Archive for the 'Article' Category

Nufarm NZ sales slip on weak dairy prices, drought

Article – BusinessDesk

Nufarm NZ sales slip on weak dairy prices, drought conditions

By Suze Metherell

March 25 (BusinessDesk) – Nufarm, the agricultural chemicals manufacturer, reported a 14 percent drop in its New Zealand sales as the South Island drought and the decline in global dairy prices weighed on demand for pesticides and herbicides. Read more »

ComCom clears Wilson’s acquisition of rival’s parking assets

Article – BusinessDesk

ComCom clears Wilson’s acquisition of rival’s parking assets

By Suze Metherell

March 24 (BusinessDesk) – The Commerce Commission has found Wilson Parking New Zealand’s 2013 acquisition of a rival’s parking assets hasn’t substantially crimped competition and deemed that public transport will keep a lid on any price hikes. Read more »

US BlackRock takes 5% stake in Fletcher Building

Article – BusinessDesk

US BlackRock takes 5% stake in Fletcher Building

By Suze Metherell

March 24 (BusinessDesk) – US fund manager BlackRock, which manages more than US$4.7 trillion in assets worldwide, has built up a 5 percent stake in Fletcher Building. Read more »

MRP will close Southdown station at the end of 2015

Article – BusinessDesk

MightyRiverPower will close Southdown station at the end of 2015

By Tina Morrison

March 24 (BusinessDesk) – MightyRiverPower, whose first half earnings slumped as it wrote down the value of assets and exited its international geothermal interests, said its gas-fired Southdown power station will close at the end of the year in response to growth in renewable generation. Read more »

Auckland to Beijing direct as Air NZ, China Air tie up

Article – BusinessDesk

Auckland to Beijing direct connection as Air NZ, China Air tie up

March 23 (BusinessDesk) – Air New Zealand and China Air have agreed a new alliance that will deliver daily direct flights between Auckland and the Chinese capital, Beijing, for the first time. Read more »

UPDATE: 2degrees buys Snap to enter landline market

Article – BusinessDesk

UPDATE: 2degrees buys Snap to enter landline market after snaring share of mobile

(Adds executive comment from briefing) Read more »

Auckland Airport international passenger numbers rise 5.4%

Article – BusinessDesk

Auckland Airport international passenger numbers rise 5.4% in February, on jump in Chinese

By Jonathan Underhill
March 23 (BusinessDesk) – Auckland International Airport said international passenger numbers through New Zealand’s busiest gateway rose 5.4 percent last month, as the later timing of Chinese New Year led to a surge in travellers from China. Read more »

2degrees acquires Snap ISP for complete business offering

Article – BusinessDesk

2degrees acquires Snap ISP for complete business offering

By Pattrick Smellie

March 23 (BusinessDesk) – 2Degrees, New Zealand’s third-largest mobile telecommunications provider, is to acquire Christchurch-based internet service provider, Snap, to allow it to compete more effectively for business customers by offering a full range of mobile, broadband and fixed-line voice telephony using the internet. Read more »

RESEND: 63% of Warehouse permanent staff now on career wage

Article – BusinessDesk

RESEND: Warehouse says 63% of permanent staff now on ‘career retailer wage’

(Fixes fourth paragraph to show Warehouse is biggest listed retailer) Read more »

Warehouse says 63% of permanent staff now on ‘career wage’

Article – BusinessDesk

Warehouse says 63% of permanent staff now on ‘career retailer wage’ that would be template for other industries

By Fiona Rotherham Read more »

UPDATE: Pumpkin Patch seeks proposals after approaches

Article – BusinessDesk

UPDATE: Pumpkin Patch seeks proposals after approaches to buy, refinance company; shares gain

(Adds broker comment in fifth paragraph, updates shares) Read more »

Pumpkin Patch seeks proposals after approaches to buy firm

Article – BusinessDesk

Pumpkin Patch seeks proposals after approaches to buy, refinance company; shares gain

By Tina Morrison

March 20 (BusinessDesk) – Pumpkin Patch, the children’s clothing retailer whose shares have lost two-thirds of their value the past year, is seeking formal proposals after receiving approaches to buy or refinance the company. The shares rose 14 percent. Read more »

Start-up Petromac develops device to guides oil well probes

Article – BusinessDesk

Petromac develops ‘bent stick’ device that guides wireline loggers in oil wells

By Fiona Rotherham

March 19 (BusinessDesk) – Petromac, a company started last year by Auckland-based petrophysicist Stephen McCormick, has developed a disruptive technology that allows oil and gas companies to get better data from wireline logging of oil wells. Read more »

Tourism Holdings acquires 49% stake in UK’s Just Go

Article – BusinessDesk

Tourism Holdings acquires 49% stake in UK’s Just Go motorhome business

By Jonathan Underhill

March 19 (BusinessDesk) – Tourism Holdings, the largest campervan rental business in Australia and New Zealand, said it acquired 49 percent of UK-based Just Go, a motorhome rentals and sales business. Read more »

NZ, Vietnam aim to double two-way trade to $2.2B by 2020

Article – BusinessDesk

NZ, Vietnam aim to double two-way trade to $2.2B by 2020

By Tina Morrison

March 19 (BusinessDesk) – New Zealand and Vietnam aim to double two-way goods and service trade to about $2.2 billion by 2020. Read more »

IMF says LVR limits work in boom times, not busts

Article – BusinessDesk

International Monetary Fund says LVR limits work in boom times, not busts

By Fiona Rotherham

March 19 (BusinessDesk) – Restrictions on low-deposit home loans appear to have more effect in times of boom rather than bust, according to an International Monetary Fund working paper. Read more »

Salt Funds wins mandate for AMP’s $690M active NZ equities

Article – BusinessDesk

Salt Funds wins mandate for AMP Capital’s $690M active NZ equity funds

By Jonathan Underhill
March 19 (BusinessDesk) – Salt Funds Management, the boutique investment manager set up by its principals about two years ago, has won the mandate to manage AMP Capital’s active New Zealand equity funds, adding about $690 million to its funds under management based on where they stood at the end of February. Read more »

Mainfreight forecasts annual profit hike

Article – BusinessDesk

Mainfreight forecasts annual profit hike, pays tribute to Rowlands

By Pam Graham
March 19 (BusinessDesk) – Mainfreight expects annual profit to rise as much as 7.1 percent on revenues in excess of $2 billion as it pays tribute to one of the business leaders who helped it evolve from a company with one truck. Read more »

Wynyard proposes dual listing on Australian bourse

Article – BusinessDesk

Wynyard proposes dual listing on Australian bourse

By Suze Metherell
March 19 (BusinessDesk) – Wynyard Group, the crime-fighting software and services developer, plans a dual listing on the Australian stock exchange. Read more »

UPDATE: Fliway IPO priced at $1.20/share

Article – BusinessDesk

UPDATE: Fliway IPO priced at $1.20/share, raising $34 million, people say

(Adds details throughout)

By Suze Metherell Read more »

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