Chatham Rock distances itself from ironsands project

Article – BusinessDesk

Sept. 25 (BusinessDesk) – Chatham Rock Phosphate, the company proposing to mine phosphate nodules from the seabed on the Chatham Rise, has distanced itself from TransTasman Resources’ ironsands dredging project and urged the Environmental Protection Authority … Read more »

Auckland Energy Consumer Trust Increases Dividend to $335

Press Release – Auckland Energy Consumer Trust

Auckland, 25 September 2014 The Auckland Energy Consumer Trust (AECT), the independent consumer trust and majority owner of infrastructure group Vector Limited, announces an increased annual dividend of $335 per AECT beneficiary, up from $330. Read more »

Auckland households to get record $335 electricity dividend

Article – BusinessDesk

Sept. 24 (BusinessDesk) – Hundreds of Auckland householders are receiving a financial boost of $335 today, in a record annual electricity dividend totalling $105 million from Auckland Energy Consumer Trust Read more »

Tight fuel supplies expected due to NZ refinery strike

Article – BusinessDesk

Sept. 24 (BusinessDesk) – Contingency plans are being put in place to prevent any potential shortfall in fuel supplies from pending industrial action next month at New Zealand Refining, the nation’s only oil refinery. Read more »

MARKET CLOSE: NZ shares rise as Nuplex flags sale

Article – BusinessDesk

Sept. 24 (BusinessDesk) – New Zealand shares rose, led by Nuplex Industries after it flagged a possible sale of two Australasian businesses. Kathmandu Holdings paced the gain, recovering from a decline after reporting weaker annual earnings yesterday. Read more »

RAM Investors Ask Minister to Fix NZ Financial Regulation

Press Release – RAM Investors Group

Investors in the failed Ross Asset Management have written to the Minister of Commerce asking him to address the appalling lack of financial regulation in NZ that has allowed the 170,000+ investors who have been robbed and stripped in recent years, to recover … Read more »

Biggest Infratil trade since January

Article – BusinessDesk

Sept. 24 (BusinessDesk) – The biggest trade in Infratil shares since January has coincided with the price hovering above a six-year high. Read more »

Boom year for Milford Funds as funds generate more fees

Article – BusinessDesk

Sept. 24 (BusinessDesk) – Milford Funds , the public issuer of Milford Asset Management’s retail funds, reported a 79 percent jump in annual fee revenue reflecting an inflow of money from investors and increase performance fees. Read more »

Fletcher to close Australian copper tube manufactuing unit

Article – BusinessDesk

Sept. 24 (BusinessDesk) – Fletcher Building, New Zealand’s largest listed company, will close its unprofitable Crane copper tube manufacturing business in Australia amid increased competition. Read more »

UPDATED: Reduced Fonterra forecast depends on lift in prices

Article – BusinessDesk

Sept. 24 (BusinessDesk) – Fonterra Cooperative Group has predicated its reduced milk price forecast for the 2014/2015 season on a recovery in dairy product prices of about 30 percent by March next year, chief executive Theo Speirings says. Read more »

Comvita sees annual earnings lift of up to 32%

Article – BusinessDesk

Sept. 24 (BusinessDesk) – Comvita, which produces health products derived from manuka honey, sees annual earnings growth of up to 32 percent, while bemoaning a growing imbalance between the first and second halves of the year. Read more »

Nuplex shares jump 7.6% as it mulls selling two ANZ units

Article – BusinessDesk

Nuplex shares jump 7.6% on confirmation it’s in talks to sell two ANZ businesses Read more »

Chorus to ask shareholders to lift directors’ fee pool 12%

Article – BusinessDesk

Sept. 24 (BusinessDesk) – Chorus, the telecommunications network operator, will ask shareholders to hike the pool for directors’ fees 12 percent if it needs to bolster its board as it tries to limit the impact of regulation on its revenue streams. Read more »

Fonterra slashes 2015 milk payout, earnings tumble 76%

Article – BusinessDesk

Sept. 24 (BusinessDesk) – Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production. Read more »

MARKET CLOSE: NZ shares rise as power companies extend gains

Article – BusinessDesk

Sept. 23 (BusinessDesk) – New Zealand shares rose as energy companies extended yesterday’s gains after the incumbent National-led government’s convincing general election win on Saturday, lifting the threat of further regulation for the power sector. Kathmandu … Read more »

Pyne Gould, EPIC lock horns before vote on sacking directors

Article – BusinessDesk

Sept. 23 (BusinessDesk) – Pyne Gould Corp and Equity Partners Infrastructure Co No 1, better known as the EPIC fund, are in a war of words ahead of a special meeting where Pyne Gould is seeking to dump the fund’s board. Read more »

Kathmandu FY profit drops 4.5%, sees Australasian growth

Article – BusinessDesk

Sept. 23 (BusinessDesk) – Kathmandu Holdings, which today posted a 4.5 percent decline in annual profit, said Australasian earnings should rise in the coming year although overall profit at the outdoor equipment retailer may be dented by investment spending. Read more »

GeoOp CEO Graham steps down to take US role with company

Article – BusinessDesk

Sept. 23 (BusinessDesk) – GeoOp chief executive Leanne Graham has resigned 11 months after the small business app developer listed on the New Zealand Alternative Index and will take a new role with the company leading its push into the US. The shares … Read more »

SLI shareholders sell 6.8% of company below IPO price

Article – BusinessDesk

Sept. 23 (BusinessDesk) – Initial shareholders of SLI Systems, the search engine developer, have sold 6.8 percent of the company at the end of a 16-month lock-up period at 23 percent below last year’s offer price. Read more »

NZ Refining says proposed strike could cost $8-$9 mln

Article – BusinessDesk

Sept. 23 (BusinessDesk) – New Zealand Refining, the nation’s only oil refinery, said two unions representing 160 of its workers, or about half its workforce, have served notice of a two-day strike next month, a move that could result in $8 million to … Read more »

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