Continuous Disclosure is a market news column, including analysis and opinion. Edited by Duncan Bridgeman, Tamsyn Parker and Jamie Gray.

Daniel lashes out ahead of NZX meeting

Activist NZX investor Mike Daniel reckons the NZ Shareholders Association is being too soft on the stock exchange operator as he ramps up criticism ahead of the annual meeting. And, perhaps surprisingly given his harsh statements about the NZX, Daniel's trusts have increased their shareholding in the company in recent months.

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UBS lifts profit sharply
A near doubling of income from fees and commissions helped drive investment bank UBS New Zealand to a $7.8 million net profit in calender 2018 from just $0.5 million in the previous year.
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Napier Port roadshow rolls on
Contrary to a report in Australian Financial Review, an ASX listing is not being sought.
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Halifax, CBL costs mount
Investors in collapsed Australian derivatives trader Halifax must be wondering how much it is going to end up costing for the company to go through administration. Meanwhile latest figures for failed insurer CBL Corporation show more than $4m in administrative and legal costs have been racked up since administrators were appointed on February 23 last year.
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Analysts react to Air NZ update
Air New Zealand's business review has landed to a muted welcome from analysts. Andrew Steele at FCNZ and Wade Gardiner of Craigs Investment Partners give their verdict on the airline's strategy update.
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Westland's big shareholders bide their time
"We haven't formed a view on the offer yet," a spokesperson for Southern Pastures said when asked for comment on a takeover offer for Hokitika-based Westland Milk.
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Winds of change for Fonterra
FCNZ analyst and longtime Fonterra watcher, Arie Dekker, runs the ruler over the co-operative's interim report.
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Spark boss ribs new Sky TV CEO
Underneath the quips, there's an annoying truth for sports fans: for many codes, they'll have to buy both the $20/month Spark Sport plus a Sky Sport package to see all the action.
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Hang on, is that a plain-speaking interim report?
Fonterra's 2019 interim report is a thing of simplicity and plain-speaking compared to the imagery flash and hype of last year's effort.
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HK's First Pacific takes a bath on Goodman Sale
Hong Kong investment company First Pacific has taken a US$280m ($408m) bath on the sale of its half share in Australasian food group, Goodman Fielder.
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Moutter attack the perfect distraction for Jones
Shane Jones' attack on Simon Moutter could be viewed as his latest dig at corporate New Zealand or as a clever distraction from the furore over his Provincial Growth Fund.
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NAB taps Southern Man for chair
He once spent three and a-half years working as a midnight-to-dawn disc jockey at Dunedin's 4XO radio station. Now he's chairman of BNZ parent National Australia Bank.
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Tip Top sale problematic
Bids close on Monday for Fonterra's Tip Top ice cream business but the sale process has been anything but smooth, according to sources close to the company.
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Is Sky TV heading for the sunset?
"It really is a difficult equation for Sky TV as to what they do from here," says one influential fund manager.
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Mobi2Go raises $5m
Wellington-based Mobi2Go, which specialises in online ordering solutions for the hospitality sector, has raised $5 million from a funding round led by New Zealand technology venture capital specialist, Movac.
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Another Hrdlicka share sale looms
A2 Milk chief executive Jayne Hrdlicka caused a stir on the sharemarket last year with the sale of her shares in the company and it's looking likely that there will another sale in August.
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Blackstone seeks buyer for Burger King franchise
American private equity firm Blackstone is on the hunt for a buyer to take over the Burger King New Zealand franchise. Deutsche Craigs has been hired to run an auction for the fast food business.
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Big companies wean off bank debt
Higher interest rates and more cautious banks are driving New Zealand's biggest listed companies to look elsewhere for funding. A new report finds just seven of the top 25 listed companies on the NZX are entirely reliant on bank funding.
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Vodafone a value stock, Paris says
Vodafone NZ might be poised to fill a Xero-size whole in the NZX, but it will be a very different type of stock, despite the pair both being in the technology business. Chief executive Jason Paris opens up about the planned IPO.
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Xero to make hay from law change
ASX-listed Xero is poised to make hay from a law change across the Tasman, that will require some 700,000 small businesses to adopt a single-touch payroll solution by the start of the country's new tax year on July 1. The change has analysts sharpening their pencils.
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