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Latest Business Headlines

BNZ Outage - Statement

Sunday, 27 May 2018, 4:27 pm | BNZ

On behalf of everyone at BNZ, I want to apologise for the disruption caused to our customers yesterday by the systems outage we experienced. A power failure was the cause of the problem and we are very sorry for the inconvenience it caused to people ... More >>

Vbase’s Chief Executive named Venue Professional

Sunday, 27 May 2018, 11:12 am | Vbase

Vbase’s Chief Executive, Darren Burden has won Venue Professional of the Year at the 2018 Venue Management Association (VMA) Awards, which were held at a gala dinner in Auckland on Tuesday 22 May. More >>

We should value our workers

Saturday, 26 May 2018, 11:49 am | Horticulture NZ

Hamish Daring from Moorpark and Mulberry Orchard, Cromwell has been named Central Otago Young Fruit Grower of the Year, following a day of intense competition in Cromwell today. More >>

2018 Hi-Tech Awards winners announced

Saturday, 26 May 2018, 11:42 am | Hi-Tech Trust

2018 Hi-Tech Awards winners announced Record number attend gala dinner Highlights: • Invenco named Hi-Tech Company of the Year • Claudia Batten inducted into the NZ Hi-Tech Hall of Fame • Dexibit takes out two awards Christchurch, May 25, 2018 ... More >>

MARKET CLOSE: NZ shares up as Comvita, A2 rebound

Friday, 25 May 2018, 8:34 pm | BusinessDesk

MARKET CLOSE: NZ shares up as Comvita, A2 rebound from weakness, Steel & Tube keeps dropping More >>

NZ Meat Board chases higher returns from $70M of funds

Friday, 25 May 2018, 8:33 pm | BusinessDesk

NZ Meat Board chases higher returns from $70M of funds now held in term deposits More >>

NZ dollar ekes out 0.1% weekly gain, treading water

Friday, 25 May 2018, 8:16 pm | BusinessDesk

May 25 (BusinessDesk) - The New Zealand dollar is headed for a 0.1 percent weekly gain against the greenback and is largely treading water as markets eye the political turbulence between the US and North Korea. More >>

NZ industrial property offers ‘good returns’, analyst says

Friday, 25 May 2018, 7:38 pm | BusinessDesk

May 25 (BusinessDesk) - New Zealand industrial property is offering investors “good returns”, growing faster than office and retail sites, a trend that’s been picked up on by some of the nations’ biggest listed property investors. More >>

Top oil analyst slams Govt's 'errors and misrepresentations'

Friday, 25 May 2018, 7:31 pm | BusinessDesk

May 25 (BusinessDesk) - Government ministers are peddling a range of "incorrect or misleading" arguments about the impact of its ban on issuing new licences for offshore oil and gas exploration, says leading oil and gas sector analyst John ... More >>

More strikes planned for Event Cinemas this weekend

Friday, 25 May 2018, 6:41 pm | Unite Union

Unite Union has authorised a window of industrial action across Event cinemas up and down New Zealand again today, following on from the success of Wednesday nights' strike on the midnight screening of Star Wars movie Han Solo. More >>

Fatal interactions between forklifts and people

Friday, 25 May 2018, 4:43 pm | WorkSafe NZ

A major freight distribution and logistics company appeared in Auckland District Court today after an incident involving a forklift that left a man fatally injured. More >>

Augusta earnings fall as delayed fund pushes out fees

Friday, 25 May 2018, 3:31 pm | BusinessDesk

May 25 (BusinessDesk) - Augusta Capital’s annual earnings dropped 14 percent as delays to the launch of its $118 million industrial property fund meant anticipated fees didn’t eventuate in the period, unlike costs tied to the offer. More >>

Land innovation for the future of the agrifood sector

Friday, 25 May 2018, 3:29 pm | Lincoln Hub

Agriculture has long been considered the backbone of New Zealand, and now the fast changing agricultural and food sector presents the opportunity to create sustainable economic growth and establish New Zealand on the world stage. Collective collaboration ... More >>

Stats NZ takes over property transfers data from LINZ

Friday, 25 May 2018, 3:25 pm | BusinessDesk

May 25 (BusinessDesk) - Statistics New Zealand will publish statistics on property transfers by all New Zealanders and overseas people from June 7, after taking over the task from Land Information New Zealand. More >>

Asbestos clarifications welcome relief for landlords

Friday, 25 May 2018, 2:37 pm | REINZ

The Real Estate Institute of New Zealand (REINZ) has today welcomed the policy clarification from Worksafe NZ on the requirement for asbestos management plans for residential rental properties. The clarification will be a welcome relief for landlords and property ... More >>

Anzco Foods says annual pre-tax profit fell 90%

Friday, 25 May 2018, 2:10 pm | BusinessDesk

May 25 (BusinessDesk) - Meat processor and exporter Anzco Foods reported a 90 percent plunge in full-year pre-tax profit in what it said was a tough year for beef processing. More >>

Avis Named NZ's Most Trusted Car Rental Brand

Friday, 25 May 2018, 1:31 pm | Avis

Avis Named New Zealand’s Most Trusted Car Rental Brand Avis Car Rental New Zealand has won the Reader’s Digest Most Trusted Brands Survey for the third time in five years in the Car Rental Companies category. The Readers Digest Survey identifies ... More >>

Veritas' Morton to step down after Nomura deal announced

Friday, 25 May 2018, 1:16 pm | BusinessDesk

May 25 (BusinessDesk) - Veritas Investments director Michael Morton will step down from the board next month, after a meeting where shareholders will vote on whether to agree to a $27.5 million loan from Japanese investment bank Nomura Holdings. More >>

Meat Board changes investment strategy and reserves policy

Friday, 25 May 2018, 12:30 pm | New Zealand Meat Board

The New Zealand Meat Board (NZMB) is to change its investment strategy and reserves policy following consultation. More >>

Spark to take bigger Quantum leap

Friday, 25 May 2018, 12:25 pm | BusinessDesk

May 25 (BusinessDesk) - Spark New Zealand expects annual earnings to fall by as much as 2.5 percent this year as it brings forward restructuring costs and accelerates its 'Quantum Programme' to transform the country's biggest telecommunications company ... More >>

Antipodes Wins 2018 ASB Wellington Exporter Of The Year

Friday, 25 May 2018, 12:22 pm | Wellington Chamber Of Commerce

Beauty brand Antipodes is the winner of the 2018 ASB Wellington Exporter of the Year. More >>

Survey finds New Zealand food safe to eat

Friday, 25 May 2018, 12:13 pm | Agcarm

The food we eat, how it is produced, and the residues that remain from crop protection products is dear to the hearts of many consumers. A survey released today confirms that the New Zealand diet is safe and that contaminants are very low - and mostly ... More >>

NZ dollar steady as Trump scraps North Korea summit

Friday, 25 May 2018, 11:51 am | BusinessDesk

May 25 (BusinessDesk) - The New Zealand dollar was little changed against the greenback after US President Donald Trump scrapped a planned summit with North Korean leader Kim Jong Un and the US said it was considering tariffs on imports of cars and trucks. More >>

Rabobank: Dare Not to Dairy

Friday, 25 May 2018, 11:34 am | Rabobank

Dairy alternatives are on a rise as consumers are increasingly going dairy-free, particularly when it comes to fluid ‘milk’ used on things like cereal or in coffees. More recently, biotechnology has entered the arena, brewing milk proteins through ... More >>

NZ Anti-Money Laundering Info Portal

Friday, 25 May 2018, 11:21 am | AML360

New Zealand's executive of AML360, Dr. Nicholas Gilmour, has announced the launch of amlmag.co.nz. "The online magazine provides current news and events, as well as domestic and international regulatory guidance. More >>

Money Compare a Fintech Innovation Challenge finalist

Friday, 25 May 2018, 11:08 am | NZ Compare

The team at NZ Compare are proud to announce that their latest, soon to be launched comparison website, Money Compare ( www.moneycompare.co.nz ) has been shortlisted by Paymark as a finalist in the 2018 Fintech Innovation Challenge. More >>

Ryman wins Most Trusted Brand accolade for the fourth time

Friday, 25 May 2018, 11:04 am | Ryman Healthcare

Ryman Healthcare has been named the most trusted brand in the retirement village industry for the fourth time. More >>

Harcourts scoop Most Trusted award for sixth year in a row

Friday, 25 May 2018, 10:38 am | Harcourts

Reader’s Digest has announced its Most Trusted brands for 2018, and Harcourts, New Zealand’s largest real estate brand has come out on top. Meaning that for the sixth consecutive year, New Zealanders have voted Harcourts their Most Trusted real ... More >>

Villa Maria Estate voted “Most Trusted Wine Brand”

Friday, 25 May 2018, 10:26 am | Villa Maria Estate

Villa Maria Estate has just been voted as the Reader’s Digest ‘Most Trusted New Zealand Wine Brand’ for 2018. This is the second time in the last three years the family-owned New Zealand winery has won this award. More >>

In Fisher & Paykel We Trust

Friday, 25 May 2018, 10:15 am | Fisher And Paykel

Fisher & Paykel has been awarded the 2018 Reader’s Digest 'Most Trusted Brand’ in three categories Large Kitchen Appliances, Cooking Appliances, and Laundry Appliances. More >>

Wall St declines while Treasuries, gold gain

Friday, 25 May 2018, 10:12 am | BusinessDesk

May 25 (BusinessDesk) - US Treasuries and gold rose, while Wall Street fell, as President Donald Trump cancelled a summit with North Korea’s Kim Jong Un, underpinning concern about geopolitical uncertainty as well as trade talks between the world’s largest ... More >>

Funding Boost for Astron Sustainability

Friday, 25 May 2018, 9:53 am | Astron

Astron Sustainability is to receive a funding boost to upgrade end to end local recycling solution to New Zealand. More >>

NZ exporters agree on Indian Market

Friday, 25 May 2018, 9:30 am | India Trade Alliance

Ethics and business in parallel to sport was the main talking point at the event series titled “Re-Imagining India New Zealand Relationship” through Cricket and Business Ethics, held on 23rd May,2018, by New Zealand India Trade Alliance. The ... More >>

Northpower urges safety around electricity assets

Friday, 25 May 2018, 9:27 am | Northpower

Northpower Limited is urging people to take more safety precautions around powerlines before someone is seriously injured or killed. More >>

Check in Times Slashed with Self-Service Kiosks

Friday, 25 May 2018, 9:06 am | GO Rentals

Meeting the growing demand for time-saving travel hacks is behind the introduction of self-service kiosks at GO Rentals branches, where check in times have been reduced by up to 60%. More >>

Authorisation application from Infant Nutrition Council

Friday, 25 May 2018, 9:03 am | Commerce Commission

The Commerce Commission has received an application from the Infant Nutrition Council Limited (INC) seeking authorisation for an arrangement allowing the INC to restrict its members from marketing formula products for children aged up to 12 months. More >>

Whittaker’s welcomes awards voted by NZ public

Friday, 25 May 2018, 8:57 am | Whittakers

Whittaker’s is delighted to have been named New Zealand’s Most Trusted Brand for the seventh consecutive year, and thanks the New Zealand public for their ongoing support. More >>

Former Zespri CEO joins DMS Board as Director

Friday, 25 May 2018, 8:53 am | DMS

Tauranga-based DMS, the leading kiwifruit and avocado orchard management and post-harvest operator, has announced the appointment of former Zespri International CEO Lain Jager as Board Director. More >>

HiFX Morning Update, May 25 2018

Friday, 25 May 2018, 8:48 am | HiFX

NZDUSD opens at 0.6932 (mid-rate) this morning. The Kiwi was range-bound yesterday, and without any meaningful economic or geopolitical news, price action was unable to trade outside of a 0.6905 - 0.6935 range. This was the tightest daily range of ... More >>

New Zealand’s Most Trusted Brands

Friday, 25 May 2018, 8:45 am | Readers Digest

The love affair between New Zealanders and Whittaker’s is sweet, and rich in fidelity. More >>

Loyal Power Customers Getting Ripped Off

Friday, 25 May 2018, 8:38 am | Electric Kiwi

If you haven't switched power companies in the past two years, you are probably getting ripped off, says Electric Kiwi’s chief executive, Luke Blincoe. The customer retention behaviours of the big market players only benefits those who are active about switching ... More >>

MARKET CLOSE: NZ shares up on A2 Milk rebound

Thursday, 24 May 2018, 8:30 pm | BusinessDesk

May 24 (BusinessDesk) - New Zealand shares gained as A2 Milk Co rebounded from recent selling, while Fletcher Building and Comvita fell. More >>

NZ dollar holds gains against greenback as markets fret

Thursday, 24 May 2018, 8:29 pm | BusinessDesk

May 24 (BusinessDesk) - The New Zealand dollar held its gains against the greenback in Asian trading as US dollar sentiment was dented by ongoing jitters over global trade. More >>

Commercial drone operators upbeat about outlook: survey

Thursday, 24 May 2018, 7:35 pm | BusinessDesk

May 24 (BusinessDesk) - Commercial drone operators in New Zealand are mainly occupied with filming, aerial mapping and inspections and count the real estate and construction sectors as their biggest customers, an Airways NZ survey shows More >>

Third annual ‘Investor’s Guide to the NZ Technology Sector'

Thursday, 24 May 2018, 6:44 pm | Technology Investment Network

Annual Investor’s Guide Shows New Zealand’s Early Stage Tech Companies Bolstered by Rising Domestic And Foreign Investment More >>

Resurgent Chinese visitors offset lethargic tourism sector

Thursday, 24 May 2018, 6:33 pm | BusinessDesk

May 24 (BusinessDesk) -A resurgence of Chinese visitors is a highlight for the domestic tourism sector, which economists say may be in a lull after a last year’s spike during the British and Irish Lions tour. More >>

Oceania Dairy, Yili's NZ dairy processor, grows sales

Thursday, 24 May 2018, 6:32 pm | BusinessDesk

May 24 (BusinessDesk) - Oceania Dairy, the South Canterbury-based dairy company owned by Inner Mongolia Yili Industrial Group, has continued to make products for the Chinese market in New Zealand at a loss, its 2017 accounts show. More >>

New camera calls for smartphones to stick to phone calls

Thursday, 24 May 2018, 6:27 pm | FUJIFILM

New compact camera calls for smartphones to stick to phone calls Introducing the new FUJIFILM X-T100 FUJIFILM NZ today announces its latest addition to the X Series family to bring photography back out of the smartphone. The FUJIFILM X-T100 is a ... More >>

FSC will engage constructively with regulators

Thursday, 24 May 2018, 5:28 pm | Financial Services Council

The Financial Services Council has welcomed the conduct letter from the Financial Markets Authority (FMA) and the Reserve Bank of New Zealand (RBNZ), and will engage in a transparent and constructive manner in providing the requested information. More >>

Show us you’re clean: FMA, Reserve Bank letter to insurers

Thursday, 24 May 2018, 5:26 pm | BusinessDesk

May 24 (BusinessDesk) - Life insurance companies have less than a month to come up with information to reassure regulators that misconduct being unveiled by the Hayne Royal Commission in Australia isn’t happening here - or is being addressed. More >>

Metro Performance Glass going back to basics

Thursday, 24 May 2018, 5:15 pm | BusinessDesk

May 24 (BusinessDesk) - Metro Performance Glass said earnings will be relatively unchanged this year as the company beds in its "back to basics" strategy. More >>

RBNZ needs to be more aggressive to shed gender imbalance

Thursday, 24 May 2018, 4:47 pm | BusinessDesk

May 24 (BusinessDesk) - The Reserve Bank needs to get "far more aggressive" to cast off a gender imbalance where 11 of the central bank's 13-strong executive team are men, and the proportion of women in senior roles ranks alongside some of ... More >>

ETNZ release on flawed report on NZ energy

Thursday, 24 May 2018, 4:37 pm | Energy Trusts of NZ

Supposed expert group’s report on New Zealand a mix of factual errors, unsourced ‘concerns’, and unsubstantiated insinuation More >>

Hawke’s Bay promotes region as agribusiness destination

Thursday, 24 May 2018, 4:01 pm | Business Hawke's Bay

Hawke’s Bay, 24 May 2018 - Hawke’s Bay will be flying the flag at this year’s New Zealand Agricultural Fieldays as part of a new initiative to raise the profile of the region, focus on agribusiness attraction and relocation, agribusiness investment, ... More >>

IAG New Zealand reviews repairer network

Thursday, 24 May 2018, 4:00 pm | IAG New Zealand

IAG New Zealand has reviewed its repairer network to ensure standards are consistently being met around: More >>

Rosanne Meo looks for 20-year term as Briscoe Group chair

Thursday, 24 May 2018, 3:55 pm | BusinessDesk

May 24 (BusinessDesk) - The New Zealand Shareholders' Association supported the re-election of Rosanne Meo to another term as chair of Briscoe Group - despite it being totally against the organisation’s normal governance recommendations. More >>

Feds backs practical element of new firearms test

Thursday, 24 May 2018, 3:37 pm | Federated Farmers

Federated Farmers supports changes to New Zealand’s firearms licensing, in particular the new requirement for a practical, hands-on component of testing alongside the theory. More >>

Talkin’ about a (retirement village) revolution

Thursday, 24 May 2018, 3:10 pm | ANZ Bank

They revolutionised the world in the 1960s, and now cosmopolitan Baby Boomers are revolutionising the retirement village industry, according to ANZ Bank. More >>

Metlifecare to add $180M Beachlands village

Thursday, 24 May 2018, 3:05 pm | BusinessDesk

May 24 (BusinessDesk) - Metlifecare will build a $180 million retirement village in Auckland’s Beachlands, one of the ‘greenfield’ sites the industry has been busy sewing up in the past 12 months. More >>

Funding split for climate change adaptation in question

Thursday, 24 May 2018, 2:54 pm | BusinessDesk

May 24 (BusinessDesk) - The government is considering how to fund New Zealand's adaptation to climate change, following a working group's report which recommends 21 key actions across central and local government and the private sector. More >>