NZ commodity prices fall for 6th month in August, ANZ says

Article – BusinessDesk

Sept. 2 (BusinessDesk) – New Zealand commodity prices fell for a sixth straight month in August, taking the index to a 17-month low, led by declining dairy prices, in part due to an oversupply in China. Read more »

CERA to be rolled into DPMC ahead of rebuild wind-down

Article – BusinessDesk

Sept. 2 (BusinessDesk) – The government will fold the Canterbury Earthquake Recovery Authority into the Department of Prime Minister and Cabinet early next year as it begins a long-term withdrawal from its hands-on involvement in the Christchurch rebuild. Read more »

Huhtamaki buys carton maker Interpac Packaging for 7M euros

Article – BusinessDesk

Sept. 2 (BusinessDesk) – Huhtamaki Oyj, the Finnish packaging manufacturer, bought Auckland-based folding carton maker Interpac Packaging for 7 million euros to expand its product range. Read more »

Lyttelton offer amounts to premium up to 14%: adviser report

Article – BusinessDesk

Sept. 2 (BusinessDesk) – Christchurch City Holdings’ offer to mop up the remaining shares in Lyttelton Port Co amounts to a premium of up to 14 percent, according to a report from the independent adviser that recommends it be accepted. Read more »

Spark deregisters its stock in the US

Article – BusinessDesk

Sept. 2 (BusinessDesk) – Spark New Zealand, previously known as Telecom Corp and once the largest company on the nation’s stock exchange before its network arm was split off into Chorus, is deregistering trading of its stock in the US. Read more »

NZ dollar holds steady ahead of US manufacturing data

Article – BusinessDesk

Sept. 2 (BusinessDesk) – The New Zealand dollar was little changed along with other major currencies as weak manufacturing PMI data from China to Europe had traders looking ahead to manufacturing figures from the US tonight. Read more »

While you were sleeping: Global manufacturing slows

Article – BusinessDesk

Sept 2 (BusinessDesk) – European stocks crept higher, while bonds rose, even as data showed manufacturing slowed in the euro zone, the UK and China, stoking concern about the strength of the global economy. Read more »

Lyttelton Port board backs council takeover proposal

Article – BusinessDesk

Sept. 1 (BusinessDesk) – The board of Lyttelton Port Co has backed a takeover bid by council subsidiary Christchurch City Holdings, and will resolve to pay a special dividend to existing shareholders. Read more »

MARKET CLOSE: NZ shares fall, led by MRP, Meridian

Article – BusinessDesk

Sept. 1 (BusinessDesk) – New Zealand shares fell, led by MightyRiverPower as ongoing political uncertainty ahead of the country’s general election this month weighed on investors. A2 Milk Co and Pacific Edge paced the decline. Read more »

NZ dollar rises as terms of trade hold at 40-year high

Article – BusinessDesk

Sept. 1 (BusinessDesk) – The New Zealand dollar edged up after government figures showed the nation’s terms of trade stayed at a 40-year high in the second quarter as a stronger currency provided cheaper imports and offset the impact of falling … Read more »

Gentrack secures delayed contract, shares rise to month high

Article – BusinessDesk

Sep. 1 (BusinessDesk) – Gentrack Group, the airport and utility software developer, has resolved the delayed contract upgrade with a customer which, in part, caused it to cut its prospectus full-year profit forecast barely six weeks after the company … Read more »

Datacom boosts profit 43% on strong NZ growth

Article – BusinessDesk

Sept. 1 (BusinessDesk) – Datacom Group, the privately-held IT services firm, boosted annual earnings by 43 percent as gains in New Zealand offset a weaker Australian market and reduced Asian revenue after the sale of a call centre. Read more »

NZ Dollar Outook: Kiwi may fall this week amid weaker data

Article – BusinessDesk

Sept. 1 (BusinessDesk) – The New Zealand dollar may decline this week as weaker commodity prices and building activity weigh on the local currency, while US data continues to improve. Read more »

NZ terms of trade sets new 40-year high in 2nd quarter

Article – BusinessDesk

NZ terms of trade sets new 40-year high as cheaper imports offset falling exports Read more »

APN may list local unit on New Zealand sharemarket

Article – BusinessDesk

Sept. 1 (BusinessDesk) – APN News & Media, which publishes the New Zealand Herald, may list its New Zealand business on the local sharemarket. Read more »

Allied Farmers back in black as livestock unit grows

Article – BusinessDesk

Sept. 1 (BusinessDesk) – Allied Farmers, which is rebuilding from a disastrous takeover of the Hanover and United Finance loan books, returned to profit as its core livestock unit lifted income with gains in Taranaki and Waikato. Read more »

NZ dollar rises vs. Russian ruble amid Ukraine tension

Article – BusinessDesk

NZ dollar rises to 4-month high vs. Russian ruble on rising tensions over Ukraine Read more »

Brierley sells A$2.7 mln of GPG shares

Article – BusinessDesk

Sept. 1 (BusinessDesk) – Veteran corporate raider Ron Brierley sold A$2.7 million of shares in Guinness Peat Group, the investment firm he founded in the early 1990s, and has raised more than $20 million since he started selling in late 2012. Read more »

World Week Ahead: Focus on US jobs, ECB

Article – BusinessDesk

Sept. 1 (BusinessDesk) – US employment data and a meeting of policymakers at the European Central Bank will renew the focus on when interest rates will begin to rise in the US, and the degree and timing of additional stimulus in the euro zone. Read more »

“Far more serious” allegations, says Key, as Collins resigns

Article – BusinessDesk

Aug. 30 (BusinessDesk) – Prime Minister John Key has been handed a cast-iron excuse to rid his government of its troublesome Justice Minister, Judith Collins, using an email supplied anonymously to his office yesterday which appears to show Collins … Read more »