Archive for the 'Article' Category

NZ dollar heads for 0.8% weekly fall before RBNZ rate review

Article – BusinessDesk

NZ dollar heads for 0.8% weekly fall as RBNZ rate review looms

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 »

Air NZ says claims withdrawn as other airlines settle in Oz

Article – BusinessDesk

Air New Zealand says claims withdrawn as other airlines settle over cargo cartel, seeks costs

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says claims against it as part of a class action lawsuit in Australia over alleged price fixing on freight have been withdrawn and the airline won’t be contributing to an A$38 million settlement by other airlines.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 »

Depreciation, buy Kiwi-made in Labour manufacturing policy

Article – BusinessDesk

Accelerated depreciation, buy Kiwi-made core of Labour manufacturing policy

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 »

NZ dollar falls to nine-day low after CPI misses estimates

Article – BusinessDesk

NZ dollar falls to nine-day low after slower than expected inflation

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 »

NZ govt, Christchurch council target 700 new housing units

Article – BusinessDesk

NZ govt, Christchurch council target 700 new units, more affordable housing supply in accord

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 »

Chinese company to build $200M hotel on Auckland waterfront

Article – BusinessDesk

Company linked to one of China’s richest women to spend $200 mln on Auckland hotel

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 »

NZ consumer prices rise 0.3% in 1Q, missing estimates

Article – BusinessDesk

NZ consumer prices rise 0.3% in first quarter on tobacco tax hike, more expensive housing

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 »

BlueScope Steel gets antitrust clearance to buy PacSteel

Article – BusinessDesk

BlueScope Steel gets antitrust clearance to buy Fletcher’s Pacific Steel

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 »

Turners & Growers to buy Apollo Apples for up to $44.1 mln

Article – BusinessDesk

Turners & Growers to buy Apollo Apples for up to $44.1 mln

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 »

NZ dollar falls ahead of Yellen speech, local inflation data

Article – BusinessDesk

NZ dollar falls ahead of Yellen speech, local inflation looms

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 »

Telecom trims and extends banking facility

Article – BusinessDesk

Telecom trims and extends banking facility

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 »

Budget to show rise in full-time income to 2018: English

Article – BusinessDesk

Budget to show $10,500 rise in average full-time income over six years to 2018: English

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 »

Nufarm to close Auckland plant, shift local production to Oz

Article – BusinessDesk

Nufarm to close Auckland plant, shift local production to Australia, taking A$11M charge

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 »

Hellaby adds $20M in annual sales buying NZ Trucks, Dasko

Article – BusinessDesk

Hellaby adds $20 million in annual sales with NZ Trucks, Dasko acquisitions

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 »

Goodman Property builds three new developments for $44.4 mln

Article – BusinessDesk

Goodman Property builds three new developments for $44.4 million

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 »

DNZ Property Fund axes five jobs to cut costs

Article – BusinessDesk

DNZ Property Fund axes five jobs to cut costs

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 »

NZ dollar drops as sliding equity markets sap risk appetite

Article – BusinessDesk

NZ dollar drops as sliding equity markets sap demand for risk-sensitive assets

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 »

US record labels follow movie studios, Dotcom’s Megaupload

Article – BusinessDesk

US record labels follow movie studios in suing Dotcom’s Megaupload

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 »

Renaissance capital return unlikely before June

Article – BusinessDesk

Renaissance capital return unlikely before June

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 »

March NZ house sales drop 10% as loan curbs bite

Article – BusinessDesk

House sales drop 10 percent in March, loan curbs weigh on cheaper housing

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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