Tiwai Smelter termination deadline pushed out

Article – BusinessDesk

July 1 (BusinessDesk) – Meridian Energy and Rio Tinto-controlled New Zealand Aluminium Smelters have extended their electricity agreement for another month, giving the Tiwai Point smelter owner a little more time to sort out its electricity needs. Read more »

RESEND: MARKET CLOSE: NZ shares rise; Kathmandu soars

Article – BusinessDesk

June 30 (BusinessDesk) – New Zealand shares rose, led by Kathmandu Holdings after Briscoe Group flagged takeover plans. MightyRiverPower and Contact Energy advanced as investors bought defensive stocks. Read more »

MARKET CLOSE: NZ shares rise; Kathmandu up on takeover talk

Article – BusinessDesk

June 30 (BusinessDesk) – New Zealand shares rose, led by Kathmandu Holdings after Briscoe Group flagged takeover plans. MightyRiverPower and Contact Energy advanced as investors bought defensive stocks. Read more »

TeamTalk shares slide 6.3% on profit warning, debt extension

Article – BusinessDesk

June 30 (BusinessDesk) – TeamTalk shares dropped 6.3 percent after the telecommunications company warned net profit will be hit by a revaluation of interest rate swaps and said it had reduced the size of its debt facility after extending the credit line … Read more »

TeamTalk completes refinancing and updates market

Press Release – TeamTalk

NZX-listed telco TeamTalk Limited is pleased to announce that it has successfully completed its bank refinancing with Westpac. Read more »

CRP seeks farmer capital to support local phosphate supply

Press Release – NZX

Chatham Rock Phosphate is embarking on a new round of capital-raising among the farming community to develop a local supply of phosphate. CRP is seeking to raise $766,000. Read more »

Tower extends CEO Hancock’s position for 3 more months

Article – BusinessDesk

June 30 (BusinessDesk) – Tower has extended chief executive David Hancock’s contract by three months, keeping him on deck as the general insurer wraps up a number of business initiatives. Read more »

Milford invested funds in beleaguered Australian law firm

Article – BusinessDesk

June 30 (BusinessDesk) – Several Milford Asset Management funds are invested in beleaguered Australian law firm Slater & Gordon, whose share price dropped 25 percent yesterday after it said errors had been uncovered in the financial reporting … Read more »

Kathmandu shares soar on Briscoe takeover prospect

Article – BusinessDesk

June 30 (BusinessDesk) – Kathmandu shares soared to a four-month high after Briscoe Group acquired a 19.9 percent stake and said it plans to make a full takeover, raising the prospect that managing director Rod Duke could use his skills to revive the struggling … Read more »

TPP negotiations set to accelerate, Groser says

Article – BusinessDesk

June 30 (BusinessDesk) – Negotiations for the Trans-Pacific Partnership will accelerate in July, with New Zealand officials working to stitch up a deal by the month’s end, according to Trade Minister Tim Groser. Read more »

Briscoe builds 19.9% stake in Kathmandu, plans takeover

Article – BusinessDesk

June 30 (BusinessDesk) – Briscoe Group, the retailer controlled by managing director Rod Duke, has acquired 19.9 percent of Kathmandu and said it plans to make a full takeover offer for the outdoor equipment and clothing chain. Read more »

Wellington Airport returns within acceptable range

Article – BusinessDesk

June 30 (BusinessDesk) – Wellington International Airport’s revised landing fees mean the gateway’s returns fall within an acceptable range, the Commerce Commission has confirmed. Read more »

MARKET CLOSE: NZ shares join global selloff

Article – BusinessDesk

June 29 (BusinessDesk) – New Zealand shares fell, pushing the benchmark index to a five-month low, as the local bourse joined a global sell-off as talks to resolve the Greek debt crisis failed over the weekend. Pacific Edge, Xero and Air New Zealand … Read more »

Vital announces preliminary portfolio revaluation increase

Press Release – Vital Healthcare Property Trust

Vital Healthcare Management Limited (the Manager), the manager of Vital Healthcare Property Trust (Vital) today announced a preliminary unaudited portfolio revaluation increase of approximately $83m for the year ending 30 June 2015. Read more »

RESEND: SeaDragon continues with leadership changes

Article – BusinessDesk

June 29 (BusinessDesk) – Leadership changes continue at SeaDragon, the Omega 3 fish oils company, with a number of new directors being appointed to add production and supply chain management experience ahead of its move into commercial production. Read more »

Genesis to retire stored coal unit

Article – BusinessDesk

June 29 (BusinessDesk) – Genesis Energy, the country’s biggest energy retailer, will permanently retire a coal/gas fired unit at the Huntly Power Station which has been in storage as renewable and thermal generation provide more than enough electricity … Read more »

SeaDragon continues with board overhaul

Article – BusinessDesk

June 29 (BusinessDesk) – Leadership changes continue at SeaDragon, the Omega 3 fish oils company, with a number of new directors being appointed to add production and supply chain management experience ahead of its move into commercial production. Read more »

Pushpay gets $960k R&D grant from Callaghan to help scale up

Article – BusinessDesk

Pushpay gets $960,000 R&D grant from Callaghan to help scale up payment platform Read more »

World Week Ahead: Grexit looms large

Article – BusinessDesk

June 29 (BusinessDesk) – A surprise call by Greek Prime Minister Alexis Tsipras for a referendum on the latest bailout offer from the nations creditors has sharply increased the risk of default and exit from the euro as well as a surge in market … Read more »

MARKET CLOSE: NZ shares rise; Meridian, MRP gain

Article – BusinessDesk

June 26 (BusinessDesk) – New Zealand shares rose as Meridian Energy and MightyRiverPower rebounded from recent lows. Diligent Corp and Fisher & Paykel Healthcare advanced as the kiwi dollar fell. Read more »

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