Archive for the 'Article' Category

UPDATE: Scales shares edge lower on NZX debut

Article – BusinessDesk

UPDATE: Scales shares edge lower on NZX debut raising $30M of new capital to repay debt

(Updates with price movements, company and investor comments) Read more »

ASX-listed InvoCare unit cleared to buy Chch crematoriums

Article – BusinessDesk

Regulator clears ASX-listed InvoCare unit to buy Christchurch crematorium

By Suze Metherell

July 25 (BusinessDesk) – The Commerce Commission has cleared the way for ASX-listed InvoCare’s Bledisloe New Zealand to buy the 70-year old Cremation Society of Canterbury adding two crematoriums to its New Zealand network. Read more »

Auckland Airport cuts fine deal in US$250M bond issue

Article – BusinessDesk

Auckland Airport cuts fine deal in US$250M bond issue

By Paul McBeth

Jul. 25 (BusinessDesk) – Auckland International Airport has sold US$250 million of bonds in the final tranche of a financing package to pay for its capital return to shareholders earlier this year at what it says is the lowest borrowing margin for a facility of its kind for a decade. Read more »

NZ dollar slides to 6-week low on intervention talk

Article – BusinessDesk

NZ dollar slides to 6-week low as RBNZ’s Wheeler invokes intervention criteria

By Paul McBeth

July 24 (BusinessDesk) – The New Zealand dollar dropped to a six-week low after Reserve Bank governor Graeme Wheeler explicitly invoked one of the criteria to intervene in currency markets in calling the kiwi’s strength “unjustified.” Read more »

Moa makes $500k placement, offers $5.25 mln in rights

Article – BusinessDesk

Moa completes $500k placement, seeks up to $5.25 mln in discounted rights issue

By Paul McBeth

Jul. 24 (BusinessDesk) – Moa Group, the unprofitable boutique beer maker, raised $500,000 from five institutional investors and plans to raise up to $5.25 million in a discounted rights issue to existing shareholders. Read more »

National signals short election campaign with Aug 23 launch

Article – BusinessDesk

National signals short election campaign with Aug 23 launch

July 24 (BusinessDesk) – The governing National Party will campaign for re-election for just four weeks before polling day, Sept 20. Read more »

Sealord appoints ex-McCain Food’s exec Yung as new CEO

Article – BusinessDesk

Sealord appoints ex-McCain Food’s exec Yung as new CEO

By Suze Metherell

July 24 (BusinessDesk) – Sealord Group has appointed former McCain Foods boss Steve Yung as its new chief executive, replacing Graham Stuart who is leaving after seven years in charge of New Zealand’s second-largest fishing company. Read more »

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 »

« Previous PageNext Page »