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Latest Business Headlines

Chorus shapes its future workforce

Friday, 22 May 2015, 8:38 pm | Chorus

Chorus is a company focused on ensuring that its future workforce has the right skills. It has teamed up with secondary schools to introduce students to the world of telecommunications and technology through its Schools Gateway Programme. More >> Acquisition Completed

Friday, 22 May 2015, 8:02 pm | Mana Bus is proud to announce the deal is now officially complete. The acquisition was first announced on 7th of May by Sir Brian Souter of Souter Holdings Limited. The transaction was completed on the 21st May. “This is an exciting development ... More >>

MARKET CLOSE: NZ shares rise, led by Coats; Nuplex gains

Friday, 22 May 2015, 5:37 pm | BusinessDesk

May 22 (BusinessDesk) - New Zealand shares rose, led by Coats Group after it said earnings were on track. Nuplex Industries advanced after it flagged it would lift its dividend payments. More >>

Costs of Govt's telco levy to to be passed on to consumers

Friday, 22 May 2015, 5:12 pm | Spark

“Spark New Zealand supports the expansion of broadband and mobile connectivity in rural New Zealand,” says Managing Director Simon Moutter. More >>

NZ dollar heads for 1.2% weekly decline

Friday, 22 May 2015, 5:12 pm | BusinessDesk

May 22 (BusinessDesk) - The New Zealand dollar is heading for a 1.2 percent weekly decline this week as investors weigh up whether measures to reign in the country's housing market will free up the Reserve Bank to cut interest rates. More >>

NZ wool prices jump to multi-year high at auction

Friday, 22 May 2015, 5:09 pm | BusinessDesk

May 22 (BusinessDesk) - New Zealand wool prices jumped to multi-year highs at auction even as the volume on offer rose 78 percent, amid strong demand from exporters. More >>

Shaun Cosgrave #1 Exclusive Lister

Friday, 22 May 2015, 4:11 pm | Harcourts

Shaun Cosgrave #1 Exclusive Lister Shaun Cosgrave has shown once again that he is one of the most trusted names in real estate. Shaun was named the Top Exclusive Lister in the Harcourts Central Region for 2014/2015. Shaun received the award at the Harcourts ... More >>

Russell McVeagh wins M&A Deal of the Year

Friday, 22 May 2015, 3:23 pm | Russell McVeagh

The Australasian Law Awards were held in Sydney last week and Russell McVeagh was recognised as part of the team advising on the 2015 M&A Deal of the Year. More >>

Simpson Grierson Awards Employment Law Prize

Friday, 22 May 2015, 2:47 pm | Simpson Grierson

The award recognises the student with the best overall mark in the University of Auckland's employment law class. Richard was presented with a cheque for $1,500 at a function in the firm's Auckland office today. More >>

UPDATE: Ryman posts 24% rise in FY profit on values gain

Friday, 22 May 2015, 2:47 pm | BusinessDesk

May 22 (BusinessDesk) - Ryman Healthcare, New Zealand's largest listed retirement village builder and operator, posted a 24 percent gain in annual profit as the value of its properties increased and revenue rose. More >>

MBIE seeks proposals for research on China visitor market

Friday, 22 May 2015, 2:45 pm | Ministry of Business Innovation and Employment

The Ministry of Business, Innovation and Employment is asking for proposals from businesses and organisations with an interest in helping New Zealand’s tourism sector develop a deeper understanding of the needs and preferences of Chinese visitors. More >>

Understand Your Electricity Options and Rights

Friday, 22 May 2015, 2:15 pm | Electricity Authority

: 22 May 2015 Electricity Authority Urges Consumers to Understand Their Electricity Options and Rights As Australasian Fraud Week comes to an end, the Electricity Authority is reminding consumers to check their electricity options and rights to make sure ... More >>

Air New Zealand reveals new lounge design in Sydney

Friday, 22 May 2015, 1:39 pm | Air New Zealand

Air New Zealand has today revealed its new international network lounge design with the opening of its ground breaking lounge at Sydney Airport. The Sydney lounge is the first to carry the ultra-modern design that was formulated in conjunction with ... More >>

NZ consumer confidence slips in May

Friday, 22 May 2015, 1:35 pm | BusinessDesk

May 22 (BusinessDesk) - New Zealand consumer confidence slipped in May as sentiment about current and future conditions eased. More >>

UPDATE: Comvita lifts FY profit 28% to record

Friday, 22 May 2015, 1:08 pm | BusinessDesk

UPDATE: Comvita lifts FY profit 28% to record as Asian tourists help drive sales growth More >>

Airports Association welcomes draft report

Friday, 22 May 2015, 12:50 pm | NZ Airports

Today’s release by the Commerce Commission of its draft report into information disclosure by Christchurch Airport demonstrates ongoing refinement of the economic regulation of the major airports, said Kevin Ward, Chief Executive of the New Zealand ... More >>

The irrefutable success of Vidal Legacy Hawkes Bay Chardonna

Friday, 22 May 2015, 12:25 pm | Vidal Estate

Quality, concentration and excellent balance are only a few words to describe the Vidal Legacy Hawkes Bay Chardonnay 2012 which has picked up another accolade to add to its growing history book of awards. This incredible wine picked up the Hawkes ... More >>

SCEE and Sony Mobile sign sponsorship deal until 2018

Friday, 22 May 2015, 11:53 am | Spark PR and Activate

SCEE and Sony Mobile sign sponsorship deal until 2018 22nd May 2015, Auckland: Sony Computer Entertainment Europe (SCEE) and Sony Mobile Communications today confirmed a three year global partnership as Official Partners of the UEFA Champions League ... More >>

Changes at Flight Centre (NZ) Ltd

Friday, 22 May 2015, 11:48 am | Flight Centre

“I’m very pleased with the recent appointments of Simon, Rochelle, Sean and Danny. They all have fantastic track records of success and are well regarded in the industry. I’m looking forward to seeing them lead our teams in what is going to be a very ... More >>

More skilled job vacancies available online

Friday, 22 May 2015, 11:42 am | Ministry of Business Innovation and Employment

Skilled job vacancies advertised online increased by 6.3 per cent in the past year, according to the latest Ministry of Business, Innovation and Employment Jobs Online report. More >>

Hellaby buys auto parts, truck servicing businesses

Friday, 22 May 2015, 11:41 am | BusinessDesk

May 22 (BusinessDesk) - Hellaby Holdings, the diversified investment group, said it acquired two businesses to strengthen its auto parts and truck servicing operations, for an all-up cost of less than $25 million. More >>

New skills help local businesses start growth acceleration

Friday, 22 May 2015, 11:41 am | Shine PR

Eleven local businesses have widened their sales and leadership skills through the Growth Acceleration Programme which aims to spark Rotorua business improvement. Led by Grow Rotorua and the Chamber of Commerce, the programme started on 25 February ... More >>

New Zealand Breweries Toast International Success

Friday, 22 May 2015, 11:39 am | The Brewers Guild

New Zealand breweries big and small have shown their class on the world stage, collecting six major awards at the prestigious Australian International Beer Awards in Melbourne on Thursday night. More >>

Blenheim the place to be in June for Ag contractors

Friday, 22 May 2015, 11:25 am | Rural Contractors NZ

Rural Contractors New Zealand (RCNZ) is encouraging all of its members – and any others interested in the agricultural contracting sector – to attend its annual conference being held in Blenheim later next month. More >>

Working to surplus the best news for farmers in the Budget

Friday, 22 May 2015, 11:24 am | Federated Farmers

Federated Farmers says it’s disappointed there is no Budget surplus this year, but the best news for farmers from the Government is that it is on track for a surplus next year. More >>

Biosecurity announcements a good response to changing risks

Friday, 22 May 2015, 11:09 am | DCANZ - Dairy Companies Association New Zealand

The Dairy Companies Association of New Zealand (DCANZ) has welcomed the 2015 budget announcements in support of better biosecurity outcomes. More >>

Airport Sector Opposes International Border Tax

Friday, 22 May 2015, 11:05 am | NZ Airports

The Government’s announcement to impose a tax on all departing and arriving international travellers is a border tax masquerading as a bio-security and customs levy. More >>

Ryman Healthcare reports record profit of $136.3 million

Friday, 22 May 2015, 10:56 am | Ryman Healthcare

Ryman Healthcare today announced a record underlying profit of $136.3 million thanks to unprecedented demand for new villages in Melbourne and Auckland. Valuation gains lifted the reported profit after tax to $241.9 million. More >>

Gap between benefits and low waged workers had got too large

Friday, 22 May 2015, 10:52 am | BusinessDesk

May 22 (BusinessDesk) - The government decided to boost benefits for beneficiaries with children because the gap between benefit levels and the lowest income wage earners had become "a bit too wide," Finance Minister Bill English said at a post-Budget ... More >>

Government’s border levy announcement

Friday, 22 May 2015, 10:51 am | Auckland Airport

The Government has announced that it will implement a passenger levy of $22 for a return international trip. Auckland Airport considers that this new tax could impact New Zealand’s competitiveness as a tourist destination, especially for those travellers ... More >>

Report on Christchurch Airport’s revised pricing information

Friday, 22 May 2015, 10:48 am | Commerce Commission

The Commerce Commission has today published its observations on Christchurch International Airport Limited’s (CIAL) disclosure of revised pricing information. Deputy Commissioner Sue Begg welcomed the initiative from CIAL to provide a revised disclosure clarifying ... More >>

NZX Market Announcement

Friday, 22 May 2015, 10:30 am | Chatham Rock Phosphate

Following the announcement on 1 April 2015 of its proposed business restructure Chatham Rock Phosphate (CRP) has now entered into a formal loan agreement with Antipodes Gold Limited (AXG). More >>

Stellar Library attracts strong interest in America

Friday, 22 May 2015, 10:19 am | Stellar Library

New Zealand document management company Stellar Library has attracted the interest of a range of American organisations, including US government agencies, universities, health organisations and the Navajo Nation, after attending Interop, the world’s ... More >>

Serko's annual loss widens, targets profitability in 2017

Friday, 22 May 2015, 10:19 am | BusinessDesk

May 22 (BusinessDesk) - Serko, the online travel booking business, reported a wider annual loss in line with its prospectus forecast, while delivering slower growth in sales than anticipated, and is targeting profitability in the first half of 2017. More >>

Ryman posts 24% profit gain on revaluations and sales rise

Friday, 22 May 2015, 10:02 am | BusinessDesk

May 22 (BusinessDesk) - Ryman Healthcare, New Zealand's largest listed retirement village builder and operator, posted a 24 percent gain in annual profit as the value of its properties increased and revenue rose. More >>

Comvita lifts annual profit 28 percent, beating expectations

Friday, 22 May 2015, 9:56 am | BusinessDesk

May 22 (BusinessDesk) - Comvita, the Te Puke-based maker of health products based on manuka honey, boosted annual profit 28 percent, beating expectations as tourism to New Zealand helped drive sales. More >>

Christchurch Airport still targets excessive returns: Comcom

Friday, 22 May 2015, 9:50 am | BusinessDesk

May 22 (BusinessDesk) - Christchurch International Airport (CIAL) is still targeting excessive returns, the Commerce Commission says, after the airport provided clarification of its pricing methodology. More >>

Nuplex boosts annual dividend 28%, lifts payout range

Friday, 22 May 2015, 9:48 am | BusinessDesk

May 22 (BusinessDesk) - Nuplex Industries, the specialty chemical and resin maker, expects to increase its annual dividend by nearly a third and has lifted payout ratio to 60 percent of profit. More >>

Coats says rising sales in early 2015 affirm outlook for sta

Friday, 22 May 2015, 9:42 am | BusinessDesk

May 22 (BusinessDesk) - Coats Group, the NZX-listed UK threadmaker once part of the Guinness Peat Group empire, says sales growth has been in line with management's expectations in the first four months of the year, and affirmed its forecast for ... More >>

Budget 2015: Responsible and Business-like

Friday, 22 May 2015, 9:36 am | Hutt Valley Chamber of Commerce

The Government has presented a budget that operates within its income and invests in those parts of society that require support says Mark Futter, Chief Executive of the Hutt Valley Chamber of Commerce More >>

HIFX Morning Update, May 22

Friday, 22 May 2015, 9:15 am | HiFX

The NZD opens at similar levels to where we closed yesterday. The budget caused little movement reiterating more of the same to come. Net migration numbers were slightly more interesting showing just over 4,700 new Kiwis arrived at our shores during the ... More >>

NZ dollar drops to 4-year low vs. Sterling after upbeat data

Friday, 22 May 2015, 8:49 am | BusinessDesk

May 22 (BusinessDesk) - The New Zealand dollar fell to a four-year low against the British pound after UK retail sales rose more-than-expected in April, boosting optimism about the outlook for the economy. More >>

Weaker NZ Dollar Helps Wool Prices

Thursday, 21 May 2015, 7:24 pm | NZ Wool Services International Ltd

New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel advises that a weaker New Zealand dollar compared to the last sale on 14th May, kept prices high despite a significant increase in the rostered quantity. Steady ... More >>

Cable cut reminds us of the risk of isolation

Thursday, 21 May 2015, 7:17 pm | TUANZ

The news that the Southern Cross Cable suffered its second cut in three months is a timely reminder of our reliance on that network for international connectivity from New Zealand to the rest of the world. Telecommunications Users Association of ... More >>

Budget 2015 – steady as she goes

Thursday, 21 May 2015, 6:58 pm | Chapman Tripp

The English “brand” is there in the steady-as-she-goes fiscal and economic management and in the finely targeted policy interventions. More >>

RESEND MARKET CLOSE: NZ shares rise; DNZ gains; Spark drops

Thursday, 21 May 2015, 5:58 pm | BusinessDesk

RESEND MARKET CLOSE: NZ shares rise; DNZ gains; Spark drops; Chorus at 2.5 year high More >>

Budget 2015 refreshingly free of tax changes

Thursday, 21 May 2015, 5:51 pm | Deloitte

Apart from the much discussed announcement of extra funding for property tax compliance and a number of measures directed at providing extra tools to Inland Revenue for this work, there were refreshingly few changes to tax settings announced in today’s ... More >>

FMA probes Arena Capital, operating as BlackfortFX

Thursday, 21 May 2015, 5:43 pm | BusinessDesk

May 21 (BusinessDesk) - The Financial Markets Authority is investigating a Christchurch company called Arena Capital, trading as foreign exchange services provider BlackfortFX, saying it is concerned investor funds may be at risk. More >>

MARKET CLOSE: NZ shares rise; DNZ gains; Spark drops

Thursday, 21 May 2015, 5:33 pm | BusinessDesk

MARKET CLOSE: NZ shares rise; DNZ gains; Spark drops; Chorus at 2.5 year high More >>

Scutts found guilty of fraud after accepting kickbacks

Thursday, 21 May 2015, 5:30 pm | BusinessDesk

May 21 (BusinessDesk) - Peter Scutts, the former head of New Zealand Wine Co, was found guilty of 17 fraud charges laid by the Serious Fraud Office in the Auckland High Court today. More >>

Budget 2015 brings home reality of a hard economic grind

Thursday, 21 May 2015, 5:16 pm | Deloitte

Finance Minister Bill English announced his seventh budget to the nation today with few surprises and little fanfare. Deloitte CEO Thomas Pippos says Budget 2015, the first budget in the Government’s third term, is evolutionary rather than revolutionary, ... More >>

NZ dollar holds near bottom of range as rate cut eyed

Thursday, 21 May 2015, 5:14 pm | BusinessDesk

May 21 (BusinessDesk) - The New Zealand dollar held near the bottom end of its recent trading range as investors weighed up whether the Reserve Bank will cut interest rates to further stimulate a slowing economy. More >>

Annah Stretton: Crisis vs Change

Thursday, 21 May 2015, 5:12 pm | PANIC

Annah Stretton, RAW Charity founder and Director, discusses child poverty and how the budget needs to address the issue through mothers More >>

Budget 2015: Where's the broader long term plan?

Thursday, 21 May 2015, 5:07 pm | Chartered Accountants Australia and New Zealand

Budget 2015: A much needed focus on vulnerable families but where’s the broader long term plan? More >>

Budget 2015: Sticks to tried and tested formula

Thursday, 21 May 2015, 5:01 pm | PwC

“Budget 2015 delivers few surprises, and sticks to the approach we have come to expect from the Minister of Finance,” says PwC Chief Executive Office Bruce Hassall. More >>

FMA secures Asset Preservation Orders over Arena Capital Ltd

Thursday, 21 May 2015, 3:27 pm | NZFMA

The FMA confirms that it is undertaking an investigation into Arena Capital Limited (Arena), trading as BlackfortFX (Blackfort). The FMA has obtained asset preservation orders over the assets of Arena/Blackfort and associated persons, in light of concerns ... More >>

Air New Zealand’s Surfing Safari safety video makes waves

Thursday, 21 May 2015, 3:16 pm | Air New Zealand

Air New Zealand’s latest inflight safety video Surfing Safari has attracted almost four million online viewers in its first week. More >>

Budget 2015 takes an incremental approach

Thursday, 21 May 2015, 3:10 pm | Business NZ

The Government has taken an incremental approach to reform in the 2015 Budget, says BusinessNZ. More >>

NZ credit ratings unaffected by government's 2015 budget

Thursday, 21 May 2015, 3:05 pm | BusinessDesk

May 21 (BusinessDesk) - New Zealand's credit ratings were unaffected by the government's 2015 budget, Standard & Poor's and Moody's Investors Service say. More >>

Property Institute gives tick to Budget Housing initiative

Thursday, 21 May 2015, 2:58 pm | New Zealand Property Institute

Thursday, 21 May 2015 Property Institute gives tick to Budget Housing initiative Property Institute of New Zealand Chief Executive, Ashley Church, has given a tick to Government plans to free up land, in Auckland, for housing development. More >>


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