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Stuff the laggard among Fairfax businesses

Article – BusinessDesk

Oct. 12 (BusinessDesk) – Stuff has been the laggard among Fairfax Media Group’s trans-Tasman businesses in recent months and may be sharpened up for divestment if a merger with Australia’s Nine Entertainment Co goes ahead. Read more »

High power prices to persist with Pohokura outage

Article – BusinessDesk

Oct. 12 (BusinessDesk) – High power prices may persist for another month with full production from the Pohokura gas field not expected to resume before late November. Read more »

$434M sale of Wrightson’s seeds fair to minorities

Article – BusinessDesk

Oct. 12 (BusinessDesk) – Danish cooperative DLF Seeds’ $434 million cash and debt bid to buy PGG Wrightson’s seeds unit is fair to minority shareholders, independent advisor KordaMentha says. Read more »

NZ manufacturing PMI eases in September, still expanding

Article – BusinessDesk

Oct. 12 (BusinessDesk) – New Zealand’s manufacturing activity was still expanding in September although a dip in production and new orders may signal tougher times ahead. Read more »

Exploration ban a risk to power security – Genesis

Article – BusinessDesk

Oct. 12 (BusinessDesk) – The governments proposed ban on new offshore exploration will create uncertainty over long-term gas supplies and risks delaying the shift away from coal in electricity generation, Genesis Energy says. Read more »

Package of assistance needed for vulnerable power consumers

Article – BusinessDesk

Oct. 12 (BusinessDesk) – Measures to help vulnerable consumers meet their energy costs need to be targeted as part of broader government support mechanisms, the Major Electricity Users Group says. Read more »

NZ dollar gains as US inflation misses expectations

Article – BusinessDesk

Oct. 12 (BusinessDesk) – The New Zealand dollar gained as weaker than expected US inflation prompted traders to reassess their expectations for faster interest rate hikes there. Read more »

PGG Wrightson expects FY19 operating earnings to match

Article – BusinessDesk

Oct. 11 (BusinessDesk) – PGG Wrightson expects full-year operating earnings to be on par with last year’s record, including earnings from the seed and grain business that it is selling to Danish cooperative DLF Seeds Read more »

MARKET CLOSE: Shares drop to 4-month low following Wall St

Article – BusinessDesk

MARKET CLOSE: NZ shares drop to 4-month low following Wall St rout; A2 slumps 11% Read more »

NZ dollar steady against greenback

Article – BusinessDesk

Oct. 11 (BusinessDesk) – The New Zealand dollar was largely unchanged against the US dollar, holding its ground despite Asian share markets tumbling after Wall Street took an overnight nosedive as investors fretted about rising US yields. Read more »

ACC to repay $100M plus interest after overcharging

Article – BusinessDesk

Oct. 11 (BusinessDesk) – Accident Compensation Corp will refund more than 300,000 business customers $100 million plus accrued interest after overcharging them for 15 years. Read more »

Jenny Shipley starts evidence in High Court in Mainzeal case

Article – BusinessDesk

Oct. 11 (BusinessDesk) – Former Prime Minister Jenny Shipley has taken the stand in the high-profile case against directors of failed property company Mainzeal. Read more »