Archive for the 'Article' Category

NZ dollar heads for 0.8% weekly decline

Article – BusinessDesk

NZ dollar heads for 0.8% weekly decline as Fonterra cuts payout, US GDP beats expectations Read more »

MARKET CLOSE: NZ shares join global sell off

Article – BusinessDesk

Aug. 1 (BusinessDesk) – New Zealand shares fell, led by Xero, A2 Milk Co and Pacific Edge, joining a global sell off as geopolitical risk spooked investors. Read more »

TRS extends Mega takeover timetable, confirms US$7M raised

Article – BusinessDesk

Aug. 1 (BusinessDesk) – TRS Investments, the vehicle being used to list data storage and encryption company Mega, has announced a two-month extension to Oct. 31 to gain shareholder approval for the transaction. Read more »

Taranaki iwi Ngaruahine settles Treaty claims for $67.5mln

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Taranaki iwi Ngaruahine has reached a $67.5 million settlement with the Crown for its Treaty of Waitangi claims. Read more »

Oji Holdings cleared to acquire CHH Pulp & Paper

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Japan’s Oji Holdings Corp has been granted antitrust approval to acquire Carter Holt Harveys pulp, paper and packaging businesses from billionaire Graeme Hart. Read more »

Christchurch City to mop up remaining shares in Lyttelton

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Christchurch City Holdings, the city’s infrastructure investment arm, says it will offer to buy the 20 percent of Lyttelton Port Co it doesn’t already own and has a lock-up agreement for Port Otago’s 15.5 percent holding. The shares … Read more »

Shanghai Pengxin agrees to buy Lochinver Station

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Shanghai Pengxin Group is adding to its portfolio of New Zealand dairy assets with agreement to acquire the 13,800 hectare Lochinver Station near Taupo reportedly worth $70 million. Read more »

Realestate.co.nz says unfazed by Trade Me price cutting

Article – BusinessDesk

Trade Me property’s industry-owned rival says it won’t be affected by ‘desperate fee cutting’ Read more »

Xero says on target with accelerated cash burn

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Xero, the cloud-based accounting software company, said a 47 percent increase in quarterly cash burn is on budget as it hires workers and takes on rival Intuit in the US market. Read more »

Chch mulls sale of strategic assets stake for rebuild

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Christchurch City Council is contemplating the sale of a strategic stake in the holding company that controls the city’s port, airport and electricity network to help close the growing gap between its available funding and … Read more »

NAB CEO Thorburn takes BNZ’s Renee Roberts back to Australia

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Andrew Thorburn, head of National Australia Bank, has lured Renee Roberts back to Australia, from her executive role with Bank of New Zealand to part of his new leadership team. Read more »

Kathmandu says July cold snap boosted sales, earnings

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Kathmandu Holdings says a cold snap last month in Australia and New Zealand helped generate more sales than anticipated when the outdoor apparel and equipment retailer announced a profit warning in June. The shares rose 5.1 percent. Read more »

Hellaby writes off $26.9M goodwill on struggling shoe stores

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Hellaby Holdings, the diversified investment company, will take a $26.9 million impairment against its 2014 earnings to write off goodwill on its shoe stores Hannahs and Number One Shoes, after two years of poor performance. Read more »

Argosy sells Waitakere Mega Centre for $45.8M

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Argosy Property sold its Waitakere Mega Centre in Henderson, Auckland, for its $45.8 million book value as New Zealand’s fourth-largest listed property investor seeks to reduce exposure to retail property. Read more »

UPDATE: Gentrack shares slump 19% to below IPO price

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Shares of Gentrack Group plunged as much as 19 percent after the airport and utility software company said it won’t meet prospectus forecasts for sales and profit because of a customer dispute and a delayed contract upgrade. Read more »

Gentrack says sales, profit won’t meet prospectus forecasts

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Gentrack Group, the airport and utility software company that raised almost $100 million last month selling new and existing shares, won’t meet its prospectus forecasts for sales and profit because of a customer dispute … Read more »

NZ dollar slips as greenback lifts on labour data

Article – BusinessDesk

Aug. 1 (BusinessDesk) – The New Zealand dollar weakened as US labour market data strengthened the greenback, bolstering optimism of an upbeat US non-farm payrolls report today which may reinforce the case for the Federal Reserve to hike rates sooner … Read more »

While you were sleeping: Adidas wrong-foots

Article – BusinessDesk

Aug 1 (BusinessDesk) – Equities on both side of the Atlantic sank amid concern about US interest rate policy, a surprise profit warning from Adidas and a decision by Argentina to default on its debt. Read more »

Support for National dives just as Parliament rises

Article – BusinessDesk

July 31 (BusinessDesk) – Support for the National Party has slumped five percentage points to 46 percent while combined support for the Labour and Green parties has risen 3.5 percentage points to 42 percent in the latest poll from Roy Morgan Research, … Read more »

MARKET CLOSE: NZ stocks rise; Chorus gains to 4-week high

Article – BusinessDesk

MARKET CLOSE: NZ stocks rise; Chorus gains to 4-week high; Telecom snaps 4 day decline Read more »

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