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UPDATE: Tamarind halts Tui drilling; OMV assesses options

Article – BusinessDesk

Sept. 13 (BusinessDesk) – Tamarind Resources has halted drilling at its Tui oil field off the Taranaki coast after the first of the three planned wells came up dry. Read more »

Liquidation can be sought on small debts, appeal court finds

Article – BusinessDesk

Sept. 13 (BusinessDesk) – A company could be liquidated over a debt as small as $1,000 thanks to a Court of Appeal ruling. Read more »

$16m shortfall from Stanley-Tallwood collapse

Article – BusinessDesk

Sept. 13 (BusinessDesk) – The liquidator for Stanley Group and associated companies, including prefabrication firm Tallwood Holdings, has estimated a $16 million shortfall from the construction group’s failure. Read more »

Manufacturing contraction extends into August

Article – BusinessDesk

Sept. 13 (BusinessDesk) – New Zealands manufacturing sector contracted for a second month in August as new orders hit their lowest level in more than 10 years. Read more »

House price inflation rekindles but low sales volumes

Forecast – BusinessDesk

Sept. 13 (BusinessDesk) – House price inflation appears to be taking off again but sales volumes in August were down 6.1 percent from a year ago and at the lowest level in seven months. Read more »

Tamarind halts Tui drilling programme

Article – BusinessDesk

Sept. 13 (BusinessDesk) – Tamarind Resources has halted drilling at its Tui oil field off the Taranaki coast after the first of the three planned wells came up dry. Read more »

NZ weaker as ECB package, inflation data lifts greenback

Article – BusinessDesk

Sept. 13 (BusinessDesk) – The New Zealand dollar fell after a bigger than expected stimulus from the European Central Bank and stronger-than-expected US inflation data lifted the greenback. Read more »

MARKET CLOSE: Z Energy, Synlait crash on earnings downgrades

Forecast – BusinessDesk

Sept. 12 (BusinessDesk) – New Zealand shares fell as investors punished fuel retailer Z Energy and dairy processor Synlait Milk for earnings downgrades. Read more »

NZ dollar edges higher on US-China peace offerings

Article – BusinessDesk

Sept. 12 (BusinessDesk) – The New Zealand dollar firmed after both the United States and China each offered goodwill gestures ahead of talks aimed at ending the trade war. Read more »

Construction industry still awaiting benefits of govt accord

Forecast – BusinessDesk

Sept. 12 (BusinessDesk) – Government departments are still trying to foist onerous contracts on building companies, notwithstanding the Construction Industry Accord signed in April, Southbase chief executive Quin Henderson told an industry forum … Read more »

Fonterra’s Velocity program doesn’t appear to have delivered

Article – BusinessDesk

Sept. 12 (BusinessDesk) – Fonterra Cooperative Group’s 2015 ‘Velocity’ restructuring doesn’t appear to have achieved the savings expected and pushed up the dominant dairy exporter’s costs used in setting the regulated milk price. Read more »

Synlait to commission Pokeno plant despite legal problems

Article – BusinessDesk

Sept. 12 (BusinessDesk) – Synlait Milk will commission its new Pokeno plant before the end of the month despite an ongoing legal battle. Read more »

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