Dorchester closes oversubscribed $30M capital raise

Article – BusinessDesk

Oct. 24 (BusinessDesk) – Dorchester Pacific, the finance company midway through a takeover for Turners Group, has closed its $30 million capital raising saying the offer was oversubscribed. Read more »

New Zealanders save $30 million, and there’s more to come

Press Release – Countdown Supermarket

Countdown has announced today that New Zealand shoppers have saved more than $30 million in the first year of its Price Lockdown and Price Drop initiative a bold programme thats seen the supermarket drop the price of more than 700 grocery items … Read more »

ANZ workers to resume targeted strike action

Press Release – First Union

Workers at numerous ANZ branches around the country will resume strike action against the bank tomorrow at various times, including in nine branches around Auckland. Read more »

WA Super Now Accept KiwiSaver Contributions

Press Release – WA Super

Australian superannuation fund WA Super is thrilled to announce they will accept eligible contributions transferred from KiwiSaver accounts effective as of October 23, 2014. Read more »

RESEND: NZ dollar falls as benign inflation weighs on kiwi

Article – BusinessDesk

Oct. 23 (BusinessDesk) – The New Zealand dollar fell after figures showed inflation in the third quarter was slower than the Reserve Bank had forecast, giving it less reason to resume raising interest rates after pausing its tightening cycle in July. Read more »

NZ dollar falls as benign inflation data weighs on kiwi

Article – BusinessDesk

Oct. 23 (BusinessDesk) – The New Zealand dollar fell after figures showed inflation in the third quarter was slower than the Reserve Bank had forecast, giving it less reason to resume raising interest rates after pausing its tightening cycle in July. Read more »

New Zealand inflation still low: Downside surprises continue

Press Release – HSBC Bank

New Zealand Q3 CPI came in lower than expected, the annual rate falling from 1.6% to 1.0% (market expected 1.2%) at the bottom of the RBNZs target band and below their forecast for +1.3%. The major slowdown in price pressures came in tradable … Read more »

Elders Primary Wool, Primary Wool buy Christchurch Yarns NZ

Article – BusinessDesk

Oct. 23 (BusinessDesk) – NZ Yarn, a joint venture between Elders Primary Wool and Primary Wool Cooperative, have bought Christchurch Yarns NZ out of receivership for an undisclosed amount. Read more »

RBNZ risk management to protect system, not individual firms

Article – BusinessDesk

Oct. 23 (BusinessDesk) – The Reserve Bank’s risk management processes aim to protect the integrity of the entire financial system rather than individual entities, which should be allowed to fail to avoid moral hazard and inefficiency, the regulator says. Read more »

ANZ gets behind Grand Designs New Zealand

Press Release – ANZ New Zealand

ANZ New Zealand and TV3 have formed a production partnership to create the New Zealand version of the hit British show Grand Designs , the bank announced tonight. Read more »

Low inflation – time for meaningful wage increases

Press Release – New Zealand Council of Trade Unions

With inflation low, now is a good time for workers to negotiate for pay increases that outstrip price rises and deliver real increases in wages and salaries. For too many people, real pay increases have been missing for several years unless they … Read more »

Pyne Gould sells Epic stake after failing to gain control

Article – BusinessDesk

Oct. 23 (BusinessDesk) – Pyne Gould Corp, the asset management firm controlled by managing director George Kerr, has sold its 27 percent stake in Equity Partners Infrastructure Co No 1 after failing to take control of the investment company and oust its board. Read more »

Finance company failure in New Zealand was predictable

Press Release – University of Otago

Thursday 23 October 2014 Annual reports and other public disclosures contained enough information to predict more than 80% of New Zealand finance company failures that occurred during the recent financial crisis, a study led by the University of Otago … Read more »

CPI rises 0.3 percent in September quarter

Press Release – Statistics New Zealand

The consumers price index (CPI) rose 0.3 percent in the September 2014 quarter, Statistics New Zealand said today. This is the third consecutive quarterly rise of 0.3 percent. Read more »

NZ dollar falls ahead of inflation on prospect of low rates

Article – BusinessDesk

NZ dollar weakens ahead of 3Q inflation on speculation interest rates to stay on hold Read more »

High Court credit fees judgment clarifies rules for lenders

Press Release – Commerce Commission

The High Court yesterday released a judgment that further clarifies the rules that lenders must comply with when charging credit fees to borrowers. Read more »

NZ Super Fund encouraged to establish derivatives policy

Article – BusinessDesk

Oct. 22 (BusinessDesk) – The New Zealand Superannuation Fund, which was set up to partially cover the cost of a ballooning baby boomer pension bill, has been encouraged to bed in a series of organisational changes over the past few years, and implement … Read more »

CORRECT: ACC FY profit more than halves as claims mount

Article – BusinessDesk

Oct. 22 (BusinessDesk) – Accident Compensation Corp, the state-owned accident insurer, reported a 57 percent drop in annual profit after it faced more claims than anticipated, and as its investment portfolio returns missed expectations. Read more »

Kiwinet Challenge for new mussel-processing technologies

Press Release – KiwiNet

Sanford Limited is taking on a KiwiNet Business Challenge to uncover novel proposals for high-speed automated technologies that will help it process its current daily rate of 1.5 million mussels. Read more »

Nuplex agrees to sell ANZ units to Champ for A$127.5 mln

Article – BusinessDesk

Nuplex agrees to sell ANZ units to Champ-backed company for A$127.5 mln Read more »

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