Archive for the 'Article' Category

Summerset buys land in Parnell for new premium site

Article – BusinessDesk

Summerset buys land in Parnell for new premium site

July 28 (BusinessDesk) – Summerset Group, the country’s third-biggest listed retirement village operator, has bought a 2.3 hectare site in Auckland’s Parnell which it plans to develop as a premium site. Read more »

NZ dollar gains vs. Australian dollar on Chinese stock rout

Article – BusinessDesk

NZ dollar gains vs. Australian dollar as Chinese stocks plunge

By Paul McBeth

July 28 (BusinessDesk) – The New Zealand dollar rose to a six-and-a-half week high against its trans-Tasman counterpart after a slump in Chinese equities markets weighed more heavily on the currency of Australia, which counts China as its biggest export market. Read more »

Key blames Labour for barrier to foreign buyer ban

Article – BusinessDesk

Key blames Labour for barrier to foreign buyer ban

By Pattrick Smellie

July 27 (BusinessDesk) – Prime Minister John Key has blamed the way the Labour-led government of the 2000s structured the free trade agreement with China for making it impossible for a future government to impose a ban on land sales to foreign investors, even though he doesn’t support such a ban. Read more »

UPDATE: FMA issues first stop to Auckland property investor

Article – BusinessDesk

UPDATE: FMA issues first stop order against company taking deposits for Auckland property investment

(Adds detail throughout) Read more »

G3 reports first quarter metrics in line with targets

Article – BusinessDesk

G3 reports first quarter metrics in line with targets

By Suze Metherell
July 27 (BusinessDesk) – G3 Group, the mail operations and document management company which is listed on the new small-cap NXT market, says first-quarter trading was in line with targets. Read more »

Heineken extracts fatter annual dividend from DB than profit

Article – BusinessDesk

Heineken extracts fatter annual dividend from DB than profit in 2014

By Suze Metherell

July 27 (BusinessDesk) – For the second year in a row, global beer group Heineken NV has pulled out a bigger dividend than its New Zealand subsidiary, DB Breweries, earned. Read more »

Yashili, Danone collaboration to cover new Pokeno milk plant

Article – BusinessDesk

Yashili, Danone collaboration to include new Pokeno milk plant

By Fiona Rotherham

July 27 (BusinessDesk) – Chinese-owned Yashili International Holdings will collaborate with French dairy giant Danone on its new $212 million plant in Auckland, Read more »

NZ dollar heads for 1.1% weekly gain

Article – BusinessDesk

NZ dollar heads for 1.1% weekly gain as RBNZ takes softer approach to rate cuts

By Paul McBeth
July 24 (BusinessDesk) – The New Zealand dollar is heading for a 1.1 percent gain against the greenback this week as the Reserve Bank’s approach to lower interest rates disappointed some investors wanting more aggression. Read more »

Briscoe makes five-for-9 cash and scrip offer for Kathmandu

Article – BusinessDesk

Briscoe unveils five-for-9 cash and scrip offer for Kathmandu

By Suze Metherell

July 24 (BusinessDesk) – Briscoe Group, the retailer controlled by managing director Rod Duke, is offering Kathmandu Holdings shareholders a mixture of cash and scrip which equates to a 5 cent premium on the outdoor equipment retailer’s last share price. Read more »

Serco relieved of control at Mt Eden prison

Article – BusinessDesk

Private prison operator Serco relieved of control at Mt Eden prison

By Pattrick Smellie
July 24 (BusinessDesk) – Multi-national private prison operator Serco has been forced to hand back control of Auckland’s Mt Eden remand prison to the Department of Corrections, Read more »

Financial Services Council launches investigation into churn

Article – BusinessDesk

Financial Services Council launches its own investigation into churn

By Suze Metherell
July 24 (BusinessDesk) – The Financial Services Council, the industry-led lobby group, has commissioned a report into sales incentives in the personal insurance industry following concerns about unnecessary policy switching. Read more »

NZ dollar gains after RBNZ trims OCR by a quarter-point

Article – BusinessDesk

NZ dollar gains after RBNZ trims OCR by a quarter-point

By Paul McBeth

July 23 (BusinessDesk) – The New Zealand dollar gained after the Reserve Bank cut the official cash rate by a quarter-point and called for a weaker currency, while dropping a reference to criteria justifying intervention. Read more »

No guarantee Serco’s Mt Eden contract will be renewed

Article – BusinessDesk

No guarantee Serco’s Mt Eden contract will be renewed, Minister says

By Paul McBeth

July 23 (BusinessDesk) – Corrections Minister Sam Lotu-Iiga says there’s no guarantee Serco New Zealand will have the second half of its contract renewed to manage Auckland’s remand prison, Read more »

Community-owned electricity networks face technology risk

Article – BusinessDesk

Community-owned electricity networks at major risk from new technology, says English

By Pattrick Smellie and Suze Metherell
July 23 (BusinessDesk) – Communities that believe their locally owned electricity networks will remain as valuable as Read more »

Dair deregulation has insulated the economy, says English

Article – BusinessDesk

Dairy deregulation has insulated the economy from price shocks, says English

By Suze Metherell

July 23 (BusinessDesk) – Light regulation in the New Zealand dairy industry has insulated the wider economy from the sharp decline in prices for the country’s largest export commodity, according to minister of finance Bill English. Read more »

Intueri to buy NZ Institute of Sport for $19.3M

Article – BusinessDesk

Intueri to buy NZ Institute of Sport for $19.3M

By Tina Morrison

July 23 (BusinessDesk) – Intueri Education Group, New Zealand’s largest private training college, has agreed to buy the New Zealand Institute of Sport for $19.3 million to give it significant scale in the sports and complementary health sectors. Read more »

NZ dollar jumps after RBNZ trims OCR

Article – BusinessDesk

NZ dollar jumps after RBNZ trims OCR, says kiwi needs to be lower

By Paul McBeth

July 23 (BusinessDesk) – The New Zealand dollar jumped more than half a US cent after Reserve Bank governor Graeme Wheeler cut the official cash rate by a quarter-point and said the currency needs to be lower, while dropping a reference to criteria that justified intervention. Read more »

RBNZ’s Wheeler cuts OCR to 3% and flags more to come

Article – BusinessDesk

RBNZ’s Wheeler cuts OCR to 3% and flags more to come, says kiwi needs to keep falling

By Paul McBeth
July 23 (BusinessDesk) – Reserve Bank governor Graeme Wheeler cut the official cash rate a quarter-point to 3 percent and flagged more reductions are likely, while saying a lower kiwi dollar is needed to prop up the nation’s export sector. Read more »

Prison ‘fight club’ furore comes at crucial time for Serco

Article – BusinessDesk

Prison ‘fight club’ furore comes as Serco NZ enters renegotiation period

By Paul McBeth

July 22 (BusinessDesk) – Serco New Zealand, Read more »

NZ banks in good position to withstand weaker dairy sector

Article – BusinessDesk

NZ banks in good position to withstand weaker dairy sector

By Tina Morrison

July 22 (BusinessDesk) – New Zealand’s banks are in a good position and should be able to withstand pressure on the agricultural sector from weaker dairy prices, according to ratings agency Moody’s Investors Service. Read more »

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