NZ Refining says proposed strike could cost $8-$9 mln

Article – BusinessDesk

Sept. 23 (BusinessDesk) – New Zealand Refining, the nation’s only oil refinery, said two unions representing 160 of its workers, or about half its workforce, have served notice of a two-day strike next month, a move that could result in $8 million to … Read more »

Ex-OPI Finance auditor at odds with receiver over settlement

Article – BusinessDesk

Sept. 23 (BusinessDesk) – Investors in OPI Pacific Finance are still in the dark over the value of a potential deal with the failed lender’s former auditor after ASX-listed Crowe Horwath rejected the OPI receiver’s version of the settlement. Read more »

NZ dollar falls on concern over Chinese growth

Article – BusinessDesk

Sept. 23 (BusinessDesk) – The New Zealand dollar fell alongside the Australian and Canadian dollars on concern slowing growth in China would reduce demand for the countries’ commodities. Read more »

While you were sleeping: US home sales drop

Article – BusinessDesk

Sept. 23 (BusinessDesk) – Equities on both sides of the Atlantic declined, along with commodities including nickel, copper, and oil after an unexpected drop in US existing home sales and comments by China suggesting it might not aim to bolster … Read more »

MARKET CLOSE: NZ shares soar on election result, led by MRP

Article – BusinessDesk

Sept. 22 (BusinessDesk) – New Zealand shares jumped, led by MightyRiverPower, after the National Party’s convincing election victory on the weekend wiped out any regulatory fears for the power companies. Meridian Energy, Genesis Energy and Contact Energy … Read more »

NZ dollar gains on National Party election win

Article – BusinessDesk

Sept. 22 (BusinessDesk) – The New Zealand dollar gained after the incumbent National Party won a convincing election victory on the weekend, instilling confidence in the administration’s ability to continue pursuing its policy programme. Read more »

Crowd-funded film, The Patriarch, extends investor deadline

Article – BusinessDesk

Sept. 22 (BusinessDesk) – The backers of ‘The Patriarch’, a film to be directed by Lee Tamahori, have extended the equity crowd funding deadline by two weeks to raise a minimum of $300,000 of the movie’s total $9.4 million budget. Read more »

NZ Dollar Outlook: Kiwi set to take a breather in quiet week

Article – BusinessDesk

Sept. 22 (BusinessDesk) – The New Zealand dollar is lacking strong drivers this week after volatile trading last week on the back of several major events Read more »

Statutory managers end Hubbard’s Aorangi with 99% recovery

Article – BusinessDesk

Sept. 22 (BusinessDesk) – The statutory managers of Aorangi Securities, one of the failed vehicles in the stable formerly run by Timaru businessman Allan Hubbard, has been wrapped up with just above 99 percent recovered for the 400 or so investors. Read more »

NZ power companies soar after National victory

Article – BusinessDesk

Sept. 22 (BusinessDesk) – Shares of electricity generators and retailers soared, lifting the benchmark NZX 50 Index, after the National Party’s convincing election victory on the weekend wiped out any regulatory fears for the power companies. Read more »

NZ consumer confidence falls in third quarter

Article – BusinessDesk

Sept. 22 (BusinessDesk) – New Zealand consumer confidence fell in the third quarter amid signs rising interest rates and a slower pace of economic growth are dimming the outlook and kiwis’ spending plans. Read more »

Pumpkin Patch overhauls board, chair Freeman retires

Article – BusinessDesk

Sept. 22 (BusinessDesk) – Pumpkin Patch has continued to refresh its board, with chair Jane Freeman the latest to announce her departure, as the childrenswear chain tries to revive falling sales in a changing retail environment. Read more »

Synlait Milk Fy profit rises 70%, to take stake in New Hope

Article – BusinessDesk

Synlait Milk full-year profit rises 70%, to take 25% stake in New Hope Nutritional Read more »

NZ dollar rises as investors see stability after election

Article – BusinessDesk

Sept. 22 (BusinessDesk) – The New Zealand dollar advanced after the incumbent centre-right National Party won an outright election victory at the weekend, reassuring investors that current economic policies would continue. Read more »

World Week Ahead: Focus on US housing, GDP

Article – BusinessDesk

Sept. 22 (BusinessDesk) – A fresh commitment from US Federal Reserve policy makers to maintain its supportive stance for the accelerating pace of growth in the worlds economy has brightened the outlook for Wall Street and the greenback. Read more »

NZ dollar gains, stocks may follow, after National victory

Article – BusinessDesk

Sept. 22 (BusinessDesk) – The New Zealand dollar rose and local stocks may follow after the National Party won an outright election victory, removing the risk of minor parties forcing through policies unpopular with financial markets. Read more »

George Kerr to dilute stake in Pyne Gould share issue

Article – BusinessDesk

Sept. 19 (BusinessDesk) – Pyne Gould Corp’s managing director George Kerr will dilute his stake in the financial services firm if it goes ahead with a planned share issue, which will increase its stake in Equity Partners Infrastructure Co No 1, the so-called … Read more »

MARKET CLOSE: NZ shares follow Wall Street higher

Article – BusinessDesk

Sept. 19 (BusinessDesk) – New Zealand shares rose in a global rally as Wall Street climbed to records overnight, while a falling New Zealand dollar further supported local stocks. Kathmandu Holdings rose, paced by Fletcher Building and A2 Milk Co. Read more »

NZ dollar little changed on the week after Fed

Article – BusinessDesk

Sept. 19 (BusinessDesk) – The New Zealand dollar is heading for a 0.2 percent weekly decline against the greenback, after the prospect for higher US interest rates pushed the local currency to a seven-month low. Read more »

Queenstown Airport heading for record 2014

Article – BusinessDesk

Sept. 19 (BusinessDesk) – Queenstown Airport Corp, the nation’s fourth busiest airport, handled a record number of passengers this winter as it benefited from increased flights and capacity, prompting it to install a $450,000 ‘pop-up’ tent structure … Read more »