Wednesday , July 26 2017
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MARKET CLOSE:NZ shares rise on weaker kiwi; Fletcher gains, Meridian drops

New Zealand shares rose as a weaker kiwi dollar attracted investors to stocks with currency exposure such as Fletcher Building and Fisher & Paykel Healthcare. Meridian Energy extended its fall from a record. The NZX 50 Index increased 6.019 points, or 0.1 percent, to 5259.507. Within the index, 22 stocks rose, 19 fell and nine …

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Burgerfuel to bring franchise stores in-house

Burger Fuel Worldwide, the NZAX-listed fast food chain franchisor, plans to bring its franchise stores in-house which it expects will deliver greater profitability, and has bought the Henderson, Auckland store for an undisclosed sum. The Auckland-based fast food chain is targeting at least a 20 percent return on investment from its company-owned …

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Environmental groups criticise Chatham Rock plans to mitigate mining impact

Environmental lobbyists criticised plans by Chatham Rock Phosphate to mitigate the impact of its proposal to mine phosphate nodules from the Chatham rise seabed, saying it wouldn’t diminish the risk and uncertainty of the project, and that any economic benefit didn’t trump environmental concerns. Speaking on the second day of …

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Pledge Me launches equity offers for computer museum, hovercraft

Pledge Me, the online crowd funding platform, has launched its first two equity offers, giving investors the chance to buy into New Zealand’s first computer museum, backed by Apple Inc co-founder Steve Wozniak, and a hovercraft ferry in the South Island. The Wellington-based crowd funder is licensed under the new Financial Markets …

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Who’s on Location goes looking for cash

Wellington visitor management software firm WhosonLocation is looking to raise up to $3 million in private equity as it seeks the next phase of growth since it launched five years ago. Founder Darren Whitaker-Barnett told BusinessDesk the company, which operates in nine countries and boasts 61,000 users globally, is seeking …

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