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Build of new trans-Tasman cable to start early 2015

The three telecommunications companies planning to build a new 2,300km submarine cable between New Zealand and Australia have today confirmed their investment and a commencement of the project in early 2015.

Arvida completes $80 million IPO

Shares of Arvida Group Limited (Arvida, the Company) today began trading on the NZX Main Board following a successful IPO that raised $80 million in new capital to underpin the growth of the new retirement and aged care group.

Second clearance application made to buy Acurity Healthcare

The Commerce Commission has received a second application from Connor Healthcare Limited seeking clearance to acquire all of the shares that it does not currently own in Acurity Health Group Limited.

Unauthorised electrical workers fined for unsafe work

The Electrical Workers Registration Board (EWRB) has successfully taken action against another eight individuals or companies for undertaking unauthorised electrical work in contravention of the Electricity Act 1992.

Jetstar adds Melbourne to its Wellington network

Jetstar will more than double its international Wellington services when it begins new flights to the capital from Melbourne in March 2015.

NZ Airports welcomes SMART Approaches announcement

New Zealand Airports Association (NZ Airports) has welcomed the announcement that SMART Approaches satellite-based navigation technology will come into use at Auckland Airport next year.

FMA closes South Canterbury Finance inquiries

The Financial Markets Authority (FMA) has closed its inquiries into potential civil claims relating to South Canterbury Finance Limited (SCF). After careful consideration the FMA has decided not to take any further action.

Comvita completes capital raising

Comvita Limited (NZX:CVT) today announces the successful completion of its 1 for 5 pro-rata Renounceable Rights Offer. The Shortfall Bookbuild, of new shares attributable to the rights of shareholders who did not participate, was conducted on 16 December and priced at $3.80 per share.

ComCom files criminal proceedings against finance companies

The Commerce Commission has filed criminal proceedings in Auckland District Court against finance companies Budget Loans Limited and Evolution Finance Limited, alleging their repossession and debt recovery practices breached the Fair Trading Act.

Zespri forecasts record grower returns

Record per-hectare returns for Green and Organic Green are forecast this season as a combination of supply constraint, favourable market conditions and strong end-of-season sales leads to increased Zespri grower returns across all categories.

Canstar releases credit card star ratings report

This is the time of year when the plastic in our pocket gets a workout. Last December, according to RBNZ statistics, Kiwis collectively spent $3.37 billion on their credit cards, a full $430 million more than was spent in November.

Dairy cattle total rises to 6.7 million

The number of dairy cattle in New Zealand continued to rise, to reach 6.7 million at the end of June, Statistics New Zealand said today. "Generally good pastoral conditions since the previous June contributed to the increase," agriculture manager Neil Kelly said.

Comvita completes first stage of renounceable rights offer

Comvita Limited has completed stage one of its 1 for 5 renounceable rights offer with shareholders exercising 5.6 million rights.

Car importer/distributor to get behind new airline

New Zealand’s largest used imported car dealership has announced it’s joining a consortium to set up a regional airline to service routes to be discarded by Air New Zealand.

VMob chases offshore growth with NZTE support

Internationally-awarded New Zealand mobile marketing company VMob (NZAX: VML) is set to accelerate its expansion into key global markets including the US and Japan even further with the support of co-investment from New Zealand Trade and Enterprise (NZTE), which will be spread over three years.

NZITF releases guidelines on coordinated disclosure

The New Zealand Internet Task Force (NZITF) has released guidelines on how New Zealanders and NZ companies can implement coordinated disclosure.

Farm automation businesses to merge

LIC is merging its farm automation and milking sensor businesses to deliver more integrated technology and meet demand from farmers. The co-op’s Protrack business will transfer into subsidiary Dairy Automation Limited (DAL) in 2015.

Auckland Airport welcomes Air NZ's new Buenos Aires service

Air New Zealand has announced today that it will begin flying direct to South America in December 2015 for the first time in the airline’s history.

Chatham Rock Phosphate marine consent decision due by 30 Jan

A decision on Chatham Rock Phosphate’s marine consent application is expected to be announced on or before 30 January 2015. The Decision-making Committee hearing CRP’s application today officially closed the hearing.

Commission grants clearance for pharmaceutical merger

The Commerce Commission has granted clearance to Mylan Inc. to acquire the Established Pharmaceuticals Division of Abbott Laboratories, Inc.

Watch your limit this Christmas - Banking Ombudsman

Banking Ombudsman Deborah Battell is urging people spending up this Christmas to be sure they stick within their credit card limits and make sure they keep their cards safe.

Aotearoa Fisheries Group reports $21.9m profit

Aotearoa Fisheries Limited, one of New Zealand’s largest fishing companies, has reported a consolidated profit of $21.9 million for the year ended 30 September 2014.

Local authorities' operating deficit increases

Local authorities’ operating deficit increased in the September 2014 quarter compared with the previous quarter, as expenditure continued to exceed income, Statistics New Zealand said today.

Manufacturing activity 'holding its own'

Manufacturing activity remained in solid territory during November, although the level of expansion eased back from the previous month, according to the latest BNZ - BusinessNZ Performance of Manufacturing Index (PMI).

South American connection a tourism boost

The tourism industry must support the new air service linking New Zealand with South America to ensure its sustainability, the Tourism Industry Association New Zealand (TIA) says.

Connor Healthcare denied clearance to acquire Acurity

The Commerce Commission has declined an application from Connor Healthcare Limited to acquire all of the shares that it does not currently own in Acurity Health Group Limited.

Asia NZ Foundation welcomes new chair and board members

The Asia New Zealand Foundation welcomes the appointment of John Luxton as its new chairman.

Veritas appoints GM for Nosh Food Market business

Veritas Investments Limited (NZX:VIL) today confirmed the appointment of Rod de Vries as General Manager for the Nosh Food Market business it acquired on 9th September 2014.

Spark Digital wins EY contract

EY, ranked as the world’s -most attractive professional services employer, has selected Spark Digital as its partner for all New Zealand telecommunications services.

IANZ tightens ties with Taiwan

Getting Kiwi products in front of Taiwanese consumers will be easier in future, thanks to a new arrangement just finalised by International Accreditation NZ (IANZ).

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