PledgeMe, Snowball Effect gain equity crowd-funding licences

Article – BusinessDesk

July 31 (BusinessDesk) – The Financial Markets Authority has awarded its first equity crowd funding licences to two platforms, nearly five months after the process first began. Read more »

OceanaGold posts first-half profit on strong first-quarter

Article – BusinessDesk

July 31 (BusinessDesk) – OceanaGold, which operates the Macraes goldfield in Otago, posted a first-half profit as its Didipio operation in the Philippines helped lift first-quarter earnings to a record, making up for a small loss in the second quarter … Read more »

NZ dollar slides to eight-week low on strong US GDP

Article – BusinessDesk

NZ dollar slides to eight-week low as US dollar jumps on better second-quarter growth Read more »

While you were sleeping: US economy gathers steam

Article – BusinessDesk

July 31 (BusinessDesk) – Wall Street was mixed after the US economy kicked into a higher-than-expected gear in the second-quarter while Federal Reserve policy makers reminded investors that the nations jobs and housing markets remain weaker than … Read more »

MARKET CLOSE: NZ shares fall led by Telecom

Article – BusinessDesk

July 30 (BusinessDesk) – New Zealand shares fell for a third day led lower by Telecom Corp after an analyst’s report this week downgraded the stock to a ‘sell’. Units in the Fonterra Shareholders’ Fund rose after Fonterra Cooperative Group yesterday … Read more »

NZ dollar holds near 7-week low as US GDP, FOMC loom

Article – BusinessDesk

July 30 (BusinessDesk) – The New Zealand dollar held near a seven-week low as traders await figures expected to show US economic growth is back on track and the results of the Federal Reserve’s monetary policy review, which may hint at a better outlook. Read more »

Trade Me tweaks real estate listing fee to placate agents

Article – BusinessDesk

July 30 (BusinessDesk) – Trade Me has added a monthly listing subscription fee option for realtors after some agents baulked at the online auction site’s move to pay-per-listing fees. Read more »

Auckland Airport may value land as high as $2.7 billion

Article – BusinessDesk

Auckland Airport may value land as high as $2.7 billion, up $745 million from 2011 Read more »

China acquisition to underpin Methven profit growth

Article – BusinessDesk

July 30 (BusinessDesk) – Methven is counting on its new Chinese manufacturer to secure its supply and grow the company’s profitability as the tap and shower maker targets up to 25 percent earnings growth this year. Read more »

UPDATE: NZ building consents on the rise

Article – BusinessDesk

July 30 (BusinessDesk) – New Zealand building consents increased at the fastest pace in three months in June, rising a seasonally adjusted 3.5 percent, led by a surge in Canterbury. Read more »

NZ banks set to stay profitable, Moody’s says

Article – BusinessDesk

July 30 (BusinessDesk) – New Zealand’s banks should be able to maintain their strong levels of profitability, even as mounting competition puts pressure on their margins, according to ratings agency Moody’s Investors Service. Read more »

NZ govt to take control of Novopay school payroll system

Article – BusinessDesk

NZ govt to take control of Novopay school payroll system, receive as much as $22M settlement Read more »

UPDATE: Metroglass shares gain 4.1% on NZX debut

Article – BusinessDesk

July 30 (BusinessDesk) – Shares of Metro Performance Glass, New Zealand’s largest glass processor, advanced 4.1 percent in early trading on their NZX debut, as investors looked for easy-to-value businesses with ready dividends in a stock market busy with … Read more »

NZ building permits rose at fastest pace in 3 months in June

Article – BusinessDesk

July 30 (BusinessDesk) – New Zealand building consents increased at the fastest pace in three months in June, rising a seasonally adjusted 3.5 percent, as apartment developments rebounded. Read more »

Metroglass shares debut at $1.75, for 2.9% gain from IPO

Article – BusinessDesk

July 30 (BusinessDesk) – Shares of Metro Performance Glass rose 2.9 percent on their NZX debut, after a $244.2 million initial public offer which saw private equity owners Crescent Capital and Anchorage Capital reduce their ownership to an 18.5 percent … Read more »

Westland Milk follows Fonterra in slashing payout forecast

Article – BusinessDesk

July 30 (BusinessDesk) – Westland Milk Products, the Hokitika-based dairy cooperative, has followed Fonterra Cooperative Group in cutting its forecast payout for the 2015 season, citing weaker global dairy prices and high New Zealand dollar. Read more »

NZ dollar falls below 85 US cts after Fonterra cuts payout

Article – BusinessDesk

July 30 (BusinessDesk) – The New Zealand dollar dropped below 85 US cents for the first time in seven weeks after Fonterra Cooperative Group cut its forecast payout to dairy farmers and a stronger US currency saw the kiwi lose some of its allure. Read more »

While you were sleeping: Caution prevails

Article – BusinessDesk

July 30 (BusinessDesk) – Wall Street was flat in cautious trading, with sentiment bolstered by corporate earnings including from Merck and news that Windstream can spin off its telecommunications assets into a tax-lowering real estate investment … Read more »

Growth in global milk pool ‘unusual,’ says Spierings

Article – BusinessDesk

July 29 (BusinessDesk) – The global market for dairy products have been in the unusual situation where most producers have been lifting supply, while demand weakened in China, Southeast Asia and the Middle East, says Fonterra Cooperative Group chief … Read more »

Tenon to supply Masters Home Improvement stores in Australia

Article – BusinessDesk

July 29 (BusinessDesk) – Tenon, whose locally produced wood mouldings are sold in the US, will expand its business across the Tasman, supplying the Woolworths and Lowe’s Home Improvement joint venture Masters Home Improvement stores. Read more »