Archive for the 'Article' Category

NZ dollar extends drop vs. A$ after Australian CPI

Article – BusinessDesk

NZ dollar extends drop vs. A$ after Australian inflation accelerates; RBNZ looms

By Paul McBeth

July 23 (BusinessDesk) – The New Zealand dollar extended its decline against its trans-Tasman counterpart after Australian government figures showed annual inflation accelerated to its fastest pace in four years, and ahead of the Reserve Bank of New Zealand’s interest rate review tomorrow. Read more »

Griffin’s to ramp up exports under new ownership, CEO says

Article – BusinessDesk

Griffin’s to ramp up exports under new ownership, incoming CEO Taylor says

By Paul McBeth

July 23 (BusinessDesk) – Griffin’s Foods, the maker of Gingernuts and Eta brand snacks, plans to lift exports to more than 50 percent of sales within five years by leveraging new owner Universal Robina Corp’s links in southeast Asia, says incoming chief executive Alison Taylor. Read more »

Fonterra to lay off up to 110 staff at Waikato packing plant

Article – BusinessDesk

Fonterra to lay off up to 110 staff at Waikato packing facility

By Paul McBeth

July 23 (BusinessDesk) – Fonterra Cooperative Group, the world’s biggest dairy exporter, may lay off a third of its workers at the Canpac packing facility in Waikato, which it plans to focus on paediatric nutritional products. Read more »

UPDATE: A2 Milk shares rise from 15-mth low on China licence

Article – BusinessDesk

UPDATE: A2 Milk shares bounce from 15-month low on Chinese licence; Synlait still waiting

(Updates with share movement, broker comment) Read more »

Regulator’s draft view trims returns for network monopolies

Article – BusinessDesk

Regulator’s draft view on monopoly networks would be $33M a year win for consumers

By Pattrick Smellie

July 22 (BusinessDesk) – Electricity and gas consumers will be about $33 million a year better off if a draft decision by the Commerce Commission Read more »

A2 Milk secures Chinese licence, Synlait still waiting

Article – BusinessDesk

A2 Milk secures Chinese licence, Synlait still waiting

By Suze Metherell

July 22 (BusinessDesk) – A2 Milk Co, which markets milk with a protein variant said to have health benefits, has won Chinese regulatory approval to export its a2 Platinum infant formula and says its milk processor Synlait Milk continues to wait for registration. Read more »

Moa boosts first quarter sales, expects higher margins

Article – BusinessDesk

Moa boosts first quarter sales, expects higher margins to drive profits

By Tina Morrison

July 22 (BusinessDesk) – Moa Group, the unprofitable boutique beer maker, increased first quarter sales volumes 95 percent after moving to a more direct distribution structure in New Zealand, its largest market. Read more »

Ryman snags Tropicana in Auckland residential village push

Article – BusinessDesk

Ryman snags Tropicana in Auckland residential village push

By Suze Metherell

July 21 (BusinessDesk) – Ryman Healthcare, the country’s biggest listed retirement village builder and operator, has bought Tropicana, an 8.9 hectare block in Auckland’s south eastern area of Lynfield and Blockhouse Bay to expand its range of units in the city. Read more »

PEP sells Griffin’s to Universal Robina for $700M

Article – BusinessDesk

PEP sells Griffin’s to Universal Robina for $700M after capital return, refinancing in 2013

By Paul McBeth

July 21 (BusinessDesk) – Pacific Equity Partners has sold Griffin’s Foods to Universal Robina Corp for $700 million after the Australian private equity firm pulled out capital from its investment and saddled the New Zealand biscuit maker with debt last year. Read more »

CORRECT: Ex-financial adviser ordered to pay $2.56M

Article – BusinessDesk

CORRECT: Struck off financial adviser Robinson ordered to pay $2.56M to investor

(Corrects to show Mark Turnock facing charges under Financial Reporting Act in 13th graph in story that ran on July 18) Read more »

Postie Plus sold as going concern to Sth Africa’s Pepkor

Article – BusinessDesk

Postie Plus sold as going concern to Sth African investment group

By Pattrick Smellie

July 18 (BusinessDesk) – Ailing clothing retailer Postie Plus has been sold for an undisclosed sum as a going concern to Roan Ltd, a subsidiary of Pepkor, a South African-based investment group with clothing and footwear retail interests in Australia and Eastern Europe. Read more »

Caniwi Capital in $57mln purchase of Inghams properties

Article – BusinessDesk

Caniwi Capital in $57mln purchase of Inghams properties from US investor

By Pattrick Smellie

July 18 (BusinessDesk) – Wellington property investor Caniwi Capital has bought and leased back seven of nine New Zealand properties housing Inghams Read more »

Struck off financial adviser Robinson ordered to pay $2.56M

Article – BusinessDesk

Struck off financial adviser Robinson ordered to pay $2.56M to investor

By Paul McBeth

Jul. 18 (BusinessDesk) – Struck off financial adviser Andrew Robinson, who is separately accused of stealing investor funds, has been ordered to pay $2.56 million in damages plus costs to an investor over a series of negligent and misleading deals. Read more »

Cashed-up ERoad would look at Australian, US acquisitions

Article – BusinessDesk

Cashed-up ERoad would look at Australian, US acquisitions

By Suze Metherell

July 18 (BusinessDesk) – ERoad, which provides electronic fleet tracking and road user pays management services, would look at acquisitions in Australia and the US to boost its market share once it completes an initial public offer of up to $49.5 million next month. Read more »

High Court rules Fonterra, Danone arbitration to come first

Article – BusinessDesk

Singapore arbitration the place for Fonterra, Danone dispute, judge rules

By Paul McBeth

July 18 (BusinessDesk) – The High Court has agreed with Fonterra Cooperative Group that its dispute with French food group Danone should be dealt with in arbitration, but won’t grant a permanent stay on legal proceedings. Read more »

ERoad to raise $49.5 million in pursuit of US growth

Article – BusinessDesk

ERoad to raise $49.5 million in pursuit of US growth

By Suze Metherell

July 18 (BusinessDesk) – ERoad, whose products allow transport companies to manage and pay road user charges and keep track of their fleet, is looking to raise up to $49.5 million in an initial public offer next month as it chases growth in the US market. Read more »

Embrace falling home affordability, says NZIER

Article – BusinessDesk

Embrace falling home affordability, says NZIER

By Pattrick Smellie

July 18 (BusinessDesk) – Despair over the inability to afford a house is misplaced and should be embraced as an opportunity to invest in more wealth-creating activity, says the principal economist at the New Zealand Institute of Economic Research, Shamubeel Eaqub. Read more »

NZ consumer confidence rises for second month

Article – BusinessDesk

NZ consumer confidence rises for second month on jobs confidence, spending power

By Suze Metherell

July 17 (BusinessDesk) – New Zealand consumer confidence extended last month’s rebound from a six-month low, edging higher in July, supported by an improving labour market and the impact of a high kiwi dollar on import prices. Read more »

Vista shares priced at $2.35, raising $40 mln fresh capital

Article – BusinessDesk

Vista shares priced at $2.35, raising $40 million in new capital

By Suze Metherell

Jul. 17 (BusinessDesk) – Shares of Vista Group International will sell for $2.35, towards the lower end of the indicated price range, as the cinema software developer and film distribution company looks to raise up to $40 million of new capital in a drive for international growth. Read more »

Kotahi deal helps Tauranga win Maersk’s Southern Star slot

Article – BusinessDesk

Kotahi deal helps Port of Tauranga win Maersk’s Southern Star slot from Auckland

By Jonathan Underhill

July 17 (BusinessDesk) – Port of Tauranga will bolster annual container volumes by 8 percent to 10 percent after its deal with the Fonterra Cooperative Group and Silver Fern Farms-led logistics company Kotahi led to it winning a slot in Maersk’s Southern Star service from Ports of Auckland. Read more »

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