Independence Group snares Sirius for $1.8b

Gold, nickel, zinc and copper producer Independence Group has struck a $1.8 billion deal to acquire Sirius Resources. Sirius says its board is recommending shareholders accept the cash-and-stock deal, ...

  • Lower $A lifts market AAP - 15 minutes ago

    The share market is higher thanks to a fall in the Australian dollar. The Australian dollar is trading around one US cent lower compared to Friday due to increased expectations of a US interest rate hike in the coming months. IG market strategist Stan Shamu said that had provided a boost to Australian companies with overseas earnings and exporters.

  • Metgasco seeks govt compensation AAP - 28 minutes ago

    Metgasco is urging the NSW government to strike an out-of-court compensation deal following their legal tussle over the suspension of the coal seam gas explorer's drilling licence. Metgasco in April won a long-running Supreme Court legal battle over the government's decision in 2014 to suspend its drilling licence near Lismore in northern NSW. Managing director Peter Henderson said he was pleased the government had advised that it had no plans to appeal the Supreme Court's ruling.

  • Aust shares open higher AAP - 43 minutes ago
    Aust shares open higher

    The Australian share market has opened slightly higher, helped by gains in mining stocks. At 1010 AEST on Monday, the benchmark S&P/ASX200 index was up 9.5 points, or 0.17 per cent, at 5,674.3, while the ...

  • NZ Dollar Outlook: Kiwi may decline as outlook for … BusinessDesk - 47 minutes ago

    The New Zealand dollar is expected to head lower this week as traders bet an improving US economy will push the greenback higher. The kiwi may trade between 70.60 US cents and 75 cents this week, according to a BusinessDesk survey of 13 currency advisers. Eleven expect the kiwi to fall and two bet it will gain.

  • Small business confidence slides AAP - 59 minutes ago

    It looks like small business got a shot in the arm from the federal budget just in time, with confidence in the sector at its lowest in over a year. The Westpac/Melbourne Institute small business index fell 12.7 per cent to 108.2 points in April from February, the worst result since the quarterly survey started in early 2014. The survey was conducted between April 7 and 16, about a month before the government unveiled a raft of incentives for small businesses in its May 12 federal budget.

  • Nuplex projects 64% gain in Asia sales by 2018 as capacity … BusinessDesk - 1 hour 38 minutes ago

    Nuplex Industries, which makes resins used in industrial coatings and paint, is forecasting a 64 percent gain in sales in Asia by 2018 as its expansion of plants in China, Vietnam, Thailand and Indonesia bears fruit. The Auckland-based company expects sales from Asia of about US$400 million by the end of 2018, from US$243 million in 2014, according to a presentation for an investor day in Auckland. Nuplex has been cutting back operations in Australia and New Zealand, where a weaker performance is weighing on growth in Asia, America and Europe.

  • Skilled, Programmed enter merger talks AAP - 2 hours 0 minutes ago

    Australia's biggest workforce provider, Skilled Group, has entered into merger talks with rival Programmed Group, just months after rejecting a takeover offer from the company. Skilled on Monday said it ...

  • Young women feel most financial stress AAP - 2 hours 0 minutes ago

    Young women in particular are feeling the most financial stress, with more than half of those aged 25-29 getting stressed over money. In contrast, men in their late 20s are more likely to live for today when it comes to their finances, a survey by consumer research and ratings company Canstar Blue shows. "Generally speaking, the older you get, the less you stress about money - but that's not necessarily true for a lot of women who continue to feel pressure later in life," Canstar Blue head Megan Doyle said.

  • Aust bonds weaker after Fed comments AAP - 2 hours 10 minutes ago

    The Australian bond market is slightly weaker after the head of the US central bank indicated that an interest rate hike before the end of the year is possible. US Federal Reserve chair Janet Yellen said ...

  • UPDATE: Contact shares rocket up on capital return … BusinessDesk - 2 hours 22 minutes ago

    Contact Energy shares jumped more than 14 percent after the energy generator and retailer said it had ditched plans for now to invest in geothermal schemes offshore and will increase returns to shareholders, including a special dividend. Contact announced a 50 cents per share fully imputed special dividend, payable June 23, and a new ordinary dividend payout ratio of 100 percent of underlying earnings after tax. It also flagged the prospect of share buybacks if free cash flow allows larger distributions in the next few years, when Contact has no significant investment plans in New Zealand, where there is currently an over-supply of electricity generation.

  • Commodities markets summary AAP - 2 hours 31 minutes ago

    Oil prices have fallen as the dollar strengthened on firming US inflation data, and profit-taking weighing in after a two-day crude rally. US benchmark West Texas Intermediate for delivery in July dropped $US1 to finish at $US59.72 a barrel on the New York Mercantile Exchange on Friday. The Labor Department reported US consumer prices rose for a third straight month in April.

  • Methven lifts annual profit 21% as new China plant … BusinessDesk - 2 hours 39 minutes ago

    Methven, the NZX-listed tap and shower manufacturer and exporter, lifted annual profit 21 percent, in line with guidance, after the acquisition of a Chinese manufacturing plant widened margins. Profit rose to $5.69 million in the year ended March 31, from $4.71 million a year earlier, the Auckland-based company said in a statement. At balance date the tap and shower maker's debt increased to $22.75 million from $14.45 million a year earlier, after it finalised the purchase of its Chinese manufacturer, Methven Heshan, formerly Invention Sanitary.

  • Evolve posts smaller FY loss than forecast as settlements … BusinessDesk - 3 hours ago

    Evolve Education Group, the childcare operator that listed in December, reported a smaller annual loss than forecast in its offer document as it settled a series of acquisitions faster than anticipated, driving higher revenue. "The result was driven by accelerated settlement of acquisitions and improved operational performance at the ECE (early childhood education) centres," chief executive Alan Wham said in a statement. The company raised $132.3 million in its December initial public offering to fund a series of acquisitions, including Lollipops Educare, the in-home childcare Porse Group, Wellington-based I-Kids and Christchurch-based Artemis Learning.

  • International markets roundup AAP - 3 hours ago

    A roundup of trading on major world markets: NEW YORK - Wall Street stocks have finished lower in light pre-holiday trade after Federal Reserve Chair Janet Yellen said the plan to raise interest rates ...

  • $A falls after strong US data AAP - 3 hours ago

    The Australian dollar is lower following the release of strong US inflation figures and falls in commodity prices. At 0700 AEST on Monday, the local unit was trading at 78.23 US cents, down from 79.12 ...

New Zealand Markets

Company Finances

  • House panel votes to repeal country-origin meat labeling law Associated Press - Thu, May 21, 2015 8:35 AM NZST
    House panel votes to repeal country-origin meat labeling law

    A House committee has voted to get rid of labels on packages of meat that say where the animals were born, raised and slaughtered. The House Agriculture Committee voted 38-6 to repeal a "country-of-origin" ...

  • What you need to know about the Takata air bag recall Associated Press - Thu, May 21, 2015 8:34 AM NZST
    What you need to know about the Takata air bag recall

    A recall of air bags made by Japanese auto parts supplier Takata Corp. now has the dubious distinction of being the largest in U.S. history. The number of vehicles in the U.S. being recalled because of ...

  • This New Virtual Reality Headset Tracks Your Eye Movements Entrepreneur - Thu, May 21, 2015 7:50 AM NZST
    This New Virtual Reality Headset Tracks Your Eye Movements

    FOVE has launched a Kickstarter campaign to fund production and manufacturing of its headset.

  • Target beating Wal-Mart in race for turnaround Associated Press - Thu, May 21, 2015 5:58 AM NZST
    Target beating Wal-Mart in race for turnaround

    Target is beating Wal-Mart in the race to beef up sales. Target Corp. on Wednesday reported a nearly 52 percent surge in its first-quarter profit on strong sales of more profitable items like fashion and ...

  • Toyota recalls 181,000 cars AAP - Wed, May 20, 2015 8:13 PM NZST
    Toyota recalls 181,000 cars

    Toyota Australia has ordered the recall of 181,000 cars after an airbag fault linked to five deaths worldwide. The decision is part of a global recall of more than five million Toyotas which have been fitted with airbags from one of the world's biggest air-bag companies, Takata. Toyota Australia says its recall will affect vehicles built between 2003 and 2007 and includes its Yaris, Corolla, Avensis Verso, Echo and Rav4 models.

  • House to consider repeal of meat labeling law Associated Press - Wed, May 20, 2015 7:29 PM NZST
    House to consider repeal of meat labeling law

    A House committee is moving swiftly to get rid of labels on packages of meat that say where the animals were born, raised and slaughtered. The House Agriculture Committee will consider a bill to repeal ...

  • Takata air bag recall doubles to nearly 34 million Associated Press - Wed, May 20, 2015 2:37 PM NZST
    Takata air bag recall doubles to nearly 34 million

    Under pressure from U.S. safety regulators, Takata Corp. has agreed to declare 33.8 million air bags defective, a move that will double the number of cars and trucks included in what is now the largest ...

  • US investigation of 2007 peanut butter recall wraps up Associated Press - Wed, May 20, 2015 2:16 PM NZST
    US investigation of 2007 peanut butter recall wraps up

    ConAgra Foods is likely to face a criminal charge now that the U.S. government has completed its investigation of the company's 2007 peanut butter recall. A spokeswoman for the U.S. attorney's office in ...

  • Illinois Supreme Court hears $10B Phillip Morris appeal Associated Press - Wed, May 20, 2015 8:49 AM NZST
    Illinois Supreme Court hears $10B Phillip Morris appeal

    The fate of a $10.1 billion class-action judgment against the nation's largest cigarette maker is in the hands of justices at the Illinois Supreme Court, who heard oral arguments Tuesday in Phillip Morris ...

  • Fried chicken chain KFC resurrects Colonel Sanders for ads Associated Press - Wed, May 20, 2015 7:01 AM NZST
    Fried chicken chain KFC resurrects Colonel Sanders for ads

    KFC is bringing back Colonel Sanders as the fried chicken chain seeks to refresh its image by harkening back to its past. Sanders, who founded KFC, will be played by "Saturday Night Live" alumnus ...