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Cheaper petrol, low mortgage rates bolster confidence

Article – BusinessDesk

Dec. 19 (BusinessDesk) – Consumer confidence rose from a six-year low in the lead-up to Christmas, as cheaper petrol and low mortgage rates left more in household budgets, the latest Westpac McDermott Miller survey shows. Read more »

The Masport distinction

Press Release – Masport

Masport Ltd refutes news articles that associate it with the closure of Precision Foundries, formerly known as Masport Foundries Ltd. Read more »

UPDATE: Bell Gully to abandon Vero Centre

Article – BusinessDesk

Dec. 18 (BusinessDesk) – Precinct Properties is gaining Bell Gully as a tenant for its Commercial Bay development some time between the year ending June 2023 and 2025 and the law firm will leave a five-floor vacancy at Kiwi Property Groups Vero … Read more »

Fletcher meets expectations with US$840m Formica sale

Article – BusinessDesk

Dec. 18 (BusinessDesk) – Fletcher Building says it has sold the Formica business for US$840 million, or NZ$1.226 billion, to Netherlands-based Broadview and will resume paying dividends. Read more »

Bell Gully to abandon Vero Centre for One Queen Street

Article – BusinessDesk

Dec. 18 (BusinessDesk) – Precinct Properties is gaining Bell Gully as a tenant for its Commercial Bay development some time between the year ending June 2023 and 2025 and the law firm will leave a five-floor vacancy at Kiwi Property Groups Vero … Read more »

Mercury to sell meter business for $270 mln

Article – BusinessDesk

Dec. 17 (BusinessDesk) – Mercury NZ has agreed to sell its Metrix metering business to IntelliHUB Group to simplify its business and focus on faster-growing activities. Read more »

Noel Leeming fined $200,000 for misleading consumers

Article – BusinessDesk

Dec. 14 (BusinessDesk) – Noel Leeming has been fined $200,000 for misleading consumers about their rights under the Consumer Guarantees Act following a Commerce Commission prosecution. Read more »

Noel Leeming fined $200,000 for misleading consumers

Press Release – Commerce Commission

Retailer Noel Leeming Group Limited (Noel Leeming) has today been fined$200,000 for misleading consumers about their rights under the Consumer Guarantees Act (CGA), following a Commerce Commission prosecution. Read more »

Australia’s GWA lobs in $118M bid for Methven

Article – BusinessDesk

Dec. 14 (BusinessDesk) – Australian kitchenware firm GWA Group is mounting a $118 million bid for Kiwi tapware maker Methven and has the blessing of cornerstone investor Brendan Lindsay, barring a better offer emerging. Read more »

ComCom nudges Fonterra towards greater transparency

Article – BusinessDesk

Dec. 14 (BusinessDesk) – The Commerce Commission wants more transparency from Fonterra Cooperative Group, saying the dairy processor hasn’t met its commitments to be more forthcoming. Read more »

Scales pays US$23.2m for 60% of US petfood manufacturer

Article – BusinessDesk

Dec. 14 (BusinessDesk) – Mr Apple owner Scales Corp says it has bought 60 percent of a United States-based petfood manufacturer. Read more »

Trade Me suitor Hellman & Friedman drops out

Article – BusinessDesk

Dec. 13 (BusinessDesk) – Trade Me suitor Hellman & Friedman has dropped out of the race to buy New Zealand’s dominant online marketplace. Read more »

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