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Latest Business Headlines

Hanover settlement 'some comfort' for investors, Key says

Monday, 6 July 2015, 5:50 pm | BusinessDesk

July 6 (BusinessDesk) - The $18 million settlement reached between Hanover Finance's directors and promoters and the Financial Markets Authority should be of some comfort to investors in what has become a "better regulated" market, Prime Minister ... More >>

MARKET CLOSE: NZ shares fall on Grexit fears

Monday, 6 July 2015, 5:38 pm | BusinessDesk

July 6 (BusinessDesk) - New Zealand shares fell in a region-wide sell off as uncertainty over Greece's financial stability overshadowed equity markets. Dual-listed stocks such as Kathmandu Holdings, Westpac Banking Corp and Australia and New Zealand Banking ... More >>

NZ dollar holds near 5-year low before Hollande, Merkel meet

Monday, 6 July 2015, 5:31 pm | BusinessDesk

July 6 (BusinessDesk) - The New Zealand dollar traded near a five-year low ahead of a meeting between German Chancellor Angela Merkel and French President Francois Hollande today where they will discuss a possible response to Greece's rejection ... More >>

NZ economy doesn't need fiscal stimulus yet, Key says

Monday, 6 July 2015, 5:30 pm | BusinessDesk

July 6 (BusinessDesk) - New Zealand's economy is still fairly robust and doesn't need increased government spending to give it a kickstart, Prime Minister John Key says. More >>

Villa Getaways adds Luxury Villa in St Mary’s Bay, Auckland

Monday, 6 July 2015, 5:02 pm | Villa Getaways

Villa Getaways - Luxury Villas World Wide is proud to add St Mary’s Residence in Mary’s Bay, Auckland, New Zealand to their extensive range of highest calibre villas for a total luxury villa rental experience. More >>

NZ Merino secures $3M contract for Godfrey Hirst carpet

Monday, 6 July 2015, 4:24 pm | BusinessDesk

July 6 (BusinessDesk) - New Zealand Merino Co, which markets the nation's wool to customers on behalf of suppliers, has secured a $3 million contract to supply a merino wool blend to manufacturer Godfrey Hirst for a luxury carpet range. More >>

NZICA had 'aggressive' campaign to smear rival, lawyer says

Monday, 6 July 2015, 3:57 pm | BusinessDesk

July 6 (BusinessDesk) - The New Zealand Institute of Chartered Accountants engaged in "professional denigration" that was "quite extraordinary and offensive" against rival accounting body CPA Australia when it was at its most vulnerable in ... More >>

Simpson Grierson advises Marlborough Lines

Monday, 6 July 2015, 3:57 pm | Simpson Grierson

The Simpson Grierson team of Michael Pollard and Anastasiya Gutorova has recently advised Marlborough Lines Limited in its acquisition of Yealands Wine Group Limited. More >>

NZ shares kick off region-wide decline after Greeks say no

Monday, 6 July 2015, 3:49 pm | BusinessDesk

July 6 (BusinessDesk) - The New Zealand stock market kicked off a region-wide sell off as uncertainty over the future of Greece's financial stability stokes volatility in international markets and prompts investors to seek safe-haven assets. More >>

Hanover four say settlement was in investors' best interests

Monday, 6 July 2015, 3:32 pm | BusinessDesk

Hanover four say $18M settlement was in investors' best interests, court case would have failed More >>

Kiwis First in the World to Fuel Their Cars From Beer

Monday, 6 July 2015, 2:51 pm | Spark Activate

Kiwis First in the World to Fuel Their Cars From the by-Product of Beer More >>

Veeam Announces Enhanced ProPartner Program

Monday, 6 July 2015, 2:44 pm | Veeam Software

Auckland, New Zealand: 6 July, 2015 : Veeam® Software , the innovative provider of solutions that deliver Availability for the Modern Data Center™, today announced a series of enhancements to its Australia and New Zealand (ANZ) partner program. ... More >>

Motuoapa Marina redevelopment in consenting phase

Monday, 6 July 2015, 2:17 pm | Department Of Internal Affairs

Work to transform Lake Taupo’s Motuoapa Marina into a modern marina with improved launching and retrieval capabilities is now at the consenting phase. More >>

Comcom investigates PGG Wrightson over NAIT scheme fees

Monday, 6 July 2015, 2:05 pm | BusinessDesk

July 6 (BusinessDesk) - The Commerce Commission is investigating PGG Wrightson over the fees the rural services firm, which is controlled by China's Agria Corp, charged during the implementation of a national livestock tagging programme. More >>

MOD Resources' Sams Creek unit slashes project value

Monday, 6 July 2015, 2:03 pm | BusinessDesk

The owner of the Sams Creek Gold Project, which sits atop what could be New Zealand's biggest undeveloped gold deposit, has slashed the value of the resource and taken impairments of about $7.7 million after stopping work on the site last year pending ... More >>

RESEND: Eric Watson only one of Hanover group not to settle

Monday, 6 July 2015, 1:57 pm | BusinessDesk

RESEND: Eric Watson only one of Hanover directors and promoters not to contribute to $18M FMA settlement More >>

Forest Owner Appoints Two Experienced Directors to Board

Monday, 6 July 2015, 1:46 pm | Professional Public Relations NZ Ltd

Forest Owner Appoints Two Experienced Directors to Board OTPP New Zealand Forest Investments Ltd has announced the appointment to its board of two highly-experienced directors, Jane Taylor and Traci Houpapa. Company chairman Don Huse said today the ... More >>

Fletcher Building appoints Steve Vamos as new director

Monday, 6 July 2015, 1:32 pm | Fletcher Building

Fletcher Building appoints Steve Vamos as new director. Fletcher Building Limited announces that it has appointed Steve Vamos to the board. Mr Vamos will be an independent director and his appointment will be effective from today. He has also been appointed ... More >>

Toyota reclaims title of NZ’s most reputable company

Monday, 6 July 2015, 1:29 pm | Toyota New Zealand

Toyota reclaims title of NZ’s most reputable company in country’s longest running study More >>

More than one prize to aim for in farming competition

Monday, 6 July 2015, 1:01 pm | South Island Farmer of the Year

In addition to the top prize of a $20,000 travel fund, entrants in the 2015 Lincoln University Foundation’s South Island Farmer of the Year Competition will also be able to pitch for one of four special category prizes, with a cash prize of $5000 ... More >>

Eric Watson only one of Hanover directors not to settle

Monday, 6 July 2015, 12:50 pm | BusinessDesk

Eric Watson only one of Hanover directors and promoters not to contribute to $18M FMA settlement More >>

New Hospitality Report Released

Monday, 6 July 2015, 12:42 pm | Hospitality New Zealand

A new hospitality report, presented to Minister of Statistics and Minister for Small Business, the Honourable Craig Foss, by Hospitality New Zealand and Crowe Horwath, has identified three key drivers which are affecting New Zealand’s hospitality ... More >>

NZ Dollar Outlook: Kiwi may fall after Greek 'No' vote

Monday, 6 July 2015, 12:25 pm | BusinessDesk

NZ Dollar Outlook: Kiwi may fall as Greek 'No' vote adds downward pressure to rate outlook More >>

Technology takes vineyard to the world

Monday, 6 July 2015, 12:25 pm | Yealands

One of New Zealand’s fastest growing and most innovative wine companies, Yealands Family Wines is taking its sustainability story to global markets via a leading edge, digital platform. More >>

Kiwi Insurance Partnership Launches Industry Innovation

Monday, 6 July 2015, 12:24 pm | Provident Insurance

Co-op Insurance NZ and Provident Insurance Corporation Limited (Provident) today announced the release of an innovative new ‘multi-year’ vehicle insurance product being rolled out through Provident’s national network of registered motor vehicle ... More >>

Greek no vote and falling commodities point to a nervous day

Monday, 6 July 2015, 12:12 pm | CMC Markets

Faced with a combination of the Greek no vote, weakening commodity prices and nervousness about the possible spill over effects of plummeting Chinese markets, investors will be thinking safety first this morning. More >>

The Icehouse announces recipients of Scholarships

Monday, 6 July 2015, 12:02 pm | The Icehouse

The Icehouse, a business growth hub, has selected 8 business owners from across the country to receive their Owner Manager Programme Scholarships for the 35th programme. These recipients will receive up to 25% of the cost of the programme. More >>

EQC to double payout, scrap contents insurance

Monday, 6 July 2015, 11:54 am | BusinessDesk

July 6 (BusinessDesk) - New Zealand's Earthquake Commission may double its payout amount, scrap contents insurance and process claims through private insurers under the government's long-running review of funding and management of the state-run earthquake ... More >>

The threat facing small business

Monday, 6 July 2015, 11:13 am | Michael Baines

One of the most-beloved aspects of our character that sets us apart as Kiwis is the ‘number 8 wire’ mentality. The idea that New Zealanders are prepared to give anything a go and through hard work and ingenuity are able to create success More >>

Proposed changes to EQC broadly supported

Monday, 6 July 2015, 11:08 am | Insurance Council of New Zealand

Changes proposed for the EQC respond to lessons from the Canterbury earthquakes and are broadly supported by the Insurance Council of New Zealand, ICNZ Chief Executive Tim Grafton said today. “The thrust of the proposals make sense for customers, ... More >>

Seats at Surf & Turf Kapiti Style proving popular

Monday, 6 July 2015, 10:48 am | Kapiti Business Projects

If you have not bought your ticket to attend one of two lunches at Surf & Turf Kapiti Style yet, the organiser is suggesting that you get on to it as tickets are selling at a good pace. The lunch will run on Saturday 22 August and Saturday 29 ... More >>

Upper North Island Beckons Best Young Butchers

Monday, 6 July 2015, 10:40 am | Retail Meat New Zealand

In the last of the Alto Young Butcher and Competenz Butcher of the Year regional finals, the Upper North Island’s best young butchers have been confirmed. More >>

Service sector initiative focuses on people’s skills

Monday, 6 July 2015, 10:39 am | Service IQ

An exciting new workforce development plan created by ServiceIQ in consultation with industry leaders calls for increased skill levels to deliver future success for the country’s vital service industries. The plan and associated sector infographics ... More >>

Transpower renews maintenance contracts

Monday, 6 July 2015, 10:30 am | Transpower

Transpower announced that it had renewed contracts with Electrix, Northpower, Electronet, and Transfield Services for the servicing and maintenance of New Zealand’s transmission lines and substations. More >>

FMA settles Hanover civil case for $18 million

Monday, 6 July 2015, 10:12 am | BusinessDesk

July 6 (BusinessDesk) - The Financial Markets Authority has settled a civil claim against the directors and promoters of failed finance company Hanover Finance for $18 million just two weeks before it was due to be heard in court. More >>

From undressing to salad dressing

Monday, 6 July 2015, 9:48 am | Bayleys

The gradual conversion of once seedy Karangahape Road from Auckland’s red-light district into an entertainment, hospitality and rejuvenated retail area has been given a major boost – with plans unveiled for a new upmarket dining and food shopping ... More >>

TVNZ launches ONE News Now

Monday, 6 July 2015, 9:37 am | TVNZ

ONE News Now is a purpose-built platform for multiple devices (PC, tablet, smartphone), delivering anywhere, anytime news with a focus on video content - and all about the now. More >>

Investors sought for Sapvax cancer vaccine spin-out

Monday, 6 July 2015, 9:34 am | BusinessDesk

July 6 (BusinessDesk) - Investors are being sought for US$8 million of funding to commercialise an anti-cancer vaccine using immunotherapy technology developed by a team led by Maurice Wilkins Centre director Rod Dunbar and Margaret Brimble, director ... More >>

Air New Zealand commits to five year All Blacks sponsorship

Monday, 6 July 2015, 9:20 am | Air New Zealand

Air New Zealand has confirmed its support for the All Blacks for another five years, re-signing as a major sponsor of New Zealand Rugby through until 2020. The ‘Crazy about Rugby’ airline, which has been a sponsor of rugby in New Zealand for more ... More >>

HiFX Morning Update

Monday, 6 July 2015, 9:06 am | HiFX

The NZDUSD opens at 0.6650, 0.9% lower than Friday’s open. More >>

Moody's upgrades Air NZ credit rating

Monday, 6 July 2015, 8:56 am | BusinessDesk

Moody's upgrades Air NZ credit rating on new approach to leases, low jet fuel prices More >>

NZ dollar touches fresh lows on concern about Greece

Monday, 6 July 2015, 8:41 am | BusinessDesk

July 6 (BusinessDesk) - The New Zealand dollar fell to a fresh five-year low as investors exited riskier assets in favour of safe havens after Greeks look to have rejected austerity measures that would give them access to bailout money. More >>

World Week Ahead: Greece and US earnings

Monday, 6 July 2015, 7:40 am | BusinessDesk

July 6 (BusinessDesk) - A fresh US corporate earnings season and Friday’s speech by Federal Reserve Chair Janet Yellen might help distract attention from the Greek euro-zone tragedy as the results of the country’s referendum are assessed. More >>

Two Brands, Three Blokes, One New Wine Company

Sunday, 5 July 2015, 11:23 pm | Highfield Winery

Winemakers Alistair Soper and Gordon Ritchie have joined with General Manager Pete Coldwell to run the new company, with all three men having some strong goals in mind. More >>

A Taco Truck in your kitchen

Sunday, 5 July 2015, 10:56 pm | Pead PR

For the past eight months, the talented duo from one of New Zealand’s most successful food trucks - The Lucky Taco - has been working behind the scenes on a KickStarter campaign in a bid to raise $100,000 for their latest venture. More >>

Matt Bell wins 2015 ANZ Young Farmer Contest

Sunday, 5 July 2015, 10:50 pm | New Zealand Young Farmers

After a nail-biting finish Matt Bell of Aorangi is the 2015 ANZ Young Farmer Contest Champion. More >> A Fully Featured Real Estate Platform

Sunday, 5 July 2015, 10:37 pm | PropertyOnly NZ

PropertyOnly NZ launched its redesigned website recently. The website is a new service that aims to be a fully featured platform for the New Zealand real estate industry. The layout promises to make it easier for interested ... More >>

The new Fiat 500 is revealed

Saturday, 4 July 2015, 8:28 pm | Ateco Automotive NZ Ltd

• With 1.5 million built, the torch is passed to the third generation Fiat 500. More >>

Graeme Hawkins to step down from Ports of Auckland Board

Saturday, 4 July 2015, 1:50 pm | Ports of Auckland

Deputy Chair Rodger Fisher will take over as Acting Chair from 1 August 2015 Chairman Graeme Hawkins has announced he will step down from the Ports of Auckland Board at the end of July. Mr Hawkins has been a Board member since September 2009 and Chair ... More >>

Hino highlights truck driver shortage

Saturday, 4 July 2015, 10:19 am | Hino Distributor NZ Ltd

Hino Distributors (NZ) Ltd’s nationwide driver’s licence competition has placed Caroline Haack one step closer to driving her partner’s new 700 series 8x4. Caroline entered the competition at Hino’s National Fieldays’ site in June, winning her ... More >>

MARKET CLOSE: NZ shares fall on Greek worries; A2, Xero drop

Friday, 3 July 2015, 5:33 pm | BusinessDesk

July 3 (BusinessDesk) - New Zealand shares fell as uncertainty over Greece's debt default sapped risk appetite and demand for equities. A2 Milk Co, Xero and Fletcher Building declined. Pumpkin Patch sank to a record low. More >>

Choice Hotels Adds Kaikoura to NZ Portfolio

Friday, 3 July 2015, 5:21 pm | Choice Hotels

Choice Hotels Australasia, one of Australasia’s largest hotel franchisors, welcomes Quality Suites Kaikoura to its growing portfolio. Based in the seaside town of Kaikoura, the addition of Quality Suites Kaikoura will take its New Zealand offering to 35 ... More >>

NZ dollar heads for 1.8% weekly drop; Greek referendum looms

Friday, 3 July 2015, 5:10 pm | BusinessDesk

July 3 (BusinessDesk) - The New Zealand dollar is heading for a 1.8 percent weekly decline as financial markets remain volatile ahead of Greece's referendum on whether to accept a bailout package from its European creditors, and as the wheels start ... More >>

Site Safe Construction Health and Safety Awards

Friday, 3 July 2015, 4:34 pm | Site Safe NZ

Entries are now open for the 2015 Site Safe NZ Construction Health and Safety Awards. More >>

McKay Group has closed Acquisition of Downer Tenix Kawerau

Friday, 3 July 2015, 4:20 pm | McKay

McKay Group has closed on Acquisition of Downer Tenix Kawerau Branch, increases access to mechanical, electrical and automation engineering services. More >>

FMA strategy to boost understanding and knowledge

Friday, 3 July 2015, 4:07 pm | Financial Markets Authority

The Financial Markets Authority (FMA) today released its Investor Capability Strategy, which aims to build knowledge, understanding and confidence about making investment decisions. More >>

Low flyer wins top prize at NZ aviation awards

Friday, 3 July 2015, 3:18 pm | Service IQ

The business is usually flying close to the ground. But this week, top dressing firm Ravensdown Aerowork was the high flyer when it took out the prestigious ServiceIQ Award for Excellence in Training at the Aviation Industry Association Awards in Queenstown. More >>

UPDATE: Beingmate slides further in Shenzhen tumble

Friday, 3 July 2015, 3:12 pm | BusinessDesk

July 3 (BusinessDesk) - Beingmate Baby & Child Food Co shares have more than halved in value on the Shenzhen stock exchange over the past three weeks, pushing their price 21 percent below what Fonterra Cooperative Group paid for its 18.8 percent ... More >>

Chapman Tripp Advises Arvida on Successful Capital Raising

Friday, 3 July 2015, 3:10 pm | Chapman Tripp

Chapman Tripp has advised Arvida Group Limited (Arvida) on its $62m acquisition of three Auckland aged care facilities and a $35m capital raising, which includes a $30m private placement that settled today. More >>

The Loop Duty Free lands at Auckland International Airport

Friday, 3 July 2015, 2:48 pm | The Loop

The Loop Duty Free has announced that it is officially open for business to all passengers travelling through Auckland International Airport. After securing the seven year retail contract with Auckland Airport in February this year, Air Rianta ... More >>


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