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Latest Business Headlines

Calls for change heard by Inquiry into EQC

Monday, 20 May 2019, 12:38 pm | Earthquake Commission

People are saying they want to see more empathy, transparency, relevant expertise, quality assurance around assessments and repairs, and greater timeliness with claims, in feedback so far to the Public Inquiry into the Earthquake Commission. More >>

Northland rail upgrade a strategic investment

Monday, 20 May 2019, 12:01 pm | BusinessDesk

May 20 (BusinessDesk) - Building a new rail link to Marsden Point and upgrading the existing Northland line could bring forward Northport’s development as a major freight handler for Auckland and help boost the broader regional economy, an economic ... More >>

NZD slightly weaker against Aussie after surprise victory

Monday, 20 May 2019, 11:59 am | BusinessDesk

May 20 (BusinessDesk) - The New Zealand dollar was slightly weaker against its trans-Tasman counterpart - and may come under more pressure - after Australia's centre-right government won a surprise election victory over the weekend. More >>

First wave of automatic tax refunds to be released

Monday, 20 May 2019, 11:57 am | Inland Revenue Department

More than 2.5 million New Zealanders will receive their first ever automatic tax assessment over the next two months with the first batch going out today. More >>

International ports award for Port Nelson CEO

Monday, 20 May 2019, 10:49 am | Port Nelson Ltd

Outgoing Port Nelson Limited Chief Executive Officer Martin Byrne has joined an elite group of only three New Zealanders to be awarded honorary life membership of the International Association of Ports and Harbours (IAPH). More >>

Fed speechs, Australian election outcome to impact NZ market

Monday, 20 May 2019, 10:49 am | BusinessDesk

May 20 (BusinessDesk) - A plethora of United States Federal Reserve speakers at the Atlanta Fed's annual meeting this week ought to shed further light on where global interest rates are going. More >>

Infratil confident of Vodafone clearance

Monday, 20 May 2019, 10:28 am | BusinessDesk

May 20 (BusinessDesk) - Infratil is confident its purchase of Vodafone New Zealand will be approved by regulators and says it has no interest in selling out of Trustpower to help secure a deal. More >>

Turner & Townsend appointed on City Rail Link

Monday, 20 May 2019, 10:22 am | Turner and Townsend

Global professional services firm Turner & Townsend has been appointed to provide cost management advisory services for the City Rail Link project in Auckland. More >>

Scales Corporation Confirms Final Dividend for 2018 And 2019

Monday, 20 May 2019, 9:47 am | Scales Corporation Ltd

The Directors of Scales Corporation Limited (NZX:SCL) have declared a fully imputed final cash dividend for the 2018 Financial Year of 9.5 cents per share, to be paid on 5 July 2019. More >>

Reserve Bank should rethink capital proposals

Monday, 20 May 2019, 9:18 am | NZ Bankers' Association

The New Zealand Bankers’ Association has called on the Reserve Bank to reconsider its proposals to almost double capital requirements for New Zealand’s banks, and take into account an independent review by former Treasury Secretary Dr Graham Scott. More >>

Wellington property market runs hot as buyers look afield

Monday, 20 May 2019, 9:13 am | Trade Me Property

Wellington’s property market remained red hot in April after the average asking price rose 14.3 per cent or $81,000 year-on-year to $652,950, according to the latest Trade Me Property Price Index. More >>

XE Morning Update - May 20, 2019

Monday, 20 May 2019, 8:34 am | XE Morning Update

The NZDUSD opens at 0.6521 (mid-rate) this morning. Risk appetite is on the rise after President Donald Trump announced a delay in imposing tariffs on imported vehicles and parts from the European Union, Japan and removed tariffs of 25% on steel and ... More >>

Australia And New Zealand’s News Media Publishers Win

Sunday, 19 May 2019, 12:03 pm | NewsMediaWorks

Australian and New Zealand news media publishers have won 22 medals and honourable mentions at the INMA (International News Media Association) 2019 Global Media Awards presented to more than 400 delegates attending the closing dinner of the INMA World ... More >>

NZ Herald wins major international media awards

Sunday, 19 May 2019, 10:36 am | NZME.

The NZ Herald was named best in Asia/Pacific at the International News Media Association (INMA) awards for its #NotforSale editorial campaign. #NotForSale also won the Best Public/Community Service Campaign, heading off several international media brands. More >>

Northland business case highlights value of rail

Sunday, 19 May 2019, 10:17 am | KiwiRail

KiwiRail applauds recognition in the Northland Rail Business Case, released today, of the strategic value of a viable rail network for the region. More >>

NZ Herald the home of premium journalism

Saturday, 18 May 2019, 11:22 am | NZME.

The New Zealand Herald has been named the best daily newspaper* in New Zealand, just weeks after the launch of NZHerald Premium, the newspaper’s digital subscription service. More >>

1,000th outlet milestone for Kiwi vaping business

Saturday, 18 May 2019, 11:20 am | Alt New Zealand

The largest Kiwi-owned vaping business has reached an incredible milestone after opening its first shop on Auckland’s Dominion Road just two years ago. More >>

MARKET CLOSE: NZ shares rise; trading quiet

Friday, 17 May 2019, 8:41 pm | BusinessDesk

May 17 (BusinessDesk) - New Zealand shares rose in quiet trading, as investors prepare for a flurry of earnings next week. Infratil entered a trading halt for the first tranche of a $400 million capital raising. More >>

NZ dollar firms against the Aussie

Friday, 17 May 2019, 8:18 pm | BusinessDesk

May 17 (BusinessDesk) - The New Zealand dollar rose against its trans-Tasman counterpart as the market awaits the outcome of Australia’s federal election tomorrow and as trade tensions between China and the US remain top of mind among traders. More >>

Deloitte report shows building material costs are low

Friday, 17 May 2019, 6:52 pm | BusinessDesk

May 17 (BusinessDesk) - The cost of building materials in New Zealand account for between 16-24 percent of the cost of residential housing development costs, depending on the type of building and location, according to a study by accounting firm Deloitte. More >>

UPDATE: Infratil kicks off $400M equity raising

Friday, 17 May 2019, 6:51 pm | BusinessDesk

May 17 (BusinessDesk) – Infratil’s purchase of a stake in Vodafone New Zealand will be transformative for its portfolio and should generate the sort of returns that will allow the company to return to a rising dividend track, chief executive ... More >>

E tū: Waikato Hospital assault tip of iceberg

Friday, 17 May 2019, 5:53 pm | E Tu

E tū says the serious assault on a security guard at Waikato Hospital this week is the tip of the iceberg and it’s time to end the use of security contractors who don’t provide adequate training, support and safe staffing. More >>

RBNZ censures ANZ, prescribes risk capital calculation

Friday, 17 May 2019, 5:01 pm | BusinessDesk

May 17 (BusinessDesk) - The Reserve Bank of New Zealand has revoked ANZ Bank New Zealand's accreditation to model its own operational risk capital requirement due to a "persistent failure" in its controls and attestation process. More >>

Infratil seeks clearance to acquire up to 50% Vodafone Stake

Friday, 17 May 2019, 4:50 pm | Commerce Commission

The Commerce Commission has received a clearance application from Infratil Limited seeking clearance to acquire up a to 50% interest in Vodafone New Zealand Limited. Brookfield Asset Management Inc will acquire the other 50% share of Vodafone. More >>

Nursery industry finds Young Achiever 2019

Friday, 17 May 2019, 3:48 pm | NZ Plant Producers Inc

This year the winner of the annual competition is Rico Mannall from Southern Woods nursery in Christchurch. Rico will go on to compete in the Young Horticulturalist competition later this year. The Horticentre Young Achiever competition recognises ... More >>

SeaDragon shareholders back $4M injection

Friday, 17 May 2019, 3:45 pm | BusinessDesk

SeaDragon shareholders back $4M injection to stave off liquidation More >>

Increase in gaming spend illusionary

Friday, 17 May 2019, 3:25 pm | Gaming Machine Association of New Zealand

The latest Quarterly Gaming Statistics released by the DIA create an illusion that real funding availability for the community is increasing, says Bruce Robertson, the Independent Chair of the Gaming Machine Association of NZ (GMANZ). When adjusted ... More >>

Future of Shopify Accounting Launches in New Zealand

Friday, 17 May 2019, 2:39 pm | A2X

A2X is an innovative plugin that connects Amazon Seller Central to cloud-based accounting systems such as Xero and QuickBooks Online. Over the past 4 years, we have helped thousands of sellers and hundreds of leading eCommerce accountants ... More >>

Businesses get some reprieve in March quarter

Friday, 17 May 2019, 2:28 pm | BusinessDesk

May 17 (BusinessDesk) - Businesses got a reprieve in the March quarter as cheaper wholesale electricity helped push down the prices producers paid in the period. More >>

Strike three Monday for IDEA Services workers

Friday, 17 May 2019, 2:11 pm | E tu Union

IDEA Services support and administration workers will be striking for a third time on Monday, 20 May, between 3.30pm and 4.40pm. More >>

NZ manufacturing activity expands on month in April

Friday, 17 May 2019, 2:07 pm | BusinessDesk

May 17 (BusinessDesk) - New Zealand's April manufacturing activity expanded versus March but was well down on the year as demand growth continues to cool. More >>

Xero's CEO says it still has a cautious future in the US

Friday, 17 May 2019, 1:43 pm | BusinessDesk

May 17 (BusinessDesk) - Xero’s chief executive still sees a future for the accounting software company in the US but he’s careful to dampen expectations of what’s possible. More >>

Reserve Bank censures ANZ

Friday, 17 May 2019, 1:23 pm | Reserve Bank

The Reserve Bank has revoked ANZ Bank New Zealand Limited’s (ANZ) accreditation to model its own operational risk capital requirement due to a persistent failure in its controls and attestation process. More >>

First quarter pokie statistics

Friday, 17 May 2019, 1:22 pm | Department Of Internal Affairs

The latest quarterly statistics on pokies in pubs and clubs released by the Department of Internal Affairs continue recent trends with increasing gaming machine profits but a decreasing number of gaming machines and venues. More >>

Infratil Full Year Results for year ended 31 March 2019

Friday, 17 May 2019, 1:05 pm | Infratil

17 May 2019 Infratil Limited's Annual Report for the full year ended 31 March 2019 is now available here . More >>

Infratil kicks off $400M equity raising

Friday, 17 May 2019, 12:39 pm | BusinessDesk

May 17 (BusinessDesk) - Infratil plans to sell about 100 million new shares at $4 each to help fund its $3.4 billion purchase of Vodafone New Zealand. More >>

Genesis signs up to 20-year supply agreement

Friday, 17 May 2019, 12:18 pm | BusinessDesk

May 17 (BusinessDesk) - Genesis Energy and Tilt Renewables have signed a 20-year supply agreement, laying the foundation for the construction of a 31-turbine wind farm in Waverley, South Taranaki. More >>

Ryman Healthcare app scoops international award

Friday, 17 May 2019, 12:05 pm | Ryman Healthcare

Ryman Healthcare’s three-year quest to build an app that eliminated paperwork and improved quality of life for residents has won a top international award. More >>

New Zealand RAW Honey Company wins at international awards

Friday, 17 May 2019, 11:41 am | RAW Honey Company

The New Zealand RAW Honey Company Ltd’s RAW Rata Honey has scooped a gold and two silver medals in the 2019 London International Honey Awards (LIHA), announced at a ceremony held at the DoubleTree by Hilton Hotel London – Docklands Riverside ... More >>

Sodastream “says Goodbye” With Game Of Thrones Actors

Friday, 17 May 2019, 11:34 am | SodaStream

SodaStream today unveiled its newest video campaign “Say Goodbye” featuring Game Of Thrones actors Thor Bjornsson AKA “The Mountain”, Hannah Waddingham AKA "Septa" and Kristian Nairn AKA "Hodor". More >>

NZ dollar weakens on strong US data, trade tensions

Friday, 17 May 2019, 11:15 am | BusinessDesk

May 17 (BusinessDesk) - The New Zealand dollar opened weaker after stronger than expected US data gave the greenback a lift and as trade tensions continue to dampen risk appetite. More >>

Electricity prices retreat from recent high

Friday, 17 May 2019, 10:46 am | Statistics New Zealand

A fall in electricity generation prices from unusually high levels late last year mainly influenced the fall in both input and output producers’ prices in the March 2019 quarter, Stats NZ said today. More >>

Common cheese names under threat in EU trade negotiations

Friday, 17 May 2019, 10:43 am | Dairy Companies Association of New Zealand

Common cheese names under threat in EU trade negotiations, NZ cheesemakers warn More >>

NZ Companies must start walking the talk to build diversity

Friday, 17 May 2019, 10:14 am | Robert Walters

NZ Companies must start walking the talk to build a more diverse workplace More >>

BitPrime Cryptocurrency Price Update

Friday, 17 May 2019, 9:42 am | BitPrime

Cryptocurrency Market Market capitalisation yesterday: NZD$372,004,817,453 Market capitalisation today: NZD$377,567,830,982 Change: 1.50% More >>

NZ building materials costs are highly competitive

Friday, 17 May 2019, 9:38 am | Building Industry Federation

Auckland, 17 May 2019 – The Building Industry Federation of New Zealand today welcomed the Deloitte Report on the ‘Cost of residential housing development’ as a welcome piece of independent in-depth research More >>

Expected economic pickup a no show

Friday, 17 May 2019, 9:13 am | ASB Bank

The latest ASB Quarterly Economic Forecast reveals that while 2019 has so far proved a comeback year for golfer Tiger Woods, it’s shaping up to be a sub-par one for economic momentum globally. More >>

Unisys Honoured as Recipient of Dell Award

Friday, 17 May 2019, 9:07 am | Unisys

WELLINGTON, New Zealand, 17 May 2019 – Unisys Corporation (NYSE: UIS) today announced that the company has been designated as a recipient of the Dell Technologies President’s Circle Award for achieving extraordinary results and demonstrating a commitment to ... More >>

XE Morning Update - May 17, 2019

Friday, 17 May 2019, 9:03 am | XE Morning Update

The NZD and AUD both struggled overnight as markets remained concerned about the increase in trade tensions between the USA and China. Trumps move to raise tariffs from 10% to 25% has made markets nervous. Overnight comments in the Chinese media ... More >>

MARKET CLOSE: NZ shares extend gain

Thursday, 16 May 2019, 9:11 pm | BusinessDesk

May 16 (BusinessDesk) - New Zealand shares rose for a second day in an increasingly volatile market. Equities rose across Asia and Chorus led the local market higher. More >>

NZ dollar little changed after brief spike on Aussie jobs

Thursday, 16 May 2019, 9:09 pm | BusinessDesk

May 16 (BusinessDesk) - The New Zealand dollar ended the day little changed after spiking briefly against its Australian counterpart on mixed jobs data there. More >>

Wellington Airport lifts annual earnings on passenger growth

Thursday, 16 May 2019, 9:08 pm | BusinessDesk

May 16 (BusinessDesk) - Wellington International Airport lifted annual earnings 6.3 percent as the capital city's gateway continued to benefit from rising passenger numbers. More >>

Rangatira to up Magritek stake; seeks Hellers replacements

Thursday, 16 May 2019, 9:07 pm | BusinessDesk

May 16 (BusinessDesk) - Rangatira Investments plans to increase its holding in research technology business Magritek as it deploys funds from the sale of its interest in smallgoods maker Hellers. More >>

McKay Progresses Sustainability Offering

Thursday, 16 May 2019, 6:36 pm | McKay

McKay Progresses Sustainability Offering with The Launch of McKay Renewables Following the company’s success with major sustainability projects across New Zealand, including the Southern Hemisphere’s first fully electric ferry, McKay will launch the new ... More >>

ETS development continues to be well signalled

Thursday, 16 May 2019, 5:47 pm | BusinessNZ

The latest design changes to New Zealand’s emissions trading scheme have been progressively well signalled and are broadly positive, says BusinessNZ. More >>

Synlait says Munchkin US FDA process on hold

Thursday, 16 May 2019, 5:34 pm | BusinessDesk

May 16 (BusinessDesk) - Synlait Milk said the registration process required to launch Munchkin Inc’s Grass Fed infant formula in the US has been put on hold to allow the company to look at other options. More >>

Kiwibank to ditch cheques in February 2020

Thursday, 16 May 2019, 5:25 pm | BusinessDesk

May 16 (BusinessDesk) - When Kiwibank CEO Steve Jurkovich stands up to address the Grey Power annual meeting next week, he might want to wear his bulletproof vest. More >>

DHB, Allied Security fail assaulted security guard

Thursday, 16 May 2019, 5:18 pm | E Tu

E tū says Allied Security and the Waikato DHB failed in their duty to protect a hospital security guard who suffered serious injuries in an assault at Waikato Hospital early on Wednesday morning. The guard was injured after she stepped in to protect ... More >>

Bell Gully advises Apax Partners LLP on Trade Me scheme

Thursday, 16 May 2019, 5:17 pm | Bell Gully

Bell Gully advises Apax Partners LLP on landmark Trade Me scheme of arrangement More >>

The Gig Economy, Future of the Workforce

Thursday, 16 May 2019, 4:24 pm | PwC Herald

16 May 2019 – Is your business futureproofed and ready for the uprising of the gig economy? Do you know how to lead gig based workers, while maintaining and building a positive team culture? PwC Herald Talks’ second event for 2019 will be held on ... More >>