Archive for the 'Article' Category

2 Cheap Cars to challenge Japanese new car dealerships in NZ

Article – BusinessDesk

2 Cheap Cars to challenge Japanese new car dealerships in NZ with parallel imports

By Jonathan Underhill
July 1 (BusinessDesk) – 2 Cheap Cars, which has built a nationwide chain of auto yards selling used imports since starting four years ago, said it plans to enter the market for new cars by parallel importing of Toyota, Honda and Mazda vehicles. Read more »

Nuplex keeps buyback programme suspended until August

Article – BusinessDesk

Nuplex keeps buyback programme suspended until August earnings announcement

By Paul McBeth
July 1 (BusinessDesk) – Nuplex Industries, the specialty chemicals maker, won’t resume a share buyback programme until after its reports annual earnings in mid-August. Read more »

DNZ sells Albany office block for $15.2 mln, above valuation

Article – BusinessDesk

DNZ sells Albany office block for $15.2 mln, above valuation

By Paul McBeth
July 1 (BusinessDesk) – DNZ Property Fund, which is more than halfway through an asset sale programme, has sold an office block in Auckland’s Albany for $15.2 million, 3.1 percent above the property’s last valuation. Read more »

Z Energy argues purchase of Caltex won’t drive up pump price

Article – BusinessDesk

Z Energy argues purchase of Caltex won’t drive up pump prices or reduce competition

By Jonathan Underhill
July 1 (BusinessDesk) – Z Energy, the listed service station chain, said its planned $785 million purchase of rival Chevron New Zealand’s Caltex-branded network won’t drive up prices at the pump because the target doesn’t have retail price-setting power and the market will remain highly competitive. Read more »

TruScreen raises $1.6 mln in share purchase plan

Article – BusinessDesk

TruScreen raises $1.6 mln in oversubscribed share purchase plan

By Paul McBeth
July 1 (BusinessDesk) – TruScreen, the NZAX-listed cervical cancer test developer, raised $1.56 million in an oversubscribed share purchase plan to help fund its push into Asia. Read more »

Tiwai Smelter termination deadline pushed out

Article – BusinessDesk

Tiwai Smelter termination deadline pushed out for another month

By Paul McBeth
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 »

Tower extends CEO Hancock’s position for 3 more months

Article – BusinessDesk

Tower extends CEO Hancock’s position for 3 more months; seeking new chief

By Suze Metherell

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

Milford Asset has funds invested in beleaguered Australian law firm Slater & Gordon

By Fiona Rotherham
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 of historical cash flow at its UK business. Read more »

NZ building consents static in May

Article – BusinessDesk

NZ building consents static in May as Auckland intentions decline

By Suze Metherell
June 30 (BusinessDesk) – New Zealand building consents were virtually static in May as dwindling demand in Auckland offset increased construction intentions in other parts of the country. Read more »

Kathmandu shares soar on Briscoe takeover prospect

Article – BusinessDesk

Kathmandu shares soar on prospect of Rod Duke transferring some of his Briscoe ‘magic’

By Jonathan Underhill
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 outdoor equipment and clothing chain. Read more »

TPP negotiations set to accelerate, Groser says

Article – BusinessDesk

TPP negotiations set to accelerate after Obama gains fast-track powers, Groser says

By Paul McBeth
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

Briscoe builds 19.9% stake in Kathmandu, plans full cash and scrip takeover

By Jonathan Underhill
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

Wellington Airport returns through 2019 within acceptable range, regulator confirms

By Jonathan Underhill
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 »

NZ Dollar Outlook: Kiwi may fall on Greek uncertainty

Article – BusinessDesk

NZ Dollar Outlook: Kiwi may decline this week amid Greek uncertainty

By Tina Morrison

June 29 (BusinessDesk) – The New Zealand dollar may decline this week, sinking as low as 66 US cents, as investors shed riskier assets in favour of safe havens amid uncertainty about Greece’s ability to repay debts. Read more »

Genesis to retire stored coal unit

Article – BusinessDesk

Genesis to retire stored coal unit

By Paul McBeth
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 to meet customer demand. Read more »

NZ employment confidence dwindles in 2Q as wage outlook dims

Article – BusinessDesk

NZ employment confidence dwindles in 2Q as wage outlook deteriorates

By Paul McBeth

June 29 (BusinessDesk) – New Zealanders grew more downcast about the state of the labour market in the second quarter, with a softer outlook for wage growth weighing on confidence. 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

By Jonathan Underhill

June 29 (BusinessDesk) – Pushpay Holdings has confirmed it is eligible for a $960,000 research and development grant from Callaghan Innovation that will help mobile payments app developer scale up the platform that allows US church congregations to easily make donations. Read more »

Ngati Whatua files court papers over Crown land in Auckland

Article – BusinessDesk

Ngati Whatua files court papers over Crown snub on Auckland land sales

By Paul McBeth

June 26 (BusinessDesk) – Ngati Whatua, a member of the Tamaki Makaurau Collective, has filed a statement of claim in the High Court at Auckland over the government’s decision not to offer land earmarked for housing development to the iwi first. Read more »

NZ dollar heads for 0.3% weekly decline

Article – BusinessDesk

NZ dollar heads for 0.3% weekly decline as financial markets hang on Greece debt talks

By Paul McBeth
June 26 (BusinessDesk) – The New Zealand dollar is heading for a 0.3 percent weekly decline against the greenback as financial markets hang on the outcome of Greece’s debt negotiations before its 1.6 billion euro loan comes due at the end of the month. Read more »

UPDATE: Freightways, Airwork launch airfreight joint venture

Article – BusinessDesk

UPDATE: Freightways, Airwork launch airfreight joint venture for NZ Post’s courier business

(Adds detail in 8th graph, Read more »

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