RBNZ approves Wolfstrike’s purchase of lender FE investments

Article – BusinessDesk

May 26 (BusinessDesk) – The Reserve Bank has given the seal of approval to ASX-listed Wolfstrike Rentals Group to buy local financier FE Investments, the last hurdle the firms needed to cross in settling the deal. Read more »

NZME/Fairfax appeal merger rejection

Article – BusinessDesk

May 26 (BusinessDesk) – NZME and Fairfax New Zealand have hired the Queens Counsel whose Court of Appeal arguments helped secure the Commerce Commission’s authorisation of competition-killing merger in the wool-scouring sector which the commission then … Read more »

Briscoe’s ASX listing won’t derail cautious investment

Article – BusinessDesk

May 23 (BusinessDesk) – Briscoe Group’s cautious and methodical approach to making investments or acquisitions won’t be cast aside with the retailer’s plan to seek a secondary listing on the Australian Securities Exchange, says chair Rosanne Meo. Read more »

Designer Wardrobe completes $1.7m capital raising

Press Release – One Plus One

Online buy, sell and rent fashion marketplace, Designer Wardrobe has successfully completed a $1.7m capital raise through private equity marketplace Snowball Effect. The raise received strong support from significant investors, including Stephen Tindalls … Read more »

Commission’s alpaca case brings total fines to $1.5 million

Press Release – Commerce Commission

A company and two individuals have been fined a total of nearly $194,000 for claiming that duvets were “pure alpaca wool” or “100% cashmere”, when they contained little or no such fibres. Read more »

Powerhouse Ventures sells out of Syft

Article – BusinessDesk

May 19 (BusinessDesk) – ASX-listed tech incubator Powerhouse Ventures has sold its 1.5 percent stake in Syft Technologies after deciding the investment was too small to hold much sway with the Christchurch-based gas analysis firm. Read more »

AFT gets greenlight for nine additional European countries

Article – BusinessDesk

May 19 (BusinessDesk) – AFT Pharmaceuticals obtained regulatory approval to sell its Maxigesic painkiller in nine additional European countries, a move that lets it ramp up international sales of its tablets. Read more »

“Made in New Zealand” bee pollen was Chinese

Press Release – Commerce Commission

A health supplement company and its owner have been fined a total of $526,500 for breaching the Fair Trading Act by claiming bee pollen was New Zealand-made, when in fact it was produced and processed in China. Read more »

First NZ trims Fletcher earnings forecasts

Article – BusinessDesk

May 18 (BusinessDesk) – First NZ Capital trimmed its earnings forecasts for Fletcher Building’s 2018 and 2019 financial years but retained an ‘outperform’ rating on the stock and held the 12-month target price steady at $9.80. Read more »

Sky TV, Vodafone detail appeal on merger decision

Article – BusinessDesk

May 18 (BusinessDesk) – Sky Network Television and Vodafone New Zealand have detailed their appeal against the Commerce Commission’s decision blocking their merger, arguing the regulator was mistaken to find the combined group would substantially lessen … Read more »

Consumers of broadband and mobile services get better value

Press Release – Commerce Commission

New Zealand consumers are receiving increased value for money across a range of telecommunications services, the Commerce Commissions latest annual telecommunications monitoring report has found. Read more »

Thankyou Payroll reaches crowdfunding targets

Press Release – Thankyou Payroll

Thankyou Payroll has reached its crowdfunding target raising $459,000 through PledgeMe. The funds raised will be used to help grow its business, and meet the growing demand for its services. Were extremely grateful to the community of investors and … Read more »

Growth in ethnically diverse business community

Press Release – Office of Ethnic Communities

15 May 2017 The Office of Ethnic Communities is excited to announce this years Ethnic People in Commerce (EPIC) NZ conference, to be held in Auckland on 30 June at the Sky City Convention Centre. Diversity is a reality for New Zealand is … Read more »

Domestic Manufacturing Sales Leading the Way

Press Release – NZ Manufacturers and Exporters Association

The latest New Zealand Manufacturers and Exporters Association (NZMEA) Survey of Business Conditions, completed during April 2017, shows total sales in March 2017 increased 2.93% (year on year export sales decreased by 8.10% with domestic sales … Read more »

Vital Healthcare to buy hospitals from Acurity for $68M

Article – BusinessDesk

May 11 (BusinessDesk) – Vital Healthcare Property Trust has entered a conditional agreement with Acurity Health Group to become its long-term real estate capital partner, helping redevelopment and grow Acuritys portfolio of private hospitals in New … Read more »

Healthcare Partners seeks Court ruling

Press Release – Healthcare Partners

Healthcare Partners today filed its statement of defence with the High Court in its on-going endeavour to obtain clarity on the amount it should reimburse Abano for its partial take-over bid for the company. We are ready and willing to pay, … Read more »

StockX announces strategic partnership with Heartland Bank

Press Release – StockX

StockX is pleased to announce it has launched a strategic partnership with Heartland Bank. Read more »

Heartland Bank partners with online livestock platform

Press Release – Heartland Bank

Heartland Bank has partnered with online livestock trading platform StockX to provide its customers with direct access to the banks livestock finance platform, www.openforlivestock.co.nz , while they are considering livestock purchase and finance options. Read more »

Retailers put on alert about using misleading pricing

Press Release – Commerce Commission

The Commerce Commission is today publishing an open letter to retailers, highlighting pricing practices which might breach the law, and offering guidance on how to avoid them. Complaints about pricing were the single biggest category of complaint received … Read more »

Briscoe Group 1st Quarter Sales to 30 April 2017

Press Release – Briscoe Group

The directors of Briscoe Group Limited announce that unaudited sales for the first trading quarter ended 30 April 2017 were $141.3 million, being 6.30% higher than the $133.0 million reported for the same quarter of last year. Read more »

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