Business News

Foster's rejects offer for wine assets
Global beverages firm Foster's Group says it has received a non-binding proposal to buy its Treasury Wine Estates wine assets for between A$2.3 billion ($2.9 billion) and A$2.7 billion.
Shares off to weak start
The New Zealand sharemarket ended its five-day stretch of gains, opening low as concern over the European financial sector resurfaced in overseas markets.
Home ownership vs renting
As I mentioned in Monday's post, I really feel for home owners in Canterbury after the events of the past few days.
Earthquake hits Canterbury sales
Eftpos sales at Canterbury businesses plunged by a third in the wake of Saturday's quake, Eftpos provider Paymark says.
ING Property sells Manukau property
ING Property Trust has sold retail property in Manukau and bought property in St Lukes, both Auckland transactions valued at the same price.
The Hubbard halo is now more than merely dented
The receivership of South Canterbury Finance has led to the media turning on the once-sainted Allan Hubbard.
Shaky times for the economy
Let’s get one thing straight. Earthquakes are not good for the economy.
Revised One Plan rules hardly too onerous
Now that the dust has settled, a closer look at Horizons Regional Council's One Plan, as altered by a panel of independent commissioners, shows a big win for farmers.
Intrepid turns 21, plans share float
The hope was to start a little business that gave them an excuse to keep travelling.
Stocks to watch: September 8
The following stocks may be active on the New Zealand exchange after developments since the close of trading. All prices are in New Zealand dollars unless specified.
OceanaGold CEO resigns
OceanaGold chief executive Paul Bibby has resigned for personal reasons and the gold miner has begun the search for a replacement.
Kiwi dragged down by European concerns
The New Zealand dollar was weaker this morning as enthusiasm for the currency dropped with renewed concerns over the European economy.
Fraud up in wake of global financial crisis
The global financial crisis increased instances of fraud and corruption as companies attempted to cut costs, a report shows.
Stationery takes up slack for Red Sheds
A strong performance from stationery stores is expected to prop up The Warehouse Group's bottom line when it reports on Friday.
TelstraClear broadband improvements
TelstraClear will increase the price, speed and data caps of its most popular cable broadband plans in Wellington and Christchurch from next month when the rise in GST to 15 per cent takes effect.
Banks offer support to help quake victims
Banks are lining up to offer victims of the Canterbury earthquake cheap loans and deferred repayments to help get them back on their feet.
Legal eagle takes the chair at Roundtable
The irony has not gone unnoticed. Roger Partridge, noted Auckland lawyer and new chairman of the Business Roundtable, was a card-carrying union member.
Improving outlook boost for NZ shares
Improving global conditions have rippled through to the local stockmarket, pushing the NZX 50 up 4.5 per cent over the last five trading days.
New Roundtable chief wants guarantee scrapped
The Crown Retail Deposit Guarantee Scheme should be scrapped immediately, says the new chairman of the Business Roundtable.
Uninsured small firms facing failure
Many small businesses in Canterbury are unlikely to have business interruption cover and some could fail as a result.

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