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News in Brief

News in Brief

Infratil's Vodafone purchase wins INFINZ awards
Staff reporters | Wed, 21 Oct 2020

Craigs analyst Stephen Ridgewell, Forsyth Barr, Milford Asset Management and Fisher Funds also took out Infinz awards

NZX and EEX to provide emissions auctions for NZ government
Rebecca Howard | Wed, 21 Oct 2020

Auctioning in the NZ Emissions Trade Scheme moves one step closer.

Metlifecare takeover gets court approval
Victoria Young | Tue, 20 Oct 2020

Metlifecare shareholders who do not wish to participate in the share scheme must sell before the close of trading on Oct. 23.

PGG Wrightson back to dividends in early 2021
Staff reporters | Tue, 20 Oct 2020

Rural services group PGG Wrightson expects to bounce back from a weak second half of the 2020 financial year and resume paying dividends on the strength of horticulture and real estate rebounds.

V-shaped recovery in prospect: QSBO
Rebecca Howard | Tue, 20 Oct 2020

Improving business sentiment supports the New Zealand Institute of Economic Research’s expectations for a V-shaped recovery in economic activity.A net 1 percent of businesses reported an increase in their own trading activity – a turnaround from the net 37 percent reporting a dec...

Greymouth wins costs in exploration bid complaint
Staff reporters | Mon, 19 Oct 2020

Greymouth Petroleum has won costs from the Crown over NZ Petroleum & Minerals’ handling of an offshore exploration permit the company sought in 2017.The government had already agreed the declined application should be reheard. But the company, operator of the onshore Kowhai and T...

Service sector activity expanding but job losses continue
Rebecca Howard | Mon, 19 Oct 2020

Activity in New Zealand’s services sector expanded slightly in September, according to the BNZ - BusinessNZ Performance of Services Index.The PSI for September was 50.3, which was up 3.1 points from August.“September’s 50.3 reading is still a subdued result, even if it is back on...

Truscreen tech success in Chinese cancer trials
Staff reporters | Mon, 19 Oct 2020

Truscreen Group has announced its cervical cancer screening technology has produced encouraging results in the second phase of preliminary trials in Sichuan Province, China.Truscreen’s medical device picks up electrical and optical signals to deliver fast results that don't r...

Air NZ to operate first quarantine free flight to Australia
Staff reporters | Thu, 15 Oct 2020

Air New Zealand will operate its first flight as part of the Safe Travel Zone with New South Wales tomorrow.The Safe Travel Zone is a one-way arrangement. People returning to New Zealand will still need to quarantine for 14 days upon return, provide payment for quarantine and reg...

Sylvia Park officially opens extension
Staff reporters | Thu, 15 Oct 2020

Kiwi Property Group has opened its extension at the Sylvia Park mall in Auckland.The listed property company said the $277 million expansion boosts the number of stores to more than 250 and has added a Farmers to its range of outlets.The mall is now 20,000 square metres and has 5...

Lewis Road Creamery sold
Staff reporters | Thu, 15 Oct 2020

Southern Pastures is now the owner of premium milk company Lewis Road Creamery.The dairy investor, which owns and operates farms in Waikato and Canterbury, already owned 50 percent of Lewis Road. Lewis Road founder Peter Cullinane said the sale was a “fantastic conclusion” to a j...

FMA bill a 'missed opportunity,' Fidelity Life says
Staff reporters | Wed, 14 Oct 2020

The failure to address high upfront commissions in the Financial Markets Amendment Bill was a "missed opportunity" and it was now unlikely anyone will reduce commissions and risk losing market share, says Fidelity Life chair Brian Blake.Blake said the industry as a whole hadn&#39...

IkeGPS shares jump 21% on US deal
Staff reporters | Wed, 14 Oct 2020

Precision measuring software firm IkeGPS’s share price jumped 21.1 percent to all-time high of $1.09 on news of a potentially significant new commercial relationship with a major US-based utilities company.The deal will see a north-eastern utilities provider with annual revenues...

Metroglass refinances and reduces loans as debt falls
Staff reporters | Wed, 14 Oct 2020

Metro Performance Glass has refinanced its syndicated banking facilities, extending the term by two years and reducing its size by nearly 30 percent as net debt levels continue to fall.The company said the facility size has fallen to $85 million, including a $10 million stand-by...

Card spending bounce less than expected
Staff reporters | Tue, 13 Oct 2020

Total retail electronic card spending rose a seasonally adjusted 5.4 percent in the month of September as Auckland rebounded from its second lockdown.The result disappointed economists who had expected a bounce closer to 10 percent, but still showed a resilient recovery from the...

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