Archive for the 'Article' Category

NZ’s R&D tax incentive plan viewed as positive

Article – BusinessDesk

April 20 (BusinessDesk) – The government’s proposal to end Callaghan Innovation’s growth grants and introduce a 12.5 percent research and development tax incentive has been widely viewed as positive by businesses but the opposition party claims … Read more »

SkyCity wants at least A$200M for Darwin casino

Article – BusinessDesk

April 20 (BusinessDesk) – SkyCity Entertainment Group wants to sell its Darwin casino business in Australia’s Northern Territory for at least A$200 million, and hasn’t yet attracted a buyer because the asking price is seen as “a little too high”, according … Read more »

Syft sales jump more than 50%

Article – BusinessDesk

April 20 (BusinessDesk) – Syft Technologies, which makes gas detection and analysis products, says sales rose more than 50 percent in its latest year, which was lower than forecast and profit growth also missed its target because of increased production … Read more »

UPDATE: Fletcher shares gain after shortfall bookbuild

Article – BusinessDesk

April 20 (BusinessDesk) – Fletcher Building shares rose 3.3 percent when they resumed trading as investors were buoyed by the premium paid in the bookbuild to clear leftover entitlements in the institutional component of a $750 million capital raise. Read more »

T&G Global to sell Kerikeri assets to Seeka

Article – BusinessDesk

April 20 (BusinessDesk) – T&G Global will sell its Kerikeri-based kiwifruit orchards, packhouse facilities and assets to Seeka, New Zealand’s biggest kiwifruit grower, in a deal worth around $40 million, the two said in a joint press release. Read more »

NZX first-quarter revenue edges up

Article – BusinessDesk

April 20 (BusinessDesk) – NZX’s first-quarter revenue edged up 0.8 percent as activity on the secondary market remained busier and its burgeoning funds management unit continued to swell, offsetting the lack of new issuers. Read more »

Fletcher’s shares resume trading today

Article – BusinessDesk

April 20 (BusinessDesk) – Fletcher Building completed the institutional component of its $750 million capital raise, with investors paying a premium to the discounted offer in a bookbuild to clear the leftover entitlements. Read more »

NZ tax take short by $800M a year on under-reporting

Article – BusinessDesk

April 20 (BusinessDesk) – New Zealand is missing out on about $800 million in its annual tax take due to the country’s self-employed under-reporting their income by about 20 percent, according to the Inland Revenue Department. Read more »

NZ dollar falls against broadly stronger greenback

Article – BusinessDesk

April 20 (BusinessDesk) – The New Zealand dollar fell against a broadly stronger greenback in the face of rising yields on US Treasuries and expectations the US economy is strong enough to see the Federal Reserve continue hiking interest rates this year. Read more »

Inflation concern, tech worries weigh on Wall St

Article – BusinessDesk

April 20 (BusinessDesk) – US stocks and Treasuries dropped on concern rising commodity prices, as the Trump administrations protectionist moves raised the spectre of a global trade war, will boost inflation and interest rates. Read more »

MARKET CLOSE: NZ shares rise led by Synlait, A2, Comvita

Article – BusinessDesk

MARKET CLOSE: NZ shares rise led by Synlait, A2, Comvita as US earnings stoke global sentiment Read more »

NZ dollar dips after domestic inflation report

Article – BusinessDesk

April 19 (BusinessDesk) – The New Zealand dollar fell against the greenback after a local data continued to show little domestic inflation, reaffirming expectations rates will stay on hold for some time yet. Read more »

Unlisted celebrates first $1 bln issue as Zespri trades

Article – BusinessDesk

April 19 (BusinessDesk) – Zespri Group’s shares rose to a record when they resumed trading, after being halted for the 2018 allocation of Gold3 kiwifruit licences, pushing the kiwifruit exporter’s market capitalisation to $1.1 billion and making … Read more »

Bitcoin may fail the ‘money’ test

Article – BusinessDesk

Bitcoin may fail the ‘money’ test and be a less suitable model for central bank issuance Read more »

Spanbild buys Mike Greer Homes in Concision factory pship

Article – BusinessDesk

April 19 (BusinessDesk) – Christchurch-based building company Spanbild has bought out Concision Panelised Technology partner Mike Greer Homes (MGH), giving it control of a building panelisation factory in Rolleston. Read more »

Scales hunts for NZ agribusiness acquisitions

Article – BusinessDesk

April 19 (BusinessDesk) – Scales Corp is eyeing potential agribusiness acquisitions that would fit well with its export apple business as the country’s largest apple grower aims to become the foremost investor in and grower of New Zealand agribusiness. Read more »

UPDATE: NZ annual inflation slows to 1.1%

Article – BusinessDesk

April 19 (BusinessDesk) – New Zealand’s annual inflation fell near to the bottom of the Reserve Bank’s target band in the first quarter but is unlikely to concern the central bank, given it was largely due to cheaper tertiary education costs. Read more »

Parker seeks policy on urban sprawl

Article – BusinessDesk

April 19 (BusinessDesk) – Environment Minister David Parker wants officials to work on a national policy statement for versatile land and high-class soils in response to a report showing changing land use such as urban sprawl and intensified farming … Read more »

NZ 1Q inflation 0.5%, annual rate slows to 1.1%

Article – BusinessDesk

NZ 1Q inflation 0.5%, annual rate slows to 1.1% as cheaper education offsets higher tobacco prices Read more »

Livestock Improvement buys back $5.3M of shares

Article – BusinessDesk

April 19 (BusinessDesk) – Farmer-owned cooperative Livestock Improvement Corp will buy back $5.3 million of its shares as part of its move to simplify its share structure. Read more »

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