Thursday , January 24 2019
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New Zealand

MRP’s Metrix cans Trustpower contract before it begins

MightyRiverPower’s Metrix metering business has walked away from a deal with Infratil-controlled Trustpower that would have supplied the power company’s 242,000 electricity customers with smart meters. The Auckland-based company decided not to proceed with the contract after reviewing the systems development to date and ongoing requirements, it said in a statement. The contract was expected to start this year, before scaling …

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Tiwai Smelter termination deadline pushed out for another month

Meridian Energy and Rio Tinto-controlled New Zealand Aluminium Smelters have extended their electricity agreement for another month, giving the Tiwai Point smelter owner a little more time to sort out its electricity needs. Wellington-based Meridian agreed with NZAS last night to extend the date the smelter owner can terminate their agreement until Aug. 3, while keeping all other terms unchanged, …

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Brierley brings latest investment vehicle, Mercantile, to the NZX

Veteran corporate raider Ron Brierley is bringing his latest investment vehicle, Mercantile Investment, to the NZX, with a listing scheduled for next week. The Sydney-based investment firm has been approved by stock market operator NZX for a compliance listing on July 6, it said in a statement to the ASX yesterday. The move makes it easier for New Zealand investors …

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NZ primary sector businesses mull plans for growth at Stanford ‘bootcamp’

New Zealand’s largest primary sector businesses, including meat companies Silver Fern Farms and Alliance Group, seafood groups Sanford and Sealord, and milk processors Fonterra Cooperative Group and Miraka, are on a bootcamp in the US this week to work together on ways to add value to the country’s primary goods exports. The group of 50, which includes chief executives of …

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Briscoe builds 19.9% stake in Kathmandu, plans full cash and scrip takeover

Briscoe Group, the retailer controlled by managing director Rod Duke, has acquired 19.9 percent of Kathmandu and said it plans to make a full takeover offer for the outdoor equipment and clothing chain. Auckland-based Briscoe said it picked up 4.99 percent of Kathmandu over time and has subsequently acquired 14.9 percent of the target from institutional investors for $1.80 a share. That …

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Tim Groser: The Future of Global Trade – US and NZ as Partners in the Asia Pacific: Completing the TPP Negotiation

Address by the Hon Tim Groser, Minister of Trade and Minister of Climate Change Issues: US/NZ Partnership Forum, Auckland 30 June 2015 I would like to thank our two co-chairs, the Hon Simon Power, Chair of the NZ-US Council and Stu Van Soyoc, President of the US-based counterpart organisation for assuming joint responsibility for the Partnership Forum. I think it …

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Tripartite meeting speech: Guangzhou Mayor

Mayor Len Brown and Councillors Bill Cashmore and Denise Krum led a delegation of 43 Auckland businesses to the inaugural Tripartite Economic Alliance Summit in Los Angeles. “Auckland is New Zealand’s only global city and we are fast becoming a significant innovation hub in the Asia-Pacific region. The summit gives us the chance to build our trade and economic relations; to create exciting export opportunities …

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Fonterra cuts forecast payout to $4.50/kgMS on volatile dairy prices, over-supply

Fonterra Cooperative Group, the world’s biggest dairy exporter, has cut its forecast payout to farmers by 20 cents, blaming volatile global commodity prices and an over-supply in international markets. The Auckland-based companies has reduced its forecast farmgate milk price to $4.50 per kilogram of milk solids from $4.70/kgMS, and retained its estimated dividend range of between 20 and 30 cents, …

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