MARKET CLOSE: NZ stocks rise, led by MetroGlass

Article – BusinessDesk

April 28 (BusinessDesk) – New Zealand shares ended higher as positive economic data cheered investors and bargain hunters turned to stock like Metro Performance Glass although SkyCity Entertainment Group fell after posting weaker third-quarter sales … Read more »

China names four corruption suspects in Auckland

Article – BusinessDesk

April 28 (BusinessDesk) – Four of 22 corruption suspects who have fled China are in Auckland according to a list published by Chinese authorities and while New Zealand is not currently proceeding with new extradition treaties it could look at a possible … Read more »

NZ dollar remains below 69 US cents on weaker commodities

Article – BusinessDesk

April 28 (BusinessDesk) – The New Zealand dollar was little changed below 69 US cents, having fallen along with other commodity-linked currencies as raw material prices fell and the market focussed on US President Donald Trump’s protectionist approach … Read more »

Kaikoura quake to shave 0.1% from NZ’s GDP over two years

Article – BusinessDesk

Kaikoura quake to shave 0.1% from NZ’s GDP over two years, report shows Read more »

ACCC takes legal action against Murray Goulburn

Article – BusinessDesk

April 28 (BusinessDesk) – The Australian Competition and Consumer Commission has filed Federal Court proceedings against Australia’s largest milk processor, Murray Goulburn Cooperative, for breaching the Australian consumer law but decided not to … Read more »

NZ business confidence still upbeat

Article – BusinessDesk

April 28 (BusinessDesk) – New Zealand business confidence stayed upbeat in April as firms expect to see more activity on their own books and generate bigger profits. Read more »

LanzaTech narrows annual loss in 2016

Article – BusinessDesk

April 28 (BusinessDesk) – LanzaTech New Zealand, the New Zealand-founded carbon recycling company, reported a slightly narrower annual loss and while the directors signalled a number of risks they concluded it has sufficient funds to continue operating for … Read more »

NZ residential building consents dip in March

Article – BusinessDesk

April 28 (BusinessDesk) – New Zealand residential building consents dipped in March after a strong rise in February. Read more »

NZ exports rise 11% to 2-year high in March

Article – BusinessDesk

April 28 (BusinessDesk) – New Zealand’s merchandise exports rose to their highest monthly level in two years in March as the value of dairy exports to China jumped by two thirds. Read more »

NZ wool auction volumes remain high

Article – BusinessDesk

April 28 (BusinessDesk) – Volumes at New Zealand’s weekly wool auction were higher than normal for this time of year as farmers try to shift bales they held back from previous auctions due to weak prices. Read more »

Another day to wait on Fairfax NZ, NZME merger deal

Article – BusinessDesk

April 28 (BusinessDesk) – Fairfax New Zealand and NZME will have to wait one more day before finding out whether their arguments have swayed the Commerce Commission from its draft decision to reject a merger between the country’s two dominant newspaper … Read more »

Metlifecare buys Botany site for new $140 million village

Article – BusinessDesk

April 28 (BusinessDesk) – Metlifecare has bought a 2.4 hectare site in Auckland’s Botany suburb which it plans to spend $140 million developing into a 160-unit retirement village. Read more »

SkyCity posts 4% dip in 3Q revenue as Australia struggles

Article – BusinessDesk

April 28 (BusinessDesk) – SkyCity Entertainment Group posted a 4 percent decline in third-quarter sales as its Australian businesses in Darwin and Adelaide continued to struggle while its flagship Auckland casino dealt with flat gaming revenue and … Read more »

NZ dollar falls as commodity prices weaken

Article – BusinessDesk

April 28 (BusinessDesk) – The New Zealand dollar fell to a 10-month low as weaker commodity prices restrained the currencies of countries that export raw materials, while the European Central Bank kept its policy settings unchanged as expected. Read more »

While you were sleeping: PayPal jumps

Article – BusinessDesk

April 28 (BusinessDesk) – Wall Street rose, pushing the Nasdaq to another record high, amid better-than-expected corporate earnings including from PayPal. Read more »

MARKET CLOSE: NZ stocks gain

Article – BusinessDesk

April 27 (BusinessDesk) – New Zealand shares rose, as Fletcher Building benefited from government plans to beef up infrastructure spending, A2 Milk continued to climb after upbeat guidance and SkyCity Entertainment Group and Xero continued to recover … Read more »

NZ dollar rises from four-month low

Article – BusinessDesk

NZ dollar rises from four-month low as Trump agrees to put off axing Nafta Read more »

Summerset to grapple with ripple effect from caregiver wage

Article – BusinessDesk

April 27 (BusinessDesk) – Summerset Group’s board came under pressure regarding its plans for wage-earners who won’t benefit from a recent government-funded lift in caregiver wages at its annual meeting in Wellington, but said it plans to be proactive. Read more »

Navis Capital sees $40-$80M capex for Mainland Poultry

Article – BusinessDesk

April 27 (BusinessDesk) – Navis Capital, a private equity firm with about US$5 billion of investments, says there would be between $40 million and $80 million of capital expenditure required for Mainland Poultry, building a company with export opportunities … Read more »

Rising tax take gives government more wiggle room

Article – BusinessDesk

April 27 (BusinessDesk) – New Zealand’s rising tax take, which was up 7.7 percent in the year to Feb. 28, has given the government room to beef up its infrastructure spending programme and target an aggressive debt reduction target, says Finance Minister … Read more »