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Latest Business Headlines

Auckland Airport's duty free told to drop the hard sell

Thursday, 23 October 2014, 5:49 pm | BusinessDesk

Oct. 23 (BusinessDesk) - Auckland International Airport, the country’s main gateway, said it had talked to its two duty free retailers following what it called “over-zealous competition” at the airport. More >>

MARKET CLOSE: NZX 50 climbs to new record, led by RBD

Thursday, 23 October 2014, 5:35 pm | BusinessDesk

Oct. 23 (BusinessDesk) - New Zealand shares rose to a new record close, led by Restaurant Brands New Zealand after the country's biggest fast-food operator boosted its annual earnings guidance. Spark New Zealand pace gains as investors sought defensive stocks ... More >>

WA Super Now Accept KiwiSaver Contributions

Thursday, 23 October 2014, 5:31 pm | WA Super

Australian superannuation fund WA Super is thrilled to announce they will accept eligible contributions transferred from KiwiSaver accounts effective as of October 23, 2014. More >>

Commodore Hotel ‘goes it alone’

Thursday, 23 October 2014, 5:24 pm | Commodore Airport Hotel

Christchurch’s Commodore Airport Hotel will begin trading independently from November 1, following the conclusion of an 18- year franchise association with Millennium Hotels. More >>

2014 annual meeting shareholder poll results

Thursday, 23 October 2014, 5:23 pm | Auckland Airport

The annual meeting of shareholders of Auckland International Airport Limited was held today at the Vodafone Events Centre in Manukau, Auckland. All resolutions put to the meeting were passed by shareholders. Full details of the polls conducted are ... More >>

RESEND: NZ dollar falls as benign inflation weighs on kiwi

Thursday, 23 October 2014, 5:19 pm | BusinessDesk

Oct. 23 (BusinessDesk) - The New Zealand dollar fell after figures showed inflation in the third quarter was slower than the Reserve Bank had forecast, giving it less reason to resume raising interest rates after pausing its tightening cycle in July. More >>

Fonterra starts consultation on two new SI milk driers

Thursday, 23 October 2014, 5:18 pm | BusinessDesk

Oct. 23 (BusinessDesk) - Fonterra Co-operative Group, the world's biggest dairy exporter, has begun a consultation process prior to lodging consent applications to build two new high-efficiency milk powder driers at its Studholme site in South Canterbury. More >>

Auckland should raise its Uniform General Charge

Thursday, 23 October 2014, 5:15 pm | Employers And Manufacturers Association

The big increases in property valuations reported today would have far less impact on rates increases and decreases if Auckland Council raised the Uniform Annual General Charge (UAGC), the Employers and Manufacturers Association says. More >>

NZ dollar falls as benign inflation data weighs on kiwi

Thursday, 23 October 2014, 5:05 pm | BusinessDesk

Oct. 23 (BusinessDesk) - The New Zealand dollar fell after figures showed inflation in the third quarter was slower than the Reserve Bank had forecast, giving it less reason to resume raising interest rates after pausing its tightening cycle in July. More >>

Hyundai Genesis highest safety score in ANCAP history

Thursday, 23 October 2014, 5:04 pm | Hyundai New Zealand

Genesis, Hyundai New Zealand’s new flagship luxury sedan, has achieved the highest score in the 21-year history of ANCAP testing – 36.88 points out of a possible 37 and a maximum 5 star ANCAP safety rating. A 5 star safety rating is ANCAP’s ... More >>

Magic Memories creates new experiences for guests & partners

Thursday, 23 October 2014, 5:01 pm | Magic Memories

Queenstown-based photographic solutions company, Magic Memories, is celebrating the success of two new guest experiences developed in partnership with international entertainment giant, Merlin Entertainments. More >>

Automobile Association office sets new record for Wanganui

Thursday, 23 October 2014, 4:49 pm | Bayleys

The sale of Wanganui’s newly-built Automobile Association office has set a new yield record for commercial property in the city. More >>

Colliers International Workplace Report 2014

Thursday, 23 October 2014, 4:46 pm | Colliers International

Elbows in – the squeeze is on at work. The latest biennial workplace report on occupational trends in CBD office markets by Colliers International shows tenants are squeezing in more workers than in previous years as rents begin to rise in most ... More >>

Minister of Defence Awards of Excellence to Industry

Thursday, 23 October 2014, 4:20 pm | New Zealand Defence Industry Association

Wellington, Oct 23 – Daronmont Technologies Ltd was adjudged winner in Category A for the provision of excellent equipment to Defence at the NZ Defence Industry Association Forum held on October 21-22 at the Michael Fowler Centre in Wellington. ... More >>

CarbonScape seeks $1.5M from crowd with 'green coke' offer

Thursday, 23 October 2014, 4:12 pm | BusinessDesk

Oct. 23 (BusinessDesk) - CarbonScape, which makes "green" coking charcoal, wants to raise as much as $1.5 million from equity crowd funding to commercialise its product for the steel manufacturing market. More >>

Fonterra Looking to Strengthen South Canterbury Processing

Thursday, 23 October 2014, 4:04 pm | Fonterra

Fonterra has started the consultation process with the view of lodging consent applications to build two new high-efficiency milk powder driers at its Studholme site in South Canterbury. The proposed investment would bring a significant boost to milk processing ... More >>

Port of Tauranga sees annual earnings growth up to 6.1%

Thursday, 23 October 2014, 3:56 pm | BusinessDesk

Oct. 23 (BusinessDesk) - Port of Tauranga, the country's biggest coastal export hub, sees annual earnings growth of up to 6.1 percent and expects to finish plans to enable big ships to dock at its wharves over the coming year. More >>

New Zealand inflation still low: Downside surprises continue

Thursday, 23 October 2014, 3:35 pm | HSBC Bank

New Zealand Q3 CPI came in lower than expected, the annual rate falling from 1.6% to 1.0% (market expected 1.2%) – at the bottom of the RBNZ’s target band and below their forecast for +1.3%. The major slowdown in price pressures came in tradable ... More >>

CRP issues business plan guidance

Thursday, 23 October 2014, 3:31 pm | Chatham Rock Phosphate

Introduction For commercial reasons Chatham Rock Phosphate has refrained from publishing detailed information of both its marketing strategy and other sensitive aspects of its business plan including prospective future profitability. However, in the context ... More >>

BNZ CEO Healy calls on business leaders to help improve NZ

Thursday, 23 October 2014, 3:20 pm | BusinessDesk

BNZ chief executive Healy calls on business leaders to help fix five key NZ challenges More >>

Taupo DeBretts One Of The Top Five Holiday Parks In NZ

Thursday, 23 October 2014, 3:20 pm | DeBretts

Hot pools, outstanding customer service and family-friendly facilities is what to expect when you come and stay at Taupo DeBretts Spa Resort . More >>

Auckland Airport confirms earnings guidance of $160-$170 mln

Thursday, 23 October 2014, 3:08 pm | BusinessDesk

Oct. 23 (BusinessDesk) - Auckland International Airport, the country’s main gateway, has confirmed it’s likely to deliver an underlying net profit of between $160 million and $170 million this financial year, in line with the guidance it gave in August. More >>

Elders Primary Wool, Primary Wool buy Christchurch Yarns NZ

Thursday, 23 October 2014, 3:03 pm | BusinessDesk

Oct. 23 (BusinessDesk) - NZ Yarn, a joint venture between Elders Primary Wool and Primary Wool Cooperative, have bought Christchurch Yarns NZ out of receivership for an undisclosed amount. More >>

Sweet Win for Esk Valley at Hawkes Bay A&P Wine Awards

Thursday, 23 October 2014, 2:56 pm | Esk Valley

Esk Valley Estate was awarded the Trophy, sponsored by Hurford Parker Insurance Brokers, for the Champion Sweet Wine at the Hawkes Bay A&P Wine Awards. These awards are the oldest, regional wine competition in the country and celebrate Hawke’s Bay ... More >>

RBNZ risk management to protect system, not individual firms

Thursday, 23 October 2014, 2:44 pm | BusinessDesk

Oct. 23 (BusinessDesk) - The Reserve Bank's risk management processes aim to protect the integrity of the entire financial system rather than individual entities, which should be allowed to fail to avoid moral hazard and inefficiency, the regulator says. More >>

NZ Yarn acquires Christchurch Yarns

Thursday, 23 October 2014, 2:26 pm | Elders Primary Wool

In a joint release, NZ Yarn and the Receiver for Christchurch Yarns have today announced the NZ Yarn offer has gone unconditional in acquiring the business of Christchurch Yarns. More >>

Chairman and Chief Executive’s addresses 2014

Thursday, 23 October 2014, 2:23 pm | Auckland Airport

It is my pleasure to be here today – as this is my first annual meeting as your new Chairman. More >>

Fletcher Building helping rebuild Christchurch

Thursday, 23 October 2014, 2:19 pm | Fletcher Building

Fletcher Building will construct 237 new homes in Christchurch over the next two years following the company’s appointment as preferred development partner for the Awatea/Carrs Rd Housing Development. More >>

New guidelines to improve visiting driver safety

Thursday, 23 October 2014, 2:17 pm | Tourism Industry Association

Best practice guidelines have been developed for rental vehicle operators to help educate international visitors on driver safety. More >>

Cavalier Wool Holdings merger with NZWSI

Thursday, 23 October 2014, 2:06 pm | Commerce Commission

The Commerce Commission has received an application from Cavalier Wool Holdings Limited (Cavalier) seeking authorisation to acquire New Zealand Wool Services International Limited’s (WSI) wool scouring business. More >>

International Awards Coup for Hamilton Printing Company

Thursday, 23 October 2014, 2:04 pm | Admark Visual Imaging

The awards keep rolling in for Hamilton-based printing company, Admark Visual Imaging, winning overnight four international awards. More >>

ANZ gets behind Grand Designs New Zealand

Thursday, 23 October 2014, 1:31 pm | ANZ New Zealand

ANZ New Zealand and TV3 have formed a production partnership to create the New Zealand version of the hit British show Grand Designs , the bank announced tonight. More >>

The Most Epic Safety Video Ever Made takes flight on Air NZ

Thursday, 23 October 2014, 1:21 pm | Air New Zealand Public Affairs

Dwarves, Orcs and Elves take flight once again as Air New Zealand unveils The Most Epic Safety Video Ever Made ahead of the December release of the final film in The Hobbit Trilogy, The Hobbit: The Battle of the Five Armies, a production of New Line ... More >>

$8 Billion Tech Industry Shows Record Growth

Thursday, 23 October 2014, 1:20 pm | Technology Investment Network

New Zealand ‘s Tech Export Sector’s revenue has increased by 62% over the last decade to a record $8.3Billion, says the Technology Investment Network in its tenth annual TIN100 Report released today. The report measures the performance of the New ... More >>

Hamilton Retailer Wins National Recognition

Thursday, 23 October 2014, 1:10 pm | Service IQ

Ashley works at Liquor King Hillcrest, in Hamilton, and has completed his ServiceIQ National Certificate in Retail Level 2. More >>

BioGro Assists New Zealand Organic Exporters

Thursday, 23 October 2014, 12:34 pm | BioGro

BioGro is New Zealand’s leading organic certification agency holding eight internationally recognised accreditations supporting New Zealand’s export growth. BioGro is the leading certifier for a number of organic industries including kiwifruit and viticulture ... More >>

Pyne Gould sells Epic stake after failing to gain control

Thursday, 23 October 2014, 12:34 pm | BusinessDesk

Oct. 23 (BusinessDesk) - Pyne Gould Corp, the asset management firm controlled by managing director George Kerr, has sold its 27 percent stake in Equity Partners Infrastructure Co No 1 after failing to take control of the investment company and oust its board. More >>

NZ dollar drops after tepid inflation opens path lower

Thursday, 23 October 2014, 12:28 pm | BusinessDesk

Oct. 23 (BusinessDesk) - The New Zealand dollar fell about half a US cent after tepid local inflation pushed out the likely timeline for future interest rate hikes and cleared the way for a lower currency. More >>

Samsung donates 3,000 smartphones for fight against Ebola

Thursday, 23 October 2014, 12:20 pm | Samsung

Samsung Electronics Co., Ltd. today announced that the company will donate 3,000 smartphones, worth about USD 1 million, to support the ongoing fight against Ebola. The smartphones, to be donated through the United Nations Office for the Coordination ... More >>

Finance company failure in New Zealand was predictable

Thursday, 23 October 2014, 12:18 pm | University of Otago

Thursday 23 October 2014 Annual reports and other public disclosures contained enough information to predict more than 80% of New Zealand finance company failures that occurred during the recent financial crisis, a study led by the University of Otago ... More >>

Kiwifruit Claim Responds to Scaremongering Campaign

Thursday, 23 October 2014, 12:14 pm | The Kiwifruit Claim

Thirty percent of gold kiwifruit growers by volume are now pledged to participate in The Kiwifruit Claim, its chairman, John Cameron, said today. Over 15% of gold growers have already completed the sign-up process and paid their one-off capped ... More >>

Revolutionary Kiwi company goes to the crowd

Thursday, 23 October 2014, 12:13 pm | Carbonscape

October 23, 2014 (with pix): A New Zealand company with technology that could slash global greenhouse gas emissions is inviting the public to invest. More >>

Bedding down for success - Naked Bus launches new Sleeper

Thursday, 23 October 2014, 12:08 pm | Naked Bus

Kiwi travel company Naked Bus is en route for success with the launch of its new Sleeper service, introducing lie-flat beds for customers travelling between Auckland, Hamilton, Palmerston North and Wellington. More >>

Fletcher wins govt contract to build 237 homes in Chch

Thursday, 23 October 2014, 12:03 pm | BusinessDesk

Oct. 23 (BusinessDesk) - Fletcher Building has won a contract to build 237 homes on an 11.5-hectare Crown-owned site in Christchurch, including 89 which will be priced below $400,000, Housing Minister Nick Smith said. More >>

New Zealand launches new business events advocates programme

Thursday, 23 October 2014, 11:58 am | Tourism New Zealand

Over the past year New Zealand has played host to everyone from geophysists to private detectives, doctors to journalists, thanks to the support of Tourism New Zealand’s (TNZ) business events programme. More >>

Inspiring Kiwis Needed to ‘Keep the Good Going’

Thursday, 23 October 2014, 11:40 am | Hubbards

Hubbards is on the lookout for everyday Kiwis doing good deeds in their community as a nationwide initiative launches to ‘keep the good going’ by recognising and rewarding thousands of New Zealanders. More >>

Cloud Nine products now available at The Engine Room

Thursday, 23 October 2014, 11:40 am | The Engine Room

Are you sick of searing heat and frazzled ends from your hair straightener? Hamilton Hairdressers, The Engine Room have the answer with Cloud Nine Hair Straighteners. Cloud Nine have ushered in a new era of healthy, stylish and inspired looks with ... More >>

Maori and Pacific Programme Production

Thursday, 23 October 2014, 11:35 am | TVNZ

TVNZ has today announced its intention to invite independent producers to take on production of all its Maori and Pacific programmes from next year, with the exception of Te Karere. More >>

Pixar co-founder to launch Project Connect

Thursday, 23 October 2014, 11:28 am | AUT University

Co-founder of Pixar and Altamira – Dr Alvy Ray Smith is coming to New Zealand to launch Project Connect , a new series of quarterly networking events. The computer graphics pioneer and Academy Award Winner will host two events in Auckland on December ... More >>

Famous New Zealanders join Bright Sparks 2014

Thursday, 23 October 2014, 11:18 am | Bright Sparks

Sir Ray Avery and Michelle Dickinson will each play a part at the Bright Sparks 2014 awards ceremony in Auckland on October 30. Sir Ray - a successful businessman, scientist, inventor and philanthropist - will deliver a keynote address to the 22 Bright Sparks ... More >>

Restaurant Brands raises annual profit forecast; shares jump

Thursday, 23 October 2014, 11:07 am | BusinessDesk

Oct. 23 (BusinessDesk) - Restaurant Brands New Zealand, the nation's largest fast food operator, raised its annual profit forecast as it benefits from lower input costs, higher sales and restructuring of stores. The shares rose to a record. More >>

Revolutionary Kiwi company goes to the crowd

Thursday, 23 October 2014, 11:05 am | Carbonscape

A New Zealand company with technology that could slash global greenhouse gas emissions is inviting the public to invest. Marlborough-based CarbonScape is the latest company to raise capital through the new crowd-funding platform Snowball Effect, to build ... More >>

Goodyear and Dunlop tyre products given efficiency tick

Thursday, 23 October 2014, 11:00 am | Dinniss

The New Zealand government agency, the Energy Efficiency and Conservation Authority (EECA), has identified 186 tyres as fuel efficient as part of its new ENERGYWISE programme. Of these products, 101 are Goodyear or Dunlop branded passenger and SUV ... More >>

NZ 3Q inflation misses expecations; kiwi drops

Thursday, 23 October 2014, 10:56 am | BusinessDesk

Oct. 23 (BusinessDesk) - New Zealand inflation was steady in the third quarter of the year, slowing the annual pace of price increases, and raising the prospect of interest rates staying lower for longer after the data fell short of expectations. ... More >>

CPI rises 0.3 percent in September quarter

Thursday, 23 October 2014, 10:49 am | Statistics New Zealand

The consumers price index (CPI) rose 0.3 percent in the September 2014 quarter, Statistics New Zealand said today. This is the third consecutive quarterly rise of 0.3 percent. More >>

Hyundai Genesis lifts the active safety bar – AA

Thursday, 23 October 2014, 10:47 am | Automobile Association

Hyundai’s luxury offering to the market, the Genesis sedan will reach New Zealand with a 5 star Australasian New Car Assessment Programme (ANCAP) rating. The large car is the latest rated Hyundai to achieve the maximum ANCAP safety rating for a ... More >>

New Zealand Petroleum Exploration and Mining Permits Map

Thursday, 23 October 2014, 9:47 am | Freeman Media

The next edition of the New Zealand Petroleum Exploration and Mining Permits map is available now. This edition features numerous permit work programme changes including to timelines for drilling work and seismic acquisition, several permit surrenders ... More >>

Wheeler says LVR policy worth 25-50 basis points off OCR

Thursday, 23 October 2014, 9:47 am | BusinessDesk

Oct. 23 (BusinessDesk) - The Reserve Bank's introduction of limits to low-equity mortgage lending last year had a similar impact on inflation as raising the official cash rate by as much as 50 basis points, governor Graeme Wheeler told a global banking ... More >>

NZ dollar falls ahead of inflation on prospect of low rates

Thursday, 23 October 2014, 8:39 am | BusinessDesk

NZ dollar weakens ahead of 3Q inflation on speculation interest rates to stay on hold More >>

While you were sleeping: Boeing shares, oil drop

Thursday, 23 October 2014, 7:38 am | BusinessDesk

Oct. 23 (BusinessDesk) - Wall Street slid paced by Boeing as investors worried about expenses for its 787 Dreamliner passenger jet, while oil fell after a report showed US inventories rose more than expected last week. More >>


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