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Latest Business Headlines

Dairy sector welcomes new freshwater rules

Thursday, 23 February 2017, 3:48 pm | Dairy NZ

DairyNZ today welcomed the Government’s new Clean Water policy setting out the ongoing programme of water reform. More >>

Port of Tauranga's Cairns 'relieved' to have revenue growth

Thursday, 23 February 2017, 3:31 pm | BusinessDesk

Feb. 23 (BusinessDesk) - Port of Tauranga chief executive Mark Cairns says he's relieved to see revenue growth as cargo volumes grow at New Zealand's biggest port, after the completion of a five-year, $350 million capital spending programme that ... More >>

Online training service nets aviation safety scholarship win

Thursday, 23 February 2017, 3:29 pm | Airways New Zealand

A project to set up free online training materials and animations is the recipient of this year’s Jilly Murphy Memorial Scholarship for Aviation Safety. Airways CEO Ed Sims, a member of the judging panel, says it was great to see the issue of airport ... More >>

Everyone must engage in the challenge to improve freshwater

Thursday, 23 February 2017, 3:05 pm | Federated Farmers

The pressure is now on all Kiwis to step up in the nationwide challenge to continue to improve the quality of our freshwater, Federated Farmers says. More >>

Alpine Energy announces new pricing

Thursday, 23 February 2017, 3:04 pm | Alpine Energy

With distribution charges typically accounting for around26% of electricity bills in South Canterbury, the new pricing will translate to an average increase of 2.3% for local businesses and residences. More >>

Seeking budding Māori digital entrepreneurs

Thursday, 23 February 2017, 2:58 pm | DIGMYIDEA Maori Innovation Challenge

DIGMYIDEA, which was first held in 2015, aims to inspire more Māori to engage in the digital economy by helping emerging Māori innovators turn their creative ideas into reality. More >>

Wool Market Strengthens

Thursday, 23 February 2017, 2:56 pm | Wool Services International

NZ Wool Services CEO John Dawson reports 4600 bales on offer this week saw an 87 percent clearance with mostly positive results, with lambs wool increasing considerably. More >>

Warren Richard McFie struck off roll

Thursday, 23 February 2017, 2:51 pm | New Zealand Law Society

Former Auckland lawyer Warren Richard McFie has been struck off the roll of barristers and solicitors by the New Zealand Lawyers and Conveyancers Disciplinary Tribunal. More >>

LINZ releases latest property data

Thursday, 23 February 2017, 2:49 pm | Land Information New Zealand

Land Information New Zealand (LINZ) latest property data shows that in October to December 2016, 2 percent of property transfers involved overseas tax resident buyers and 3 percent involved overseas tax resident sellers More >>

UPDATE: Summerset annual earnings rise 50%

Thursday, 23 February 2017, 2:37 pm | BusinessDesk

Feb. 23 (BusinessDesk) - Summerset Group boosted annual earnings 50 percent after opening more retirement villages and improving its margins. More >>

A Digital Union: Union Digital joins DT

Thursday, 23 February 2017, 2:28 pm | WPP AUNZ

Auckland, February 23, 2017: Designworks Group’s full service digital agency Union Digital has expanded its capability and global reach by announcing it is joining forces with fellow WPP AUNZ digital agency, DT, the region’s largest creative technology ... More >>

Coherent and connected water policy needed, LGNZ says

Thursday, 23 February 2017, 2:19 pm | LGNZ

A new approach to water policy is needed to ensure community expectations and government standards can be better met, Local Government New Zealand says. More >>

Transpower lifts 1H profit on higher transmission revenue

Thursday, 23 February 2017, 2:14 pm | BusinessDesk

Feb. 23 (BusinessDesk) - Transpower New Zealand reported a higher first-half profit as the state-owned company saw a rise in transmission revenue. More >>

Horticulture welcomes clean water plans

Thursday, 23 February 2017, 2:10 pm | Horticulture NZ

Horticulture New Zealand welcomes today’s Clean Water launch by the Government, says chief executive Mike Chapman. More >>

IrrigationNZ welcomes ‘achievable’ water quality outcomes

Thursday, 23 February 2017, 2:07 pm | Irrigation NZ

“Achievable outcomes within a reasonable timeframe” is how IrrigationNZ CEO, Andrew Curtis, described today’s release of the government’s ‘Clean Water’ document. He hoped however that the target of 90% of rivers and lakes being swimmable ... More >>

Vital Healthcare 1H distributable income rises 87%

Thursday, 23 February 2017, 1:41 pm | BusinessDesk

Feb. 23 (BusinessDesk) - Vital Healthcare Property Trust, the Auckland-based hospital and healthcare property developer and investor, said its first-half net distributable income rose 87 percent as acquisitions and developments helped drive rental income ... More >>

Intueri halves full-year loss

Thursday, 23 February 2017, 1:36 pm | BusinessDesk

Feb. 23 (BusinessDesk) - Intueri Education Group halved its full-year loss after taking a smaller charge on impairments, offsetting a 14 percent decline in revenue. More >>

SLI first-half loss more than doubles on strong kiwi

Thursday, 23 February 2017, 1:35 pm | BusinessDesk

Feb. 23 (BusinessDesk) - SLI Systems more than doubled its first-half loss as a strong New Zealand dollar and the loss of three major customers at the end of the 2016 financial year continued to weigh on earnings. More >>

Investors wipe nearly $300M off Sky TV valuation

Thursday, 23 February 2017, 1:30 pm | BusinessDesk

Feb. 23 (BusinessDesk) - Sky TV Network Television shares were hammered when trading opened on the New Zealand stock exchange this morning, with investors wiping $293 million off the value of the pay-TV provider after this morning's rejection of its ... More >>

World’s First Open, Cloud-Based Digital Signatures

Thursday, 23 February 2017, 1:27 pm | Adobe

Most Secure Signing Solution Expanding to Devices; Mobile Scanning and Workflow Automation Integrated into Adobe Sign More >>

Trade Me first half profit climbs 16%

Thursday, 23 February 2017, 1:09 pm | BusinessDesk

Feb. 23 (BusinessDesk) - Trade Me lifted first-half profit 16 percent signalling an end to an investment phase for the online marketplace and business, although the result fell just short of analyst expectations. More >>

Busy summer for MPI biosecurity staff

Thursday, 23 February 2017, 12:46 pm | Ministry For Primary Industries

Faced with record numbers of international visitors this summer, Ministry for Primary Industries biosecurity staff have intercepted risk goods ranging from the bizarre to the potentially devastating for New Zealand’s economy and environment. More >>

Summerset annual earnings rise 50% as expansion accelerates

Thursday, 23 February 2017, 12:33 pm | BusinessDesk

Feb. 23 (BusinessDesk) - Summerset Group boosted annual earnings 50 percent after opening more retirement villages and improving its margins. More >>

Premium sports monopoly key to Sky-Vodafone merger rejection

Thursday, 23 February 2017, 12:27 pm | BusinessDesk

Feb. 23 (BusinessDesk) - Ownership of “all premium sports content” by a “strongly vertically integrated pay-TV and full-service telecommunications provider” is the key reason for the Commerce Commission’s rejection of the proposed merger between ... More >>

Summerset annual earnings rise 50% as expansion accelerates

Thursday, 23 February 2017, 12:26 pm | BusinessDesk

Feb. 23 (BusinessDesk) - Summerset Group boosted annual earnings 50 percent after opening more retirement villages and improving its margins. More >>

Statement from Chief Executive NZ on Sky Vodafone ruling

Thursday, 23 February 2017, 12:21 pm | Vocus Communications

“This was the right call from the Commerce Commission, and we are very pleased with the ruling. More >>

Port of Tauranga posts 8.5% 1H profit gain

Thursday, 23 February 2017, 12:15 pm | BusinessDesk

Feb. 23 (BusinessDesk) - Port of Tauranga posted an 8.5 percent gain in first-half profit and raised its full-year guidance, saying both exports and import cargo volumes rose, including a rebound in the outbound log trade. More >>

Fed minutes show concern at greenback strength

Thursday, 23 February 2017, 12:13 pm | BusinessDesk

Feb. 23 (BusinessDesk) - The New Zealand dollar rose after minutes of the US Federal Reserve's latest meeting showed concern that a strong greenback could hurt the US economy while some comments appeared to downplay any near-term inflation risks. More >>

MYOB to acquire leading payment solutions provider, Paycorp

Thursday, 23 February 2017, 12:12 pm | MYOB

MYOB Group Limited (MYOB or the company; ASX: MYO), a leading provider of online business management solutions, today announced it has entered in to a sale and purchase agreement to acquire 100 per cent of Paycorp Payment Solutions Pty Limited (“Paycorp”) ... More >>

ComCom declines merger over competition fears

Thursday, 23 February 2017, 12:10 pm | BusinessDesk

Feb. 23 (BusinessDesk) - The Commerce Commission has rejected an application by Sky Network Television and Vodafone New Zealand to merge their businesses over fears it would stifle competition, with a key factor being its ownership of premium sports ... More >>

Promapp Ranked on the Deloitte Technology Fast 500™

Thursday, 23 February 2017, 12:09 pm | Promapp

Auckland, 23 February 2017 – Promapp, a leading provider of cloud-based business process management (BPM) software, today announced that it was one of 53 NZ companies ranked on the Deloitte Technology Fast 500™ Asia Pacific 2016, a ranking of the ... More >>

Fonterra keeps forecast farmgate payout at $6/kgMS

Thursday, 23 February 2017, 12:08 pm | BusinessDesk

Feb. 23 (BusinessDesk) - Fonterra Cooperative Group has kept its forecast farmgate payout at $6 per kilogram of milk solids, citing the rebalancing of demand and supply which led to a slump in dairy prices last year, and expects those prices to either ... More >>

Air New Zealand posts 24% decline in 1H profit

Thursday, 23 February 2017, 12:06 pm | BusinessDesk

Feb. 23 (BusinessDesk) - Air New Zealand posted a 24 percent fall in first-half pretax profit in the face of increasing competition both at home and abroad but fared better than analysts expected. More >>

Vital Healthcare 2017 Interim result

Thursday, 23 February 2017, 11:57 am | Vital Healthcare Property Trust

Vital Healthcare Property Trust today announced a strong interim result for the six months to 31 December 2016. A second quarter cash distribution of 2.125 cents per unit will be paid to investors on 23 March 2017. More >>

Consumers are beneficiaries of decision to turn down merger

Thursday, 23 February 2017, 11:25 am | Spark NZ

Spark New Zealand said today the Commerce Commission’s decision to decline the proposed merger between Sky Network Television Ltd (“Sky”) and Vodafone New Zealand (“Vodafone”) is a big positive for kiwi consumers. More >>

InternetNZ comment on merger clearance decision

Thursday, 23 February 2017, 11:18 am | Internet NZ

InternetNZ has responded to this morning’s decision by the Commerce Commission to deny Commerce Act clearance for the proposed merger of Vodafone and Sky. More >>

Sky Vodafone merger decision was a fight worth having

Thursday, 23 February 2017, 11:02 am | 2degrees Mobile

Today’s decision by the Commerce Commission to decline the proposed merger of Vodafone and Sky highlights the importance of protecting competition – especially a three player mobile market. More >>

Process efficiency delivered with global leader Esker

Thursday, 23 February 2017, 10:54 am | Fuji Xerox

In its continuing drive to deliver increased automation and control to manual business processes, Fuji Xerox New Zealand’s Enterprise Consulting Services says its partnership with global Accounts Payable (AP) leader Esker is bringing best practice capabilities ... More >>

Port of Tauranga On Track for One Million Containers (TEUs)

Thursday, 23 February 2017, 10:48 am | Port of Tauranga Limited

Half year net profit rises to $41.9 million from $38.6 million as the country’s premier freight gateway benefits from rising cargo volumes and continues to set standards for port productivity More >>

Second largest interim result and maintains strong dividend

Thursday, 23 February 2017, 10:40 am | Air New Zealand

Air New Zealand has today announced earnings before taxation for the first six months of the 2017 financial year of $349 million, compared to $457 million in the prior year - the second highest result for an interim period in the airline’s history. More >>

Latipay riding the great China payment wall

Thursday, 23 February 2017, 10:33 am | Latipay

A high rising New Zealand company riding the great China payment wall is in line next month for a major international award at a global accelerator awards event in Austin, Texas. More >>

Fonterra Confirms 2016/17 Forecast Farmgate Milk Price

Thursday, 23 February 2017, 10:29 am | Fonterra

Fonterra is required to consider its forecast Farmgate Milk Price every quarter as a condition of the Dairy Industry Restructuring Act. For this purpose, Fonterra Co-operative Group Limited today confirmed the forecast Farmgate Milk Price of $6.00 per kgMS ... More >>

New Zealanders Offered Sweet Investment

Thursday, 23 February 2017, 10:20 am | Canaan Honey

New Zealanders are being invited to invest money for honey in a revolutionary hive sharing initiative launching today. More >>

Ports of Auckland holds first-half dividend unchanged

Thursday, 23 February 2017, 9:41 am | BusinessDesk

Feb. 22 (BusinessDesk) - Ports of Auckland will pay its owner, Auckland Council, an unchanged first-half dividend even as profit fell and debt rose. More >>

HiFX Data Update - US Fed Interest Rate Decision

Thursday, 23 February 2017, 9:29 am | HiFX

The US Federal Reserve Open Market Committee (FOMC) have just announced US interest will remain unchanged for now but may raise rates fairly soon. The key points from this meeting include: More >>

NZ shares down, Fletcher and Sky TV drop on earnings

Thursday, 23 February 2017, 9:26 am | BusinessDesk

Feb. 22 (BusinessDesk) - New Zealand shares dropped, dragged lower after Fletcher Building's first half earnings disappointed, with A2 Milk Co and Sky Network Television also falling. More >>

HiFX Morning Update, February 23 2017

Thursday, 23 February 2017, 9:23 am | HiFX

The NZDUSD opens at 0.7162 (mid-rate) this morning. Currency and equity markets have remained in a holding pattern ahead of this morning’s FOMC monetary policy meeting minutes data release. Overnight the UK Office for National Statistics upwardly ... More >>

Vodafone disappointed proposed merger declined

Thursday, 23 February 2017, 9:15 am | Vodafone

Vodafone New Zealand and Vodafone Group Plc (LSE: VOD) were today advised the New Zealand Commerce Commission declined the proposed merger of Vodafone New Zealand with SKY Network Television Ltd (ASX and NZX: SKT). More >>

Commission declines clearance for Vodafone/Sky merger

Thursday, 23 February 2017, 9:11 am | Commerce Commission

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More >>

UPDATE2: Fletcher shares drop after 1H results

Thursday, 23 February 2017, 9:07 am | BusinessDesk

Feb. 22 (BusinessDesk) - Fletcher Building shares fell after the company posted a 2 percent gain in first-half profit that included unexpectedly weak earnings from its construction division that included a loss in the "tens of millions" on a major ... More >>

NZ dollar holds gains as investors keep watch on the Fed

Thursday, 23 February 2017, 9:04 am | BusinessDesk

Feb. 22 (BusinessDesk) - The New Zealand dollar held on to earlier gains as markets await minutes from the US Federal Reserve's latest meeting and several more speeches from Fed officials for a steer on where US interest rates may be heading. More >>

UPDATE: Spark, 2Degrees granted stay on merger decision

Thursday, 23 February 2017, 9:02 am | BusinessDesk

Feb. 22 (BusinessDesk) - Spark New Zealand and 2Degrees have been granted a stay on the proposed merger between rival Vodafone New Zealand and pay-TV operator Sky Network Television to consider their legal options. More >>

Air NZ joins govt's cross-agency panel for air travel

Thursday, 23 February 2017, 9:00 am | BusinessDesk

Feb. 22 (BusinessDesk) - Air New Zealand has joined the panel of carriers providing air services in the government's cross-agency contract designed to get the best deal for the taxpayer. More >>

Spark, 2Degrees granted stay on merger decision

Thursday, 23 February 2017, 8:58 am | BusinessDesk

Feb. 22 (BusinessDesk) - Spark New Zealand and 2Degrees have been granted a stay on the proposed merger between rival Vodafone New Zealand and pay-TV operator Sky Network Television to consider their legal options. More >>

Living Cell Technologies reports wider 1H loss

Thursday, 23 February 2017, 8:49 am | BusinessDesk

Feb. 22 (BusinessDesk) - Living Cell Technologies, the ASX-listed biotech company with New Zealand-based operations, reported a wider loss in the six months to Dec 31 on increased research and development. More >>

Coca Cola Amatil's NZ business boosts earnings in 2016

Thursday, 23 February 2017, 8:47 am | BusinessDesk

Feb. 22 (BusinessDesk) - Coca-Cola Amatil's New Zealand business generated bigger annual earnings in 2016 as the local bottler of Coke-branded drinks ramped up sales volumes with skinnier margins as part of a strategy launched three years ago. More >>

While you were sleeping: DuPont, Unilever rally

Thursday, 23 February 2017, 7:37 am | BusinessDesk

Feb. 23 (BusinessDesk) - Wall Street was mixed, with a rally in shares of DuPont lifting the Dow to a fresh record high, while a decline in oil weighed on energy stocks. More >>

Ports of Auckland Interim Results

Wednesday, 22 February 2017, 5:10 pm | Ports of Auckland

Revenue up 4% to $110.5m • Trading profit before income tax $36.9m, up 5.89% • Tax up $3m due to prior period adjustment to Council Group tax offset • Net profit after tax $29.3m compared with $31.6m for the same period last year • Dividend ... More >>

A2 CEO, chair sell down holdings following strong first-half

Wednesday, 22 February 2017, 5:06 pm | BusinessDesk

Feb. 22 (BusinessDesk) - A2 Milk Co's chief executive and chair have sold down their stakes in the milk marketing firm, less than a week after reporting first-half profit more than tripled as demand for its A2 Platinum infant formula surged in its key ... More >>

TVNZ posts 6.2% decline in first-half earnings

Wednesday, 22 February 2017, 4:50 pm | BusinessDesk

Feb. 22 (BusinessDesk) - Television New Zealand posted a 6.2 percent decline in first-half earnings as advertising revenue fell faster than operating costs, which the state-owned broadcaster said was a creditable performance in a declining TV market. More >>


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