Archive for the 'Article' Category

Councils to borrow $196M from govt housing fund for water

Article – BusinessDesk

Tauranga, Waikato councils to borrow $196M from govt housing fund for water
By Paul McBeth

July 11 (BusinessDesk) – Tauranga City and Waikato District councils will tap the central government’s housing infrastructure fund to help upgrade local water infrastructure, which Housing Minister Phil Twyford says will speed up residential property developments in those areas. Read more »

Blue Sky Meats may adopt small-is-beautiful branding

Article – BusinessDesk

Blue Sky Meats may adopt small-is-beautiful branding as point of difference to big-budgeted rivals, CEO says

By Jonathan Underhill Read more »

ERoad sales growth slows in first quarter

Article – BusinessDesk

ERoad sales growth slows in first quarter as buyers delay purchases

By Paul McBeth

July 10 (BusinessDesk) – ERoad registered slower first-quarter growth than anticipated as prospective buyers put off their purchasing decisions across Australasia and in North America, after a period of rapid expansion in the US. Read more »

Gentrack raises $52.4 million in discounted share offer

Article – BusinessDesk

Gentrack raises $52.4 million in discounted share offer to institutional investors

By Margreet Dietz

July 9 (BusinessDesk) – Gentrack Group said it raised about $52.4 million in a discounted stock offer to institutional investors as part of a two-stage share sale aimed at raising funds to repay debt used for a recent flurry of acquisitions. Read more »

Commission wants to retain power to regulate mobile roaming

Article – BusinessDesk

Commerce Commission wants to retain power to regulate mobile roaming

By Tina Morrison

July 9 (BusinessDesk) – The Commerce Commission intends to retain the power to regulate national mobile roaming, which helps operators expand coverage beyond their own physical networks. Read more »

Precinct Properties earns upgrade on ANZ Centre deal

Article – BusinessDesk

Precinct Properties earns Morningstar upgrade on ANZ Centre deal

By Margreet Dietz

July 6 (BusinessDesk) – Shares of Precinct Properties New Zealand earned an upgrade from Morningstar following the commercial property investor’s deal, announced last week, to sell 50 percent of the ANZ Centre in Auckland’s central business district for $181 million. Read more »

Air NZ slams ‘excessive pricing’ by NZ airports

Article – BusinessDesk

Air NZ slams ‘excessive pricing’ by NZ airports, says law changes could cut plane ticket costs

By Sophie Boot

July 5 (BusinessDesk) – Air New Zealand has slammed the “ravages of airport pricing behaviour” in New Zealand in support of changes to the Commerce Act it says would help curb airport owners’ charging and cut air travel costs for passengers. Read more »

CBL Corp administrators announce a deal to sell UK PFP

Article – BusinessDesk

CBL Corp administrators announce a deal to sell UK PFP business to US private equity firms

By Rebecca Howard

July 5 (BusinessDesk) – The administrators of CBL Corp said an agreement has been reached to sell its UK-based Professional Fee Protection business to US private equity firms Highbridge Principal Strategies and Madison Dearborn Partners. Read more »

NZ dollar shrugs off weak dairy prices

Article – BusinessDesk

NZ dollar shrugs off weak dairy prices, rises as investors ease up on bets its going to keep falling

By Rebecca Howard

July 4 (BusinessDesk) – The New Zealand dollar shrugged off a weak dairy auction and pushed higher against the greenback as investors pared back slightly on their expectations that the kiwi might continue to fall. Read more »

S&P’s new rating methodology for public sector funders

Article – BusinessDesk

S&P’s new rating methodology for public sector funders unlikely to result in cut to LGFA, investors say

By Jonathan Underhill Read more »

Auckland median house price slips to $810,000 in June

Article – BusinessDesk

Auckland median house price slips to $810,000 in June, Barfoot says

By Tina Morrison

July 4 (BusinessDesk) – Auckland’s residential property market slowed in June, with fewer new listings and a slip in the median price, according to the city’s largest realtor. Read more »

$180,000 cap on income and residence requirements

Article – BusinessDesk

Kiwibuild buyer criteria include $180,000 cap on income and residence requirements

By Sophie Boot

July 4 (BusinessDesk) – KiwiBuild home buyers will be required to live in their properties for at least three years and have an income cap of $180,000, according to criteria released today. Read more »

Gentrack to sell $90M of shares in discounted offer

Article – BusinessDesk

Gentrack to sell $90M of shares in discounted offer to repay debt after acquisition spree

By Paul McBeth

July 4 (BusinessDesk) – Gentrack Group will sell shares at a 12 percent discount to raise $90 million to repay bank debt used to fund a recent spate of acquisitions, leaving the door open for more merger and acquistion activity. Read more »

NZ house values fall in ‘buyer’s market’

Article – BusinessDesk

NZ house values fall in ‘buyer’s market’, Auckland drops less than national average, QV says

By Jonathan Underhill

July 4 (BusinessDesk) – New Zealand house values fell in June in a slower market that Quotable Value says reflects restrictions placed on buyers by the central bank and government. Read more »

NZAX-listed TruScreen says 1st-qtr sales topped all of 2018

Article – BusinessDesk

NZAX-listed TruScreen says 1st-qtr sales topped all of 2018’s $800,000; shares jump

By Jonathan Underhill

July 3 (BusinessDesk) – TruScreen, the NZAX-listed maker of a cervical cancer test, said sales in the three months ending June 30 have already exceeded the $800,000 it took in for the previous full year. Its shares jumped Read more »

Hg to buy Orion Health’s Rhapsody for $205M

Article – BusinessDesk

Hg to buy Orion Health’s Rhapsody for $205M, take quarter stake in Population Health unit

By Jonathan Underhill

July 3 (BusinessDesk) – Orion Health Group said UK-based private equity firm Hg will acquire its Rhapsody business for $205 million and take a quarter stake in its Population Health unit for $20 million, leaving the New Zealand company in 100 percent control of just its hospitals division. Read more »

Spark NZ appoints Anastasiou and Bain

Article – BusinessDesk

Spark NZ appoints Anastasiou, newly-hired Bain to leadership squad

By Margreet Dietz

July 2 (BusinessDesk) – Spark New Zealand, the country’s biggest telecommunications company, said it appointed Melissa Anastasiou to its so-called leadership squad, effective immediately, while it also hired Matt Bain, who starts as marketing director, a newly-created role, in November. Read more »

Smiths City takes $1.5M hit from Employment Court ruling

Article – BusinessDesk

Smiths City takes $1.5M hit from Employment Court ruling; trading loss mounts

By Paul McBeth

June 29 (BusinessDesk) – Smiths City Group took a $1.5 million charge on what it expects to reimburse underpaid staff following this year’s Employment Court ruling that employees should’ve been paid for attending sales meetings, adding to a bigger trading loss than forecast and prompting it to suspend dividends. Read more »

NZ Super Fund takes 27% stake in fruit & veg firm NZ Gourmet

Article – BusinessDesk

NZ Super Fund takes 27% stake in fruit & vege firm NZ Gourmet to aid expansion

By Rebecca Howard

June 29 (BusinessDesk) – The New Zealand Superannuation Fund has taken a 27 percent stake in international fresh fruit and vegetable grower and marketer NZ Gourmet for an undisclosed price. Read more »

Auckland residential building consents hit 15-year high

Article – BusinessDesk

Auckland residential building consents hit 15-year high in May, led by stand-alone houses

By Tina Morrison

June 29 (BusinessDesk) – Auckland, which is suffering from a shortage of housing, saw the number of residential building consents hit the highest level in 15 years in May, according to the latest data. Read more »

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