13 March 2002 The food price index fell 0.5% from January to February — fresh vegetables were up 15% in January and specials on Valentine’s Day chocolates helped cut February grocery prices 10%. But over the year from February 2001, the food price index rose 4.5%. Meat, fish & poultry were up 11.2%, Statistics NZ […]
Read more →Archive - local business
Snapshot on local business, week to 8 April 2001
Latest: Auckland City supports Government move on rail, Hellaby cornerstone for new insurer, Steel & Tube positions to buy Fletcher Steel, Force changeover, Savoy loss snipped to $76.7m, Manukau growth at 7.8%. 7 April 2001 Auckland City Council said on Thursday it supported in principle the Government’s offer to take over negotiations with Tranz Rail […]
Read more →Snapshot on local business, week to 23 December 2001
18 December 2001 Singapore Changi Airport Enterprises Pte Ltd has sold its 7.14% stake in Auckland International Airport Ltd through a bookbuild to local investors & international institutions for $107.7 million, at $3.58/share, an 11c discount to the day’s opening price & 8c on the close. Singapore Changi bought its stake in November 1999. The […]
Read more →Snapshot on local business, week to 20 July 2003
17 July 2003 Auckland City Council’sfinance & corporate business committee wants the Ministry of Economic Development to amend the Securities Act to overcome dissenting councillors’ votes preventing the issuing of a prospectus, as happened when the council majority wanted to offer half the council stake in Auckland International Airport Ltd to small investors. The proposal […]
Read more →Snapshot on local business, week to 13 October 2002
12 October 2002 Auckland deputy mayor David Hay issued a happy press release marking the first year of the present council’s term: “Looking back critics may say it has been a rocky road but in reality it has been an incredibly positive year for council and the city. In all my years in local government […]
Read more →Snapshot on local business, week to 7 October 2001
5 October 2001 Arthur Andersen Corporate Finance has been appointed to appraise Logan Corp Ltd’s full takeover for Pacific Retail Group Ltd. Steel & Tube Holdings Ltd and Australian joint venture partner One Steel Ltd have agreed to sell the Canadian steel distribution business of AJ Forsyth & Co Ltd to Russel Metals Inc of […]
Read more →Snapshot on local business, week to 15 December 2002
13 December 2002 The Auckland Regional Council has extended the period for submissions on variations 2-6 of the proposed Auckland regional coastal plan to 31 January. The variations, notified on 29 October, are to define aquaculture marine areas and develop a policy framework to manage development in those areas. 11 December 2002 Port of Tauranga […]
Read more →Snapshot on local business, week to 9 November 2003
7 November 2003 The Warehouse Group Ltd increased 1st-quarter sales by 12.1% (for the 13 weeks to 2 November) to $483 million. Red Shed sales rose 9.9%, same-store 7.2%, Warehouse Stationery sales rose 23.5%, same-store (excluding B2B) 11%. The Warehouse Australia’s sales rose 16.4%, same-store 1.1%, in local money. Founder & acting managing director Stephen […]
Read more →Snapshot on local business, week to 22 December 2002
16 December 2002 KFC fastfood chain owner Restaurant Brands NZ Ltd will switch chicken suppliers in 2004, from the Tegel division of HJ Heinz to Inghams. “We currently spend about $40 million a year on chicken and changing suppliers will reduce the company’s costs by $5 million-plus each year for the 7-year term of the […]
Read more →Snapshot on local business, week to 3 November 2002
3 November 2002 ASB Capital Ltd, part of ASB Bank Ltd, will issue up $150 million of perpetual preference shares, with a right to accept oversubscriptions of $50 million, carrying a dividend for the 1st year of the greater of 7.4% & the 1-year interest rate swap rate plus a 1.3% margin, and a dividend […]
Read more →Snapshot on local business, week to 29 July 2001
Latest: New Mainstreet policy. 24 July 2001 Auckland City has adopted a new policy to make operation of Mainstreet programmes consistent. Fifteen operate in Auckland City. They’re funded through a separate rate and are a partnership between the council, businesses and local communities.
Read more →Snapshot on local business, week to 23 March 2003
22 March 2003 Savoy Equities Ltd will make a $514,000 renounceable 1:2 rights issue of 51.4 million new shares at 1c/new share & 1:4 issue of 25.7 million attached options to buy a share at 10c by 30 June 2005. The rights won’t be quoted because of cost. The 1st 2 stations of the $56 […]
Read more →Snapshot on local business, week to 25 January 2004
22 January 2004 Fletcher Challenge Forests Ltd’s special shareholder meeting to consider the proposal to sell its forest assets to a consortium led by the Kiwi Forest Group, and to return capital to shareholders, will be held on Friday 20 February at 10am in the ASB Bank Stand, Eden Park. Details on the company website: […]
Read more →Snapshot on local business, week to 24 March 2002
24 March 2002 Hearings on the North Shore busway have been completed, involving 13 notices of requirement for land designation & 24 resource consents. Key target dates now are for Transit NZ & North Shore City Council to notify their decisions in May on the commissioner’s recommendations concerning land designation, the Environment Court to hear […]
Read more →Snapshot on local business, week to 22 April 2001
Latest: Air NZ improves passenger load factor, official cash rate 4.5%, CPI down 0.2% in March quarter, AMP raises Hallenstein Glasson stake, Richina sells Mair Venison to Howard Paterson. 19 April 2001 Air New Zealand improved its passenger load factor 0.2% to 70.9% in February (over February 2000), revenue passenger kilometres flown (RPK) 1.9% to […]
Read more →Snapshot on local business, week to 11 November 2001
10 November 2001 Retail sales rose 0.7% from August to September on a seasonally adjusted basis, though department store sales fell 3.4%. September quarter sales rose 1.1% over the June quarter. Taking out price changes, September sales volumes fell 3.8%, after an 8.5% fall in August. Actual September quarter department store sales rose 4.6% on […]
Read more →Snapshot on local business, week to 6 July 2003
30 June 2003 Gross domestic product rose 0.6% in the March quarter, on top of 0.8% in December and 0.9% in September. Statistics NZ said the economy grew by 4.3% in the March 2003 year. Exports rose 1.6% and imports fell 0.7% in the March quarter. Meat export volumes rose 12.1%, dairy exports fell 4% […]
Read more →Snapshot on local business, week to 27 October 2002
22 October 2002 The Securities Commission has banned advertising for 3 futures contract programmes run by Investment Programme Management Inc, which is registered in Belize, Central America, and has offices in Malaga, Spain. Advertising for the scheme has been distributed in Auckland & Hamilton by a few financial planners. The commission said the scheme had […]
Read more →Snapshot on local business, week to 18 November 2001
Items on Local Business this week: Don chops off another finger 18 November 2001 One main item of business news this week, and it was known before it happened: the interest rate cut supposedly to regulate our economy, but factored in along with every other economic commodity. The system has lost its purpose, with no […]
Read more →Snapshot on local business, week to 12 January 2003
8 January 2003 The Auckland Regional Council has added some detail to its proposal in December to charge rates on the basis of capital value (Snapshot on local business 8 December 2002), plus targeted rates for public transport and biosecurity. The council will open its draft funding & rating policies to public consultation & submissions […]
Read more →