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Latest Business Headlines

MARKET CLOSE: NZ shares rise led by NZOG; Kathmandu slides

Monday, 22 December 2014, 5:31 pm | BusinessDesk

Dec. 22 (BusinessDesk) - New Zealand shares rose, led by New Zealand Oil and Gas after it bought a cornerstone stake in ASX-listed Cue Energy. Fletcher Building and Sky Network Television advanced as dual-listed stocks followed the Australian bourse ... More >>

Supreme Court denies Terranova leave to appeal in pay case

Monday, 22 December 2014, 5:10 pm | BusinessDesk

Dec. 22 (BusinessDesk) - The Supreme Court has denied aged care provider Terranova Homes and Care, at the centre of a landmark court case paving the way for gender pay equity, leave to appeal the ruling. More >>

NZ dollar little changed in lead-up to Christmas

Monday, 22 December 2014, 5:06 pm | BusinessDesk

Dec. 22 (BusinessDesk) - The New Zealand dollar was little changed as activity ebbed in the lead-up to the Christmas-New Year break, when many local market participants tend to take holidays. More >>

Smiths City more than doubles 1H profit on insurance payment

Monday, 22 December 2014, 4:11 pm | BusinessDesk

Dec. 22 (BusinessDesk) - Smiths City Group, the Christchurch-based retail chain, more than doubled first-half profit as it recognised a $2.9 million insurance payment to help repair its flagship Colombo St store, though trading remained competitive ... More >>

Yellow's owner may be wound up, assets moved to new vehicle

Monday, 22 December 2014, 4:10 pm | BusinessDesk

Yellow's owner may be wound up, assets moved to new vehicle, before debt deadline More >>

New Strategic Direction for Restaurant Association

Monday, 22 December 2014, 4:01 pm | Restaurant Association of NZ

New Strategic Direction for Restaurant Association Auckland, 22 December 2014 – The Restaurant Association of New Zealand, the industry organisation for restaurants, cafes and other members of the hospitality sector announced that it is stepping away ... More >>

World-class entrepreneur joins ARANZ Geo Board of Directors

Monday, 22 December 2014, 3:28 pm | ARANZ

Scott Houston joins ARANZ Geo’s Board of Directors as company focuses on pushing innovation boundaries and global expansion More >>

New Business at The Landing

Monday, 22 December 2014, 2:49 pm | Southern PR

The latest to join a host of exciting new businesses at The Landing development, Queenstown, are worldwide gym sensation Snap Fitness and House of Travel. More >>

Rex Bionics stock almost halves in value after sales warning

Monday, 22 December 2014, 2:25 pm | BusinessDesk

Dec. 22 (BusinessDesk) - Rex Bionics, the local company which listed on the London Stock Exchange’s growth-orientated AIM market in May, almost halved in value last week after it warned commercial sales will take longer than expected to eventuate. More >>

Contribution to Māori Television Acknowledged

Monday, 22 December 2014, 2:05 pm | Maori Television Service

Māori Television has recognised the contribution of long serving Board member and Deputy Chair Tahu Potiki as he steps down from the Board. More >>

UPDATE: Kathmandu warns of slow Christmas trading in Aust

Monday, 22 December 2014, 1:32 pm | BusinessDesk

Dec. 22 (BusinessDesk) - Shares of Kathmandu Holdings plunged near a two-year low after the outdoor equipment retailer reported a slowdown in sales growth after a subdued start to Christmas shopping in its Australian market. More >>

Villumsen new brand ambassador for Revbox

Monday, 22 December 2014, 1:06 pm | Enthuse

Villumsen new brand ambassador for Revbox 22 December 2014 Commonwealth Games gold medallist Linda Villumsen is the new Brand Ambassador for the Revbox ERG, a stationary trainer that was launched early last year by Christchurch based European Sport Imports. More >>

ABA Delivers Improved HY Profit, Confirms Increased Dividend

Monday, 22 December 2014, 12:41 pm | Abano Healthcare Group Limited

Abano Healthcare Group (NZX:ABA) has delivered a 51% increase in half year profit and confirmed an increased interim dividend payment of 10 cents per share, up 37% on the previous year. More >>

Final liability allocation for telecommunications providers

Monday, 22 December 2014, 12:37 pm | Commerce Commission

The Commerce Commission has released its final decision confirming how much 22 telecommunications providers will pay towards the $50 million Telecommunications Development Levy (TDL) for 2013/14. More >>

Commission concludes plasterboard investigation

Monday, 22 December 2014, 12:25 pm | Commerce Commission

The Commerce Commission has completed its investigation into allegations that Winstone Wallboards Limited (a subsidiary of Fletcher Building) acted anti-competitively to maintain its market position in the manufacture and supply of plasterboard. More >>

Kiwi Property NZX Announcements

Monday, 22 December 2014, 12:13 pm | Kiwi Income Property Trust

Please find attached a copy of our announcements which have been released by the NZX this morning. More >>

Interim Report 2015

Monday, 22 December 2014, 12:08 pm | Fisher And Paykel Healthcare

Interim Report 2015 Fisher & Paykel Healthcare Corporation Limited has released its Interim Report for the six months ended 30 September 2014. The report is available online at or you can click ... More >>

Councils must change attitude and culture to address housing

Monday, 22 December 2014, 12:05 pm | Property Council Of New Zealand

District planning rules must consider the economic feasibility of development while addressing land for housing More >>

Holiday parks looking forward to peak season

Monday, 22 December 2014, 11:53 am | Holiday Accommodation Parks Assn of NZ

Holiday parks are gearing up for their busiest weeks of the year and many are expecting to be busier than ever. More >>

Let’s not forget about the far South this festive season

Monday, 22 December 2014, 11:18 am | NZ Post Group

At this time of year the spotlight is firmly on the North Pole and it’s most famous resident Santa Claus, but spare a thought for approximately 85 people braving the freezing temperatures at Scott Base, New Zealand's permanent research support station ... More >>

Sony announces pricing for new Smartwear Experience

Monday, 22 December 2014, 11:13 am | Sony New Zealand Limited

SmartWear Experience is Sony’s vision for smart, wearable technology founded on three principles: lifelogging, flexible style and intelligent notifications, available just in time for Christmas. More >>

Fairfax to raise about A$96M in Australian radio deals

Monday, 22 December 2014, 11:10 am | BusinessDesk

Fairfax to raise about A$96M selling 96FM to APN, merging radio assets with Macquarie More >>

FMA welcomed onto global forum for independent oversight

Monday, 22 December 2014, 11:09 am | Financial Markets Authority

The Financial Markets Authority (FMA) has been accepted on to the International Forum of Independent Audit Regulators (IFIAR), in recognition of the robust oversight system the FMA has established in New Zealand. IFIAR was established in 2006 by independent ... More >>

Ecostore Expands into South Korea

Monday, 22 December 2014, 11:07 am | Schuck PR

22 December 2014 - Auckland, New Zealand - ecostore has signed a deal that will see them exporting into South Korea. The New Zealand company recently made headlines by being the only manufacturer in the world to convert all its proprietary bottles ... More >>

Beef + Lamb New Zealand Director Elections

Monday, 22 December 2014, 11:06 am | Beef And Lamb NZ

Nominations have now closed for two farmer-elected positions on the Beef + Lamb New Zealand board. More >>

Spark New Zealand amps up nationwide holiday coverage

Monday, 22 December 2014, 10:58 am | Spark

Media release 22 December 2014 Spark New Zealand amps up nationwide holiday coverage With the holidays almost upon us, Spark New Zealand has put the finishing touches on its biggest ever series of mobile capacity upgrades to over 250 holiday spots ... More >>

Vega Appoints Former Tait Exec as CEO

Monday, 22 December 2014, 10:56 am | Vega

Arjen Maarleveld, former Global Operations Manager for Tait Communications, has joined Vega as the new Chief Executive Officer for the Wellington-based company. More >>

Kiwi Property buys Apex Mega Centre for $64 mln

Monday, 22 December 2014, 10:38 am | BusinessDesk

Dec. 22 (BusinessDesk) - Kiwi Property Group, formerly Kiwi Income Property Trust, has agreed to buy Apex Mega Centre for $64 million as it expands its retail footprint. More >>

Oil spill response at Marsden Point

Monday, 22 December 2014, 10:38 am | The New Zealand Refining Company

Oil spill response at Marsden Point Oil that had spilled into Whangarei Harbour yesterday afternoon from the crude oil tanker HS Alcina has been confirmed as coming from her bunker (fuel) tanks. The spill was discovered at approximately 4pm yesterday and ... More >>

Vector wants you to stay safe this summer

Monday, 22 December 2014, 10:32 am | Vector

Summer only comes once a year and we want you to enjoy every minute of it. Stay safe and have some fun in the sun with these safety tips. More >>

Kathmandu warns of slow Christmas trading in Australia

Monday, 22 December 2014, 10:31 am | BusinessDesk

Dec. 22 (BusinessDesk) - Kathamandu Holdings, the outdoor equipment retailer, has reported a slowdown in sales growth after a subdued start to Christmas shopping in its Australian market. The shares fell to a 16-month low. More >>

NZ consumer confidence dips on grimmer dairy forecast

Monday, 22 December 2014, 10:12 am | BusinessDesk

Dec. 22 (BusinessDesk) - New Zealand consumer confidence fell in the fourth quarter, particularly in rural and provincial areas as prospects for a low dairy payout take their toll despite falling petrol prices and lower mortgage rates. More >>

DNZ's Westgate two plans opposed by former landowner

Monday, 22 December 2014, 9:56 am | BusinessDesk

Dec. 22 (BusinessDesk) - DNZ Property Fund's plans to further expand its Westgate Mall into land opposite the site are being opposed by former landowner Westgate Town Centre Limited, which disputed the listed property investor's right to the development. More >>

NZ Oil & Gas buys 19.99% of Cue Energy from Todd for A$14M

Monday, 22 December 2014, 9:49 am | BusinessDesk

NZ Oil & Gas buys 19.99% of Cue Energy from Todd for A$13.96 mln More >>

PGG Wrightson reaffirms 2015 earnings growth

Monday, 22 December 2014, 9:28 am | BusinessDesk

Dec. 22 (BusinessDesk) - PGG Wrightson, the rural services firm controlled by China's Agria Corp, has affirmed expectations for earnings growth in 2015 but is seeing "signs of softness" after Fonterra Cooperative Group cut its forecast farm gate payout. More >>

GPG gets warning notice over Coats pension scheme

Monday, 22 December 2014, 9:24 am | BusinessDesk

Dec. 22 (BusinessDesk) - Guinness Peat Group has received a warning notice over its Coats Pension Plan from the UK Pensions Regulator over the level of support for the superannuation scheme, which looks set to further delay its transition to the UK ... More >>

NZ regulator clears Fletcher of anti-competitive behaviour

Monday, 22 December 2014, 9:21 am | BusinessDesk

Dec. 22 (BusinessDesk) - The Commerce Commission says it found no evidence that Fletcher Building's Winstone Wallboards unit engaged in anti-competitive behaviour to protect its dominant position in the plasterboard market. More >>

Abano lifts 1H profit 51% as dental revenue grows

Monday, 22 December 2014, 9:19 am | BusinessDesk

Dec. 22 (BusinessDesk) - Abano Healthcare, the listed healthcare investor, boosted first-half profit 51 percent on increased revenue from its dominant dental business and a turnaround at its unprofitable audiology businesses. More >>

NZ dollar edges up as yields remain attractive

Monday, 22 December 2014, 8:57 am | BusinessDesk

Dec. 22 (BusinessDesk) - The New Zealand dollar edged up against the greenback as traders seek higher yielding assets heading into the New Year after the Swiss National Bank signalled plans last week to cut its deposit rate to negative, spurring demand ... More >>

World Week Ahead: Fed-inspired cheer

Monday, 22 December 2014, 7:42 am | BusinessDesk

Dec. 22 (BusinessDesk) - US Federal Reserve policy makers have helped renew optimism in global equities with their promise to be patient on raising interest rates, triggering a late Santa rally as Christmas approaches. More >>

Martin Jetpack reviews ASX listing as Chinese investor commi

Friday, 19 December 2014, 7:13 pm | BusinessDesk

Dec. 19 (BusinessDesk) - New Zealand jetpack maker, Martin Aircraft Co, has secured more than twice the $25 million funding it has been seeking in a proposed initial public offering on the Australian Stock Exchange to commercialise its single person ... More >>

MARKET CLOSE: NZ shares follow global rally, led by Fletcher

Friday, 19 December 2014, 6:38 pm | BusinessDesk

Dec. 19 (BusinessDesk) - New Zealand shares joined in a global rally which started on Wall Street and continued into Asia, paced by firms with substantial trans-Tasman business including Fletcher Building, TrustPower and Ebos Group. More >>

InterContinental Hotels follows in footsteps of Lady Gaga

Friday, 19 December 2014, 5:32 pm | Crowne Plaza Queenstown

InterContinental Hotels Group follows in footsteps of Lady Gaga with interactive social media platform Shuttlerock More >>

NZ dollar at 11-month high vs. Aussie dollar

Friday, 19 December 2014, 5:32 pm | BusinessDesk

Dec. 19 (BusinessDesk) - The New Zealand dollar rose to an 11-month high against its trans-Tasman counterpart as investors weigh up the competing attempts by the neighbouring central banks try and talk their respective currencies lower in a market ... More >>

Tender for sale of Health Precinct property

Friday, 19 December 2014, 5:29 pm | Christchurch Central Development Unit

Progress in the Health Precinct has taken a significant step forward as the Crown releases a Request for Tender for the purchase of the property at 36-44 Oxford St, says Christchurch Central Development Unit director Warwick Isaacs. More >>

New building for Tetra Pak at Waikato Innovation Park

Friday, 19 December 2014, 5:25 pm | Waikato Innovation Park

Waikato Innovation Park has signed an agreement with existing tenant, Tetra Pak, to construct a custom-built national headquarters on its Hamilton East campus. The new building will be the fourth constructed on the Park’s campus since it opened ... More >>

NetHui 2015: Save the date

Friday, 19 December 2014, 5:18 pm | InternetNZ

New Zealand's favourite Internet event will take place at SkyCity in Auckland on July 8-10 and once again .the call has gone out to the Internet community for ideas on how to make this the best NetHui yet. More >>

Renewable electricity generation continues to rise

Friday, 19 December 2014, 5:16 pm | Ministry of Business Innovation and Employment

The Ministry of Business, Innovation and Employment (MBIE) today published the September quarter 2014 edition of the New Zealand Energy Quarterly. More >>

NZICC will benefit all of New Zealand

Friday, 19 December 2014, 5:12 pm | Conventions and Incentives NZ

The New Zealand International Convention Centre (NZICC) will have a positive economic impact that extends far beyond the boundaries of Auckland, says New Zealand’s business events industry association. More >>

Infant formula body applauds new export labelling standard

Friday, 19 December 2014, 4:45 pm | Infant Nutrition Council

The Infant Nutrition Council applauds the implementation of a new standard for the labelling of infant formula exports from New Zealand, says Chief Executive Jan Carey. More >>

LPC finalises purchase OF Rolleston inland hub site

Friday, 19 December 2014, 4:25 pm | Lyttelton Port of Christchurch

Lyttelton Port of Christchurch (LPC) has today (19 December) finalised purchase of a 27-hectare site in Jones Road, Rolleston, for the development of an inland hub. More >>

Quality wines rise to the top

Friday, 19 December 2014, 3:35 pm | Mills Reef Winery

Mills Reef Winery is celebrating exceptional success in a massive Australasian wine challenge that involved the tasting of 10,000 wines, coming away with three of its wines in the resulting Top 40 Best Buy list. More >>

Auckland convention centre cost jumps by a fifth

Friday, 19 December 2014, 3:14 pm | BusinessDesk

Dec. 19 (BusinessDesk) - SkyCity Entertainment Group, the casino and hotel operator, is in talks with the government on how to fund the increased cost of as much as $130 million to build an international convention centre in downtown Auckland, with further ... More >>

Tweaked Connor bid clears Acurity takeover

Friday, 19 December 2014, 3:08 pm | BusinessDesk

Dec. 19 (BusinessDesk) - The Commerce Commission has signed off a takeover bid for Acurity Health Group by its three biggest shareholders after tweaks to the holding company ownership structure soothed the competition regulator's concerns the deal ... More >>

Kiwis take to technology to beat the Christmas rush

Friday, 19 December 2014, 3:03 pm | Colmar Brunton

With the Christmas shopping rush in its final week, new research confirms that Kiwis are increasingly more reliant on technology to shop and are even becoming less resistant to the idea of contactless payment using a mobile phone. More >>

Tourism NZ endorses NZ International Convention Centre

Friday, 19 December 2014, 2:51 pm | Tourism New Zealand

Tourism New Zealand (TNZ) says that today’s application for resource consent for the New Zealand International Convention Centre (NZICC) is great news for the tourism industry. More >>

Tourism operators can help keep visiting drivers safe

Friday, 19 December 2014, 2:48 pm | Tourism Industry Association

Tourism operators around the country are being asked to play their part in a campaign to improve safety for visiting drivers this summer. More >>

SKYCITY provides progress update on NZICC project

Friday, 19 December 2014, 2:46 pm | SKYCITY

SKYCITY Entertainment Group, with the agreement of the Crown, is today lodging a resource consent application for the New Zealand International Convention Centre (NZICC). More >>

Spectacular flythrough reveals first glimpses inside NZICC

Friday, 19 December 2014, 2:45 pm | SKYCITY

Stunning imagery of the New Zealand International Convention Centre (NZICC), including the first glimpses inside the building, has been released today by SKYCITY Entertainment Group. More >>

Star studded line up for its Summer of Food and Wine Series

Friday, 19 December 2014, 2:37 pm | Trinity Hill

Trinity Hill Winery announces a star studded line up for its Summer of Food and Wine Series More >>


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