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Latest Business Headlines

NZD gains after failing to break through support levels

Wednesday, 1 June 2016, 5:36 pm | BusinessDesk

NZ dollar gains after failing to break through support levels, helped by terms of trade, Aussie GDP More >>

Labour's tests for govt's urban planning directive

Wednesday, 1 June 2016, 5:33 pm | BusinessDesk

The government's imminent National Policy Statement with new directions for urban planning must deal with infrastructure financing and avoid encouraging speculation in undeveloped land, says Labour's housing spokesman, Phil Twyford. More >>

Kiwi start-ups seek investors at R9 Accelerator Demo Day

Wednesday, 1 June 2016, 5:07 pm | R9 Accelerator

Seven Kiwi start-up teams will pitch their business cases to an audience of public and private sector investors and supporters in a quick fire programme for R9 Accelerator Demo Day this Thursday 2 June. More >>

Brilliance Steel allowed to sell steel mesh again

Wednesday, 1 June 2016, 4:44 pm | BusinessDesk

June 1 (BusinessDesk) - Brilliance Steel, one of three companies involved in a Commerce Commission investigation into testing of ductile steel products, has reached an interim agreement with the regulator to resume sales provided the products pass independent ... More >>

G3 Group's major shareholders likely to sell down

Wednesday, 1 June 2016, 4:44 pm | BusinessDesk

June 1 (BusinessDesk) - The biggest shareholders in G3 Group are likely to sell some of their holdings when restrictions lift in November putting the NXT-listed mail operations and document manager back in compliance with listing rules if it hasn't ... More >>

ExxonMobil NZ reports narrower loss in 2015

Wednesday, 1 June 2016, 4:41 pm | BusinessDesk

June 1 (BusinessDesk) - The New Zealand division of ExxonMobil, the world's largest publicly traded international oil and gas company, narrowed its 2015 loss even as revenue dropped 15 percent and the company spent more on refinery fees. More >>

Commission lifts ‘stop’ on Brilliance Steel’s steel mesh

Wednesday, 1 June 2016, 4:41 pm | Commerce Commission

The Commerce Commission has lifted its advice to Brilliance Steel Limited (Brilliance) not to sell ductile steel mesh represented as grade 500E after reaching an interim agreement. More >>

A New Property Insights Solution Empowers Kiwis

Wednesday, 1 June 2016, 4:24 pm | myvalocity

New Zealand’s first nationwide, Kiwi owned property insights platform is set to revolutionize the way we buy and sell houses More >>

Fonterra Management Appointments

Wednesday, 1 June 2016, 4:23 pm | Fonterra Co-operative Group Ltd

Fonterra Co-operative Group Limited today announced new appointments for two of its senior leaders. More >>

Best snow in years – Mt Hutt to open with all lifts

Wednesday, 1 June 2016, 4:14 pm | Mt Hutt Ski Area

Best snow in years – Mt Hutt to open with all lifts Canterbury’s Mt Hutt ski area is revelling in the white stuff – with a one-metre pre-season snow base being described as “the best in years”. Two snowstorms in the past four days have delivered ... More >>

No More Need for Written Signatures on Tax Returns

Wednesday, 1 June 2016, 4:10 pm | Xero

WELLINGTON, 1st June 2016 - The passing of legislation that will allow Inland Revenue to accept electronic signatures will free up accountants and others from an outdated system. More >>

Pumpkin Patch shares extend slump, down 9% in trading

Wednesday, 1 June 2016, 4:09 pm | BusinessDesk

June 1 (BusinessDesk) - Shares in the struggling childrenswear retailer Pumpkin Patch have dropped by 9 percent in trading, following similar sharp falls last week. More >>

Mahana Estates takes a stand against ‘paid for’ reviews

Wednesday, 1 June 2016, 3:36 pm | Mahana Winery

Mahana Estates and its winemaker Michael Glover are taking a stand against the practise of ‘paid for’ reviews in the interest of transparency for wine consumers. More >>

Importers Of Materials Need To Do Their Due Diligence

Wednesday, 1 June 2016, 3:35 pm | IANZ

The latest case of poor quality steel shows why importers and construction companies need to do due diligence on their products, says International Accreditation New Zealand. More >>

Ten Senior Promotions at Chapman Tripp

Wednesday, 1 June 2016, 3:23 pm | Chapman Tripp

Chapman Tripp is pleased to announce ten senior promotions in the firm’s Auckland, Wellington and Christchurch offices. The appointments are effective from 1 June 2016. More >>

Shaw downplays talk of Ohariu electorate stitch up

Wednesday, 1 June 2016, 1:12 pm | BusinessDesk

June 1 (BusinessDesk) - Green Party co-leader James Shaw says he has "never discussed the possibility with anyone" of standing for Parliament in the Wellington electorate of Ohariu under a deal to try to displace the National Party's support ... More >>

There’s A Change Brewing

Wednesday, 1 June 2016, 12:56 pm | BrewGroup

The Bell Tea & Coffee Company is moving into an exciting new phase of business. From June 1 2016, Bell Tea & Coffee Company will be renamed BrewGroup. More >>

Second Edition Of The Colgate Community Recycle Drive

Wednesday, 1 June 2016, 12:40 pm | TerraCycle

New Zealanders can save used oral care items from landfill and join a nationwide competition to help raise funds for a local school, club or community group. More >>

NZ home values rise at 12.4% annual pace in May, QV says

Wednesday, 1 June 2016, 12:20 pm | BusinessDesk

June 1 (BusinessDesk) - New Zealand residential property values continued to push higher in May, as increased demand and limited supply underpinned the market. More >>

Kirkcaldie board holds firm on Brierley bid

Wednesday, 1 June 2016, 12:17 pm | BusinessDesk

June 1 (BusinessDesk) - Kirkcaldie & Stains' directors reiterated their recommendation that shareholders reject veteran corporate raider Ron Brierley's takeover offer after raising their estimate for the cash that will be returned once lease commitments ... More >>

Two Degrees reports $33.1M full-year loss

Wednesday, 1 June 2016, 12:08 pm | BusinessDesk

June 1 (BusinessDesk) - Two Degrees Mobile, New Zealand's third-largest telecommunications company, reported a net loss of $33.1 million for the year to Dec. 31 on 43 percent revenue growth, cracking half a billion dollars of annual turnover for the first ... More >>

Anathoth Jam – The Toast of New Zealand

Wednesday, 1 June 2016, 11:36 am | Canstar Blue

Anathoth Farm has been voted favourite jam for the second time in the Canstar Blue Customer Satisfaction Survey. More >>

NZ terms of trade rise 4.4% in March quarter

Wednesday, 1 June 2016, 11:34 am | BusinessDesk

June 1 (BusinessDesk) - New Zealand's terms of trade unexpectedly rose in the first three months of the year as cheap petrol pushed down import prices while export prices were little changed. More >>

NZ Merino inks 5-year, $45M contract with Italy's Reda

Wednesday, 1 June 2016, 11:32 am | BusinessDesk

June 1 (BusinessDesk) - The New Zealand Merino Company, which markets the nation's wool to customers on behalf of suppliers, has signed a five-year, $45 million deal to supply fine wool to Italian luxury fabric manufacturer Successori Reda, its longest-ever ... More >>

Fronde returns to profit on pretax basis

Wednesday, 1 June 2016, 11:17 am | BusinessDesk

June 1 (BusinessDesk) - Fronde Systems Group, which provides IT services to businesses, returned to profit on a pretax basis after overhauling the business to cut costs in the face of falling revenue. More >>

2degrees FY15 results – strong growth continues

Wednesday, 1 June 2016, 11:15 am | 2degrees Mobile

2degrees’ rapid growth continued in 2015 with revenue of $569.1m and EBITDA of $78.5m. The strong financial performance occurred in a year when 2degrees became a full service telecommunications provider, acquiring Snap, and made further significant ... More >>

Oceania Natural lifts annual profit but misses guidance

Wednesday, 1 June 2016, 11:15 am | BusinessDesk

June 1 (BusinessDesk) - Oceania Natural, the food supplements maker which listed on the NXT at the end of March, lifted annual profit as revenue more than doubled, although it missed its earnings guidance. More >>

NZ Master Joiner Awards

Wednesday, 1 June 2016, 11:14 am | Master Joiner Awards

The 2016 winning entries in the annual NZ Master Joiner Awards were announced last Saturday evening at the NZ Master Joiner Awards Dinner at the Millennium Hotel in Queenstown. More >>

Sliding oil import prices, export prices steady

Wednesday, 1 June 2016, 11:05 am | Statistics New Zealand

Prices for goods imports fell 4.3 percent in the March 2016 quarter, mainly influenced by oil products, which fell 24 percent. Import prices excluding oil products fell 1.4 percent. More >>

DairyNZ CalvingSmart events will set farmers up

Wednesday, 1 June 2016, 10:55 am | Dairy NZ

DairyNZ is running CalvingSmart events in June and July to help farmers approach the calving season with confidence. More >>

Z is about to share $1m among groups doing Good in the Hood

Wednesday, 1 June 2016, 10:38 am | Z Energy

The voting phase of Z’s Good in the Hood programme is over and 852 community groups are about to share in $1 million relative to how hundreds of thousands of New Zealanders voted. The groups doing good in neighbourhoods across the country were selected from ... More >>

Vital Healthcare flags A$84 mln spend to expand

Wednesday, 1 June 2016, 10:27 am | BusinessDesk

June 1 (BusinessDesk) - Vital Healthcare, which owns and develops property for hospitals and healthcare providers, plans to spend A$84 million to expand existing operations across the Tasman and make a series of new acquisitions. More >>

Agreement will build a stronger future for the golden breed

Wednesday, 1 June 2016, 10:25 am | Joint Press Release

Two organisations committed to the Jersey breed are joining forces and expertise to breed even better dairy cows into the future. More >>

Scarcity of houses for sale creates sellers’ market

Wednesday, 1 June 2016, 10:17 am | Realestate.co.nz

The average asking price for a New Zealand house hit an all-time high with stock at an all-time low for May 2016, in a market which is heavily favouring sellers. More >>

What employability skills do RangAtahi need to succeed?

Wednesday, 1 June 2016, 10:15 am | Careers New Zealand

Wellington, 01 June - Māori businesses are giving rangatahi (youth) an inside look at what skills they will need to be part of New Zealand’s booming $40 billion Māori economy. More >>

Yealands Earns 2016 TripAdvisor Certificate of Excellence

Wednesday, 1 June 2016, 10:10 am | Yealands

Yealands Estate Winery (Yealands) has just been recognised with a 2016 TripAdvisor® Certificate of Excellence. Now in its sixth year, the achievement celebrates hospitality businesses that have earned great traveller reviews on TripAdvisor over the past ... More >>

Whānau Tahi Makes New Zealand IT History

Wednesday, 1 June 2016, 9:56 am | Te Whanau O Waipareira Trust

Auckland, 1 June 2016 – A New Zealand Maori IT Company has created history with news from the US this morning that Whānau Tahi is a finalist in the 2016 Microsoft Partner of the Year Awards. More >>

NZ and Vietnam to focus on joint technology trade growth

Wednesday, 1 June 2016, 9:51 am | Make Lemonade

A new Kiwi technology hub which opens in Ho Chi Minh City next Monday marks the start of a bright new era in New Zealand and Vietnam tech trade connections. More >>

NZ struggling to commercialise good innovation

Wednesday, 1 June 2016, 9:41 am | BusinessDesk

May 31 (BusinessDesk) – New Zealanders have great ideas but the commercialisation of them was “near zero”, says Israeli entrepreneur Isaac Bentwich, whose latest venture, CropX, is based on technology from Landcare Research. More >>

“Printfinity And Beyond” SWUG Conference Unveiled

Wednesday, 1 June 2016, 9:36 am | SWUG

An interactive and engaging agenda has been confirmed for the sixteenth-annual Single Width Users’ Group (SWUG) Conference, being held at Wellington’s Copthorne Hotel on August 3-4. More >>

Search begins for New Zealand’s Women of Influence

Wednesday, 1 June 2016, 9:29 am | released via Porter Novelli

1 June 2016 – Nominations are open for the fourth annual Fairfax and Westpac Women of Influence Awards. The Awards recognise women from all walks of life who make a difference and help shape New Zealand, whether it’s in their community, a specific ... More >>

Introducing Paypr - Welcome to the end of paper receipts

Wednesday, 1 June 2016, 9:19 am | Paymark

Imagine no more end-of-month hassles reconciling paper receipts while trying to remember who you had coffee with on the 7th of the month. Now when you swipe your card at a Paymark EFTPOS terminal, Paypr will generate a digital receipt in real time, ready ... More >>

HiFX Morning Update, June 1 2016

Wednesday, 1 June 2016, 9:07 am | HiFX

The NZDUSD opens at 0.6763 (mid-rate) this morning. Following better than expected data releases, with both NZ business confidence and building consents exceeding expectations the NZD out-performed all of its major trading partners during our trading day More >>

NZ dollar hits week high vs. pound amid 'Brexit' fears

Wednesday, 1 June 2016, 9:05 am | BusinessDesk

June 1 (BusinessDesk) - The New Zealand dollar rose to a week high against the British pound, which slumped as new polling data raised concern about a potential British exit from the European Union. More >>

Fletcher at highest in 2016, Auckland Airport heavily traded

Wednesday, 1 June 2016, 9:03 am | BusinessDesk

May 31 (BusinessDesk) - New Zealand shares gained as Fletcher Building reached its highest level this year on speculation it will benefit from housing demand, while Auckland International Airport, which fell, was the most heavily traded stock. Orion ... More >>

NZ dollar gains on rising business confidence

Tuesday, 31 May 2016, 5:35 pm | BusinessDesk

May 31 (BusinessDesk) - The New Zealand dollar gained after a survey showed business confidence rose for a third month while strong Australian exports, building approvals, and business lending figures drove up the Aussie dollar, dragging the kiwi with it. More >>

New Labour-Greens MoU falls short of coalition

Tuesday, 31 May 2016, 5:11 pm | BusinessDesk

May 31 (BusinessDesk) - The Labour and Green parties have signed a memorandum of understanding in which they commit to "work collaboratively to change the government", in a move intended to demonstrate an alternative government-in-waiting while forcing ... More >>

Fonterra winds up $109M staff pension scheme

Tuesday, 31 May 2016, 4:45 pm | BusinessDesk

May 31 (BusinessDesk) - Fonterra Cooperative Group, which is on a cost-cutting drive in the face of weak global prices, has wound up a $109 million staff pension scheme inherited from the New Zealand Dairy Board as part of the amalgamation that created ... More >>

Mercer Group to consolidate operations in Christchurch

Tuesday, 31 May 2016, 4:21 pm | BusinessDesk

May 31 (BusinessDesk) - Mercer Group, the stainless steel fabricator, is to restructure its operations by consolidating design, engineering, and machine manufacturing in Christchurch. More >>

NZ "struggling to commercialise good innovation"

Tuesday, 31 May 2016, 4:18 pm | BusinessDesk

May 31 (BusinessDesk) – New Zealanders have great ideas but the commercialisation of them was “near zero”, says Israeli entrepreneur Isaac Bentwich, whose latest venture, CropX, is based on technology from Landcare Research. More >>

Chinese airline stake in Virgin could help Air NZ sale

Tuesday, 31 May 2016, 4:06 pm | BusinessDesk

May 31 (BusinessDesk) - Air New Zealand’s proposed sale of its 25.99 percent stake in Virgin Australia could be aided by a Chinese airline operator's new stake in Virgin. More >>

Former SkyCity boss Nigel Morrison sells shares

Tuesday, 31 May 2016, 3:30 pm | BusinessDesk

May 31 (BusinessDesk) - Former SkyCity Entertainment Group chief executive Nigel Morrison has raised $461,450 by selling a small part of his stake in the casino group. More >>

LINZ boss Mersi tapped to be Transport CEO

Tuesday, 31 May 2016, 2:35 pm | BusinessDesk

May 31 (BusinessDesk) - Land Information New Zealand chief Peter Mersi has been appointed chief executive of the Ministry of Transport after almost three years running the government department that includes the Overseas Investment Office. More >>

Last week for applications to Contact Epic Community Fund

Tuesday, 31 May 2016, 2:12 pm | Contact Epic

Community organisations and residents are being encouraged to apply for support from the Contact Epic Community Fund before applications close on Wednesday June 8. More >>

NZ business confidence rises in May

Tuesday, 31 May 2016, 1:43 pm | BusinessDesk

May 31 (BusinessDesk) - New Zealand firms grew more confident about the state of the local economy for the third month in a row, with gains most evident in construction, ANZ Bank New Zealand says. More >>

Snakk narrows annual loss

Tuesday, 31 May 2016, 1:24 pm | BusinessDesk

May 31 (BusinessDesk) - Snakk Media, which aggregates publishers' advertising space on mobile devices and matches it to demand, narrowed its annual loss while more than doubling sales in South East Asia, which now eclipse revenue in New Zealand. More >>

2016 Global Business Traveller Insights Revealed

Tuesday, 31 May 2016, 1:23 pm | FCm Travel Solutions

2016 Global Business Traveller Insights Revealed FCM Travel Solutions has released its 2016 global traveller insights report detailing business travel trends and statistics from around the globe. Key outtakes include: • The average cost of a business trip ... More >>

Nokia and Chorus extend technology partnership

Tuesday, 31 May 2016, 1:07 pm | Nokia

Nokia and Chorus extend technology partnership supporting new investment in New Zealand’s ultra high speed broadband infrastructure More >>

Plain Packaging for Tobacco May Impact Retailers

Tuesday, 31 May 2016, 12:14 pm | Retail NZ

Retail NZ is warning that proposed plain packaging rules for tobacco products will add significant complexity for small dairies, who already face a raft of regulations around tobacco sales. More >>

NZ residential building consents rise 6.6% in April

Tuesday, 31 May 2016, 11:22 am | BusinessDesk

May 31 (BusinessDesk) - New Zealand residential building consents climbed 6.6 percent in April as new housing intentions climbed at their fastest monthly pace in eight years. More >>

 

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