26 March 2002 ASB Bank’s chief economist, Anthony Byett, said today in the bank’s weekly commodities report dairy prices, down 26% on a year ago, would reduce total goods export earnings by 5-6%/year, and goods & services income by 4%/year. The farm gate payout in the June 2003 year could be $1.2 billion below this […]
Read more →Archive - local business
Snapshot on local business, week to 29 April 2001
Items on Local Business this week: Help for migrants Shore council wants to be nice Latest: Help for migrants, Shore council wants to be nice. 29 April 2001 A news release from Auckland City Council community development committee’s chairman, Cllr Penny Sefuiva, indicates an end to 17 years of madness, during which New Zealand has […]
Read more →Snapshot on local business, week to 10 February 2002
9 February 2002 While politicians use Auckland’s transport woes to try to score points, planned bus network improvements are about to start, in March. “These include a boost in services along the main arterials of Sandringham &New North Rds to between 5 & 10 minutes at peak times as well as improved frequencies at other […]
Read more →Snapshot on local business, week to 17 August 2003
15 August 2003 Australasian Hotel Holdings Ltd has had the listing date of its subordinated secured bonds on the NZDX delayed to 1 September. They were to have been listed on 25 August. Applications have been received for $42.2 million of the 5-year 9% bonds. Melbourne’s Age newspaper reports: “Ownership of another Australian icon will […]
Read more →Snapshot on local business, week to 14 July 2002
9 July 2002 Retail sales rose 8.3% in May (over May 2001) — or by $317 million to $4.1 billion (net of gst) — but Statistics NZ said the seasonally adjusted change from April to May was a 1.2% fall. The total figures in recent months have included some hefty rises in spending on vehicles, […]
Read more →Snapshot on local business, week to 11 March 2001
Latest: Transfund gives $22m for rail corridors, shareholders approve Fletcher Challenge separation, Fletcher Challenge breakup battle. 8 March 2001 Transfund has agreed to provide $22 million, half the money Auckland’s councils wanted from it, for the region’s rail corridor deal with Tranz Rail. Infrastructure Auckland has allocated $30 million to the project and the councils […]
Read more →Snapshot on local business, week to 19 January 2003
19 January 2003 The consumer price index rose 0.6% in the December quarter to a 2.7% annual rate but the food price index fell 0.7%, and has risen by only 0.6% over the year. Main CPI drivers were housing & transport. House prices rose 1.4% on rises in the purchase & construction of new homes, […]
Read more →Snapshot on local business, week to 30 November 2003
30 November 2003 Business in Pt Chevalier & Royal Oak have voted not to establish a Mainstreet programme. 60% support was required for the Auckland City Council to institute a Mainstreet levy on local businesses. Pt Chevalier’s vote was 58% in favour, Royal Oak’s 50%. Both areas were previously polled in April. Council strategy & […]
Read more →Snapshot on local business, week to 18 January 2004
15 January 2004 SkyCity Entertainment Group Ltd is conducting due diligence on the MGM Grand Darwin casino in Australia, the only licensed casino in Darwin & largest in the Northern Territory. It has 29 gaming tables, 450 gaming machines, a 107-room hotel, 4 restaurants & 5 bars. It’s owned by MGM Mirage Inc, of Las […]
Read more →Snapshot on local business, week to 17 November 2002
17 November 2002 Tower Ltd has taken Tower Trust off the market, deciding that incorporating it in its growth strategies “would be the best use of shareholder capital.” Several parties had completed due diligence & submitted bids for the business. Tower Ltd is also reviewing strategic & operational initiatives and intends announcing outcome early in […]
Read more →Snapshot on local business, week to 19 August 2001
Latest: Rates bill in Parliament, passenger numbers rise, submit your rates concerns, new plan for regional transport strategy, transport theme finalists. 16 August 2001 Local Government Minister Sandra Lee started the Local Government (Rating) Bill on its proposed short course through Parliament today, recommending that the local government & environment select committee present its final […]
Read more →Snapshot on local business, week to 4 May 2003
1 May 2003 New Zealand’s trade deficit for the March year was $1.851 billion, a turnaround from the $866 million surplus the previous year, which had ended a run of 6 deficit years. The year started moderately well with 3 positive months, but was followed by 7 deficit months before turning slightly black (to the […]
Read more →Snapshot on local business, week to 12 May 2002
12 May 2002 Savoy Equities Ltd, now a shelf company, was suspended from trading by the Stock Exchange’s market surveillance panel on Wednesday for not issuing its annual report by 30 April. 7 May 2002 Standard & Poor’s has confirmed Auckland City Council’s credit ratings of AA (long term) & A1+ (short term), and could […]
Read more →Snapshot on local business, week to 20 May 2001
Latest: Costs against campaigners, Shu Bar owners look at Deka, Lowe looks at Colyer Mair, Affco profit slides, RetailX deal proposed, interest rates cut, Fletcher Building pro forma accounts, Colonial trust intact in bank rejig, Email man to run Fletcher Building. 20 May 2001 Hamilton anti-casino campaigners, including the mayor, two councillors, and the Anglican […]
Read more →Snapshot on local business, week to 17 March 2002
14 March 2002 Permanent green buslanes will be painted on 14km of Auckland City arterial roads, including Symonds St, Great North Rd, Dominion Rd, Mt Eden Rd & Fanshawe St. 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 […]
Read more →Snapshot on local business, week to 24 August 2003
23 August 2003 Auckland City Council intends spending an extra $1 billion on the upgrade of the Aotea Centre’s convention facilities, taking the upgrade to $6 million. The increase includes $370,000 diverted from The Edge’s budget. The rest of the $1 million is unbudgeted. The proposal by the council’s finance & corporate business committee will […]
Read more →Snapshot on local business, week to 28 July 2002
22 July 2002 Auckland City Council’s finance & corporate business committee will hold a special meeting on Thursday 25 July, from 9.30-11.30am, in the Civic Building to discuss the strategy for selling the council’s stake in Auckland International Airport Ltd.
Read more →Snapshot on local business, week to 1 July 2001
Latest: Friday decision on Woolworths bid, Rubicon completes Challenge sale to Caltex, Norris quits ASB, March quarter gdp holds on zero, convoluted Evergreen notes buyback, Fletcher Forests changes accounting for trees, May trade surplus rises, Statistics NZ compiles new indicators, NZ $87.6 billion in red, current account balance improves, 6 July forum for rapid transit […]
Read more →Snapshot on local business, week to 26 January 2003
25 January 2003 Ports of Auckland Ltd increased container volumes 7% in December over December 2001 & 7% for the December year, full import teu (20ft-equivalent units) volumes 25% for the month & 10% for the year, full export teu volumes 3% for the month & steady for the year, transhipments 15% for both month […]
Read more →Snapshot on local business, week to 27 July 2003
25 July 2003 The Reserve Bank cut the official cash rate by another 25 basis points to 5% on Thursday. For a look at how the rate has changed since it was introduced in March 1999, the Reserve Bank has a table showing all the movements. It started out at 4.5%.
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