MARKET CLOSE: NZX 50 rises to record led by Genesis on yield

Article – BusinessDesk

March 6 (BusinessDesk) – New Zealand shares rose led by Genesis Energy and paced by Spark New Zealand, as the international hunt for income paying investment returned. Warehouse Group fell after it cut its forecast for the annual dividend. Read more »

UPDATE: Fliway offering IPO at $1.20 to $1.40 per share

Article – BusinessDesk

UPDATE: Transport and logistics provider Fliway offering IPO at $1.20 to $1.40 per share Read more »

Fliway seeks up to $44.5 million in first IPO of the year

Article – BusinessDesk

March 6 (BusinessDesk) – Fliway Group, the independent transport and logistics provider, is seeking to raise between $27.3million and $44.5 million through the first initial public offering on the NZX this year. Read more »

Warehouse eyes costs, better products as it targets growth

Article – BusinessDesk

March 6 (BusinessDesk) – Warehouse Group is turning its focus to reducing costs and improving its products and productivity as it seeks to get a return from its increased spending on the business. Read more »

Air NZ bins ‘opt out’ travel insurance after warning

Article – BusinessDesk

March 6 (BusinessDesk) – Air New Zealand, the national carrier, will scrap its pre-selected travel insurance option after receiving a formal warning from the Commerce Commission, which is cracking down on businesses misleading consumers with ‘opt out’ additional … Read more »

Warehouse trims FY profit, dividend forecast on weak trading

Article – BusinessDesk

March 6 (BusinessDesk) – Warehouse Group lowered its forecasts for annual profit and dividends after New Zealand’s largest listed retailer posted weaker first-half earnings as its Red Sheds and Noel Leeming units missed expectations. Read more »

MARKET CLOSE: NZ shares fall, led by Meridian, Spark

Article – BusinessDesk

March 5 (BusinessDesk) – New Zealand shares fell, led by Meridian Energy ahead of its second instalment receipt coming due in May. Spark New Zealand and Fletcher Building declined. Read more »

Seeka advises of post-harvest fire

Press Release – Seeka Kiwifruit Industries

TAURANGA, 5 March, 2015 Seeka Kiwifruit Industries Ltd (NZX-SEK) advises that a significant fire occurred at its Oakside Post-Harvest site overnight. No people were injured in the fire that is understood to have taken hold around midnight on … Read more »

CRP seeks another $1.25M to pursue new seabed mining licence

Article – BusinessDesk

March 5 (BusinessDesk) – Would-be seabed miner Chatham Rock Phosphate is looking to raise a further $1.25 million as its key staff take pay cuts and the company pursues both legislation changes and a new mining consent under the controversial new law … Read more »

Regulatory change needed to drive innovation, Stiassny says

Article – BusinessDesk

March 5 (BusinessDesk) – Michael Stiassny, chairman of Auckland lines company Vector, says current regulation doesnt incentivise the electricity sector to foster new technology into the market. Read more »

Briscoe posts 17% gain in FY profit, in line with forecast

Article – BusinessDesk

March 5 (BusinessDesk) – Briscoe Group, the homeware and sporting goods retail chain, posted a 17 percent gain in annual profit, in line with its forecast, as it widened margins on more efficient operations. Read more »

Seeka post-harvest shed fire unlikely to dent earnings

Article – BusinessDesk

March 5 (BusinessDesk) – Seeka Kiwifruit Industries, the country’s biggest kiwifruit grower, doesn’t expect earnings to be materially affected by a fire that destroyed a shed at its Oakside post-harvest site in Tauranga, with insurance likely to cover … Read more »

MARKET CLOSE: NZ shares fall; Meridian, MRP, DNZ drop

Article – BusinessDesk

March 4 (BusinessDesk) – New Zealand shares fell, led by Meridian Energy and MightyRiverPower as demand abated for companies with dependable dividend streams. Warehouse Group rose ahead of reporting its earnings this week. Read more »

Woolworths takes $28.3 mln haircut on Warehouse

Article – BusinessDesk

March 4 (BusinessDesk) – Woolworths has taken a near $28.3 million haircut on its investment in Warehouse Group after James Pascoe, the retail group owned by David and Anne Norman, bought the Australian supermarket chain’s stake in New Zealand’s … Read more »

Rex Bionics widens full-year loss as costs rise

Article – BusinessDesk

March 4 (BusinessDesk) – Rex Bionics Plc, the New Zealand firm listed on the London Stock Exchange’s AIM market, said higher costs to commercialise its robotic exoskeletons widened its full-year loss to 3.56 million pounds from 480,000 pounds a year earlier. Read more »

Spark sells Telecom Rentals for $106M to FlexiGroup

Article – BusinessDesk

March 4 (BusinessDesk) – Spark New Zealand, formerly Telecom Corp, agreed to sell its Telecom Rentals business for $106 million to Australian financial services company FlexiGroup. Read more »

NZX appoints First NZ Capital as NXT market maker

Article – BusinessDesk

March 4 (BusinessDesk) – NZX, the stock market operator, named First NZ Capital as the first brokerage to agree to be a market maker for its yet-to-be-launched NXT market for small and medium-sized companies. Read more »

NZX share trading climbs in February

Article – BusinessDesk

March 4 (BusinessDesk) – The volume and value of cash trading on New Zealand’s share market rose in February, snapping a decline a month earlier, and helped push the value of the local equity market above $100 billion. Read more »

MARKET CLOSE: NZ shares rise, led by Warehouse

Article – BusinessDesk

March 3 (BusinessDesk) – New Zealand shares rose to a fresh record pushed higher by Warehouse Group after James Pascoe lifted its stake to become the second-biggest shareholder in the retailer. Diligent Board Member Services fell after an analyst’s … Read more »

Review illustrates NZ’s positive electricity market

Press Release – Electricity Authority

The Electricity Authoritys annual review of the electricity market shows electricity demand is back on the increase, the four largest retailers are losing market share and electricity prices are being held, while technological innovations are likely … Read more »

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