Harmoney founder and CEO Neil Roberts leaves board

Article – BusinessDesk

July 30 (BusinessDesk) – Neil Roberts, founder and majority owner of Harmoney Corp, has stepped down from the peer-to-peer lender’s board but will remain as chief executive. Read more »

NZ billionaires generally increased their wealth

Article – BusinessDesk

NZ billionaires generally increased their wealth, as record 15 new entrants added to NBR Rich List Read more »

Todd family patriarch Sir John Todd dies

Article – BusinessDesk

July 30 (BusinessDesk) – Sir John Todd, the patriarch of New Zealand’s wealthy Todd family, has died aged 88 after a period of illness. Read more »

CDL Investments lifts 1H profit 3.6% on ‘satisfactory’ sales

Article – BusinessDesk

July 30 (BusinessDesk) – CDL Investments, the residential property developer controlled by Millennium & Copthorne Hotels New Zealand, lifted first-half profit 3.6 percent on what it called “satisfactory” sales which reflected the current market. Read more »

Jetstar has 6th NZ domestic route, adds trans-Tasman flights

Article – BusinessDesk

July 30 (BusinessDesk) – Jetstar, the low-cost offshoot of Australian-owned Qantas Airways, will add a sixth domestic route with a new Wellington/Dunedin schedule and bolster its trans-Tasman flights as it looks to win passengers from dominant rival … Read more »

Brierley’s Mercantile wins over Ask Funding board

Article – BusinessDesk

July 30 (BusinessDesk) – Ron Brierley’s Mercantile Investment has won over the board of takeover target Ask Funding after sweetening its offer last week. Read more »

Radford to stay at Bethunes board after Mowbray departs

Article – BusinessDesk

July 30 (BusinessDesk) – Bethunes Investments’ outgoing chairman Murray Radford will stay on the board of the auction house formerly known as Mowbray Collectables after founder John Mowbray declared his resignation as director yesterday. Read more »

NZ home building consents fall 4.1% in June

Article – BusinessDesk

July 30 (BusinessDesk) – New Zealand residential building consents fell 4.1 percent in June as construction intentions in Canterbury tapered off, with the region’s housing rebuild nearing a plateau. Read more »

NZOG seeks partners for 2017 drilling offshore Otago

Article – BusinessDesk

July 30 (BusinessDesk) – New Zealand Oil & Gas says exploration drilling of the Barque prospect in the Canterbury basin, which has the potential to be the nation’s biggest-ever hydrocarbon discovery, is expected to start in 2017, subject to securing … Read more »

Saatchi & Saatchi NZ billings drop, Clemenger commissions up

Article – BusinessDesk

Saatchi & Saatchi NZ owner’s 2014 billings drop 4.7%, Clemenger’s commissions rise 6.3% Read more »

Turners buys Southern Finance for $5 million

Article – BusinessDesk

July 30 (BusinessDesk) – Turners, formerly known as Dorchester Pacific, has bought Southern Finance for $5 million, giving the finance company greater exposure in the South Island as it continues to expand its loan book. Read more »

Heartland says 2016 profit may rise as much as 15%

Article – BusinessDesk

July 30 (BusinessDesk) – Heartland New Zealand, the Auckland-based lender, said profit may rise as much as 15 percent in 2016, while affirming its guidance for earnings this year to reach the top of its forecast range. Read more »

Briscoe says first-half profit rose at least 8.1%

Article – BusinessDesk

July 30 (BusinessDesk) – Briscoe Group, the retail chain mounting a hostile takeover of Kathmandu Holdings, says first-half profit rose at least 8.1 percent, outpacing sales growth in the period, as the company continued to fatten its margins. Read more »

Gentrack CEO Docking to leave after decade in charge

Article – BusinessDesk

July 30 (BusinessDesk) – Gentrack Group chief executive James Docking is to leave next year, ending a decade-long tenure as leader of the transport and utilities software developer. Read more »

While you were sleeping: Wall St gains on Fed

Article – BusinessDesk

July 30 (BusinessDesk) – Wall Streets rally accelerated on better-than-expected earnings and after the US Federal Reserve kept alive expectations it will raise its target interest rate this year as the outlook for the economy brightens. Read more »

NZ dollar falls as upbeat Fed drives greenback higher

Article – BusinessDesk

July 30 (BusinessDesk) – The New Zealand dollar fell after the Federal Reserve noted a strengthening US labour market and improvement in the housing market, factors that may herald a lift in US interest rates from near zero. The greenback was broadly … Read more »

MARKET CLOSE: NZ shares rise; F&P Healthcare gains to record

Article – BusinessDesk

July 29 (BusinessDesk) – New Zealand shares rose as a decline in the currency and the promise of lower interest rates boosted sentiment for equities. Meridian Energy led the market higher, as Fisher & Paykel Healthcare rose to a record. Read more »

Mainfreight calls for transport strategy involving KiwiRail

Article – BusinessDesk

July 29 (BusinessDesk) – Mainfreight chairman Bruce Plested has criticised what he says is the government’s lack of a national transport plan, throwing his support behind state-owned rail operator KiwiRail and calling it an integral part of the … Read more »

‘Unprecedented’ building activity seen on back of Auckland

Article – BusinessDesk

July 29 (BusinessDesk) – An “unprecedented” level of building work is predicted over the coming six years, due largely to Auckland’s housing boom, a new reports says. Read more »

IkeGPS eyes US market listing, needs cornerstone investor

Article – BusinessDesk

July 29 (BusinessDesk) – Ike GPS, the laser measurement tool developer, is mulling a US listing but is first looking for a cornerstone shareholder from its major market. Read more »