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Hoyts Buys Auckland's Berkeley Cinemas

Wellington, March 17 NZPA - Hoyts Corp is buying Auckland-based Berkeley Cinema Group from Everard Entertainment for an undisclosed sum, increasing its presence in Auckland.

Nz Superfund Makes Positive Return In February

Wellington, March 17 NZPA - The New Zealand Superannuation Fund produced a 1.88 percent return in February even though the value of its holding in Telecom fell.

Powerco To Repay $100m Subordinated Bonds

Powerco To Repay $100m Subordinated Bonds
Wellington, March 17 NZPA - Gas and electricity distributor Powerco is to repay $100 million of subordinated bonds which mature next month, with its two shareholders injecting new equity into the business.

Speirs Group Wears Interim Loss As Start-Up Continues

Speirs Group Wears Interim Loss As Start-Up Continues
Wellington, March 16 NZPA - Speirs Group said its first-half net loss worsened to $1.2 million as the company sought to improve its position within the fresh and functional foods industries.

Air NZ Ups Domestic Capacity Ahead Of 2011

Air NZ Ups Domestic Capacity Ahead Of 2011
Wellington, March 16 NZPA - Air New Zealand will lift domestic capacity by more than 10 percent next year to meet expected increased demand, in part due to the Rugby World Cup.

David McEwen Consulting For Huljich Wealth Management

David McEwen Consulting For Huljich Wealth Management
Wellington, March 16 NZPA - Huljich Wealth Management has appointed Investment Research Group (IRG) chief investment officer David McEwen as an external consultant to its investment committee.

Southern Travel Holdings Half Year Revenue Down 27.5 Pct

Southern Travel Holdings Half Year Revenue Down 27.5 Pct
Wellington, March 16 NZPA - Travel and tourism services company Southern Travel Holdings reported a $538,000 half year loss as it confronted the global financial crisis, impacts of swine flu, and foreign exchange movements.

"Significant" Improvement In Marsden Pt Refinery Margins

"Significant" Improvement In Marsden Pt Refinery Margins
Wellington, March 16 NZPA - Refinery margins at Marsden Pt showed "significant" improvement in the first two months of 2010, after starting to show some recovery in December, the New Zealand Refining Company says.

Bay Bee Cino Parent In Administration

Bay Bee Cino Parent In Administration
Wellington, March 16 NZPA - A Sydney-based babywear company Bay Bee Cino has been placed in administration, just three years after undertaking a capital raising and unveiling plans to grow aggressively through franchising.

McDouall Stuart Switches Status At NZX

Wellington, March 15 NZPA - Sharebroker McDouall Stuart Securities Ltd says it wants to drop its status as a participant in trading and settlement on the NZ stock exchange (NZX) and instead has applied to become an NZX advisory firm, surrendering its right to trade.

Engineers Worried At Supply Security With Wind Power

Wellington, March 15 NZPA - Engineers are warning that the need to provide back up for intermittent wind-generated electricity is emerging as a significant concern for maintaining supply when hydro lakes are low in dry years.

Receivers appointed to Strategic Finance

Receivers appointed to Strategic Finance
Wellington, March 12 NZPA - Strategic Finance Ltd is in the hands of receivers, against the wishes of its board, which regards the move as destructive.

Fonterra cuts short its string cheese, 35 jobs

Fonterra cuts short its string cheese, 35 jobs
Wellington, March 12 NZPA - Fonterra says it is discussing with key customers its plans to stop making cheese at Longburn near Palmerston North, which will axe the jobs of 35 workers.

Warehouse lifts first half net profit 17 pct to $57.4m

Wellington, March 12 NZPA - Retailer The Warehouse Group reported adjusted half year net profit edging ahead of last year while overall sales slipped slightly, and is expecting only gradual improvements in its market.

Fonterra to close cheese plant at Longburn

Fonterra to close cheese plant at Longburn
Wellington, March 12 NZPA - Fonterra plans to stop making cheese at its Longburn plant near Palmerston North, and says other jobs at the site will only be available for 15 of the 35 people being laid off.

Warehouse to offer $100m in bonds

Warehouse to offer $100m in bonds
Wellington, March 12 NZPA - Retailer The Warehouse Group is looking to raise $100 million in a fixed rate bond offer, with the funds being used to reduce existing bank debt and to finance the planned construction of new and replacement stores.

Morgan, Tindall, Drury Are Part Of Pacific Fibre Vision

Morgan, Tindall, Drury Are Part Of Pacific Fibre Vision
Wellington, March 11 NZPA - Businessmen Sam Morgan, Stephen Tindall and Rod Drury are part of "an early stage" venture to build a submarine fibre cable between Australia, New Zealand and the United States, with five times the capacity of the existing Southern Cross system.

Infratil To Build A New Zealand Business From Shell Assets

Infratil To Build A New Zealand Business From Shell Assets
Wellington, March 11 NZPA - Infratil sees the Shell New Zealand assets it is currently negotiating to buy as an opportunity to create a substantial New Zealand business at a time of growing consumer preference for local companies.

Morgan, Tindall, Drury Are Part Of Pacific Fibre Vision

Morgan, Tindall, Drury Are Part Of Pacific Fibre Vision
Wellington, March 11 NZPA - Businessmen Sam Morgan, Stephen Tindall and Rod Drury are part of "an early stage" venture to build a fibre cable between Australia, New Zealand and the United States, with five times the capacity of the existing Southern Cross system.

Graeme Hart Ranks 144th In Forbes' Billionaires List

Graeme Hart Ranks 144th In Forbes' Billionaires List
Wellington, March 11 NZPA - New Zealand businessman Graeme Hart ranks 144th in Forbes' annual list of billionaires with an estimated net worth of $US5.3 billion ($NZ7.56 billion). Forbes describes Mr Hart as a self-made businessman who made his money from investments.

Lanzatech Says Good News Likely In China

Lanzatech Says Good News Likely In China
Wellington, March 11 NZPA - Biofuel entrepreneur LanzaTech says it has attracted interest from China in its technology, which was last September used in a pilot plant at the New Zealand Steel works to convert waste gas into high-octane ethanol.

GE Money NZ Boss Appointed To Head Office Role

GE Money NZ Boss Appointed To Head Office Role
Wellington, March 10 NZPA - GE Money's New Zealand boss Greg White is an Australian executive returning to a big job at head office positive about his time in this country and his company's future here.

Wakefield Health Expands Into Bay Of Plenty

Wakefield Health Expands Into Bay Of Plenty
Wellington, March 10 NZPA- Wakefield Health Ltd, operator of Wakefield Hospital in Wellington, is expanding into the Bay of Plenty, via a deal with an owner of Grace Hospital in Tauranga.

New Range Of F&P Sleep Apnea Devices Well Received

New Range Of F&P Sleep Apnea Devices Well Received
Wellington, March 10 NZPA - Fisher & Paykel Healthcare Ltd said its new ICON continuous positive airway pressure devices for treating obstructive sleep apnea have been well received in the New Zealand and Australian markets.

Kiwibank Signals $150 Million Retail Capital Raising

Kiwibank Signals $150 Million Retail Capital Raising
Wellington, March 10 NZPA - State-owned Kiwibank is signalling it will raise up to $150 million through the sale of perpetual preference shares, which are effectively bonds, to the public.

Job Ads Rise On Seek, But Applications Up Even Faster

Job Ads Rise On Seek, But Applications Up Even Faster
Wellington, March 10 NZPA - New job advertisements placed on the website of employment company Seek reached the highest level for a year in February. The 12,700 new ads last month were the most since January 2009, Seek New Zealand general manager Annemarie Duff said.

False Sense Of Kiwisaver Security: Survey

False Sense Of Kiwisaver Security: Survey
Wellington, March 10 NZPA - A new survey shows many KiwiSaver members have a false sense of security about their investments, research company UMR says.

NZ Wholesale Funding Guarantee To End April 30

NZ Wholesale Funding Guarantee To End April 30
Wellington, March 10 NZPA - The Government is to close New Zealand's wholesale funding guarantee on April 30, Finance Minister Bill English says.

Takeovers Panel To Investigate Horizon Energy

Takeovers Panel To Investigate Horizon Energy
Wellington, March 9 NZPA - The Takeovers Panel is investigating electricity network company Horizon Energy Distribution after a request by Marlborough Lines Ltd, which failed in an attempted takeover in September.

Six Start-Ups Get Quick Pitch For $70,000 Prize

Wellington, March 9 NZPA - Six start-up companies offering very different services will compete for a prize worth over $70,000 on Saturday, during the two-day Planet 2010 communications and technology conference in Auckland.

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