Sealegs fined $8,000 by NZX over shortfall of independents

Article – BusinessDesk

Dec. 24 (BusinessDesk) – Sealegs Corp, the amphibious vehicle maker, has been fined $8,000 and publicly censured by the New Zealand Markets Disciplinary Tribunal after failing to maintain the minimum number of independent directors on its board. Read more »

ASB Bank pays $3.2 mln in interest rate swap deal

Article – BusinessDesk

Dec. 24 (BusinessDesk) – ASB Bank has agreed to pay $3.2 million in the latest settlement with the Commerce Commission on the sale of interest rate swaps to farmers between 2005 and 2009. Read more »

Augusta buys $58.5 mln retail property for syndication

Article – BusinessDesk

Dec. 24 (BusinessDesk) – Augusta Capital, the listed property investor and fund manager, has bought the Southgate Centre retail site in Auckland’s Takanini, which it plans to put on the market for syndication. Read more »

ANZ workers take strike action on Christmas Eve

Press Release – First Union

ANZ workers from branches and contact centres around the country are on strike today in response to the banks refusal to bargain fairly, according to the bank workers union. Read more »

News from the Angel Association of New Zealand

Press Release – Angel Association NZ

Networks around the country held a variety of up-skilling and connection events including highly recommended learning-by-doing lead investor workshops. Read more »

Angel Lee is Astill Hawke’s newest Business Buddy

Press Release – Astill Hawke

Chartered Accountant Angel Lee has become a Business Buddy at Astill Hawke and Associates in East Tamaki. Lee qualified as a chartered accountant in 2014 and previously worked in a central Auckland accounting firm for more than five years. Read more »

NZ Online Retail Sales: Monthly update for November

Press Release – Bank of New Zealand

BNZ and Marketview have released their latest monthly report on New Zealands Online Retail Sales. New Zealands total online spending in November was up a moderate 5% on the same month last year. Read more »

Christmas Spending up – Big Day Expected Tomorrow

Press Release – Retail NZ

Retail NZ says that todays spending figures from Paymark confirm anecdotal feedback that Kiwis are getting ready for Christmas. Kiwis have collectively spent $170 million more this December compared to last year, despite a flat start to the Christmas … Read more »

Wine industry shows continuing increased profitability

Press Release – Deloitte

The turnaround in the New Zealand wine industry has continued in 2014 on the back of improved profitability across wineries of all sizes, according to the ninth annual financial benchmarking survey released today by Deloitte and New Zealand Winegrowers. Read more »

GMI first to be granted new licence

Press Release – Gareth Morgan Investments

GMI is proud to announce that the Gareth Morgan Investments Limited Partnership is the first investment manager to be granted the new Discretionary Investment Management Service (DIMS) licence by the Financial Markets Authority for its Private Portfolio … Read more »

Taxpayers not suckers when it comes to casino lemon

Press Release – New Zealand Labour Party

The Government should not be asking New Zealanders to stump up extra cash to bail out John Key and Steven Joyces dodgy SkyCity convention centre deal, Labour Leader Andrew Little says. Read more »

Supreme Court decision an early Christmas present

Press Release – New Zealand Labour Party

Women on low pay in New Zealand have been given an early Christmas present with yesterdays decision by the Supreme Court not to intervene in a decision of the Court of Appeal, says Labour’s Spokesperson for Women’s Affairs, Sue Moroney. Read more »

Pernod Ricard cuts deal over convertible note tax dispute

Article – BusinessDesk

Dec. 23 (BusinessDesk) – Pernod Ricard has joined the list of firms cutting deals with the Inland Revenue Department to settle tax disputes over the use of mandatory convertible notes, a popular way to finance trans-Tasman acquisitions in the 2000s. Read more »

Survey finds 29,900 more wanting to buy homes than sell

Press Release – Horizon Research Limited

Any Reserve Bank relaxing of rules allowing banks to lend to more people with less than 20% deposits for homes would increase the number of definite buyers in the market from 5.9% to 7.3%. Read more »

Yellow’s owner may be wound up, assets moved to new vehicle

Article – BusinessDesk

Yellow’s owner may be wound up, assets moved to new vehicle, before debt deadline Read more »

Rex Bionics stock almost halves in value after sales warning

Article – BusinessDesk

Dec. 22 (BusinessDesk) – Rex Bionics, the local company which listed on the London Stock Exchanges growth-orientated AIM market in May, almost halved in value last week after it warned commercial sales will take longer than expected to eventuate. Read more »

FMA welcomed onto global forum for independent oversight

Press Release – Financial Markets Authority

The Financial Markets Authority (FMA) has been accepted on to the International Forum of Independent Audit Regulators (IFIAR), in recognition of the robust oversight system the FMA has established in New Zealand. IFIAR was established in 2006 by independent … Read more »

GPG gets warning notice over Coats pension scheme

Article – BusinessDesk

Dec. 22 (BusinessDesk) – Guinness Peat Group has received a warning notice over its Coats Pension Plan from the UK Pensions Regulator over the level of support for the superannuation scheme, which looks set to further delay its transition to the UK … Read more »

Street collection a big win for the Wellington City Mission

Press Release – Wellington City Mission

The Wellington City Missions annual Street Day Appeal had aimed to raise $40,000 when it took place on December 5th. The Mission is pleased to report that, through the generous support of volunteers, donors and their business partners, they exceeded … Read more »

Wellington’s unsung heroes funded

Press Release – Wellington City Council

Community groups have received a total of $98,848 in grants for recreation and community projects thanks to Wellington City Council. Of the 49 grants awarded, 27 were made from the Social and Recreation Fund and 22 from the newly established Neighbours … Read more »

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