NZ dollar rallies vs greenback after Trump comments

Article – BusinessDesk

Jan. 18 (BusinessDesk) – The New Zealand dollar rose to a month-high against the greenback after US president-elect Donald Trump said the US currency was too high and fell against the pound after UK Prime Minister Theresa May said any exit from … Read more »

IRD follows IRS lead, audits Microsoft over transfer pricing

Article – BusinessDesk

Jan. 17 (BusinessDesk) – Microsoft New Zealand, the local unit of the world’s biggest software company, is being audited by the Inland Revenue Dept over transfer pricing, a practice that can be used by multinationals to minimise tax. Read more »

Powerco eyes price hikes to pay for $1.4 billion upgrade

Article – BusinessDesk

Jan. 17 (BusinessDesk) – Powerco, the gas and electricity lines company owned by fund managers QIC and AMP Capital, wants to raise prices to help fund an upgrade to networks across the North Island that it says could cost as much as $1.4 billion Read more »

Postr raises $3 million from NZVI

Article – BusinessDesk

Jan. 17 (BusinessDesk) – Postr Media, an ad-tech company which has contracts with Skinny Mobile and Optus in Australia, has raised $3 million from investors including the New Zealand Venture Investment Fund in its first significant raising. Read more »

NZ dollar little changed before dairy auction

Article – BusinessDesk

Jan. 17 (BusinessDesk) – The New Zealand dollar was little changed, with no tail wind from US financial markets closed for the Martin Luther King Jr holiday, in the run-up to a dairy auction that has seen milk powder futures fall and a Brexit speech … Read more »

NZ, Israeli business relations seen as safe

Article – BusinessDesk

Jan. 17 (BusinessDesk) – Soured diplomatic relations between New Zealand and Israel aren’t expected to derail increasingly cosy business dealings between firms in the two nations. Read more »

Dairy product prices rise, stemming two straight drops

Article – BusinessDesk

Jan. 18 (BusinessDesk) – Dairy product prices inched higher at the Global Dairy Trade auction, stemming two consecutive declines. Read more »

MARKET CLOSE: NZ shares down, Air NZ and Vector fall

Article – BusinessDesk

Jan. 17 (BusinessDesk) – New Zealand shares dipped, led lower by Air New Zealand and Vector, with Arvida Group and Tegel Group Holdings rising. Read more »

While you were sleeping: Dollar too strong for Trump

Article – BusinessDesk

Jan. 18 (BusinessDesk) – The US dollar fell after President-elect Donald Trump said the currency was too strong, undermining the nations competitiveness abroad. Read more »

Dairy product prices rise, stemming two straight drops

Article – BusinessDesk

Jan. 18 (BusinessDesk) – Dairy product prices inched higher at the Global Dairy Trade auction, stemming two consecutive declines. Read more »

NZ Oil & Gas takes control of Cue Energy

Article – BusinessDesk

Jan. 17 (BusinessDesk) – New Zealand Oil & Gas has taken control of Cue Energy Resources almost two years after launching a hostile takeover of ASX-listed company saying the move provides exposure to production and exploration interests in Australia, … Read more »

NZ median house price slips 0.8% in December

Article – BusinessDesk

Jan. 17 (BusinessDesk) – New Zealand’s median house price fell 0.8 percent in December from November’s record high, although regions including Wellington recorded all-time highs. Read more »

ANZ New Zealand, NZOG join early 2017 executive reshuffle

Article – BusinessDesk

Jan. 17 (BusinessDesk) – ANZ Bank New Zealand and New Zealand Oil & Gas are among firms announcing rejigged executive line-ups at the start of the new year. Read more »

NZ firms stay upbeat in Dec on building boom, rural recovery

Article – BusinessDesk

Jan. 17 (BusinessDesk) – New Zealand businesses stayed relatively upbeat about the state of the economy in the final three months of 2016, as the nation’s building boom continued to soak up resources and the recovery in global dairy prices lifted … Read more »

NZ dollar little changed near 2-month high vs pound

Article – BusinessDesk

Jan. 17 (BusinessDesk) – The New Zealand dollar was little changed near a two-month high against the British pound, with trading restrained by the Martin Luther King Jr holiday in the US, ahead of a Brexit speech by UK Prime Minister Theresa May and … Read more »

Veritas gets extension on Nosh sale deadline

Article – BusinessDesk

Jan. 16 (BusinessDesk) – ANZ Bank New Zealand has agreed to extend the deadline for Veritas Investments to either sell or begin winding up its Nosh food supermarkets until the end of the month. Read more »

NZ dollar falls as yen strengthens ahead of inauguration

Article – BusinessDesk

Jan. 16 (BusinessDesk) – The New Zealand dollar fell against the yen, which has broadly strengthened ahead of Donald Trump’s inauguration on Friday, and gained against the pound on renewed Brexit concerns. Read more »

South African visitor numbers rise in month of visa changes

Article – BusinessDesk

Jan. 16 (BusinessDesk) – The number of visitors from South Africa in November last year rose by more than a quarter, despite the ending of the visa waiver agreement between the two countries. Read more »

Silver Fern Farms sinks to $30.6 million loss

Article – BusinessDesk

Jan. 16 (BusinessDesk) – Silver Fern Farms, the meat processor in which a controlling stake was sold to China’s Shanghai Maling for $267 million at the end of last year, has plunged to a $30.6 million loss as earnings collapsed in what it has described … Read more »

MARKET CLOSE: NZ shares gain, led by A2, Infratil, Contact

Article – BusinessDesk

Jan. 16 (BusinessDesk) – New Zealand shares rose, with A2 Milk Co and high-yielding stocks such as Contact Energy and Genesis Energy gaining, with market activity still quiet ahead of February’s reporting season. Read more »