Article – BusinessDesk
By Paul McBeth
April 17 (BusinessDesk) – The New Zealand dollar is heading for a 0.8 percent fall in a shortened week ahead of the Reserve Bank’s rate review next Thursday. Read more »
Article – BusinessDesk
April 17 (BusinessDesk) – Air New Zealand says claims against it as part of a class action lawsuit in Australia over alleged price fixing on freight have been withdrawn and the airline won’t be contributing to an A$38 million settlement by other airlines. Read more »
Article – BusinessDesk
By Pattrick Smellie
April 17 (BusinessDesk) – The Labour Party has unveiled its pitch to the manufacturing sector, adding accelerated depreciation for advanced manufacturing and promising to target more government procurement from local firms. Read more »
Article – BusinessDesk
By Paul McBeth
April 16 (BusinessDesk) – The New Zealand dollar dropped to a nine-day low after slower than expected inflation raised questions over the track of rising local interest rates. Read more »
Article – BusinessDesk
By Paul McBeth
April 16 (BusinessDesk) – The New Zealand government and Christchurch City Council want to add a net 700 social housing units in the country’s second-largest city in two-and-a-half years and a bigger supply of affordable houses as part of a formal housing accord. Read more »
Article – BusinessDesk
By Suze Metherell
April 16 (BusinessDesk) – Fu Wah International Group, chaired by Chan Laiwa who is one of China’s richest women, has agreed to build a new Auckland waterfront hotel worth $200 million in partnership with Waterfront Auckland, a council body. Read more »
Article – BusinessDesk
By Paul McBeth
April 16 (BusinessDesk) – New Zealand consumer prices rose less than expected in the first quarter as a hike in tobacco taxes and more expensive housing were offset by cheaper international holidays and in-season vegetables. The kiwi dollar dropped on the data. Read more »
Article – BusinessDesk
April 16 (BusinessDesk) – BlueScope Steel, Australia’s largest steelmaker and owner of the New Zealand Steel mill, has gained antitrust approval to acquire the assets of Fletcher Building’s Pacific Steel in a $120 million deal. Read more »
Article – BusinessDesk
April 16 (BusinessDesk) – Turners & Growers, the fruit marketer controlled by Germany’s BayWa, has agreed to buy Hawke’s Bay-based Apollo Apples for as much as $44.1 million as it looks to meet growing global demand. Read more »
Article – BusinessDesk
By Paul McBeth
April 15 (BusinessDesk) – The New Zealand dollar fell ahead of a speech by Federal Reserve chair Janet Yellen as investors look for insight into the US central bank’s view on interest rates and await tomorrow’s release of local inflation figures. Read more »
Article – BusinessDesk
April 15 (BusinessDesk) – Telecom Corp, the country’s biggest telecommunications company, has trimmed the size of a banking facility, while pushing out its maturity date until 2017. Read more »
Article – BusinessDesk
By Pattrick Smellie
April 15 (BusinessDesk) – This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase Read more »
Article – BusinessDesk
April 15 (BusinessDesk) – Nufarm, the agricultural chemicals manufacturer, will close its New Zealand manufacturing plant in Auckland and shift regional production to a plant at Laverton, in the Australian state of Victoria. Read more »
Article – BusinessDesk
By Suze Metherell
April 14 (BusinessDesk) – Hellaby Holdings, whose interests range from footwear to oil and gas services, expects to add $20 million to annual revenue after buying New Zealand Trucks South Island and Dasko Marketing NZ. Read more »
Article – BusinessDesk
By Suze Metherell
April 14 (BusinessDesk) – Goodman, the manager of Goodman Property Trust, said it plans to spend $44.4 million developing three new industrial properties. Read more »
Article – BusinessDesk
By Suze Metherell
April 14 (BusinessDesk) – DNZ Property Fund, the worst performing property stock on the NZX 50 Index the past year, will shed five jobs, including two executives as it looks to cut costs. Read more »
Article – BusinessDesk
By Paul McBeth
April 11 (BusinessDesk) – The New Zealand dollar fell as weak equity markets around the world sapped demand for risk-sensitive assets, though the prospect of higher interest rates will likely give the local currency support. Read more »
Article – BusinessDesk
By Paul McBeth
April 11 (BusinessDesk) – Four major US record labels are suing Megaupload founder Kim Dotcom and his associates in an almost identical suit filed by six Hollywood movie studios earlier this week. Read more »
Article – BusinessDesk
April 11 (BusinessDesk) – Shareholders in Renaissance Corp, which sold its last business unit earlier this month, are unlikely to receive any payments before June in what will probably be a two-part distribution if they decide to liquidate the company. Read more »
Article – BusinessDesk
April 11 (BusinessDesk) – New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. Read more »
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