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MARKET CLOSE: NZ shares rise, led by GPG, Xero

Tuesday, 23 December 2014, 5:31 pm | BusinessDesk

Dec. 23 (BusinessDesk) - New Zealand shares extended recent gains led by Guinness Peat Group and Xero as investors bought into companies that have been sold off this year seeking opportunities in a low interest rate environment. Kathmandu Holdings ... More >>

NZ dollar gains vs. A$ as falling commodity prices weigh

Tuesday, 23 December 2014, 5:02 pm | BusinessDesk

Dec. 23 (BusinessDesk) - The New Zealand dollar rose above 95 Australian cents as falling oil prices weigh on the Australian economy, whose exports are largely hard commodities such as iron ore and precious metals. More >>

Angel Lee is Astill Hawke’s newest Business Buddy

Tuesday, 23 December 2014, 3:34 pm | Astill Hawke

Chartered Accountant Angel Lee has become a Business Buddy at Astill Hawke and Associates in East Tamaki. Lee qualified as a chartered accountant in 2014 and previously worked in a central Auckland accounting firm for more than five years. More >>

SKYCITY - John Mortensen Chief Operating Officer NZ

Tuesday, 23 December 2014, 3:26 pm | SKYCITY

SKYCITY Auckland’s General Manager, John Mortensen, has been promoted to Chief Operating Officer New Zealand/GM SKYCITY Auckland, announced SKYCITY’s Chief Executive Nigel Morrison today. More >>

IAG lifts expected Canterbury quake claim costs by up to $1B

Tuesday, 23 December 2014, 1:46 pm | BusinessDesk

Dec. 23 (BusinessDesk) - Insurance Australia Group, New Zealand's biggest general insurer, expects as much as $1 billion more in final claims from the 2010 and 2011 Canterbury earthquakes that levelled the country's second biggest city due to an ... More >>

Chorus signs new UFB agreements with Downer, Transfield

Tuesday, 23 December 2014, 1:31 pm | BusinessDesk

Dec. 23 (BusinessDesk) - Chorus, the telecommunications network operator, has entered into new service agreements with Downer and Transfield Services to build part of its government-subsidised ultrafast broadband network. More >>

Paymark confirms steady Christmas for retailers

Tuesday, 23 December 2014, 1:06 pm | Paymark

Spending via the Paymark network for the first 22 days of December is up 4.6% on the same period last year with a total of $3.9 billion spent. Kiwis have spent an extra $170 million this year compared to last year’s $3.7 billion for the same ... More >>

Profitability rises across all winery sizes in 2014: report

Tuesday, 23 December 2014, 12:56 pm | BusinessDesk

Dec. 23 (BusinessDesk) - The turnaround in the New Zealand wine industry has continued this year with improved profitability across wineries of all sizes, according to the 9th annual financial benchmarking survey released by Deloitte and New Zealand ... More >>

NZ Online Retail Sales: Monthly update for November

Tuesday, 23 December 2014, 12:45 pm | Bank of New Zealand

BNZ and Marketview have released their latest monthly report on New Zealand’s Online Retail Sales. New Zealand’s total online spending in November was up a moderate 5% on the same month last year. More >>

Lyttelton Port Should Negotiate and not Litigate

Tuesday, 23 December 2014, 12:39 pm | Rail And Maritime Transport Union

Lyttelton Port of Christchurch (LPC) should negotiate and not litigate, says the Rail and Maritime Transport Union (RMTU) after the port failed to injunct workers who walked off the job on grounds of health and safety on Friday night. More >>

Supreme Court upholds validity of Dotcom search warrants

Tuesday, 23 December 2014, 12:39 pm | BusinessDesk

Dec. 23 (BusinessDesk) - The Supreme Court has ruled the search warrants executed in the high-profile arrest of internet entrepreneur Kim Dotcom were valid, although Chief Justice Sian Elias was a dissenting voice on the bench. More >>

Wgtn Hilton project relocates after land price standoff

Tuesday, 23 December 2014, 12:37 pm | BusinessDesk

Dec. 23 (BusinessDesk) - A proposed $125 million Hilton Hotel and convention centre in Wellington will relocate to port-owned land near the central railway station after what is believed to have been a standoff over the price of the original site. More >>

Christmas Spending up – Big Day Expected Tomorrow

Tuesday, 23 December 2014, 12:33 pm | Retail NZ

Retail NZ says that today’s spending figures from Paymark confirm anecdotal feedback that Kiwis are getting ready for Christmas. “Kiwis have collectively spent $170 million more this December compared to last year, despite a flat start to the Christmas ... More >>

Wine industry shows continuing increased profitability

Tuesday, 23 December 2014, 12:29 pm | Deloitte

The turnaround in the New Zealand wine industry has continued in 2014 on the back of improved profitability across wineries of all sizes, according to the ninth annual financial benchmarking survey released today by Deloitte and New Zealand Winegrowers. More >>

NZ Refining signs platinum sale and lease back deal

Tuesday, 23 December 2014, 12:29 pm | BusinessDesk

Dec. 23 (BusinessDesk) - New Zealand Refining, which operates the Marsden Point refinery, has entered into a sale and lease back agreement for industrial platinum with Bank of Nova Scotia which it anticipates will cut annual costs by about $500,000. More >>

Pay Equity Challenge Coalition on Supreme Court decision

Tuesday, 23 December 2014, 12:14 pm | Pay Equity Challenge Coalition

Yesterday’s decision by the Supreme Court not to accept an appeal by the employers of rest home caregiver Kristine Bartlett, means that the case can now return back to the Employment Court. More >>

GMI first to be granted new licence

Tuesday, 23 December 2014, 12:05 pm | Gareth Morgan Investments

GMI is proud to announce that the Gareth Morgan Investments Limited Partnership is the first investment manager to be granted the new Discretionary Investment Management Service (DIMS) licence by the Financial Markets Authority for its Private Portfolio ... More >>

Endace reports US$22.5 mln FY loss, gets letter of support

Tuesday, 23 December 2014, 11:49 am | BusinessDesk

Endace reports US$22.5 mln FY loss, gets letter of support from US parent More >>

NZ trade deficit narrows in November on rising meat exports

Tuesday, 23 December 2014, 11:36 am | BusinessDesk

Dec. 23 (BusinessDesk) - New Zealand posted its smallest November trade deficit in four years, beating economist forecasts, as falling dairy prices were offset by a rise in meat exports. More >>

Dairy exports continue to fall from late 2013 highs

Tuesday, 23 December 2014, 11:08 am | Statistics New Zealand

Total goods exports fell 9.5 percent to $4.0 billion in November 2014 compared with November 2013, Statistics New Zealand said today. Imported goods fell 1.3 percent to $4.2 billion. More >>

Pernod Ricard cuts deal over convertible note tax dispute

Tuesday, 23 December 2014, 11:01 am | BusinessDesk

Dec. 23 (BusinessDesk) - Pernod Ricard has joined the list of firms cutting deals with the Inland Revenue Department to settle tax disputes over the use of mandatory convertible notes, a popular way to finance trans-Tasman acquisitions in the 2000s. More >>

Vodafone encourages motorists to DriveSafe

Tuesday, 23 December 2014, 10:48 am | Vodafone

Vodafone is encouraging more customers to take advantage of its free DriveSafe service to remove the pressure to check and reply to TXT messages while on the road this Christmas. More >>

Sealord returns to FY profit, provides for Nelson job cuts

Tuesday, 23 December 2014, 10:44 am | BusinessDesk

Dec. 23 (BusinessDesk) - Sealord, New Zealand's second largest fishing company, returned to profit in the 2014 year, while taking payroll provisions as it prepares to downsize its Nelson wetfish factory. More >>

Gibbston Valley Winery launches full-service bike centre

Tuesday, 23 December 2014, 10:42 am | Gibbston Valley Wines

Award-winning Gibbston Valley Winery is adding to the experiences that locals and visitors can enjoy at the winery with the opening of a new on-site bike centre. Gibbston Valley Winery CEO Greg Hunt said the centre was the next stage in the company’s ... More >>

Keep convention centre alive, says Chamber

Tuesday, 23 December 2014, 10:30 am | Wellington Employers' Chamber of Commerce

The City Council should put every effort into keeping alive the convention centre for Wellington, says Wellington Employers’ Chamber of Commerce President John Milford. More >>

Top 10 predictions for the Internet in 2015

Tuesday, 23 December 2014, 10:27 am | InternetNZ

In the spirit of bravery and Christmas Cheer, and with the knowledge of almost certainly being proven wrong on many of these, InternetNZ has made its Top 10 Predictions for the Internet in 2015. More >>

Landcorp seeks to fatten sheep returns through wool, milk

Tuesday, 23 December 2014, 10:05 am | BusinessDesk

Dec. 23 (BusinessDesk) - Landcorp, New Zealand’s largest corporate farmer, is moving on two fronts to expand the money it makes from sheep, signing a three-year contract with NZ Merino to manage its entire wool clip and planning a trial of milking some ... More >>

New Directors Announced

Tuesday, 23 December 2014, 9:44 am | Dunedin City Council

The Dunedin City Council is pleased to announce the appointment of directors, Keith Cooper to Dunedin City Holdings Limited and Raewyn Lovett and Alan McConnon to Dunedin Venues Management Limited. More >>

University of Canterbury v The Insurance Council of NZ

Tuesday, 23 December 2014, 9:40 am | NZ Supreme Court

(SC 120/2013) [2014] NZSC 193 University of Canterbury v The Insurance Council of New Zealand Inc More >>

Sealord nets a profit and pays dividend

Tuesday, 23 December 2014, 9:18 am | Sealord

Sealord Group Ltd has reported a net profit after tax of NZD$25.4 million for its financial year ending 30th September 2014 More >>

Mission Estate Tops the Tables in UK On-Premise Survey

Tuesday, 23 December 2014, 9:16 am | Mission Estate Winery

According to new research conducted by Wine Business Solution, New Zealand’s oldest winery, Mission Estate, is the most successful New Zealand brand in the UK for on premise listings in 2014. More >>

The people have spoken – Mazda3 earns top honours, again

Tuesday, 23 December 2014, 9:10 am | Automobile Association

Mazda3 has earned accolades from the public following its top billing at the New Zealand Car of the Year earlier this month. More >>

Survey finds 29,900 more wanting to buy homes than sell

Tuesday, 23 December 2014, 8:50 am | Horizon Research Limited

Any Reserve Bank relaxing of rules allowing banks to lend to more people with less than 20% deposits for homes would increase the number of “definite buyers” in the market from 5.9% to 7.3%. More >>

NZ dollar dips on signs of US economic growth

Tuesday, 23 December 2014, 8:44 am | BusinessDesk

Dec. 23 (BusinessDesk) - The New Zealand dollar slipped as stocks on Wall Street rallied ahead of economic data that's expected to show a faster pace of growth in the world's biggest economy. More >>

While you were sleeping: Intel, IBM advance

Tuesday, 23 December 2014, 7:40 am | BusinessDesk

Dec. 23 (BusinessDesk) - Wall Street rose as gains in shares of Intel and IBM outweighed declines in shares of Chevron and Exxon Mobil, as investors positioned themselves for the end of the year. More >>

MARKET CLOSE: NZ shares rise led by NZOG; Kathmandu slides

Monday, 22 December 2014, 5:31 pm | BusinessDesk

Dec. 22 (BusinessDesk) - New Zealand shares rose, led by New Zealand Oil and Gas after it bought a cornerstone stake in ASX-listed Cue Energy. Fletcher Building and Sky Network Television advanced as dual-listed stocks followed the Australian bourse ... More >>

Supreme Court denies Terranova leave to appeal in pay case

Monday, 22 December 2014, 5:10 pm | BusinessDesk

Dec. 22 (BusinessDesk) - The Supreme Court has denied aged care provider Terranova Homes and Care, at the centre of a landmark court case paving the way for gender pay equity, leave to appeal the ruling. More >>

NZ dollar little changed in lead-up to Christmas

Monday, 22 December 2014, 5:06 pm | BusinessDesk

Dec. 22 (BusinessDesk) - The New Zealand dollar was little changed as activity ebbed in the lead-up to the Christmas-New Year break, when many local market participants tend to take holidays. More >>

Smiths City more than doubles 1H profit on insurance payment

Monday, 22 December 2014, 4:11 pm | BusinessDesk

Dec. 22 (BusinessDesk) - Smiths City Group, the Christchurch-based retail chain, more than doubled first-half profit as it recognised a $2.9 million insurance payment to help repair its flagship Colombo St store, though trading remained competitive ... More >>

Yellow's owner may be wound up, assets moved to new vehicle

Monday, 22 December 2014, 4:10 pm | BusinessDesk

Yellow's owner may be wound up, assets moved to new vehicle, before debt deadline More >>

New Strategic Direction for Restaurant Association

Monday, 22 December 2014, 4:01 pm | Restaurant Association of NZ

New Strategic Direction for Restaurant Association Auckland, 22 December 2014 – The Restaurant Association of New Zealand, the industry organisation for restaurants, cafes and other members of the hospitality sector announced that it is stepping away ... More >>

World-class entrepreneur joins ARANZ Geo Board of Directors

Monday, 22 December 2014, 3:28 pm | ARANZ

Scott Houston joins ARANZ Geo’s Board of Directors as company focuses on pushing innovation boundaries and global expansion More >>

New Business at The Landing

Monday, 22 December 2014, 2:49 pm | Southern PR

The latest to join a host of exciting new businesses at The Landing development, Queenstown, are worldwide gym sensation Snap Fitness and House of Travel. More >>

Rex Bionics stock almost halves in value after sales warning

Monday, 22 December 2014, 2:25 pm | BusinessDesk

Dec. 22 (BusinessDesk) - Rex Bionics, the local company which listed on the London Stock Exchange’s growth-orientated AIM market in May, almost halved in value last week after it warned commercial sales will take longer than expected to eventuate. More >>

Contribution to Māori Television Acknowledged

Monday, 22 December 2014, 2:05 pm | Maori Television Service

Māori Television has recognised the contribution of long serving Board member and Deputy Chair Tahu Potiki as he steps down from the Board. More >>

UPDATE: Kathmandu warns of slow Christmas trading in Aust

Monday, 22 December 2014, 1:32 pm | BusinessDesk

Dec. 22 (BusinessDesk) - Shares of Kathmandu Holdings plunged near a two-year low after the outdoor equipment retailer reported a slowdown in sales growth after a subdued start to Christmas shopping in its Australian market. More >>

Villumsen new brand ambassador for Revbox

Monday, 22 December 2014, 1:06 pm | Enthuse

Villumsen new brand ambassador for Revbox 22 December 2014 Commonwealth Games gold medallist Linda Villumsen is the new Brand Ambassador for the Revbox ERG, a stationary trainer that was launched early last year by Christchurch based European Sport Imports. More >>

ABA Delivers Improved HY Profit, Confirms Increased Dividend

Monday, 22 December 2014, 12:41 pm | Abano Healthcare Group Limited

Abano Healthcare Group (NZX:ABA) has delivered a 51% increase in half year profit and confirmed an increased interim dividend payment of 10 cents per share, up 37% on the previous year. More >>

Final liability allocation for telecommunications providers

Monday, 22 December 2014, 12:37 pm | Commerce Commission

The Commerce Commission has released its final decision confirming how much 22 telecommunications providers will pay towards the $50 million Telecommunications Development Levy (TDL) for 2013/14. More >>

Commission concludes plasterboard investigation

Monday, 22 December 2014, 12:25 pm | Commerce Commission

The Commerce Commission has completed its investigation into allegations that Winstone Wallboards Limited (a subsidiary of Fletcher Building) acted anti-competitively to maintain its market position in the manufacture and supply of plasterboard. More >>

Kiwi Property NZX Announcements

Monday, 22 December 2014, 12:13 pm | Kiwi Income Property Trust

Please find attached a copy of our announcements which have been released by the NZX this morning. More >>

Interim Report 2015

Monday, 22 December 2014, 12:08 pm | Fisher And Paykel Healthcare

Interim Report 2015 Fisher & Paykel Healthcare Corporation Limited has released its Interim Report for the six months ended 30 September 2014. The report is available online at or you can click ... More >>

Councils must change attitude and culture to address housing

Monday, 22 December 2014, 12:05 pm | Property Council Of New Zealand

District planning rules must consider the economic feasibility of development while addressing land for housing More >>

Holiday parks looking forward to peak season

Monday, 22 December 2014, 11:53 am | Holiday Accommodation Parks Assn of NZ

Holiday parks are gearing up for their busiest weeks of the year and many are expecting to be busier than ever. More >>

Let’s not forget about the far South this festive season

Monday, 22 December 2014, 11:18 am | NZ Post Group

At this time of year the spotlight is firmly on the North Pole and it’s most famous resident Santa Claus, but spare a thought for approximately 85 people braving the freezing temperatures at Scott Base, New Zealand's permanent research support station ... More >>

Sony announces pricing for new Smartwear Experience

Monday, 22 December 2014, 11:13 am | Sony New Zealand Limited

SmartWear Experience is Sony’s vision for smart, wearable technology founded on three principles: lifelogging, flexible style and intelligent notifications, available just in time for Christmas. More >>

Fairfax to raise about A$96M in Australian radio deals

Monday, 22 December 2014, 11:10 am | BusinessDesk

Fairfax to raise about A$96M selling 96FM to APN, merging radio assets with Macquarie More >>

FMA welcomed onto global forum for independent oversight

Monday, 22 December 2014, 11:09 am | Financial Markets Authority

The Financial Markets Authority (FMA) has been accepted on to the International Forum of Independent Audit Regulators (IFIAR), in recognition of the robust oversight system the FMA has established in New Zealand. IFIAR was established in 2006 by independent ... More >>

Ecostore Expands into South Korea

Monday, 22 December 2014, 11:07 am | Schuck PR

22 December 2014 - Auckland, New Zealand - ecostore has signed a deal that will see them exporting into South Korea. The New Zealand company recently made headlines by being the only manufacturer in the world to convert all its proprietary bottles ... More >>

Beef + Lamb New Zealand Director Elections

Monday, 22 December 2014, 11:06 am | Beef And Lamb NZ

Nominations have now closed for two farmer-elected positions on the Beef + Lamb New Zealand board. More >>


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