Article – BusinessDesk
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 »
Article – BusinessDesk
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 »
Article – BusinessDesk
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 »
Article – BusinessDesk
(Updates with share movement, broker comment) Read more »
Article – BusinessDesk
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 »
Article – BusinessDesk
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 »
Article – BusinessDesk
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 »
Article – BusinessDesk
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 »
Article – BusinessDesk
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 »
Article – BusinessDesk
(Corrects to show Mark Turnock facing charges under Financial Reporting Act in 13th graph in story that ran on July 18) Read more »
Article – BusinessDesk
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 »
Article – BusinessDesk
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 »
Article – BusinessDesk
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 »
Article – BusinessDesk
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 »
Article – BusinessDesk
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 »
Article – BusinessDesk
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 »
Article – BusinessDesk
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 »
Article – BusinessDesk
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 »
Article – BusinessDesk
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 »
Article – BusinessDesk
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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