Allbirds expands to Canada amid global demand

Article – BusinessDesk

March 30 (BusinessDesk) – Allbirds, the sustainable footwear company co-founded by former New Zealand soccer star Tim Brown, has expanded into Canada, its fourth global market. Read more »

Bank of China impairs $33m loan in annual report, likely CBL

Article – BusinessDesk

March 29 (BusinessDesk) – Bank of China New Zealand’s unit included a $12 million provision for impairment losses linked to one loan in its latest disclosure statement for the year to Dec. 31 after reports it lent 19.5 million euros to CBL Corp, currently … Read more »

MARKET CLOSE: NZ shares drop, A2 falls on Nestle competition

Article – BusinessDesk

MARKET CLOSE: NZ shares drop, A2 falls on Nestle competition, Fletcher sinks while Sky TV bounces Read more »

NZ dollar heading for 1.6% quarterly gain

Article – BusinessDesk

March 29 (BusinessDesk) – The New Zealand dollar is heading for a 1.6 percent quarterly gain against the US dollar after a whippy three months that saw it around 5 percent higher at one stage as the greenback remained out of favour. Read more »

What big tobacco didn’t want you to read

Article – BusinessDesk

Philip Morris NZ’s redacted statement of claim: What big tobacco didn’t want you to read Read more »

RBNZ registers Bank of China to provide banking services

Article – BusinessDesk

RBNZ registers Bank of China to provide banking services in New Zealand as a branch Read more »

Hallenstein reports $15m 1H profit on strong Christmas sales

Article – BusinessDesk

March 29 (BusinessDesk) – Hallenstein Glasson Holdings has lifted its first-half dividend and says its two core brands, Glassons and Hallenstein Brothers, are in a strong position going into winter trading. Read more »

Overseas Investment Office clears Horizon Oil

Article – BusinessDesk

March 29 (BusinessDesk) – The Overseas Investment Office gave ASX-listed Horizon Oil International a green light to buy a 16 percent stake in the Maari and Manaia oil fields and joint venture assets off the Taranaki coast from Todd Corp. Read more »

Zespri on track for another lift in kiwifruit crop

Article – BusinessDesk

March 29 (BusinessDesk) – The New Zealand-grown kiwifruit crop is expected to be about 20 million trays or 70,000 tonnes higher than it was last year, Zespri Group, the country’s statutory kiwifruit exporter, said in a release. Read more »

T&G Global names new chief executive

Article – BusinessDesk

March 29 (BusinessDesk) – T&G Global named a new chief executive and chief operating officer to lead the fruit marketer, and said the acting chief executive will step down at the end of this month. Read more »

Real estate investors to lose tax loophole

Article – BusinessDesk

March 29 (BusinessDesk) – Investors and speculators will lose their ability to offset losses on residential properties to reduce their tax on other income from April 1 next year, if proposals in an Inland Revenue Department issues paper published today … Read more »

NZ building consents lift in February

Article – BusinessDesk

March 29 (BusinessDesk) – New Zealand residential building consents lifted in February bolstered by consents for new townhouses, flats, units, and apartments. Read more »

Rakon sells French property for 2.7M euro

Article – BusinessDesk

March 29 (BusinessDesk) – Rakon has sold its former manufacturing site in France for 2.7 million euros, as it continues to shift its manufacturing focus to India. Read more »

Fletcher Building lenders agree to extend waivers

Article – BusinessDesk

March 29 (BusinessDesk) – Fletcher Building gained a two-month extension to waivers from its US noteholders and bank syndicate that were granted after it breached lending covenants, suggesting the company wasn’t able to negotiate new terms by its March … Read more »

NZ dollar falls vs greenback on stronger US GDP data

Article – BusinessDesk

March 29 (BusinessDesk) – The New Zealand dollar fell against the greenback after US fourth-quarter economic growth was revised up and declined against the Aussie heading into the end of the first quarter. Read more »

While you were sleeping: Amazon weighs on Wall St

Article – BusinessDesk

March 29 (BusinessDesk) – Wall Street fluctuated with tech stocks as Amazon shares sank amid a report that US President Donald Trump wants to curtail the company. Read more »

MARKET CLOSE: A2 plunges on Nestle competition

Article – BusinessDesk

March 28 (BusinessDesk) – New Zealand shares dropped 1.4 percent with A2 Milk Co and Synlait Milk sold off over competition from Nestle in China, while Sky Network Television fell on news it likely won’t win the broadcasting rights for the 2019 … Read more »

Robertson unmoved by call to scrap ‘budget responsibility’

Article – BusinessDesk

March 28 (BusinessDesk) – Finance Minister Grant Robertson has been quick to rule out scrapping the government’s Budget Responsibility Rules after the Council of Trade Unions said today they were too restrictive to allow necessary investment in public … Read more »

Dollar holding firm against Aussie but may have topped out

Article – BusinessDesk

March 28 (BusinessDesk) – The New Zealand dollar remained firm against the Australian dollar as the outlook for iron ore continued to weigh on sentiment across the Tasman. Read more »

Business confidence up in March, remains lower post-election

Article – BusinessDesk

March 28 (BusinessDesk) – Business confidence increased in March on some measures, but most remain below the levels of six months ago. Read more »