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1 week ago | 
businessdesk.co.nz | Pattrick Smellie
James Whittaker never planned to get into the hearing business.The former British Airways executive who moved here in 2008 got his first job in this country, not to mention in the audiology sector, through an act of desperation.With a six-month visa, six months’ funds and a young family, he feared he’d flubbed the interview, so surprised himself by offering to buy his prospective employer dinner.“I had to get that job,” he told BusinessDesk, speaking from a bright orange-hued back room at a...
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1 week ago | 
businessdesk.co.nz | Pattrick Smellie
ANZ Bank’s New Zealand unit produced a statutory net profit 23% higher in the six months to March 31 than in the same period a year earlier, almost entirely reflecting non-cash gains in the value of financial instruments, where the previous half showed losses.For the half-year, the NZ unit of the Australian-owned bank reported statutory profit of $1.27 billion, compared with $1.04b in the same period a year earlier.
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1 week ago | 
businessdesk.co.nz | Pattrick Smellie
NZME chair Barbara Chapman is making “deliberately misleading” statements that presume she will have a say in the appointment of prospective director Steven Joyce to chair a refreshed board for the Auckland-based news publisher, according to Troy Bowker, one of the shareholders who is moving against the current board.“She doesn’t get to decide whether she resigns,” the founder of Caniwi Capital told BusinessDesk.
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1 week ago | 
businessdesk.co.nz | Pattrick Smellie
Contact Energy has announced a deal to buy gas from the country’s largest gas user, Methanex, to help cover winter demand after historically low inflows into its Clutha hydro catchment over the summer months.The deal for about 2.8 Petajoules of gas will run for eight weeks and begin immediately.
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1 week ago | 
businessdesk.co.nz | Pattrick Smellie
MKTUPDTE Wed, May 07 2025 12:00 pm Promisia Healthcare Limited (NZX:PHL) is pleased to advise the market of an increase in the aggregate value of its facilities as at 31 March 2025. Promisia engaged CBRE to undertake valuations on three of its facilities — Nelson Street, Aldwins House, and Ranfurly Manor — as at 31 March 2025 as part of its usual financial reporting processes.
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1 week ago | 
businessdesk.co.nz | Pattrick Smellie
Bank of New Zealand’s net interest margins were flat at 2.37% for the six months to March 31, with the New Zealand arm of the National Australia Bank showing significant home-lending growth compared to its peers.That compared with 1.7% net interest margins (NIMs) in the Australian operation, mirroring Westpac’s half-year result earlier this week in which NIMs in NZ were significantly higher than the bank was achieving in Australia.The NZ unit reported a statutory net profit increase of 4.3%...
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1 week ago | 
businessdesk.co.nz | Pattrick Smellie
A Takeovers Panel inquiry has cleared NZME board coup initiator Jim Grenon of being an “associate” of the publisher’s largest shareholder, removing another obstacle to resolving the battle for board control.The panel did rule that Grenon was an associate of Caniwi Capital at the relevant time, which held 1.674% of the NZME register at the time, but that since their combined interest was below 20% of the company, there was no code breach.Spheria owns 19% of NZME, publisher of The New Zealand...
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1 week ago | 
businessdesk.co.nz | Pattrick Smellie |Rebecca Stevenson
Peace appears close in the attempted board coup at news publisher NZME, with the largest single shareholder, Spheria Asset Management, backing the appointment of former National Party Cabinet Minister Steven Joyce as the company's new chair.With a 19% shareholding and having backed expatriate Canadian investor Jim Grenon's attempt to roll the entire current board, Spheria’s Matt Booker told BusinessDesk that Joyce “ticked all the boxes” for the role.Joyce, named on May 6 as the current NZME...
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1 week ago | 
businessdesk.co.nz | Pattrick Smellie
OFFER Wed, May 07 2025 02:23 pm Not for release or distribution in the United States7 May 2025NZX / ASX Code: EBO RETAIL OFFER ISSUE PRICE ANNOUNCEDEBOS Group Limited’s (“EBOS”) up to A$50 million (NZ$54 million(1)) retail offer (“Retail Offer”) that was announced on Thursday, 10 April 2025 closed yesterday, Tuesday, 6 May 2025.
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1 week ago | 
businessdesk.co.nz | Pattrick Smellie
News publisher NZME has finally announced its plan either to see off or dilute the impact of a board takeover sought by its 9.97% shareholder, Jim Grenon.The proposal outlined in a statement to the NZX makes the resignation from the board of the current chair, Barbara Chapman, contingent on the election of John Key-era Cabinet minister Steven Joyce to the board.Investors seemed to like the announcement, with the NZME share price lifting 4.7% in morning trading on the NZX on May 6 to $1.11.The...
