Christchurch City has the Government’s support

Press Release – New Zealand Government

Canterbury Earthquake Recovery Minister Gerry Brownlee says the Government is encouraged by the approach being taken by Christchurch City Council in addressing financial pressures delivered by its required response to the 2010 and 2011 earthquakes. Read more »

Oji Holdings cleared to acquire CHH Pulp & Paper

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Japan’s Oji Holdings Corp has been granted antitrust approval to acquire Carter Holt Harveys pulp, paper and packaging businesses from billionaire Graeme Hart. Read more »

Christchurch City to mop up remaining shares in Lyttelton

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Christchurch City Holdings, the city’s infrastructure investment arm, says it will offer to buy the 20 percent of Lyttelton Port Co it doesn’t already own and has a lock-up agreement for Port Otago’s 15.5 percent holding. The shares … Read more »

Shanghai Pengxin agrees to buy Lochinver Station

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Shanghai Pengxin Group is adding to its portfolio of New Zealand dairy assets with agreement to acquire the 13,800 hectare Lochinver Station near Taupo reportedly worth $70 million. Read more »

Hellaby Announces Retail Goodwill Impairment

Press Release – Hellaby Holdings

Investment company Hellaby Holdings today announced that it will write down the full $26.9 million value of goodwill in its Footwear retail subsidiaries Hannahs and Number One Shoes, effective 30 June 2014 Read more »

Peer to Peer Lending Platform Harmoney Announces Full Board

Press Release – Harmoney

Peer to peer lending platform Harmoney today announced the appointment of its full board of directors. This follows the announcement in May of former GPG Chairman Rob Campbell as Harmoney Chairman. Read more »

Chch mulls sale of strategic assets stake for rebuild

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Christchurch City Council is contemplating the sale of a strategic stake in the holding company that controls the city’s port, airport and electricity network to help close the growing gap between its available funding and … Read more »

Conviction a sorry reminder of the cost of a cup of tea

Press Release – New Zealand Labour Party

John Banks conviction for filing a false election return underlines a sorry chapter in our political history, says Labour Leader David Cunliffe. “This is a sad but just end to a long career political career. Read more »

NAB CEO Thorburn takes BNZ’s Renee Roberts back to Australia

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Andrew Thorburn, head of National Australia Bank, has lured Renee Roberts back to Australia, from her executive role with Bank of New Zealand to part of his new leadership team. Read more »

Petition on Bank Stability Dismissed

Press Release – New Economics Party

The New Economics Party is disappointed that their 877 strong petition asking for a Parliamentary Enquiry on bank stability has been declined by the Select Committee on Finance and Expenditure. Read more »

Top Financial Analyst to join New Economics Party

Press Release – New Economics Party

The New Economics Party has just added top financial analyst Nicole Foss as a spokesperson on the global economy. We are delighted to welcome Nicole, Senior Editor of The Automatic Earth website to our team said party co-leader Deirdre Kent. Read more »

Argosy sells Waitakere Mega Centre for $45.8M

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Argosy Property sold its Waitakere Mega Centre in Henderson, Auckland, for its $45.8 million book value as New Zealand’s fourth-largest listed property investor seeks to reduce exposure to retail property. Read more »

UPDATE: Gentrack shares slump 19% to below IPO price

Article – BusinessDesk

Aug. 1 (BusinessDesk) – Shares of Gentrack Group plunged as much as 19 percent after the airport and utility software company said it won’t meet prospectus forecasts for sales and profit because of a customer dispute and a delayed contract upgrade. Read more »

Foss welcomes first crowd-funding licence

Press Release – New Zealand Government

Commerce Minister Craig Foss today welcomed New Zealands first equity crowd-funding and peer-to-peer lending licences. Read more »

The Fair Tax for Savers campaign – are savers over-taxed?

Press Release – Chapman Tripp

The Fair Tax for Savers campaign launched earlier this week is based on the proposition that income from at least two forms of savings is currently over-taxed. We examine this claim and the proposed solutions and conclude that the campaign: Read more »

World Credit Union Body Recognises New Zealand Director

Press Release – World Council of Credit Unions

New Zealand Association of Credit Unions (NZACU) director, Rob Nicholls, has been honoured with a prestigious international award from the World Council of Credit Unions, the international body representing more than 208 million people in 103 countries … Read more »

Savings campaign backed, urged to go further

Press Release – Employers And Manufacturers Association

The Employers and Manufacturers Association is backing the campaign for cutting taxes on KiwiSaver earnings, but says it should go further. Read more »

Great value to be found in everyday banking

Press Release – Canstar

CANSTAR releases B est Value Everyday Banking New Zealand award today, collating research of 36 credit cards, 51 deposit accounts and a range of institutional factors across 10 institutions. Read more »

Waikato-Tainui marae to receive $15 million top up

Press Release – Waikato Tainui

Waikato-Tainui Te Kauhanganui marae are set to receive a one-off grant worth more than $15 million. Following the call from Te Kauhanganui, sixty-six marae will receive a base grant of $150,000 and an additional per capita grant based on the Waikato-Tainui … Read more »

Commerce Commission: consumer credit community of interest

Press Release – Commerce Commission

The Commerce Commission is holding its first Credit Matters Roundtable in South Auckland today with a wide range of community organisations in attendance. Todays roundtable is the first in a series of three, each focusing on a different group … Read more »

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