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Latest Business Headlines

MARKET CLOSE: NZ shares fall

Friday, 9 December 2016, 9:12 pm | BusinessDesk

Dec. 9 (BusinessDesk) - New Zealand shares fell, led lower by Spark New Zealand and Scales Corp, while Orion Health Group rose from its record low. More >>

NZ dollar at 18-month high vs euro on ECB extension

Friday, 9 December 2016, 9:11 pm | BusinessDesk

NZ dollar at 18-month high vs euro on ECB extension, seen weaker as yield premium shrinks More >>

Cooks doubles 1H loss, seeks equity to fund Chinese growth

Friday, 9 December 2016, 9:09 pm | BusinessDesk

Dec. 9 (BusinessDesk) - Cooks Global Foods, which owns the master franchise rights for the Esquires Coffee chain outside New Zealand and Australia, doubled its first-half loss and says it's in negotiations with its Chinese shareholders about raising equity ... More >>

Anadarko drops offshore oil prospect, still 'committed to NZ

Friday, 9 December 2016, 9:08 pm | BusinessDesk

Dec. 9 (BusinessDesk) - Texas-based oil and gas explorer and producer Andarko has joined a string of other oil majors in dropping an exploration licence in lightly explored offshore areas of New Zealand, although continues to hold interests in two ... More >>

Tatua Appoints New CEO

Friday, 9 December 2016, 5:37 pm | Tatua Co-operative Dairy Company Ltd

On Thursday 8 December 2016, the same day as its Annual General Meeting, The Tatua Co-operative Dairy Company Ltd announced the appointment of Brendhan Greaney to the position of Tatua Chief Executive Officer. More >>

BurgerFuel narrows 1H loss, plans to buy more stores

Friday, 9 December 2016, 5:36 pm | BusinessDesk

Dec. 9 (BusinessDesk) - Burger Fuel Worldwide narrowed its first-half loss and says it wants to buy more stores and is still looking to expand into the US though its sales and option and collaboration agreements with investor Franchise Brands have ... More >>

Statistics New Zealand update for 9 December 2016

Friday, 9 December 2016, 5:14 pm | Statistics New Zealand

Statistics NZ's website has been partially restored, following the 7.8 earthquake on 14 November 2016. More >>

Atkins Ranch gains full non-GMO accreditation in US

Friday, 9 December 2016, 4:41 pm | Atkins Ranch

New Zealand’s Atkins Ranch is the first lamb exporter in the world to gain full non-GMO accreditation in America through the non-GMO project. More >>

Supply-driven global meat markets to put pressure on prices

Friday, 9 December 2016, 4:26 pm | Rabobank

Consumers are set to benefit from downward pressure on global meat prices during 2017, according to Rabobank, the leading food and agribusiness bank. More >>

Stephen Theobald, a local hero

Friday, 9 December 2016, 4:19 pm | Harcourts

Years of service in the fire service and decades as the local “go to” person for anyone needing a helping hand, has led Stephen Theobald to be recognised as a Kiwibank Local Hero 2017. More >>

Leighs Construction - Associate Partner of the Highlanders

Friday, 9 December 2016, 3:32 pm | Leighs Construction Ltd

Leighs Construction Limited is exciting to be kick starting the New Year as Associate Partner of The Highlanders, further reinforcing the leading commercial construction company’s commitment to and huge support for the Otago region. More >>

Is whitebaiting sustainable?

Friday, 9 December 2016, 3:22 pm | Science Media Centre

As the whitebait season drew to a close around much of the country last week, some regions were reporting 'lacklustre' catch. More >>

NZ credit, debit card spending falls in November

Friday, 9 December 2016, 3:12 pm | BusinessDesk

Dec. 9 (BusinessDesk) - New Zealand retail spending on electronic cards fell in November, snapping two consecutive months of gains, amid disruption from the Kaikoura earthquake. More >>

Cooks in talks to raise new equity

Friday, 9 December 2016, 3:08 pm | Cooks Global Foods

Cooks Global Foods (NZAX:CGF) today announces it is in the advanced stage of negotiations with its Chinese shareholders Jiajiayue Holding Group Limited (JJY, formerly known as Shandong Jiajiayue Investment Holding Co. Limited) and Yunnan Metropolitan Construction ... More >>

Stop calling KiwiSaver suspension a 'holiday' - Commissioner

Friday, 9 December 2016, 3:01 pm | BusinessDesk

Dec. 9 (BusinessDesk) - The right to suspend payments to KiwiSaver schemes should be reduced from five years to one and the so-called 'contributions holiday' should be renamed a 'savings suspension' to "remove the positive connection with a ... More >>

Shortlist for next phase of redevelopment announced

Friday, 9 December 2016, 2:52 pm | Tamaki Regeneration Company

Tāmaki Regeneration Company (TRC) has received a great response to its Large Scale Development opportunity. More >>

Ex-AT staffer and supplier found guilty over bribes

Friday, 9 December 2016, 2:43 pm | BusinessDesk

Dec. 9 (BusinessDesk) - Two men have been found guilty over more than $1 million of fraud at Rodney District Council and Auckland Transport. More >>

Potato industry further strengthen biosecurity partnership

Friday, 9 December 2016, 2:40 pm | Potatoes New Zealand

Potatoes New Zealand Inc. (PNZ) today signed an agreement with Government to better protect the potato industry it represents in managing biosecurity. More >>

Nominations open for Beef + Lamb NZ governance roles

Friday, 9 December 2016, 2:37 pm | Beef And Lamb NZ

Beef + Lamb New Zealand is seeking nominations for two farmer director positions and a role on the organisation’s Independent Board Remuneration Committee. More >>

Mercer sells 130.8M shares to fund acquisition

Friday, 9 December 2016, 2:31 pm | BusinessDesk

Dec. 9 (BusinessDesk) - Mercer Group, the unprofitable stainless steel fabricator, has issued 130.8 million new shares at 1 cent each to fund its purchase of the assets and business of Hastings-based Haden & Custance. More >>

NZ wool prices fall at weekly auction

Friday, 9 December 2016, 2:28 pm | BusinessDesk

Dec. 9 (BusinessDesk) - New Zealand wool prices fell at the latest weekly auction as more bales than expected were offered for sale. More >>

Samsung’s Family Hub ‘Smart Fridge’ Launches in NZ

Friday, 9 December 2016, 2:13 pm | Samsung

New Family Hub refrigerator features a built in WiFi enabled touchscreen that lets you manage groceries and connect with your family like never before More >>

NZs only online funeral services directory launched

Friday, 9 December 2016, 2:10 pm | Celebrate Me

Celebrate Me introduces New Zealand’s sole online funeral services directory everyone’s life deserves to be celebrated More >>

Kiwi kids’ attitude to money stems from home

Friday, 9 December 2016, 2:01 pm | FoxPlan Limited

This week 120 Wellington school students graduated from their ‘financial fitness’ boot camp with a new perspective on how to manage money and make it work for them, but financial planning expert says financial literacy is not commonplace in New Zealand ... More >>

Winter sun for South Islanders– Christchurch to Rarotonga

Friday, 9 December 2016, 1:54 pm | Christchurch Airport

South Islanders wanting sun next winter can book direct flights from Christchurch to Rarotonga right now for next winter. More >>

NZ Orange Roughy Gets Top International Sustainability Tick

Friday, 9 December 2016, 1:44 pm | Seafood New Zealand

New Zealand’s three largest orange roughy fisheries have been certified as meeting the international gold standard for sustainable fishing by the Marine Stewardship Council (MSC) ( MSC release ). More >>

Beware financial crime this festive season

Friday, 9 December 2016, 1:39 pm | New Zealand Bankers' Association

As New Zealanders prepare to go on their summer holidays the New Zealand Bankers’ Association cautions people to watch out for financial crime. More >>

Property Managers Group raises $44 million in five weeks

Friday, 9 December 2016, 1:31 pm | Property Managers

TAURANGA – December 9 - Today property and fund manager, Property Managers Group, closed its largest combined offer, raising over $44 million in five weeks across two of its managed investment portfolios, Pacific Property Fund Limited and PMG Direct ... More >>

Out of date websites costing New Zealand businesses

Friday, 9 December 2016, 1:30 pm | E9

Businesses could be missing out on half of the e-commerce they are due because their websites haven’t been updated for internet browsers on smartphones and tablets. If their core business is e-commerce this can be a substantial amount of business. More >>

Maintaining peat performance

Friday, 9 December 2016, 1:26 pm | Waikato Regional Council

Proper management of peat soils in the Waikato region is a crucial issue for both the profitability of farming and environmental protection, particularly as we head into summer. More >>

Century 21 opens four new offices

Friday, 9 December 2016, 12:58 pm | Century 21 Real Estate

Four new Century 21 New Zealand offices have had their official openings, with Century 21 National Manager Geoff Barnett saying the company is looking forward to further franchise openings next year. More >>

Massive Global Potential For Kiwi Invention

Friday, 9 December 2016, 12:52 pm | Venturevoip

‘The Moderator’ is an ingenious electronic chip that solves the age-old problem of having to change the volume constantly when watching a TV programme, film or streaming music. More >>

Eastland Group to electrify 75 percent of fleet by 2019

Friday, 9 December 2016, 12:44 pm | Eastland Group

Eastland Group has announced a commitment to ensuring its non-commercial vehicle fleet is 75 percent electric by 2019. More >>

Court Finds Parker Pirates Liable

Friday, 9 December 2016, 12:40 pm | Sky Television

SKY and Duco confirmed today that SKY has obtained judgment against seven individuals who unlawfully streamed the Parker v Haumono fight. More >>

Chinese group sets out Airwork offer to shareholders

Friday, 9 December 2016, 12:13 pm | BusinessDesk

Dec. 8 (BusinessDesk) - Zhejiang Rifa Holding Group has set out its bid for a partial takeover of Airwork Holdings, the Auckland-based aircraft services business, telling shareholders that it will seek to grow Airwork's presence in emerging markets such ... More >>

MBIE 'well short' on payroll issue with no end date in sight

Friday, 9 December 2016, 12:10 pm | BusinessDesk

Dec. 8 (BusinessDesk) - David Clark, Labour's spokesperson for economic development, says he's "very concerned" about the performance of the Ministry for Business, Innovation and Employment after an audit, with the holiday payroll issue still hanging ... More >>

NZ dollar rises to 18-month high vs euro

Friday, 9 December 2016, 12:09 pm | BusinessDesk

Dec. 9 (BusinessDesk) - The New Zealand dollar rose to an 18-month high against a broadly weaker euro after the European Central Bank extended its asset purchase programme by nine months and signalled it wasn't about to exit the market. More >>

Support for tourism but some concerns

Friday, 9 December 2016, 12:07 pm | Tourism New Zealand

New Zealanders generally feel positive about the fast-growing tourism industry, according to the latest research by Tourism Industry Aotearoa and Tourism New Zealand. More >>

NZ Banks now lending on income over equity

Friday, 9 December 2016, 12:03 pm | LoanPlan Mortgages and Finance

While your house may be worth a fortune, it’s now harder than ever to convert property assets into cash because New Zealand’s major banks are assessing mortgage and loan applications against income over equity. More >>

Bar Is Set High and Risk for Disappointment Remain High

Friday, 9 December 2016, 11:58 am | ThinkMarkets

As we head towards the last meeting of the ECB, the risk of a disappointment is really high. The market is expecting another jolt of life from the president of the ECB and if he fails to provide one, the outcome could be bloody. More >>

Villa Maria launches wine helpline

Friday, 9 December 2016, 11:39 am | Villa Maria Estate

Do you have a burning wine related question? New Zealand’s most awarded winery launches #VillaMariaHelpline service to help Kiwis with their wine queries when it comes to pairing or gifting during the festive season. More >>

Pinot Noir NZ 2017 Sold Out

Friday, 9 December 2016, 11:24 am | Pinot Noir New Zealand

The sold out sign has gone up on one of New Zealand’s most significant wine events: Pinot Noir NZ 2017. The celebration, which attracts the world’s greatest wine minds and palates to Wellington from 31st January until 2nd February 2017, is at capacity ... More >>

While you were sleeping: ECB extends asset purchases

Friday, 9 December 2016, 10:56 am | BusinessDesk

Dec. 9 (BusinessDesk) - Wall Street climbed to fresh records as optimism about the outlook for the US economy prevailed, while European Central Bank President Mario Draghi announced an extension of the central bank’s quantitative easing program. More >>

Quiet month in card spending

Friday, 9 December 2016, 10:55 am | Statistics New Zealand

Total retail spending using electronic cards was $5.2 billion in November 2016, up $254 million (5.1 percent) from November 2015, Statistics New Zealand said today. The largest increase came from the consumables industry, up $101 million (5.8 percent. More >>

NZ dollar gains to month-high vs greenback

Friday, 9 December 2016, 10:53 am | BusinessDesk

Dec. 8 (BusinessDesk) - The New Zealand dollar rose to month highs against the greenback and the Australian dollar after Reserve Bank Governor Graeme Wheeler said he sees "continued strong growth" in the economy, a sentiment backed up today with ... More >>

Hellaby hints at possible breakup on its own terms

Friday, 9 December 2016, 10:51 am | BusinessDesk

Dec. 8 (BusinessDesk) - Hellaby Holdings, which is engaged in a battle to fend off unwanted suitor Bapcor, has told shareholders it could move to break up the company to realise shareholder value. More >>

UPDATE: ANZ's UDC finance unit posts record profit

Friday, 9 December 2016, 10:47 am | BusinessDesk

Dec. 8 (BusinessDesk) - ANZ Bank New Zealand's UDC finance unit has posted a record annual profit, driven by booming car sales and strong growth in forestry, transport and construction. More >>

While you were sleeping: ECB extends asset purchases

Friday, 9 December 2016, 7:54 am | BusinessDesk

Dec. 9 (BusinessDesk) - Wall Street climbed to fresh records as optimism about the outlook for the US economy prevailed, while European Central Bank President Mario Draghi announced an extension of the central bank’s quantitative easing program. More >>

UDC posts record profit despite interest margin fall

Thursday, 8 December 2016, 5:38 pm | BusinessDesk

Dec. 8 (BusinessDesk) - ANZ Bank New Zealand's UDC finance unit has posted a record annual profit, driven by booming car sales and strong growth in forestry, transport and construction. More >>

T’is the Season to be Jolly….Confused

Thursday, 8 December 2016, 5:34 pm | Spirits New Zealand

OPINION: Last weekend’s National Crate Day exhorted drinkers to celebrate the first day of summer by ‘getting on it’ with friends and, of course, a crate. Not necessarily the best start to summer if your intention was to drink an entire crate in one sitting. More >>

Bapcor refuses to allow dividend in addition to offer price

Thursday, 8 December 2016, 5:00 pm | Hellaby Holdings

Hellaby Holdings Limited (NZX: HBY) has been advised today by the Takeovers Panel that, as a result of Bapcor’s public statements, the offer price of $3.60 per share is a ‘last and final’ offer price which, under the Takeovers Code, cannot now ... More >>

Spending wins over tax cuts; big ticket items get boost

Thursday, 8 December 2016, 4:55 pm | BusinessDesk

Dec. 8 (BusinessDesk) - Income tax cuts are on hold as the government says “responding to the earthquakes and reducing debt are currently of higher priority”, although election year tax sweeteners remain possible. More >>

NZ government to spend more as economy accelerates

Thursday, 8 December 2016, 4:52 pm | BusinessDesk

Dec. 8 (BusinessDesk) - The New Zealand government has earmarked an extra $2.1 billion for capital spending in its election-year budget as it benefits from a stronger forecast track of economic growth in the next few years that will swell its tax take. More >>

English cites 'strong support', won't name preferred deputy

Thursday, 8 December 2016, 4:49 pm | BusinessDesk

Dec. 8 (BusinessDesk) - Finance Minister Bill English says he is "finding strong support in the caucus” for his bid to replace John Key as Prime Minister next Monday after Key unexpectedly announced his resignation and departure from politics on Monday. More >>

Health and Safety isn’t the Christmas Grinch

Thursday, 8 December 2016, 4:21 pm | WorkSafe NZ

Myths continue to abound about how health and safety is stopping New Zealanders from doing all the fun things they used to do. More >>

Northland power outage - update 4pm 8/12/16

Thursday, 8 December 2016, 4:19 pm | Vodafone

Transpower is continuing to work to restore power to all affected regions of Northland. As mains power is being restored, Vodafone technicians are working on cell sites in each of these regions to switch them over from back-up generators, to mains power, ... More >>

New App Makes it Simple for Tourists to Buy More NZ Wine

Thursday, 8 December 2016, 4:16 pm | WineCaseNZ

NEW APP SET TO INCREASE SALES OF NEW ZEALAND’S BEST WINES WITH GLOBAL DELIVERY More >>

Fonterra total payout this year likely to be $6.40/kgMS

Thursday, 8 December 2016, 4:13 pm | BusinessDesk

Dec. 8 (BusinessDesk) - Fonterra Cooperative Group has told shareholders at its annual meeting in Darfield today that the indicative payout level to its 10,500 farmer suppliers this season will be $6.40 per kilogram of milk solids. More >>

Conservation trust seeks tenant for dairy farm

Thursday, 8 December 2016, 4:05 pm | Bayleys

The Isaac Conservation and Wildlife Trust seeks a tenant for the 80 hectare dairying operation in McLeans Island Road, Harewood – directly opposite Harewood Golf Course. The lease marketing campaign is being undertaken by Bayleys Canterbury, with tenders ... More >>

Mixed Results For Wool

Thursday, 8 December 2016, 3:50 pm | New Zealand Wool Services International

New Zealand Wool Services International Ltd’s CEO Mr John Dawson reports that the North Island auction comprising 9400 bales, which was 2000 bales above anticipated roster, saw a 93 percent clearance with a continuation of targeted buying. With price ... More >>

 

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