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Latest Business Headlines

NZ wool prices unchanged at auction amid Chinese uncertainty

Friday, 28 August 2015, 6:04 pm | BusinessDesk

Aug. 28 (BusinessDesk) - New Zealand wool prices held steady at auction this week amid uncertainty in China, the country's largest export market for the fibre. More >>

Cavalier posts worst ever annual loss amid restructure

Friday, 28 August 2015, 5:52 pm | BusinessDesk

Aug. 28 (BusinessDesk) - Cavalier Corp reported the worst loss in its history as the carpet maker foregoes dividends and sells assets in a bid to restructure its business and return to profitability. More >>

MARKET CLOSE: Power company shares rise on yield hunt

Friday, 28 August 2015, 5:35 pm | BusinessDesk

Aug. 28 (BusinessDesk) - New Zealand shares rose as investors sought dividend-paying equities in a low interest rate environment. Electricity companies Genesis Energy, Mighty River Power and Meridian Energy advanced. More >>

NZ dollar heads for 3.1% weekly slump

Friday, 28 August 2015, 5:11 pm | BusinessDesk

NZ dollar heads for 3.1% weekly slump after early market meltdown; Jackson Hole looms More >>

Institute welcomes ‘game changing’ Reserve Bank tweak

Friday, 28 August 2015, 4:54 pm | New Zealand Property Institute

Property Institute of New Zealand Chief Executive, Ashley Church, has welcomed a recent policy change, by the Reserve Bank calling it ‘a game changer’ and ‘a massive step in the right direction’. More >>

Air NZ shares fall, analysts query capital return strategy

Friday, 28 August 2015, 4:49 pm | BusinessDesk

Aug. 28 (BusinessDesk) - Air New Zealand’s share price has dropped 16 percent in the last three months and 5.7 percent since announcing a record $327 million net profit this week and indicating a significant earnings uplift for the 2016 financial ... More >>

Air NZ shares fall, analysts query capital return strategy

Friday, 28 August 2015, 4:49 pm | BusinessDesk

Aug. 28 (BusinessDesk) - Air New Zealand’s share price has dropped 16 percent in the last three months and 5.7 percent since announcing a record $327 million net profit this week and indicating a significant earnings uplift for the 2016 financial ... More >>

Design Bank collaboration hub cuts costs, delivers solutions

Friday, 28 August 2015, 4:39 pm | Information Leadership

Information Leadership is launching Design Bank™ at the Digital Workplace conference on 31 August, where Director Sarah Heal will be challenging the ‘conventional wisdom’ about how to make the digital workplace deliver on improving productivity and organisational ... More >>

Anti-dumping consumer welfare test unfair to NZ businesses

Friday, 28 August 2015, 4:04 pm | BusinessDesk

Aug. 28 (BusinessDesk) - The government’s plans to introduce a consumer welfare test to anti-dumping laws will put local firms at a disadvantage to their foreign counterparts, according to Business New Zealand. More >>

FMA's top risks crop up in 2015 enforcement activity

Friday, 28 August 2015, 3:40 pm | BusinessDesk

Aug. 28 (BusinessDesk) - The Financial Markets Authority's top seven strategic priorities were a common theme for the regulator's enforcement activity over the past year, with governance, culture and conflicted conduct the agency's biggest problem. More >>

Innovate 2015 Grand Prize Award Winner Named

Friday, 28 August 2015, 3:36 pm | BBC

Building a business is great – but it’s even better if your success can help others. This year’s Innovate winner is on track to change the lives of thousands. More >>

Panasonic and Solarcity New Zealand Partnership

Friday, 28 August 2015, 3:26 pm | FIRST digital

Auckland, 7th July 2015 – solarcity and Panasonic have launched a national smart energy partnership to make saving money on energy even easier for Kiwis this winter. More >>

Business Awards highlight rich mix of success factors

Friday, 28 August 2015, 2:23 pm | Auckland Chamber of Commerce

Following four successful finalist functions across the Auckland region, the Auckland business community is celebrating the achievements of 75 local companies named as finalists in the Westpac Auckland Business Awards 2015. More >>

Kiwi Analytics Firm Data Insight Scoops Two Major Awards

Friday, 28 August 2015, 2:21 pm | released via Porter Novelli

Kiwi Analytics Firm Data Insight Scoops Two Major Awards at TVNZ 2015 NZ Marketing Awards More >>

Martin Aircraft posts full-year loss

Friday, 28 August 2015, 2:21 pm | BusinessDesk

Martin Aircraft posts full-year loss; on track to sell world's first commercial jetpack next year More >>

thl Financial Results for the Year to 30 June 2015

Friday, 28 August 2015, 2:16 pm | Tourism Holdings Limited

• Operating Profit Before Financing Costs and Tax (1) (EBIT) of $32 million, up 42% on prior year More >>

S&P affirms NZ's credit rating despite slowing growth

Friday, 28 August 2015, 2:14 pm | BusinessDesk

Aug. 28 (BusinessDesk) - New Zealand's credit ratings were affirmed by Standard & Poor's, which expects the government to get its finances back into surplus, even if low inflation and slowing growth make that more difficult. More >>

More talking could avoid bank-customer woes

Friday, 28 August 2015, 2:09 pm | Banking Ombudsman

A lack of good communication can be blamed for most complaints about banks, says the new head of the Banking Ombudsman Scheme. More >>

KiwiRail's operatings earnings improve despite lower freight

Friday, 28 August 2015, 2:09 pm | BusinessDesk

Aug. 28 (BusinessDesk) - KiwiRail had a much better 12 months to June 30 than a year earlier, improving its earnings before interest, tax,depreciation and asset impairments to $91 million, 17 percent ahead of the previous financial year, which was marred ... More >>

Car retailer slams lack of action on Easter trading laws

Friday, 28 August 2015, 2:08 pm | 2 Cheap Cars

One of the country’s biggest car retailers says whether its central or local government who does it, New Zealand’s Easter trading laws need to be brought into the 21st century. More >>

Diversity Awards 2015: Getting Better by Diversity

Friday, 28 August 2015, 2:03 pm | Equal Employment Opportunities Trust

For the 18th year in a row the Equal Employment Opportunities Trust is once again proud to celebrate the fantastic organisations across New Zealand who are leading the way in workplace diversity. EEO Trust Chief Executive Bev Cassidy-Mackenzie says ... More >>

NZ’s first ever Manufacturing Accelerator opens for business

Friday, 28 August 2015, 2:03 pm | Lighting Lab

The doors are open! Lightning Lab Manufacturing kicked off in Lower Hutt this week, welcoming eight hardware startups into the three month programme. The manufacturing accelerator is the fifth Lightning Lab to run since its inception in 2013, and the ... More >>

Ron Brierley rides again, builds 7.2% stake in Smiths City

Friday, 28 August 2015, 1:02 pm | BusinessDesk

Aug. 28 (BusinessDesk) - Veteran corporate investor Ron Brierley is sniffing out opportunities in Christchurch-based retail chain Smiths City, which has started closing down unprofitable stores to eke out a lift in earnings. More >>

Chapman Tripp - Brief Counsel

Friday, 28 August 2015, 12:56 pm | Chapman Tripp

The Health and Safety at Work Act has now been passed by Parliament and will come into effect on 4 April next year – five and a half years since the Pike River Mine disaster which precipitated the reform. More >>

Statement on the Aupouri Trust Board Financial Issues

Friday, 28 August 2015, 12:49 pm | Te Runanga a Iwi o Te Aupouri

Rick Witana the Chair of Te Runanga Nui o Te Aupouri, the entity set up to receive the Aupouri Treaty Settlement in coming months, welcomes the Minister of Maori Affairs appointment of a statutory manager and investigation into the financial activities ... More >>

UPDATE: Kiwibank comes of age, pays first annual dividend

Friday, 28 August 2015, 12:25 pm | BusinessDesk

Aug. 28 (BusinessDesk) - Kiwibank, the banking unit of state-owned New Zealand Post, will pay its first annual dividend after 13 years of operation, reflecting its increased size, record profits and its ability to fund its own activities. More >>

New air service a win for South Island and tourism

Friday, 28 August 2015, 12:03 pm | Tourism Industry Association New Zealand

Today’s announcement of a new air service linking Christchurch and southern China will help deliver on the tourism industry’s goal of growing total annual tourism revenue to $41 billion in by 2025, the Tourism Industry Association New Zealand (TIA) ... More >>

Inaugural New Zealand Young Winemaker crowned

Friday, 28 August 2015, 11:39 am | Kite Communications

A night of nerves, skill and finesse surrounded the all-female finalists of the inaugural Tonnellerie de Mercurey 2015 New Zealand Young Winemaker competition last night. More >>

China air services game-changer for South Island tourism

Friday, 28 August 2015, 11:38 am | Christchurch and Canterbury Tourism

Christchurch and Canterbury Tourism (CCT) says new direct air services between China and Christchurch are a significant game-changer for tourism in the South Island. CCT chief executive Tim Hunter says direct flights are likely to boost Chinese visitor ... More >>

Higher future power prices loom as generators cut gas, coal

Friday, 28 August 2015, 11:28 am | BusinessDesk

Aug. 28 (BusinessDesk) - The future wholesale price of electricity is already rising, following decisions by three of the country's electricity generators to close more than 1,000 Megawatts of installed generation capacity that uses gas and coal to run. More >>

Country’s largest annual motorhome, caravan and outdoor expo

Friday, 28 August 2015, 11:19 am | Enthuse

Country’s largest annual motorhome, caravan and outdoor expo confirms dates The dates for the country’s largest annual motorhome, caravan and outdoor expo next year, the Covi NZMCA Insurance Motorhome, Caravan & Outdoor SuperShow have been ... More >>

AECT beneficiaries to benefit from dividend increase

Friday, 28 August 2015, 11:16 am | Senate SHJ

AECT beneficiaries to benefit from dividend increase Auckland Energy Consumer Trust (AECT) beneficiaries can expect to receive an increased dividend payment of $345 in late September, the AECT has announced today. AECT Chairman, William Cairns says ... More >>

UPDATE: NZ Post flags competition, economic and GST headwind

Friday, 28 August 2015, 11:15 am | BusinessDesk

Aug. 28 (BusinessDesk) - New Zealand Post Group says it faces "structural and permanent decline" and further headwinds from increased competition, a fragile global and domestic economy and higher costs on the back of proposed introduction ... More >>

China Southern Airlines to fly between the SI and China

Friday, 28 August 2015, 11:12 am | Christchurch Airport

China Southern Airlines to fly between the South Island and China The South Island tourism industry has formed a partnership with Asia’s largest airline which will see a new year-round air service begin in December 2015. China Southern Airlines, ... More >>

Agriculture leads business profit growth in 2014

Friday, 28 August 2015, 10:52 am | Statistics New Zealand

New Zealand businesses' total operating profit before tax was up $4.1 billion (7 percent) in the 2014 financial year, Statistics New Zealand said today. More >>

Bayer Young Viticulturist of the Year 2015 Announced

Friday, 28 August 2015, 10:48 am | Young Viticulturist of the Year

Congratulations to Caleb Dennis who became the Bayer Young Viticulturist of the Year 2015 last night. Representing Hawke’s Bay, Caleb competed in a wide range of challenges over three days to eventually beat three other contestants and claim the title. This ... More >>

Hamilton motel’s 24-hour approach wins national award

Friday, 28 August 2015, 10:47 am | Automobile Association

Hamilton motel Astra Motor Lodge never sleeps. Located near Waikato Hospital the team receives calls at all hours from the Intensive Care Unit or emergency departments asking for rooms for family members. More >>

Veritas profit drops 23%, to pay smaller dividend

Friday, 28 August 2015, 10:41 am | BusinessDesk

Aug. 28 (BusinessDesk) - Veritas Investments, the food and beverage investor, posted a 23 percent drop in annual profit and will pay a smaller dividend to shareholders as it wrestles with integrating its Nosh Food Market and Better Beer Co acquisitions. More >>

Fliway pays special dividend as annual profit beats target

Friday, 28 August 2015, 10:36 am | BusinessDesk

Aug. 28 (BusinessDesk) - Fliway, the transport and logistics company that listed on the NZX in April, will pay a special dividend after posting annual profit 33 percent above its prospectus forecast mainly on lower-than-expected listing costs. More >>

Kiwibank announces strongest-ever result

Friday, 28 August 2015, 10:21 am | Kiwibank

Kiwi Group Holdings Limited (“KGH”), which includes Kiwibank Limited and associated companies involved in Wealth Management, Insurance and New Zealand Home Loans, has achieved an after tax profit of $132 million for the year ended 30 June 2015. More >>

Connections Still Important For Investment Decisions

Friday, 28 August 2015, 10:17 am | NZ Private Equity and Venture Capital Ass

Insight and foresight have a vital role to play in making the best investment decisions despite the growth of big data, a meeting hosted by the New Zealand Private Equity & Venture Capital Association (NZVCA) at the Auckland offices of Chapman Tripp ... More >>

Attitude earns top apprentice award

Friday, 28 August 2015, 10:14 am | Acumen Republic

Building apprentice Daniel van Tiel has been named the Auckland Region’s Registered Master Builders Carters 2015 Apprentice of the Year. More >>

Vector posts 2.8% gain in full-year earnings

Friday, 28 August 2015, 10:06 am | BusinessDesk

Vector posts 2.8% gain in full-year earnings as smart meters lead growth, sees further gain in 2016 More >>

NZ Post boosts profit 34% on asset sales, Kiwibank

Friday, 28 August 2015, 9:40 am | BusinessDesk

Aug. 28 (BusinessDesk) - New Zealand Post Group lifted annual profit 34 percent, booking a one-off gain from the sale of its Australian business, Couriers Please, while at home its Kiwibank unit boosted earnings. More >>

Vista boosts first-half profit 24%

Friday, 28 August 2015, 9:31 am | BusinessDesk

Aug. 28 (BusinessDesk) - Vista Group International, the cinema software and analytics firm, boosted first-half profit 24 percent as the expanded group beefed up its share of the global market and extended its reach into new territory. More >>

Kiwibank comes of age, set to pay first annual dividend

Friday, 28 August 2015, 9:30 am | BusinessDesk

Aug. 28 (BusinessDesk) - Kiwibank, the banking unit of state-owned New Zealand Post, will pay its first annual dividend after 13 years of operation, reflecting its increased size, record profits and its ability to fund its own activities. More >>

NZ Post Group making good progress in challenging conditions

Friday, 28 August 2015, 9:27 am | NZ Post

Two years into its five-year reset strategy, the New Zealand Post Group has delivered a solid result and laid important foundations for the future. More >>

FMA releases enforcement and investigations report 2015

Friday, 28 August 2015, 9:19 am | Financial Markets Authority

The Financial Markets Authority (FMA) today published its enforcement and investigations report for the year ending 30 June 2015. More >>

QJumpers and NBR Talent join forces

Friday, 28 August 2015, 9:16 am | Qjumpers

In some of the hardest recruitment conditions of the past 10 years, QJumpers has joined forces with NBR Talent to help streamline the way New Zealand companies seek fresh talent. More >>

Retiring FPH CEO Daniell says narrower focus key to success

Friday, 28 August 2015, 9:13 am | BusinessDesk

Aug. 28 (BusinessDesk) - Retiring Fisher & Paykel Healthcare boss Mike Daniell says he realised the importance of focus rather than diversifying the company's efforts about 20 years ago. More >>

MRP latest power company to declare special dividend

Friday, 28 August 2015, 9:11 am | BusinessDesk

Aug. 28 (BusinessDesk) - MightyRiverPower has become the latest electricity generator-retailer to announce a special dividend in the current earnings season, at the same time as announcing a 22 percent fall in underlying earnings after tax for the year to June ... More >>

Freightways Appoints New Director

Friday, 28 August 2015, 9:09 am | Freightways

Freightways Limited (Freightways) today announces the appointment of Mark Rushworth to the Freightways Board of Directors, with effect from 1 September 2015. More >>

Mighty River Power Annual Results for the year ended 30 June

Friday, 28 August 2015, 9:01 am | Mighty River Power

Strong cash flow supports special dividend, while operating earnings ease on record low hydro output More >>

Vector Financial Results for the Year To 30 June 2015

Friday, 28 August 2015, 8:58 am | Vector Limited

Earnings ahead of guidance as new technology and a focus on customers drives innovation at New Zealand’s largest integrated infrastructure company More >>

HiFX Morning Update, August 28 2015

Friday, 28 August 2015, 8:53 am | HiFX

The NZDUSD opens at 0.6460 (mid-rate) this morning. More >>

NZ dollar advances as commodity-linked currencies buoyed

Friday, 28 August 2015, 8:28 am | BusinessDesk

Aug. 28 (BusinessDesk) - The New Zealand dollar edged up along with other commodity linked currencies, with gains limited by a stronger US dollar buoyed by better economic data. More >>

While you were sleeping: US growth surprises

Friday, 28 August 2015, 7:53 am | BusinessDesk

Aug. 28 (BusinessDesk) - Wall Street rose after a report showing the US economy grew more than expected, Chinese equities stemmed a five-day drop, and oil soared. More >>

NZ software company ready to help with new H&S legislation

Thursday, 27 August 2015, 7:47 pm | Cameron Brewer

With the health and safety legislation now passed in Parliament, Britomart-based software company CS-VUE is putting its hand up to help the likes of big infrastructure companies and heavy industry manage and respond to their new workplace responsibilities. More >>

World’s first incontinence lingerie collection

Thursday, 27 August 2015, 7:45 pm | Confitex

Great news for all those people who are excited by the fashions they are seeing at New Zealand Fashion Week. The world’s first designer incontinence lingerie collection strutted out in style at New Zealand Fashion Week in Auckland today. More >>

MARKET CLOSE: NZ joins global rebound

Thursday, 27 August 2015, 5:33 pm | BusinessDesk

Aug. 27 (BusinessDesk) - New Zealand shares rose in a global rebound after Wall Street benchmarks rallied some 4 percent overnight. A2 Milk Co, Auckland International Airport and Metro Performance Glass clawed back from recent losses. More >>

 

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