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Latest Business Headlines

Those with .nz domain names urged to act before deadline

Monday, 2 March 2015, 9:56 am | Domain Name Commission

There’s an important date coming up for thousands of people who hold .nz domain names. Those eligible to get the shorter .nz version of their name before anybody else only have until 1pm, 30 March 2015 to do so. More >>

Transformers Join Variety Trillian Bash

Monday, 2 March 2015, 9:45 am | Variety Club

Optimus Prime and Bumblebee have announced they will join the Variety Trillian Bash this year, untroubled by the evil Megatron who’s been called away on pressing business in another universe. More >>

Mexicali Fresh Owner Buys Burger Wisconsin

Monday, 2 March 2015, 9:39 am | Mariposa Restuarant Holdings

Mariposa Restaurant Holdings (MRH), owner of the popular Mexican food franchise Mexicali Fresh, has purchased New Zealand’s oldest gourmet burger franchise Burger Wisconsin for an undisclosed sum. More >>

VMob signs voucher deal with Australian 7-Eleven chain

Monday, 2 March 2015, 9:32 am | BusinessDesk

March 2 (BusinessDesk) - VMob, the NZAX-listed mobile voucher developer, has signed a deal to roll out its vouchers platform across Australia's 7-Eleven convenience stores, adding to the momentum built last month when it secured a global partnership ... More >>

Kiwi Travellers set to Benefit from Australian Dollar Parity

Monday, 2 March 2015, 9:14 am | House of Travel

A local travel expert is predicting a 7% increase in trans-Tasman trips if the Australian dollar continues its recent trend towards parity with the New Zealand dollar. More >>

Diligent lifts annual profit 43%, sales at top end of guidan

Monday, 2 March 2015, 9:06 am | BusinessDesk

March 2 (BusinessDesk) - Diligent Board Member Services, the governance software developer, has lifted annual profit 43 percent and reported sales at the top end of guidance as it continued to add new customers and announced plans to invest more ... More >>

NZ dollar gains after Chinese central bank cuts rates

Monday, 2 March 2015, 8:41 am | BusinessDesk

March 2 (BusinessDesk) - The New Zealand dollar advanced on expectations a reduction in interest rates in China may stimulate demand for New Zealand commodities in the country's largest trading partner. More >>

World Week Ahead: US jobs data, Yellen speaks

Monday, 2 March 2015, 8:28 am | BusinessDesk

March 2 (BusinessDesk) - The latest US jobs data will take centre stage this week as investors refocus on the state of the economy as they refine their bets on when the Federal Reserve will start to lift interest rates. More >>

TSB Bank writes off $53.9 mln Solid Energy debt

Friday, 27 February 2015, 5:58 pm | BusinessDesk

Feb. 27 (BusinessDesk) - TSB Bank, the Taranaki community-owned bank, has written off the remaining $53.9 million debt exposure it had to stricken state-owned coal miner Solid Energy as the prospects of getting repaid deteriorate. More >>

PGC posts 1H loss, writes down Perpetual receivable

Friday, 27 February 2015, 5:51 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Pyne Gould Corp, whose 2014 accounts are being looked into by the market regulator, reported a first-half loss as it was hit with foreign exchange adjustments and losses from its subsidiaries, and wrote down the value of what it ... More >>

MARKET CLOSE: NZX 50 rises to a record; Genesis, PFI gain

Friday, 27 February 2015, 5:37 pm | BusinessDesk

Feb. 27 (BusinessDesk) - New Zealand shares rose paced by Genesis Energy and Property For Industry, on good sentiment around the local economy and demand for dividend paying stocks. Xero fell as investors took the chance to crystallise profits from ... More >>

NZ dollar heads for 0.4% weekly gain; USD poised to rise

Friday, 27 February 2015, 5:14 pm | BusinessDesk

Feb. 27 (BusinessDesk) - The New Zealand dollar is heading for a 0.4 percent gain against the greenback this week, ahead of what might be an extended rally for the US currency as the prospects for the world's biggest economy remain strong. More >>

WikiNZ and our new Internet data portal

Friday, 27 February 2015, 5:12 pm | InternetNZ

This is a blog post that has appeared on InternetNZ's website at: . More >>

Fonterra's Glencoal says Waikato mine delayed, not on hold

Friday, 27 February 2015, 4:58 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Fonterra Cooperative Group subsidiary Glencoal has denied suggestions it has put its plans for an open cast mine in the Waikato on hold indefinitely following public opposition. More >>

Electricity Lines Tariff Reduction Announced

Friday, 27 February 2015, 4:55 pm | Wellington Electricity Lines Limited

Wellington Electricity Lines Limited, the electricity lines company for the Wellington region, has today confirmed a reduction in their line charges that will take effect from 1 April 2015. More >>

Dunedin City Holdings Limited Half Year Result

Friday, 27 February 2015, 4:22 pm | Dunedin City Holdings

Dunedin (Friday, 27 February 2015) – The Dunedin City Holdings group is reporting an improved profit after tax and higher operating cashflows in its half year result, compared to the same period last year. More >>

Virgin Australia's Award-Winning Business Class in NZ Skies

Friday, 27 February 2015, 3:18 pm | Virgin Australia

Virgin Australia's award-winning Business Class will begin flying across the Tasman tomorrow, as part of a progressive rollout in the New Zealand and Pacific Island markets. More >>

Solid Energy delays 1H report on weaker coal price forecast

Friday, 27 February 2015, 2:58 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Solid Energy, the state-owned coal miner whose chair Pip Dunphy stepped down this week, will delay reporting its first-half accounts, saying forward pricing for coal may impact on its ability to meet debt repayments when they ... More >>

Dairy Awards Judges Find Opportunities for Ambitious

Friday, 27 February 2015, 2:51 pm | NZ Dairy Industry Awards

The 2015 New Zealand Dairy Industry Awards is in full swing, with judging underway and the first regional winners due to be announced next week. More >>

Solid Energy half-year accounts deferred

Friday, 27 February 2015, 2:47 pm | Solid Energy NZ

Solid Energy will defer presenting its half-year accounts until the Board of Directors is confident the accounts reflect a true and fair picture of the company’s position, says acting Chair Andy Coupe. More >>

Fisher & Paykel Innovations Receive Top Award

Friday, 27 February 2015, 2:43 pm | Fisher And Paykel

Auckland, NZ – 27 February, 2015: Fisher & Paykel, New Zealand’s award winning appliance brand, has received further international recognition for its innovation in design adding another two iF Design Awards to its list of successes. More >>

Famed Winemaker Comes Home to New Zealand

Friday, 27 February 2015, 2:37 pm | Mahana Winery

Nelson, New Zealand, February 25, 2015-Woollaston at Mahana Winery is delighted that Michael Glover, currently winemaker at the celebrated Australian winery Bannockburn, will lead the winemaking team at Woollaston’s Mahana Winery in Nelson/Tasman. More >>

Home loans helping people achieve their dreams

Friday, 27 February 2015, 2:21 pm | Media PA

TO SAVE time and money and to help achieve dreams are some of the goals New Zealand Home Loans Franklin District’s office has in mind for each one of the clients they deal with. More >>

Research must challenge our presumptions about road lighting

Friday, 27 February 2015, 2:12 pm | Strategic Lighting Partners Ltd

It’s time to challenge our presumptions about road lighting and road safety says an American road safety transport official who is visiting New Zealand in March. “Lighting is presumed to improve road safety performance and so we’ve stopped ... More >>

New Zealand travel insurer joins growing comparison

Friday, 27 February 2015, 2:09 pm | Compare Travel Insurance

2015 is off to a flying start for New Zealand’s leading travel insurance with new insurer NZ-travel-insurance being the latest insurer to be added to its panel. More >>

Vista Group exceeds PFI for 2014 year

Friday, 27 February 2015, 1:38 pm | Vista Group

Revenue $2.0m ahead of PFI • Profit attributable to shareholders at $4.0m, up 17% on PFI of $3.4m • 1,103 new cinema sites installed by Vista Entertainment • Significant growth in China with successful DADI cinema rollout • Integration of Movio and ... More >>

Bathurst sinks into the red in 1H, waiting for coal price

Friday, 27 February 2015, 1:33 pm | BusinessDesk

Bathurst sinks into the red in first-half, still waiting for coal price to turn around More >>

NZ business confidence gains in Feb as ag sector gets happy

Friday, 27 February 2015, 1:31 pm | BusinessDesk

Feb. 27 (BusinessDesk) - New Zealand business confidence improved in February as recent gains in dairy prices turned sentiment around in the agriculture sector, and as low interest rates stoke hiring and investment expectations. More >>

Microsoft invites partners to enter the Dragon’s Den

Friday, 27 February 2015, 1:26 pm | Microsoft New Zealand

Bonus round for 2015 Microsoft NZ Partner Awards offers prizes for perfect pitches AUCKLAND, 27 February 2015 – Microsoft New Zealand is inviting all partners that sell to SMB customers to put their pitch skills to the test in a Dragon’s Den style ... More >>

Countdown boosts 1H earnings 2.9% on cost cuts, volume gains

Friday, 27 February 2015, 1:24 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Countdown, the New Zealand supermarket chain owned by Australian retailer Woolworths, increased first-half earnings 2.9 percent as it cut costs and boosted volumes to compensate for lower prices. More >>

Investing in your success

Friday, 27 February 2015, 1:06 pm | Hays

It seems Kiwi’s are more willing to bet on themselves than our Australian neighbours, with a new survey by recruiting experts Hays showing that 68 per cent of New Zealanders would take a base salary cut for the opportunity to potentially earn more through ... More >>

Don’t be sucked in by Chinese property listing campaign

Friday, 27 February 2015, 12:35 pm | Century 21 Real Estate

Century 21 New Zealand’s national manager, Geoff Barnett, believes a new Chinese property listing website is using misleading and incorrect marketing to suggest they are the only site servicing the Chinese market in New Zealand. More >>

Auckland to get hands-on with the latest tech at Spark Lab

Friday, 27 February 2015, 11:56 am | Spark

Creative Auckland will have the chance to get up close with the latest innovations and innovators next month, as Spark Lab launches Tech Month. More >>

UPDATE: US wine-drinkers trading up, Delegat says

Friday, 27 February 2015, 11:46 am | BusinessDesk

Feb. 27 (BusinessDesk) - Consumers trading up to premium wine and an improved economy is behind a 19 percent boost in North American sales to 425,000 cases for New Zealand’s largest listed wine company, Delegat Group. More >>

Marsden Maritime posts 5.7% gain in 1H profit

Friday, 27 February 2015, 11:40 am | BusinessDesk

Marsden Maritime posts 5.7% gain in 1H profit, expects FY earnings in line with last year More >>

Precinct raises $73.6 million from instos in capital raising

Friday, 27 February 2015, 11:37 am | BusinessDesk

Feb. 27 (BusinessDesk) - Precinct Properties New Zealand, the property investor rebalancing its portfolio to Auckland, has raised $73.6 million from institutional investors ahead of its retail offer to fund a major development in the country's largest city. More >>

Net neutrality a little bit more neutral

Friday, 27 February 2015, 11:30 am | Internet NZ

InternetNZ is pleased to see the battle about net neutrality take a new turn with the FCC’s ruling that Internet Service Providers are ‘common carriage services’ – meaning that companies that provide the Internet cannot discriminate between ... More >>

NZ building consents fall for a second month in January

Friday, 27 February 2015, 11:22 am | BusinessDesk

Feb. 27 (BusinessDesk) - New Zealand residential building consents declined for a second month in January, with new housing permits falling at their sharpest pace since August. More >>

Building performance in spotlight at Green Property Summit

Friday, 27 February 2015, 11:17 am | Property Council Of New Zealand

The real-world performance of ‘green’ development will be under the microscope at next month’s Green Property Summit (March 26, Auckland). More >>

NZ CEOs confidence dips 16% about global economy for 2015

Friday, 27 February 2015, 11:06 am | PricewaterhouseCoopers

Findings from PwC’s New Zealand insights publication, released today, which follows the 18th Annual Global CEO Survey, show New Zealand CEOs are less positive about the outlook for the global economy than they were last year with 47 per cent believing ... More >>

Transpower hikes 1H dividend, warns of regulatory threat

Friday, 27 February 2015, 10:54 am | BusinessDesk

Feb. 27 (BusinessDesk) - Transpower, the state-owned operator of the national electricity grid, hiked its first-half dividend to the government as revenue gained on the completion of its major upgrade, but is warning earnings and future payouts could be hit by ... More >>

Allied Farmers posts 1H profit, warns on 2H dairy sales

Friday, 27 February 2015, 10:53 am | BusinessDesk

Feb. 27 (BusinessDesk) - Allied Farmers, which is rebuilding after taking over the failed Hanover and United Finance loan books, turned to a profit in the first-half as its livestock division exceeded expectations but flagged second half sales may ... More >>

Dwelling consents up in January

Friday, 27 February 2015, 10:52 am | Statistics New Zealand

The number of new dwellings consented was 3.6 percent higher in January 2015, compared with January 2014, Statistics New Zealand said today. Excluding apartments, this number was 6.8 percent lower. More >>

Agricultural Production Statistics supplementary tables

Friday, 27 February 2015, 10:50 am | Statistics New Zealand

The statistics in this release supplement those in Agricultural Production Statistics: June 2014 (provisional). The additional statistics include: the area of wine grapes grown; the harvested area of peas and potatoes; and the tonnage and area harvested ... More >>

Spark gives mobile plans an upgrade

Friday, 27 February 2015, 10:45 am | Spark NZ

Spark continues to reinvent what is expected from a mobile provider with an announcement today that it is packing a whole lot more value into its pay-monthly mobile plans. The new plan line-up includes substantially bigger mobile data allowances and unlimited ... More >>

Orion Health named top vendor in major healthcare IT report

Friday, 27 February 2015, 10:39 am | Orion Health

Orion Health received the highest rankings for market execution, market vision, product capabilities and product vision More >>

Takeovers Panel consultation on small Code companies

Friday, 27 February 2015, 10:37 am | Minter Ellison Rudd Watts

The Takeovers Panel yesterday released a further consultation paper on small Code companies, aimed at avoiding some of the heavy compliance costs small companies face. The Panel has called for submissions, and the closing date is 25 March 2015, at 5:00 ... More >>

NZ and Australia Tie in the Trans-Tasman Wine Challenge

Friday, 27 February 2015, 10:32 am | New Zealand Winegrowers

New Zealand and Australia Tie in the Trans-Tasman Wine Challenge New Zealand Winegrowers injected some old fashioned rivalry in 'The Great Trans-Tasman Wine Challenge' on Thursday evening in Auckland ahead of the New Zealand and Australia Cricket World ... More >>

Delegat posts 45% drop in 1H profit despite rising sales

Friday, 27 February 2015, 10:29 am | BusinessDesk

Feb. 27 (BusinessDesk) - Delegat Group, New Zealand’s largest listed wine company, has posted a 45 per cent drop in first-half profit, mainly caused by a $10.7 million writedown of its vines and grapes and losses on derivative instruments used to limit ... More >>

Another Major Milestone for Holcim

Friday, 27 February 2015, 10:28 am | Holcim

Another Major Milestone for Holcim The next stage of Holcim New Zealand’s state-of-the-art cement storage dome at PrimePort in Timaru is now up, which is a major milestone in the $50 million project. Holcim is investing $100 million in building 30 000 tonne ... More >>

TB testing reductions another step in eradication

Friday, 27 February 2015, 10:23 am | OSPRI New Zealand

Farmers and OSPRI continue to make good progress in their fight against bovine tuberculosis (TB) as high risk areas are reduced. More than 3190 herds across 937,100 hectares will benefit from reductions in both Movement Control Areas (MCA) and cattle and ... More >>

ANZ Bulletin: News & Insights

Friday, 27 February 2015, 10:20 am | ANZ Bank

We aim to share regional news which will provide you with a broader insight into the book trade and include hints and tips for our products and services. More >>

Orion CFO Hyde to leave after company report earnings in May

Friday, 27 February 2015, 10:16 am | BusinessDesk

Feb. 27 (BusinessDesk) - Rodney Hyde, chief financial officer of Orion Health Group, has resign from the newly listed healthcare management software firm some three months after it joined the NZX. More >>

Vista annual profit falls less than forecast as sales climb

Friday, 27 February 2015, 10:15 am | BusinessDesk

Feb. 27 (BusinessDesk) - Vista Group International, the cinema software and analytics company, reported a smaller drop in annual profit than forecast in last year's offer document as sales climbed 55 percent on rapid growth in its core cinema software ... More >>

Tax changes to help SMEs

Friday, 27 February 2015, 10:09 am | KPMG

KPMG says key changes in the Tax Bill released yesterday will be welcomed by business. The key proposal in the Tax Bill is to allow start-up businesses undertaking R&D to cash up their tax losses. “The proposal, announced in last year’s Budget, ... More >>

Transpower announces half-year results

Friday, 27 February 2015, 9:53 am | Transpower

Transpower New Zealand today released its financial results for the six months ended 31 December 2014. Net profit after tax, before net changes in the fair value of financial instruments, was $107.7 million,an increase of 8% on the prior period of $99.7 million. ... More >>

Emirates Increases Capacity on its Daily Nairobi Service

Friday, 27 February 2015, 9:46 am | Emirates Airlines

Emirates will connect even more people with Kenya’s capital, Nairobi, when it switches from the current Airbus A330-200 aircraft used on one of the two daily services to a larger Boeing 777-300 ER from May 1. More >>

GPG annual profit drops 61% as 2013 asset sales wash through

Friday, 27 February 2015, 9:01 am | BusinessDesk

Feb. 27 (BusinessDesk) - Guinness Peat Group, which is rebranding to UK threadmaker Coats after exiting its other investments, reported a 61 percent drop in annual profit after asset sales bolstered its earnings the previous year. More >>

NZ dollar slips after better-than-expected US data

Friday, 27 February 2015, 8:28 am | BusinessDesk

Feb. 27 (BusinessDesk) - The New Zealand dollar fell as the greenback advanced after better-than-expected US data on inflation and business orders bolstered confidence about the outlook for the world's largest economy. More >>

While you were sleeping: Oil checks global equities

Friday, 27 February 2015, 7:57 am | BusinessDesk

Feb. 27 (BusinessDesk) - Wall Street was mixed as a decline in oil prices weighed on energy shares, offsetting optimism about a strong US economy and a supportive central bank. More >>


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