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Latest Business Headlines

NZ dollar little changed as hopes grow for clear signal

Saturday, 27 August 2016, 5:36 pm | BusinessDesk

Aug. 26 (BusinessDesk) - The New Zealand dollar was little changed, holding above 73 US cents as traders debate whether Federal Reserve chair Janet Yellen will give a clear signal on the timing and pace of US interest rate hikes when she addresses ... More >>

Supreme Court strikes out Trinity tax appeal

Saturday, 27 August 2016, 5:28 pm | BusinessDesk

Aug. 26 (BusinessDesk) - The Supreme Court has dismissed the latest appeal in the long-running Trinity tax case after architect Garry Muir gave up his argument during the hearing. More >>

KiwiRail posts $85.5M 'above-rail' FY earnings

Friday, 26 August 2016, 4:14 pm | BusinessDesk

Aug. 26 (BusinessDesk) - KiwiRail, the state-owned rail and freight operator, posted earnings before interest, tax, depreciation and finance costs of $85.5 million in the year to June 30, down $5 million on the previous year despite a 300,000 tonne ... More >>

Visitor spend in Christchurch bouncing back

Friday, 26 August 2016, 4:06 pm | Christchurch and Canterbury Tourism

Christchurch and Canterbury Tourism says figures for July 2016 released today by Ministry of Business, Innovation and Employment show visitor spend is on the rise. CCT chief executive, Vic Allen says the latest visitor spend survey is good news ... More >>

Cavalier Corporation returns to profit

Friday, 26 August 2016, 3:59 pm | Cavalier Corporation

New Zealand carpet maker Cavalier Corporation has returned to a profitable position posting a net profit after tax of $3.1 million for the financial year ended 30 June 2016. This represents a significant turnaround from the company’s write downs and ... More >>

Kordia Group Delivers Bumper $12.3m Profit

Friday, 26 August 2016, 3:52 pm | Kordia

Specialist telecommunications, broadcast and cybersecurity business Kordia Group has reported a 2016 net profit after tax of $12.3m, exceeding its target by $5.6m (85 per cent) and achieving a 33 per cent increase over the preceding year’s $9.2m. More >>

All Blacks Sevens Return to the Runway

Friday, 26 August 2016, 3:39 pm | Jockey

All Blacks Sevens Return to the Runway with Surprise Fashion Show This year’s fashion front-row were treated to a Jockey underwear fashion show featuring the All Blacks Sevens and Jockey’s new women’s ambassador Matilda Rice. Will Radford, ... More >>

TVNZ reports profit of $12.7 million

Friday, 26 August 2016, 3:29 pm | TVNZ

TVNZ reports profit of $12.7 million and dividend payment of $13.4 million for the 2016 financial year More >>

New Zealand Business in Good Hands

Friday, 26 August 2016, 3:29 pm | Future Business Leaders

The inaugural Future Business Leaders Awards event was held last night in Auckland to celebrate the achievements of New Zealand’s ‘bright young things’ in the trades and services. More >>

London and New York style storage service coming to NZ

Friday, 26 August 2016, 3:26 pm | Stop Ur Box

Following a wave of popularity in London and New York, valet style ‘small item’ storage will soon be available to New Zealanders. Store Ur Box is the kiwi equivalent to this overseas trend. More >>

Dunedin owners of Central Otago winery win first wine trophy

Friday, 26 August 2016, 3:22 pm | Black Quail

Central Otago’s Black Quail Estate vineyard and truffière is victorious after being awarded the Mike Wolter Memorial Trophy and Champion Pinot Noir at the Bragato Wine Awards in Marlborough last night. Black Quail Estate 2013 Pinot Noir is a true ... More >>

NZ Sotheby’s International Realty launches brand new office

Friday, 26 August 2016, 2:53 pm | Sotheby's International Realty

As demand for premium properties in Waiheke Island continues to soar, New Zealand Sotheby’s International Realty is gaining a foothold in the local market with a brand new office. More >>

Infinity Investment Group Purchases Yaldhurst Village

Friday, 26 August 2016, 2:49 pm | Infinity Investment Group Holdings

One of the South Island’s leading property development companies, Infinity Investment Group Holdings Limited has announced the purchase of Yaldhurst Village in Christchurch. More >>

Drop Your Boss 2016

Friday, 26 August 2016, 2:20 pm | Graeme Dingle Foundation

This year Drop Your Boss will dare ‘droppers’ to plummet off the Harcourts Building to raise funds towards the re-introduction of the Kiwi Can Programme to the Wellington Region. More >>

More evidence that MPI doesn’t prosecute fish dumping

Friday, 26 August 2016, 2:09 pm | LegaSea

An Official Information Act request by Radio New Zealand has revealed that less than one per cent of all fisheries prosecutions are related to fish dumping. More >>

Air NZ shares edge up as earnings outlook hangs over profit

Friday, 26 August 2016, 1:13 pm | BusinessDesk

Aug. 26 (BusinessDesk) - Air New Zealand’s shares have bounced around in sharemarket trading today despite reporting record full-year earnings as the country's largest airline warned of an earnings drop ahead due to growth in international carriers ... More >>

Seeka reports $7.1 million net profit for June half year

Friday, 26 August 2016, 1:04 pm | Seeka Kiwifruit Industries

Seeka reports $7.1 million net profit for June half year, up 92 per cent More >>

SkyTV earnings per viewer fall as programme costs rise 11.6%

Friday, 26 August 2016, 12:50 pm | BusinessDesk

Aug. 26 (BusinessDesk) - The cost of maintaining the most compelling sports, television series and movies rose 11.6 percent to $331.1 million in the year to June 30, says pay-TV provider Sky Network Television, taking the cost of programming to 35.7 percent ... More >>

Central Otago winery nails Decanter tasting in UK

Friday, 26 August 2016, 12:45 pm | Lowburn Ferry Wines

Central Otago winegrowers Roger and Jean Gibson are elated that a wine from their Lowburn Ferry vineyard has ranked Number One in high profile Decanter magazine in the UK. The in-depth tasting of more than 170 pinot noirs from across New Zealand ... More >>

New Zealand Post Group reports net profit of $141m

Friday, 26 August 2016, 12:13 pm | New Zealand Post

The New Zealand Post Group has reported a net profit after tax (NPAT) of $141 million for the year ended June 2016 confirming a steady year-on-year financial performance for the Group overall. More >>

TTL campaign for Wattie’s Baked Beans and Spaghetti

Friday, 26 August 2016, 12:01 pm | Heinz Watties

Shelley Smith, Group Marketing Manager for Wattie’s Quick Serve Meals says, “Wattie’s Baked Beans and Spaghetti are iconic products that Kiwis have an emotional connection with. We wanted to celebrate and remind people why they’re not just a product for ... More >>

Seeka hikes interim dividend

Friday, 26 August 2016, 12:00 pm | BusinessDesk

Aug. 26 (BusinessDesk) - Seeka Kiwifruit Industries hiked its interim dividend to shareholders as the first harvest from its recent Australian acquisition and record crops contributed to a first-half profit that almost doubled. More >>

Tough second-half hurts NZ Post and Kiwibank

Friday, 26 August 2016, 11:57 am | BusinessDesk

Aug. 26 (BusinessDesk) - State-owned New Zealand Post and its banking subsidiary Kiwibank both reported reduced profits after tax for the year to June 30, with NZ Post's result bolstered by one-off benefits from an Australian asset sale and Kiwibank ... More >>

Delegat to pay bigger dividend

Friday, 26 August 2016, 11:56 am | BusinessDesk

Aug. 26 (BusinessDesk) - Delegat Group will pay a bigger dividend to shareholders after reporting a record operating profit for the 2016 financial year, with North American sales driving revenue growth. More >>

NZME posts 0.5% gain in debut first-half earnings

Friday, 26 August 2016, 11:55 am | BusinessDesk

NZME posts 0.5% gain in debut first-half earnings as costs fell faster than revenue More >>

Intergen admitted to Microsoft Dynamics Inner Circle

Friday, 26 August 2016, 11:52 am | Intergen

Wellington, New Zealand – 26 August 2016 – Intergen has been admitted to the exclusive Microsoft Dynamics Inner Circle 2016, an elite group of 60 of the most strategic Microsoft Dynamics partners from around 10,000 certified Dynamics partners ... More >>

Financial results for Kiwi Group Holdings

Friday, 26 August 2016, 11:29 am | Kiwibank

Kiwi Group Holdings (‘Group’), which comprises Kiwibank Limited and associated wealth management, insurance and lending businesses has achieved an after tax profit of $131 million for the year ended 30 June 2016 – down 0.8% on the previous year1. More >>

Business assets reach almost $1.8 trillion

Friday, 26 August 2016, 11:21 am | Statistics New Zealand

In 2015, New Zealand businesses held assets valued at nearly $1.8 trillion ($1,793 billion), Statistics New Zealand said today. These assets included cash, loans, plant and machinery, and land and buildings. More >>

Air New Zealand announces record profit

Friday, 26 August 2016, 10:48 am | Air New Zealand

Air New Zealand announces record profit, dividend and staff bonus 2016 Key achievements: • Record earnings before other significant items and taxation of $806 million* , up 70% • Record net profit before taxation of $663 million , up 40% • Record ... More >>

Ray White City Apartments recognised internationally

Friday, 26 August 2016, 10:40 am | Ray White

After garnering 1st place in the 2015 ‘Large Residential / Highest Volume’ category in last month’s REINZ awards, Ray White City Apartments continues reaping the accolades after being recognised as Ray White International’s #2 Office of the Year. More >>

CBL reports first half operating profit lift of 44%

Friday, 26 August 2016, 10:14 am | CBL Insurance

CBL Corporation (CBL)’s strong first-half performance to 30th June 2016 has put the company well on track to meeting its full-year profit targets, says Managing Director Peter Harris. More >>

2016 Bayer Young Viticulturist of the Year announced

Friday, 26 August 2016, 10:07 am | New Zealand Winegrowers

Congratulations to Cameron Price from Villa Maria, Hawke’s Bay who is the Bayer Young Viticulturist of the Year 2016. After a tough final Price was thrilled to receive this prestigious reward on Thursday night at the Bragato Wine Awards. “All that ... More >>

CBL first-half profit falls 19%

Friday, 26 August 2016, 10:02 am | BusinessDesk

Aug. 26 (BusinessDesk) - CBL Corp posted an 18 percent fall in first-half profit as losses on foreign exchange movements offset improved earnings and growth in the credit surety and financial risk insurer's gross written premiums. More >>

Air NZ rides the tourism boom with record full-year earnings

Friday, 26 August 2016, 10:01 am | BusinessDesk

Aug. 26 (BusinessDesk) - Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More >>

Otago Station Enjoys Benefits Of Farm Awards

Friday, 26 August 2016, 10:00 am | Ballance Farm Environment awards

Otago farmer Marty Deans entered the Ballance Farm Environment Awards because he wanted to benchmark the operation he manages and learn more about improving sustainability. More >>

2016 Romeo Bragato Wine Awards

Friday, 26 August 2016, 9:49 am | New Zealand Winegrowers

An Auckland Chardonnay and a Hawke’s Bay Cabernet Sauvignon Merlot both shone at this year’s Romeo Bragato Wine Awards. More >>

FCA approves Tech Mahindra acquisition of Target Group

Friday, 26 August 2016, 9:48 am | Target Group

Target Group, the financial services outsourcing and software provider, has welcomed the FCA’s confirmation that it has formally approved Target’s acquisition by Tech Mahindra, a global specialist in digital transformation. The transaction, announced ... More >>

RITANZ welcomes recommendations of Insolvency Working Group

Friday, 26 August 2016, 9:37 am | RITANZ

Auckland, 25 August 2016 – RITANZ, the professional body for New Zealand insolvency practitioners, today welcomed the recommendations of MBIE’s Insolvency Working Group in particular the licensing system for insolvency practitioners. More >>

Vista first-half profit more than doubles

Friday, 26 August 2016, 9:34 am | BusinessDesk

Aug. 26 (BusinessDesk) - Vista Group International more than doubled first-half profit as the cinema software developer's series of recent acquisitions bolstered revenue. More >>

FIRST CUT: Air NZ delivers bumper pre-tax profit for 2016

Friday, 26 August 2016, 9:31 am | BusinessDesk

FIRST CUT: Air NZ delivers bumper pre-tax profit for 2016 FY of $663 mln More >>

FIRST CUT: Sky TV FY earnings down 15%

Friday, 26 August 2016, 9:30 am | BusinessDesk

FIRST CUT: Sky TV FY earnings down 15%, citing merger costs and content 'arms race' More >>

Living Cell Technologies considers 'medical tourism'

Friday, 26 August 2016, 9:23 am | BusinessDesk

Aug. 26 (BusinessDesk) - Australasian biotech company Living Cell Technologies plans to treat patients for Parkinson’s disease under a “medical tourism” model if its clinical trial under way in Auckland succeeds next year. More >>

NZ dollar slips as markets await Yellen

Friday, 26 August 2016, 9:16 am | BusinessDesk

Aug. 26 (BusinessDesk) - The New Zealand dollar fell as financial markets await a speech from Federal Reserve chair Janet Yellen tonight that may give a clearer view of US monetary policy and therefore the direction of the US dollar. More >>

While you were sleeping: More hawkish talk

Friday, 26 August 2016, 6:59 am | BusinessDesk

Aug. 26 (BusinessDesk) - Wall Street moved lower as two more Federal Reserve officials signalled they believe the central bank should raise interest rates a day before a widely-anticipated speech by Fed Chair Janet Yellen in Jackson Hole, Wyoming. More >>

NZ dollar gains as Fonterra hikes forecast farmgate payout

Thursday, 25 August 2016, 5:23 pm | BusinessDesk

Aug. 25 (BusinessDesk) - The New Zealand dollar gained after Fonterra Cooperative Group hiked its forecast payout to farmers for the current season as recent dairy auctions delivered bigger-than-expected price increases. More >>

2016 Hawke’s Bay Tourism Industry Award Shortlist Announced

Thursday, 25 August 2016, 5:19 pm | Hawke's Bay Tourism

Media Release 25th September 2015 2016 Hawke’s Bay Tourism Industry Award Shortlist Announced Tourism businesses in Hawke’s Bay have put their best foot forward for the 2016 Hawke’s Bay Tourism Industry awards, with 20 businesses vying for the ... More >>

Vinyl Bar employees have sexual violence prevention training

Thursday, 25 August 2016, 5:04 pm | Sexual Abuse Prevention Network

Vinyl Bar employees undergo sexual violence prevention training,following criticism from patrons of handling of a sexual assault More >>

Local companies to partner Boeing in Orion upgrade

Thursday, 25 August 2016, 5:03 pm | New Zealand Defence Industry Association

New Zealand defence industry suppliers will support international contractor Boeing to upgrade systems on the Royal New Zealand Air Force’s six Orion aircraft. Beca, Marops and Safe Air will support the upgraded Underwater, Intelligence, Surveillance ... More >>

Cloud consultant Sasan Rashidmardani joins Equinox IT

Thursday, 25 August 2016, 4:07 pm | Equinox IT

Sasan Rashidmardani, an experienced cloud architecture consultant, has joined Equinox IT in Auckland. Rashidmardani takes up the role of Senior Consultant – Cloud Solution Architecture, where he will help Equinox IT clients successfully design, adopt and ... More >>

Business confidence defies usual winter blues

Thursday, 25 August 2016, 3:59 pm | Auckland Chamber of Commerce

Auckland Chamber’s August Business Confidence Survey has confirmed that the availability, or rather lack of availability, of people with the right skills and the right talent is affecting our ability to make the most of good economic times. More >>

Metlifecare stake not a long-term hold for Infratil

Thursday, 25 August 2016, 3:54 pm | BusinessDesk

Aug. 25 (BusinessDesk) - Infratil chief executive Marko Bogoievski is happy with the 80 percent gain the value of the infrastructure investor's stake in retirement village operator Metlifecare, but doesn't expect the minority interest will be a ... More >>

Bobby calf improvements noted this season

Thursday, 25 August 2016, 3:45 pm | Ministry For Primary Industries

The calving season for dairy farmers is now in full swing and improvements in calf welfare have been noted across the bobby calf supply chain. More >>

CityLife Auckland Receptionist Judged NZ’s Best

Thursday, 25 August 2016, 3:42 pm | CityLife Auckland

MS PRIYANKA (Payal) SHARMA of CityLife Auckland has been awarded the AICR New Zealand 2016 Receptionist of the Year. More >>

Please Stop the Politicking And Fix Shop Trading Hours Mess

Thursday, 25 August 2016, 3:40 pm | Retail NZ

As the Shop Trading Hours Amendment Bill is being debated in Parliament, Retail NZ has urged our MPs to put their politics aside and fix the current set of broken rules. More >>

Airways New Zealand appoints new Chief Technology Officer

Thursday, 25 August 2016, 3:36 pm | Airways New Zealand

Airways New Zealand is pleased to announce the appointment of Russell Ambrose as Chief Technology Officer, a new role for New Zealand’s air navigation service provider (ANSP). “As a technology enabled business, Airways is dedicated to providing safe, ... More >>

Chris Gallaher Elected New Chairman for Pacific Edge Board

Thursday, 25 August 2016, 3:33 pm | Pacific Edge

The Board of cancer diagnostics company, Pacific Edge Limited (NZX: PEB) has announced the election of Mr Chris Gallaher as Chairman, replacing Mr Chris Swann who, as previously advised, is stepping down from the Board at today’s Annual Shareholders’ Meeting. More >>

Wool Market Basically Unchanged

Thursday, 25 August 2016, 3:02 pm | NZWSI Weekly Wool Market Report

New Zealand Wool Services International Ltd’s C.E.O Mr John Dawson reports that the South Island selection comprising a wide range of wool types with Merino, Mid Micron and Crossbreds saw varied support determined by targeted buying with an all ... More >>

Crown alleges Ngatata Love set up $3M in secret payments

Thursday, 25 August 2016, 2:37 pm | BusinessDesk

Crown alleges Ngatata Love set up $3M in secret payments to buy house for himself and partner More >>

5 stars for yet to be released Holden

Thursday, 25 August 2016, 1:54 pm | New Zealand Automobile Association

Holden will release the 2017 Trailblazer SUV later this year which will carry the same 5 star ANCAP safety rating of the 2012 Colorado 7 – the vehicle it is based on. More >>

New Zealand Police win diversity award

Thursday, 25 August 2016, 1:53 pm | Diversityworks

The New Zealand Police’s initiatives to transform gender diversity within its ranks have resulted in the organisation taking the top prize at this year’s Diversity Awards NZ. More >>


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