George Kerr to dilute stake in Pyne Gould share issue

Article – BusinessDesk

Sept. 19 (BusinessDesk) – Pyne Gould Corp’s managing director George Kerr will dilute his stake in the financial services firm if it goes ahead with a planned share issue, which will increase its stake in Equity Partners Infrastructure Co No 1, the so-called … Read more »

MARKET CLOSE: NZ shares follow Wall Street higher

Article – BusinessDesk

Sept. 19 (BusinessDesk) – New Zealand shares rose in a global rally as Wall Street climbed to records overnight, while a falling New Zealand dollar further supported local stocks. Kathmandu Holdings rose, paced by Fletcher Building and A2 Milk Co. Read more »

NZ dollar little changed on the week after Fed

Article – BusinessDesk

Sept. 19 (BusinessDesk) – The New Zealand dollar is heading for a 0.2 percent weekly decline against the greenback, after the prospect for higher US interest rates pushed the local currency to a seven-month low. Read more »

Queenstown Airport heading for record 2014

Article – BusinessDesk

Sept. 19 (BusinessDesk) – Queenstown Airport Corp, the nation’s fourth busiest airport, handled a record number of passengers this winter as it benefited from increased flights and capacity, prompting it to install a $450,000 ‘pop-up’ tent structure … Read more »

Pacific Edge appoints McKinsey almumni Sitch to board

Article – BusinessDesk

Sept. 19 (BusinessDesk) – Pacific Edge, the non-invasive bladder cancer test maker, has appointed former McKinsey & Co consultant Charles Sitch to its board. Read more »

NZ consumer confidence edges up in Sept from 10-month low

Article – BusinessDesk

Sept. 19 (BusinessDesk) – New Zealand consumer confidence rose in September from a 10-month low, as households adjust to a more moderate pace of economic growth. Read more »

Vocus declares FX Networks acquisition unconditional

Article – BusinessDesk

Sept. 19 (BusinessDesk) – Vocus Communications, the ASX-listed telecommunications company, has declared its $115.8 million acquisition of privately owned New Zealand fibre optic cable network operator FX Networks unconditional. Read more »

Goodman to spend $33.4M on developments

Article – BusinessDesk

Sept. 19 (BusinessDesk) – Goodman Property Trust, which is selling assets to fund development, will spend $33.4 million on four developments and has sold the Carter Holt Harvey Packaging Facility in Christchurch for $16.37 million to an undisclosed … Read more »

Council’s Lyttelton Port takeover goes unconditional

Article – BusinessDesk

Sept. 19 (BusinessDesk) – Christchurch City Holdings, the city council’s investment and infrastructure unit, has declared its takeover of Lyttelton Port Co unconditional after satisfying the last of its requirements. Read more »

NZ net migration at annual record in August on big inflow

Article – BusinessDesk

Sept. 19 (BusinessDesk) – New Zealands annual net migration rose to a record in August, exceeding Treasurys forecasts, and spurred by more migrant arrivals and the ongoing decline of Kiwis leaving for Australia. Read more »

Chorus takes aim at ‘Boost’ criticisms

Article – BusinessDesk

Sept. 19 (BusinessDesk) – Chorus, the telecommunications network operator, has hit back at claims its proposed Boost variant services would breach the terms of its regulation, saying the regulator’s legal advice is at odds with the law, and needs … Read more »

Greenlane Biogas sold to UK investor for $25mln

Article – BusinessDesk

Sept. 19 (BusinessDesk) – New Zealand exporter of biogas technology Greenlane Biogas has been sold to a listed UK company for $25 million. Read more »

NZ dollar advances ahead of election; greenback sags on data

Article – BusinessDesk

Sept. 19 (BusinessDesk) – The New Zealand dollar advanced as investors bet on stability ahead of the general election tomorrow and as weaker US data weighed on the greenback. Read more »

While you were sleeping: Wall Street hits records

Article – BusinessDesk

Sept. 19 (BusinessDesk) – Wall Street rose, pushing the Dow and S&P 500 to record highs, after a larger-than-expected drop in US jobless claims and the Federal Reserves fresh promise to keep interest rates low. Read more »

MARKET CLOSE: NZ shares bounce from month-low; Spark gains

Article – BusinessDesk

Sept. 18 (BusinessDesk) – New Zealand shares rose from a month-low as the prospect of low US interest rates lured overseas investors seeking high-yield assets. Meridian Energy and Spark New Zealand paced the gain. Read more »

NZ dollar falls after Fed signals rates hikes are coming

Article – BusinessDesk

Sept. 18 (BusinessDesk) – The New Zealand dollar fell after the Federal Reserve signalled rates hikes were on the cards in the coming year, fuelling demand for the greenback, and as the looming Scottish independence referendum and the local general election … Read more »

Crown extends clean-up promise to Solid Energy

Article – BusinessDesk

Sept. 18 (BusinessDesk) – Commercially troubled state coal miner Solid Energy requires an extension of a government guarantee to meet the $103 million future cost of returning mined land to its pre-mined condition in order to maintain positive equity in its … Read more »

UPDATE: OPI receiver lashes Crowe Horwath over OPI release

Article – BusinessDesk

Sept. 18 (BusinessDesk) – Accounting firm PwC has taken the rare step of chastising another member of its own industry, ASX-listed Crowe Horwath, for understating by half the value of a settlement reached over the auditing of OPI Finance in the failed … Read more »

Tauranga ‘game-changer’ to boost Timaru port’s 2015 profit

Article – BusinessDesk

Sept. 18 (BusinessDesk) – PrimePort Timaru, the South Island hub which has aligned itself with Port of Tauranga, expects a turnaround in its fortunes as it benefits from its tie up with the country’s busiest export port. Read more »

Trilogy flags return to profit in first half

Article – BusinessDesk

Sept. 18 (BusinessDesk) – Trilogy International, the skincare and scented candle company, expects to return to profit in the first half of its financial year as Australian sales pick up. Read more »