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More fund managers put pressure on Facebook, Google

Article – BusinessDesk

April 1 (BusinessDesk) – Another 18 local and international fund managers have joined the five New Zealand government-related fund managers who last month called for greater controls on multi-national social media owners Facebook, Twitter and Google. Read more »

Air NZ to defer $750 mln of capex

Article – BusinessDesk

March 28 (BusinessDesk) – Air New Zealand plans a series of cost-cutting measures to weather slowing demand including deferring $750 million of capital spending on fleet upgrades. Read more »

The conundrum of Metlifecare’s discount

Article – BusinessDesk

March 27 (BusinessDesk) – Why do Metlifecare shares trade at less than 70 cents in the dollar compared with its net tangible asset backing and yet shares in competitors such as Ryman Healthcare and Summerset Group trade at huge premiums to NTA? Read more »

Additional protections in potential Napier Port IPO

Press Release – Hawke’s Bay Regional Council

Hawkes Bay Regional Council voted today to adopt additional protections for its majority ownership position in any future initial public offer (IPO) of shares in Napier Port. Read more »

Chorus shares ‘extremely undervalued’, says shareholder

Article – BusinessDesk

March 26 (BusinessDesk) – Chorus shares hit a record earlier this month but are still “extremely undervalued”, according to its biggest shareholder. Read more »

Why Nikko sold Facebook

Article – BusinessDesk

March 26 (BusinessDesk) – As the international groundswell against Facebooks live-streaming of the Christchurch killers video grows, Nikko Asset Management says its global equities team sold its stake in the social media platform more than a year ago for … Read more »

Kathmandu lifts 1H profit 14% on margins, tax adjustment

Article – BusinessDesk

Kathmandu Holdings lifted first-half profit as expanding margins and a one-time tax adjustment bolstered extra sales from its recently acquired North American Oboz Footwear business. Read more »

Abano expects annual net profit to fall about 12%

Article – BusinessDesk

March 26 (BusinessDesk) – Abano Healthcare is forecasting annual net profit will fall 12.6 percent amid challenging conditions in Australia which have halted its purchases of new dental practices across the Tasman. Read more »

Moa Group posts ‘positive ebitda’ for summer quarter

Article – BusinessDesk

March 26 (BusinessDesk) – Moa Group, a brewer which has reported losses since listing in 2012, said it posted positive earnings over the summer quarter and is on track to achieve “near break-even profitability for the six months ending March … Read more »

NZ Shareholders’ Assn to back $2.56B Trade Me takeover

Article – BusinessDesk

March 25 (BusinessDesk) – The New Zealand Shareholders’ Association will back the $2.56 billion takeover of the local software company Trade Me at next week’s special meeting. Read more »

KiwiSaver manager Milford dumps $14m of Facebook shares

Article – BusinessDesk

March 21 (BusinessDesk) – KiwiSaver fund manager Milford Asset Management dumped its shareholdings in social media giant Facebook on Monday and joined the call from government-backed retirement fund managers for Facebook, Google and Twitter to take … Read more »

Govt fund managers call for social media changes

Article – BusinessDesk

March 20 (BusinessDesk) – The managers of five government-related funds with more than $90 billion in funds under management say they are adding their weight to callers for multi-national social media owners Facebook, Twitter and Google to take action … Read more »

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