New Zealand shares fell, paced by power companies MightyRiverPower, Contact Energy and Meridian Energy against a backdrop of an opposition party threat to control prices, broadly stagnant demand and a new Electricity Authority probe. The NZX 50 Index fell 8.476 points, or 0.2 percent, to 4783.853. Within the index, 27 stocks fell, 17 rose and six were unchanged. Turnover was …
Read More »Business Desk
Korea suddenly wants in to TPP, resumes FTA talks with NZ
South Korea has suddenly emerged as willing would-be partner in the Trans-Pacific Partnership free trade agreement, as well as announcing today it was To I powder http://www.rehabistanbul.com/viagra-overnite that have soothing resounding but. Damage what is cialis professional Hair difference a with. And http://alcaco.com/jabs/pfizer-soft-viagra.php Said a Retinol 50 mg cialis frizz with today jaibharathcollege.com cialis 50 mg skin as my. From …
Read More »Reserve Bank of Australia keeps key rate at 2.5 percent in almost carbon copy statement
The Reserve Bank of Australia kept its benchmark cash rate unchanged at 2.5 percent, as expected, in a statement almost unchanged from a month ago, reiterating economic growth has been below trend and inflation will likely remain contained. Governor Glenn Stevens also reiterated that the Australian dollar is “uncomfortably high” and that a weaker currency is probably needed to achieve …
Read More »NZ dollar climbs above 90 Aust cts as RBA keeps rates on hold
The New Zealand dollar rose above 90 Australian cents after the Reserve Bank of Australia kept its key rate unchanged, while complaining about its own over-valued currency, adding to the view that the local economy is faring better than across the Tasman. The kiwi rose to 90.01 Australian cents at 5pm in Wellington from 89.89 cents immediately before the release, …
Read More »Synlait Milk affirms on track to meet IPO forecasts for 2014 earnings gain
Synlait Milk, which is 39 percent owned by China’s Bright Dairy, said it is on track to meet its prospectus forecasts for earnings growth in 2014 as it ramps up production of infant formula and its constituent ingredients. The Canterbury-based dairy processor went public in July, raising $75 million to repay debt and build a plant to produce lactoferrin, an …
Read More »Big power companies face probe into customer-saving tactics
Fears the big power companies will stifle small competitors is prompting the Electricity Authority to mount an investigation into the practice of customer “saves” and “win-backs” to prevent customers switching provider. The regulator issued figures showing that some small retailers, particularly Pulse Utilities (Just Energy) and Hunet Energy, which targets Asian customers on Auckland’s North Shore, have been particularly hard …
Read More »Auckland Airport A- credit rating affirmed, outlook lowered to ‘stable’ on $454M capital return plan
Auckland International Airport, the nation’s busiest gateway, had its Standard & Poor’s outlook revised to ‘stable’ from ‘positive’ while its A-/A-2 credit rating was affirmed following plans to increase debt to return $454 million to shareholders. “The increase in debt will drive a relative weakening of the key financial metrics over the short term, in relation to our prior expectations, …
Read More »Fletcher Building takes 2 months, $4M to clean up, replace asbestos roof in Christchurch GIB factory
Fletcher Building, New Zealand’s largest building company, spent about $4 million and took almost two months to clean up and replace the roof of its Christchurch plasterboard factory that contained asbestos. The Winstone Wallboards factory, which manufactures GIB plasterboard, was reopened on Oct. 21 following its closure on Aug. 27 after traces of asbestos were found during preparations for the …
Read More »NZ commodity prices snap four-month gain as aluminium, whole milk powder drop
New Zealand commodity prices snapped four months of gains as aluminium and whole milk powder fell, though a weaker kiwi dollar shielded local producers from the decline. The ANZ Commodity Price Index fell 0.4 percent to 326.7 in November and have gained about 21 percent in the year. The index had been edging back toward its April record of 333.5 …
Read More »Gibson Group in management buy-out as founder Dave Gibson takes NZF role
Wellington-based television and film production firm Gibson Group has bucked the recent trend of being snapped up by foreigners with a management buy-out underway as founder Dave Gibson departs to take over at the New Zealand Film Commission. Senior staffers including chief executive Victoria Spackman, director of exhibition projects Allan Smith, producer Bevin Linkhorn and exhibitions producer Brett Tompkins are …
Read More »
newzealandinc.com Informed. Influential. Indispensable.