Archive for the 'Article' Category

MARKET CLOSE: NZ stocks rise on Xero’s NYSE listing plans

Article – BusinessDesk

MARKET CLOSE: NZ stocks rise on Xero’s NYSE listing plans, Telecom climbs to 2008 highs Read more »

NZ dollar slides to 6-week low on intervention talk

Article – BusinessDesk

July 24 (BusinessDesk) – The New Zealand dollar dropped to a six-week low after Reserve Bank governor Graeme Wheeler explicitly invoked one of the criteria to intervene in currency markets in calling the kiwi’s strength “unjustified.” Read more »

Moa makes $500k placement, offers $5.25 mln in rights

Article – BusinessDesk

Jul. 24 (BusinessDesk) – Moa Group, the unprofitable boutique beer maker, raised $500,000 from five institutional investors and plans to raise up to $5.25 million in a discounted rights issue to existing shareholders. Read more »

Canadian Lynx Platinum wins South Island platinum explorati

Article – BusinessDesk

Jul. 24 (BusinessDesk) – Taranaki oil and gas explorer Tag Oil, of Canada, is expanding into the New Zealand minerals sector through its 49 percent ownership of a listed Canadian explorer, Coronado Resources, which has been awarded New Zealand five mineral … Read more »

NZ Post give network services contract to Vodafone

Article – BusinessDesk

NZ Post give network services contract to Vodafone, aiming to cut $19.2M annual spend Read more »

National signals short election campaign with Aug 23 launch

Article – BusinessDesk

July 24 (BusinessDesk) – The governing National Party will campaign for re-election for just four weeks before polling day, Sept 20. Read more »

FMA satisfied with ‘pre-offer’ talks before prospectuses

Article – BusinessDesk

July 24 (BusinessDesk) – The Financial Markets Authority sees no need to regulate how issuers and their book runners communicate with institutional investors prior to a prospectus being registered after criticism offer documents were issued too … Read more »

NZ posts eighth monthly trade surplus in June

Article – BusinessDesk

July 24 (BusinessDesk) – New Zealand posted its eighth monthly trade surplus in June, led by overseas demand for the nations primary products such as milk powder, frozen beef and kiwifruit. Read more »

Sealord appoints ex-McCain Food’s exec Yung as new CEO

Article – BusinessDesk

July 24 (BusinessDesk) – Sealord Group has appointed former McCain Foods boss Steve Yung as its new chief executive, replacing Graham Stuart who is leaving after seven years in charge of New Zealand’s second-largest fishing company. Read more »

NZ dollar falls after RBNZ says kiwi strength ‘unjustified’

Article – BusinessDesk

July 24 (BusinessDesk) – The New Zealand dollar shed almost one cent against the US dollar to a six-week low after Reserve Bank governor Graeme Wheeler said the currency’s strength was “unjustified”, invoking one of the central bank’s criteria … Read more »

RBNZ hikes OCR to 3.5%, ‘period of assessment’ now needed

Article – BusinessDesk

July 24 (BusinessDesk) – Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was … Read more »

NZ dollar little changed as investors await Reserve Bank

Article – BusinessDesk

July 24 (BusinessDesk) – The New Zealand dollar is little changed as investors are reluctant to take positions ahead of the Reserve Bank’s decision on interest rates this morning. Read more »

While you were sleeping: Apple bolsters optimism

Article – BusinessDesk

July 24 (BusinessDesk) – Wall Street was mixed, as investors digested the latest quarterly earnings including from Apple and Boeing, amid ongoing concern about violence in Ukraine and Gaza. Read more »

Xero sees 80% revenue growth this year, Intuit ‘spooked’

Article – BusinessDesk

Jul. 23 (BusinessDesk) – Cloud accounting software firm Xero updated shareholders at the annual meeting with a forecast of 80 percent revenue growth in the current financial year in constant dollar terms, and founder chief executive Rod Drury danged … Read more »

MARKET CLOSE: NZ shares gain, led by blue-chip stocks

Article – BusinessDesk

July 23 (BusinessDesk) – New Zealand shares gained, led by blue-chip stocks such as Sky Network Television, after the latest high-tech initial public offer fizzled with shares of ikeGPS sinking below its sale price. Read more »

NZ dollar extends drop vs. A$ after Australian CPI

Article – BusinessDesk

July 23 (BusinessDesk) – The New Zealand dollar extended its decline against its trans-Tasman counterpart after Australian government figures showed annual inflation accelerated to its fastest pace in four years, and ahead of the Reserve Bank of New … Read more »

English says NZ dollar ‘unsustainably high’

Article – BusinessDesk

July 23 (BusinessDesk) – Finance Minister Bill English said the New Zealand dollar, which hit a record on a trade-weighted basis this year, is “unsustainably high”. Read more »

UPDATE: IkeGPS shares drop 14% in debut on tech-flooded NZX

Article – BusinessDesk

July 23 (BusinessDesk) – Shares of IkeGPS Group, which makes portable measuring devices, slid about 14 percent in their debut on the NZX, where investors are spoiled for choice among tech companies. Read more »

Griffin’s to ramp up exports under new ownership, CEO says

Article – BusinessDesk

July 23 (BusinessDesk) – Griffin’s Foods, the maker of Gingernuts and Eta brand snacks, plans to lift exports to more than 50 percent of sales within five years by leveraging new owner Universal Robina Corp’s links in southeast Asia, says incoming chief executive … Read more »

IkeGPS shares first trade at $1, shedding 9.1% vs. IPO price

Article – BusinessDesk

July 23 (BusinessDesk) – Shares of IkeGPS Group fell 9.1 percent in their NZX debut after the portable measuring devices maker raised $25 million in new capital to build a sales force and develop its products. Read more »

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