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MIDDAY UPDATE: Chorus shares slump on cheaper copper prices
Tuesday, 5 November 2013, 12:19 pm | BusinessDesk
Nov. 5 (BusinessDesk) – Shares in Chorus dropped to a four-month low after Telecommunications Commissioner Stephen Gale set cheaper prices for wholesale access to the company’s ageing copper network. More >>
MIDDAY UPDATE: Moa shares plunge after profit warning
Monday, 4 November 2013, 12:20 pm | BusinessDesk
Nov. 4 (BusinessDesk) – Shares in Moa Group plunged 10 percent after the boutique beer maker said its annual loss could be more than twice what it forecast in last year’s offer document. More >>
MIDDAY UPDATE: NZ Post to cut as many as 2,000 jobs
Friday, 1 November 2013, 12:50 pm | BusinessDesk
MIDDAY UPDATE: NZ Post to cut as many as 2,000 jobs over three years More >>
MIDDAY UPDATE: NZ central bank keeps interest rate unchanged
Thursday, 31 October 2013, 12:31 pm | BusinessDesk
Oct. 31 (BusinessDesk) – The nation’s central bank kept its official cash rate at a record-low 2.5 percent as expected this morning, with financial markets focused on the prospects for rate hikes next year. More >>
MIDDAY UPDATE: Transpacific gives up on local waste disposal
Wednesday, 30 October 2013, 12:17 pm | BusinessDesk
Oct. 30 (BusinessDesk) – Australian waste management firm Transpacific Industries has given up on its New Zealand unit, seven years after shelling out $870 million on the acquisition. More >>
MIDDAY UPDATE: Meridian set to go public
Tuesday, 29 October 2013, 12:14 pm | BusinessDesk
Oct. 29 (BusinessDesk) – Meridian Energy is set to go public this afternoon when trading of its instalment receipts kicks off at 1pm after a tepid response to the initial public offering. More >>
MIDDAY UPDATE: Infratil gets busy with Metlifecare, Oz PPPs
Friday, 25 October 2013, 12:25 pm | BusinessDesk
Oct. 25 (BusinessDesk) – Wellington-based infrastructure investor Infratil has had a busy day, announcing two deals worth more than $200 million. More >>
MIDDAY UPDATE: Resurgence in dairy sales lead exports higher
Thursday, 24 October 2013, 12:38 pm | BusinessDesk
Oct. 24 (BusinessDesk) – A strong recovery in dairy sales helped boost New Zealand exports in September and narrow the trade deficit. More >>
MIDDAY UPDATE: Pacific Edge soars as doors open to US
Wednesday, 23 October 2013, 12:14 pm | BusinessDesk
Oct. 23 (BusinessDesk) – Shares in Dunedin-based Pacific Edge continued their surge today after the bladder cancer test inventor signed its second deal with a US healthcare network, opening the door to the world’s biggest economy. More >>
MIDDAY UPDATE: Zespri comes under SFO’s gaze
Tuesday, 22 October 2013, 12:15 pm | BusinessDesk
Oct. 22 (BusinessDesk) – Legislated export marketing monopolist Zespri International is being investigated by the Serious Fraud Office, though no-one’s saying what for. More >>
MIDDAY UPDATE: Infratil runs ruler over investment options
Monday, 21 October 2013, 12:14 pm | BusinessDesk
Morrison & Co-managed infrastructure investor Infratil has shelved plans to buy back shares as it runs the ruler over potential opportunities. More >>
MIDDAY UPDATE: Quadrant reaps $424.4M from Summerset
Friday, 18 October 2013, 12:29 pm | BusinessDesk
Oct. 18 (BusinessDesk) – Australia’s Quadrant Private Equity has reaped about $424.4 million from a staged exit of its holding in local retirement operator and developer Summerset Holdings, selling its remaining stake today. More >>
MIDDAY UPDATE: Govt sticks with status quo on KiwiSaver
Thursday, 17 October 2013, 12:12 pm | BusinessDesk
Oct. 17 (BusinessDesk) – The government has stuck with the conservative setting for default KiwiSaver funds having reviewed the seven-year-old savings scheme, deciding introducing a tiered approach linked to a member’s age. More >>
MIDDAY UPDATE: Rising inflation firms up March rate hike
Wednesday, 16 October 2013, 12:21 pm | BusinessDesk
Oct. 16 (BusinessDesk) – The fastest pace of quarterly inflation in more than two years has markets firming up their expectations for a March rate hike next year. More >>
MIDDAY UPDATE: Xero flush with cash after capital raising
Monday, 14 October 2013, 12:13 pm | BusinessDesk
Oct. 14 (BusinessDesk) – Local tech darling Xero is flush with cash after raising $180 million from existing investors, a deal which prompted another jump in the share price amid confidence in the future prospects of the cloud-based accounting software ... More >>
Van Klink finishes third in NZ historic rally championship
Friday, 11 October 2013, 12:16 pm | Van Klink Motorsport
The 2013 New Zealand Rally Championship (NZRC) came to a disappointing end for Christchurch rally driver, Marcus van Klink who finished the historic championship in third, after a promising start at the final round, held at Rally Wairarapa over the weekend. More >>
MIDDAY UPDATE: Diligent shares drop as accounting fix drags
Friday, 11 October 2013, 12:06 pm | BusinessDesk
Oct. 11 (BusinessDesk) – Shares in governance software maker Diligent Board Member Services slumped almost 12 percent today after the New York-based and locally listed firm said it was still getting its books in order, while delivering a truncated update. More >>
MIDDAY UPDATE: MightyRiver looks to prop up ailing shares
Thursday, 10 October 2013, 12:09 pm | BusinessDesk
Oct. 10 (BusinessDesk) – The board of government-controlled power company MightyRiverPower is hoping to prop up the firm’s ailing share price in a programme to buy back up to 1.8 percent of the shares on issue. More >>
MIDDAY UPDATE: Pressure mounts over superannuation age
Wednesday, 9 October 2013, 12:17 pm | BusinessDesk
Oct. 9 (BusinessDesk) – Retirement Commissioner Diane Maxwell has thrown her voice behind a growing call for the government to reconsider its stance on keeping the pension age of eligibility unchanged in a wide-ranging document on retirement income. More >>
MIDDAY UPDATE: Sky TV gets slap on the wrist over ISP deals
Tuesday, 8 October 2013, 12:18 pm | BusinessDesk
Oct. 8 (BusinessDesk) – The country’s antitrust regulator has given pay-TV operator Sky Network Television a slap on the wrist over its content contracts with internet service providers, dishing out a written warning for probably stifling competition ... More >>
MIDDAY UPDATE: Government to open books this afternoon
Monday, 7 October 2013, 12:19 pm | BusinessDesk
Oct. 7 (BusinessDesk) – the government is set to open its books for the 2013 year this afternoon in what will probably be a smaller deficit that previously feared. More >>
Hamilton To Play Otago in Final of Netball Champs
Friday, 4 October 2013, 3:03 pm | Netball New Zealand
Defending champions Otago will host Hamilton in the final of the Lion Foundation Netball Champs after two stunning upsets at the Edgar Centre in Dunedin. More >>
MIDDAY UPDATE: Banks lure customers with iPads, TVs, phones
Friday, 4 October 2013, 12:17 pm | BusinessDesk
Oct. 4 (BusinessDesk) - Banks are improving the profit margins on their lending by competing less on cut-throat interest rates and instead are using giveaway offers for iPads, televisions and smartphones, according to the quarterly KPMG Financial ... More >>
From the Farm: MPI, on right track, has further to go
Thursday, 3 October 2013, 4:10 pm | BusinessDesk
Oct. 3 (BusinessDesk) - Martyn Dunne, a former Special Air Service commander in 1 Ranger Squadron, has his own page on Wikipedia (http://en.wikipedia.org/wiki/Martyn_Dunne). More >>
MIDDAY UPDATE: Auckland house sales fall in September
Thursday, 3 October 2013, 12:40 pm | BusinessDesk
Oct 3 (BusinessDesk) - Auckland house sales fell in September, the last month before the Reserve Bank's restrictions on high loan-to-value home loans kicked in, while the median price climbed, according to realtor Barfoot & Thompson. More >>
MIDDAY UPDATE: Crown wrings $75M from Solid Energy’s lenders
Tuesday, 1 October 2013, 12:15 pm | BusinessDesk
Oct 1 (BusinessDesk) - Banks that lent unsustainable amounts of debt to state-owned coal miner Solid Energy are taking a $75 million "hair-cut", dressed up as an issue of redeemable preference shares that may never be repaid. More >>
MIDDAY UPDATE: Housing consent trend weakens
Monday, 30 September 2013, 12:15 pm | BusinessDesk
Sept. 30 (BusinessDesk) – New Zealand home building consents rose for the first time in three months in August although the government statistician’s trend series of data shows activity may be slowing for the first time since March 2011. More >>
NZL lying 3rd and 4th at 49er and 49erFX Worlds
Thursday, 26 September 2013, 3:34 pm | Yachting New Zealand
The 2013 49er and 49erFX World Championships continued in Marseille, France, with New Zealand crews now sitting in 3rd and 4th in the 49er and in 10th in the 49erFX. More >>
MIDDAY UPDATE: Oracle keeps America’s Cup, NZ shares fall
Thursday, 26 September 2013, 12:24 pm | BusinessDesk
Sept. 27 (BusinessDesk) – US billionaire Larry Ellison’s Oracle syndicate kept the America’s Cup in the final race of the regatta, coming back from a two-point penalty and staring down seven straight opportunities for Emirates Team New Zealand ... More >>
MIDDAY UPDATE: Kathmandu boosts annual profit
Tuesday, 24 September 2013, 12:09 pm | BusinessDesk
Sept. 24 (BusinessDesk) – Outdoor equipment chain Kathmandu boosted annual profit and sees more to come in the 2014 year. More >>
MIDDAY UPDATE: Kiwis work longer, produce less
Monday, 23 September 2013, 12:21 pm | BusinessDesk
Sept. 24 (BusinessDesk) – New Zealanders typically work longer hours than their peers in developed nations, but have less to show for themselves, according to a Productivity Commission report. More >>
MIDDAY UPDATE: Meridian is coming
Friday, 20 September 2013, 12:16 pm | BusinessDesk
Sept. 20 (BusinessDesk) – The government has lodged the formal offer documents for its partial privatisation of the country’s biggest power company, Meridian Energy, in what will raise up to $2.9 billion. More >>
MIDDAY UPDATE: NZ economy grows 0.2%
Thursday, 19 September 2013, 12:15 pm | BusinessDesk
Sept. 19 (BusinessDesk) – New Zealand’s economy grew more than expected in the second three months of the year as architecture and engineering services trumped the country’s worst drought in seven decades, which crimped the agriculture sector. More >>
MIDDAY UPDATE: Drought weighs on current account
Wednesday, 18 September 2013, 12:02 pm | BusinessDesk
Sept. 18 (BusinessDesk) – The country’s worst drought in seven decades weighed on New Zealand’s balance of payments in the second three months of the year, as the arid conditions eroded agriculture exports. More >>
MIDDAY UPDATE: Chorus hires old foe to back law change
Tuesday, 17 September 2013, 12:06 pm | BusinessDesk
Sept. 17 (BusinessDesk) – Chorus has hired its old nemesis, former Telecommunications Commissioner Ross Patterson, to back up its submission the regulatory landscape is in need of a complete overhaul if the government’s fibre plans are to work. More >>
MIDDAY UPDATE: Pace of house sales slows
Monday, 16 September 2013, 12:14 pm | BusinessDesk
Sept. 16 (BusinessDesk) – The pace of growth in New Zealand’s property market slowed last month as looming restrictions on the ability of people to borrow with small deposits kept potential sellers in check. More >>
Test publish
Monday, 16 September 2013, 6:30 am | test publisher
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Monday, 16 September 2013, 6:30 am | test publisher
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Test publish
Monday, 16 September 2013, 6:30 am | test publisher
Test publish - Test publish Test publish - Test publish Test publish - Test publish Test publish - Test publish Test publish - Test publish Test publish - Test publish More >>
MIDDAY UPDATE: Warehouse profits on asset sales, new units
Friday, 13 September 2013, 12:22 pm | BusinessDesk
Sept. 13 (BusinessDesk) – The country’s biggest listed retailer Warehouse Group boosted its annual profit by 61 percent as it reaped the gains from selling property and adding new revenue streams from acquisitions in the year. More >>
MIDDAY UPDATE: Wheeler says rates rising next year
Thursday, 12 September 2013, 12:25 pm | BusinessDesk
Sept. 12 (BusinessDesk) – Reserve Bank governor Graeme Wheeler expects to start hiking interest rates next year as the booming housing market and growing construction sector look set to start fuelling inflation. More >>
MIDDAY UPDATE: Failed finance companies yesterday’s news
Monday, 9 September 2013, 12:13 pm | BusinessDesk
Sept. 9 (BusinessDesk) – The Financial Markets Authority has wrapped up another four probes into failed finance companies and expects to have more to say on its remaining five before the year is out. More >>
MIDDAY UPDATE: Rob Fyfe looks for work
Friday, 6 September 2013, 12:22 pm | BusinessDesk
Sept. 6 (BusinessDesk) – Former Air New Zealand chief executive Rob Fyfe will be winging his way back home to New Zealand, and is in need of a new job. More >>
MIDDAY UPDATE: Dotcom leaves Mega board
Thursday, 5 September 2013, 12:07 pm | BusinessDesk
Sept. 5 (BusinessDesk) – Internet entrepreneur Kim Dotcom has resigned from the board of his new Mega data-storage empire to try his hand on other projects and fend off attempts by the US Federal government to extradite him from New Zealand. More >>
Nield Braces For Busy Month Ahead
Thursday, 5 September 2013, 11:34 am | Bikesport NZ
SEPTEMBER 4, 2013: Northland’s Mitchell Nield has his work cut out over the next few weeks. The Bay of Islands motorcycle ace has had to settle for the No.2 spot at quite a few events recently, but he reckons the top step of the podium is beckoning ... More >>
From the Farm: Animal welfare failures
Wednesday, 4 September 2013, 4:56 pm | BusinessDesk
Sept. 4 (BusinessDesk) - A dairy farmer pleaded guilty to nine animal welfare charges in the Ashburton District Court this week. The offences are two years old and from the Ministry for Primary Industries description of the situation, could have been ... More >>
MIDDAY UPDATE: TVNZ sells land to SkyCity for $10.6 mln
Wednesday, 4 September 2013, 12:18 pm | BusinessDesk
Sept. 4 (BusinessDesk) – Television New Zealand has settled a deal with SkyCity Entertainment Group to sell its Hobson St land in Auckland, paving the way for the casino operator to build a $400 million international convention centre. More >>
MIDDAY UPDATE: Ex-wine boss charged with corruption
Tuesday, 3 September 2013, 12:08 pm | BusinessDesk
Sept. 3 (BusinessDesk) – Former boss of New Zealand Wine Co, Peter Scutts, appeared in the Auckland District Court today, facing corruption charges over kick-backs he allegedly received when he was in charge of the wine company. More >>
Labour Leadership Election 2013
Monday, 2 September 2013, 4:11 pm | Labour Leadership Election 2013
Drysdale wins Suzuki race weekend at Taupo
Monday, 2 September 2013, 12:35 pm | Winger Suzuki Sport Cup
The weekend’s fourth round for the 2013 Winger Suzuki Swift Sport Cup was won by Palmerston North school boy Josh Drysdale, whose consistency edged out Takapau’s Sam Barry and series leader Shaun Lawrence at the Taupo Motorsport Park. More >>
MIDDAY UPDATE: Govt asset sale programme to go to referendum
Monday, 2 September 2013, 12:17 pm | BusinessDesk
Sept. 2 (BusinessDesk) – The government’s cornerstone policy plank to sell down its holdings in energy companies will go to the public after some 330,000 people signed a petition for a referendum on the issue. More >>
Teneale Hatton wins GOLD in the K1 5000m at World Champs
Monday, 2 September 2013, 12:07 pm | Canoe Racing NZ
Teneale Hatton smashed the K1 5000m tonight to claim Gold - 23 seconds ahead of the Hungarian Renata Csay and third placed Anne Rikala of Finland. Teneale hit out hard from the start line and found clear water early on. More >>
Kiwi girls claim two canoe sprint world titles
Monday, 2 September 2013, 12:03 pm | Canoe Racing NZ
Lisa Carrington raced a nail-biting K1 200m final tonight to claim gold, her second World Championship title in this event. Hot on the heels of her third place in the K1 500m she is undeniably pleased with the win, although it was her closest race ... More >>
Greg Murphy is a V8 champion again
Monday, 2 September 2013, 11:58 am | BNT V8 SuperTourers
Greg Murphy claimed his first title in 17 years as he came through a day of crashes and controversy at Taupo’s Gull 250 meeting, fourth round of the BNT V8 SuperTourers championship. More >>
DWC sponsors West Coast Amateur Sports Trust
Monday, 2 September 2013, 11:34 am | Development West Coast
Development West Coast is pleased to announce it is the new sponsor of the West Coast Amateur Sports Trust. Formally known as the Solid Energy Amateur Sports Trust, it will now be called the Development West Coast Amateur Sports Trust. More >>
MONEY TALKS: Going Green for utu
Friday, 30 August 2013, 5:07 pm | BusinessDesk
Aug. 30 (BusinessDesk) – Unless you’re one of the financial market whiz-kid fraternity, chances are you didn’t notice the passing of the Financial Markets Conduct Act into law this week. More >>
MIDDAY UPDATE: Building consents slip in July
Friday, 30 August 2013, 12:15 pm | BusinessDesk
Aug. 30 (BusinessDesk) – A drop in building permits for apartments in July drove a decline in overall consents last month, though Auckland and Christchurch still reported strong growth. More >>
MIDDAY UPDATE: Ross pleads guilty to Ponzi scheme charges
Thursday, 29 August 2013, 12:39 pm | BusinessDesk
Aug. 29 (BusinessDesk) – Former Ross Asset Management principal David Ross has pleaded guilty to all charges he faced over running a Ponzi scheme in Wellington for the past decade. More >>
Ōpōtiki Dunes Dash Has Something For Everyone
Thursday, 29 August 2013, 11:23 am | Opotiki District Council
Registrations are open for the 2013 Dunes Dash on 15 September 2013 and there is something for everyone at this year’s event. More >>
From the Farm: Fonterra off the hook
Thursday, 29 August 2013, 8:11 am | BusinessDesk
Aug. 29 (BusinessDesk) – There are three more inquiries under way into Fonterra Cooperative Group’s contaminated whey protein scare but the first one, out yesterday, probably gives a good account of what happened. More >>
