JPMorgan’s NZ branch gets formal warning for 2013 lapse

Article – BusinessDesk

JPMorgan’s NZ branch gets formal warning from central bank over lack of risk assessment plan in 2013 Read more »

MARKET CLOSE: NZ shares fall; Meridian, MRP, DNZ drop

Article – BusinessDesk

March 4 (BusinessDesk) – New Zealand shares fell, led by Meridian Energy and MightyRiverPower as demand abated for companies with dependable dividend streams. Warehouse Group rose ahead of reporting its earnings this week. Read more »

NZ dollar little changed after Australian GDP data

Article – BusinessDesk

March 4 (BusinessDesk) – The New Zealand dollar was little changed after figures showed Australia’s economy got a boost from increased consumer spending, offsetting the decline in its resources sector. Read more »

Woolworths takes $28.3 mln haircut on Warehouse

Article – BusinessDesk

March 4 (BusinessDesk) – Woolworths has taken a near $28.3 million haircut on its investment in Warehouse Group after James Pascoe, the retail group owned by David and Anne Norman, bought the Australian supermarket chain’s stake in New Zealand’s … Read more »

AsureQuality posts 5% drop in 1H profit as costs rise

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AsureQuality posts 5% drop in 1H profit as costs rise; expects to beat FY target Read more »

Carter Holt cladding ‘inherently defective’, court hears

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March 4 (BusinessDesk) – Carter Holt Harvey cladding sheets and systems used in 880 school buildings were “inherently defective” and the Ministry of Education is entitled to sue the company, the Court of Appeal heard today. Read more »

Kordia turns to profit in 1H as Australian business improves

Article – BusinessDesk

March 4 (BusinessDesk) – Kordia Group, the broadcasting and telecommunications network operator, turned to a profit in the first half on an improved performance at its Australian business. Read more »

Rex Bionics widens full-year loss as costs rise

Article – BusinessDesk

March 4 (BusinessDesk) – Rex Bionics Plc, the New Zealand firm listed on the London Stock Exchange’s AIM market, said higher costs to commercialise its robotic exoskeletons widened its full-year loss to 3.56 million pounds from 480,000 pounds a year earlier. Read more »

NZ government launches Ageing Well, latest science challenge

Article – BusinessDesk

March 4 (BusinessDesk) – Science and Innovation Minister Steven Joyce has launched the Ageing Well National Science Challenge, one of 11 planned by the government to tackle the countrys biggest science-based issues. Read more »

NZ residential building activity rises 4.3% in 4th-qtr

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March 4 (BusinessDesk) – New Zealand residential building activity rose for the first time in three quarters in the final three months of 2014, led by earthquake-related rebuilding work in Canterbury. Read more »

Spark sells Telecom Rentals for $106M to FlexiGroup

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March 4 (BusinessDesk) – Spark New Zealand, formerly Telecom Corp, agreed to sell its Telecom Rentals business for $106 million to Australian financial services company FlexiGroup. Read more »

Auckland houses prices fall in Feb as volume, listings rise

Article – BusinessDesk

March 4 (BusinessDesk) – Auckland house prices fell in February, as listings rose and the number of properties sold reached its second-highest level in seven years for that month, according to the city’s largest realtor. Read more »

NZ new vehicle sales jump 8.1% to 31-year high in February

Article – BusinessDesk

March 4 (BusinessDesk) – New Zealand new vehicle sales rose 8.1 percent in February to the highest level for 31 years, reflecting buoyant economic conditions. Read more »

NZX appoints First NZ Capital as NXT market maker

Article – BusinessDesk

March 4 (BusinessDesk) – NZX, the stock market operator, named First NZ Capital as the first brokerage to agree to be a market maker for its yet-to-be-launched NXT market for small and medium-sized companies. Read more »

NZX share trading climbs in February

Article – BusinessDesk

March 4 (BusinessDesk) – The volume and value of cash trading on New Zealand’s share market rose in February, snapping a decline a month earlier, and helped push the value of the local equity market above $100 billion. Read more »

NZ dollar benefits from commodity currency gains

Article – BusinessDesk

March 4 (BusinessDesk) – The New Zealand dollar rose along with other commodity currencies after the Australian Reserve Bank chose not to cut interest rates yesterday and following better-than-expected growth data in Canada. Read more »

While you were sleeping: Stocks slide on car sales

Article – BusinessDesk

March 4 (BusinessDesk) – Wall Street moved lower from record highs after disappointing car sales lowered the appeal of equities for now, as investors await a speech from Federal Reserve Chair Janet Yellen later in the day, as well as US jobs data this … Read more »

Dairy product prices rise with butter and cheddar

Article – BusinessDesk

March 4 (BusinessDesk) – Dairy product prices rose in the latest GlobalDairyTrade auction, as gains in the price of butter and cheddar outweighed declines in the price of anhydrous milk fat, whole milk powder and rennet casein. Read more »

Bankrupt Bryers needs to get back on his feet, lawyer says

Article – BusinessDesk

March 3 (BusinessDesk) – Mark Bryers, bankrupted in 2009 owing $230 million, is running out of time to get back on his feet, his lawyer told a High Court hearing seeking to discharge the former boss of Blue Chip. Read more »

MARKET CLOSE: NZ shares rise, led by Warehouse

Article – BusinessDesk

March 3 (BusinessDesk) – New Zealand shares rose to a fresh record pushed higher by Warehouse Group after James Pascoe lifted its stake to become the second-biggest shareholder in the retailer. Diligent Board Member Services fell after an analyst’s … Read more »