Archive for the 'Article' Category

Goodman Property Trust reports 47% lift in 1H pre-tax profit

Article – BusinessDesk

Goodman Property Trust reported a 47 percent lift in first-half pre-tax profit as it benefited from fair value gains on investment properties. Read more »

Don Braid takes Shareholders’ Association Beacon Award

Article – BusinessDesk

Mainfreight MD Don Braid takes Shareholders’ Association Beacon Award
By Rebecca Howard

Nov. 6 (BusinessDesk) – Mainfreight managing director Don Braid has won the New Zealand Shareholders Association’s 2018 Beacon Award for developing what the association says is a unique culture at the Auckland-based transport and logistics company. Read more »

CBL Corp’s watershed meeting adjourned again: administrators

Article – BusinessDesk

CBL Corp’s watershed meeting adjourned again: administrators
By Margreet Dietz

Nov. 6 (BusinessDesk) – CBL Corp’s voluntary administrators have received High Court approval to further adjourn the watershed meetings, pending resolution of the status of the failed group’s insurance unit. Read more »

Fulton Hogan absorbs Stevenson assets, expects tougher times

Article – BusinessDesk

Fulton Hogan absorbs Stevenson assets, expects tougher times in 2019

By Gavin Evans

Nov. 2 (BusinessDesk) – Fulton Hogan committed close to $300 million for its strategic purchase of Stevenson Group’s construction and quarrying activities. Read more »

Fletcher sells Roof Tile Group for US$39M

Article – BusinessDesk

Fletcher sells Roof Tile Group for US$39M
By Paul McBeth

Nov. 1 (BusinessDesk) – Fletcher Building has sold its Roof Tile Group business to Canada’s IKO group for US$39 million and expects to exit its Formica laminated panels business this financial year. Read more »

5G spectrum allocation on track for early 2020: Faafoi

Article – BusinessDesk

5G spectrum allocation on track for early 2020: Faafoi
By Pattrick Smellie

Nov. 1 (BusinessDesk) – Allocation of radio spectrum for the next generation of mobile telecommunications is still on track for early 2020 “if everything goes to plan,” Communications Minister Kris Faafoi says. Read more »

Airport upgrades don’t justify targeted returns, ComCom says

Article – BusinessDesk

Auckland International Airport’s $1.8 billion infrastructure upgrade doesn’t justify a 7.06 percent return on its regulated assets during the next five years, the Commerce Commission says. Read more »

House prices tick up in three months to October

Article – BusinessDesk

House prices tick up in three months to October, Wellington stands out
By Rebecca Howard

Nov. 1 (BusinessDesk) – Growth in house prices ticked up modestly in the three months to October, with Wellington leading gains among the major centres. Read more »

Cooks Global Foods’ bid for Mojo falls through

Article – BusinessDesk

Cooks Global Foods’ bid for Mojo falls through
By Rebecca Howard

Oct. 31 (BusinessDesk) – Cooks Global Foods’ bid to buy Mojo Coffee Cartel for $19 million fell through when conditions weren’t met. Read more »

THL confident in new strategy; investors nervous

Article – BusinessDesk

THL confident in new strategy; investors nervous

By Nikki Mandow

Oct. 31 (BusinessDesk) – Tourism Holdings is at pains to stress to it isn’t betting the family farm, despite selling most of its remaining traditional tourism assets and launching an ambitious investment programme in digital products for campervan owners and renters. Read more »

Aotea Finance fined for lending on prohibited items

Article – BusinessDesk

Aotea Finance fined for lending on prohibited items including beds, fridges
By Paul McBeth

Oct. 31 (BusinessDesk) – A unit of payday lender Aotea Finance has been fined almost $49,000 and ordered to pay damages of $4,500 for using prohibited items such as beds and fridges as security for its loans. Read more »

Auckland Airport affirms earnings guidance

Article – BusinessDesk

Auckland Airport affirms earnings guidance in busy investment year
By Paul McBeth

Oct. 31 (BusinessDesk) – Auckland International Airport affirmed earnings guidance for a year where the key focus is infrastructure upgrades. Read more »

Building consents lift 5.4% in 12 months to September

Article – BusinessDesk

By Rebecca Howard

Oct. 31 (BusinessDesk) – The number of new homes consented in the 12 months to September lifted 5.4 percent as the number of new townhouses, flats, and units consented stormed higher. Read more »

Māori food and wine exporters get onto the blockchain

Article – BusinessDesk

Māori food and wine exporters get onto the blockchain

By Nikki Mandow

Oct. 31 (BusinessDesk) – What links Chinese e-commerce giant Alibaba, 11 Māori wine and food businesses, three NZ government organisations and digital transaction system blockchain? Read more »

Govt provides KiwiRail $35M to keep electric freight service

Article – BusinessDesk

Govt provides KiwiRail $35M to keep electric freight service

By Gavin Evans

Oct. 30 (BusinessDesk) – The government has provided KiwiRail an extra $35 million to restore its fleet of ageing electric locomotives on the North Island’s main trunk line. Read more »

No surge in foreign buyer activity ahead of residential ban

Article – BusinessDesk

By Rebecca Howard

Oct. 30 (BusinessDesk) – The number of New Zealand home transfers to foreign buyers continued to ease in the September quarter ahead of pending rule changes barring overseas buyers from snapping up existing houses. Read more »

Cavalier sees benefit in consumer shift from plastics

Article – BusinessDesk

Cavalier Corp says it is well-placed to take advantage of a growing consumer shift away from plastics.

That trend fits well with the carpet maker’s renewed focus on its high-quality wool products, particularly higher-margin, niche opportunities and the potential of major markets like the US and UK, chief executive Paul Alston said. Read more »

UniServices on board for latest Soul Machines funding round

Article – BusinessDesk

By Paul McBeth

Oct. 29 (BusinessDesk) – Auckland University’s UniServices has joined Mercedes-Benz in the latest Soul Machines fund-raising round, injecting US$2 million into the local artificial intelligence firm. Read more »

ACC unhappy with 2018 investment returns

Article – BusinessDesk

By Paul McBeth

Oct. 26 (BusinessDesk) – Accident Compensation Corp was disappointed with a 9.9 percent investment return in the June 2018 year, caused in part by its early decision to pare back its exposure to global equity markets. Read more »

KiwiRail begins geo-tech studies for Northport spur line

Article – BusinessDesk

KiwiRail begins geo-tech studies for Northport spur line

By Gavin Evans

Oct. 26 (BusinessDesk) – KiwiRail will today begin geotechnical investigations along part of the route of the proposed rail link to Northport. Read more »

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