Archive for the 'Article' Category

MARKET CLOSE: NZ shares fall; Meridian, Genesis decline

Article – BusinessDesk

Sept. 30 (BusinessDesk) – New Zealand shares fell on the last day of quarter as investors locked in profits from a 2.2 percent gain over the period. Meridian Energy and Genesis Energy paced the day’s decline. Read more »

Mega listing deadline given another extension

Article – BusinessDesk

Sept. 30 (BusinessDesk) – The proposed backdoor listing for file storage and encryption firm Mega has been given another deadline for regulators to go through documents outlining the offer to shareholders of TRS Investments, the proposed vehicle for … Read more »

Synlait Milk gets Chinese infant formula accreditation

Article – BusinessDesk

Sept. 30 (BusinessDesk) – Synlait Milk, which plans to take a quarter-stake in Sichuan New Hope Nutritional Foods Co to gain a direct interest in a Chinese infant formula brand, has been granted accreditation to manufacture retail-ready infant formula … Read more »

NZ dollar heads for 11% slump in Sept quarter

Article – BusinessDesk

Sept. 30 (BusinessDesk) – The New Zealand dollar is heading for an 11 percent slump in the September quarter as global demand for the greenback has rallied on the prospect of rising US interest rates next year, and as the Reserve Bank of New Zealand confirmed … Read more »

Next Capital’s Vitaco the latest to settle MCN tax dispute

Article – BusinessDesk

Sept. 30 (BusinessDesk) – Vitaco Health Group, the food supplements business majority owned by Australian private equity firm Next Capital, has cut a deal with the Inland Revenue Department which will see it give up $29.9 million of tax losses generated … Read more »

Air NZ’s Luxon defends domestic regional air fares

Article – BusinessDesk

Sept. 30 (BusinessDesk) – Air New Zealand chief executive Christopher Luxon has defended its pricing on domestic regional routes, saying it’s one of only a few airlines in the world servicing as many smaller towns as it does, and that such routes are often … Read more »

NZ business confidence falls to 2-year low

Article – BusinessDesk

Sept. 30 (BusinessDesk) – New Zealand business confidence declined for a seventh month in September, to the lowest level in more than two years, as election uncertainty added to concerns about slowing economic growth, according to ANZ Bank’s latest Business … Read more »

FMA warns New Zealanders to steer clear of General Equity

Article – BusinessDesk

Sept. 30 (BusinessDesk) – The Financial Markets Authority has warned New Zealanders to exercise “extreme caution” when dealing with building society General Equity and has ordered the company to display the regulator’s warning on its website. Read more »

NZ building consents flatline in August

Article – BusinessDesk

Sept. 30 (BusinessDesk) – New Zealand building consents held steady in August from a month earlier, underpinned by approvals for apartments and retirement village units. Read more »

ICM’s Duncan Saville seeks spot on NZOG board

Article – BusinessDesk

Sept. 30 (BusinessDesk) – Duncan Saville, whose ICM unit manages ASX-listed Zeta Resources, is seeking a seat on the board of New Zealand Oil & Gas, and has the blessing of the oil explorer’s current directors. Read more »

Australia’s Quattro in talks to buy NZ properties

Article – BusinessDesk

Sept. 30 (BusinessDesk) – Quattro Asset Management, an Australian fund manager, is in negotiations to buy two Auckland industrial assets from Goodman Property Trust and two office towers in Wellington and Auckland from Precinct Properties New Zealand Read more »

Firms stick to steady as she goes on jobs front, survey says

Article – BusinessDesk

Sept. 30 (BusinessDesk) – Nearly two-thirds of employers intend keeping headcount steady this quarter, according to the latest Hudson quarterly report on employment trends. Read more »

NZ dollar catches breath after yesterday’s slump

Article – BusinessDesk

Sept. 30 (BusinessDesk) – The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month, selling the kiwi in an attempt to push its value down … Read more »

Cancelled strike leaves oil companies holding emergency fuel

Article – BusinessDesk

Sept. 29 (BusinessDesk) – The cancellation of a two day strike at the Marsden Point oil refinery next week has left the country’s four main oil companies with an unwanted 50 million litre emergency shipment of aviation fuel that set sail from South Korea … Read more »

MARKET CLOSE: NZ shares rise on weaker kiwi; Fletcher gains

Article – BusinessDesk

Sept. 29 (BusinessDesk) – New Zealand shares rose as a weaker kiwi dollar attracted investors to stocks with currency exposure such as Fletcher Building and Fisher & Paykel Healthcare. Meridian Energy extended its fall from a record. Read more »

Kiwi sinks on RBNZ intervention, PM’s ‘Goldilocks’ comment

Article – BusinessDesk

Sept. 29 (BusinessDesk) – The New Zealand dollar dropped to a 13-month low after figures confirmed the Reserve Bank intervened in foreign exchange markets last month in a bid to reinforce its downward trajectory, and after Prime Minister John Key … Read more »

Threat of refinery strike averted by further talks

Article – BusinessDesk

Sept. 29 (BusinessDesk) – Threatened strike action at New Zealand Refining, the country’s only oil refinery, has been averted. Read more »

FMA approves NZX’s new growth stocks NXT market

Article – BusinessDesk

Sept. 29 (BusinessDesk) – The Financial Markets Authority has approved the NZX’s new NXT market for high growth or “momentum” stocks, with the stock market operator expecting it to launch later this year. Read more »

UPDATE: Fonterra to launch Equity Partners’ Fund this year

Article – BusinessDesk

Sept. 29 (BusinessDesk) – Fonterra Cooperative Group wants to establish an Equity Partners’ Fund before the end of the year that would source capital from global investors for farmers in New Zealand and Australia. Read more »

Kiwi below 78 US cents as RBNZ figures show intervention

Article – BusinessDesk

Sept. 29 (BusinessDesk) – The New Zealand dollar fell below 78 US cents for the first time in more than a year after the Reserve Bank published figures showing it intervened in foreign exchange markets in August. Read more »

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