Archive for the 'Article' Category

Oji Fibre says Port of Tauranga agreement provides growth

Article – BusinessDesk

Oji Fibre says new Port of Tauranga agreement provides for growth

By Gavin Evans

Dec. 20 (BusinessDesk) – Oji Fibre Solutions has extended its freight agreement with Port of Tauranga for another decade. Read more »

NZ dollar sharply weaker after 3Q GDP misses expectations

Article – BusinessDesk

NZ dollar sharply weaker after 3Q GDP misses expectations

By Rebecca Howard

Dec. 20 (BusinessDesk) – The New Zealand dollar was sharply weaker against the US dollar after weaker-than-expected economic growth in the third quarter added to the view that rate cuts may be back on the table. Read more »

Vital’s manager swings the votes amid investor discontent

Article – BusinessDesk

Vital’s manager swings the votes amid investor discontent

By Jenny Ruth in Auckland

Dec. 20 (BusinessDesk) – Vital Healthcare Property Trust’s manager easily defeated the election of a director proposed by rebel investors and five other resolutions with the weight of the manager’s 24 percent holding in Vital cementing its victory, at least on the proxies held by chair Claire Higgins. Read more »

Kiwi buys another $25m property at Sylvia Park

Article – BusinessDesk

By Jenny Ruth

Dec. 20 (BusinessDesk) – Kiwi Property Group says it has paid $25 million for an industrial property opposite the Sylvia Park train station. Read more »

NZ shares fall as investors await Fed rate decision

Article – BusinessDesk

CORRECT: MARKET CLOSE: NZ shares fall as investors await Fed rate decision; Heartland sinks
(Fixes Macquarie estimate of Heartland’s capital requirements in 5th paragraph in story that ran yesterday, Dec. 18) Read more »

Telstra to join Southern Cross Cable, diluting Spark share

Article – BusinessDesk

Telstra to join Southern Cross Cable, diluting Spark shareholding
By Paul McBeth

Dec. 18 (BusinessDesk) – Australian telco Telstra will join Southern Cross Cable Network’s SX NEXT project as an anchor customer and take a quarter stake in the trans-Pacific underwater link operator. Read more »

Aged care, tourism first in line for temporary migrant work

Article – BusinessDesk

Residential aged care and the tourism and hospitality sectors are at the front of the queue in offering to develop the local workforce in exchange for easier access to temporary migrant workers. Read more »

UPDATE: Bell Gully to abandon Vero Centre

Article – BusinessDesk

UPDATE: Bell Gully to abandon Vero Centre for One Queen Street
(Updates with Bell Gully comment from fourth paragraph)

By Jenny Ruth Read more »

Bell Gully to abandon Vero Centre for One Queen Street

Article – BusinessDesk

By Jenny Ruth

Dec. 18 (BusinessDesk) – Precinct Properties is gaining Bell Gully as a tenant for its Commercial Bay development some time between the year ending June 2023 and 2025 and the law firm will leave a five-floor vacancy at Kiwi Property Group’s Vero Centre in Auckland’s Shortland Street. Read more »

Christmas shopping starts to take off

Article – BusinessDesk

By Jenny Ruth

Dec. 17 (BusinessDesk) – The Christmas shopping spree is heating up with spending excluding fuel jumping to $1.27 billion in the second week of December, up 6 percent compared with the first week. Read more »

Noel Leeming fined $200,000 for misleading consumers

Article – BusinessDesk

Noel Leeming fined $200,000 for misleading consumers
By Jenny Ruth

Dec. 14 (BusinessDesk) – Noel Leeming has been fined $200,000 for misleading consumers about their rights under the Consumer Guarantees Act following a Commerce Commission prosecution. Read more »

Housing market continued cooling in November

Article – BusinessDesk

Housing market continued cooling in November
By Jenny Ruth

Dec. 14 (BusinessDesk) – House price inflation abated further in November, although sales volumes increased slightly, and the Auckland market cooled a little more. Read more »

Buying off the plans driving down KiwiBuild cost to govt

Article – BusinessDesk

Buying off the plans driving down KiwiBuild cost to govt: HYEFU
By Pattrick Smellie

Dec. 13 (BusinessDesk) – Government capital spending on the KiwiBuild programme will be lower than anticipated as more of the affordable homes are expected to be provided through buying and selling privately developed houses. Read more »

Motor vehicle lending helps UDC lift annual profit 6%

Article – BusinessDesk

Motor vehicle lending helps UDC lift annual profit 6%
By Jenny Ruth

Dec. 12 (BusinessDesk) – The ANZ Bank-owned UDC Finance says an 18 percent increase in lending on motor vehicles helped it lift annual net profit 6 percent. Read more »

Sydney house price downturn could dampen Auckland prices

Article – BusinessDesk

By Jenny Ruth

Dec. 12 (BusinessDesk) – The sharp fall in house prices in Sydney this year, down almost 10 percent from their peak in 2017, could have a dampening effect on Auckland’s property market, although the shortage of local houses, lower mortgage rates and still elevated net migration will counter any impact. Read more »

RBNZ denies central bank exerted influence over CBLI

Article – BusinessDesk

Reserve Bank governor Adrian Orr batted away accusations that the central bank had exerted influence over CBL Insurance’s creditors to support them in its bid for liquidation. Read more »

Cleantech start-up Mint Innovation raises $5.2M

Article – BusinessDesk

Cleantech start-up Mint Innovation raises $5.2M to prepare for commercial deployment
By Paul McBeth

Dec. 11 (BusinessDesk) – Cleantech start-up Mint Innovation has raised almost $5.2 million from mostly Kiwi investors as it starts preparing for commercial deployment. Read more »

Cap proposed for transmission pricing changes

Article – BusinessDesk

The Electricity Authority plans to set a cap on any increases in customer costs resulting from proposed changes to the way almost $1 billion of annual transmission costs are shared around the country. Read more »

Ryman Healthcare: service provider or property play?

Article – BusinessDesk

By Jenny Ruth

Dec. 11 (BusinessDesk) – Ever since Ryman Healthcare listed on NZX in 1999, analysts have been divided on whether the company is a property play or the provider of an essential service delivered through property management and development. Read more »

Ryman Healthcare: service provider or property play?

Article – BusinessDesk

By Jenny Ruth

Dec. 11 (BusinessDesk) – Ever since Ryman Healthcare listed on NZX in 1999, analysts have been divided on whether the company is a property play or the provider of an essential service delivered through property management and development. Read more »

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