TeamTalk to sell controlling stake in Farmside to Vodafone

Article – BusinessDesk

March 24 (BusinessDesk) – Unprofitable telecommunications minnow TeamTalk plans to sell a 70 percent stake in its problematic Farmside rural internet services provider to Vodafone New Zealand for $10 million, almost half what Spark New Zealand is willing … Read more »

Vodafone NZ to acquire 70% stake in TeamTalk’s Farmside

Press Release – Vodafone NZ

Vodafone New Zealand Limited ( Vodafone NZ ) and TeamTalk Limited ( TeamTalk ) (NZX: TTK) have reached an agreement that would see Vodafone NZ acquire 70 per cent of the shares in BayCity Communications Limited for $10 million in cash. Read more »

Bill to improve and strengthen tax rules passes

Press Release – New Zealand Government

A Bill to improve and strengthen the tax rules passed its third reading today, Revenue Minister Judith Collins says. Building a more competitive and productive economy for New Zealanders is a priority for this Government. Read more »

TeamTalk recommends shareholders reject Spark Offer

Press Release – TeamTalk

TeamTalk recommends shareholders reject Spark Offer of 80c independent adviser valuation range is $1.52 to $2.11 Read more »

NZ Refining gross margins edge up in start to 2017

Article – BusinessDesk

March 22 (BusinessDesk) – New Zealand Refining’s gross margins edge higher in the first two months of the year with strong throughput at the Marsden Point refinery. Read more »

Serko gets $2 million extension to Callaghan grant

Article – BusinessDesk

March 22 (BusinessDesk) – Serko, the online travel booking firm looking to turn a profit next year, has been given an extension to its Callaghan Innovation grant to spend on research and development. Read more »

How To Trade 29th March When Theresa May Triggers Brexit

Article – ThinkMarkets

It is all about trading the event and timing is very important when it comes to it. The 29thof March is the day when the British Prime Minister, Theresa May will invoke the Article 50 and the UK will be entered in divorce negotiations of leaving the … Read more »

Bargain hunters move on yesterday’s casualties

Article – CMC Markets

The soft lead from US markets has put the ASX 200 index on the back foot this morning. Read more »

Cooks Global Foods secures $10 million in new capital

Press Release – Cooks Global Foods

YunNan Metropolitan Construction Investment Group (YMCI) agrees to subscribe to $1.8 million in new Cooks shares as part of capital raising by cornerstone investors Read more »

UPDATE: Tenon shareholders back sale of Taupo mill

Article – BusinessDesk

March 20 (BusinessDesk) – Tenon shareholders have overwhelmingly backed plans to sell the firm’s Taupo wood processing mill to a consortium of US and New Zealand investors and wind up the business. Read more »

Tenon shareholders to vote on selling Taupo mill, winding up

Article – BusinessDesk

March 20 (BusinessDesk) – Tenon shareholders will today vote on whether to sell its Taupo wood processing mill to a consortium of US and New Zealand investors and wind up the business or hold on to the assets and continued as a NZX-listed company. Read more »

Fletcher Building trading halt for construction unit review

Press Release – BusinessDesk

March 17 (BusinessDesk) – Fletcher Building, the country’s biggest construction firm, is in a trading halt pending a review of the financial performance of its construction division and the impact on earnings guidance previously provided to the market, the … Read more »

NZ Windfarms commercial director John Worth to head company

Article – BusinessDesk

March 17 (BusinessDesk) – NZ Windfarms said its newly appointed commercial director John Worth will assume full responsibility for the company’s daily operations, taking over from acting chief executive Stuart Bauld. Read more »

AFT Pharmaceuticals raises $9.1M via redeemable share issue

Article – BusinessDesk

March 17 (BusinessDesk) – AFT Pharmaceuticals, which manufactures the Maxigesic painkiller, raised new funds through a redeemable share issue to fuel international growth and announced plans to raise more capital in a share purchase plan. Read more »

Fletcher Building in trading halt

Article – BusinessDesk

March 17 (BusinessDesk) – Fletcher Building, the country’s biggest construction firm, is in a trading halt pending an announcement. Read more »

BP plans to halve NZ Refining stake, selling $86 mln shares

Article – BusinessDesk

March 17 (BusinessDesk) – BP New Zealand Holdings is selling down part of its holding in the nation’s only oil refinery operator, NZ Refining, potentially reaping as much as $86 million. Read more »

MARKET CLOSE: NZ shares mixed after Fed result

Article – BusinessDesk

March 16 (BusinessDesk) – New Zealand shares were mixed after the US Federal Reserve followed expectations, with Vista Group Entertainment and Auckland International Airport gaining while Sky Network Television and Ebos Group dropped. Read more »

Briscoe posts another record profit

Article – BusinessDesk

March 14 (BusinessDesk) – Briscoe Group lifted annual profit 26 percent to deliver another record profit as the homeware and sporting goods chain bolstered fatter margins with a gain on the sale of a Hastings property and dividends from Kathmandu Holdings. Read more »

While you were sleeping: Oil sinks, euro rises

Article – BusinessDesk

March 10 (BusinessDesk) – Oil dropped amid intensifying concern about record US stockpiles, while the euro strengthened as European Central Bank President Mario Draghi said risks to the regions growth have become less pronounced. Read more »

MARKET CLOSE: NZ shares fall as Warehouse earnings weigh

Article – BusinessDesk

March 9 (BusinessDesk) – New Zealand shares dropped Warehouse Group fell on a slump in first-half earnings and Fletcher Building extended its decline, while Genesis Energy and Restaurant Brands rose. Read more »

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