Archive for the 'Article' Category

MARKET CLOSE: NZ shares rose on oil relief; Air NZ gains

Article – BusinessDesk

Dec. 18 (BusinessDesk) – New Zealand shares rose, led by OceanaGold Corp and Air New Zealand following a global rally as a rebound in oil prices and positive statements from the US Federal Reserve gave investors hope for the international economy. Arvida … Read more »

Finzsoft shareholder Rubik to consider takeover

Article – BusinessDesk

Dec. 18 (BusinessDesk) – Finzsoft Solutions shareholder Rubik Financial will consider a $3 per share takeover offer by the New Zealand software developer’s chief executive Andrew Holliday and Singaporean tech firm Silverlake Axis, once it has more information. Read more »

NZ dollar dips as GDP growth revised down, Fed eyes rates

Article – BusinessDesk

Dec. 18 (BusinessDesk) – The New Zealand dollar dipped after the country’s pace of economic growth was revised down, though continued to beat expectations, and as the Federal Reserve gets closer to making a call on whether to hike interest rates. Read more »

FMA warns of UK pension scheme transfer scare-mongering

Article – BusinessDesk

Dec. 18 (BusinessDesk) – The Financial Markets Authority is warning against misleading advertising about transferring UK pension scheme entitlements to New Zealand to avoid incoming tax and legislation charges. Read more »

Callaghan, NSC funding knocked in science plan submissions

Article – BusinessDesk

Dec. 18 (BusinessDesk) – Callaghan Innovation, which was last year allocated a budget of $566 million over four years to dish out research and development grants, and the National Science Challenges attracted criticism in submissions on the government’s … Read more »

Crown Asset Management discontinues South Canterbury claim

Article – BusinessDesk

Dec. 18 (BusinessDesk) – Crown Asset Management, the government entity set up to wind down the remaining assets of finance companies that called on the retail deposit guarantee, has discontinued its civil claim against the former directors of South … Read more »

Tourism Holdings lifts annual profit forecast to $17 million

Article – BusinessDesk

Dec. 18 (BusinessDesk) – Tourism Holdings, the biggest campervan rental company in Australia and New Zealand, has lifted its forecast for first-half and annual earnings for a second time on favourable trading conditions. Read more »

Spark’s Lightbox, Coliseum in JV to gain foothold in market

Article – BusinessDesk

Dec. 18 (BusinessDesk) – Lightbox, Spark New Zealand’s online content business, will broadcast premium sports via a joint venture with Coliseum Sports Media New Zealand as it looks to gain a foothold in the “crowded online TV marketplace”. Read more »

Finzsoft boss to make takeover bid with Silverlake Axis

Article – BusinessDesk

Dec. 18 (BusinessDesk) – Andrew Holliday, managing director of Finzsoft Solutions, intends to make a discounted takeover bid for the financial software developer in partnership with Silverlake Axis, the Bermuda-based IT company. Read more »

All Black Dan Carter increased his shareholding in Arvida

Article – BusinessDesk

Dec. 18 (BusinessDesk) – All Black Dan Carter said he increased his shareholdings in the retirement village sector when supporting the initial public offer of Arvida Group which debuted on the NZX this morning. Read more »

LIC takes majority stake in Brazilian JV partner

Article – BusinessDesk

Dec. 18 (BusinessDesk) – Livestock Improvement Corp, which provides testing and artificial breeding services to the dairy industry, has purchased a majority interest in its Brazilian genetics distributor, NZ Brasil Genetics Producao Animal for an undisclosed … Read more »

Spark, Voda and Telstra to lay new trans-Tasman cable

Article – BusinessDesk

Dec. 18 (BusinessDesk) – Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband … Read more »

NZ economy grows 1% in 3Q on milk and mining production

Article – BusinessDesk

Dec. 18 (BusinessDesk) – New Zealand’s economy grew at a faster pace than expected in the September quarter as a good start to the dairy season and increased oil and gas activity stoked activity. Read more »

Shares of Arvida edge up 2 percent in debut on NZX

Article – BusinessDesk

Dec. 18 (BusinessDesk) – Shares of Arvida Group, the new retirement village operator, rose 2 percent on its NZX debut after its initial public offer raised $80 million in capital which will be used to reduce debt. Read more »

Publisher defers comment on suspended Callaghan grant

Article – BusinessDesk

Dec. 18 (BusinessDesk) – Trends Publishing International chairman David Johnson says he cant comment on specific allegations following the suspension of a three-year research and development growth grant by Callaghan Innovation after an audit of its … Read more »

UPDATE: NZ dollar tumbles after Yellen firms on rate rise

Article – BusinessDesk

Dec. 18 (BusinessDesk) – The New Zealand dollar tumbled about 1 US cent after US Federal Reserve chair Janet Yellen indicated higher US interest rates are coming, and was more upbeat about the state of the world’s biggest economy. Read more »

NZ dollar rallies after Fed stance disappoints markets

Article – BusinessDesk

Dec. 18 (BusinessDesk) – The New Zealand dollar rallied after the US Federal Reserve’s policy statement disappointed investors who were expecting the central bank to have a stronger bias toward raising interest rates next year. Read more »

While you were sleeping: Oil gushes lifting equities

Article – BusinessDesk

Dec. 18 (BusinessDesk) – Wall Street rose as oil rebounded amid speculation it had fallen too far too fast and as investors positioned for the last policy statement of the year from the US central bank. Read more »

Connor Healthcare tries again for Acurity takeover

Article – BusinessDesk

Dec. 17 (BusinessDesk) – The three biggest shareholders of Wellington hospital owner Acurity Health Group have put a second application to the Commerce Commission, reducing one shareholder’s influence on the holding company, Connor Healthcare, in a bid to … Read more »

UPDATE: Callaghan suspends R&D grant for 1st time, calls SFO

Article – BusinessDesk

Dec. 17 (BusinessDesk) – Callaghan Innovation has suspended a research and development growth grant to Trends Publishing International Ltd, the first time it’s done so, following an audit of its funding claims and referred the matter to the Serious Fraud … Read more »

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