Archive for the 'Uncategorized' Category

Constant regulatory ‘tweaking’ irks foreign funders: Vector

Article – BusinessDesk

Aug 15 (BusinessDesk) – Potential foreign lenders to network monopolies such as Vector Ltd. are being put off by “constant tweaking” of the regulated pricing regime administered by the Commerce Commission, the Wellington High Court heard this … Read more »

Freightways lifts underlying annual profit 7%

Article – BusinessDesk

Aug. 15 (BusinessDesk) – Freightways Ltd., the courier and data management company, lifted underlying annual net profit 7% from a combination of volume and pricing increases as well as new business. Read more »

Vodafone fined $400K in first of six Fair Trading Act claims

Article – BusinessDesk

Aug. 12 (BusinessDesk) – Vodafone New Zealand Ltd., the country’s biggest mobile phone operator, has been fined $400,000 for misleading customers in the first of six prosecutions by the antitrust regulator. Read more »

Chinese investors seek clearance to buy Gulf’s Hobbs Wharf

Article – BusinessDesk

Aug 12 (BusinessDesk) – Chinese investors have sought Overseas Investment Office approval to buy the Hobbs Wharf development in Whangaparoa from Gulf Corp., which failed owing $155 million. Read more »

Power attracted by standard code of conduct for all lenders

Article – BusinessDesk

Aug. 11 (BusinessDesk) – Outgoing Consumer Affairs Minister Simon Power had his interest piqued by the suggestion that all lenders, regardless of size, should adhere to a standard code of conduct. Read more »

Steel & Tube lifts annual net profit threefold

Article – BusinessDesk

Aug. 11 (BusinessDesk) – Steel & Tube Holdings’ annual profit jumped three-fold from last year’s recession hit result but the company still describes market conditions in most areas as ‘difficult.’ Read more »

TelstraClear posts loss on Canterbury quakes, outsourcing

Article – BusinessDesk

Aug. 11 (BusinessDesk) – TelstraClear Ltd., the local subsidiary of Australia’s Telstra Corp., made a loss as the Canterbury earthquakes and costs of setting up a call-centre in the Philippines eroded earnings. Read more »

State sector cuts weigh on Wellington property values

Article – BusinessDesk

Aug. 8 (BusinessDesk) – Wellington continued to buck the national trend of steady property values as the prospect of state sector cuts weighs on the capital city, according to government valuer, Quotable Value Ltd. Read more »

WEEKLY SPORTS DIGEST: Adam Scott wins golf’s WGC-Bridgestone

Article – BusinessDesk

08/08/11 Executive sport summary – An overview of the major sporting events – Results, key moments and talking points – Everything you need to know to foot it at the water cooler this week. Read more »

Aucklanders keep houses off the market, Barfoot says

Article – BusinessDesk

Aucklanders keep houses off the market, Barfoot says Aug. 1 (BusinessDesk) – Auckland homeowners put just 1,050 new properties up for sale last month, the lowest number in a decade, according to real estate agency Barfoot & Thompson. Read more »

Rugby chief Chris Moller to become Sky City chairman

Article – BusinessDesk

Aug. 3 (BusinessDesk) – New Zealand Rugby Union supremo Chris Moller is to take over as Sky City Entertainment Group’s chairman when current chairman Rod McGeoch retires at the 2012 annual shareholders’ meeting. Read more »

Ryman buys land for 26th village in Howick

Article – BusinessDesk

Aug. 2 (BusinessDesk) – Retirement village builder and operator Ryman Healthcare plans its 26th retirement village will be established in the Howick suburb of Auckland. Read more »

Electricity Authority intervenes to encourage competition

Article – BusinessDesk

Aug. 2 – The Electricity Authority is to commandeer funds normally shared among industry participants to create a new protection against sky-high wholesale market spot price spikes like those that hit the market on Saturday, March 26. Read more »

WEEKLY SPORTS DIGEST: Button wins in Hungary

Article – BusinessDesk

01/08/11 Executive sport summary – An overview of the major sporting events – Results, key moments and talking points – Everything you need to know to foot it at the water cooler this week. Read more »

James Smith’s Corner owner in liquidation

Article – BusinessDesk

July 29 (BusinessDesk) – Property developer David Blackmore’s Blackmore Trust Ltd., which owns and manages Wellington’s James Smith’s Corner, has been put into liquidation. Read more »

High Court throws out DNZ’s bid to force Argosy meeting

Article – BusinessDesk

July 29 (BusinessDesk) – The High Court in Auckland has thrown out a bid by property investor DNZ Property Fund Ltd. to force a special meeting for Argosy Property Trust unitholders to vote on dumping the ANZ Bank-owned manager. Read more »

Retail Food spends $4M to buy NZ coffee group Evolution

Article – BusinessDesk

July 28 (BusinessDesk) – Retail Food Group, the ASX-listed food franchise that operates the Esquires Coffee Houses and Brumby’s Bakeries brands, has agreed to a $4 million deal to buy Evolution Coffee Roasters group. Read more »

Floods, earthquakes leave Abano short of profit forecasts

Article – BusinessDesk

July 27 (BusinessDesk) – Abano Healthcare Group’s annual results fell slightly short of its own forecasts because the Queensland floods and Christchurch earthquakes cost it more than expected. Read more »

National Finance’s Ludlow guilty of theft, false accounting

Article – BusinessDesk

July 27 (BusinessDesk) – Trevor Ludlow, the former director of failed lender National Finance 2000 Ltd., has been convicted of theft and false accounting charges brought by the Serious Fraud Office. Read more »

MARKET CLOSE: NZ shares slide, led by NZ Oil & Gas, Contact

Article – BusinessDesk

July 26 (BusinessDesk) – New Zealand shares fell for a second day, led by NZ Oil & Gas, as investors adjusted their valuations to take account of smaller Tui reserves. Contact Energy declined on signs intense rivalry for customers is prompting … Read more »

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