Latest Business Headlines
MARKET CLOSE: NZ shares gain; Fletcher dominates
10 February 2010 5:59pm | Businesswire
Feb. 10 (BusinessWire) – New Zealand rose in a session dominated by an 8.7 million line of Fletcher Building shares changing hands. Fisher & Paykel Appliances led the advance. AMP NZ Office Trust led property investors lower as investors digested ... More >>
Active v Passive Investment Debate
10 February 2010 5:36pm | Russell Investment Group
New research by Russell Investments has produced a framework for helping investors decide when it is appropriate to choose an active or a passive investment approach. More >>
Cathay Pacific Wins For Red Wine
10 February 2010 5:25pm | Cathay Pacific
Cathay Pacific’s flair for selecting wines that tantalise the taste buds whilst onboard has once again been celebrated in the prestigious Cellars in the Sky Awards, which are organised annually by UK based Business Traveller magazine. More >>
Forestry’s Bright Future Subject of Conference
10 February 2010 5:18pm | Forest Industry Engineering Association
Financing future forestry growth is the focus for a new forestry conference which is drawing a wide audience from both the finance sector and many new participants in the industry. “Many people in both the finance industry and the investment sector ... More >>
Riding the Celtic Tiger into Real Estate
10 February 2010 5:04pm | Braziers
It was riding the Celtic Tiger during the boom time in Dublin in the early 2000s that gave Brazier Property Investments’ top salesperson Angela Webb a new career direction when she returned home to Christchurch in 2006. More >>
NZ Businesses To Gain Double Reward Miles
10 February 2010 5:02pm | Emirates Airlines
Emirates Business Rewards, the airline’s innovative loyalty programme tailor-made for small and medium enterprises (SMEs), will offer its New Zealand customers double reward miles from now until the end of March. More >>
Expo shows revival of strategic thinking
10 February 2010 5:00pm | Convene Auckland Expo
The reluctance of many organisations to hold meetings, conferences and other corporate events in the hard times of 2009 has led to a pent up demand for such activity this year. More >>
Postie Plus narrows first-half loss, shares climb
10 February 2010 4:41pm | Businesswire
Feb. 10 (BusinessWire) - Postie Plus Ltd., the clothing retailer, said it made a "significantly lower" loss in the six months ended Jan. 31 than the $2.7 million reported for the same period in 2008. More >>
CMP Canterbury join Customs’ Secure Exports Scheme
10 February 2010 4:33pm | New Zealand Customs Service
Today CMP Canterbury, one of New Zealand’s biggest meat exporters, partnered with the New Zealand Customs Service in Customs’ Secure Exports Scheme (SES), ensuring CMP experience speedier clearance times and greater trade facilitation. More >>
Bids sought to revive Kahili gasfield
10 February 2010 4:12pm | Businesswire
Taranaki’s Kahili gasfield, once choked with water, may be revived as government seeks bids More >>
Gas Competition Case to Be Heard in High Court
10 February 2010 3:52pm | Todd Energy
Gas Competition Case to Be Heard in High Court The Pohokura gas competition case between Todd Energy (Plaintiff) and Shell Exploration NZ Ltd (First defendant) and OMV NZ Ltd (Second defendant) will be heard in court in Wellington on 15 February ... More >>
Rabobank Agribusiness Review February 2010
10 February 2010 2:52pm | Rabobank
Prepared by the bank’s Food & Agribusiness Research and Advisory division, the report provides monthly commentary on New Zealand and Australian economic and agricultural conditions. More >>
Aussie Home Loan Demand Slumped Further In Dec
10 February 2010 2:51pm | JP Morgan
The total number of housing loan commitments issued in Australia plummeted again in December, falling 5.5%m/m as expected (J.P. Morgan: -5.5%, consensus: -5.0%), after a downwardly revised 6.1% slide in the previous month. More >>
“E-fairness “called for in the face of possible GS
10 February 2010 2:48pm | Booksellers NZ
Any increase in the GST rate in New Zealand will further disadvantage local booksellers competing against international online book sellers, such as Amazon, who don’t pay tax to the local economy. More >>
Kiwisaver Growth Funds Highest Returns For 2009
10 February 2010 2:46pm | Mercer
KiwiSaver funds have fared well in recent share market rallies posting positive returns for the third consecutive quarter and providing the best returns for the past year, according to Mercer’s KiwiSaver survey. More >>
First Rate Announces Exclusive Partnership
10 February 2010 2:10pm | First Rate
(Auckland, 9th February 2010) Search marketing agency, First Rate has been appointed as the exclusive licensee in New Zealand and Australia of the Search Engine Marketing (SEM) technology, SearchIgnite. More >>
Bluewater Brings Arm HQ To NZ
10 February 2010 2:07pm | Bluewater Systems
Did you know that ARM has become the global standard embedded microprocessor used in most digital devices today? Every year, billions of ARM-powered chips are used around the world in mobile phones, digital cameras, set top boxes, electronic games, ... More >>
New Hotel Opens its Doors to Job Seekers
10 February 2010 2:01pm | Mode Partners
Dozens of jobs will be up for grabs this weekend as the city’s newest hotel, The Marque Hotel Christchurch, opens its doors to job seekers keen to get a foot on the career ladder. More >>
English expands on tax package parameters
10 February 2010 2:00pm | Businesswire
Feb. 10 (BusinessWire) - Tax threshold changes, a shift to a "bright line" test for the tax treatment of capital gains, and the ring-fencing of rental property losses are all on the table as possible parts of the government's Budget tax package, ... More >>
NZ earnings to reflect slow ‘grind’ out of slump
10 February 2010 1:32pm | Businesswire
Feb. 10 (BusinessWire) – New Zealand’s looming earnings season will likely to reflect a slow “grind” out of the worst recession in 18 years, though the country’s listed corporates should proffer a brighter outlook in the months ahead. More >>
Aussie consumers less upbeat over interest rates
10 February 2010 1:30pm | J.P Morgan
Consumer confidence in Australia, as measured by the Westpac-Melbourne Institute (WMI), unexpectedly fell in February (-2.6%m/m). Though the index is still elevated at 117, we had expected a new record high to be achieved, owing to the RBA’s shock ... More >>
Unisys Predicts Miniaturisation to Drive Secure ID
10 February 2010 1:20pm | Unisys
Slashed budgets and reduced staffing numbers meant that the rollout of many security initiatives planned for 2009 were put on hold. However, recognising that further delay may increase the risk of exposure to fraud, data theft and access breaches, ... More >>
Federated Farmers Busts 1080 Myths
10 February 2010 12:55pm | Federated Farmers
In the lead feature of the latest edition of the National Farming Review, currently being posted to Federation members, Federated Farmers has laid down the gauntlet to anti-1080 groups. More >>
Tax avoidance settlement turns ASB to $10m 1H loss
10 February 2010 12:09pm | Businesswire
Feb. 10 (BusinessWire) - ASB Bank has taken $209 million of a $264 million tax and interest bill from tax avoidance settlements onto its books in the six months ended Dec. 31, the Commonwealth Bank of Australia-owned lender announced today. More >>
3 Years To Ultra-Fast Broadband
10 February 2010 12:09pm | New Zealand Regional Fibre Group
Much of Franklin could have ultra-fast fibre broadband at speeds of up to 1Tbit/s within three years – if Counties Power has its way. The local electricity lines company is among a number of New Zealand Regional Fibre Group members to have submitted ... More >>
Queenstown’s Sustainable Business Programme
10 February 2010 11:57am | Otago Polytechnic
Queenstown businesses working toward a more sustainable future are set to benefit from a new programme launched by Otago Polytechnic’s Centre for Sustainable Practice. More >>
NZ electronic card transactions rise for 3rd mth
10 February 2010 11:47am | Businesswire
Feb. 10 (BusinessWire) – New Zealand consumer spending on credit and debit cards rose for a third straight month in January, helped by purchases at petrol stations, underlining the economy’s slow recovery from its slump. More >>
ASB Performance Remains Solid Despite Tough Times
10 February 2010 11:23am | ASB Bank
During a period when the global recession has severely impacted banks around the world, ASB’s long-standing commitment to providing excellent service, with an emphasis on understanding customers’ needs, has assisted the Bank to deliver a solid underlying ... More >>
Core Retail Electronic Card Spending Flat
10 February 2010 11:01am | Statistics New Zealand
The seasonally adjusted value of electronic card transactions in core retail (which excludes the motor vehicle-related industries) was flat (down just 0.1 percent) in January 2010 compared with December 2009, Statistics New Zealand said today. This ... More >>
Vector wins $4.6m dispute with BoP Energy
10 February 2010 10:51am | Businesswire
Feb. 10 (BusinessWire) - Vector Ltd., New Zealand’s largest gas pipeline operator, has won a protracted dispute with customer Bay of Plenty Energy over transmission costs, in a Supreme Court decision published today. More >>
SBS Bank Brings Back Cash PIE Term Deposit
10 February 2010 10:21am | SBS Bank
New Zealand’s only customer-owned bank, SBS Bank, has today (10 February) introduced its second SBS Cash PIE term investment account. The Lifestages Deposit Portfolio, available through SBS Bank, offers the chance to invest in call or term cash PIE ... More >>
International Investment Experts at Auckland Forum
10 February 2010 10:19am | New Zealand Trade and Enterprise
Investment specialists from the United States, China and Singapore are among the international speakers featuring at next month’s New Zealand-Australia Investment Forum in Auckland. More >>
Auckland Airport Wins Global Performance Award
10 February 2010 10:07am | Auckland Airport
Auckland Airport has been awarded the Airport of the Year (under 15 million passengers annually) in the 2010 Frost & Sullivan Asia Pacific Aerospace & Defence Awards announced in Singapore in early February. More >>
Eastern Bay Trust halts Horizon takeover
10 February 2010 9:51am | Businesswire
Feb. 10 (BusinessWire) – Eastern Bay Energy Trust, which owns 77.3% of Horizon Energy Distribution Ltd., has suspended its takeover offer for the remaining shares while it seeks a High Court ruling on its rights under its trust deed. More >>
ACC Advises of Privacy Breach
10 February 2010 9:46am | ACC
Every month the Accident Compensation Corporation (ACC) provides businesses around the country with a report on injuries that have occurred in their workplace. The report assists the business better manage health and safety performance through having ... More >>
Horizon Energy Takeover Not Proceeding
10 February 2010 9:32am | Eastern Bay Energy Trust
The Eastern Bay Energy Trust is to make an application to the High Court to clarify matters under its trust deed that have arisen related to its proposed takeover offer for the remaining shares in Horizon Energy Distribution Limited. More >>
FX Daily Planet: Sydney/Asia Open
10 February 2010 9:27am | J.P Morgan
Risk markets surged today in response to headlines that Germany is considering providing assistance to Greece and that broader support from the EU will be considered over the next few days. More >>
Stocks to watch: Sky TV, Warehouse, APT, Pike
10 February 2010 9:24am | Businesswire
Feb. 10 (BusinessWire) – The following stocks may be active on the New Zealand exchange after developments since the close of trading yesterday. All prices are in New Zealand dollars unless specified. More >>
NZ dollar pushes above 69 US cts on Greece relief
10 February 2010 9:15am | Businesswire
Feb. 10 (BusinessWire) – The New Zealand dollar pushed above 69 U.S. cents as investors returned to riskier, or higher-yielding, assets amid speculation the European Union will help rescue Greece from its fiscal woes. More >>
Toyota Prius braking performance improvements
10 February 2010 9:01am | Toyota New Zealand
Toyota New Zealand confirmed today that the third generation Toyota Prius, released last year, would be modified to improve brake pedal ‘feel’. Previous generations of Prius are not affected. More >>
While you were sleeping: Greece relief in sight
10 February 2010 7:11am | Businesswire
Feb. 10 (BusinessWire) - Increasing expectations that the European Union was prepared to bolster Greece helped to propel a rally on Wall Street. More >>
MARKET CLOSE: NZX 50 sinks to 5-mth low; PRC drops
09 February 2010 6:04pm | Businesswire
Feb. 9 (BusinessWire) – New Zealand shares fell for the 16th time in 18 sessions, pushing the NZX 50, as the prospect of further capital raising by Pike River Coal drove the miner down to a nine-month low. More >>
Federated Farmers Asks, The Government Listens
09 February 2010 5:21pm | Federated Farmers
The Prime Minister’s 2010 statement to Parliament today shows John Key has been listening to Federated Farmers prescription to grow the economy. “New Zealand can pass Australia because we have the water and they don’t,” says Don Nicolson, ... More >>
Care needed Over GST Increase
09 February 2010 5:11pm | Tourism Industry Association
Any increase in GST could impact on the New Zealand tourism industry’s international competitiveness relative to other visitor destinations, Tourism Industry Association (TIA) Chief Executive Tim Cossar says. More >>
Riddet Institute powers fish oil development
09 February 2010 5:10pm | Businesswire
Feb. 9 (BusinessWire) – The commercialisation of an encapsulated Omega-3 fish oil that is odourless and tasteless is a coup for Massey University’s Riddet Institute, according to its co-director. More >>
Maritime Union Opposes Any Rise In GST
09 February 2010 5:09pm | Maritime Union of New Zealand
Maritime Union General Secretary Joe Fleetwood says a proposed rise of GST to 15% suggested this afternoon by the Prime Minister would be bad for the majority of New Zealanders. More >>
Speirs prepares to ramp up fish oil output
09 February 2010 5:05pm | Businesswire
NZ fish-oil encapsulation technology set to ramp up from Speirs Group’s Marton base More >>
Still No Real Change
09 February 2010 5:01pm | NZMEA
In his opening speech to Parliament today Prime Minister John Key has accurately characterised the problems with a tax system that is in dire need a radical overhaul, but has responded with a determination to do no more than tinker say the New Zealand ... More >>
Nosh Ponsonby Triples Food Space
09 February 2010 4:58pm | Nosh Food Market
Auckland inner city shoppers are being promised the highest quality fruit and vegetables at low prices with the full refurbishment of Nosh’s Ponsonby Road store. More >>
A J Park welcomes Government focus on innovation
09 February 2010 4:52pm | A J Park
New Zealand’s leading intellectual property (IP) law firm, A J Park, welcomes the Government’s pledge to make science and innovation a priority in this year’s Budget. More >>
AXA GI Research Notes - 09 Feb 2010
09 February 2010 4:49pm | Progressive
Recent global growth and labour market data have been viewed somewhat benignly, even negatively, by equity markets. We’re not so pessimistic. More >>
Sweet spot’ for stock markets over: AMP Capital
09 February 2010 4:24pm | Businesswire
Sweet spot’ for stock markets over, but still a better bet in 2010: AMP Capital More >>
Fertiliser Price Pressures Building
09 February 2010 4:16pm | Ballance Agri-Nutrients
With the global financial crisis now settling into a slow recovery, international pressures are returning to fertiliser pricing. Ballance Agri-Nutrients Chief Executive Larry Bilodeau explains that during the past year prices have been near or below ... More >>
New Zealand's PM considers changes to tax system
09 February 2010 4:01pm | J.P Morgan
Prime Minister John Key delivered his opening parliamentary address today in which he unveiled the direction of the government’s economic and tax policies. The government’s economic plan focuses on six main policy drivers: a growth enhancing tax system; ... More >>
Ports of Auckland supports Queens Wharf proposal
09 February 2010 3:58pm | Ports of Auckland
Ports of Auckland supports the latest proposal for redeveloping Queens Wharf into Auckland’s primary cruise terminal. Managing Director Jens Madsen said the port company, which will operate its cruise business from Queens Wharf, had been consulted ... More >>
Million Dollar Investment Into Omega 3 Company
09 February 2010 3:17pm | Manawatu Investment Group
Manawatu Investment Group (MIG) has successfully led an investment in excess of $1million into functional food business Speirs Nutritionals Partners LP. Speirs Nutritionals is commercialising Massey University developed technology that allows very high loadings ... More >>
Certus Appoints Manager For New Line Of Business
09 February 2010 2:46pm | Certus Solutions
Certus Solutions, Australasia’s largest specialist IBM software and services provider, has appointed Dave Hickling as General Manager to establish a new line of business in enterprise infrastructure. More >>
Living Cell Technologies Receives 10% of CytoSolv
09 February 2010 2:35pm | Living Cell Technologies
Cell implant company Living Cell Technologies Limited (ASX: LCT; OTCQX: LVCLY) today announced that it has received 10% ownership of CytoSolv Inc. in exchange for restricted supply of choroid plexus cell clusters from its designated pathogen free pig herd ... More >>
COMMENT: Will good politics fix broken tax system?
09 February 2010 2:35pm | Businesswire
Feb. 9 (BusinessWire) - Prime Minister John Key is obsessed with two things about the New Zealand economy. One is the fact that productive industry has been shrinking as proportion of the economy for more than five years. More >>
Key takes middle road, whacking home investors
09 February 2010 2:33pm | Businesswire
Feb. 9 (BusinessWire) - There will be no land tax and no tax on imputed rental property income, Prime Minister John Key announced in his scene-setting speech kicking off the parliamentary year, this afternoon. More >>
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