15 May 2002 Fletcher Building Ltd has decided to cancel its American depositary receipt programme and to delist from the New York Stock Exchange from 14 June because the costs outweigh benefits. US investors can buy Fletcher stock directly through the New Zealand exchange. The company has also set up a facility for holders of […]
Read more →Archive - local business
Snapshot on local business, week to 27 May 2001
Latest: Warehouse bank, city stormwater project completed, Auckland City signs for next stage of rail show, bus improvements, emigration margin closes, Caltex seeks Challenge chain, Wells back as Savoy director. 25 May 2001 The Warehouse Group Ltd and WestpacTrust announced they had formed a joint venture, The Warehouse Financial Services Ltd, to provide retail financial […]
Read more →Snapshot on local business, week to 14 April 2002
11 April 2002 Ernst & Young keeps bouncing back as auditor for Property For Industry Ltd. Ernst & Young resigned from the job in April 2000 because it was the longstanding auditor of AMP Henderson Global Investors NZ Ltd, which took over management of PFI. Andersen was appointed to the job, but has now become […]
Read more →Snapshot on local business, week to 31 August 2003
29 August 2003 Among winners in the Westpac Enterprise North Shore business excellence awards announced last night, Hillside Building Supplies won the AC Blackmore service award, Eco Insulation won the Telecom Local Directories emerging business award, and the Spencer on Byron Hotel won the North Shore City Council’s 1st tourism award. 28 August 2003 Auckland […]
Read more →Snapshot on local business, week to 4 August 2002
30 July 2002 The Port of Tauranga has recorded its best trading year as volume for the June 2002 year rose 11% to 11.4 million tonnes. Container traffic rose 12.5%, helped by a 9% rise in dairy product volumes. Log exports rose 15%, sawn timber 18%, combined forestry products 7%. Grain imports doubled after Goodman […]
Read more →Snapshot on local business, week to 25 March 2001
Latest: Colonial lifts stake in Sky, Fletcher separation complete. 25 March 2001 Colonial First State Investment Managers NZ Ltd has lifted its stake in Sky City Ltd from 14.5% last September to 18.92% on Thursday. 24 March 2001 Trading in Fletcher Challenge Building and Energy division shares ended on Friday. The new Fletcher Building and […]
Read more →Snapshot on local business, week to 2 February 2003
29 January 2003 New Zealand’s December deficit of $299 million (merchandise imports of $2.669 billion over exports of $2.37 billion) was 12.6% of exports & higher than usual. The provisional value of merchandise imports for the year was $32.355 billion, up 2.1%. Statistics NZ said the dollar rose 4.8% from the September quarter to December […]
Read more →Snapshot on local business, week to 3 August 2003
2 August 2003 North Shore City mayor George Wood has welcomed an Environment Court decision giving the city’s Busway project the go-ahead, but warned that a new government review requirement could still hold work back. The court confirmed all the necessary designations related to the $200 million 8.5km Busway. The council has begun building 2 […]
Read more →Snapshot on local business, week to 20 April 2003
18 April 2003 Foodland Australia Ltd, Perth-based owner of New Zealand’s Progressive Enterprises and Farmer’s retail chains, has delisted from the New Zealand Stock Exchange. It had 4 shareholders here. They’ll be transferred to the NZ registry. 16 April 2003 Voting for a mainstreet programme fell short of the required 60% in Pt Chevalier and […]
Read more →Snapshot on local business, week to 28 January 2001
Latest: Infratil target bought 30% above book value as income falls, Carter Holt earnings up but outlook gloomy. 28 January 2001 Infratil NZ’s purchase, through a consortium, of Glasgow Prestwick International Airport from Stagecoach Group for a total £33.4 million ($NZ112 million) sounds promising — if the New Zealand-listed infrastructure investor can explain what it […]
Read more →Snapshot on local business, week to 16 September 2001
16 September 2001 Brierley Investments Ltd and Singapore Airlines will spend $150 million each increasing their equity stakes in Air New Zealand to 37% and 34% respectively, by investing in new shares at 67c instead of the $1.31 previously intended price for a Singapore Airlines stake increase. If the price falls the stakes increase. The […]
Read more →Snapshot on local business, week to 25 May 2003
23 May 2003 Air NZ Ltd increased traffic (measured by rpks – revenue passenger kilometres) by 5% in April over April 2002 on capacity (asks – available seat kilometres) up 13.7% for a 5.7-point fall in passenger load factor. Capacity was cut by 7% for May and 11% for June. For the 10 months to […]
Read more →Snapshot on local business, week to 9 June 2002
4 June 2002 The Auckland regional land transport committee is preparing a 10-year implementation plan ranking all major transport projects — roads & public transport infrastructure — which will be attached to the regional land transport strategy, become a statutory document and be subject to annual updating. The startup list shows $5.9 billion for roads, […]
Read more →Snapshot on local business, week to 3 June 2001
Latest: Deka sale off, Fletcher can buy Carter doors business, Metlifecare cuts inventory and focuses on operations, PDL shifts commodity manufacturer offshore, July decision on rapid transit option, paper on takeover scrip offers, warning to forestry scheme promoters, Securities Commission looks at trustees’ role, Qantas moves on Air NZ, public transport innovation tenders. 2 June […]
Read more →Snapshot on local business, week to 21 April 2002
15 April 2002 Auckland City Council’s transport committee has recommended that public consultation begin on extending the bus priority network into Karangahape Rd, Khyber Pass Rd & Broadway, with a report back to the committee in June. Fletcher Building Ltd will apply to the Australian Stock Exchange to convert its listing from a foreign exempt […]
Read more →Snapshot on local business, week to 7 September 2003
6 September 2003 Merchandise exports fell 8.8% in July from July 2002 to $2.325 billion, according to revised figures. Statistics NZ said main contributors to the fall were logs, wood & wood articles, fruit, petroleum & petroleum products. The July trade deficit was $456 million, 19.6% of exports. The $29 billion of exports for the […]
Read more →Snapshot on local business to July 2000
The SNAPSHOTS series is designed to keep you abreast of events without providing much detail. This series is organised into property and more general business news, locally and internationally. 26 July 2000 UnitedNetworks said today it would install, own and manage underground fibre optic networks in the Auckland and Wellington cbds, as the first stage […]
Read more →Snapshot on local business, week to 11 August 2002
8 August 2002 Acting transport minister Judith Tizard & Australia’s transport minister, John Anderson, signed the 2 countries’ open skies air services agreement in Auckland today, formalising a memo of understanding signed in November 2000 and incorporating the single aviation market arrangements signed in 1996. The agreement was a key component of Air New Zealand’s […]
Read more →Snapshot on local business, week to 1 April 2001
Latest: Cargo shift to Tauranga, Pacific Retail does jig, Savoy suspended, Rubicon opens at half asset value, Carter buys Tasman kraft, current account deficit improves. 29 March 2001 Fesco NZ Express Line will make Tauranga the sole North Island port of call for its weekly Far East service, which the Port of Tauranga company expects […]
Read more →Snapshot on local business, week to 9 February 2003
6 February 2003 Wellington International Airport Ltd confirmed yesterday it would raise charges to the airlines by an average 77.7%, which it said would amount to an extra $4 on a 1-way journey. Chief executive John Sheridan said it was the airport’s 1st fee rise in 5 years and was needed to cover the $116 […]
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