ICM’s Duncan Saville seeks spot on NZOG board

Article – BusinessDesk

Sept. 30 (BusinessDesk) – Duncan Saville, whose ICM unit manages ASX-listed Zeta Resources, is seeking a seat on the board of New Zealand Oil & Gas, and has the blessing of the oil explorer’s current directors. Read more »

Australia’s Quattro in talks to buy NZ properties

Article – BusinessDesk

Sept. 30 (BusinessDesk) – Quattro Asset Management, an Australian fund manager, is in negotiations to buy two Auckland industrial assets from Goodman Property Trust and two office towers in Wellington and Auckland from Precinct Properties New Zealand Read more »

Firms stick to steady as she goes on jobs front, survey says

Article – BusinessDesk

Sept. 30 (BusinessDesk) – Nearly two-thirds of employers intend keeping headcount steady this quarter, according to the latest Hudson quarterly report on employment trends. Read more »

NZ dollar catches breath after yesterday’s slump

Article – BusinessDesk

Sept. 30 (BusinessDesk) – The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month, selling the kiwi in an attempt to push its value down … Read more »

Cancelled strike leaves oil companies holding emergency fuel

Article – BusinessDesk

Sept. 29 (BusinessDesk) – The cancellation of a two day strike at the Marsden Point oil refinery next week has left the country’s four main oil companies with an unwanted 50 million litre emergency shipment of aviation fuel that set sail from South Korea … Read more »

MARKET CLOSE: NZ shares rise on weaker kiwi; Fletcher gains

Article – BusinessDesk

Sept. 29 (BusinessDesk) – New Zealand shares rose as a weaker kiwi dollar attracted investors to stocks with currency exposure such as Fletcher Building and Fisher & Paykel Healthcare. Meridian Energy extended its fall from a record. Read more »

Kiwi sinks on RBNZ intervention, PM’s ‘Goldilocks’ comment

Article – BusinessDesk

Sept. 29 (BusinessDesk) – The New Zealand dollar dropped to a 13-month low after figures confirmed the Reserve Bank intervened in foreign exchange markets last month in a bid to reinforce its downward trajectory, and after Prime Minister John Key … Read more »

Threat of refinery strike averted by further talks

Article – BusinessDesk

Sept. 29 (BusinessDesk) – Threatened strike action at New Zealand Refining, the country’s only oil refinery, has been averted. Read more »

FMA approves NZX’s new growth stocks NXT market

Article – BusinessDesk

Sept. 29 (BusinessDesk) – The Financial Markets Authority has approved the NZX’s new NXT market for high growth or “momentum” stocks, with the stock market operator expecting it to launch later this year. Read more »

UPDATE: Fonterra to launch Equity Partners’ Fund this year

Article – BusinessDesk

Sept. 29 (BusinessDesk) – Fonterra Cooperative Group wants to establish an Equity Partners’ Fund before the end of the year that would source capital from global investors for farmers in New Zealand and Australia. Read more »

Kiwi below 78 US cents as RBNZ figures show intervention

Article – BusinessDesk

Sept. 29 (BusinessDesk) – The New Zealand dollar fell below 78 US cents for the first time in more than a year after the Reserve Bank published figures showing it intervened in foreign exchange markets in August. Read more »

Fonterra considers equity fund as part of Farms Source launch

Article – BusinessDesk

Sept. 29 (BusinessDesk) – Fonterra Cooperative Group may establish an Equity Partners’ Fund that would source capital from investors for farmers in New Zealand and Australia. Read more »

Nats sign confidence and supply deals with ACT and Dunne

Article – BusinessDesk

Sept. 29 (BusinessDesk) – The National party has signed two confidence and supply agreements with the United Future party’s Peter Dunne, and the ACT party’s David Seymour, in the first steps towards establishing its third term as government of … Read more »

NZ dollar seen little changed in 4th quarter, survey says

Article – BusinessDesk

Sept. 29 (BusinessDesk) – The New Zealand dollar is likely to be little changed from its current level by the end of this year, providing little respite for the nation’s 1,600 avocado growers who are heading into their peak export season from September … Read more »

Fulton Hogan lifts annual earnings 43%

Article – BusinessDesk

Sept. 29 (BusinessDesk) – Fulton Hogan, the privately held construction firm, lifted annual earnings 43 percent as it cut its costs in the face of falling Australian revenue, and is looking to grow its water, rail and airport units. Read more »

Turners board backs takeover bid

Article – BusinessDesk

Sept. 29 (BusinessDesk) – The independent directors of Turners Group NZ, formerly Turners Auctions, are backing an offer to take over the car auction firm, which is at the bottom of an independent adviser’s valuation range. Read more »

Rural Equities sells assets to fund dairy conversion

Article – BusinessDesk

Sept. 29 (BusinessDesk) – Rural Equities, the farming group majority-owned by the Cushing family, sold its carbon credits and halved its stake in Australian agricultural company, Tandou, to fund the dairy conversion of its Eiffelton farm and reduce debt. Read more »

NZ dollar declines on upbeat US growth, RBNZ FX stats loom

Article – BusinessDesk

Sept. 29 (BusinessDesk) – The New Zealand dollar fell to a fresh one-year low as the greenback advanced after a report showed US economic growth accelerated at the fastest rate since late 2011, amid speculation the Reserve Bank may have intervened … Read more »

MARKET CLOSE: NZ shares drop from record, Meridian falls on

Article – BusinessDesk

Sept. 26 (BusinessDesk) – New Zealand shares fell, as the NZX 50 Index dropped from a record in a global sell off as investors took the opportunity to crystallise the bourse’s gains. Meridian Energy snapped six days of gains as it shed rights to its … Read more »

NZ dollar heads for 2.8% slide vs greenback

Article – BusinessDesk

NZ dollar heads for 2.8% slide vs greenback as Wheeler talks down kiwi, dairy payout cut Read more »