No dough for Carpet Court shareholders, Stalled CBD hotel back on track, Three ways to reduce rural misery
What's in your National Business Review print edition this week.
What's in your National Business Review print edition this week.
In today's NBR Print Edition: Struggling flooring retailer Carpet Court is to be sold off to an Australian private equity fund, reportedly with no crumbs left for its shareholders. Sources close to the deal say there was a better offer on the table but this fell through, and creditor Westpac Bank is keen to see the business go quickly. Calida Smylie reports.
Farmer efforts to promote a meat industry mega merger look too little, too late, as the Silver Fern Farms [U:SFF] board mulls several formal transaction proposals from overseas investors. Silver Fern is said to be facing either the sale of its beef business or a new controlling shareholder. Tim hunter reports.
Further interest rate cuts are on the way as Reserve Bank governor Graeme Wheeler signalled a less rosy outlook. Rob Hosking assesses what the risks to the economy are.
Scaffolding should start appearing on Auckland’s former Reserve Bank building next month as its stalled conversion gets under way again. Sallay Lindsay reveals the Customs St site will now be transformed into two hotels – the Accor-branded So Hotel as originally planned but now in just half of the building, and a new 32-storey, 252-bed hotel, believed to be an Accor-branded Novotel. The media-shy NBR Rich List Pandey family’s CP Group has sacked Plus Construction NZ and its Korean parent, which were delivering the original So Hotel, for defaulting on the contract and leaving some sub-contractors unpaid.
Independent valuations ordered by the Commerce Commission are the sticking point delaying its decision on the proposed merger of New Zealand’s two remaining wool scourers. And, as Jenny Ruth reports, the commission has taken the unusual step of holding a further hearing, this time behind closed doors, specifically on those conflicting valuations.
Investors can be forgiven for feeling somewhat bi-polar given recent world events, writes Nevil Gibson in Margin Call.
A year after the ASX introduced sustainability risk reporting requirements, it looks as though its New Zealand counterpart is thinking of following suit. Calida Smylie investigates whether this is a passing fad or something more sensible.
Farmers are facing unprecedented market volatility, which is creating pressures that could be alleviated by government action and support, writes Jacqueline Rowarth. Reducing the cost of compliance is one, particularly in areas where there is lack of evidence about the benefits of the outcome, or where there are different rules for different sectors – for whatever reason.
Meanwhile, Tim Hunter says cow cockies have had us fooled for years as he takes in the record low dairy prices.
Lessons are available from across the Tasman to decide what, if any, rules and restrictions should apply to foreign property buyers, writes Michael Coote.
Out of favour with investors, Orion Health [NZX:OHE] promises to be more transparent. Shoeshine points to three things the software company needs to do.
All this and more in today's National Business Review. Out now.