On petrol pricing and calls for enquiries

Column – ACT New Zealand

Labour MP Stuart Nash recently called for a parliamentary inquiry into petrol prices. National MPs in the finance and expenditure select committee voted against such an enquiry. They were right to do so. Read more »

Fitch affirms AA- credit ratings for big four NZ banks

Article – BusinessDesk

Feb. 25 (BusinessDesk) – Fitch Ratings, the global rating agency, affirmed the credit ratings of New Zealand’s four major Australian-owned banks, saying they have conservative risk appetite, strong profitability and sound asset quality that’s expected to continue … Read more »

UPDATE: Ebos sees Asia opportunities in medium term

Article – BusinessDesk

Feb. 25 (BusinessDesk) – Ebos, which is heading for a record profit this year, sees opportunities to expand into Asia in the medium term, possibly in partnership with its biggest shareholder, Hong Kong-based Zuellig. Read more »

Commission releases approach to unfair contract terms

Press Release – Commerce Commission

The Commerce Commission has today published its final Unfair Contract Terms Guidelines and its approach to enforcing the new unfair contract terms law when it takes effect next month. Read more »

UPDATE: A2 Milk’s premium payout attracts farmer interest

Article – BusinessDesk

UPDATE: A2 Milk’s premium payout attracts farmer interest with lower dairy prices this year Read more »

KPMG welcomes debt capitalisation tax proposals

Press Release – KPMG

KPMG welcomes proposals confirming that shareholders can convert debt to equity funding for insolvent companies. This will provide business with a simple route to rationalise group structures without unwarranted tax effects. Read more »

Kiwibank cancels eftpos, debit cards in fraud investigation

Article – BusinessDesk

Feb. 24 (BusinessDesk) – Kiwibank, the government-owned lender and subsidiary of New Zealand Post, has taken urgent action and frozen some customer accounts after detecting card fraud. Read more »

NZ dollar falls as inflation expectations ease

Article – BusinessDesk

Feb. 24 (BusinessDesk) – The New Zealand dollar fell after inflation expectations dwindled in the Reserve Bank’s latest survey of local firms, who didn’t expect the central bank to raise interest rates this year, and ahead of US Federal Reserve chair … Read more »

Spark submission proves copper confusion

Press Release – Internet NZ

Sparks submission to the Commerce Commission has shown that there is still considerable confusion over the right way out of this copper pricing situation. Read more »

Aduro Biopolymers Announce Technology Licensing Partnership

Press Release – Wallace Corporation

HAMILTON, New Zealand February 24, 2015 Aduro Biopolymers LP and Wallace Corporation today announced they have signed an exclusive regional agreement with US-based Eastern BioPlastics, LLC (EBP) for the commercialization of EBPs Feather … Read more »

Spark NZ calls on ComCom to rethink Chorus wholesale charges

Press Release – Spark

Industry input costs which influence the retail prices for broadband services and landline phones – may be at least $12 a month more per customer than they should be if the Commerce Commission goes ahead with proposed new charges for access to … Read more »

Martin Aircraft Begins Trading on the ASX

Press Release – Martin Aircraft Company

New Zealand based Martin Aircraft Company Limited (ASX:MJP) manufacturer of the Martin Jetpack, the world’s first practical jetpack able to be flown by a pilot or via remote control began trading today at 11:00 AEDT on the Australian Securities … Read more »

Genesis Energy lifts 1H pretax earnings by 15%

Article – BusinessDesk

Genesis Energy lifts 1H pretax earnings by 15%, selling more electricity, gas to fewer customers Read more »

NZ dollar may extend decline as Fonterra payout, Yellen loom

Article – BusinessDesk

Feb. 23 (BusinessDesk) – The New Zealand dollar fell against the greenback and may extend its slide on speculation drought in key farming areas will weigh on an economy that may have reached its cyclical peaks, while the Federal Reserve is expected to … Read more »

NZ Dollar Outlook: Kiwi may decline as Yellen, Fonterra loom

Article – BusinessDesk

NZ Dollar Outlook: Kiwi may decline in volatile trading as Yellen testimony, Fonterra payout loom Read more »

Harbour partners with global asset manager

Press Release – Harbour Asset Management

Harbour Asset Management (Harbour) today announced that it has partnered with Baltimore-based global asset manager T. Rowe Price to bring a wholesale global equity Portfolio Investment Entity (PIE) Fund to the New Zealand market. Read more »

Cavalier first-half earnings plunge 99%

Article – BusinessDesk

Feb. 20 (BusinessDesk) – Cavalier Corp, the carpet-maker that cut annual earnings guidance three times last year, reported a 99 percent slump in first-half profit as a strong currency, increased wool prices and low wool grease prices eroded restructuring … Read more »

AMP Capital halves its stake in Skellerup

Article – BusinessDesk

Feb. 20 (BusinessDesk) – Fund manager AMP Capital Investors (New Zealand) has halved its stake in Skellerup Holdings, while remaining a substantial shareholder of the industrial rubber goods firm. Read more »

GPG’s Coats sells EMEA crafts unit for US$10 mln

Article – BusinessDesk

Feb. 20 (BusinessDesk) – Guinness Peat Group’s Coats unit, the UK threadmaker, has agreed to sell its Europe, Middle East, and Asia crafts unit for US$10 million, which has been a drag on earnings over the past year. Read more »

NZ dollar hits fresh record vs. A$ as analysts mull parity

Article – BusinessDesk

Feb. 20 (BusinessDesk) – The New Zealand dollar hit a new record against the Australian dollar overnight, with some analysts saying there is nothing to stop it pushing higher to parity. Read more »

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