Lydia Marshall's Blog: June 2016

An infant formula business which collapsed this year owing more than $600,000 had had its “platinum” brand challenged by a2 Milk months before it went under.

Read the original here: Liquidated infant formula firm’s brand disputed by a2 Milk

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Equity crowdfunding progress sluggish for most licensed platforms

Some have never run a successful deal and one has not attempted to launch one at all. With special feature audio.

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MARKET CLOSE: NZ shares gained as market bounce continued; Kathmandu, Fletcher rose

The S&P/NZX 50 Index rose 93.3 points, or 1.4%, to 6,897.52. With special feature audio.

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Auditors warn of Seadragon's going concern ability as firm breaches covenant

PWC indicates an uncertainty that casts doubt on the Nelson-based company’s ability to continue as a going concern.

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Wednesday, 29 June 2016

Lower Australian opening farmgate milk price from Fonterra

Farmgate milk price in Australia is also impacted by global dairy markets.

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Z Energy savings from Caltex acquisiton on track

Z expects the sale of 19 service stations and one truck stop to be wrapped up before the end of the 2017 financial year.

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Auckland to host longest, toughest Volvo Ocean Race in 2018

The organisers say the new round-the-world route will be faster and take a month less time.

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NZ dollar pushes above 71USc as investors regain confidence after Brexit vote

The kiwi touched a high of 71.36USc early this morning. With special feature audio.

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Easy to axe overseas holidays, says insurer

FMA life insurance report will feed into government Financial Advisers Act review.

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While you were sleeping: UPDATED Shares, oil extend post-Brexit rally

Sharemarkets in the US and Europe have almost recovered their losses since the UK referendum. With special feature audio.

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Hellaby Holdings jumps 7% on sale of equipment group

The diversified investor said it had received an unsolicited approach from the Maui Capital Aqua Fund and had accepted the offer. With special feature audio.

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NZ dollar gains as Brexit-induced volatility eases

The kiwi increased to 70.75 US cents at 5pm in Wellington. With special feature audio.

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MARKET CLOSE: NZ stocks rise along with global markets; Metro Glass, Xero, A2 lead gainers

The S&P/NZX rose 87.62 points, or 1.3 percent, to 6,804.2. With special feature audio.

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Fonterra’s new Aussie boss faces some tough hurdles

Australian dairy farmers pledged to begin negotiations for a fairer milk price for all farmer suppliers, just days after Fonterra appointed a new Aussie boss.

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Tuesday, 28 June 2016

Hellaby agrees to sell equipment unit to Maui Capital for $81m

The diversified investor received an unsolicited approach from Maui Capital as it was working through a strategic analysis of its business model and agreed to accept the offer. With special feature audio.

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While you were sleeping: UPDATED Stocks, pound rebound after Brexit pounding

Wall Street recovery’s previous day’s losses. With special feature audio.

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NZ dollar takes a breather after bout of Brexit volatility

The kiwi traded at 70.39USc at 8am in Wellington. With special feature audio.

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MARKET CLOSE: Shares climb as investors seek stability

The S&P/NZX 50 Index gained 29.65 points, or 0.4%, to 6,716.58. With special feature audio.

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Dollar rises back above US70c after Cameron says he won't rush for Brexit

The kiwi traded at 70.47 US cents as at 5pm in Wellington. With special feature audio.

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Vocus raising $A650m for acquisition

Who is the target?

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Big Food backs changes to s.36 of Commerce Act to curtail power of big supermarkets

The review grew out of the Productivity Commission’s recommendations in May 2014 and the 2015 Business Growth Agenda.

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CBL attracts new business on back of the Brexit

Brexit an “excellent outcome” for the listed insurer, as UK-based competitors struggle with the fall-out. With special feature audio.

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Smiths City boss Roy Campbell lifts holding in retailer with small, off-market purchase

Documents filed with the NZX show he held just 2,603 Smiths City shares prior to spending $19,391 to take his holding up to 38,512.

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Lion NZ escapes mega merger repercussions

Lion NZ will continue to distribute brands like Corona and Stella Artois in NZ after AB InBev and SABMiller merger.

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Monday, 27 June 2016

E Tu pushes for pay rise, health & safety representation in multi-employer deal

Representatives from the union and nine companies today kick off talks to renew the Metal and Manufacturing Industries Collective Agreement.

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Laura Ashley exits NZ as Australian business finds a buyer

NZ business faces a $2.3 million shortfall.

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NZ dollar hits three-year high against British pound

The kiwi touched 53.67 British pence overnight. With special feature audio.

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Key hoses down talk of Kiwi-Aussie joint approach to post-Brexit negotiations

“We are quite similar in our approaches,” John Key told his weekly post-Cabinet press conference.With special feature audio.

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While you were sleeping: UPDATED Brexit slide continues

Bank stocks plummeted in the US and Europe for a second day. With special feature audio.

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MARKET CLOSE: NZ shares bounce as Asian markets rise; Auckland Airport, Chorus, Genesis gain

The S&P/NZX 50 Index rose 19.14 points, or 0.3 percent, to 6,686.92. With special feature audio.

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NZ dollar extends gains vs pound

The kiwi rose to 52.78 British pence as at 5pm in Wellington. With special feature audio.

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Private equity circles Hirepool, Australian media reports

Australian private equity firms Crescent Capital and Anchorage Capital are among potential buyers for the Auckland-based company.

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Vital Healthcare says shareholder's purchase of stake in Australian health trust not linked to rights offer

NorthWest Healthcare Properties owns about 24.4% of Vital Healthcare Management.

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Tourism Holdings boss downplays impact of Brexit on company

The company’s shares opened 5.6% down this morning. With special feature audio.

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Sunday, 26 June 2016

Radius puts IPO plans on ice

The company is well-capitalised and made about $90m revenue last year.

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NZ dollar drops to 10-day low as Brexit stokes uncertainty in financial markets

The kiwi fell to 70.80USc at 8am in Wellington from 71.30USc on Friday in New York. With special feature audio.

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The 4 P’s of Business Leadership: Purpose, Persistence, Patience, Productivity

An inflatable P

The 4 P’s of marketing are a well-known recipe for a successful marketing plan. Most of us know these to be ‘Product, Price, Promotion and Place’. There are also 4 P’s for successful business leadership. They are as follows;

Purpose: We have to know exactly where we are headed and why to get there in the straightest line possible- we find these answers by clarifying our purpose. Our purpose is unique to us; it seldom comes down to a financial gain in isolation, but almost always needs to be funded from a financial gain. Therefore, I stress the necessity of placing a specific value to our purpose so that we build our businesses to create the funding we need. If we do this, a focused plan of action will follow more naturally.

Persistence: Being an entrepreneur can be very lonely and we have to learn to carry on, often in isolation, regardless of the feedback we may or may not be receiving. For many of us, there is no one waiting for us to arrive at the office at 8am and only expecting us to leave at 5pm. We have to find our persistence within, often besieged by daily domestic demands. There are ways to deal with this. Whilst I love working from home, I often pack my laptop into my handbag and head to a coffee shop where I can work with focus for a couple of hours. Whilst the noise level around me is often high, it’s less distracting than the pets, family and washing at home. I also find that going to a place where I don’t have wireless helps me to stay off distractions like email and social media whilst I push through the creative process of what I do.

Patience: This is a hard one in a world of instant gratification – and possibly the hardest one for our younger entrepreneurs to accept. I have learned, and I keep learning over with every new project that the world is not in the same hurry that I am. I can imagine the universe is looking down at me saying, “So you want that do you? Well, let’s just make sure of that”, as it withholds any form of positive feedback until it becomes convinced that I am serious about what I want to create or make happen. To be patiently persistent is one of the biggest challenges for my personality type – but I have had to develop this skill in the entrepreneurial world. Having an action plan around dealing effectively with the physical and mental effects of frustration is very helpful.

Productivity: This is everything. No one gets to where they are going as a business leader, or business builder or business navigator without a massive amount of action. As business leaders with a purpose we will be naturally driven but like everyone else we only get 24 hours in every day, and we have many other demands on our time. Productivity is key to our success as it lies at the heart of our expertise as a business leader. But be warned -massive productivity often means massive failure. One of the most common and devastating mistakes the less successful EnQ ‘species’ of entrepreneurs I identify in Path of the Lion, make – is to avoid failure at all costs. And it does cost – in doing so they also avoid the successes that lie right beyond the failures. Being productive does not mean getting everything right, it means finding out the ways that don’t work faster than the competition and in time to realise the financial gains needed for our purpose.

Sandy Geyer is an entrepreneur and mentor and teaches the principles of entrepreneurial intelligence (EnQ), to entrepreneurs and students in New Zealand, Australia and South Africa. Visit Sandy’s website at www.enqpractice.com

The post The 4 P’s of Business Leadership: Purpose, Persistence, Patience, Productivity appeared first on NZ Entrepreneur.

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Silver Fern to miss deadline for Shanghai Maling sale, insists deal still on

Next month’s special meeting was requested by shareholders opposed to the sale.

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World Week Ahead: Brexit carnage

Billionaire currency speculator George Soros predicts global trouble. With special feature audio.

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Friday, 24 June 2016

NZ dollar, swaps tumble as Brexit confounds pollsters; central banks likely to act

The kiwi dollar fell to 69.84 US cents at 5pm in Wellington. With special feature audio.

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MARKET CLOSE: NZ shares dip after Brexit vote; Xero, A2, banks hit hard

The S&P/NZX 50 Index dropped 153.57 points, or 2.3 percent, to 6,667.78. With special feature audio.

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Wynyard chairman gets a grip

A new regime is evident at the troubled software company but questions remain about its reporting. With special feature audio.

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Tortuous tautologies trap Royal Society

The sickening display of political posturing we are now inured to. With special feature audio.

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Up to 100,000 trusts at risk, What happens if Silver Fern deal fails? SOE land sales challengeable

What’s in your National Business Review print edition this week.

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Smiths City annual profit drops 30%

Net profit fell to $5.6 million, or 10.6 cents per share, in the year ended April 30

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Cavalier raises 2016 earnings guidance on better performance from broadloom carpets

Post-tax normalised earnings are expected to be $6 million in the 12 months ending June 30.

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UK e-commerce giant crashes as pound plummets

£1.1 billion revenue company’s website crashes as the UK’s EU referendum causes pound to fall. With special feature audio.

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Court battle shows takeover cost battles still aren’t clear

In the animal kingdom, small creatures use a range of defence mechanisms when threatened by those that view them as prey.

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Why workforce gender diversity is a scam

OPINION: There is a woman running for president in the US and no one knows how to talk about it.

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Thursday, 23 June 2016

Fellet makes modest purchases of Sky TV shares ahead of vote on Vodafone merger

John Fellet bought 19,800 shares for $98,604, or $4.98 a share, on the market on June 21.

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NZ dollar jumps above 72USc as UK picked likely to stick with Europe

The kiwi climbed to 72.44USc at 8am in Wellington from 71.80USc at 5pm yesterday.

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Diversity a catchphrase but what’s actually changing?

Of the top 122 companies listed on the NZX, 32% have no women on their boards and 77% have less than 30%. With special feature audio.

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Quayside Holdings takes large stake in medical honey company

HoneyLab set to sign deal with global consumer pharmaceutical company. With special feature audio.

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Hellaby says TBS purchase price is cheaper than it looks

Hellaby Holdings expects its latest purchase, TBS Group, an add-on to its Contract Resources business, will out-perform its earn-out target. With special feature audio.

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While you were sleeping: UPDATED Stocks, pound rally ahead of Brexit vote

Polls will close at 10pm London time, and the first results are expected at about midnight.

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MARKET CLOSE: NZ shares rise before Brexit vote, led by Vital, Summerset; Nuplex drops

The S&P/NZX 50 Index gained 39.6 points, or 0.6 percent, to 6,821.35.

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Hellaby to buy TBS Group for $45m plus earnouts after gaining related party waiver

The NZX regulation decision to grant the waiver shows that TBS was put up for sale by its owners with information about the sale circulated to a limited number of potential buyers. With special feature audio.

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NZ dollar little changed near 12-month high, may push higher if UK stays in the EU

The kiwi traded at 71.80 US cents as at 5pm in Wellington.

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O:Tu winemaker Marlborough Wine Estates to join NXT

The Auckland-based company will list 293.3 million shares at 0.5 of a cent on June 30 in a compliance listing on NXT.

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Wednesday, 22 June 2016

Why congestion charging is great for Auckland

OPINION: Most important of all congestion charging provides a massive incentive to reduce sprawl. With special feature audio.

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Godfrey Hirst to challenge High Court ruling rejecting scour merger

Cavalier Wool Holdings not surprised.

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Z beat its own forecast on timing of Chevron cutover

Z Energy has completed early stages of integrating Chevron assets, raising the target price and forecast for shares and earnings. With special feature audio.

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Michael Hill outlines succession plan

Ten percent of the company to be transferred to trusts.

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NZ dollar trade-weighted index breaches 76 for first time since May 2015

The TWI rose as high as 76.06 and was at 75.91 as at 8am in Wellington.

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While you were sleeping: Brexit keeps lid on stocks

A Brexit vote could have serious repercussions - Yellen.

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MARKET CLOSE: NZ shares drop as Brexit fears ease; Tegel, Auckland Airport, Xero fall

The S&P/NZX 50 Index fell 57.67 points, or 0.8 percent, to 6,781.73.

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NZ dollar gains as risk sentiment picks up ahead of Brexit vote

The kiwi rose to 71.45 US cents from 71.12 cents late yesterday.

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NZ’s aging workforce not being catered to

Two studies say businesses need strategies for older workers such as phased retirement. With special feature audio.

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The Death of the Password

OPINION: The password as a protection mechanism is just awful. With special feature audio.

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Tuesday, 21 June 2016

Joyce warns Asian tech investors view NZ as "hobbits and food"

Steven Joyce said more had to be done to tell the country’s technology stories overseas.

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MARKET CLOSE: NZ shares drop, Tegel and Vital Healthcare dip, A2 Milk gains

The S&P/NZX 50 Index fell 30.15 points, or 0.4 percent, to 6,839.39.

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Zespri raises profit forecast range to recognise $50m of Gold3 licence revenue

Zespri is now forecasting profit of $70 million to $75 million for the 2016/17 year.

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T&G Global to open new Thailand office

In February, T&G reported an 83 percent gain in annual profit to $19.5 million in 2015.

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NZ dollar trades in tight range vs greenback, falls vs pound as Brexit vote looms

The kiwi dollar traded at 71.12 US cents as at 5pm in Wellington.

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Air New Zealand willing to resume charter flights to Vanuatu

Air New Zealand is willing to begin charter flight operations to Port Vila in Vanuatu following temporary repairs to the runway at Bauerfield.

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Tegel's brand refresh to spur on 2017 progress

Management expects to meet 2017 prospectus forecasts but what about the risks? With special feature audio.

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Bega first Aussie dairy producer to downgrade new season milk price forecast

Fonterra Cooperative Group and Australia’s biggest dairy processor Murray Goulburn are yet to announce their opening forecast for the new season in Australia.

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Electric Kiwi seeks disciplinary action against Meridian for price spike

Meridian Energy is waiting to hear whether the electricity regulator will agree to conduct an “undesirable trading situation” inquiry.

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Vital Healthcare seeks $160m to keep development pipeline pumping

The trust plans to sell shares at $2.08 apiece in a two-for-nine pro rata renounceable rights offer.

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Monday, 20 June 2016

MARKET CLOSE: NZ shares rise as Brexit fears ease; A2 Milk gains, Warehouse falls

New Zealand shares rose as Brexit fears eased, though trading remained light with investors waiting to see the result later this week. Mainfreight and A2 Milk gained, while Warehouse Group dropped.

The S&P/NZX 50 Index rose 22.46 points, or 0.3 percent, to 6,869.53. Within the index, 26 stocks rose, 16 fell and eight were unchanged. Turnover was $120.8 million.

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NZ dollar gains on polls suggesting Brexit less likely

“Sentiment at the start of this week has certainly been risk on.”

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Fitch keeps Kiwibank on negative watch pending shareholding decision

Fitch put Kiwibank’s AA+ local currency rating on negative watch in April.

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Crone’s housing prescription: pragmatic policy or attack on property rights?

Auckland mayoral candidate targets those “buying land for the purpose of deliberating sitting on it for capital gain.” With special feature audio.

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Aussie's Skydive may seek more Kiwi acquisitions

ASX-listed Beach Group has indicated its purchase of a Queenstown skydiving company won’t be the last acquisition for the company.

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Campaign for class action against Wynyard launched

The campaign has been kicked off to coincide with the Wynyard’s annual general meeting this afternoon.

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Callaghan says rejection of R&D grant from CEO's brother on merit, not conflict

Bert Quin is the brother of Callaghan CEO Mary Quin and Mr Bates was a full-time Callaghan employee.

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PGW shareholder gets delisting warning from NYSE

Shares in Agria trading below the $US1 threshold in US.

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Aussie tourism company buys Wanaka skydiving firm

An ASX-listed company has bought its second Kiwi tourism business in Queenstown in eight months.

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Billboard biz head bewildered by Auckland Council bylaw

Auckland Transport an outlier in introducing ban on election advertising on commercial sites.

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Sunday, 19 June 2016

A Quiet Revolution – Luxury Cycle Tours in NZ’s South Island

Cycle Tours

In 2011 Aucklanders Matt and Kate Belcher revolted against the frantic pace of life in the city and escaped to the peace and tranquility of Glenorchy, at the head of Queenstown’s Lake Wakatipu. Entrepreneurship enabled them to do this and their cycle tours business Revolution Tours has now survived its first five southern winters, attracting tourists from all over the world. We asked Kate to tell us a bit about their inspiring story and what it’s like to be in business as a couple.

NZE: Kate, can you please tell our readers a bit about Revolution Tours?

Revolution Tours run a fully guided and supported luxury biking and walking tour, starting in Queenstown and finishing in Paradise. The tour comprises three days of cycling and one day of walking on the Routeburn Track with guests staying in historic lodge accommodation. We aim to give clients a personalised, rural experience where everything is taken care of- all clients have to do is turn up, ride their bike and have fun. If people feel they need a break from riding at any stage we have a support vehicle close by.

We are based in Glenorchy, 50km north-west of Queenstown at the head of Lake Wakatipu. Our customers tend to be over 50’s, active, interesting people who enjoy cycling and tramping but want the creature comforts at the end of the day- hot tub, warm shower, a delicious hearty meal, a wine in front of a roaring fire.

NZE: What entrepreneurial experience did you have prior to starting Revolution Tours and how did the business come into being?

Matt was a born entrepreneur, buying and selling Laser sailing dinghies as a twelve-year-old! In Auckland, he started an industrial abseiling business and ran that for three years before selling it to go travelling. Matt has a Diploma in Outdoor Recreation Leadership and coupled with our joint love of mountain biking and living in Queenstown, running a cycle tour company was a natural progression. We love Glenorchy/Paradise and introducing people to the area.

NZE: What have been your three biggest challenges in getting the business to where it is now?

Finance for start-up: We started our business in 2011 in the wake of the Global Financial Crisis. Needless to say, the banks were less than enthusiastic about loaning us money to start a business. It was hugely frustrating having a great idea but getting knocked back.
Marketing: Our marketing budget is pretty small so we’ve had to get creative and inventive with our marketing and advertising.
Creating a work/life balance: Stepping back and taking time out has been a challenge especially as Revolution Tours is our baby. We’ve moved our business out of our house which has helped as I’m no longer surrounded by 30 odd bikes and gear.

NZE: What have been the achievements you’re most proud of so far?

Continually exceeding customer’s expectations is a huge achievement for us. Most of our clientele are well-travelled people and when they feedback that our trip was the best they’ve ever experienced makes us quite proud. Matt was extremely proud of Kate for winning her Rural Women in business award last year.

NZE: You were a finalist and winner in the 2015 Enterprising Rural Women Awards. Can you tell us a bit about that?

Rural Women New Zealand (RWNZ) was established over 90 years ago as a charitable, membership-based organisation which supports people living in rural communities. Support comes in the form of advocacy, friendship, education & events.

I won the ‘Stay, Play Rural’ category (Hospitality and Tourism) of the Enterprising Rural Women Awards 2015 – the RWNZ Glenorchy branch encouraged me to enter and I was so chuffed to win. Having that support and encouragement from RWNZ meant so much and it was great to meet other rural business women. It was also an opportunity to take a step back and reflect on achievements over the last five years.

NZE: You live in Glenorchy, one of the most beautiful parts of New Zealand and many people would wish they could do the same. Was moving from Auckland a difficult transition and do you have any advice for others looking to set up business in the Queenstown Lakes District?

The transition was more difficult that I anticipated – we really missed our family and friends but loved the lifestyle in Queenstown Lakes so were determined to make it work. Glenorchy is a very welcoming town and we got to know people pretty quickly. Fortunately, we have a steady stream of visitors from Auckland! Building professional relationships is very important here and it’s obviously a lot more casual (swap the power suit for a Swandri!) It’s more chats over a gumboot tea and a biscuit than power lunches.

NZE: Many experts believe starting a business as a couple is a recipe for disaster, as it can place a lot of pressure on relationships. What are the biggest challenges of running the business as a couple and how do you deal with them?

We were advised by quite a few people not to go into business together – that it would spell the end of our relationship. I approached a couple who ran a successful business together & asked them for pointers. (Thanks, Scott and Natasha Rice of Quantum Events!) They gave us invaluable tips that we still work by today.

Set a definite finish time so there’s a clear line between business and personal life
Fight fair (don’t bring personal issues into a business debate)
No business talk in the bedroom
The biggest challenge of working together is that our brains work very differently. Matt has a very creative brain and loves to work in a hammock with the music blaring whereas I need a desk and complete silence.

Letting go and letting someone do things a different way is challenging. Fortunately, that ‘someone’ is my partner, someone I trust implicitly, is completely invested and gives 110%.

NZE: What’s the goal for Revolution Tours over the next few years and what key challenges are you working on right now?

We aim to continue to grow the cycle tour business for the summer months. We’re currently working on a winter tour due to high demand from returning customers. Fingers crossed, this will be launching in the next twelve months. One of the biggest challenges for the cycle tour business is convincing clients to come on a tour outside of March – we have some perfect cycling weather in November, December, Jan, February and April.

NZE: Given everything you’ve learnt so far, what would your top three pieces of advice be for others thinking of quitting their jobs and starting their own business?

Clients feed off your enthusiasm so start a business that you love, something you would do even if you weren’t being paid for it. It does tend to consume your life so make sure the passion for your product is there.

Do your research – is there a market for your product? Make sure people want to buy what you’re selling.
When people tell you it is stressful, tiring and all encompassing, believe them!
Surround yourself with people business people you wish to be like – a great way to connect, build relationships and stay inspired.

Find out more about Revolution Tours at www.revolutiontours.co.nz and www.facebook.com/revolutiontours

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Shareholders Association calls for change at NZX

The NZSA is pushing hard to stop notices on the NZX from being removed so soon.

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Auckland Airport over-earning, ComCom says

Watchdog’s review will have implications on profit.

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Saturday, 18 June 2016

Spark responsible for low Pandora uptake in NZ

In this week’s special double shot edition of the Sunday Business podcast, Andrew Patterson talks to Pandora’s Sara Clemens on the on-demand music service entering NZ. With special feature audio.

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Top tips to become a better leader

In this week’s special double shot edition of the Sunday Business podcast, Andrew Patterson talks to award-winning American business coach Marshall Goldsmith. With special feature audio.

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Friday, 17 June 2016

MARKET CLOSE: NZ shares decline as investors fret over looming Brexit vote

The S&P/NZX 50 Index shed 41.51 points, or 0.6 percent, to 6,847.06.

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NZ dollar heads for 0.2% weekly dip as Brexit vote keeps markets nervous

The kiwi traded at 70.41 US cents at 5pm in Wellington from 70.55 cents on Friday in New York last week.

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Reckitt Benckiser cuts goodwill in year when Nurofen packaging scrutinised

The Auckland-based consumer goods distributor cut $51.8 million from goodwill.

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Callaghan conflicts of interest stymie funding for agritech aimed at reducing nitrate leaching

Bert Quin and Geoff Bates teamed up in 2013 to form Pastoral Robotics.

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Watson company launches $10m IPO

A New York-based drinks company whose shareholders include Eric Watson and a trust associated with his Hanover co-founder Mark Hotchin wants to raise $US10 million from investors.

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Thursday, 16 June 2016

Climate scepticism distracts us from making the right choices

OPINION: Response to ‘Evidence doesn’t support rapid future sea level rise’.

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EMA labels Treasury-funded report on 90 day trial ‘propaganda'

Treasury-funded report from an external research company uses ‘crude’ measurements, EMA chief executive Kim Campbell says. With special feature audio.

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NZ consumer confidence recovers in June as more jobs, rising house prices lift sentiment

The ANZ-Roy Morgan consumer confidence index rose to 118.9 from 116 in May.

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British American Tobacco scales back NZ business to distribution

The restructure reduced the company’s wage bill.

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EU continues to pump more milk even amid weak dairy prices, Fonterra says

Milk production in the EU rose 7 percent in March compared with the same month a year earlier. With special feature audio.

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Trilogy's placement, Business Bakery selldown 'significantly' oversubscribed, reach $50m target

Trilogy shares were unchanged at $4 when they resumed trading today. With special feature audio.

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Spierings reshuffles Fonterra management team again, creates new consumer, foodservice unit

Theo Spierings has reshuffled the roles of some of his top managers for the third time in a year in changes he says will sharpen the commercial and customer focus at the world’s largest dairy exporter. With special feature audio.

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Ninety-day trial period has no impact on firms' hiring, Motu researchers say

The paper by Motu’s Nathan Chappell and Isabelle Sin also found no evidence the policy increased the chance a firm will employ a disadvantaged jobseeker. With special feature audio.

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Carry on: Orbit goes global, Flight Centre goes virtual and more

The business travel roundup also includes Kiwis flocking to Hawaii, a new non-stop Singapore-San Francisco service and Dreamliners to Tonga. With special feature audio.

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NZ dollar hits three-year low against yen

The kiwi hit 72.28 yen overnight.

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Working On a Big Idea?

IRD R&D Tax Credit

There’s a New R&D Loss Tax Credit that Could Help

Big ideas can take on a life of their own. They demand a lot of attention – filling your days and keeping you up at night. They can also soak up a lot of money. That’s where the new Research and Development (R&D) Loss Tax Credit could help. We all know that Kiwis have a huge amount of know-how, motivation, creativity and determination. Taking a good idea from a rough sketch to a real thing takes more than just time and energy. It also takes a significant investment.

That’s why the Government has introduced the R&D Loss Tax Credit – to help improve your cash flow. That way you’ll have money at hand to keep working on your big idea when you need it most. Once you’ve got something to sell, and have money coming in, your success will make all of your hard work worthwhile. You are not alone in wanting to succeed. Innovation is crucial to New Zealand. New knowledge gained as the result of research and development can lead to new processes, new materials and new jobs. The new products and devices that currently live in your imagination could give us a competitive edge and boost the economy. That’s why Government is committed to encouraging research and development. And it all starts with people like you, making big ideas happen.

Cash to Keep Creating

The new R&D Loss Tax Credit aims to ease the financial challenge for innovative companies like yours by helping you to access some of your tax losses sooner. Eligible companies could get up to 28% of their tax losses from research and development returned to them. Having access to this money could be a real lifeline for businesses, helping them to continue getting their big ideas ready for the world.

Don’t Miss Out, Find Out if you’re eligible today

If your company meets eligibility criteria, you can start claiming back tax losses from the 2015/16 tax year. To find out if your company is eligible, and apply online now, visit www.ird.govt.nz/rd-credit. If you think your company might be eligible, don’t delay. To receive a R&D Loss Tax Credit, you must submit your application to Inland Revenue before your income tax filing due date for the 2015/16 tax year. Make sure you don’t miss out. Go online now to find out if you’re eligible.

Apply now at www.ird.govt.nz/rd-credit

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Wednesday, 15 June 2016

MARKET CLOSE: NZ shares rise as A2 Milk lifts guidance, Spark bounces back

The S&P/NZX 50 Index advanced 34.6 points, or 0.5 percent, to 6,869.56.

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NZ dollar recovers from week-low ahead of FOMC, NZ GDP as Brexit looms

The kiwi rose to 70.17 US cents from as low as 69.63 cents earlier in the day and from 70.27 cents late yesterday. With special feature audio.

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Goodring, Betterlife fined $171,500 as regulator expands crackdown on truck-shop operators

Goodring was fined $98,000 for breaches of the CCCFA.

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A2 Milk shares jumped 14% on improved guidance

Shares in A2 Milk hit a record high of $2.61 in trading on Feb. 17 but have since fallen back on worries about Chinese regulations.

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Trustpower-controlled King Country Energy reports $8.1m profit

The company, which operates four hydro stations in the King Country and one in Manawatu, is now controlled by Trustpower, which built up a 65 percent stake in the business over the summer.

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Editor's Insight: How the Fourth Revolution will transform primary industries

Rapid change is coming despite many thinking the old ways will continue. With special feature audio.

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National Fieldays pushes glamour, high rewards for agribusiness careers

Richie McCaw is among high achievers wanting to remove stigma from working on the farm. With special feature audio.

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Air NZ to join in discounted Virgin Australia rights offer

Virgin Australia today said it will sell shares at 21Ac apiece.

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Foley Family Wines pays growers early for record 2016 vintage

The winemaker will pay growers the final instalment in May instead of July as it benefits from a 31% increase in the 2016 grape harvest to a record 6954 tonnes.

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A2 Milk lifts guidance for full-year sales, earnings as trading exceeds targets

A2 shares jump 17% in morning trading following profit upgrade

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Tuesday, 14 June 2016

MARKET CLOSE: NZ shares drop in wide-ranging selloff; Summerset, Air NZ, Xero fall, Spark gains

The S&P/NZX50 Index fell 89.32 points, or 1.3 percent, to 6834.95.

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NZ dollar weakens on worries recent rally overdone

The kiwi slipped to 70.29 US cents, from 70.44 US cents at the start of the day and from 70.34 cents late yesterday. With special feature audio.

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Waste Management NZ ownership juggles between mainland China and Hong Kong

Hong Kong-based Capital Environment Holdings shareholders will vote next week on a deal that would see the company buy a 51% stake in Waste Management NZ for $US234.4 million.

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10 Questions with Hamish Acland of Mons Royale

Mons Royale Advertising Campaign

In 2006, after years of living out of a bag while travelling the world on the pro freeskiing circuit, Wanaka’s Hamish Acland wondered why his thermal underlayers could not be as fashionable as they were functional. Three years later, Hamish and his now wife and co-founder Hannah shipped the first orders of Mons Royale merino wool performance wear and the brand is now stocked in over 400 retail outlets worldwide and is even worn by the NZ Olympic team. Splitting his time between offices in Switzerland and Wanaka, we asked Hamish to share his story.

NZE: What’s the story behind Mons Royale, how did you come up with the idea and how did you get it started?

As a professional skier, I travelled the world out of a ski bag and I noticed that I wouldn’t want to wear the merino base layer that I had at the time other than on the mountain. This led to the idea of creating a brand that designed technical products that could be worn as easily on the mountain as off. It seems obvious now but at the time, the outdoor industry was all about making everything look like it was for climbing Everest.

I wrote what you might call a brand blueprint, and how the brand would develop over the first years. Focusing on the gap in the market and how to differentiate itself against what was an established category. At the end of 2008, I had developed samples, and had sold into NZ retailers. It was then I met Hannah Aubrey, my now wife, Hannah was just back from a three-year stint in New York at an idea led innovation company. We headed to the ISPO trade show to present the line and while there realised that the original translation wasn’t quite right, so we stalled production and Hannah re-designed all of the graphics and identity in a week.

In 2009 we shipped the first orders to I think five retailers in that first winter, and we had enough stock for 30. So when we got a shop calling, wondering if we had stock, we easily said yes. We had pretty good sales for a year one and through my ski sponsor Volkl my team manager introduced me to a Swiss Retailer and Distributor and we shipped our end of line to his two stores. It sounds lucky but we already had both German and French translation on the packaging and by the next ISPO Trade Show in Munich we picked up two more distributors and we were on a roll.

NZE:And what made you think you could build a successful business?

Back in 2005 I set up the Free Ski Open NZ, the event attracted the world’s best skiers and sponsors saw the potential to make viable. Interestingly the event was not my own but for a not for profit ‘freeskiing association’. I was extremely passionate about it, made next to nothing and didn’t really help my ski career but it taught me a huge amount. It also proved the advantages of running a global business from New Zealand.

My family has also played a bit part, looking back I grew up in an entrepreneurial environment, I come from that sort of family where you are always looking at designing a better way, solving a problem.

The action sports community had a big effect, it was really emerging through my teens, and I saw first hand the emergence of snowboarding the industry and opportunity that came with it, then energy drinks like Red Bull and as I was growing up it in through my skiing, it seemed very natural that I would go into business within the industry.

NZE: Looking back, if you could go through the start up process all over again, what three things would you do differently?

I would have invested more resource into social media, that would have been when there were less brands active in the space and the return on investment was exponentially far greater. Doing this we would have also gained better insights from the Mons Royale early adopter fan base. Which leads me to e-commerce… we should have done more in this channel to simply learn more about our fans. Which is similar to my final point, I wish we had set up with our own office or people on the ground in Europe from the start. I don’t mean this from the perspective of increasing revenue, but more to truly understanding the markets we export to.

NZE: What skills as a professional freeskier, do you believe have served you as an entrepreneur?

Firstly, to be single-mindedly focused on the goal and secondly, my professional career was more ‘glorified ski bum’. I travelled the world sleeping on couches living out of a ski bag, I competed against guys that were backed with bigger budgets, slept in nicer hotel rooms and were superstars of their countries. Which is pretty similar to starting Mons Royale – the cool thing is many of my friend’s couches had turned into beds.

NZE: Do you think Kiwi’s have a healthy attitude towards wealth and the creation of wealth? Why or why not?

I had to google the definition of wealth, it gives two definitions: ‘an abundance of valuable possessions or money’ and secondly ‘a plentiful supply of a particular desirable thing’. I like the second definition because it could mean the amount of days you spend on the mountain not the size of your flat screen TV. It seems Kiwis are doing more activities than ever, so I think we have a good attitude to wealth in that respect.

NZE: What does success mean to you? Has what it means to you changed since you first started the business?

It is getting to that point that you have blurred the lines between business and passion. I read somewhere that the founder of Rip Curl saw success when they were getting to create a film, with the best surfers and they knew they were inspiring people. Or something to that effect. To me it’s pretty rad to think that through a business you can create for the bottom line, have people work to a common goal, be creative and inspire.

NZE: Starting and building a business is one of the most stressful things most people are ever faced with – what do you do to cope with stress?

It is also one of the most satisfying things you can do which I think is the best way to balance it. One way I cope with it is having a daily routine, part of that is starting work before the majority which gives me the feeling of being on the front foot. And now just reminding myself of how many ‘stressful’ scenarios I have gotten through. Actually looking back, I think probably had full panic attacks. I remember puking in the shower once just feeling so shit. One thing that I did do is read so many business books – everything I could to give me knowledge that I could put into action.

NZE: New Zealand’s international success and wealth to date has largely been built on the back of our agricultural sector. Apart from agriculture, where do you think our next best competitive advantage lies is if we are to carve out a niche for ourselves in the years ahead?

I am not too sure really. I guess we will be successful if we follow our passions not just go where we think the next quick win is.

NZE: Do you believe anyone can be a successful entrepreneur? Why or Why not?

If a person wants to be an entrepreneur, yes. How successful probably comes down to their resilience and maybe if they started young enough to give themselves time to fail more often and at lower risk. I think we need students rolling the dice straight out of school and doing it multiple times so by the time they have hit say thirty years old, they have the experience to get it right with the right idea.

NZE: What advice would you give to readers who might have an idea but aren’t sure how to turn it into a business?

Someone will have tried to do your idea or something somewhat similar, study as many of them as possible and find out how they made their first steps. It’s not to say you should follow them, but there is often far more information out there than we expect.

Visit www.monsroyale.co.nz or www.facebook.com/monsroyale to find out more about Mons Royale

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