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False Feltex IPO forecast warrants second trial

Article – BusinessDesk

Aug. 15 (BusinessDesk) – The Supreme Court has cleared the way for former Feltex shareholders to pursue the directors of the failed carpet maker over whether a false forecast in the prospectus left them out of pocket. Read more »

Infratil, Mercury partner for $208M Tilt takeover

Article – BusinessDesk

Aug. 15 (BusinessDesk) – Mercury NZ has partnered with Infratil in a $208.5 million offer for the shares in Tilt Renewables they dont already own. Read more »

Heartland sees more earnings growth in 2019

Article – BusinessDesk

Aug. 15 (BusinessDesk) – Heartland Bank is eyeing up acquisitions to maintain double-digit earnings growth in 2019 after its reverse mortgage business underpinned an 11 percent gain in annual profit. Read more »

NZX 1H earnings fall; special dividend declared

Article – BusinessDesk

Aug. 15 (BusinessDesk) – NZX first-half earnings fell as it lifted spending as part of a plan to position itself for future growth. It will return cash from the sale of non-core assets to shareholders as a special dividend. Read more »

NZ house sales flat in July as Auckland market settles

Article – BusinessDesk

Aug. 15 (BusinessDesk) – New Zealand house sales were largely flat in July as activity in the dominant Auckland market settled down in what’s typically the quietest winter month. Read more »

Continuous disclosure doesn’t extend to voluntary admins

Article – BusinessDesk

Aug. 15 (BusinessDesk) – The High Court has ruled listed firms in voluntary administration don’t need to meet NZX’s continuous disclosure obligations designed to protect the integrity of trading. Read more »

NZ dollar dips as investor fears over Turkish economy ease

Article – BusinessDesk

Aug. 15 (BusinessDesk) – The New Zealand dollar fell as fears over Turkey’s financial woes eased after the nation’s finance minister said his government will protect its currency which has been in freefall for the past week. Read more »

Fonterra CEO Spierings goes early after milk price trimmed

Article – BusinessDesk

Aug. 15 (BusinessDesk) – Fonterra Cooperative Group chief executive Theo Spierings is leaving the role early after the world’s biggest dairy exporter lowered its farmgate payout and trimmed its dividend to retain cash. Read more »

Bar high for NZ rate cut – economists

Article – BusinessDesk

Aug. 15 (BusinessDesk) – Economists agree the risk of a New Zealand rate cut is real but most dont actually expect it to happen. Read more »

MARKET CLOSE: NZ shares bounce back from Turkish sell-down

Article – BusinessDesk

MARKET CLOSE: NZ shares bounce back from Turkish sell-down, Summerset falls on mixed result Read more »

NZ dollar pares losses as bargain hunters move in

Article – BusinessDesk

Aug. 14 (BusinessDesk) – The New Zealand dollar pared some of its recent losses against the greenback as bargain hunters moved in despite weak data from Australia and China that would normally have weighed on the kiwi. Read more »

Govt moves to shut GST loophole on charities’ asset sales

Article – BusinessDesk

Aug. 14 (BusinessDesk) – The government is moving to close a GST loophole that could have created a significant but unquantified risk to the Crowns revenue. Read more »