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Latest Business Headlines

Solid Energy annual losses mount with another $110.6 mln in

Friday, 31 October 2014, 6:09 pm | BusinessDesk

Oct. 31 (BusinessDesk) - Solid Energy posted its third annual loss in a row as the financially distressed state-owned coal miner wrote down the value of its export operations amid lower coal price assumptions, and warned of more red ink to come. More >>

Update: China lifts temporary ban on Fonterra whey products

Friday, 31 October 2014, 6:06 pm | BusinessDesk

Oct. 31 (BusinessDesk) - Chinese authorities have lifted a temporary ban on the importation of Fonterra Cooperative Group's whey powder and dairy base powder used in the manufacture of infant formula that has been in place since August last year in the wake of the ... More >>

MARKET CLOSE: NZX 50 rises to a record; led by Ebos

Friday, 31 October 2014, 5:52 pm | BusinessDesk

Oct. 31 (BusinessDesk) - New Zealand shares rose to a record led by Ebos Group amid optimist about its prospects in Australia as it signalled a 10 percent boost to first quarter trading. Steel & Tube and Fletcher Building were boosted by rising building ... More >>

China lifts ban on Fonterra whey powders

Friday, 31 October 2014, 5:25 pm | BusinessDesk

Oct. 31 (BusinessDesk) - Chinese authorities have lifted a temporary ban on the importation of Fonterra Cooperative Group's whey powder and dairy base powder used in the manufacture of infant formula that has been in place since August last year in the wake of the ... More >>

NZ dollar heads for 0.5% gain in October

Friday, 31 October 2014, 5:09 pm | BusinessDesk

Oct. 31 (BusinessDesk) - The New Zealand dollar is heading for a 0.5 percent monthly gain as traders question the sharp appreciation in the greenback since the end of June after an optimistic outlook from the Federal Reserve. More >>

Hair Loss De-Mystified With Clive Hair Clinics

Friday, 31 October 2014, 4:52 pm | Clive Hair Clinics

There are a great number of myths and misconceptions about hair loss in men and women and the most common hair problems, representing over 75% of enquiries at Clive Hair Clinics are Genetic Thinning, Diffuse Loss and Alopecia. More >>

Xero 3Q cash burn slows as customer receipts rise 19%

Friday, 31 October 2014, 4:44 pm | BusinessDesk

Oct. 31 (BusinessDesk) - Xero, the cloud-based accounting firm, slowed its quarterly cash burn in the September quarter from the June period as customer receipts accelerated faster than staff costs. More >>

Heartland affirms FY guidance

Friday, 31 October 2014, 4:39 pm | BusinessDesk

Oct. 31 (BusinessDesk) - Heartland New Zealand, the bank formed through the merger of Canterbury and Southern Cross building societies with Marac Finance, affirmed its earnings guidance for the 2015 financial year, and sees annual consumer lending ... More >>

Daifuku investment in BCS accelerates global growth

Friday, 31 October 2014, 4:36 pm | Joint Press Release

Japan's Daifuku Co., Ltd. is to take a majority stake in one of New Zealand's fastest-growing companies, New Zealand-headquartered BCS Group; in a move described by BCS CEO Patrick Teo as opening doors for the company's plans for faster global expansion and access ... More >>

Palmers to open popular Planet store in Westgate centre

Friday, 31 October 2014, 4:31 pm | Palmers

This summer, those living near the expansive new Westgate shopping precinct in West Auckland will join the residents of Albany and Hamilton in being able to enjoy the wonder, convenience and practicality of a Palmers Planet store. More >>

Mazda delivers miles to RSA milestone

Friday, 31 October 2014, 4:26 pm | Mazda NZ

Mazda New Zealand has shown support for the Royal New Zealand Returned & Services Association (RNZRSA) by providing them with a new Mazda6 wagon and sedan. The new vehicles will be used to assist with the many events taking place around the country ... More >>

Settlement of Earthquake Claims Tops $13 Billion

Friday, 31 October 2014, 4:21 pm | Insurance Council of New Zealand

The settling of Canterbury earthquake private insurance claims continues apace as pay outs hit the $13 billion mark, advancing at $10 million a day in 2014. More >>

TVNZ Outsourcing

Friday, 31 October 2014, 4:07 pm | PIFT

In regards to the outsourcing of Maori and Pacific programming at TVNZ. Reference TVNZ release Thursday 23rd October. More >>

EBOS Announces Acquisition of Blackhawk Premium Pet Care

Friday, 31 October 2014, 3:52 pm | EBOS Group

EBOS Group Limited is pleased to announce that it has acquired BlackHawk Premium Pet Care Pty Ltd (“BlackHawk”) for NZ$57.8 million as part of the company’s expansion into the fast-growing premium pet food sector. More >>

Forestry industry must act as one to end shameful trends

Friday, 31 October 2014, 3:40 pm | Business Leaders' Health and Safety Forum

“The forestry industry must commit to implementing an action plan for reducing the industry’s shamefully high injury rate – which means forestry workers are 15 times more likely to die on the job,” the Business Leaders’ Health and Safety ... More >>

Air NZ, PT Garuda Indonesia win Australian cartel case

Friday, 31 October 2014, 3:19 pm | BusinessDesk

Oct. 31 (BusinessDesk) - Air New Zealand and PT Garuda Indonesia have won their bid to dismiss action against them in Australia, claiming the airlines were part of a global cartel to fix prices in international air freight services. More >>

Ebos 1Q trading up 10%, new CEO Davies says

Friday, 31 October 2014, 2:56 pm | BusinessDesk

Oct. 31 (BusinessDesk) - Ebos Group, the healthcare and animal care products company, is tracking ahead of last year in the first three months of trading, as it beds in a much bigger focus in Australia after its 2013 acquisition of pharmaceutical firm ... More >>

Bill’s passage positive for trans-Tasman Accountants

Friday, 31 October 2014, 2:23 pm | Chartered Accountants Australia and New Zealand

The Accounting Infrastructure Reform Bill (AIRB) passed its third reading today paving the way for Chartered Accountants Australia and New Zealand to officially amalgamate. Lee White FCA, CEO Chartered Accountants Australia and New Zealand welcomed the Bill’s ... More >>

Food price index delay

Friday, 31 October 2014, 2:16 pm | Statistics New Zealand

Statistics New Zealand is delaying the release of the Food Price Index: November 2014 due to industrial action among Public Service Association members. More >>

New Accounting and Audit Law Set to Benefit Business

Friday, 31 October 2014, 1:54 pm | CPA Australia

Global accounting body CPA Australia says changes to financial markets and reporting laws, which passed their third reading in Parliament today, will benefit New Zealand businesses by enhancing competition and delivering greater efficiencies in the accounting ... More >>

Air New Zealand welcomes air freight decision

Friday, 31 October 2014, 1:32 pm | Air New Zealand Public Affairs

The Australian Federal Court today delivered its decision in relation to the long running airfreight case brought by the ACCC in 2010, alleging agreements with airline competitors in Hong Kong and Singapore between 2000 and 2006. More >>

Five Nuffield Farming Scholars named for 2014

Friday, 31 October 2014, 1:31 pm | Federated Farmers

A diverse group of rural New Zealanders has been chosen as the latest crop of Nuffield Scholars. Nuffield New Zealand and Primary Industries Minister Nathan Guy have announced the scholarships at a function in Wellington for West Coast dairy farmer Bede O’Connor; ... More >>

Resn joins the FWA Hall of Fame

Friday, 31 October 2014, 1:23 pm | Resn

It's a pretty big deal. More >>

Drake, BOSS Group to Bring Growth to Hawke’s Bay & Wairarapa

Friday, 31 October 2014, 1:20 pm | Drake

Drake New Zealand, the recruitment and talent management solutions company, announced that it has acquired Napier and Masterton-based BOSS Group. “There is so much synergy between BOSS Group’s mission to provide a consultancy service for recruitment as ... More >>

Wellington’s Gibson Group brings soldiers to life

Friday, 31 October 2014, 1:19 pm | The Gibson Group

A Wellington multi-disciplinary media design company, Gibson Group, is using cutting edge audio-visual technology to bring Anzac stories to life at the new National Anzac Centre in Albany, Western Australia. More >>

Westland Milk proposes new investment share for farmers

Friday, 31 October 2014, 1:08 pm | BusinessDesk

Oct. 31 (BusinessDesk) - Westland Milk Products, New Zealand’s second biggest dairy cooperative, is proposing a new capital structure that would see its shareholder farmers issued with investment shares annually on top of the existing milk share. More >>

Survey shows improved Inland Revenue service delivery

Friday, 31 October 2014, 12:57 pm | Chartered Accountants Australia and New Zealand

Satisfaction with Inland Revenue’s overall service has increased since last year according to an annual survey of Chartered Accountants. More >>

Dwelling consents down in September

Friday, 31 October 2014, 12:46 pm | Statistics New Zealand

Nearly 2,000 new dwellings were consented last month, but there are signs the trend is decreasing, Statistics New Zealand said today. More >>

Young Tourism Leader award – three high flying finalists

Friday, 31 October 2014, 12:42 pm | Tourism Industry Association

Three contenders have fought off tough competition to be named finalists in the 2014 PATA New Zealand Trust Young Tourism Leader Award. More >>

Business Awards: West winner demonstrates innovation

Friday, 31 October 2014, 12:26 pm | Auckland Chamber of Commerce

Last night A-Ward Attachments Limited captured the Supreme Business Excellence Award at the Westpac Auckland Business Awards 2014 – West. Experts in shipping ideas offshore as customised container solutions, A-Ward Attachments has customers as far ... More >>

Ebos buys Australian BlackHawk pet food business for $57.8M

Friday, 31 October 2014, 12:18 pm | BusinessDesk

Oct. 31 (BusinessDesk) - Ebos Group, the healthcare and animal care products company, has bought Australia's BlackHawk Premium Pet Care pet food business for $57.8 million, which it expects will immediately add to earnings. More >>

NZ new building permits drop in Sept on election uncertainty

Friday, 31 October 2014, 12:10 pm | BusinessDesk

Oct. 31 (BusinessDesk) - New Zealand building consents fell at the fastest monthly pace in more than two years in September amid uncertainty around that month's general election. More >>

DNZ Property refinances $400 mln banking facility

Friday, 31 October 2014, 11:38 am | BusinessDesk

Oct. 31 (BusinessDesk) - DNZ Property Fund, the listed property investor, has refinanced its $400 million banking facilities, extending the expiry date on its loan. More >>

BRANZ appoints two independent Directors to the Board

Friday, 31 October 2014, 11:34 am | Branz

BRANZ Chair, Dr Helen Anderson announced today the appointment of Lesley Haines and Stephen Titter to the BRANZ Group Board of Directors. They are the first independent Board members to be appointed alongside five other construction industry nominated ... More >>

Judge clarifies areas of responsibility in big projects

Friday, 31 October 2014, 11:33 am | Duncan Cotterill

A recent case has set an important precedent for the engineering industry and those involved in development and subdivision projects. More >>

Unions will pick up the Forest Safety challenge

Friday, 31 October 2014, 11:28 am | First Union

“The report of the Independent Forest Safety Review Panel is a wake-up call for all stakeholders in the forest industry, including unions,” said Robert Reid, General Secretary of FIRST Union. More >>

Wood sector union welcomes Forest Safety report

Friday, 31 October 2014, 11:27 am | First Union

The wood sector union has welcomed the Final Report of the Independent Forestry Safety Review, released in Rotorua today. “The review panel is absolutely right to say that there is no silver bullet and a comprehensive series of actions needs ... More >>

Reducing injuries and fatalities on our forest blocks

Friday, 31 October 2014, 11:25 am | Independent Forestry Safety Review

“The Independent Forestry Safety Review has recommended a three-year action plan to drive improvements in the forestry sector. The action plan will leverage the commitments to a new safety culture and a better safety record made by the forestry sector during ... More >>

Forest industry endorses safety report

Friday, 31 October 2014, 11:23 am | NZ Forest Owners Association


Nespresso Celebrates Opening of First South Island Boutique

Friday, 31 October 2014, 11:17 am | Nespresso

Canterbury coffee connoisseurs will be delighted this week as Nespresso - the worldwide pioneer in premium portioned coffee, opens the doors to the country’s third boutique - located within the iconic Ballantynes department store. More >>

‘Real life’ scenarios focus of Ruataniwha meeting

Friday, 31 October 2014, 11:07 am | Irrigation NZ

IrrigationNZ says ‘real life’ scenarios presented by farmers with experience of irrigation is the focus of Tuesday’s ‘It’s Now or Never’ Ruataniwha meeting, rather than theoretical economic models. More >>

Five Nuffield Farming Scholars named for 2014

Friday, 31 October 2014, 11:01 am | Nuffield Farm Scholarships

A diverse group of rural New Zealanders has been chosen as the latest crop of Nuffield Scholars. More >>

World’s first NZ Inc. farm in the high tropics

Friday, 31 October 2014, 10:56 am | Dairy SolutioNZ

Waikato farm development organisation Dairy Solutionz (NZ) Ltd. will open the first ever New Zealand-technology demonstration dairy farm in the high tropics – 2800m above sea level – next month. More >>

3D Printing – Wellington Innovation

Friday, 31 October 2014, 10:52 am | fre3formD

Gordon Dykes, one of New Zealand’s leading Fused Filament Fabrication 3D printer experts recently exhibited at the highly successful 3D printing lecture series at Hutt City Libraries. More >>

Sudima Hotels Finalist in Westpac Auckland Business Awards

Friday, 31 October 2014, 10:51 am | Sudima Hotel Group

The five-property Australasian accommodation business Sudima Hotel Group has outdone itself. Sudima Auckland Airport was named a finalist in the Employer of Choice category in the 2013 Westpac Auckland Business Awards – South, and the company is now vying ... More >>

Tararua Wind Farm - world record turbine output

Friday, 31 October 2014, 10:51 am | TrustPower

Two of the thirty one Vestas V90 wind turbines operating at Trustpower’s Tararua wind farm have set a world record for their total output, producing 100,000,000 KWh of electricity. These turbines are less than halfway through their design life. More >>

NZ Consumer Confidence: Slow, Steady Progress Continues

Friday, 31 October 2014, 10:49 am | Nielsen NZ

AUCKLAND: 30 October 2014 – New Zealand consumer confidence edged up three index points in the third quarter to a score of 102. The increase of three points from the previous quarter and five points from a year ago (Q3 2013) shows slow and steady ... More >>

Hotelier picks up ‘Excellence in Business Leadership’ Gong

Friday, 31 October 2014, 10:49 am | Sudima Hotel Group

The five-property Australasian accommodation business Sudima Hotel Group has cause to celebrate, again – this time, adding ‘winner’ to its list of accolades, at Thursday 9 October’s Westpac Auckland Business Awards – South final event. More >>

OceanaGold Q3 profit falls on lower gold price; shares drop

Friday, 31 October 2014, 10:49 am | BusinessDesk

Oct. 31 (BusinessDesk) - Oceana Gold, which operates the Macraes goldfield in Otago, reported a 61 percent drop in third quarter profit as a lift in production in its Philippines operations was offset by declining gold prices. The company's shares ... More >>

ANZ New Zealand boosts FY profit 17% on home loan growth

Friday, 31 October 2014, 10:48 am | BusinessDesk

Oct. 31 (BusinessDesk) - ANZ New Zealand boosted annual earnings 17 percent as the local unit of Australia & New Zealand Banking Group benefited from home loan lending growth and bedded down savings from the integration of the National Bank ... More >>

Closing looms for Dairy Woman of the Year nominations

Friday, 31 October 2014, 10:45 am | Dairy Women's Network

There are just two weeks left to nominate someone for New Zealand’s biggest industry award for women in dairying. The Dairy Women’s Network’s Dairy Woman of the Year Awards close on 15 November 2014. More >>

Air Force Welcomes Delivery of Last NH90 Helicopter

Friday, 31 October 2014, 10:38 am | New Zealand Defence Force

The Royal New Zealand Air Force (RNZAF) has welcomed the delivery of its last NH90 helicopter at Base Ohakea. The arrival brings the total number of NH90 helicopters in the fleet to eight. More >>

Rare Fiordland penguins delight first walkers of the season

Friday, 31 October 2014, 10:35 am | Hollyford Track Guided Walks

Hollyford Track Guided Walks, owned and operated by Ngāi Tahu Tourism, has opened for the summer season and early walkers on the track have been rewarded with regular sightings of the rare Fiordland Crested Penguin. More >>

Quest on Ward takes top spot at Quest annual awards

Friday, 31 October 2014, 10:34 am | Quest Serviced Apartment Group

The franchise director of Quest on Ward in Hamilton has been named South Pacific Quest Franchise of the Year at the company’s annual awards recently. The awards recognise and celebrate the franchise directors who have demonstrated an outstanding ... More >>

Credit Union Association’s High Court victory

Friday, 31 October 2014, 10:25 am | NZ Association of Credit Unions

New Zealand Association of Credit Unions (NZACU) High Court victory to change its name to 'Co-op Money NZ' is a win for all co-operatives. The Co-operative Bank filed for a temporary injunction against the NZACU in June after NZACU announced it intended ... More >>

Focused ANZ New Zealand lifts performance

Friday, 31 October 2014, 10:22 am | ANZ Bank

Continued benefits from its brand and systems merger and improvements in the economy have underpinned a strong financial performance for ANZ New Zealand, the bank said in announcing its 2014 full year results today. More >>

Map: where property values have fallen and risen since 2007

Friday, 31 October 2014, 10:21 am | Data Insight

“The holding of the OCR will continue to fuel the housing market. Dropped talk of future rate hikes will also fuel the property market, particularly in Auckland where we are seeing significant pockets of soaring house prices. More >>

Britz helps New Zealand 9 break world record

Friday, 31 October 2014, 10:10 am | Britz Campervans

Britz are delighted to be supporting Ben Southall, Luke Edwards and Patrick Kinsella to break a world record by running the equivalent of 9 and a half marathons and 145kms of kayaking in 9 days. More >>

Contact changes rate for electricity generation customers

Friday, 31 October 2014, 10:08 am | Contact Energy

From 1 November 2014, Contact is changing the rate paid to all new distributed generation customers for excess electricity they generate and sell back to the electricity grid to 8c/kWh excluding GST. More >>

Living in a Media Bubble: Agency Life in NZ

Friday, 31 October 2014, 10:05 am | Nielsen Holdings NV

Advertising agencies have their finger on the pulse of hottest fashion trends and latest media technology. But are they in touch with the heartbeat of average New Zealanders? As agency folk, or ‘Adlanders’, are tasked with reaching and appealing ... More >>


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