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Cricket star Ross Taylor passed up early investment in Xero. By Dan Brunskill

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Vector appoints Beddoe as chief risk officer
Mon, 16 Jul 2012

By Hannah Lynch July 17 (BusinessDesk) - Vector, the Auckland gas, electricity and telecommunications networks owner, has appointed Kate Beddoe as chief risk officer, effective July 30. Beddoe previously worked as a risk manager for car manufacture Toyota and packing company,...

Metlifecare shares in trading halt for book build
Mon, 16 Jul 2012

By Hannah Lynch July 17 (BusinessDesk) - Metlifecare, the retirement village operator, has placed its shares in a trading halt while a sell-down by the company's biggest shareholder, Retirement Villages New Zealand, is completed. The book build will satisfy the last condition o...

GPG accepts haberdashery ruling, sells stake in another British brewer
Mon, 16 Jul 2012

By Paul McBeth July 17 (BusinessDesk) - Guinness Peat Group, the investment company winding up its portfolio, won't make any further appeal over a European General Court decision that imposed a 110 million euro fine, and separately sold out of its third British brewer this year....

PGC repays $22M in bank debt from asset sales, will give strategy update this week
Mon, 16 Jul 2012

By Paul McBeth July 16 (BusinessDesk) - Pyne Gould Corp, whose Perpetual Trust unit is being investigated by the market watchdog, will repay $22 million in bank debt after selling down the bulk of its stakes in Heartland New Zealand and PGG Wrightson last week. The Christchurc...

NZ dollar rises ahead of CPI as traders mull weak US retail sales, IMF view
Mon, 16 Jul 2012

By Jonathan Underhill July 17 (BusinessDesk) - The New Zealand dollar gains before figures expected to show inflation is tame enough to rule out any immediate increase in interest rates and as traders digested weaker US retail sales and a cut to forecast global growth by the Int...

While you were sleeping: US retail sales disappoint
Mon, 16 Jul 2012

By Margreet Dietz July 17 (BusinessDesk) - Wall Street fell as US retail sales declined for a third straight month, while the International Monetary Fund reduced its forecasts for worldwide growth. The global economy will expand 3.9 percent next year, which is down from the 4.1...

Chicken producer Inghams Enterprises appoints Investec to find buyer
Mon, 16 Jul 2012

By Paul McBeth July 16 (BusinessDesk) - Inghams Enterprises, Australia's biggest poultry producer, has appointed Investec Bank to find a buyer for its business. The 94-year-old company's sold shareholder Bob Ingham has decided to sell the business, Inghams said in a statement....

Chicken producer Inghams Enterprises hires Investec to find buyer
Mon, 16 Jul 2012

By Paul McBeth July 16 (BusinessDesk) - Inghams Enterprises, Australia's biggest poultry producer, has hired Investec Bank to find a buyer for its business. The 94-year-old company's sole shareholder Bob Ingham has decided to sell the business, Inghams said in a statement. Inv...

MARKET CLOSE: NZ shares fall, paced by Telecom, Chorus, Fletcher
Mon, 16 Jul 2012

July 16 (BusinessDesk) - New Zealand shares extended their slide from a two-month high, paced by the biggest companies on the bourse, Telecom, Chorus and Fletcher Building, as offshore investors lightened their NZX holdings. The NZX 50 Index fell 28.07 points, or 0.8 percent, t...

NZ dollar little changed before CPI report seen as benign, Bernanke testimony looms
Mon, 16 Jul 2012

By Paul McBeth July 16 (BusinessDesk) - The New Zealand dollar was little changed from the close of trading last week ahead of tomorrow's consumer price index, which is expected to show benign inflation in the second three months of the year. The kiwi traded at 79.61 US cents...

NZ’s main centres shine in otherwise gloomy trading for SMEs
Mon, 16 Jul 2012

By Hannah Lynch July 16 (BusinessDesk) - Auckland, Wellington and Christchurch have topped an otherwise gloomy trading outlook for New Zealand's small to medium size enterprises, according to MYOB's July business monitor. On a regional basis, 36 percent of Auckland SMEs expec...

Court orders liquidation of Hubbard-financed Papamoa property development
Mon, 16 Jul 2012

By Paul McBeth July 16 (BusinessDesk) - The High Court at Timaru has appointed liquidators to a Papamoa property development over some $2.5 million owed to the frozen Aorangi Securities. Associate Judge Rob Osborne appointed Kenneth Brown and Paul Manning of RHB Chartered Acco...


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