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Latest Business Headlines

Don’t inflate your insurance claim

Wednesday, 25 May 2016, 1:02 pm | Insurance and Financial Services Ombudsman

Think twice before you inflate your insurance claim, as false statements and insurance fraud are more serious than most people think. More >>

Favourites combined to create a new Nutri-Grain flavour

Wednesday, 25 May 2016, 12:55 pm | Kellogg ANZ

Here’s a new way to enjoy your two breakfast favourites – Nutri-Grain and Ice Break coffee. More >>

Former Mighty River engineer sentenced to jail for fraud

Wednesday, 25 May 2016, 12:39 pm | BusinessDesk

May 25 (BusinessDesk) - Two people have been sentenced after they committed fraud against electricity company Mighty River Power. More >>

Fairfax Media NZ scoops highest number of first place wins

Wednesday, 25 May 2016, 12:13 pm | Fairfax Media

Fairfax Media NZ has placed first in three categories at the 2016 International News Media Association (INMA) Awards in London last night, taking more first place wins than any other company. Its winning titles were for: Best Use of Video, Best Use ... More >>

Fraud against MRP receives jail time and home detention

Wednesday, 25 May 2016, 12:12 pm | Serious Fraud Office

A pair who committed fraud against one of New Zealand’s largest power companies have been sentenced in the Auckland High Court today. More >>

Nutanix addresses SMB challenges with Xpress

Wednesday, 25 May 2016, 12:09 pm | Nutanix

SAN JOSE, Calif. – May 24, 2016 – Nutanix, a leader in enterprise cloud computing, today announced Nutanix Xpress, a new solution designed to bring the power of the Nutanix enterprise cloud platform to small and medium businesses (SMBs) at a price ... More >>

Comvita to beef up honey supply in new joint venture

Wednesday, 25 May 2016, 12:06 pm | BusinessDesk

May 25 (BusinessDesk) - New Zealand manuka honey products maker Comvita is linking up with Blenheim-based apiary operator Putake Group to form a South Island-based honey business to meet global demand for manuka honey. More >>

Kiwis Bag Travel Bargains to Escape Winter

Wednesday, 25 May 2016, 11:58 am | Cheapflights

Adventure is on the cards for thousands of Kiwis according to latest research fromCheapflights.co.nz that reveals an increasing number of locals have been locking in cheap fares to classic destinations this winter. More >>

NZ posts trade surplus in April as fruit drives exports

Wednesday, 25 May 2016, 11:56 am | BusinessDesk

May 25 (BusinessDesk) - New Zealand posted a bigger-than-expected trade surplus in April as increased volumes of gold kiwifruit and apples drove up shipments of fruit, the country's fourth-biggest export product. More >>

Arvida posts underlying full-year profit

Wednesday, 25 May 2016, 11:52 am | BusinessDesk

May 25 (BusinessDesk) - Arvida Group, which operates 21 retirement villages and aged care facilities, reported annual earnings ahead of its prospectus forecast and said it was confident of further gains in 2017. More >>

Team building important for End Of Financial Year

Wednesday, 25 May 2016, 11:47 am | Corporate Challenge Events NZ

End Of Financial Year (EOFY) is bringing a greater focus on staff unity and acknowledgment as businesses build up to this peak period, according to New Zealand and Australian team building specialist Dwain Richardson. More >>

Transpower to release long-term view for the National Grid

Wednesday, 25 May 2016, 11:46 am | Transpower

25 May 2016 Transpower to tonight release long-term view for the National Grid and electricity industry Transpower will tonight release Transmission Tomorrow, a look at the challenges and opportunities facing the electricity industry over the next ... More >>

Serko FY16 Full Year Results Announcement

Wednesday, 25 May 2016, 11:35 am | Serko

25 May, 2016 – Serko Ltd. ( SKO.NZ ) Serko, the Australasian leader in online travel booking for business, today announced its full-year audited financial results for the year ended 31 March 2016, recording total revenue of $13.1 million and 27% year-on-year ... More >>

Quarry operator ordered to pay over $150K after death

Wednesday, 25 May 2016, 11:23 am | WorkSafe NZ

A South Canterbury-based quarry and transport operator has been ordered to pay reparations of $100,000 to the family of an employee who was crushed to death while working at its Gordon Valley limestone quarry. More >>

Economics of Tiwai Point smelter still going backwards

Wednesday, 25 May 2016, 11:23 am | BusinessDesk

May 25 (BusinessDesk) - The economics of the Tiwai Point aluminium smelter continue to slide despite last week's announcement that it will be the largest single beneficiary of proposed national grid payment reforms, says Woodward Partners energy analyst ... More >>

FMA clears Silver Fern over debt disclosures

Wednesday, 25 May 2016, 11:21 am | BusinessDesk

May 25 (BusinessDesk) - The Financial Markets Authority says it doesn't believe an information pack for Silver Fern Farm shareholders on the merits of a takeover by Shanghai Maling Aquarius was misleading, even though debt turned out to be lower ... More >>

CINZ appoints new Independent Board Chair

Wednesday, 25 May 2016, 11:05 am | Conventions and Incentives NZ

Management and leadership consultant Tony Gardner has been appointed Independent Chair of the Conventions and Incentives New Zealand (CINZ) Board. He replaces John Duncan who retires as Independent Chair after 13 years in the role. The CINZ Board ... More >>

Rural Contractors annual conference coming up

Wednesday, 25 May 2016, 11:02 am | Rural Contractors NZ

Rural Contractors New Zealand (RCNZ) is encouraging all of its members – and any others interested in the agricultural contracting sector – to attend its annual conference being held in the Bay of Islands later next month. More >>

Higher fruit exports offset dairy fall

Wednesday, 25 May 2016, 10:59 am | Statistics New Zealand

Goods exports rose 4.0 percent in April 2016, up $166 million to $4.3 billion, Statistics New Zealand said today. Fruit exports led the rise, up $59 million (16 percent), offsetting a similar fall in dairy values. More >>

New VC fund hits NZ$38m

Wednesday, 25 May 2016, 10:57 am | NZ Private Equity and Venture Capital Ass

The Global from Day One (GD1) Fund II has raised NZ$38 million – NZ$5 million more than its first close target. More >>

Endace joins STAC Benchmark Council

Wednesday, 25 May 2016, 10:31 am | Endace

Endace joins STAC Benchmark Council to help automated trading meet the requirements of MiFID-II More >>

Fellet unmoved by media company 'for-sale' signs

Wednesday, 25 May 2016, 10:30 am | BusinessDesk

May 25 (BusinessDesk) - Sky Network Television chief John Fellet says he's been offered just about every media asset in Australasia but hasn't been tempted even though analysts estimate the pay-TV company could have $400 million of surplus funds as its capital ... More >>

Balex Marine signs EMEA distribution deal

Wednesday, 25 May 2016, 10:29 am | Balex Marine

Tauranga, 25 May - Balex Marine, manufacturers of the innovative Automatic Boat Loader (ABL2500), have signed an exclusive distribution agreement for the UK, Europe, Middle East and Africa (EMEA) with Forge Group (UK). More >>

AFT posts loss that meets estimates in maiden result

Wednesday, 25 May 2016, 10:27 am | BusinessDesk

May 25 (BusinessDesk) - AFT Pharmaceuticals, the Auckland-based drug developer, posted a $8.9 million operating loss for the year to March 31, its first result since listing on the NZX and ASX last December, and in line with analyst expectations. More >>

International Campaign Set to Boost NZ Dairy Exports

Wednesday, 25 May 2016, 10:23 am | Munchkin

A new multi-million-dollar marketing campaign has begun to educate Australian, Chinese and ultimately U.S consumers on the health benefits of New Zealand’s grass fed dairy products. More >>

Murray & Co sells wealth management arm

Wednesday, 25 May 2016, 10:07 am | Murray and Company

Murray & Co has sold its successful wealth management business to First NZ Capital to focus on expanding its investment banking operations. More >>

FMA: Assessment of complaints against Silver Fern Farms

Wednesday, 25 May 2016, 9:55 am | Financial Markets Authority

The Financial Markets Authority (FMA) has concluded its assessment of complaints received about Silver Fern Farms Limited (SFF) and will be taking no further action. More >>

Record-breaking 2015/16 kiwifruit season

Wednesday, 25 May 2016, 9:48 am | Zespri

The 2015/16 kiwifruit season broke records for the industry and Zespri with the biggest-ever total return to growers, highest-ever Green return per hectare and record sales volumes for both Zespri Green and Zespri SunGold Kiwifruit. More >>

Serko targets profitability in 2018

Wednesday, 25 May 2016, 9:45 am | BusinessDesk

May 25 (BusinessDesk) - Serko, the online travel booking company, expects to become profitable in 2018 after missing its downgraded guidance for operating revenue in its latest year. More >>

Kiwifruit industry in "sweet spot" with record grower return

Wednesday, 25 May 2016, 9:17 am | BusinessDesk

May 24 (BusinessDesk) - The 2015/2016 season for kiwifruit marketer Zespri has been a record-breaker on several fronts – biggest total grower return, highest Green fruit return per hectare, and record sales volumes for both Green and SunGold kiwifruit. More >>

FMA boss Everett gives regulator a pass mark

Wednesday, 25 May 2016, 9:12 am | BusinessDesk

May 25 (BusinessDesk) - Financial Markets Authority chief executive Rob Everett is giving the market watchdog a pass mark as it nears the end of its establishment phase and starts taking a closer look at ensuring firms' conduct is up to scratch. More >>

NZ dollar gains as investors weigh up Fonterra's forecast

Wednesday, 25 May 2016, 9:09 am | BusinessDesk

May 25 (BusinessDesk) - The New Zealand dollar gained as investors weighed up the outlook for Fonterra Cooperative Group's opening milk price forecast for 2017 in what's expected to be an improvement on the current season. More >>

HiFX Morning Update. May 25 2016

Wednesday, 25 May 2016, 8:53 am | HiFX

The NZDUSD opens at 0.6734 (mid-rate) this morning. Once again the NZD has respected the recent ranges against the majority of its trading partners with the British Pound being the only exception. More >>

Powerco posts 1.6% gain in full-year earnings

Wednesday, 25 May 2016, 8:47 am | BusinessDesk

May 24 (BusinessDesk) - Powerco, which supplies electricity and gas to 436,000 homes in the central and southern North Island, posted a 1.6 percent gain in pretax earnings, which it says was driven by strong customer growth and higher electricity volumes. More >>

'Battle of wills' after acquisition

Wednesday, 25 May 2016, 8:46 am | BusinessDesk

May 24 (BusinessDesk) - There was a "battle of wills" over spending on the Clear Grain Exchange between former NZX chief Mark Weldon and the trading platform's former owners after NZX acquired the business in 2009, Wellington's High Court has heard. More >>

MARKET CLOSE: NZ shares drop, Tower and Air NZ fall

Wednesday, 25 May 2016, 8:42 am | BusinessDesk

May 24 (BusinessDesk) - New Zealand shares fell as Tower tumbled after reporting a wider full-year loss and Air New Zealand dropped to an 18-month low while Kathmandu Holdings recovered on optimism a cold snap across the country will boost sales of ... More >>

While you were sleeping: US housing shows strength

Wednesday, 25 May 2016, 6:15 am | BusinessDesk

May 25 (BusinessDesk) - Equities on both sides of the Atlantic moved higher, as did the US dollar, as investors warmed to the idea that the US Federal Reserve might raise interest rates as early as June, while Toll Brothers’ earnings and new home ... More >>

NZ dollar drops as June rate-cut bets fade

Tuesday, 24 May 2016, 5:39 pm | BusinessDesk

NZ dollar drops as June rate-cut bets fade, RBA to stick with inflation target More >>

First NZ Capital buys Wealth Management arm of Murray & Co

Tuesday, 24 May 2016, 5:06 pm | First NZ Capital

CEO of First NZ Capital (FNZC) Scott St John is pleased to announce that FNZC has bought Murray & Co.’s Wealth Management business. More >>

New taxi line up to deliver increased choice at Airport

Tuesday, 24 May 2016, 4:51 pm | Auckland Airport

Auckland Airport today revealed the new roster of taxi companies that will operate from the airport’s domestic and international terminals for the next three years. More >>

Green Cross acquisitions drive 18% lift in annual profit

Tuesday, 24 May 2016, 4:35 pm | BusinessDesk

May 24 (BusinessDesk) - Green Cross Health lifted annual profit 18 percent as the primary healthcare group added to its pharmacy chain and expanded into community nursing and medical services. More >>

NZ commercial real estate returns highest since the GFC

Tuesday, 24 May 2016, 4:33 pm | Property Council Of New Zealand

The Property Council New Zealand/IPD New Zealand Quarterly Property Index Q1 2016 results have been released. More >>

New report forecasts a shortfall of 26 hotels in next decade

Tuesday, 24 May 2016, 4:09 pm | BusinessDesk

New report forecasts a shortfall of 26 hotels in next decade, above what's already being built More >>

Revolutionary Marketing Network Expands to New Zealand

Tuesday, 24 May 2016, 4:03 pm | Tipping Point Marketing

Revolutionary Marketing Network Known for Tripling Revenues for Companies in One Year Expands to New Zealand More >>

Murray Horn resigns second board, Spark, on health grounds

Tuesday, 24 May 2016, 3:59 pm | BusinessDesk

May 24 (BusinessDesk) - Murray Horn has resigned from the board of New Zealand's biggest telecommunications company, Spark New Zealand, due to illness. More >>

Figured wins NZ Hi Tech Start Up Company of the Year Award

Tuesday, 24 May 2016, 3:35 pm | Figured

Figured Ltd took home the New Zealand Venture Investment Fund Hi Tech Start Up Company of the Year award at the 2016 awards gala on 21 May. More >>

New Workplace Safety Measures Implemented

Tuesday, 24 May 2016, 3:29 pm | OneStaff

With dozens of workplace deaths every year, new health and safety laws aim to reduce actual workplace harm rather than just focusing on trivial hazards. More >>

Soltius celebrates 20th anniversary

Tuesday, 24 May 2016, 3:14 pm | Soltius New Zealand

Auckland 24 May 2016 – Enterprise systems specialist Soltius, New Zealand’s only Gold SAP Partner, celebrates its 20th birthday this month and CEO Nick Mulcahy says the company’s success is as much to do with staff attitude as it is technical expertise. ... More >>

Can an appliance be cheap as chips and reliable?

Tuesday, 24 May 2016, 2:15 pm | Consumer

How much do you need to spend to get a reliable dishwasher? $1000, $2000, even more? It might not be as much as you think, according to the latest appliance reliability survey from Consumer NZ. More >>

Pyne Gould finally lodges 2015 annual report

Tuesday, 24 May 2016, 2:07 pm | BusinessDesk

May 24 (BusinessDesk) - Pyne Gould Corp, whose NZX-listed shares have been suspended from trading since October, has lodged its 2015 annual report after a lengthy delay which has been blamed on switching auditors. More >>

Houzz Launches in New Zealand

Tuesday, 24 May 2016, 2:06 pm | Houzz

World’s leading home renovation and design platform to shake up New Zealand’s $6 billion home renovation market with houzz.co.nz, specifically tailored to needs of Kiwi users More >>

ITx 2016 Programme released

Tuesday, 24 May 2016, 2:05 pm | Institute of IT Professionals

This year IITP is collaborating with 12 tech associations to bring one mega-conference to New Zealand, ITx 2016, and now's your chance to be there. More >>

new strategies needed to catch next wave of growth

Tuesday, 24 May 2016, 2:03 pm | Rabobank

Strong growth in both volume and value terms is possible for New Zealand’s chicken meat industry, but it needs to focus on alternative strategies to capture new opportunities, according to a new report by agribusiness specialist Rabobank. More >>

MTA announces new Chief Executive, Craig Pomare

Tuesday, 24 May 2016, 2:00 pm | Motor Trade Association

Mr Pomare will assume responsibility immediately, succeeding Warwick Quinn who recently left MTA to lead the BCITO. More >>

E t meets with Spotless to sort out pay problems

Tuesday, 24 May 2016, 1:56 pm | E tu

E T has met today with Spotless and says it is working with the contracting company to fix the pay issues dogging its cleaning and kitchen staff. More >>

Social Media Complaints to Telco Provider

Tuesday, 24 May 2016, 1:13 pm | Spark Complaints

Spark's Facebook page is littered with complaints, many from angry customers who have been hung up on after waiting hours on hold to talk to someone in customer service. Are Spark call staff hanging up on customers to meet company call targets? More >>

The Rees Hotel Queenstown Scoops Two Major Traveller Awards

Tuesday, 24 May 2016, 12:58 pm | Rees Hotel

Once again The Rees Hotel Queenstown has been voted one of the top hotels in New Zealand by two major online booking agencies, as assessed by the international travelling public. Last week The Rees was one of only fifteen New Zealand hotels to gain the ... More >>

UPDATE: Tower shares sink to two-month low

Tuesday, 24 May 2016, 12:55 pm | BusinessDesk

May 24 (BusinessDesk) - Tower shares dropped to a two-month low after the general insurer posted a wider first-half loss and flat gross written premium income, raising questions about its ability to compete with larger rivals. More >>

Salt Receives Investment from Global Player

Tuesday, 24 May 2016, 12:10 pm | salt

One of New Zealand’s leading recruitment firms, salt, and their Asia Pacific sister company, font, attracts investment from global digital recruitment specialists, More >>

Latest Overseer Update Reduces Workload For Users

Tuesday, 24 May 2016, 12:09 pm | Overseer

OVERSEER Limited released today the latest update to OVERSEER® Nutrient Budgets (or OVERSEER). The new version OVERSEER 6.2.2 reduces the amount of manual data users need to input into the tool. More >>

 

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