Z Energy identifies $10-$15 mln additional synergy benefits

Article – BusinessDesk

Oct. 19 (BusinessDesk) – Z Energy said it has identified $10 million to $15 million of additional savings from the integration of the Caltex and Z businesses, while the sale of an Auckland retail site for $23 million will be used to repay debt. Read more »

AWF Madison buys Absolute IT

Press Release – AWF Group

AWF Madison Group (NZX: AWF), New Zealands largest recruiter and labour provider, has entered into an agreement to purchase specialist ICT recruitment group Absolute IT with completion scheduled for November 1st 2016. Read more »

AWF Madison buys Absolute IT for $15.3mn

Article – BusinessDesk

Oct. 19 (BusinessDesk) – AWF Madison Group, the country’s largest contract labour company, has bought IT recruitment group Absolute IT for $15.3 million. Read more »

ComCom expects NZME/Fairfax ruling to get internal attention

Article – BusinessDesk

Oct. 18 (BusinessDesk) – The chair of the Commerce Commission, Mark Berry, has said he expects the outcome of their ruling on the NZME/Fairfax Media merger proposal to be of international interest. Read more »

Ninth mobile trader charged as clampdown continues

Press Release – Commerce Commission

Mobile trader, Bestdeals 4 You Limited (Bestdeals) today pleaded guilty to 19 charges brought by the Commerce Commission relating to the layby sales agreements and consumer credit contracts it offered customers. Read more »

Hansells Food relies on support of lender

Article – BusinessDesk

Oct. 17 (BusinessDesk) – Hansells Food Group says it has letters of support from two of its biggest shareholders and assumes continued funding from its lender that gives it confidence it can continue as a going concern despite losses widening. Read more »

Wynyard shares in trading halt ahead of announcement

Article – BusinessDesk

Oct. 17 (BusinessDesk) – Shares in crime-fighting software company Wynyard have been placed in a trading halt ahead of a company announcement. Read more »

Social media analytics provide skewed view of customer needs

Article – BusinessDesk

Oct. 14 (BusinessDesk) – Social media provides a skewed view of public opinion and doesn’t allow you to understand the people you want as your customers, according to Jason Mayden, the former lead designer for Nike’s Jordan brand. Read more »

$10.9m Raised with Rights Issue and Shortfall Bookbuild

Press Release – NZX

New Zealands largest refiner and blender of Omega-3 fish oils SeaDragon Limited (NZX:SEA) today announces that it has raised a total of $10.9 million under its one for two renounceable rights issue and shortfall bookbuild, of which just over $2 … Read more »

More transparency for Fonterra’s off-GDT sales required

Article – BusinessDesk

Oct. 14 (BusinessDesk) – The Commerce Commission wants Fonterra Cooperative Group to provide greater insight into the sale of reference products off the GlobalDairyTrade platform which feed into the regulated milk price. Read more »

Yoghurt Story fined for false claims

Press Release – Commerce Commission

Yoghurt Story New Zealand Limited and Frozen Yoghurt Limited have been sentenced and fined in the Auckland District Court for misleading the public about the nature and characteristics of their frozen yoghurt products. Read more »

WaterForce selects Vodafone for global SIM services

Press Release – WaterForce

WaterForce has selected Vodafone to supply its global SIM and cloud-based data management services in a deal that will clear the way for the irrigation company to scale its SCADAfarm innovation overseas. Read more »

Tenon to return $100mn to shareholders if US sale goes ahead

Article – BusinessDesk

Oct. 14 (BusinessDesk) – Taupo-based wood processor Tenon has applied to the High Court for orders to seek shareholder approval to return $100 million in capital through a share cancellation, as part of Blue Wolf Capital’s potential acquisition of its … Read more »

Standards build bridges but also trust

Press Release – New Zealand Government

Commerce and Consumer Affairs Minister Paul Goldsmith has welcomed World Standards Day being recognised today. Read more »

Draft report on Fonterra’s 2016/17 Milk Price Manual

Press Release – Commerce Commission

The Commerce Commission today released its draft report on its annual statutory review of Fonterras Milk Price Manual for the 2016/17 dairy season. The Commissions draft finding is that the 2016/17 Manual is largely consistent with the purpose of … Read more »

Wellington hosts national Chambers conference

Press Release – Wellington Chamber Of Commerce

Wellington is to host the 2016 New Zealand Chambers of Commerce annual conference tomorrow. Read more »

Air NZ sells remaining stake in Virgin Australia

Article – BusinessDesk

Air New Zealand has sold its remaining stake in Virgin Australia for A$65.7 million. In its monthly update to investors, the company said the sale was an off-market transaction with investors including the Nanshan Group. Read more »

Local innovators celebrate milestone

Press Release – Dubzz Digital Marketing

This month, Rotorua-based Dubzz Digital Marketing will celebrate their fifth birthday. After starting from scratch at a kitchen table, the local business has now flourished to a team of seven working in a CBD office while servicing over 150 clients across … Read more »

Norway’s Tomra buys fruit sorter Compac for $70 million

Article – BusinessDesk

Oct. 12 (BusinessDesk) – Norway’s Tomra Systems has agreed to buy local fruit sorting company Compac Holdings for $70 million, subject to regulatory approval. Read more »

Council Praises Co-Operative’s Engagement

Press Release – Fonterra Shareholders Council

Fonterra Shareholders Council Chairman, Duncan Coull, said the overwhelming Shareholder support for todays Special Meeting resolutions was validation of the effort the Co-operative as a whole had put into the governance and representation review process … Read more »

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