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Latest Business Headlines

MARKET CLOSE: NZ shares down in calm before earnings storm

Monday, 21 August 2017, 8:35 pm | BusinessDesk

MARKET CLOSE: NZ shares down in calm before earnings storm; Metlifecare, Sky TV drop, Argosy, Air NZ gain More >>

Top two North Island Young Winemakers off to National Final

Monday, 21 August 2017, 8:25 pm | Young Winemaker of the Year

The annual Tonellerie de Mercurey Young Winemaker of the Year regional competition was held at EIT (Eastern Institute of Technology), Hawkes Bay on Friday with Sara Addis from Trinity Hill Winery taking out first place and Tom Hindmarsh from Martinborough’s ... More >>

NZ dollar higher but rangebound ahead of Jackson Hole

Monday, 21 August 2017, 8:12 pm | BusinessDesk

Aug. 21 (BusinessDesk) - The New Zealand dollar was slightly higher in a quiet start to the week as investors look ahead to a meeting of the world's central bankers in Jackson Hole, Wyoming later this week. More >>

CRCT: Vista buys control in Latin American reseller Senda

Monday, 21 August 2017, 7:47 pm | BusinessDesk

(Fixes headline and 2nd paragraph to reflect partial valuation on acquisition, updates share price in 3rd paragraph) More >>

Smiths City looks at expanding profitable finance unit

Monday, 21 August 2017, 7:45 pm | BusinessDesk

Aug. 21 (BusinessDesk) - Smiths City Group sees a "significant opportunity" in building out its high margin finance business and is weighing up options to expand its offering, says chief executive Roy Campbell. More >>

FMA expects settlement with Prince and Partners Trustee Co

Monday, 21 August 2017, 7:41 pm | BusinessDesk

Aug. 21 (BusinessDesk) - The Financial Markets Authority expects to shortly reach a settlement with Prince and Partners Trustee Co just as civil proceedings kick off in the Auckland High Court. More >>

MEUG welcomes O-I New Zealand as latest member

Monday, 21 August 2017, 7:33 pm | Major Electricity Users Group

The Major Electricity Users Group (MEUG) welcomes O-I New Zealand as the latest member of MEUG. More >>

UPDATE: Vodafone NZ back in black in hotly contested market

Monday, 21 August 2017, 5:26 pm | BusinessDesk

Aug. 21 (BusinessDesk) - Vodafone New Zealand's books were back in the black after three years in the red as the country's biggest mobile operator boosted revenue in an increasingly competitive telecommunications sector. More >>

Police seek info following Eastern District avocado thefts

Monday, 21 August 2017, 5:11 pm | New Zealand Police

There have been a number of instances in Eastern District recently where avocados have been stolen and then sold on Facebook. More >>

Top in NZ - Top 3 in the World!

Monday, 21 August 2017, 4:44 pm | Microsoft New Zealand

Making to the top three in the world’s largest ICT competition is no easy task. To do it twice is extraordinary! Meet Jayden Cooke, who has now added a second medal and a cheque for USD$1,500 to his collection, following his success in the Excel ... More >>

Many options for big morningside corner site

Monday, 21 August 2017, 4:35 pm | Bayleys

Owner occupiers, add value investors and developers are being targeted in the sale of a substantial corner property with a Mixed Use zoning in the fast changing Auckland suburb of Morningside. More >>

Nib's NZ earnings rise 36% in 2017

Monday, 21 August 2017, 4:31 pm | BusinessDesk

Nib's NZ earnings rise 36% in 2017 as OnePath acquisition makes full year contribution More >>

Nats and Labour go head to head on road vs rail

Monday, 21 August 2017, 4:09 pm | BusinessDesk

Aug. 21 (BusinessDesk) - The contest of transport policies between the National and Labour parties has heated up again with Labour leader Jacinda Ardern announcing plans to introduce passenger rail services between Auckland, Hamilton and Tauranga ... More >>

NZ structural log prices hit new record

Monday, 21 August 2017, 3:26 pm | BusinessDesk

Aug. 21 (BusinessDesk) - New Zealand structural log prices hit a new record as local mills compete with the export market to secure supply to meet the demand from the busy domestic construction market. More >>

Metro pulls plans to increase pool for directors' fees

Monday, 21 August 2017, 3:13 pm | BusinessDesk

Aug. 21 (BusinessDesk) - Metro Performance Glass will reduce annual non-executive directors' fees rather than seek a mandate to increase the available fee pool at Thursday's annual general meeting. More >>

NZ Steel in A$100M profit turnaround, future more secure

Monday, 21 August 2017, 2:54 pm | BusinessDesk

Aug. 21 (BusinessDesk) - Australian-owned New Zealand Steel achieved a A$100 million turnaround in underlying operating earnings in the year to June 30, following two years of deep cost-cutting, the sale of its Taharoa ironsands business, and a focus ... More >>

Three Wins the Week in 25-54, the Block NZ Continues to Grow

Monday, 21 August 2017, 2:45 pm | Mediaworks

Three won the night three times last week leading to its second consecutive weekly win in the commercially important 25-54 demographic: Thursday (25-54, 18-39),Friday (25-54, 18-39, 18-49) and Sunday (all four demographics), averaging a 24.8 share ... More >>

Vodafone NZ back in black as sales tick up

Monday, 21 August 2017, 2:43 pm | BusinessDesk

Aug. 21 (BusinessDesk) - Vodafone New Zealand's books were back in the black after three years in the red as the country's biggest mobile operator boosted revenue in an increasingly competitive telecommunications sector. More >>

NZ migration hits record in July despite more Kiwis leaving

Monday, 21 August 2017, 2:34 pm | BusinessDesk

Aug. 21 (BusinessDesk) - New Zealand annual net migration rose to a record in July, driven by foreign immigrants, with the biggest groups coming from Australia, the UK and China More >>

New appointment release: Mortgage Express

Monday, 21 August 2017, 2:23 pm | Mortgage Express

Sarah Kim is the newest adviser to join Mortgage Express’ Auckland team of mortgage advisers. More >>

IPMA conference tackles the big property issues

Monday, 21 August 2017, 2:21 pm | Independent Property Managers' Association

This year’s Independent Property Managers’ Association (IPMA) two-day conference in September promises updates on the big issues facing managers of residential property rentals. More >>

SPTO brings tourism business training to New Caledonia

Monday, 21 August 2017, 2:14 pm | South Pacific Tourism Office

21st August, 2017, Noumea, New Caledonia – The South Pacific Tourism Organisation (SPTO) is conducting a series of short, innovative tourism business training workshops for tourism industry stakeholders in New Caledonia this week (August 21st – 22nd). More >>

Manfeild driver course gets thumbs up

Monday, 21 August 2017, 2:11 pm | Manfeild

THE mother of one of the first graduates of a Manfeild-centred programme readying young drivers for the road has spoken glowingly of the course – as has her daughter. More >>

Māori Financial Institution, ACU, Aong with Co-Op Money NZ

Monday, 21 August 2017, 1:59 pm | Manukau Urban Maori Authority

AUCKLAND, 21 AUGUST 2017: Co-op Money NZ and ACU, a Māori based credit union started by the MUMA (Manukau Urban Māori Authority) 28 years ago, are proud to announce today that ACU is the first Māori financial institution to launch a tier one banking ... More >>

Vodafone NZ delivers strong growth and return to profit

Monday, 21 August 2017, 1:56 pm | Vodafone

Vodafone New Zealand today released its results for the year ended 31 March 2017 which saw revenue increase 2.8% year on year and EBITDA 7.9%. More >>

Heartland Bank to offer up to $150 million in five-year bond

Monday, 21 August 2017, 1:19 pm | BusinessDesk

Aug. 21 (BusinessDesk) - Heartland Bank is offering up to $150 million of five-year fixed rate bonds to institutional and New Zealand retail investors and the funds will be used for general corporate purposes, it said in a release to the stock exchange. More >>

Michael Hill annual profit rises 67%

Monday, 21 August 2017, 1:11 pm | BusinessDesk

Aug. 21 (BusinessDesk) - Michael Hill International, the jewellery retailer founded by its namesake, boosted annual profit by two thirds as its Michael Hill chain grew steadily in its main markets of Australia and New Zealand and recorded stronger growth ... More >>

MPI Manuka honey standard delay 'unacceptable' says UMFHA

Monday, 21 August 2017, 1:02 pm | UMF Honey Association

Issued by UMF Honey Association (UMFHA) Spokesperson John Rawcliffe “The Ministry for Primary Industry’s (MPI) announcement that it is, once again, delaying finalisation of its definition and standard for Mānuka honey is unacceptable for both the industry ... More >>

World-first Kiwi sporting solution helps goalball grow

Monday, 21 August 2017, 12:55 pm | Packaworld

The world’s first inflatable goalball goal has been created by a Kiwi company, offering a sport previously hampered by cumbersome equipment a new avenue to be easily transported and played in a wider variety of venues. More >>

New Chief Executive at helm of Connexis

Monday, 21 August 2017, 12:37 pm | Connexis

21 August 2017: New Connexis Chief Executive Peter Benfell is joining the organisation at a time of major growth and investment for the Infrastructure industry and is looking forward to the challenge ahead. More >>

Selwyn Cushing to retire from Skellerup board

Monday, 21 August 2017, 12:18 pm | BusinessDesk

Aug. 21 (BusinessDesk) - Skellerup Holdings has appointed former investment banker David Cushing to its board from which his father, Selwyn Cushing, will retire in October. More >>

Vista buys controlling stake in Senda for $684k

Monday, 21 August 2017, 12:05 pm | BusinessDesk

Aug. 21 (BusinessDesk) - Vista Group International has bought a 60 percent stake in Mexico's Senda Direccion Tecnologica, giving it control of the Latin American reseller of the cinema analytics firm's services. More >>

NZ dollar gains as Bannon ousted

Monday, 21 August 2017, 11:52 am | BusinessDesk

Aug. 21 (BusinessDesk) - The New Zealand dollar rose as news that US President Donald Trump had dumped adviser Steve Bannon kept politics to the fore and traders looked ahead to the central bank meeting at Jackson Hole, Wyoming, where Federal Reserve ... More >>

Got a Trade? Got it Made!

Monday, 21 August 2017, 11:35 am | New Zealand Government

Got a Trade? Got it Made! Trades training and apprenticeships are in the spotlight this week as Associate Minister for Tertiary Education, Skills and Employment Louise Upston launches Got a Trade? Got it Made! Week in Wellington today. Got a Trade? ... More >>

World Week Ahead: Eyes on White House, Yellen

Monday, 21 August 2017, 11:33 am | BusinessDesk

Aug. 21 (BusinessDesk) - As central bankers from around the world including Federal Reserve chair Janet Yellen set to gather for their annual meeting in Jackson Hole, Wyoming, investors are closely watching the intensifying turmoil in the White House. More >>

nib NZ continues strong gains to deliver pleasing result

Monday, 21 August 2017, 11:04 am | nib NZ

nib holdings limited (ASX: NHF) today announced that its New Zealand operations had improved top line growth and earnings during financial year 2017. Premium revenue lifted 14.9%1 to NZ$210.9 million (AU$199.3 million) and underlying operating profit ... More >>

Visitor arrivals a record high for July

Monday, 21 August 2017, 11:01 am | Statistics New Zealand

21 August 2017 In July 2017, 246,900 overseas visitors arrived in New Zealand, setting a new July record, Stats NZ said today. This was 4 percent more visitors than in July 2016. Almost half of all visitor arrivals in July 2017 were people coming to ... More >>

Annual net gain in migrants reaches a record 72,400

Monday, 21 August 2017, 10:59 am | Statistics New Zealand

21 August 2017 - Annual net migration reached a record 72,400 in the July 2017 year, Stats NZ said today. Migrant arrivals numbered 132,100, a new annual record, and migrant departures numbered 59,700 in the year ended July 2017. More >>

Sell Out for Akina Foundation Social Enterprise World Forum

Monday, 21 August 2017, 10:44 am | Akina Foundation

The 10th Social Enterprise World Forum, to be held in Christchurch next month, has sold out with 1,300 tickets snapped up by delegates from more than 40 countries around the world. More >>

Gyms to shape up after review into unfair contract terms

Monday, 21 August 2017, 10:42 am | Commerce Commission

Gyms have agreed to amend their standard form contracts after a Commerce Commission review into unfair contract terms in the sector. More >>

New round of RONS will help NZ catch up

Monday, 21 August 2017, 10:34 am | Road Transport Forum

Road Transport Forum Chief Executive Ken Shirley has welcomed the National Party’s announcement of a new round of roads of national significance. More >>

Westland appoints new Chief Financial Officer

Monday, 21 August 2017, 10:25 am | Westland Milk Products

Westland welcomes a new Chief Financial Officer with some 20 years’ experience of international business finance on 21 August. More >>

Small businesses spend their evenings chasing invoices

Monday, 21 August 2017, 10:24 am | Xero

AUCKLAND, August 21, 2017 — Unpaid invoices are plaguing New Zealand small businesses and coming at the cost of work-life balance, according to research released by Xero today. More >>

Quitline is good value-for-money – new study

Monday, 21 August 2017, 9:57 am | University of Otago

A new study from the University of Otago, Wellington has found New Zealand’s Quitline service is a highly cost-effective way to improve health and even saves the health system money. More >>

Mandatory building guarantee now providing $2 billion cover

Monday, 21 August 2017, 9:51 am | Certified Builders Association

New Zealand Certified Builders’ mandatory residential guarantee insurance scheme has now reached nearly $2 billion of cover. While building guarantees are not mandatory under the regulatory framework, NZCB introduced its own mandatory building guarantee ... More >>

7 elements of authentic leadership

Monday, 21 August 2017, 9:34 am | Russell McVeagh

Russell McVeagh is supporting a series of events being held for law students throughout New Zealand to highlight the importance of authentic leadership. The first event is being held at the University of Canterbury this morning. More >>

Initial Coin Offerings – not immune from regulation

Monday, 21 August 2017, 9:32 am | Russell McVeagh

Despite being a novel and still-developing form of capital raising, initial coin offerings (ICOs) raise significant questions as to how legal obligations may be enforced and applied, according to insights released today from leading law firm, Russell ... More >>

Got A Trade? Got It Made! Week begins today

Monday, 21 August 2017, 9:28 am | Got A Trade

‘Got a Trade? Got it Made!’ Week starts today, celebrating 148,000 apprentices and industry trainees making a difference every day in over 140 trades and services. More >>

UMS Appointed Vodafone's Chinese Digital Marketing Partner

Monday, 21 August 2017, 9:22 am | UMS

United Media Solution (known as “UMS”), New Zealand’s leading Chinese digital marketing agency, has been appointed to manage Vodafone New Zealand’s Chinese digital marketing account. More >>

Abandoned coastal subdivision placed on the market

Monday, 21 August 2017, 9:14 am | Bayleys

A planned waterfront holiday home subdivision previously operated as a classic Kiwi campground has been placed on the market for sale by its mortgagee…. with instructions that the sections must be sold. More >>

Fair share of prosperity might be lost for many Kiwis

Monday, 21 August 2017, 9:10 am | Chartered Accountants Australia and New Zealand

New paper warns that a fair share of prosperity might be lost for many Kiwis More >>

Pet owners opting for oodles of Spoodles, Cavoodles

Monday, 21 August 2017, 9:06 am | Southern Cross Pet Insurance

Southern Cross Pet Insurance data shows the number of Cavoodles, Spoodles, and Labradoodles insured has increased 22 times over the past decade1, with Cavoodles and Spoodles the most popular in 2016. More >>

HiFX Morning Update, August 22 2017

Monday, 21 August 2017, 8:23 am | HiFX

The NZDUSD opens at 0.7313 (mid-rate) this morning. The NZD along with other commodity linked currencies had a solid end to the trading week on the back of rising commodity prices and an increase in risk appetite following the resignation of Trump’s controversial ... More >>

EDS Climate Change & Business Summit: 10-11 October

Sunday, 20 August 2017, 2:28 pm | Environmental Defence Society

The world is changing fast. Technological advancements, political upheavals, and ecological deterioration are causing massive disruption to business as usual. An economic revolution is underway. And underpinning it all is climate change. More >>

Treasure Box Announces Change of Address

Sunday, 20 August 2017, 12:38 pm | Treasure Box

Treasure Box is a service that provides quality, quantity, and safety as well. Hence, within no time, it has managed to make a huge name around the world. Recently it has been announced that they have moved their office to a new location. More >>

Celebrating success of women in construction

Saturday, 19 August 2017, 12:25 pm | Joint Press Release

Winners of the third annual Hays NAWIC Excellence Awards have been celebrated as “trail-blazing role models for women in construction” during last night’s ceremony at the Aotea Centre in Auckland. More >>

MARKET CLOSE: NZ shares up

Friday, 18 August 2017, 8:32 pm | BusinessDesk

Aug. 18 (BusinessDesk) - New Zealand shares inched up, defying global market trends, with Tourism Holdings and Fletcher Building gaining while CBL Corp plunged. More >>

NZ dollar heading for a 0.4% weekly fall in nervous markets

Friday, 18 August 2017, 8:14 pm | BusinessDesk

Aug. 18 (BusinessDesk) - The New Zealand dollar was set to end the week 0.4 percent lower against the greenback on growing concerns that US President Donald Trump's won't be able to push through his pro-business agenda and in the wake of the attack ... More >>

Paymark lifts profit, sales in 2017

Friday, 18 August 2017, 5:15 pm | BusinessDesk

Aug. 18 (BusinessDesk) - Paymark,the EFTPOS terminal provider owned by the four major banks, lifted earnings and sales in 2017, as its owners continue to search for a buyer. More >>

Kiwis continue to love being rewarded

Friday, 18 August 2017, 4:46 pm | Loyalty New Zealand

Kiwis continue to love being rewarded Fly Buys helps Loyalty NZ deliver a healthy profit in its 21st year More >>