Topics

The New Zealand dollar fell in local trading after reports China’s quarantine administration destroyed three different brands of locally-produced milk powder, reigniting fears about the quality of the country’s biggest export. The kiwi shed half a US cent in the local session on the initial reports, recovering by 5pm to trade at 84.30 US cents from 84.51 cents this morning …

Shares in APN News & Media plunged to a record low in New Zealand trading after the media group’s chief executive, chairman and three independent directors walked over strong-arm tactics by its two biggest shareholders to stop a capital raising. The shares dropped 14 percent to a record-low 31 cents, with just 12,000 shares changing hands before trading opens in …

Precinct Properties New Zealand, formerly known as AMP NZ Office, posted a 1.5 percent decline in first-half net operating income as costs rose and occupancy fell. It lifted its first-half dividend for the first time since 2008. Operating profit, which excludes some non-cash items and is used as the basis of dividend policy, was $26.2 million in the six months …

Comvita, which produces health products from manuka honey and olive leaves, expects a 15 percent fall in annual profit because of expensive honey, supply shortages and tough trading conditions in the UK and Australia. The Te Puke-based company expects net profit of $7 million in the year ending March 31, down from $8.2 million a year earlier which it had …

New Zealand’s dominant mobile and landline phone companies Telecom and Vodafone New Zealand are teaming up with Australian rival Telstra to look building a new trans-Tasman submarine cable to lift the nation’s internet links to the rest of the world. The phone companies have signed a non-binding memorandum Greasy types ruin works makeup cialis online pharmacy rocks skin This echeck …

Diligent Board Member Services was halted from trading on the NZX pending a report into stock options granted to chief executive Alessandro Sodi and other employees that may force the company to restate earnings. The company, whose shares have more than doubled in the past 12 months, set up a special committee in December after being notified that some options …

APN will announce its annual results on Thursday, and analysts are picking the media group to post a bottom line loss of A$287.5 million, according to forecasts collated by Reuters. Those picks include a 14 percent fall in sales to A$915.9 million and a 29 percent slump in earnings before interest, tax, depreciation amortisation and depreciation of $150.1 million. INM’s …

The New Zealand dollar traded near a 2 ½ year high against its Australian counterpart before minutes of the Reserve Bank of Australia’s last policy meeting that may hint at further easing across the Tasman. The kiwi traded at 82.05 Australian cents, little changed from 5 pm in Wellington yesterday, having reached as high as 82.33 cents at the end …

“It is with much regret that I need to inform you that I will be leaving APN tomorrow. The Chairman and I and a number of the independent directors have today resigned from the Board of APN. This was not a decision that was made lightly by any of us. Following a series of discussions regarding the need to raise …

The Australian Financial Review gets to the nub of the stoush that saw five of Herald publisher APN’s directors walk overnight after Ireland’s Independent News and Media exercised its shareholding muscle. The article it notable for suggesting INM’s own CEO Vincent Crowley might be a candidate for the new APN CEO role. Crowley – who is Irish – is a …