US retailers weighing on orange roughy prices, Sanford says

Article – BusinessDesk

May 24 (BusinessDesk) Prices for orange roughy are at their lowest in 3-4 years, partly as a result of some US retailers boycotting the species because of concerns about the sustainability of the fishery, Sanford says. Read more »

MARKET CLOSE: NZ shares drop on profit taking, Fed jitters

Article – BusinessDesk

May 24 (BusinessDesk) New Zealand shares tumbled as investors took advantage of weaker Chinese growth and hints of a possible end to quantitative easing in the US to take profits on companies that have propelled the NZX 50 Index to record highs … Read more »

Bupa gains court approval to buy Dental Corp in Aust, NZ

Article – Businesswire

May 24 (BusinessDesk) Bupa Group, a London-based healthcare provider, gained court approval to buy Dental Corp, Australia and New Zealands largest dental group, for 244 million British pounds. Read more »

NZ dollar faces more downside

Article – BusinessDesk

May 24 (BusinessDesk) – The New Zealand dollar will likely fall below 80 US cents next week as an improving US economy and growing speculation the Federal Reserve will start unwinding its asset purchase programme spurred supporters for the greenback. Read more »

NZ Sugar Company boosts profits on higher exports

Article – BusinessDesk

May 24 (BusinessDesk) New Zealand Sugar Company, which operates the iconic pink Chelsea Sugar refinery on Aucklands Waitemata Harbour, boosted profit last year as it benefitted from higher exports and lower costs. Read more »

Greymouth Petroleum shucks off disaffected shareholder

Article – BusinessDesk

May 24 (BusinessDesk) – Minnow oil and gas player Greymouth Petroleum is preparing to welcome a new 14 percent shareholder on its share register after winning a High Court action brought by the company’s former chief operating officer, John Sturgess. Read more »

Lance Wiggs’s Punakaiki Fund mulls $50 million IPO

Article – BusinessDesk

Lance Wiggs’s Punakaiki Fund mulls $50 million IPO to invest in high-growth companies Read more »

Ecoya ekes out small annual profit, EBITDA up 26%

Article – BusinessDesk

May 24 (BusinessDesk) – Ecoya, which is changing its name to Trilogy International, eked out a small profit as underlying earnings climbed 26 percent on the strength of its skincare product range. Read more »

Snakk raises $6.5M in over-subscribed issue

Article – BusinessDesk

May 24 (BusinessDesk) – Snakk Media, the latest brainchild of Hyperfactory co-founder Derek Handley, has raised $6.5 million from an over-subscribed share purchase plan and private placement, which it will use both to fund its expansion and potentially … Read more »

SFO charges seven people over mortgage fraud

Article – BusinessDesk

May 24 (BusinessDesk) – The Serious Fraud Office has charge seven people over a series of alleged mortgage frauds between July 2007 and December 2010. Read more »

NZ trade surplus misses expectations on petrol imports

Article – BusinessDesk

May 24 (BusinessDesk) – New Zealands trade surplus in April was smaller than expected as a rise in petroleum imports more than offset increasing meat exports after farmer culled their livestock during this years drought. Read more »

NZ dollar bounces back from lows after Bernanke overreaction

Article – Businesswire

May 24 (BusinessDesk) The New Zealand dollar rebounded from an eight-month low, after failing to break below 80 US cents, as some traders deemed the initial response to Federal Reserve chairman Ben Bernankes comments on a possible end to quantitative … Read more »

While you were sleeping: Cautious calm returns

Article – BusinessDesk

May 24 (BusinessDesk) Wall Street was mixed, paring sharp early losses after disappointing data from China and a slump in Japanese stocks outweighed better-than-expected reports on US jobs and housing. Read more »

MARKET CLOSE: NZ shares fall as US, China in focus

Article – Businesswire

May 23 (BusinessDesk) New Zealand shares fell as the prospect of a winding down of US stimulus and weak Chinese manufacturing weighed on equity markets across Asia. Guinness Peat Group dropped after signalling a delay in its transformation strategy. … Read more »

Dominion Finance’s Cropp jailed for 2 years 7 months

Article – BusinessDesk

May 23 (BusinessDesk) – Paul Cropp, the former chief executive of failed lenders Dominion Finance and North South Finance, has been jailed for two years and seven months after being convicted on fraud charges last month. Read more »

NZ dollar falls to 8-month low after Chinese PMI

Article – BusinessDesk

NZ dollar falls to 8-month low after Chinese manufacturing contracts, Bernanke says watch the data Read more »

NZ meat cleared to move from across Chinese wharves

Article – Businesswire

May 23 (BusinessDesk) New Zealand meat has been cleared to move across Chinese wharves as soon as next week though the administrative logjam has been sheeted home to the Ministry for Primary Industries. Read more »

Xero posts $14.4 mln FY loss, doubles revenue

Article – Businesswire

May 23 (BusinessDesk) Xero, the cloud-based accounting firm, widened its annual loss in line with is guidance while using cash reserves to double revenue and paying customers. Read more »

Veolia Transport almost doubles FY profit

Article – BusinessDesk

May 22 (BusinessDesk) Veolia Transport Auckland, which runs the city’s urban passenger trains, almost doubled its annual profit last year after it changed the way it does business. Veolia, a unit of Paris-based Veolia Transdev, posted a profit of $1.99 … Read more »

F&P Healthcare shares at highest in over 2 yrs on outlook

Article – BusinessDesk

F&P Healthcare shares jump to highest in more than 2 years on profit outlook Read more »