Guide2.co.nz - Business News Feed

Receivers appointed to Strategic Finance

Fri, 12 Mar 2010 19:18:00 +1300

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

Fri, 12 Mar 2010 18:16:00 +1300

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

Fri, 12 Mar 2010 14:46:00 +1300

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

Fri, 12 Mar 2010 13:28:00 +1300

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

Fri, 12 Mar 2010 09:52:00 +1300

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

Thu, 11 Mar 2010 19:20:00 +1300

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

Thu, 11 Mar 2010 18:50:00 +1300

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

Thu, 11 Mar 2010 16:18:00 +1300

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

Thu, 11 Mar 2010 13:52:00 +1300

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

Thu, 11 Mar 2010 07:52:00 +1300

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.