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Latest Business Headlines

MARKET CLOSE: NZ shares rose on oil relief; Air NZ gains

Thursday, 18 December 2014, 5:32 pm | BusinessDesk

Dec. 18 (BusinessDesk) - New Zealand shares rose, led by OceanaGold Corp and Air New Zealand following a global rally as a rebound in oil prices and positive statements from the US Federal Reserve gave investors hope for the international economy. Arvida ... More >>

Three new directors announced for board of Wellington Water

Thursday, 18 December 2014, 5:24 pm | Wellington Water

Three new directors will join the Board of Wellington Water Ltd, the council-owned organisation that manages the region’s drinking water, wastewater and stormwater services. More >>

Finzsoft shareholder Rubik to consider takeover

Thursday, 18 December 2014, 5:14 pm | BusinessDesk

Dec. 18 (BusinessDesk) - Finzsoft Solutions shareholder Rubik Financial will consider a $3 per share takeover offer by the New Zealand software developer's chief executive Andrew Holliday and Singaporean tech firm Silverlake Axis, once it has more information. More >>

New Zealanders are inviting crime into their homes

Thursday, 18 December 2014, 5:12 pm | ADT Security

Research from ADT Security has found that complacent New Zealanders are not following basic steps to prevent burglary. More >>

NZ dollar dips as GDP growth revised down, Fed eyes rates

Thursday, 18 December 2014, 5:12 pm | BusinessDesk

Dec. 18 (BusinessDesk) - The New Zealand dollar dipped after the country's pace of economic growth was revised down, though continued to beat expectations, and as the Federal Reserve gets closer to making a call on whether to hike interest rates. More >>

Trustees need to be more aware of potential liabilities

Thursday, 18 December 2014, 4:54 pm | Crowe Horwath

It is important for potential trustees to weigh up the risks compared to the rewards when considering whether or not to accept a role on a trust, says Tony Marshall, Tax Advisory Principal for Crowe Horwarth’s Dunedin office. More >>

CAMMS strengthens operations in NZ with local presence

Thursday, 18 December 2014, 4:53 pm | CAMMS

Market leading CPM and BI solutions provider expands reach in New Zealand with familiar face. More >>

20 years of selling semen and nothing’s a problem

Thursday, 18 December 2014, 4:38 pm | CRV Ambreed

Te Aroha local, born and bred, Butch Coombe celebrates 20 years working with CRV Ambreed as a field consultant. More >>

Air NZ unveils Te Papa exhibition celebrating 75 years

Thursday, 18 December 2014, 4:14 pm | Air New Zealand

Air New Zealand unveils Te Papa exhibition celebrating 75 years of flying Air New Zealand will kick off its 75th anniversary celebrations with the launch of a special exhibition at the country’s national museum Te Papa in Wellington tonight. The ... More >>

Air New Zealand opens doors to new regional lounge

Thursday, 18 December 2014, 4:10 pm | Air New Zealand

Air New Zealand has today welcomed customers to the airline’s brand new regional lounge at Auckland Domestic Airport. More >>

FMA warns of UK pension scheme transfer scare-mongering

Thursday, 18 December 2014, 3:55 pm | BusinessDesk

Dec. 18 (BusinessDesk) - The Financial Markets Authority is warning against misleading advertising about transferring UK pension scheme entitlements to New Zealand to avoid incoming tax and legislation charges. More >>

Callaghan, NSC funding knocked in science plan submissions

Thursday, 18 December 2014, 3:35 pm | BusinessDesk

Dec. 18 (BusinessDesk) - Callaghan Innovation, which was last year allocated a budget of $566 million over four years to dish out research and development grants, and the National Science Challenges attracted criticism in submissions on the government's ... More >>

Crown Asset Management discontinues South Canterbury claim

Thursday, 18 December 2014, 3:34 pm | BusinessDesk

Dec. 18 (BusinessDesk) - Crown Asset Management, the government entity set up to wind down the remaining assets of finance companies that called on the retail deposit guarantee, has discontinued its civil claim against the former directors of South ... More >>

A new standard for labelling of export infant formula

Thursday, 18 December 2014, 2:47 pm | Ministry For Primary Industries

The Ministry for Primary Industries (MPI) has today issued a new standard to clarify the labelling requirements for exports of infant formula. More >>

Tourism Holdings lifts annual profit forecast to $17 million

Thursday, 18 December 2014, 2:42 pm | BusinessDesk

Dec. 18 (BusinessDesk) - Tourism Holdings, the biggest campervan rental company in Australia and New Zealand, has lifted its forecast for first-half and annual earnings for a second time on favourable trading conditions. More >>

Nikko Keeps Moderate Overweight Position on Global Equities

Thursday, 18 December 2014, 2:38 pm | SweeneyVesty

· Maintains global equities overweight on G3 economic growth and central bank policies · Lower oil prices very positive for developed economies · Fed could tighten in June or July, but at a moderate pace · Forecasts Japan’s TOPIX to reach 1,658 ... More >>

Mixed Market For Wool

Thursday, 18 December 2014, 2:35 pm | New Zealand Wool Services

New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel reports that the combined North and South Island auctions saw mixed fortunes with finer, stronger and better style wools faring the best. More >>

Make sure your Christmas money gift gets to the right person

Thursday, 18 December 2014, 2:34 pm | Banking Ombudsman

Be sure account numbers are correct if you gift money by transferring it directly into someone’s account this festive season otherwise the wrong person might think all their Christmases have come at once, says Banking Ombudsman Deborah Battell. More >>

All girls mountaineering course launched

Thursday, 18 December 2014, 2:18 pm | Queenstown Mountain Holidays

Queenstown’s only professional mountain guiding company, Queenstown Mountain Holidays, will run a seven day ladies-only mountaineering course next year aimed at building skills and knowledge. More >>

Stay safe on tradies day this Friday

Thursday, 18 December 2014, 2:14 pm | New Zealand Police

Canterbury Police urge business and bosses who are putting on ‘shout’s for their staff this Friday to plan ahead how everyone will get home safely. More >>

Chapman Tripp Advises Arvida on NZ’s Final IPO for 2014

Thursday, 18 December 2014, 2:10 pm | Chapman Tripp

Chapman Tripp has advised Arvida Group Limited ( Arvida ) on its $80m initial public offering ( IPO ) and listing today on the NZX Main Board. The company’s market capitalisation on the IPO price is $215m. More >>

Getting Lost Pets Home Even Quicker

Thursday, 18 December 2014, 2:05 pm | NZ Companion Animal Council

The New Zealand Companion Animal Council (NZCAC) announced today that it is funding the development of new software and applications to help the leading New Zealand Lost Pet networks to work together and be an even more effective tool in getting ... More >>

Pacific Edge’s half year report

Thursday, 18 December 2014, 1:56 pm | Pacific Edge

• Signed Cxbaldder agreement with Multiplan, a large National Provider Network (NPN) in the US. This is the fourth agreement to be signed with NPNs since October 2013. More >>

Cabchooze to launch taxi app with John Key’s son

Thursday, 18 December 2014, 1:48 pm | Cabchooze

A soft launch for Cabchooze’s taxi app is happening tonight with the help of local DJs, which include Max Key. More >>

Strong sales for sections in Central Otago technology park

Thursday, 18 December 2014, 1:35 pm | Harcourts

Cromwell will soon have a vibrant innovation and technology park with more than 20 of 42 available sections on the Highlands Motorsport Park site already sold. Harcourts is the exclusive agent for the project. More >>

Hotels trump home stays this Christmas

Thursday, 18 December 2014, 1:32 pm |

The Christmas Travel Tracker reveals eight in 10 Kiwis prefer domestic downtime over a trip abroad this Christmas More >>

Kiwis happy to snub family this silly season

Thursday, 18 December 2014, 1:32 pm |

16 December, 2014 : New research from has revealed nearly one in two (49%) Kiwis would happily give one of their family members a chance to star in their own Home Alone movie, by leaving them behind this Christmas. More >>

Spark's Lightbox, Coliseum in JV to gain foothold in market

Thursday, 18 December 2014, 1:31 pm | BusinessDesk

Dec. 18 (BusinessDesk) - Lightbox, Spark New Zealand's online content business, will broadcast premium sports via a joint venture with Coliseum Sports Media New Zealand as it looks to gain a foothold in the "crowded online TV marketplace". More >>

Kennards Celebrates Charity Success

Thursday, 18 December 2014, 1:27 pm | Kennards

Kennards Hire has wrapped up their annual charity initiative, ‘Kennards For Kids’ with an incredibly successful result. Over the course of the two month campaign Kennards Hire raised over $356,000 for various children’s charities around the country, ... More >>

KiwiCover: loss of family home pales against loss of earning

Thursday, 18 December 2014, 1:24 pm | KiwiCover Insurance

KiwiCover Insurance says that the financial loss caused by the destruction of a family home typically pales in comparison with the financial effects of the permanent loss of earnings of the home owner. More >>

Vero cements long-standing partnership with AMP

Thursday, 18 December 2014, 1:21 pm | Vero Insurance New Zealand

Vero Insurance, the underwriter for AMP branded general insurance products, today announced the renewal of their 13-year partnership for a further seven years. More >>

‘Made in Hawkes Bay’ Launches Online

Thursday, 18 December 2014, 1:04 pm | Made in Hawke's Bay

A brand new website featuring Hawke’s Bay products is generating interest throughout New Zealand. More >>

Finzsoft boss to make takeover bid with Silverlake Axis

Thursday, 18 December 2014, 12:58 pm | BusinessDesk

Dec. 18 (BusinessDesk) - Andrew Holliday, managing director of Finzsoft Solutions, intends to make a discounted takeover bid for the financial software developer in partnership with Silverlake Axis, the Bermuda-based IT company. More >>

All Black Dan Carter increased his shareholding in Arvida

Thursday, 18 December 2014, 12:31 pm | BusinessDesk

Dec. 18 (BusinessDesk) - All Black Dan Carter said he increased his shareholdings in the retirement village sector when supporting the initial public offer of Arvida Group which debuted on the NZX this morning. More >>

Connor Healthcare - second clearance Acurity application

Thursday, 18 December 2014, 12:08 pm | Commerce Commission

The Commerce Commission has received a second application from Connor Healthcare Limited seeking clearance to acquire all of the shares that it does not currently own in Acurity Health Group Limited. More >>

LIC takes majority stake in Brazilian JV partner

Thursday, 18 December 2014, 12:07 pm | BusinessDesk

Dec. 18 (BusinessDesk) - Livestock Improvement Corp, which provides testing and artificial breeding services to the dairy industry, has purchased a majority interest in its Brazilian genetics distributor, NZ Brasil Genetics Producao Animal for an undisclosed ... More >>

Misleading advertising promoting UK pension scheme transfers

Thursday, 18 December 2014, 11:54 am | Financial Markets Authority

The Financial Markets Authority (FMA) is warning people to be cautious of potentially misleading and deceptive advertising about transferring United Kingdom pension scheme entitlements to New Zealand. More >>

Powerhouse Ventures Appointment of Rick Christie as Director

Thursday, 18 December 2014, 11:48 am | Powerhouse Ventures Ltd

Powerhouse Ventures Limited (“Powerhouse”), developer of intellectual property-based businesses, announces that it has appointed Rick Christie to the Board as a Non-Executive Director, with effect from its Board Meeting last week. More >>

New cable a positive sign for the future

Thursday, 18 December 2014, 11:44 am | InternetNZ

InternetNZ welcomes the news today from Spark, Vodafone and Telstra that they are to build a new Internet cable to New Zealand. More >>

Verifone puts the ‘fast’ in fast food with Restaurant Brands

Thursday, 18 December 2014, 11:37 am | VeriFone

Verifone announced today the completed rollout of VX Evolution—its latest line of contactless and NFC enabled payment terminals supported by Verifone’s services platform—for Restaurant Brands New Zealand Limited (Restaurant Brands). More >>

Arvida completes $80 million IPO

Thursday, 18 December 2014, 11:25 am | Arvida Group

Shares of Arvida Group Limited (Arvida, the Company) today began trading on the NZX Main Board following a successful IPO that raised $80 million in new capital to underpin the growth of the new retirement and aged care group. More >>

NZ small businesses world-leading in cloud computing

Thursday, 18 December 2014, 11:23 am | Xero

New Zealand small businesses are adopting cloud accounting software faster than other countries, according to a recent study conducted by online accounting software provider Xero. More >>

Reserve Bank: Brighter Money Update

Thursday, 18 December 2014, 11:16 am | Reserve Bank

The Reserve Bank has today released a Bulletin article explaining how it chose the designs for the next series of New Zealand banknotes. The article takes readers through the design process, including the often intricate challenges of ensuring that the ... More >>

Extra Jetstar destination welcomed, says Chamber of Commerce

Thursday, 18 December 2014, 11:14 am | Wellington Employers' Chamber of Commerce

Wellington’s new air connection with Melbourne will provide a further welcome boost to the region’s economy, says Wellington Employers’ Chamber of Commerce President John Milford. More >>

Callaghan Innovation on Trends Publishing International Ltd

Thursday, 18 December 2014, 11:08 am | Callaghan Innovation

Callaghan Innovation has suspended a research and development (R&D) Growth Grant awarded to Trends Publishing International Ltd (Trends) following an audit of its funding claims. More >>

Spark, Voda and Telstra to lay new trans-Tasman cable

Thursday, 18 December 2014, 11:07 am | BusinessDesk

Dec. 18 (BusinessDesk) - Spark New Zealand and Vodafone, New Zealand's two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband ... More >>

Beat the skills gap with industry training

Thursday, 18 December 2014, 11:00 am | Industry Training Federation of New Zealand

We can beat the skills gap if we meet the future demand for skilled workers in areas such as aged care, says the Industry Training Federation. “This Christmas we’ll be thinking of growing number of older people who need support,” says Industry ... More >>

GDP up 1.0 percent

Thursday, 18 December 2014, 10:56 am | Statistics New Zealand

Gross domestic product (GDP) was up 1.0 percent in the September 2014 quarter, Statistics New Zealand said today. The growth was driven by primary industries, which increased 5.8 percent More >>

NZ economy grows 1% in 3Q on milk and mining production

Thursday, 18 December 2014, 10:52 am | BusinessDesk

Dec. 18 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a good start to the dairy season and increased oil and gas activity stoked activity. More >>

Rabobank Dairy Quarterly Q4: Dairy prices continue to fall

Thursday, 18 December 2014, 10:50 am | Rabobank

International dairy markets continue to suffer from low prices according to Rabobank’s latest Dairy Quarterly report, though the rate of decline in the price of dairy commodities has slowed compared to that seen in Q3 2014. Exceptional milk production growth in ... More >>

Shares of Arvida edge up 2 percent in debut on NZX

Thursday, 18 December 2014, 10:36 am | BusinessDesk

Dec. 18 (BusinessDesk) - Shares of Arvida Group, the new retirement village operator, rose 2 percent on its NZX debut after its initial public offer raised $80 million in capital which will be used to reduce debt. More >>

New trans-Tasman telecommunications cable plan confirmed

Thursday, 18 December 2014, 10:34 am | Spark NZ

The three telecommunications companies planning to build a new 2,300km submarine cable between New Zealand and Australia have today confirmed their investment and a commencement of the project in early 2015. More >>

Without the card it’s money down the drain

Thursday, 18 December 2014, 10:24 am | Plumbers Gasfitters and Drainlayers Board

Homeowners are being warned not to do sanitary plumbing, gasfitting and drainlaying work, or use unlicensed tradespeople over the summer break. More >>

New Zealand Seafood – the Kiwi Christmas Classic

Thursday, 18 December 2014, 10:20 am | Seafood New Zealand

Seafood New Zealand is encouraging New Zealanders to put our sustainable seafood on their tables this Christmas. More >>

Restaurant, bar and grocer to open in Lake Hayes Estate

Thursday, 18 December 2014, 10:11 am | Scope Media

Much-anticipated Queenstown restaurant Grazë is expected to turn heads with its unique, innovative food and drink offering when it opens its doors this weekend. Grazë – a stylish restaurant, boutique bar and separate grocer at Lake Hayes Estate ... More >>

Publisher defers comment on suspended Callaghan grant

Thursday, 18 December 2014, 9:54 am | BusinessDesk

Dec. 18 (BusinessDesk) - Trends Publishing International chairman David Johnson says he can’t comment on specific allegations following the suspension of a three-year research and development growth grant by Callaghan Innovation after an audit of its ... More >>

Goldstar Heat Pumps Expands in Tauranga

Thursday, 18 December 2014, 9:51 am | Duoplus

Tauranga is now being offered New Zealand’s favourite air as Goldstar Heat Pumps expands to their region. The number one distributor and installer of Fujitsu – New Zealand’s favourite air, has committed to help Tauranga residents cope with ... More >>

Fish4all - android smartphone app now available

Thursday, 18 December 2014, 9:51 am | Fish4all

Just in time for summer the Fish4all app is now available for android smartphones. Unveiled for iPhones earlier this year, the free app has been developed to gather data that can provide better information on where and how recreational fishing is ... More >>

UPDATE: NZ dollar tumbles after Yellen firms on rate rise

Thursday, 18 December 2014, 9:47 am | BusinessDesk

Dec. 18 (BusinessDesk) - The New Zealand dollar tumbled about 1 US cent after US Federal Reserve chair Janet Yellen indicated higher US interest rates are coming, and was more upbeat about the state of the world's biggest economy. More >>

Cashless consumers clock up record Christmas sales

Thursday, 18 December 2014, 9:46 am | Lassoo media

Savvy Kiwis traded more than $2 million in a seven hour Christmas shopping frenzy – but not a single cash dollar changed hands. The $5,000-a-minute, no-cash spending spree may sound like an impossibility, but that was the impressive result of the ... More >>


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