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21 May 2024

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Spotless extends offer for Taylors
Spotless Group extended its offer for the remaining shares in Taylors Group by two weeks, reflecting slow uptake from minority shareholders in the listed laundry business

Stocks to watch: FPA, Infratil, NZX, PGC, Telecom
The following stocks may be active on the New Zealand exchange after developments since the close of trading yesterday

Telco service levy up by $10.7m
The Commerce Comission has increased the telecommunication service obligations levy for the 2007-2008 year to $72.1 million, compared with $70.7 million in its draft determination — a $10.7 million increase over the previous year.

Forum leaders to look at trade
Some heavy hitters are lined up for the first gathering of New Zealand and American government and business elite since the change of administration in Washington.

Wall St workers expect increase in bonuses this year
More than a third of Wall St finance professionals surveyed expect their bonuses to increase for 2009, a year after the credit-market collapse that some regulators say was fuelled by outsized pay packages, eFinancialCareers.com found.About...

Challenges dampen rosy outlook for tourism industry
Tourism businesses are cautiously optimistic, but many say life is still too uncertain to call an end to the challenges facing the industry just yet.The Tourism Industry Association yesterday held its first leaders summit in Wellington...

NZX adds electronic grain trader to growing portfolio
NZX is buying loss-making entrant to the A$10 billion ($12 billion) Australian grain market Clear Grain and associated operations for A$6.4 million.NZX chief executive Mark Weldon says the purchase of the technologically savvy...

Fonterra online auction extends gains for third straight month
The price of milk powder extended its gains for the third straight month in Fonterra Cooperative Group’s online auction as demand for dairy products consolidates after crumbling earlier this year

Dollar holds after RBA hikes rates
The New Zealand held above 73 US cents after the Reserve Bank of Australia became the first G-20 nation to begin tightening monetary policy and prices rose for a third straight month in Fonterra’s online milk powder auction

Can't keep the kiwi down
The Kiwi dollar has got itself reasonably solidly consolidated above the US 70 cent mark over the past few weeks and unless something truly unexpected happens it seems highly likely we will eventually get back to the US82 cent level reached in March last year.

Superyacht builder's creditors face two-month wait
Creditors of superyacht builder Ivan Erceg will have to wait at least two more months to find out whether he will be bankrupted.The owner of failed Sensation Yachts avoided a bankruptcy order yesterday when Associate High Court...

More firms blame constraints on finance
A quarterly survey of business opinion has recorded a jump in the proportion of firms citing finance as the single biggest constraint on increasing production or activity.As always, the proportion citing sales as the biggest constraint...

Blue Chip lawyer now bankrupt
Jonathan Mathias, the Auckland lawyer found wanting over his advice to Blue Chip victims Bruce and Judy Bartle, is bankrupt.Last week in the High Court Justice Tony Randerson ruled that Mathias failed in his duty of care to the...

Empty wallets keep Kiwis at home
Money worries are the main reason stopping New Zealanders from travelling more within their own country, new research has found.The first Mood of the New Zealand Traveller survey was released yesterday at a tourism symposium in...