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Latest Business Headlines

New Zealand Petroleum Exploration and Mining Permits Map

Thursday, 23 October 2014, 9:47 am | Freeman Media

The next edition of the New Zealand Petroleum Exploration and Mining Permits map is available now. This edition features numerous permit work programme changes including to timelines for drilling work and seismic acquisition, several permit surrenders ... More >>

Wheeler says LVR policy worth 25-50 basis points off OCR

Thursday, 23 October 2014, 9:47 am | BusinessDesk

Oct. 23 (BusinessDesk) - The Reserve Bank's introduction of limits to low-equity mortgage lending last year had a similar impact on inflation as raising the official cash rate by as much as 50 basis points, governor Graeme Wheeler told a global banking ... More >>

NZ dollar falls ahead of inflation on prospect of low rates

Thursday, 23 October 2014, 8:39 am | BusinessDesk

NZ dollar weakens ahead of 3Q inflation on speculation interest rates to stay on hold More >>

While you were sleeping: Boeing shares, oil drop

Thursday, 23 October 2014, 7:38 am | BusinessDesk

Oct. 23 (BusinessDesk) - Wall Street slid paced by Boeing as investors worried about expenses for its 787 Dreamliner passenger jet, while oil fell after a report showed US inventories rose more than expected last week. More >>

Shell and Todd caught drilling without approval

Wednesday, 22 October 2014, 7:55 pm | BusinessDesk

Oct. 22 (BusinessDesk) - Multi-national oil company Shell's New Zealand arm and local energy giant Todd Energy have breached the new law governing New Zealand's Exclusive Economic Zone, the Environmental Protection Authority says in an Oct. 10 document ... More >>

MARKET CLOSE: NZX 50 rises to record, led by Xero

Wednesday, 22 October 2014, 5:38 pm | BusinessDesk

Oct. 22 (BusinessDesk) - New Zealand shares rose to a record close, led by Xero, as investors returned to more risk-based equities after last week's volatility. Nuplex gained after selling two of its Australasian assets, while Fletcher Building touched ... More >>

High Court credit fees judgment clarifies rules for lenders

Wednesday, 22 October 2014, 5:23 pm | Commerce Commission

The High Court yesterday released a judgment that further clarifies the rules that lenders must comply with when charging credit fees to borrowers. More >>

NZ dollar gains after Australian inflation higher

Wednesday, 22 October 2014, 5:13 pm | BusinessDesk

Oct. 22 (BusinessDesk) - The New Zealand dollar rose after Australian inflation was a little higher than expected in the third quarter, supporting demand for the Australian dollar and dragging the kiwi with it. More >>

NZ Super Fund encouraged to establish derivatives policy

Wednesday, 22 October 2014, 5:07 pm | BusinessDesk

Oct. 22 (BusinessDesk) - The New Zealand Superannuation Fund, which was set up to partially cover the cost of a ballooning baby boomer pension bill, has been encouraged to bed in a series of organisational changes over the past few years, and implement ... More >>

LynnMall's newest Teen Ambassadors named

Wednesday, 22 October 2014, 4:51 pm | LynnMall Shopping Centre

After making it through to the top 35, taking part in an afternoon of sandwiches and selfies with local rest home residents and then qualifying for the top 20, two of LynnMall’s most avid fans have made it to ambassador status: Amaya Lodge-Osborn ... More >>

Man up and show you’re CAPable

Wednesday, 22 October 2014, 4:49 pm | Bridgestone

Directly support Bridgestone’s Pink Cap Drive for New Zealand Breast Cancer Foundation; post choice shots of how you’re using the iconic pink tyre valve caps at More >>

#giveemasqueeze Show Mum Massive Love & Squeeze Her

Wednesday, 22 October 2014, 4:48 pm | Bridgestone

Post pictures of your hugs with mum at and directly support Bridgestone’s Pink Cap Drive for New Zealand Breast Cancer Foundation More >>

Quattro IPO back on as it halves NZ property portfolio

Wednesday, 22 October 2014, 4:37 pm | BusinessDesk

Quattro IPO back on as it halves NZ property portfolio, cuts capital raise by 28% More >>

CORRECT: ACC FY profit more than halves as claims mount

Wednesday, 22 October 2014, 4:11 pm | BusinessDesk

Oct. 22 (BusinessDesk) - Accident Compensation Corp, the state-owned accident insurer, reported a 57 percent drop in annual profit after it faced more claims than anticipated, and as its investment portfolio returns missed expectations. More >>

Vector warns on $80M hit from falling electricity use: CEO

Wednesday, 22 October 2014, 3:54 pm | BusinessDesk

Oct. 22 (BusinessDesk) - Vector, the Auckland lines company, says falling electricity consumption will cost it up to $80 million because of the way it's regulated, according to chief executive Simon Mackenzie. More >>

Bucklands Beach local wins design competition

Wednesday, 22 October 2014, 3:39 pm | The Warehouse

Graedon Parker’s bag design titled ‘Aotearoa – Keeping NZ Pure’ came out on top of The Warehouse’s inaugural competition to create an eco-inspired design for its reusable bag. More >>

Māori Television Confirmation

Wednesday, 22 October 2014, 3:25 pm | Maori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. More >>

Why Creatives Still Need Help With Being Creative

Wednesday, 22 October 2014, 3:17 pm | Creative Flow

A screenwriter and a psychologist have joined forces to design a new training workshop for people who rely on ideas for a living. Psychologist Chantal Hosftee and Writer/Ideation Tutor Kathryn Burnett have combined their experience to create the Maximise Your ... More >>

Jono And Ben’s ‘Road to the Final’ Promotion Wins Silver

Wednesday, 22 October 2014, 3:07 pm | Mediaworks

Jono And Ben’s ‘Road to the Final’ Promotion Wins Silver for Mediaworks And Heineken at the BEFest Awards More >>

Orion private placements provide clue for IPO price

Wednesday, 22 October 2014, 3:06 pm | BusinessDesk

Oct. 22 (BusinessDesk) - Recent issues of Orion Health Group shares to private investors provide clues to the issue price in its upcoming initial public offer, More >>

ASB and ASB Community Trust end long-term relationship

Wednesday, 22 October 2014, 3:05 pm | ASB Bank

ASB and the ASB Community Trust have reached a mutual agreement to end their long-term sponsorship relationship. The ASB Community Trust was formed in 1988 with the proceeds of the staggered sale of ASB to the Commonwealth Bank of Australia. 45 million shares ... More >>

Boutique Retirement Village Planned

Wednesday, 22 October 2014, 2:59 pm | Shotover Country

October 22 2014: Plans for a high quality boutique retirement village at Queenstown’s Shotover Country have been announced following the purchase of a key site in the subdivision by an established New Zealand retirement living operator. More >>

New Chair And Directors for NZ Law Limited Board

Wednesday, 22 October 2014, 2:57 pm | NZ LAW

NZ LAW Limited has announced the appointment of its new chairman – Michael Busch, as well as the re-election of director, David Graham and the election of two new directors to its board – Gerard DeCourcy and Mark Henderson. These appointments ... More >>

New member laureate programme

Wednesday, 22 October 2014, 2:42 pm | Property Council Of New Zealand

Property Council will today recognise outstanding contributions to the New Zealand commercial property industry by naming three Member Laureates. More >>

Fletcher drops to 2014 low as investors sell on guidance

Wednesday, 22 October 2014, 2:16 pm | BusinessDesk

Oct. 22 (BusinessDesk) - Shares of Fletcher Building, New Zealand's largest listed company, have fallen to their lowest level of the year after the building supplies and construction company's earnings guidance disappointed investors. More >>

Courier driver who blamed fake tax agent is sentenced

Wednesday, 22 October 2014, 1:50 pm | Inland Revenue Department

A Papamoa-based courier driver who lied and blamed a non-existent tax agent for mishandling his tax affairs has been sentenced to 12 months home detention and ordered to pay back $180,000. More >>

Triple Trophies as Villa Maria Shine at Hawkes Bay A&P

Wednesday, 22 October 2014, 1:32 pm | Villa Maria Estate

After securing an impressive six gold’s at this year’s Hawkes Bay A&P wine awards, Villa Maria continues its run of success by collecting three trophies and Wine of Show at the country’s largest regional wine competition, held last night at the ... More >>

Construction momentum builds across New Zealand

Wednesday, 22 October 2014, 1:22 pm | Hays

Jobs growth in New Zealand’s construction industry is gathering pace as several large infrastructure developments have commenced or are about to get underway, says recruiting experts Hays Construction. More >>

Another ‘first’ for property services company Bayleys

Wednesday, 22 October 2014, 12:55 pm | Bayleys

Bayleys Property Services and sister company Bayleys Valuations Ltd have become the first organisations in New Zealand to receive official accreditation from the Property Institute of New Zealand to operate across all four sectors of its presence in the ... More >>

James Pascoe increases stake in Warehouse to 6.3%

Wednesday, 22 October 2014, 12:55 pm | BusinessDesk

Oct. 22 (BusinessDesk) - James Pascoe, the retail group owned by David and Anne Norman, has added to its holding in Warehouse Group by buying on market this week, taking advantage of shares trading near their lows for the year. More >>

Kiwinet Challenge for new mussel-processing technologies

Wednesday, 22 October 2014, 12:44 pm | KiwiNet

Sanford Limited is taking on a KiwiNet Business Challenge to uncover novel proposals for high-speed automated technologies that will help it process its current daily rate of 1.5 million mussels. More >>

Heritage Christchurch Open Day attracts huge crowds

Wednesday, 22 October 2014, 12:36 pm | Heritage Hotels

Heritage Christchurch opened its doors to the public on Sunday afternoon the 19th of October as part of the Beca Heritage Week in Christchurch. The hotel displayed vintage cars on the forecourt of the 101 year old building, whilst inside tea was ... More >>

KiwiNet forum focuses on innovation from science to start-up

Wednesday, 22 October 2014, 12:33 pm | KiwiNet

Commercialisation professionals from Universities and Crown Research Institutes around New Zealand are in Christchurch today for a forum on turning clever science and technology into commercial value. More >>

ACC annual profit more than halves as claims mount

Wednesday, 22 October 2014, 12:12 pm | BusinessDesk

Oct. 22 (BusinessDesk) - Accident Compensation Corp, the state-owned accident insurer, reported a 57 percent drop in annual profit after it faced more claims than anticipated, and as its investment portfolio returns missed expectations. More >>

Zomato launches operations in Canada

Wednesday, 22 October 2014, 12:10 pm | Zomato

October 21, 2014 – Zomato, the popular restaurant search and discovery service, has made its first push into North America with the launch of its Toronto section. Zomato covers over 11,000 restaurants in the Greater Toronto Area and is available ... More >>

Ballance moves to science specialisation

Wednesday, 22 October 2014, 11:55 am | Ballance Agri-Nutrients

With New Zealand farming systems as diverse as farmers themselves, Ballance Agri-Nutrients’ Science Extension team is making the shift to specialist roles to better support the changing requirements of farmers working with different climates, topography, ... More >>

Hell delivers pizza and pyrotechnics

Wednesday, 22 October 2014, 11:54 am | Hell Pizza

NZ’s most innovative pizza company is set to deliver one Hell of a bang this Guy Fawkes. More >>

Good Technology Acquires Macheen

Wednesday, 22 October 2014, 11:46 am | Lewis PR

Auckland, New Zealand—October 22, 2014 – Good Technology ™, the leader in secure mobility, today announced its acquisition of Macheen, Inc., a privately held, mobile cloud application service provider based in Austin, Texas. Terms of the deal ... More >>

Aspiring Director & First Steps in Governance Award Winners

Wednesday, 22 October 2014, 11:37 am | Institute Of Directors

The Canterbury Branch of the Institute of Directors’ (IoD) Aspiring Director Award has been awarded to Jessie Chan-Dorman and the inaugural First Steps in Governance Award has been awarded to Gareth Reed. More >>

Farmers to get the full Ruataniwha facts on 4 November

Wednesday, 22 October 2014, 11:29 am | Federated Farmers

Federated Farmers and Irrigation NZ have joined forces to give farmers the facts they need to make decisions on Ruataniwha dam water. ‘Ruataniwha – it’s Now or Never’ is free and will take place on 4 November at Waipawa’s Municipal Theatre ... More >>

Ora King Awards

Wednesday, 22 October 2014, 11:28 am | Pead PR

Chefs from a Michelin star establishment in New York, a Petone neighbourhood restaurant, a Las Vegas resort restaurant and a stunning Queenstown luxury hotel dining room have all triumphed in the annual awards More >>

Māori Operated SMEs Ahead on Earnings

Wednesday, 22 October 2014, 11:27 am | MYOB

Māori-operated small businesses have outperformed the SME average over the last year, although operators are less confident of growth in 2015 according to a nationwide survey. More >>

Rockburn Pinot Noir #1 in New Zealand with Cuisine Magazine

Wednesday, 22 October 2014, 11:08 am | Rockburn Pinot Noir

Rockburn Wines have beaten stiff competition to take out the number one spot for Pinot Noir with Cuisine magazine’s just-released New Zealand Pinot Noir Tasting. More >>

Special housing not to be scoffed

Wednesday, 22 October 2014, 10:51 am | Classic Builders

Peter Cooney, director of one of New Zealand’s largest residential building company, Classic Builders, says there is a misperception about special housing being cheap and low quality that must be shaken. More >>

Strong performance positions ACC well for the future

Wednesday, 22 October 2014, 10:50 am | ACC

ACC achieved a strong financial performance in 2013/14 as it began a three-year programme to improve customer service and increase public trust and confidence, said ACC Board Chair, Paula Rebstock. ACC’s annual report, released today, shows a net ... More >>

Sergeant Awarded NZDIA/Defence Relationship Award

Wednesday, 22 October 2014, 10:49 am | New Zealand Defence Industry Association

The NZDIA/Defence Relationship Award was won today by Sergeant Mike Wear of the Royal New Zealand Air Force base in Whenuapai. The award ceremony was held on the first day of the NZ Defence Industry Association’s two-day international forum at the ... More >>

NZ tops UN global census on co-operatives

Wednesday, 22 October 2014, 10:42 am | Cooperative Business New Zealand.

The champion of the Kiwi co-operative sector is delighted by New Zealand’s top ranking in a UN survey measuring the social and economic impact of co-operatives in 145 countries. Cooperative Business NZ , which represents the interests of co-ops ... More >>

UPDATE: Nuplex shares rise 3.9% on sale of ANZ units

Wednesday, 22 October 2014, 10:39 am | BusinessDesk

UPDATE: Nuplex shares rise 3.9% on sale of ANZ units to CHAMP backed company More >>

iHeartRadio Adds Radio Tarana Recognising Indian Community

Wednesday, 22 October 2014, 10:26 am | iHeartRadio NZ

iHeartRadio is New Zealand Media and Entertainment’s (NZME.) all-in-one digital radio service. iHeartRadio NZ is proud to announce the inclusion of Radio Tarana to the platform. More >>

Xero eyes possible A$1 billion float in US, media reports

Wednesday, 22 October 2014, 10:24 am | BusinessDesk

Oct. 22 (BusinessDesk) - Xero, the cloud-based accounting software company, is moving ahead with plans to list in the US with an initial public offer of A$1 billion flagged, according to media reports. More >>

Health and safety sorted

Wednesday, 22 October 2014, 10:17 am | University of Canterbury

A University of Canterbury student-developed company is helping the construction industry better work through health and safety incidents on the spot. More >>

Seeka sees annual profit growth of up to 11%

Wednesday, 22 October 2014, 10:06 am | BusinessDesk

Oct. 22 (BusinessDesk) - Seeka Kiwifruit Industries, the country's biggest kiwifruit grower, sees annual profit growth of up to 11 percent and is planning to expand its capacity in coming years as kiwifruit crops recover from the outbreak of the Psa-V ... More >>

Nuplex agrees to sell ANZ units to Champ for A$127.5 mln

Wednesday, 22 October 2014, 10:03 am | BusinessDesk

Nuplex agrees to sell ANZ units to Champ-backed company for A$127.5 mln More >>

Announcement of new group to represent ICT sector

Wednesday, 22 October 2014, 9:52 am | Inland Revenue Department

Announcement of new group to represent ICT sector and help transform New Zealand’s tax system More >>

New Ombudsman opinion

Wednesday, 22 October 2014, 9:49 am | Office of the Ombudsman

The Ombudsman has released his opinion on a complaint about the NZ Fire Service’s decision to refuse a request for the NZ Localities dataset, unless the requester signed a licence agreement governing use of the dataset. More >>

Jimmy Koh, KVB Kunlun fined, censured for NZX rule breaches

Wednesday, 22 October 2014, 9:48 am | BusinessDesk

Jimmy Koh, KVB Kunlun fined $65,000, censured for NZX rule breaches over Z, other IPOs More >>

Clearview Estate punches above its weight in wine awards

Wednesday, 22 October 2014, 9:45 am | Clearview Winery

Clearview Estate Winery took out two of the 13 Gold Trophy awards in this year’s Hawke’s Bay wine awards; with only big player Villa Maria doing better, taking out one more. More >>

Quantum of fees work to follow second MTF judgment

Wednesday, 22 October 2014, 9:06 am | BusinessDesk

Oct. 22 (BusinessDesk) - The second judgment in the antitrust regulator's case against auto-lender Motor Trade Finance over its loan contracts has been released, and leaves more work for the financier and Commerce Commission to calculate the quantum of fees ... More >>

NZ dollar falls on speculation ECB will inject more stimulus

Wednesday, 22 October 2014, 8:48 am | BusinessDesk

Oct. 22 (BusinessDesk) - The New Zealand dollar fell after reports that the European Central Bank may consider taking more steps to stimulate the euro-zone economy, stoking demand for the greenback. More >>

While you were sleeping: US housing recovers

Wednesday, 22 October 2014, 7:45 am | BusinessDesk

Oct. 22 (BusinessDesk) - Wall Street advanced, up more than 1 percent, amid better-than-expected data on existing US home sales, and solid corporate earnings including from Apple. More >>


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