MARKET CLOSE: NZ shares mixed; Comvita up

Article – BusinessDesk

MARKET CLOSE: NZ shares mixed; Comvita up, Genesis gains on gentailer yield, Tegel hurt by chicken glut Read more »

NZ dollar little changed as investors await US vote

Article – BusinessDesk

March 24 (BusinessDesk) – The New Zealand dollar was little changed on the week and continues to tread water as investors wait to see if the US repeals and replaces the Affordable Care Act known as Obamacare, now viewed as a barometer on whether … Read more »

CBL to buy Affirmative for US$5.7M

Article – BusinessDesk

March 24 (BusinessDesk) – CBL Corp wants to add US insurer Affirmative Direct Insurance Company in a US$5.7 million deal which would expand its global footprint to the world’s biggest economy. Read more »

UPDATE: Hagamans say Little apology not genuine

Article – BusinessDesk

March 24 (BusinessDesk) – Defamation proceedings against Labour Party leader Andrew Little by Earl and Lani Hagaman will proceed, even though Little publicly apologised today after the Auditor-General found no link between the couple’s political donations … Read more »

Hagamans to proceed with defamation case against Little

Press Release – BusinessDesk

March 24 (BusinessDesk) – Defamation proceedings against Labour Party leader Andrew Little by Earl and Lani Hagaman will proceed, with Little publicly apologising today after the Auditor-General found no link between a donation made by the couple and … Read more »

South Port CEO O’Connor steps down after 17 years

Article – BusinessDesk

March 24 (BusinessDesk) – South Port New Zealand chief executive Mark OConnor is to step down after 17 years running the nation’s southernmost deep water port, having led the company to a record profit on record cargo volumes in 2016. Read more »

Govt push for FTAs to cover 90% of export goods

Article – BusinessDesk

March 24 (BusinessDesk) – The government’s newly minted trade agenda wants near-saturation free trade agreement coverage for locally exported goods by 2030, however it doesn’t want to pass up opportunities offered by new technology enabling more service exports. Read more »

NZ’s weak wool market shows some improvement at auction

Article – BusinessDesk

March 24 (BusinessDesk) – The weak wool market showed some improvement at the latest New Zealand weekly auction in the South Island yesterday. Read more »

NZ Post CFO David Walsh gets the top job

Article – BusinessDesk

March 24 (BusinessDesk) – David Walsh will take up the role of chief executive at New Zealand Post from May 1 as the state-owned enterprise shifts its focus away from traditional mail services that are facing shrinking revenue. Read more »

NZ’s trade deficit narrows in February as dairy exports rise

Article – BusinessDesk

March 24 (BusinessDesk) – New Zealand’s trade deficit narrowed to $18 million in February but the annual trade deficit was the largest in nearly eight years. Read more »

TeamTalk to sell controlling stake in Farmside to Vodafone

Article – BusinessDesk

March 24 (BusinessDesk) – Unprofitable telecommunications minnow TeamTalk plans to sell a 70 percent stake in its problematic Farmside rural internet services provider to Vodafone New Zealand for $10 million, almost half what Spark New Zealand is willing … Read more »

Downer raises A$757mln from institutional entitlement offer

Article – BusinessDesk

March 24 (BusinessDesk) – Sydney-based Downer EDI said it raised around A$757 million from its institutional entitlement offer, with approximately 66 percent of entitlements being taken up by eligible institutional shareholders. Read more »

PM English mounts case for free trade with $90 mln package

Article – BusinessDesk

March 24 (BusinessDesk) – Prime Minister Bill English wants to bring the public on board with a new trade strategy that will inject an extra $90 million to chase more deals and build on existing relationships. Read more »

NZ govt to spend $35.3M to help primary sector export trade

Article – BusinessDesk

March 24 (BusinessDesk) – The government is earmarking $35.3 million of new funding over the next four years to help primary sector exporters trade in overseas markets. Read more »

Intueri to exit Australia on March 29

Article – BusinessDesk

March 24 (BusinessDesk) – Intueri Education Group, the ailing private training provider, says it will exit the Australian market on March 29, having failed to convince education authorities to re-register its colleges across the Tasman or renew funding. Read more »

Labour, Greens pledge fiscal responsibility if elected

Article – BusinessDesk

March 24 (BusinessDesk) – The Labour and Green parties are promising to be fiscally responsible if they win the Treasury benches at the September general election and will set up a body independent of government to make sure they stick to their rules. Read more »

While you were sleeping: US healthcare vote looms

Article – BusinessDesk

March 24 (BusinessDesk) – Wall Street advanced as investors scrutinised the vote on a Republican healthcare bill that is seen as a litmus test of US President Donald Trumps credibility to push his agenda. Read more »

NZ dollar little changed

Article – BusinessDesk

March 24 (BusinessDesk) – The New Zealand dollar was little changed as financial markets awaited the outcome of a US vote to repeal the Affordable Care Act, known as Obamacare, as a test of whether the Trump administration can enact a policy platform … Read more »

Maori Party to back RMA reform

Press Release – BusinessDesk

March 23 (BusinessDesk) – The Mori Party has headed off a rival bid by government support partners United Future and the Act Party, reaching a deal to support an overhaul of the Resource Management Act which includes a framework to protect iwi rights. Read more »

Fewer NZ farmers feeling pessimistic, says Rabobank

Article – BusinessDesk

March 23 (BusinessDesk) – Net confidence edged up in the latest Rabobank confidence survey of New Zealand farmers, with growing optimism in the horticulture, beef and sheep sectors. Read more »