12 May 2015

Business Briefs

2:02 pm on 12 May 2015

A round-up from Radio New Zealand's business reporter;Snakk secures funding to expand, ANZ CPI gauge shows slight fall and Mowbray gets stamp of approval.

Snakk secures funding to expand

Snakk has secured a $1.3 million rolling debt facility to give it the flexibility for expansion.

The company uses apps, games and social media to help businesses reach customers on their smartphones, tablets and other smart devices. It has recently hired three new staff members to meet the growing demand in Asia.

ANZ CPI gauge shows slight fall

Falls in the housing, miscellaneous goods and recreation and culture groups contributed to a 0.2 percent fall in ANZ's April Monthly Inflation Gauge.

Apart from the housing group prices were flat.

The gauge gives a signal of broad trends and movements in CPI inflation produced by Statistics New Zealand, but at a monthly frequency.

ANZ said prices in the gauge rose 1 percent in the three months to April.

Mowbray gets stamp of approval

Mowbray Collectables has a conditional agreement to sell its stamps, coins and notes business for nearly $1 million.

The sale to the former owner, John Mowbray, or his nominee Philcoin Investments.

Chairperson Murray Radford said a special shareholders' meeting would be held next month to consider the sale.