Archive for the 'Article' Category

Brilliance Steel allowed to sell steel mesh again

Article – BusinessDesk

June 1 (BusinessDesk) – Brilliance Steel, one of three companies involved in a Commerce Commission investigation into testing of ductile steel products, has reached an interim agreement with the regulator to resume sales provided the products pass independent … Read more »

G3 Group’s major shareholders likely to sell down

Article – BusinessDesk

June 1 (BusinessDesk) – The biggest shareholders in G3 Group are likely to sell some of their holdings when restrictions lift in November putting the NXT-listed mail operations and document manager back in compliance with listing rules if it hasn’t … Read more »

ExxonMobil NZ reports narrower loss in 2015

Article – BusinessDesk

June 1 (BusinessDesk) – The New Zealand division of ExxonMobil, the world’s largest publicly traded international oil and gas company, narrowed its 2015 loss even as revenue dropped 15 percent and the company spent more on refinery fees. Read more »

Pumpkin Patch shares extend slump, down 9% in trading

Article – BusinessDesk

June 1 (BusinessDesk) – Shares in the struggling childrenswear retailer Pumpkin Patch have dropped by 9 percent in trading, following similar sharp falls last week. Read more »

Shaw downplays talk of Ohariu electorate stitch up

Article – BusinessDesk

June 1 (BusinessDesk) – Green Party co-leader James Shaw says he has “never discussed the possibility with anyone” of standing for Parliament in the Wellington electorate of Ohariu under a deal to try to displace the National Party’s support … Read more »

NZ home values rise at 12.4% annual pace in May, QV says

Article – BusinessDesk

June 1 (BusinessDesk) – New Zealand residential property values continued to push higher in May, as increased demand and limited supply underpinned the market. Read more »

Kirkcaldie board holds firm on Brierley bid

Article – BusinessDesk

June 1 (BusinessDesk) – Kirkcaldie & Stains’ directors reiterated their recommendation that shareholders reject veteran corporate raider Ron Brierley’s takeover offer after raising their estimate for the cash that will be returned once lease commitments … Read more »

Two Degrees reports $33.1M full-year loss

Article – BusinessDesk

June 1 (BusinessDesk) – Two Degrees Mobile, New Zealand’s third-largest telecommunications company, reported a net loss of $33.1 million for the year to Dec. 31 on 43 percent revenue growth, cracking half a billion dollars of annual turnover for the first … Read more »

NZ terms of trade rise 4.4% in March quarter

Article – BusinessDesk

June 1 (BusinessDesk) – New Zealand’s terms of trade unexpectedly rose in the first three months of the year as cheap petrol pushed down import prices while export prices were little changed. Read more »

NZ Merino inks 5-year, $45M contract with Italy’s Reda

Article – BusinessDesk

June 1 (BusinessDesk) – The New Zealand Merino Company, which markets the nation’s wool to customers on behalf of suppliers, has signed a five-year, $45 million deal to supply fine wool to Italian luxury fabric manufacturer Successori Reda, its longest-ever … Read more »

Fronde returns to profit on pretax basis

Article – BusinessDesk

June 1 (BusinessDesk) – Fronde Systems Group, which provides IT services to businesses, returned to profit on a pretax basis after overhauling the business to cut costs in the face of falling revenue. Read more »

Oceania Natural lifts annual profit but misses guidance

Article – BusinessDesk

June 1 (BusinessDesk) – Oceania Natural, the food supplements maker which listed on the NXT at the end of March, lifted annual profit as revenue more than doubled, although it missed its earnings guidance. Read more »

Vital Healthcare flags A$84 mln spend to expand

Article – BusinessDesk

June 1 (BusinessDesk) – Vital Healthcare, which owns and develops property for hospitals and healthcare providers, plans to spend A$84 million to expand existing operations across the Tasman and make a series of new acquisitions. Read more »

NZ struggling to commercialise good innovation

Article – BusinessDesk

May 31 (BusinessDesk) New Zealanders have great ideas but the commercialisation of them was near zero, says Israeli entrepreneur Isaac Bentwich, whose latest venture, CropX, is based on technology from Landcare Research. Read more »

NZ dollar hits week high vs. pound amid ‘Brexit’ fears

Article – BusinessDesk

June 1 (BusinessDesk) – The New Zealand dollar rose to a week high against the British pound, which slumped as new polling data raised concern about a potential British exit from the European Union. Read more »

Fletcher at highest in 2016, Auckland Airport heavily traded

Article – BusinessDesk

May 31 (BusinessDesk) – New Zealand shares gained as Fletcher Building reached its highest level this year on speculation it will benefit from housing demand, while Auckland International Airport, which fell, was the most heavily traded stock. Orion … Read more »

NZ dollar gains on rising business confidence

Article – BusinessDesk

May 31 (BusinessDesk) – The New Zealand dollar gained after a survey showed business confidence rose for a third month while strong Australian exports, building approvals, and business lending figures drove up the Aussie dollar, dragging the kiwi with it. Read more »

New Labour-Greens MoU falls short of coalition

Article – BusinessDesk

May 31 (BusinessDesk) – The Labour and Green parties have signed a memorandum of understanding in which they commit to “work collaboratively to change the government”, in a move intended to demonstrate an alternative government-in-waiting while forcing … Read more »

Fonterra winds up $109M staff pension scheme

Article – BusinessDesk

May 31 (BusinessDesk) – Fonterra Cooperative Group, which is on a cost-cutting drive in the face of weak global prices, has wound up a $109 million staff pension scheme inherited from the New Zealand Dairy Board as part of the amalgamation that created … Read more »

Mercer Group to consolidate operations in Christchurch

Article – BusinessDesk

May 31 (BusinessDesk) – Mercer Group, the stainless steel fabricator, is to restructure its operations by consolidating design, engineering, and machine manufacturing in Christchurch. Read more »

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