Business Scoop

Archive for March, 2017

Summerset Group completes $600 million syndicated loan

Article – BusinessDesk

March 31 (BusinessDesk) – Summerset Group expands funding lines with a new $600 million syndicated loan facility refinance to pay for development projects in existing and future retirement villages as a housing boom continues and an ageing population grows. Read more »

Large Sales to Overseas Buyers Another Blow for NZ

Press Release – New Zealand First Party

The sale of Cook Strait ferry service Bluebridge and trucking company Freight Lines to Australian investors is another example of foreign owners gaining increased control of Kiwi businesses, says New Zealand First Leader and Northland Member of Parliament, … Read more »

Preliminary Issues released for Spark / TeamTalk

Press Release – Commerce Commission

Statement of Preliminary Issues released for Spark / TeamTalk merger The Commerce Commission has published a Statement of Preliminary Issues relating to Spark New Zealand Trading Limiteds proposed acquisition of TeamTalk Limited. Read more »

MARKET CLOSE: NZ shares rise, Vista and Xero gain

Article – BusinessDesk

March 31 (BusinessDesk) – New Zealand shares gained, led by Vista Group International and Xero, while Goodman Property and Arvida Group declined. Read more »

NZ dollar ends first quarter weaker than RBNZ forecast

Article – BusinessDesk

March 31 (BusinessDesk) – The New Zealand dollar is weaker than the central bank forecast on a trade-weighted basis at the end of the first quarter, although it has largely held its ground against the greenback, benefiting from disappointment over … Read more »

OIO approves Australian private equity swoop

Article – BusinessDesk

March 31 (BusinessDesk) – The Overseas Investment Office approved Australian private equity raids on New Zealand food and transport businesses, each worth more than $100 million. Read more »

Statistics House quake performance unacceptable

Article – BusinessDesk

March 31 (BusinessDesk) – Wellington’s Statistics House performed unacceptably in the November Kaikura earthquake and could have caused fatalities, an independent investigation has found. Read more »

NZME boss Boggs’s pay-packet eclipsed by mystery millionaire

Article – BusinessDesk

March 31 (BusinessDesk) – NZME chief executive Michael Boggs was the second highest-paid employee at the radio network operator and newspaper publisher last year, with a mystery million-dollar staffer taking the top pay packet. Read more »

Statistics House report “deeply concerning” – PSA

Press Release – Public Service Association

The Public Service Association Te Pkenga Here Tikanga Mahi is deeply concerned at the findings of a report into the performance of Statistics House in the 2016 Kaikura earthquake. Read more »

Blue Sky Offer Update

Press Release – NZ Binxi

NZ Binxi (Oamaru) Limited (Binxi) is disappointed to have withdrawn its takeover offer for Blue Sky Meats Ltd (Blue Sky) at $2.20 per share. Binxi has been committed to a successful offer for Blue Sky since November 2016 and has gone to significant … Read more »

Statistics House Investigation

Press Release – Ministry of Business Innovation and Employment

The performance of Wellingtons Statistics House during the Kikoura earthquake focused on the design, construction and land influences on the performance of the building. Read more »

NZ business confidence continues to decline in March

Article – BusinessDesk

March 31 (BusinessDesk) – New Zealand business confidence eased in March, continuing February’s fall, as sentiment dropped to average levels with declines from retailing, construction and agriculture. Read more »

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