NZ 3Q inflation misses expecations; kiwi drops

Article – BusinessDesk

Oct. 23 (BusinessDesk) – New Zealand inflation was steady in the third quarter of the year, slowing the annual pace of price increases, and raising the prospect of interest rates staying lower for longer after the data fell short of expectations. … Read more »

Wheeler says LVR policy worth 25-50 basis points off OCR

Article – BusinessDesk

Oct. 23 (BusinessDesk) – The Reserve Bank’s introduction of limits to low-equity mortgage lending last year had a similar impact on inflation as raising the official cash rate by as much as 50 basis points, governor Graeme Wheeler told a global banking … Read more »

NZ dollar falls ahead of inflation on prospect of low rates

Article – BusinessDesk

NZ dollar weakens ahead of 3Q inflation on speculation interest rates to stay on hold Read more »

While you were sleeping: Boeing shares, oil drop

Article – BusinessDesk

Oct. 23 (BusinessDesk) – Wall Street slid paced by Boeing as investors worried about expenses for its 787 Dreamliner passenger jet, while oil fell after a report showed US inventories rose more than expected last week. Read more »

Shell and Todd caught drilling without approval

Article – BusinessDesk

Oct. 22 (BusinessDesk) – Multi-national oil company Shell’s New Zealand arm and local energy giant Todd Energy have breached the new law governing New Zealand’s Exclusive Economic Zone, the Environmental Protection Authority says in an Oct. 10 document … Read more »

MARKET CLOSE: NZX 50 rises to record, led by Xero

Article – BusinessDesk

Oct. 22 (BusinessDesk) – New Zealand shares rose to a record close, led by Xero, as investors returned to more risk-based equities after last week’s volatility. Nuplex gained after selling two of its Australasian assets, while Fletcher Building touched … Read more »

NZ dollar gains after Australian inflation higher

Article – BusinessDesk

Oct. 22 (BusinessDesk) – The New Zealand dollar rose after Australian inflation was a little higher than expected in the third quarter, supporting demand for the Australian dollar and dragging the kiwi with it. Read more »

NZ Super Fund encouraged to establish derivatives policy

Article – BusinessDesk

Oct. 22 (BusinessDesk) – The New Zealand Superannuation Fund, which was set up to partially cover the cost of a ballooning baby boomer pension bill, has been encouraged to bed in a series of organisational changes over the past few years, and implement … Read more »

Quattro IPO back on as it halves NZ property portfolio

Article – BusinessDesk

Quattro IPO back on as it halves NZ property portfolio, cuts capital raise by 28% Read more »

CORRECT: ACC FY profit more than halves as claims mount

Article – BusinessDesk

Oct. 22 (BusinessDesk) – Accident Compensation Corp, the state-owned accident insurer, reported a 57 percent drop in annual profit after it faced more claims than anticipated, and as its investment portfolio returns missed expectations. Read more »

Vector warns on $80M hit from falling electricity use: CEO

Article – BusinessDesk

Oct. 22 (BusinessDesk) – Vector, the Auckland lines company, says falling electricity consumption will cost it up to $80 million because of the way it’s regulated, according to chief executive Simon Mackenzie. Read more »

Orion private placements provide clue for IPO price

Article – BusinessDesk

Oct. 22 (BusinessDesk) – Recent issues of Orion Health Group shares to private investors provide clues to the issue price in its upcoming initial public offer, Read more »

Fletcher drops to 2014 low as investors sell on guidance

Article – BusinessDesk

Oct. 22 (BusinessDesk) – Shares of Fletcher Building, New Zealand’s largest listed company, have fallen to their lowest level of the year after the building supplies and construction company’s earnings guidance disappointed investors. Read more »

James Pascoe increases stake in Warehouse to 6.3%

Article – BusinessDesk

Oct. 22 (BusinessDesk) – James Pascoe, the retail group owned by David and Anne Norman, has added to its holding in Warehouse Group by buying on market this week, taking advantage of shares trading near their lows for the year. Read more »

ACC annual profit more than halves as claims mount

Article – BusinessDesk

Oct. 22 (BusinessDesk) – Accident Compensation Corp, the state-owned accident insurer, reported a 57 percent drop in annual profit after it faced more claims than anticipated, and as its investment portfolio returns missed expectations. Read more »

UPDATE: Nuplex shares rise 3.9% on sale of ANZ units

Article – BusinessDesk

UPDATE: Nuplex shares rise 3.9% on sale of ANZ units to CHAMP backed company Read more »

Xero eyes possible A$1 billion float in US, media reports

Article – BusinessDesk

Oct. 22 (BusinessDesk) – Xero, the cloud-based accounting software company, is moving ahead with plans to list in the US with an initial public offer of A$1 billion flagged, according to media reports. Read more »

Seeka sees annual profit growth of up to 11%

Article – BusinessDesk

Oct. 22 (BusinessDesk) – Seeka Kiwifruit Industries, the country’s biggest kiwifruit grower, sees annual profit growth of up to 11 percent and is planning to expand its capacity in coming years as kiwifruit crops recover from the outbreak of the Psa-V … Read more »

Nuplex agrees to sell ANZ units to Champ for A$127.5 mln

Article – BusinessDesk

Nuplex agrees to sell ANZ units to Champ-backed company for A$127.5 mln Read more »

Jimmy Koh, KVB Kunlun fined, censured for NZX rule breaches

Article – BusinessDesk

Jimmy Koh, KVB Kunlun fined $65,000, censured for NZX rule breaches over Z, other IPOs Read more »