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Huhtamaki Oyj, the Finnish packaging manufacturer, bought Auckland-based folding carton maker Interpac Packaging for 7 million euros to expand its product range. Interpac manufactures folded carton packaging for consumer goods and retail products, and the foodservice industry, and manufacturers corrugated packaging for the local wine industry with annual sales of some 11 million euros, the Espoo, Finland-based company said in a …

Christchurch City Holdings’ offer to mop up the remaining shares in Lyttelton Port Co amounts to a premium of up to 14 percent, according to a report from the independent adviser that recommends it be accepted. Christchurch City Council’s investment and infrastructure unit, which already owns about 79.6 percent of the port, has entered into a lock-up agreement with Port Otago for …

The New Zealand dollar was little changed along with other major currencies as weak manufacturing PMI data from China to Europe had traders looking ahead to manufacturing figures from the US tonight. The kiwi was at 83.76 US cents at 8am in Wellington, from 83.73 cents at 5pm yesterday following the Labor Day holiday in the US yesterday. The trade-weighted index was at …

APN News & Media, which publishes the New Zealand Herald, may list its New Zealand business on the local sharemarket.  The Sydney-based company has retained Grant Samuel to assist with its review of strategic options for APN New Zealand, which includes its New Zealand publishing assets, as well as The Radio Network which encompasses the Newstalk ZB and ZM stations, and …

New Zealand bred and Hong Kong based toy company ZURU signs a global exclusive deal with Kickstarter sensation, Bunch O Balloons — the fastest and easiest way to make water balloons. By raising close to $1 million dollars through the crowd-funding site Kickstarter, it is one of the top funded Kickstarter campaigns of the year. The innovative design allows you …

Allied Farmers, which is rebuilding from a disastrous takeover of the Hanover and United Finance loan books, returned to profit as its core livestock unit lifted income with gains in Taranaki and Waikato. The Hawera-based company reported a profit of $1.03 million, or 1.03 cents per share, in the 12 months ended June 30, turning around a loss of $1.12 million, or 2.94 cents, …

The New Zealand dollar rose to a four-month high against the ruble on concern Russia may face more sanctions over Ukraine, further denting the fragile Russian economy. The kiwi touched a high of 31.14 rubles and was trading at 30.95 rubles at 8am in Wellington, from 30.83 rubles at 5pm on Friday. The local currency was little changed at 83.58 US cents from 83.59 …

US employment data and a meeting of policymakers at the European Central Bank will renew the focus on when interest rates will begin to rise in the US, and the degree and timing of additional stimulus in the euro zone. The state of the labour market in the US will be revealed in the ADP employment report, due Wednesday, weekly jobless …

Prime Minister John Key has been handed a cast-iron excuse to rid his government of its troublesome Justice Minister, Judith Collins, using an email supplied anonymously to his office yesterday which appears to show Collins conspiring with the Whaleoil blog run by National Party activist Cameron Slater to unseat the then head of the Serious Fraud Office, Adam Feeley, in 2011. Collins was …

Pumpkin Patch, which slashed its earnings forecast earlier this year, will take a $12 million charge to write down the value of stores and IT software, while posting underlying profit in line with guidance. The children’s clothing chain said a provision for the write down of IT software and store assets will be reflected in its 2014 results, taking total reorganisation costs …