Uncategorized

Shares of Pacific Edge, which have soared almost 200 percent in the past 12 months, extended their gains after a deal was signed allowing its bladder cancer test to be used District Health Boards. The stock jumped 4.9 cents to $1.72 after the Health Innovation Hub, a government agency set up to allow technology innovations to be commercialised via the …

Clorox New Zealand, the local arm of the NYSE-listed bleach and Glad wrap maker, has extended a run of flat earnings, echoing the results of a parent company looking to emerging markets to drive growth in sales of household staples. Profit was $8.8 million in the 12 months ended June 30, 2013, little changed from a year earlier, according to …

Power prices could be expected to rise if the Labour and Green parties’ electricity policy is adopted using the high historic cost of building some of the country’s largest hydro dams, a research paper prepared for Business New Zealand claims. Produced by the Wellington consultancy Sapere, which advised on the government’s 2010 electricity reforms, the paper also doubts the Labour-Greens …

US hedge fund Libra Advisors will take a $12 million stake in Rubicon in a private placement to shore up the company’s funding position and support its future commitments to forestry biotech firm ArborGen. The New York-based investor will buy 29.3 million shares at 41.29 cents per share, the volume weighted average price over the last 10 trading days, Rubicon …

The New Zealand dollar advanced after a key US employment report pointed to a weaker economy than expected and as risk appetite returned to the market. The kiwi touched 84.95 yen over the weekend, its highest level this year, and was trading at 84.81 yen at 8am in Wellington from 83.89 yen at 5pm on Friday. The local currency was …

Janet Yellen is scheduled to deliver her first testimony as chairman of the Federal Reserve to US lawmakers this week after a weaker-than-expected jobs report did little to temper investors’ optimism about the US economic outlook. In the past five days, the Dow Jones Industrial Average gained 0.6 percent, while the Standard & Poor’s 500 Index climbed 0.8 percent, and …

The Australian government has agreed to make the long-vexed issue of mutually recognising trans-Tasman imputation credits on dividends a topic for review in a forthcoming white paper on tax reform. However, just how big a topic remains to be seen. The decision rated the last paragraph in a pro forma press statement issued by Prime Minister John Key after today’s …

Northland Port Corp, which owns half of the Whangarei port’s operating company, has sold its 50 percent stake in North Port Coolstores to partner NPC Investments for $1.8 million. The company will realise a gain of some $800,000 from the sale which will be accounted for in its second half earning of this financial year, it said in a statement. …

Previous investors in Direct Property Fund, which is now merged with Property For Industry, are being offered the opportunity to reinvest their dividends in the PFI dividend reinvestment scheme, if and when its suspension is lifted. The two property companies merged July last year, creating the fifth largest listed property group on the New Zealand share market and boosting its …

Canada’s Smart Technologies has given up on New Zealand-based NextWindow, which it bought in 2010 for US$82 million, and plans to wind down the unprofitable touch-screen display developer in the next year. Based in Calgary, Alberta, Smart today announced plans to exit its optical touch sensor business for desktop displays and expects Next Window to be wound down by the …