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Latest Business Headlines

Comvita buys 20% stake in Uruguay's Apiter for US$6.25M

Wednesday, 20 June 2018, 1:23 pm | BusinessDesk

Comvita said it has acquired 20 percent of Uruguay's Apiter for US$6.25 million and signed a long-term supply agreement to secure another source of propolis for sales into Asia. More >>

Synlait will invest $250 million in spray dryer

Wednesday, 20 June 2018, 1:04 pm | BusinessDesk

June 20 (BusinessDesk) - Synlait Milk will develop its second nutritional powder manufacturing factory for an estimated initial capital investment of $250 million at its new Pokeno site in Waikato, which will be commissioned for the 2019/20 season ... More >>

Rural Market: Steady Volumes at End of Season

Wednesday, 20 June 2018, 12:57 pm | Real Estate Institute Of New Zealand

Data released today by the Real Estate Institute of NZ (REINZ) shows there were 71 fewer farm sales (-13.8%) for the three months ended May 2018 than for the three months ended May 2017. Overall, there were 443 farm sales in the three months ended ... More >>

A Resilient Late Autumn Lifestyle Market

Wednesday, 20 June 2018, 12:55 pm | Real Estate Institute Of New Zealand

Data released today by the Real Estate Institute of New Zealand (REINZ) shows there were 210 more lifestyle property sales (10.9%) for the three months ended May 2018 than for the three months ended April 2018. Overall, there were 2,129 lifestyle property ... More >>

NZ Forest industry progresses with Act amendments

Wednesday, 20 June 2018, 12:55 pm | NZ Forest Owners' Association

Forest Owners say the government’s announcement that the Overseas Investment Act would be amended to cut out red tape is a very positive signal to potential investors. More >>

Retirement village exemption rejected by committee

Wednesday, 20 June 2018, 12:51 pm | BusinessDesk

June 20 (BusinessDesk) - Retirement village operators are disappointed that the select committee considering the Overseas Investment Amendment Bill did not exempt them from having to get approval before buying sensitive or residential land to build ... More >>

Average cost of building continues to rise in main centres

Wednesday, 20 June 2018, 12:31 pm | QV Valuations

Average cost of building continues to rise in New Zealand’s main centres Media Release 20 June 2018 More >>

The power of government in NZ electricity industry

Wednesday, 20 June 2018, 12:25 pm | Whiteboard Energy

The power of the state: New documentary explores the power of government in NZ electricity industry More >>

NZ dollar drops below 69 US cents

Wednesday, 20 June 2018, 12:00 pm | BusinessDesk

June 20 (BusinessDesk) - The New Zealand dollar fell below 69 US cents after US president Donald Trump said he would target US$200 billion more Chinese products for tariffs and China threatened to retaliate, ramping up concerns about a trade war that could ... More >>

Simple ways to keep the winter power bills down

Wednesday, 20 June 2018, 11:54 am | EECA

The cold snaps mean higher power bills as we snuggle up in front of heating to keep warm but there are easy ways to lower your power bill without compromising on comfort, according to EECA Energywise. More >>

Thank You to our Corrections Volunteers

Wednesday, 20 June 2018, 11:18 am | Department Of Corrections

For National Volunteers Week, we’re taking the time to acknowledge the 1,700 people across the country who share their time and skills volunteering in prison. More >>

Queenstown rents soar as tenants stay put

Wednesday, 20 June 2018, 11:11 am | Trade Me Property

Queenstown rents soar as tenants stay put The median weekly rent in Queenstown Lakes has jumped 12.9 per cent since January and is now the most expensive district to rent in New Zealand at an eye-watering $790 per week, according to the latest Trade ... More >>

Andrew North take out 2018 Auctioneering Championships

Wednesday, 20 June 2018, 10:54 am | Real Estate Institute Of New Zealand

Andrew North from Harcourts Cooper & Co takes out 2018 REINZ National Real Estate Auctioneering Championships More >>

Record imports push current account deficit to 9-year high

Wednesday, 20 June 2018, 10:49 am | Statistics New Zealand

New Zealand’s seasonally adjusted current account deficit for the March 2018 quarter was $3 billion, Stats NZ said today. More >>

Manawatū’s top supermarket checkers

Wednesday, 20 June 2018, 10:46 am | Foodstuffs Limited

Last night, 80 checkout operators from New World and PAK’nSAVE stores across the Manawatū region went till-to-till in Foodstuffs North Island’s 70th annual Checker of the Year competition, which has attracted a record number of entries this year. More >>

Dairy product prices slip for seventh time in nine auctions

Wednesday, 20 June 2018, 9:58 am | BusinessDesk

June 20 (BusinessDesk) - Dairy product prices fell at the Global Dairy Trade auction, as whole milk powder slid amid data showing New Zealand’s processors collected record levels of milk in recent months because of improved weather conditions. More >>

Investors line up to buy clock retailer and café premises

Wednesday, 20 June 2018, 9:56 am | Bayleys

The land and buildings housing New Zealand’s only dual-purpose clock retailer and café have been placed on the market for sale. More >>

Synlait Confirms Commissioning Date of New Pokeno Site

Wednesday, 20 June 2018, 9:34 am | Synlait

Synlait (NZX: SML; ASX: SM1) has confirmed its new nutritional manufacturing site in Pokeno, Waikato, will be commissioned for the 2019 / 2020 season. More >>

New Zealand retail a step ahead in global comparison

Wednesday, 20 June 2018, 9:03 am | Vend

Auckland, New Zealand - 20 June 2018 - Sales volumes for New Zealand’s independent retailers in the past 12 months were 22% higher than the global average, according to data from retail management software leader Vend. This insight comes from Vend’s ... More >>

HiFX morning Update June 20 2018

Wednesday, 20 June 2018, 8:22 am | HiFX

The NZDUSD opens at 0.6895 (mid-rate) this morning. Trade war concerns continue to dominate markets. Global equity markets and commodity prices have fallen further after President Donald Trump instructed US Trade Representative Robert Lighthizer ... More >>

Clampdown on foreign farm buyers scares off investors

Tuesday, 19 June 2018, 9:06 pm | BusinessDesk

Clampdown on foreign farm buyers scares off investors with 'tens of millions' in funds, agents say More >>

MARKET CLOSE: NZ shares drop 1.2% in broad selloff

Tuesday, 19 June 2018, 8:42 pm | BusinessDesk

MARKET CLOSE: NZ shares drop 1.2% in broad selloff, Pushpay and Mercury lead losses More >>

NZ dollar gains vs Aust dollar on trade war concerns

Tuesday, 19 June 2018, 8:22 pm | BusinessDesk

NZ dollar gains vs Aust dollar as threat of US, China trade war looms larger over Australia More >>

NZ King Salmon eyes Cook Strait for large-scale expansion

Tuesday, 19 June 2018, 8:05 pm | BusinessDesk

June 19 (BusinessDesk) - Nelson-based aquaculture firm New Zealand King Salmon Investments believes fish-farming in Cook Strait, using newly emerging submersible technology being developed in Norway, is the route to realising its ambitions for expansion. More >>

AVOCO urges grower caution as Mexico signals interest

Tuesday, 19 June 2018, 6:40 pm | AVOCO

TAURANGA: June 19, 2018: Early moves by Mexico’s avocado producers to enter the Australasian market is a timely reminder about the benefits of supporting market development in Asia, says AVOCO. More >>

Pushpay shares drop 4.8% after $100M bookbuild completed

Tuesday, 19 June 2018, 6:38 pm | BusinessDesk

June 19 (BusinessDesk) - Pushpay Holdings shares dropped 4.8 percent after the mobile payment app company completed a $100 million bookbuild to let executive director Eliot Crowther exit the firm he co-founded. More >>

NZ Super Fund's Matt Whineray appointed CEO

Tuesday, 19 June 2018, 6:36 pm | BusinessDesk

June 19 (BusinessDesk) - The New Zealand Superannuation Fund's board has appointed Matt Whineray as chief executive, a role he has been acting in since March after Adrian Orr left the job. More >>

Powerhouse to sell $1 mln stake in Invert Robotics

Tuesday, 19 June 2018, 5:37 pm | BusinessDesk

Powerhouse to sell $1 mln stake in Invert Robotics, trimming holding by almost a quarter More >>

Residential property price increases expected

Tuesday, 19 June 2018, 5:09 pm | Colliers International

Confidence in New Zealand’s residential property market is now higher than before last year’s election, with house price increases expected in every market surveyed. More >>

Company-X in running for Excellence in IT award

Tuesday, 19 June 2018, 4:44 pm | Company-X

Company-X in running for Excellence in IT and ExportNZ awards HAMILTON, NEW ZEALAND, June 29, 2018: Fast-growing Hamilton software specialist Company-X is a finalist in the New Zealand Excellence in IT Awards. More >>

HealthCare NZ joins ranks of top employers

Tuesday, 19 June 2018, 4:26 pm | Healthcare NZ

HealthCare NZ joins ranks of top employers Media release: 19 June 2018, for immediate release More >>

If Energy Grew On Trees

Tuesday, 19 June 2018, 4:24 pm | Azwood Energy

If Energy Grew On Trees - 19/06/18 Jonathan McKeown Azwood Energy It is always refreshing when structures and processes work as they were designed to. It’s an absolute triumph when it involves the public sector, an industry body and business. To their credit, ... More >>

NZ dollar jumps vs trans-Tasman counterpart

Tuesday, 19 June 2018, 4:18 pm | BusinessDesk

June 19 (BusinessDesk) - The New Zealand dollar jumped about a quarter of an Australian cent, extending recent gains against its trans-Tasman counterpart, as investors were spooked by US President Donald Trump escalating his trade war with China. More >>

NZ sheep farmers enjoying stellar lamb season

Tuesday, 19 June 2018, 3:24 pm | BusinessDesk

June 19 (BusinessDesk) - New Zealand sheep farmers, whose fortunes in recent years have been overshadowed by their dairy farmer colleagues, are having a strong season with lamb prices approaching record levels, according to AgriHQ's Monthly Sheep & ... More >>

International VC for Antarctica NZ CE

Tuesday, 19 June 2018, 3:12 pm | Antarctica New Zealand

Antarctica New Zealand’s Chief Executive Officer, Peter Beggs, has been elected Vice Chair for the Council of Managers of National Antarctic Programmes (COMNAP). More >>

Dairy product prices seen steady-to-easing

Tuesday, 19 June 2018, 2:45 pm | BusinessDesk

June 19 (BusinessDesk) - Dairy product prices are expected to slip at the Global Dairy Trade auction overnight amid a pick-up in supply, even as global trade tensions appear to benefit demand for New Zealand dairy products. More >>

NZ Refining hires renewable energy executive Mike Fuge

Tuesday, 19 June 2018, 2:12 pm | BusinessDesk

June 19 (BusinessDesk) - New Zealand Refining has named Mike Fuge as its new chief executive, tapping a manager with experience in renewable energy as the company seeks to engage with the government over its policy of reaching net zero carbon emissions ... More >>

Pushpay’s bookbuild for co-founder’s stake underwritten

Tuesday, 19 June 2018, 1:34 pm | BusinessDesk

Pushpay’s bookbuild for co-founder’s stake sale fully underwritten at $4 a share More >>

First stop Palmerston North for NetHui Roadtrip 2018

Tuesday, 19 June 2018, 1:31 pm | InternetNZ

First stop Palmerston North for NetHui Roadtrip 2018 New Zealand’s favourite Internet gathering, NetHui will hit the road and its first stop is Palmerston North in the Manawatu on 5 October 2018. More >>

NZ produces record milk volumes late in 2017/18 season

Tuesday, 19 June 2018, 1:23 pm | BusinessDesk

NZ produces record milk volumes late in 2017/18 season, helping make up for weaker spring, summer More >>

The correct facts about tax and rental properties

Tuesday, 19 June 2018, 1:12 pm | NZ Property Investors Federation

Westpac Economist, Dominick Stephens, says that property is more lightly taxed in NZ compared to other assets. He quotes a Tax Working Group study to make this claim. More >>

Gold Awards for RNZ in New York

Tuesday, 19 June 2018, 12:34 pm | RNZ

The RNZ podcast series The Lost has won a gold award for excellence for its presenter Paloma Migone at the prestigious New York Festivals Radio Awards announced in Manhattan this morning. (NZ time). More >>

WorkSafe accepts enforceable undertakings after gas exposure

Tuesday, 19 June 2018, 12:05 pm | WorkSafe NZ

WorkSafe New Zealand has accepted enforceable undertakings from air conditioning and refrigeration company Airtech Limited, and vegetable packaging and marketing company NZ Hot House Limited following an incident in July 2016 where workers were ... More >>

10 Rotorua businesses wanted for growth challenge

Tuesday, 19 June 2018, 11:57 am | Firestation

19 June 2018 Rotorua businesses are being challenged to grow ten times faster and apply for the ACCELERATE business training programme. Businesses owners and senior leaders are urged to act fast so not to miss out. The programme run by Firestation, ... More >>

NZ dollar rises to 6-week high vs Aussie

Tuesday, 19 June 2018, 11:54 am | BusinessDesk

June 19 (BusinessDesk) - The New Zealand dollar rose to the highest level in more than six weeks against its Australian counterpart on expectations the Australian economy will be harder hit by any slowing in China's growth. More >>

Zombie firms’ complacent about disruption

Tuesday, 19 June 2018, 11:41 am | Suncorp

Results of the second Suncorp New Zealand Business Success Index reveal that despite an overall increase in business confidence, companies are not prepared for the impact of disruption. More >>

ZM Announces New Duo to Drive You Home

Tuesday, 19 June 2018, 11:03 am | NZME

19 June 2018 – ZM have announced Bree Tomasel and Clint Roberts as their new Drive Show hosts, on air from 2 July. More >>

Air New Zealand named New Zealand’s most attractive employer

Tuesday, 19 June 2018, 11:02 am | Randstad

Air New Zealand named New Zealand’s most attractive employer for second consecutive year with education & training named top sector More >>

Dodson signs deal with Exedy to drive sales into Europe

Tuesday, 19 June 2018, 10:49 am | Dodson Motorsport

Dodson signs deal with Exedy to drive sales into Europe Auckland, 19 June 2018 – Dodson Motorsport has signed a sales partnership agreement with Exedy Clutch Europe that will allow it to expand its sales into 53 countries in Europe and adjacent markets. ... More >>

Wellington’s top supermarket checkers

Tuesday, 19 June 2018, 10:48 am | Foodstuffs Limited

Last night, 83 checkout operators from New World and PAK’nSAVE stores across the Wellington region went till-to-till in Foodstuffs North Island’s 70th annual Checker of the Year competition, which has attracted a record number of entries this year. More >>

Report shows market performed well in winter 2017

Tuesday, 19 June 2018, 10:47 am | Electricity Authority

The Electricity Authority has today released a report on its review of how the electricity market performed during the winter of 2017. More >>

Century 21 home loans prove popular

Tuesday, 19 June 2018, 10:46 am | Century 21 Real Estate

“We’re picking up a lot of first-home buyers who have been turned away because they don’t quite fit a big bank’s very stringent lending criteria. And with first-home buyers arguably the most active in the market currently, we’ve been busy,” says ... More >>

Air New Zealand named New Zealand’s Most Attractive Employer

Tuesday, 19 June 2018, 10:43 am | Air New Zealand

Air New Zealand has been named New Zealand’s Most Attractive Employer in the annual Randstad Employer Brand Awards for a record fifth time. More >>

Major retailers pull ionisation smoke alarms

Tuesday, 19 June 2018, 10:37 am | Consumer NZ

All major DIY stores have agreed to stop selling ionisation smoke alarms following a request from Consumer NZ. More >>

HiFX morning Update June 19 2018

Tuesday, 19 June 2018, 8:35 am | HiFX

The NZD is little changed from yesterday’s open amid subdued trading action as investors assess the potential impact of rising trade tensions between the US and China. More >>

Foreign buyer ban gets smoother edges

Monday, 18 June 2018, 10:41 pm | BusinessDesk

June 18 (BusinessDesk) - Amendments to the government’s foreign buyer ban, if introduced, would give overseas investors more leeway to put money into New Zealand housing developments. More >>

Peters pins $2B-plus 'losses' to NZ on Fonterra

Monday, 18 June 2018, 9:05 pm | BusinessDesk

June 18 (BusinessDesk) - Deputy Prime Minister Winston Peters doubled down on last week's New Zealand First party attacks on the performance and leadership of Fonterra, saying the country's largest business was costing the economy more than $2 billion ... More >>

UPDATE: Pushpay in trading halt

Monday, 18 June 2018, 9:03 pm | BusinessDesk

UPDATE: Pushpay in trading halt as co-founder Eliot Crowther to sell out; ditches US listing plan More >>

MARKET CLOSE: NZ shares mixed, Mercury and Fletcher gain

Monday, 18 June 2018, 8:43 pm | BusinessDesk

MARKET CLOSE: NZ shares mixed, Mercury and Fletcher gain while Synlait, A2 drop By Sophie Boot More >>

Pushpay in trading halt pending 'material transaction'

Monday, 18 June 2018, 8:19 pm | BusinessDesk

June 18 (BusinessDesk) - Pushpay Holdings, the mobile payments app developer targeting US$100 million of annualised revenue this year, is in a trading halt as it wraps up a "material transaction" it expects to announce tomorrow. More >>