NZ building work activity edges up in June quarter

Article – BusinessDesk

Sept. 3 (BusinessDesk) – New Zealand building work edged up in the second quarter as increased activity in non-residential construction offset flat activity in housing. Read more »

Auckland house sales drop in August

Article – BusinessDesk

Sept. 3 (BusinessDesk) – Auckland house sales fell for a third month in August and the number of listings remained muted in the tail-end of winter and lead-up to this month’s general election, according to realtor Barfoot & Thompson. Read more »

Rural Equities doubles annual profit

Article – BusinessDesk

Sept. 3 (BusinessDesk) – Rural Equities, the farming group controlled by the Cushing family, doubled annual profit and lifted its dividend 17 percent on the back of record dairy production and prices. Read more »

NZX trading volumes rise in August, as equity offsets debt

Article – BusinessDesk

NZX trading volumes rise in August, as increase in equity trades outweigh decline in debt trading Read more »

Kirkcaldie sees narrower loss on retail, may need impairment

Article – BusinessDesk

Sept. 3 (BusinessDesk) – Kirkcaldie & Stains, the upmarket Wellington department store, says it made a narrower loss in the latest financial year, and its board may have to write down the value of assets. Read more »

NZ dollar slips below 83 US cents on fall in dairy prices

Article – BusinessDesk

NZ dollar slips below 83 US cents on fall in dairy prices, upbeat US data Read more »

While you were sleeping: Wall Street rally pauses

Article – BusinessDesk

Sep. 3 (BusinessDesk) – Wall Street fell, pushing the Standard & Poors 500 Index down from its record-high close, as shares of Home Depot dropped on reports of a credit card data breach, while those of Chevron slipped with the price of oil. Read more »

Dairy product prices decline to lowest since July 2012

Article – BusinessDesk

Sep. 3 (BusinessDesk) – Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. Read more »

Forte Funds share purchases prompt disclosure notices

Article – BusinessDesk

Sep. 2 (BusinessDesk) – Recent purchases by four-month old Forte Funds Management, run by former deputy head of equities AMP Capital John Phipps and ex-Harbour Asset Management strategist Darryl Briggs, has prompted disclosure notices from Skellerup … Read more »

Lee Tamahori seeks $500k through crowd-funding

Article – BusinessDesk

Sept. 2 (BusinessDesk) – A new film to be directed by Lee Tamahori is hoping to raise the final 5.3 percent of its $9.4 million budget via equity crowd funding on the Snowball Effect platform, offering investors preferred shares with a 20 percent per … Read more »

MARKET CLOSE: NZ shares rise, led by A2, Ebos, Fletcher

Article – BusinessDesk

Sept. 2 (BusinessDesk) – New Zealand shares rose, led by A2 Milk Co, Ebos Group and Fletcher Building, as companies with Australian business benefited from a falling kiwi dollar. Read more »

Australian dollar above ‘fundamental value’, RBA says

Article – BusinessDesk

Sept. 2 (BusinessDesk) – The Reserve Bank of Australia strengthened its language on the Australian dollar, saying the currency was high relative to fundamental value, while at the same time sounding more upbeat about the local economy. Read more »

NZ dollar little changed vs. A$ as RBA keeps rates on hold

Article – BusinessDesk

Sept. 2 (BusinessDesk) – The New Zealand dollar was little changed against its trans-Tasman counterpart after the Reserve Bank of Australia kept rates on hold, while becoming a little more pessimistic about the nation’s labour market. Read more »

SFO charges MightyRiverPower engineer with $2 mln fraud

Article – BusinessDesk

Sept. 2 (BusinessDesk) – The Serious Fraud Office has charged a MightyRiverPower engineer of fraudulently issuing invoices totalling $2 million. Read more »

NZ commodity prices fall for 6th month in August, ANZ says

Article – BusinessDesk

Sept. 2 (BusinessDesk) – New Zealand commodity prices fell for a sixth straight month in August, taking the index to a 17-month low, led by declining dairy prices, in part due to an oversupply in China. Read more »

CERA to be rolled into DPMC ahead of rebuild wind-down

Article – BusinessDesk

Sept. 2 (BusinessDesk) – The government will fold the Canterbury Earthquake Recovery Authority into the Department of Prime Minister and Cabinet early next year as it begins a long-term withdrawal from its hands-on involvement in the Christchurch rebuild. Read more »

Huhtamaki buys carton maker Interpac Packaging for 7M euros

Article – BusinessDesk

Sept. 2 (BusinessDesk) – Huhtamaki Oyj, the Finnish packaging manufacturer, bought Auckland-based folding carton maker Interpac Packaging for 7 million euros to expand its product range. Read more »

Lyttelton offer amounts to premium up to 14%: adviser report

Article – BusinessDesk

Sept. 2 (BusinessDesk) – Christchurch City Holdings’ offer to mop up the remaining shares in Lyttelton Port Co amounts to a premium of up to 14 percent, according to a report from the independent adviser that recommends it be accepted. Read more »

Spark deregisters its stock in the US

Article – BusinessDesk

Sept. 2 (BusinessDesk) – Spark New Zealand, previously known as Telecom Corp and once the largest company on the nation’s stock exchange before its network arm was split off into Chorus, is deregistering trading of its stock in the US. Read more »

NZ dollar holds steady ahead of US manufacturing data

Article – BusinessDesk

Sept. 2 (BusinessDesk) – The New Zealand dollar was little changed along with other major currencies as weak manufacturing PMI data from China to Europe had traders looking ahead to manufacturing figures from the US tonight. Read more »