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NZ dollar holds near 2 1/2 year low

Article – BusinessDesk

Aug. 16 (BusinessDesk) – The New Zealand dollar held near a two-and-a-half year low as global investors remained nervous about risk-sensitive assets after Turkey’s recent woes put the spotlight back on emerging markets. Read more »

Iwi leaders spurn Parker’s freshwater initiative

Article – BusinessDesk

Aug. 15 (BusinessDesk) – Iwi leaders have rejected the governments plans for a new Mori working group on fresh water management. Read more »

MARKET CLOSE: NZ shares rise as earnings continue

Article – BusinessDesk

Aug. 15 (BusinessDesk) – New Zealand shares rose as earnings season continued to deliver mixed results. NZX was among gainers on the day after delivering a special dividend while Heartland Bank fell on its increased bad debt provisioning. Read more »

NZ dollar gains vs Aussie on tepid wage inflation data

Article – BusinessDesk

NZ dollar gains vs Aussie as tepid wage inflation firms up view for flat rate track By Rebecca Howard Read more »

Cooks Global Foods to buy Mojo for $19M

Article – BusinessDesk

Aug. 15 (BusinessDesk) – Cooks Global Foods will buy Mojo Coffee Cartel for $19 million and support the well-known Wellington chain’s US expansion plans. Read more »

Fairfax slashes value of NZ business as Nine merger looms

Article – BusinessDesk

Aug. 15 (BusinessDesk) – Fairfax Media Group more than halved the value of its Kiwi assets, attaching just A$40 million to mastheads that were once the core of a billion dollar investment. Read more »

IAG almost doubles NZ earnings despite Fehi, Gita

Article – BusinessDesk

Aug. 15 (BusinessDesk) – Insurance Australia Group’s full-year earnings in New Zealand almost doubled despite cyclones earlier this year pushing natural peril claims beyond expectations for a second year running. Read more »

Demand for Wellington Drive’s IoT system boosts 1H sales 18%

Article – BusinessDesk

Aug. 15 (BusinessDesk) – Wellington Drive Technologies lifted first-half sales by almost a fifth as its internet-of-things cooling and inventory management system attracted new customers, including its first in the dairy sector. Read more »

False Feltex IPO forecast warrants second trial

Article – BusinessDesk

Aug. 15 (BusinessDesk) – The Supreme Court has cleared the way for former Feltex shareholders to pursue the directors of the failed carpet maker over whether a false forecast in the prospectus left them out of pocket. Read more »

Infratil, Mercury partner for $208M Tilt takeover

Article – BusinessDesk

Aug. 15 (BusinessDesk) – Mercury NZ has partnered with Infratil in a $208.5 million offer for the shares in Tilt Renewables they dont already own. Read more »

Heartland sees more earnings growth in 2019

Article – BusinessDesk

Aug. 15 (BusinessDesk) – Heartland Bank is eyeing up acquisitions to maintain double-digit earnings growth in 2019 after its reverse mortgage business underpinned an 11 percent gain in annual profit. Read more »

NZX 1H earnings fall; special dividend declared

Article – BusinessDesk

Aug. 15 (BusinessDesk) – NZX first-half earnings fell as it lifted spending as part of a plan to position itself for future growth. It will return cash from the sale of non-core assets to shareholders as a special dividend. Read more »