Business Scoop
Network

Deloitte report shows building material costs are low

Article – BusinessDesk

May 17 (BusinessDesk) – The cost of building materials in New Zealand account for between 16-24 percent of the cost of residential housing development costs, depending on the type of building and location, according to a study by accounting firm Deloitte. Read more »

UPDATE: Infratil kicks off $400M equity raising

Article – BusinessDesk

May 17 (BusinessDesk) Infratils purchase of a stake in Vodafone New Zealand will be transformative for its portfolio and should generate the sort of returns that will allow the company to return to a rising dividend track, chief executive … Read more »

RBNZ censures ANZ, prescribes risk capital calculation

Article – BusinessDesk

May 17 (BusinessDesk) – The Reserve Bank of New Zealand has revoked ANZ Bank New Zealand’s accreditation to model its own operational risk capital requirement due to a “persistent failure” in its controls and attestation process. Read more »

SeaDragon shareholders back $4M injection

Article – BusinessDesk

SeaDragon shareholders back $4M injection to stave off liquidation Read more »

Businesses get some reprieve in March quarter

Article – BusinessDesk

May 17 (BusinessDesk) – Businesses got a reprieve in the March quarter as cheaper wholesale electricity helped push down the prices producers paid in the period. Read more »

NZ manufacturing activity expands on month in April

Article – BusinessDesk

May 17 (BusinessDesk) – New Zealand’s April manufacturing activity expanded versus March but was well down on the year as demand growth continues to cool. Read more »

Xero’s CEO says it still has a cautious future in the US

Article – BusinessDesk

May 17 (BusinessDesk) – Xeros chief executive still sees a future for the accounting software company in the US but hes careful to dampen expectations of whats possible. Read more »

Infratil kicks off $400M equity raising

Article – BusinessDesk

May 17 (BusinessDesk) – Infratil plans to sell about 100 million new shares at $4 each to help fund its $3.4 billion purchase of Vodafone New Zealand. Read more »

Genesis signs up to 20-year supply agreement

Article – BusinessDesk

May 17 (BusinessDesk) – Genesis Energy and Tilt Renewables have signed a 20-year supply agreement, laying the foundation for the construction of a 31-turbine wind farm in Waverley, South Taranaki. Read more »

NZ dollar weakens on strong US data, trade tensions

Article – BusinessDesk

May 17 (BusinessDesk) – The New Zealand dollar opened weaker after stronger than expected US data gave the greenback a lift and as trade tensions continue to dampen risk appetite. Read more »

MARKET CLOSE: NZ shares extend gain

Article – BusinessDesk

May 16 (BusinessDesk) – New Zealand shares rose for a second day in an increasingly volatile market. Equities rose across Asia and Chorus led the local market higher. Read more »

NZ dollar little changed after brief spike on Aussie jobs

Article – BusinessDesk

May 16 (BusinessDesk) – The New Zealand dollar ended the day little changed after spiking briefly against its Australian counterpart on mixed jobs data there. Read more »