NZ dollar gains as Fed rate hike timing weighed

Press Release – BusinessDesk

May 27 (BusinessDesk) – The New Zealand dollar gained from a two-month low as a poll showed there’s still a chance Britain will vote to exit the European Union next month, creating market uncertainty that may discourage the Federal Reserve from hiking interest … Read more »

Saville’s Utilico sells more Infratil shares

Article – BusinessDesk

May 27 (BusinessDesk) – Utilico Investments has continued to sell shares in infrastructure investment firm Infratil, and now owns just 2.5 percent of the company. Read more »

NZ wool prices decline as buyers favour South Island wools

Article – BusinessDesk

May 27 (BusinessDesk) – New Zealand wool prices slipped at yesterday’s North Island auction compared to the higher values achieved at last week’s South Island selection, with lamb wool leading the fall. Read more »

Wynyard says it has nothing to disclose

Article – BusinessDesk

May 27 (BusinessDesk) – Wynyard Group, whose chairman resigned this week for health reasons, says it has nothing to disclose after the stock market supervisor queried a 21 percent slump in the share price over the past fortnight. Read more »

Merger would see just 12% of NZ digital ad market

Article – BusinessDesk

May 27 (BusinessDesk) – A merger between Fairfax Media’s New Zealand operations and APN News &Media’s NZME unit would have 11.7 percent of New Zealand’s digital advertising market, which is dominated by Google and Facebook, their application to the Commerce … Read more »

Silver Fern shareholders to vote on Shanghai Maling deal

Article – BusinessDesk

May 27 (BusinessDesk) – Shareholders of meat processor Silver Fern Farms will have a second vote on whether to approve its planned tie-up with China’s Shanghai Maling Aquarius in July, though the board intends to go ahead with the deal irrespective … Read more »

Carbon hits $15 a tonne benchmark

Article – BusinessDesk

May 27 (BusinessDesk) – The price of a tonne of New Zealand carbon in the emissions trading scheme has pushed through $15, creating theoretically breakeven conditions for forestry planting based on carbon farming. Read more »

Comvita seeks to build SeaDragon stake

Press Release – BusinessDesk

May 27 (BusinessDesk) – Comvita wants to increase its stake in SeaDragon with a $3 million convertible loan, which the fish oil refiner will use to fund its exit from Omega-2 oil in favour of the more profitable Omega-3 market. Read more »

Lion to buy cult Upper Hutt brewer Panhead

Article – BusinessDesk

Lion, NZ’s largest beer company, agrees to buy cult Upper Hutt brewer Panhead, no price given Read more »

Pact Group backs out of Invercargill social housing contract

Article – BusinessDesk

May 27 (BusinessDesk) – Dunedin-based charity organisation Pact Group has backed out as the sole bidder to buy and manage 348 state houses in Invercargill, putting the government’s planned tender on hold and delivering a political blow to its social … Read more »

Airways gives airlines a break with cheaper prices

Article – BusinessDesk

May 27 (BusinessDesk) – Airways Corp, the government-owned entity in charge of air traffic control, will give airlines a break with cheaper prices, while hiking them for smaller operators. Read more »

F&P Healthcare annual profit jumps 27%

Article – BusinessDesk

May 27 (BusinessDesk) – Fisher & Paykel Healthcare, the medical device maker, beat its forecast for annual profit, boosting revenue and margins, and said it expected to post new records in the coming year. Read more »

Trilogy more than doubles annual profit on soaring sales

Article – BusinessDesk

May 27 (BusinessDesk) – Trilogy International, which yesterday said it bought a stake in a Chilean rosehip producer, more than doubled annual profit as sales of its skincare and home fragrance products soared and it benefited from the acquisition … Read more »

Bay International deal now unconditional

Article – BusinessDesk

May 27 (BusinessDesk) – Abano Healthcare Group’s sale of its 50 percent stake in Bay International has been declared unconditional after the NZX granted a waiver that meant the deal doesn’t need to go to a shareholder vote. Read more »

NZ dollar gains from 2-month low

Article – BusinessDesk

May 27 (BusinessDesk) – The New Zealand dollar gained from a two-month low after weak US data on business spending dented demand for the greenback. Read more »

NZ shares gain as earnings boost lifts Mainfreight

Article – BusinessDesk

May 26 (BusinessDesk) – New Zealand shares gained as Mainfreight posted stronger full-year earnings, giving investors more confidence about its outlook while Air New Zealand rebounded and Metro Performance Glass fell. Read more »

NZ dollar falls as Fonterra forecast disappoints market

Article – BusinessDesk

May 26 (BusinessDesk) – The New Zealand dollar fell after Fonterra Cooperative Group gave a lower-than-expected opening forecast for the 2017 milk payout, which it said partly reflected a strong currency, stoking expectations the Reserve Bank will cut … Read more »

More charges laid in reponse to Waikato bobby calves footage

Article – BusinessDesk

May 26 (BusinessDesk) – The Ministry for Primary Industries has laid a second set of charges as part of an investigation into the alleged abuse of bobby calves in the Waikato. Read more »

SkyCity deal to prepare ground for Adelaide expansion

Article – BusinessDesk

May 26 (BusinessDesk) – SkyCity Entertainment Group, New Zealand’s only listed casino, has signed a deal with the South Australian government on preliminary works to prepare for the expansion of its Adelaide casino and the wider redevelopment of the site. Read more »

Ross Asset Management investor McIntosh allowed to appeal

Article – BusinessDesk

May 26 (BusinessDesk) – The Supreme Court has granted former Ross Asset Management investor Hamish McIntosh leave to appeal the Court of Appeal’s ruling that he could keep the $500,000 he managed to extract from the Ponzi scheme before its failure, … Read more »