Archive for the 'Article' Category

Watercare inks $2.4b 10-year contract with Fulton Hogan

Article – BusinessDesk

By Jenny Ruth

Sept. 27 (BusinessDesk) – Auckland Council-owned Watercare has signed a $2.4 billion contract with Fulton Hogan and Fletcher Building’s construction arm to provide water and wastewater infrastructure in Auckland for the next 10 years. Read more »

Mercury NZ forced to use satellite pix for gas market clues

Article – BusinessDesk

By Pattrick Smellie

Sept. 27 (BusinessDesk) – An “unacceptable disclosure regime from gas suppliers” forced electricity generator and retailer Mercury NZ to use satellite photographs to work out what might be happening in the local natural gas market, according to chief executive Fraser Whineray. Read more »

Ports of Auckland annual profit drops 30%

Article – BusinessDesk

Ports of Auckland annual profit drops 30% as it invests in the future

By Jenny Ruth

Sept. 27 (BusinessDesk) – Ports of Auckland’s annual net profit fell 30 percent and it axed its final dividend but its chief executive says it was “a good result in the circumstances.” Read more »

Dollar rises after RBNZ says unconventional policy unlikely

Article – BusinessDesk

NZ dollar rises after RBNZ says unconventional policy unlikely
By Jenny Ruth

Sept. 26 (BusinessDesk) – The New Zealand dollar rose after Reserve Bank governor Adrian Orr said the central bank is unlikely to use unconventional monetary policy measures like those used by the Federal Reserve and European Central Bank. Read more »

RBNZ gauging extent of banks ‘front-loading’

Article – BusinessDesk

RBNZ gauging extent of banks ‘front-loading’ on capital proposals

By Paul McBeth

Sept. 26 (BusinessDesk) – Reserve Bank governor Adrian Orr says rural borrowers are facing higher lending costs despite interest rate cuts over the past year and that the regulator is gauging whether banks are bolstering their balance sheets in advance of tougher capital requirements. Read more »

Fonterra confident it got the strategy right

Article – BusinessDesk

By Rebecca Howard

Sept. 26 (BusinessDesk) – Fonterra Cooperative Group reported its second loss in a row but is confident it now has its strategy right. Read more »

Shared infrastructure may be key to rural 5G roll-out

Article – BusinessDesk

By Paul McBeth

Sept. 26 (BusinessDesk) – The Commerce Commission says shared infrastructure may be vital in getting 5G mobile technology to remote regions, even if it poses potential issues. Read more »

Fuel sector JVs offer little upside for new players, CC told

Article – BusinessDesk

By Gavin Evans

Sept. 26 (BusinessDesk) – Owners of new fuel storage may have little to gain from joining the shipping and product-sharing arrangements of the major players, the Commerce Commission has been told. Read more »

FIRST CUT: Fonterra posts loss of $557m

Article – BusinessDesk

FIRST CUT: Fonterra posts loss of $557m as it writes off $826m from global businesses

By Paul McBeth

Sept. 25 (BusinessDesk) – Fonterra Cooperative Group reported its second loss in a row as it racked up $826 million of charges writing down assets around the world and meeting other one-off costs. Read more »

Air NZ to keep regional fares low as Jetstar ponders exit

Article – BusinessDesk

Air NZ to keep regional fares low as Jetstar ponders exit

By Paul McBeth

Sept. 25 (BusinessDesk) – Air New Zealand says it won’t hike fares on the routes that Jetstar looks set to exit, consistent with pricing changes it made earlier this year to stimulate travel in the regions. Read more »

Jetstar pulling out of regional routes

Article – BusinessDesk

Jetstar pulling out of Nelson, Napier, New Plymouth, Palmerston North routes
By Paul McBeth

Sept. 25 (BusinessDesk) – Jetstar plans to stop flying unprofitable regional routes at the end of November, blaming tepid demand and high jet fuel prices which it says look set to stay for some time. Read more »

Moa Group eyes wider beer market

Article – BusinessDesk

By Victoria Young

Sept. 25 (BusinessDesk) – Moa Group is banking on beers sold in bars and eateries to help it move into the black, and will now look at other categories beyond craft products. Read more »

Tower to raise $47.2m at a discount to buy Youi

Article – BusinessDesk

Tower to raise $47.2m at a discount to buy Youi, bolster balance sheet again
By Paul McBeth

Sept. 24 (BusinessDesk) – Tower will raise $47.2 million at a discount, of which less than half will go towards buying controversial minnow Youi NZ and the rest will bolster the insurer’s balance sheet to meet new licencing conditions. Read more »

Vector urges regulatory change due to low-interest-rates

Article – BusinessDesk

Vector urges regulatory change in low-interest-rate environment

By Victoria Young

Sept. 23 (BusinessDesk) – Directors at lines company Vector are pleading for regulatory changes, claiming the low-interest-rate environment is presenting new challenges. Read more »

Stanley-Tallwood liquidator deal over KiwiBuild development

Article – BusinessDesk

Stanley-Tallwood liquidator cuts deal over KiwiBuild development

By Victoria Young

Sept. 23 (BusinessDesk) – The liquidator for Stanley Group and Tallwood Holdings has cut a deal with the developer of 23 KiwiBuild homes to get subbies paid out immediately. Read more »

Time for congestion pricing has come – NZIER

Article – BusinessDesk

By Gavin Evans

Sept. 20 (BusinessDesk) – Options being considered to fund transport development in Auckland and ease road congestion need to be part of a consistent framework that can be applied in other parts of the country, the New Zealand Institute of Economic Research says. Read more »

Colliers defends KiwiBuild as ‘far from a colossal failure’

Article – BusinessDesk

By Jenny Ruth

Sept. 20 (BusinessDesk) – KiwiBuild is “far from the colossal failure its political opponents have portrayed it to be,” says prominent real estate agent Colliers. Read more »

Fletcher seeks urgent talks on Ihumatao stalemate

Article – BusinessDesk

By Pattrick Smellie

Sept. 19 (BusinessDesk) – Fletcher Building is “disappointed” no resolution emerged from talks brokered by the Kingitanga on the future of the company’s delayed housing development at Ihumatao. Read more »

Auckland jet fuel arrangements a potential barrier

Article – BusinessDesk

Auckland jet fuel arrangements a potential barrier to new entrants
By Gavin Evans

Sept. 18 (BusinessDesk) – The three major oil companies’ control of fuelling at Auckland International Airport is a potential barrier to competition and should be reviewed as part of the airport’s redevelopment, a government inquiry says. Read more »

UPDATE: Goodman opts for underwritten $150m placement

Article – BusinessDesk

UPDATE: Goodman opts for underwritten $150m placement to raise capital

(Updates with CEO comments on placement from eighth paragraph.) Read more »

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