Topics

New Zealand shares rose, led by New Zealand Oil and Gas after it bought a cornerstone stake in ASX-listed Cue Energy. Fletcher Building and Sky Network Television advanced as dual-listed stocks followed the Australian bourse higher. Kathmandu Holdings tumbled after it flagged poor sales across the Tasman, its largest market. The NZX 50 Index gained 13.989 points, or 0.3 percent, to 5541.739. Within …

The Supreme Court has denied aged care provider Terranova Homes and Care, at the centre of a landmark court case paving the way for gender pay equity, leave to appeal the ruling. In October the Court of Appeal dismissed an appeal by Terranova Homes against an earlier Employment Court ruling backing Lower Hutt rest home worker Kristine Bartlett’s claim that …

The New Zealand dollar was little changed as activity ebbed in the lead-up to the Christmas-New Year break, when many local market participants tend to take holidays. The kiwi traded at 77.49 US cents at 5pm in Wellington from 77.58 cents at 8am and 77.47 cents on Friday in New York. The trade-weighted index declined to 78.53 from 78.83 last week. New Zealand’s currency …

NZ Directories Holdings, the owner of the Yellow directories service, is unlikely to be able to repay $500 million of notes next year and may be wound up, with the profitable operations poured into a new vehicle. The company recorded an operating profit of $48.6 million in the 12 months ended June 30, down from $56 million a year earlier. …

US start-up accelerator Y Combinator is investing in kiwi software start-up GlassJar which provides people an easy way of managing their flat finances.  Y Combinator president Sam Altman is currently in New Zealand with Scott Nolan, a partner in top Silicon Valley venture capital firm Founders Fund,  looking for potential investments and speaking at corporate events in Auckland and Wellington. Both …

Abano Healthcare, the listed healthcare investor, boosted first-half profit 51 percent on increased revenue from its dominant dental business and a turnaround at its unprofitable audiology businesses. Net profit after minorities rose to $3.5 million, or 16.89 cents per share, in the six months ended Nov. 30 from $2.3 million, or 12.56 cents, a year earlier, the Auckland-based company said in …

US Federal Reserve policy makers have helped renew optimism in global equities with their promise to be patient on raising interest rates, triggering a late Santa rally as Christmas approaches. Fed Chair Janet Yellen suggested the central bank will keep key rates near zero at least through the first quarter of 2015. That timetable helped lift Wall Street last week: …

Steel & Tube Holdings is considering its legal position after an interim judgment found in favour of Lewis Holdings’ $1.75 million claim over a disputed lease contract. In October, the Lower Hutt-based company denied any legal responsibility for losses relating to a contract lease between former subsidiary Stube Industries, which was liquidated last year, and Lewis Holdings. The interim judgment found in …

Britannia Financial Services, a UK pension transfer agency whose advertisements feature “financial motivator” Brendon Johnson, has tweaked its website and paused television advertising after the Financial Markets Authority raised concerns about people feeling “press ganged” into shifting retirement funds. The markets watchdog has raised concerns about some advertising which emphasises the need to transfer UK pensions before April 2015 to avoid incoming tax and …

Stuart McLean will join the executive team at Trade Me Group, the online auction site, after Xero, the cloud-based accounting firm, ditched his former role as chief revenue officer. The disestablishment of the chief revenue role comes after the Wellington-based software firm appointed Andrew Lark, former Commonwealth Bank of Australia executive as chief marketing officer, it said in a statement. …