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Latest Business Headlines

Truscreen reports 523% sales growth for first half year

Tuesday, 16 October 2018, 10:28 am | Truscreen

• Sales for the six months ending 30 September 2018 tops NZD $1,406,932 (unaudited) • 522.8% increase on the corresponding period last year (NZD $225,896) • Gross margin increasing as in-house manufacturing lowers unit costs Cervical cancer screening ... More >>

BitPrime Cryptocurrency Price Update

Tuesday, 16 October 2018, 10:19 am | BitPrime

Cryptocurrency Market Market capitalisation yesterday: NZD$310,671,154,649 Market capitalisation today: NZD$319,650,934,168 Change: 2.89% More >>

Air New Zealand to lift plastic waste reduction

Tuesday, 16 October 2018, 9:43 am | Air New Zealand

Air New Zealand will substitute a further 14 single-use plastic products from its supply chain over the next 12 months – lifting plastic waste reduction to more than 24 million items per year. Today at its Sustainability Breakfast in Wellington ... More >>

McDonald's New Zealand moves to reduce plastic straw use

Tuesday, 16 October 2018, 9:15 am | McDonald's

McDonald’s New Zealand has today announced a move intended to reduce the number of single-use plastic straws used in its 167 restaurants around the country, along with the trial of fibre-based straws. From 17 October 2018, all McDonald’s New ... More >>

Trade Me commits to the Living Wage

Tuesday, 16 October 2018, 8:56 am | Trademe

Trade Me will move more than 30 staff to the Living Wage from the end of October. More >>

Air New Zealand and Zephyr Airworks to bring air taxis to NZ

Tuesday, 16 October 2018, 8:55 am | Air New Zealand

Air New Zealand and Zephyr Airworks today announced they have signed an agreement to work collaboratively on bringing the world’s first autonomous electric air taxi service to market in New Zealand. The agreement between the national carrier and ... More >>

HUI Māori Collective Launched at Parliament

Tuesday, 16 October 2018, 8:52 am | New Zealand Trade and Enterprise

One of New Zealand’s most innovative business solutions – to take high-quality local food and beverage products direct to Chinese consumers - has been launched at the Beehive. The formal agreement to create the HUI Māori Collective was signed ... More >>

Two Canterbury women win Institute of Directors’ Award

Tuesday, 16 October 2018, 8:48 am | Institute Of Directors

Hannah Doney and Kathryn Ruge have each won an Emerging Director Award from the Institute of Directors Canterbury Branch presented last night in Christchurch. More >>

HiFX morning Update, October 16, 2018

Tuesday, 16 October 2018, 8:40 am | HiFX

NZDUSD 0.6548 0.4% NZDEUR 0.5652 0.4% NZDGBP 0.4975 0.9% NZDJPY 73.22 0.1% NZDAUD 0.9175 0.1% NZDCAD 0.8506 0.0% GBPNZD 2.0101 -0.9% More >>

MARKET CLOSE: NZ shares dip as Fletcher gives up pursuit

Monday, 15 October 2018, 8:53 pm | BusinessDesk

Oct. 15 (BusinessDesk) - New Zealand shares dipped, outperforming many Asian markets, as Fletcher Building aborted its pursuit of Steel & Tube Holdings after its increased offer wasn't warmly embraced by the target. More >>

NZ primary sector exports seen rising 2.5% to $43.8B

Monday, 15 October 2018, 8:52 pm | BusinessDesk

Oct. 15 (BusinessDesk) - New Zealand’s primary industry export revenue is forecast to reach $43.8 billion for the year to June 2019, an increase of 2.5 percent on the prior year, according to the Ministry for Primary Industries' latest Situation and ... More >>

NZ dollar inches above 65 US cents ahead of 3Q CPI data

Monday, 15 October 2018, 8:17 pm | BusinessDesk

Oct. 15 (BusinessDesk) - The New Zealand dollar inched back above 65 US cents, sticking to a very tight range ahead of domestic inflation data tomorrow. More >>

September 2018 Situation and Outlook for Primary Industries

Monday, 15 October 2018, 7:47 pm | Ministry For Primary Industries

Media Release: September 2018 Situation and Outlook for Primary Industries New Zealand’s primary industry export revenue is forecast to reach $43.8 billion for the year to June 2019, an increase of 2.5 percent from 2018. The Ministry for Primary Industries ... More >>

Right Information, Right Appliance, Right Wattage

Monday, 15 October 2018, 7:28 pm | Electricity Retailers' Association of NZ

Right Information, Right Appliance, Right Wattage is Key to Ensuring You’re Getting the Best Value for Your Electricity More >>

Salt Funds to open up carbon trading to retail investors

Monday, 15 October 2018, 5:41 pm | BusinessDesk

Oct. 15 (BusinessDesk) - Salt Funds Management plans to list a dedicated carbon fund, opening up the green commodity directly for retail investors. More >>

ComCom wants more transparency about Fonterra

Monday, 15 October 2018, 5:33 pm | BusinessDesk

Oct. 15 (BusinessDesk) - The Commerce Commission is concerned Fonterra Cooperative Group's plans to mothball processing plants are too opaque. More >>

Jenny Shipley says Mainzeal directors in "no doubt"

Monday, 15 October 2018, 4:18 pm | BusinessDesk

Oct. 15 (BusinessDesk) - Directors of failed construction firm Mainzeal had no reason to question promises from its Chinese parent the company would get the financial support it needed to stay afloat, former Prime Minister Jenny Shipley told the High ... More >>

MoneyHub welcomes inquiry into currency conversion fees

Monday, 15 October 2018, 4:08 pm | Money Hub

The ACCC’s announcement of an inquiry into foreign currency conversion fees will put Australian banks under the microscope and seeks to get a fairer deal for Australians. The inquiry will cover fees applied to: More >>

New Entrant and More Competition in the Pet Insurance Market

Monday, 15 October 2018, 4:06 pm | Money Hub

The arrival of AA Pet Insurance, which launched on October 10, is a welcome addition to the pet insurance market currently dominated by Southern Cross, Pet-n-sur and Southern Cross. More >>

Thank Your Cleaner Day

Monday, 15 October 2018, 3:19 pm | OCS Limited

A clean, tidy and hygienic workplace is something most of us take for granted but behind the scenes is a group of hard-working and unsung heroes - cleaners. More >>

Self-regulation of vehicle inspection and licence failed

Monday, 15 October 2018, 3:15 pm | BusinessDesk

Oct. 15 (BusinessDesk) - Self-regulation by vehicle inspection and licencing providers has failed, says the chair of the New Zealand Transport Agency, Michael Stiassny, who discovered after his appointment in April that they haven't followed up on evidence ... More >>

Fletcher quits pursuit of Steel & Tube

Monday, 15 October 2018, 2:56 pm | BusinessDesk

Oct. 15 (BusinessDesk) - Fletcher Building won't keep chasing Steel & Tube Holdings after failing to win over the board with its latest offer. More >>

New NZ Young Farmers CEO plans North Island road trip

Monday, 15 October 2018, 2:47 pm | Young Farmers

NZ Young Farmers’ new chief executive will “couch surf” her way around the North Island next month. More >>

NZ service sector activity lifts in September

Monday, 15 October 2018, 2:01 pm | BusinessDesk

Oct. 15 (BusinessDesk) - Activity in New Zealand's services sector, which accounts for about two-thirds of the economy, increased slightly in September but remains below its long-term average. More >>

Fulton Hogan heads off quarry quandry by leaving Huntly site

Monday, 15 October 2018, 1:57 pm | BusinessDesk

Oct. 15 (BusinessDesk) - Fulton Hogan allayed competition concerns surrounding its purchase of Stevenson Group's construction materials business by leaving the Huntly quarry out of the acquisition. More >>

Dali Wins Double Gold Olive Awards

Monday, 15 October 2018, 1:56 pm | Dali Extra Virgin Olive Oil

A Martinborough grower, Dali Extra Virgin Olive Oil has won two Gold Medals and Best in Class at the Olives New Zealand Extra Virgin Olive Oil Awards, held in Masterton over the weekend. More >>

EPA chemical reassessment rational, says Agcarm

Monday, 15 October 2018, 1:16 pm | Agcarm

A strong food supply and healthy livestock are vital for the future of New Zealand’s primary industries and economy. The government reviews the tools that play an essential role in the fight against pests and diseases that threaten these. More >>

Trustpower raises earnings guidance

Monday, 15 October 2018, 12:58 pm | TrustPower

Oct. 15 (BusinessDesk) - Trustpower raised its forecast for annual earnings as it benefits from elevated wholesale electricity prices due to the Pohokura gas field outage and low hydro lake storage. More >>

Kiwi natural products exporters offered US insights

Monday, 15 October 2018, 12:57 pm | Buy Pure

New Zealand natural products exporters and entrepreneurs have an opportunity to gain insights to give them the inside running into the US market at an Enterprise Bootcamp in November, 2018. More >>

Michael Hill finds new transition harder than anticipated

Monday, 15 October 2018, 12:33 pm | BusinessDesk

Oct. 15 (BusinessDesk) - Michael Hill International is finding it harder to shift away from discount pricing than it anticipated, posting an 8.8 percent decline in first-quarter sales. More >>

Salt Funds to launch NZ's first NZX-listed carbon fund

Monday, 15 October 2018, 12:16 pm | Salt Funds

15 October 2018 – Salt Funds Management, a boutique investment management firm, is preparing to launch New Zealand’s first NZX-listed investment fund – designed to trade in New Zealand and international carbon credits. More >>

Steel & Tube wary of increased Fletcher bid

Monday, 15 October 2018, 12:12 pm | BusinessDesk

Oct. 15 (BusinessDesk) - Steel & Tube Holdings hasn't been won over by an increased takeover offer from Fletcher Building but will hire an independent expert to review the bid. More >>

SAE call for more women in film

Monday, 15 October 2018, 12:06 pm | SAE Auckland

Where are the female filmmakers? Why aren’t we seeing more women behind the camera, in the director’s chair or the editing room? These are just some of the questions that has led SAE Auckland to put on their second all-women screen production workshop, ... More >>

Neighbourhood shopping blocks up for sale

Monday, 15 October 2018, 11:57 am | Bayleys

Two neighbourhood shopping blocks with tenancies focused on servicing the household needs of their local clientele have been placed on the market for sale. More >>

Franchise Awards a chance to celebrate community involvement

Monday, 15 October 2018, 11:46 am | Westpac Franchise Awards

Tickets are now on sale for the Westpac New Zealand Franchise Awards 2018 on Saturday 10th November, which celebrates best practice in Franchising in New Zealand and highlights business support for local communities. More >>

NZ dollar gains vs Aussie as local inflation accelerates

Monday, 15 October 2018, 11:44 am | BusinessDesk

Oct. 15 (BusinessDesk) - The New Zealand dollar gained against its trans-Tasman counterpart as investors look to consumer price data tomorrow expected to show a faster pace of inflation. More >>

Nelson irrigators line up to complete finance for Waimea Dam

Monday, 15 October 2018, 11:40 am | BusinessDesk

Big Nelson irrigators line up to complete finance for Waimea Dam as private investor pulls out By Pattrick Smellie More >>

Rebuilding Trust in Financial Services

Monday, 15 October 2018, 11:15 am | CFA

New Zealand’s financial services sector must prove it deserves the public’s trust – or face the consequences of a situation like the one unfolding in Australia, says the country’s leading financial ethics and integrity association. More >>

Methane powered turbine installed at Hanmer Springs

Monday, 15 October 2018, 11:06 am | Hamner Springs

Hanmer Springs Thermal Pools and Spa has been granted the world’s smallest petroleum mining permit so it can turn previously wasted methane gas into electricity. More >>

Avoid late payments with new Direct Debit integration

Monday, 15 October 2018, 10:58 am | Xero

Auckland, 15 October, 2018 - Xero , the global small business platform, today announced an innovative expansion of its successful partnership with UK-based firm GoCardless to New Zealand. The integration allows small businesses to automate their payment ... More >>

Commercial office and retail block goes up for sale

Monday, 15 October 2018, 10:55 am | Bayleys

The land and buildings housing a range of retail and commercial tenants – including a sitting member of parliament who uses the location as one of his constituency offices – have been placed on the market for sale. More >>

NZ Head of Pharmaceutical Company GSK Signals Move

Monday, 15 October 2018, 10:25 am | GSK New Zealand

The New Zealand head of one of the world’s largest pharmaceutical companies has signalled a move into governance roles. Anna Stove, general manager of GSK NZ has significant global business experience and a successful track record in leading and ... More >>

Commerce Commission closes investigation into acquisition

Monday, 15 October 2018, 9:53 am | Commerce Commission

The Commerce Commission has closed its investigation into Fulton Hogan’s acquisition of Stevenson Group Limited’s construction materials business as its concerns with the transaction have been addressed. More >>

Commission releases draft report on Fonterra’s Milk Manual

Monday, 15 October 2018, 9:23 am | Commerce Commission

Commission releases draft report on Fonterra’s 2018/19 Milk Price Manual The Commerce Commission today released its draft report on its annual review of Fonterra’s Milk Price Manual for the 2018/19 dairy season. More >>

Survey says: Kiwis would rather insure property than selves

Monday, 15 October 2018, 9:00 am | Trademe

Kiwis are more focused on insuring their car, home and contents than themselves, and are no more insured than they were four years ago, according to a recent Trade Me survey which found half of Kiwis don’t have life insurance cover. More >>

A sheep that sole the A and P show

Monday, 15 October 2018, 8:52 am | Shearing Sports New Zealand

An enterprising sheep stole some of the limelight at the Ellesmere A and P Show on Saturday, gatecrashing a ribbon ceremony and masquerading as an alpaca after escaping from a pen at the shearing shed. More >>

Kiwi auctioneers out to be the best in Australasia

Monday, 15 October 2018, 8:51 am | REINZ

Kiwis Andrew North from Harcourts Cooper & Co and John Bowring from Ray White will be representing New Zealand and taking on 15 of Australia’s best auctioneers as they vie for the ultimate gavel at the 2018 Australasian Auctioneering Championships ... More >>

HiFX morning Update, October 15, 2018

Monday, 15 October 2018, 8:39 am | HiFX

The NZDUSD opens at 0.6509 (mid-rate) this morning. Compared with the volatility seen earlier in the week, currency markets were relatively subdued on Friday with most currency pairs trading tight ranges. The University of Michigan’s preliminary ... More >>

Environmental values paramount in lakeside development

Sunday, 14 October 2018, 12:09 pm | Seven Oaks

Environmental values paramount in prestige lakeside development Buyers are showing strong interest in the first stage of a new property development on the shores of Lake Taupo, which sets new standards of environmental stewardship. More >>

2018 New Zealand Extra Virgin Olive Oil Awards

Sunday, 14 October 2018, 12:07 pm | New Zealand Extra Virgin Olive Oil Awards

Winners in New Zealand’s most prestigious competition for olive oil were announced last night at a formal dinner held in Masterton. The New Zealand Extra Virgin Olive Awards are run by Olives New Zealand, the national organisation for olive oil growers. More >>

Kapiti Horowhenua Business Hall of Fame

Saturday, 13 October 2018, 12:14 pm | Electra Business Awards

Two businessmen who have each made significant contributions to their local communities for more than 45 years have been inducted into the Kapiti Horowhenua Business Hall of Fame. More >>

Tilt first-half output beats long-term projection

Friday, 12 October 2018, 10:01 pm | BusinessDesk

Oct. 12 (BusinessDesk) - Tilt Renewables said stronger than expected wind conditions in New Zealand and Australia pushed first-half production 6 percent ahead of plan. More >>

MARKET CLOSE: NZ shares snap losing streak

Friday, 12 October 2018, 9:59 pm | BusinessDesk

MARKET CLOSE: NZ shares snap losing streak as A2, blue-chips bounce back By Paul McBeth More >>

NZ dollar headed for 1.2% weekly gain as shine comes off USD

Friday, 12 October 2018, 8:27 pm | BusinessDesk

Oct. 12 (BusinessDesk) - The New Zealand dollar is headed for a 1.2 percent weekly gain after the greenback fell on declining U.S. yields and further losses on Wall Street. More >>

Economists expect RBNZ will look through inflation rise

Friday, 12 October 2018, 7:54 pm | BusinessDesk

Oct. 12 (BusinessDesk) - Rising oil prices, Auckland's regional fuel tax, and a sharply weaker New Zealand dollar are likely to have pushed inflation higher in the third quarter but not enough to ruffle any feathers at the Reserve Bank. More >>

Mainzeal directors ignored forex loan risk

Friday, 12 October 2018, 7:41 pm | BusinessDesk

Oct. 12 (BusinessDesk) - Directors of failed property company Mainzeal, including former Prime Minister Jenny Shipley and former Brierley Investments boss Paul Collins, should have known there was a high risk they wouldn’t get back millions of dollars ... More >>

SPTO announces new partnership with NZ Māori Tourism

Friday, 12 October 2018, 7:08 pm | South Pacific Tourism Office

SPTO announces new partnership with New Zealand Māori Tourism 12 October 2018, Suva, FIJI – The South Pacific Tourism Organisation is delighted to announce that it is partnering with New Zealand Māori Tourism for the premiere regional tourism ... More >>

Law Society rejects assertion of revenue harvesting

Friday, 12 October 2018, 4:14 pm | New Zealand Law Society

The New Zealand Law Society says it totally rejects reported assertions that it goes easy on lawyers in large law firms in order to continue collecting revenue from practising certificates. More >>

Stuff the laggard among Fairfax businesses

Friday, 12 October 2018, 3:58 pm | BusinessDesk

Oct. 12 (BusinessDesk) - Stuff has been the laggard among Fairfax Media Group's trans-Tasman businesses in recent months and may be sharpened up for divestment if a merger with Australia's Nine Entertainment Co goes ahead. More >>

High power prices to persist with Pohokura outage

Friday, 12 October 2018, 3:31 pm | BusinessDesk

Oct. 12 (BusinessDesk) - High power prices may persist for another month with full production from the Pohokura gas field not expected to resume before late November. More >>