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Latest Business Headlines

IAG joins Christchurch earthquake claims service

Saturday, 16 February 2019, 11:25 am | IAG New Zealand

New Zealand’s leading general insurer IAG has announced that it will participate in the Greater Christchurch Claims Resolution Service (GCCRS), an initiative designed to fast-track the resolution of outstanding residential Canterbury earthquake insurance ... More >>

Fletcher Building to acquire Waikato Aggregates

Saturday, 16 February 2019, 11:01 am | Commerce Commission

Commission grants clearance for Fletcher Building to acquire Waikato Aggregates The Commerce Commission has granted clearance for Fletcher Building Limited to acquire the business of Waikato Aggregates, except for the land at Tamahere quarry. More >>

MARKET CLOSE: NZ shares dip as global trade jitters weigh

Friday, 15 February 2019, 9:32 pm | BusinessDesk

Feb. 15 (BusinessDesk) - New Zealand shares fell as pessimism over trade negotiations between the US and China cast a pall across Asia. Exporters including A2 Milk and Fisher & Paykel Healthcare led the market lower. More >>

NZ dollar set for weekly gain after Reserve Bank surprise

Friday, 15 February 2019, 9:31 pm | BusinessDesk

Feb. 15 (BusinessDesk) - The New Zealand dollar fell slightly on the day but is headed for a 1.2 percent weekly gain after the Reserve Bank surprised the market last Wednesday with a less dovish than expected monetary policy statement. More >>

Burger Fuel exploring sale after review questions merits

Friday, 15 February 2019, 4:26 pm | BusinessDesk

Feb. 15 (BusinessDesk) - Burger Fuel Worldwide will test the waters for a potential buyer after a review by KPMG questioned the fast-food franchisor's current listing. More >>

Mitsubishi Corporation to Invest in OVO Group

Friday, 15 February 2019, 4:12 pm | JCN Newswire

Mitsubishi Corporation(MC) is pleased to announce its decision to invest in UK-based innovative energy service provider OVO Group Limited(OVO). MC will obtain 20% of shares in OVO and will dispatch a director to join OVO's management team. More >>

Federated Farmers and Gallagher forge new relationship

Friday, 15 February 2019, 3:38 pm | Federated Farmers

Long-standing contributor to New Zealand agriculture Gallagher Ltd and Federated Farmers are joining forces to form a new business partnership. More >>

New net migration data to remain rubbery for quite some time

Friday, 15 February 2019, 3:17 pm | BusinessDesk

Feb. 15 (BusinessDesk) - The second month of the new net migration statistics suggests the data will be highly volatile and that at the very least, a longer build-up of history will be needed before anybody can rely on each new month’s figures. More >>

NZX to push sales this year

Friday, 15 February 2019, 3:02 pm | BusinessDesk

Feb. 15 (BusinessDesk) - NZX will pursue sales growth this year, after wearing the cost of reshaping its business in 2018 as part of a five-year strategy to revive the capital markets. More >>

Slowing new orders growth weighs on January PMI

Friday, 15 February 2019, 2:57 pm | BusinessDesk

Feb. 15 (BusinessDesk) - Growth in new orders slowed for a third month in a row, according to the latest BNZ-BusinessNZ performance of manufacturing index. More >>

BitPrime Announces Partnership with Crossgate Capital Ltd

Friday, 15 February 2019, 2:42 pm | BitPrime

BitPrime, New Zealand’s premier cryptocurrency retailer, has today announced partnership with Crossgate Capital Ltd. in response to the need for investors to have an easy on-ramp into the digital asset class. More >>

Consultation on new mortgage bond standard extended

Friday, 15 February 2019, 2:16 pm | Reserve Bank

15 February 2019 Consultation on new mortgage bond standard extended and loan template published The Reserve Bank is extending the consultation period for the proposed mortgage bond standard. More >>

Connecting rural Māori to the Internet

Friday, 15 February 2019, 2:14 pm | Te Puni Kokiri

Te Puni Kōkiri is proud to be a partner in the Marae Connectivity project that will see selected rural marae connected to the internet by the end of this year. More >>

Symantec’s Email Security Solution

Friday, 15 February 2019, 2:06 pm | Symantec

AUCKLAND, New Zealand – 15 February 2019 - Symantec Corp. (NASDAQ: SYMC), the world’s leading cyber security company, today announced Email Fraud Protection, an automated solution that helps organisations block fraudulent emails from reaching ... More >>

New NZ dry dock a basis for new industry - KiwiRail

Friday, 15 February 2019, 1:54 pm | BusinessDesk

Feb. 15 (BusinessDesk) - A dry dock to handle the country’s biggest vessels is affordable and can form the basis of a new marine servicing industry, KiwiRail chair Greg Miller says. More >>

Wellington Drive beats 2H sales forecast

Friday, 15 February 2019, 1:32 pm | BusinessDesk

Feb. 15 (BusinessDesk) - Wellington Drive Technologies says revenue rose 36 percent in calendar 2018 and it will deliver an operating profit as promised. More >>

New partnership to boost Chinese visitor

Friday, 15 February 2019, 1:31 pm | ATEED

New partnership with UnionPay International to boost Chinese visitors to New Zealand RELEASE SUMMARY • Auckland Tourism, Events and Economic Development (ATEED), UnionPay International Co. Ltd (UPI) and Immigration New Zealand sign the China – New Zealand ... More >>

Tropical fruit options bring exciting opportunities

Friday, 15 February 2019, 1:15 pm | Bayleys

Bananas, so often associated with warm tropical climates on the equator may prove to be another cropping opportunity for enterprising horticulturalists from Northland to Gisborne. More >>

NZIQS decides more training is the answer

Friday, 15 February 2019, 1:07 pm | BusinessDesk

Feb. 15 (BusinessDesk) - The New Zealand Institute of Quantity Surveyors has decided more training is the best penalty to impose on immediate past president Jeremy Shearer after a Building Disputes Tribunal adjudicator described his conduct as “punitive,” ... More >>

FUJIFILM launches high performing all-rounders

Friday, 15 February 2019, 12:41 pm | Fuji Film

Introducing the FUJIFILM X-T30 mirrorless camera and the FUJINON XF16mmF2.8 R WR lens - setting new standards in compact and lightweight photography gear More >>

Pāmu announces increased profit for half year

Friday, 15 February 2019, 12:29 pm | Pamu

Landcorp Farming Limited (known as Pāmu) has declared a net profit after tax of $29 million for the half year ended 31 December 2018. This compares to $21 million for the half year ended 31 December 2017. More >>

Tourism still growing but more slowly

Friday, 15 February 2019, 12:26 pm | Tourism Industry Aotearoa

New international visitor arrival statistics confirm the growth in New Zealand’s tourism economy is slowing after four years of exceptional growth, Tourism Industry Aotearoa says. More >>

NZ dollar holds gains as US retail sales weigh on greenback

Friday, 15 February 2019, 11:42 am | BusinessDesk

Feb. 15 (BusinessDesk) - The New Zealand dollar held yesterday's gain as weaker-than-expected US retail sales raised fears about a slowdown in the world's biggest economy, weighing on the greenback. More >>

WorkSafe joins Young Farmer of the Year Competition

Friday, 15 February 2019, 11:35 am | WorkSafe NZ

WorkSafe New Zealand has today announced a partnership with the FMG Young Farmer of the Year competition. More >>

Westpac And Stadium Trust to Conclude Partnership

Friday, 15 February 2019, 11:24 am | Westpac

Westpac NZ and the Wellington Regional Stadium Trust have announced they will conclude their naming rights sponsorship at the end of 2019, bringing to an end one of the longest partnerships in New Zealand sport. More >>

December visitor numbers reach new heights

Friday, 15 February 2019, 10:58 am | Statistics New Zealand

There were 529,300 visitor arrivals in December 2018, the highest for any month, Stats NZ said today. More >>

Net migration 48,000 in December 2018 year

Friday, 15 February 2019, 10:49 am | Statistics New Zealand

The provisional estimate of annual net migration in the year ended December 2018 was 48,300 (± 1,800), Stats NZ said today. More >>

The Deloitte South Island Index reverses course

Friday, 15 February 2019, 10:02 am | Deloitte

The Deloitte South Island Index changed gears, reversing the growth achieved in the prior two quarters, in the quarter to 31 December 2018. South Island listed companies collectively saw their market capitalisation decline by $2,390.4 million (9.2%) in ... More >>

NZ Electricity Companies would be breaking EU/US rules in NZ

Friday, 15 February 2019, 9:45 am | Ecotricity

The Electricity Price Review is due for release at the end of this month and Al Yates, Managing Director of Ecotricity says it can’t come soon enough. More >>

Good time to buy as Year of the Pig begins

Friday, 15 February 2019, 9:43 am | ASB Bank

House price expectations have slipped again in the three months to January, although the dip was less dramatic than in the previous quarter, according to the latest ASB Housing Confidence Survey. With a net 23% of respondents anticipating price increases, ... More >>

BitPrime Cryptocurrency Price Update

Friday, 15 February 2019, 9:26 am | BitPrime

Cryptocurrency Market Market capitalisation yesterday: NZD$178,149,375,864 Market capitalisation today: NZD$175,921,132,360 Change: -1.25% More >>

Stage set for more vibrant Equity Capital Markets

Friday, 15 February 2019, 9:10 am | Chapman Tripp

The stage is set for a rebound of New Zealand’s equity capital markets, with much brighter years now firmly in sight, Chapman Tripp says. More >>

XE Morning Update

Friday, 15 February 2019, 9:09 am |

The Kiwi opens at 0.6836 The Kiwi has managed to hold onto its gains after the RBNZ announcement on Wednesday. The market had priced in a circa 95% chance of a cut during 2019, so was caught very offside by the less than dovish comments. Market is now ... More >>

MARKET CLOSE: NZ shares snap six-day gain as kiwi weighs

Thursday, 14 February 2019, 9:15 pm | BusinessDesk

MARKET CLOSE: NZ shares snap six-day gain as kiwi weighs on F&P, A2; Skellerup gains More >>

NZ dollar rises on stronger China trade data

Thursday, 14 February 2019, 9:14 pm | BusinessDesk

Feb. 14 (BusinessDesk) - The New Zealand dollar rose on stronger than expected trade data from China and positive news on its trade dispute with the United States. More >>

Macpac performance overshadowed by SRG underpayments scandal

Thursday, 14 February 2019, 9:13 pm | BusinessDesk

Feb. 14 (BusinessDesk) - Super Retail Group, which bought New Zealand outdoor clothing and equipment company Macpac 12 months ago, reported a 6 percent increase in first-half sales and an almost 9 percent improvement in normalised net profit. More >>

MPs told $200m Northport rail link 'critical'

Thursday, 14 February 2019, 9:12 pm | BusinessDesk

Feb. 14 (BusinessDesk) - Economic growth in Northland is akin to that in Waikato and the Bay of Plenty during the 1970s and 1980s and will need investment in rail to support the region’s growing export industries, MPs heard today. More >>

CORRECTION: AMP NZ's earnings slide; group profit slumps 97%

Thursday, 14 February 2019, 9:04 pm | BusinessDesk

(Corrects to show AMP NZ results in the first sentence are for the life insurance business only) More >>

TVNZ has a keen interest in what happens to Stuff

Thursday, 14 February 2019, 9:03 pm | BusinessDesk

Feb. 14 (BusinessDesk) - Television New Zealand chief executive Kevin Kenrick will take a keen interest in Nine Entertainment's planned sale of its New Zealand business and isn't ruling out having a look at Stuff's assets. More >>

UPDATE: Reserve Bank's Orr says he's open to persuasion

Thursday, 14 February 2019, 9:01 pm | BusinessDesk

UPDATE: Reserve Bank's Orr says he's open to persuasion on new bank capital rules More >>

UPDATE: KiwiBuild will crowd out as much as 75%

Thursday, 14 February 2019, 9:00 pm | BusinessDesk

Feb. 14 (BusinessDesk) - The Reserve Bank estimates that for every 100 houses built under the government's KiwiBuild programme over the next three years, between 50 and 75 other houses may not be built because of capacity constraints. More >>

MTA welcomes Trade Training shakeup

Thursday, 14 February 2019, 5:13 pm | Motor Trade Association

The Motor Trade Association is hoping that the government’s proposed reforms of the vocational education system will result in more people training for the trades. More >>

Launch of Testing Service helps identify Salespeople

Thursday, 14 February 2019, 4:38 pm | Achievement Discoveries

Launch of New Zealand online testing service helps identify the right sales people for retail More >>

HOST Global Talent Internship Programme Launches in Auckland

Thursday, 14 February 2019, 4:21 pm | HOST International

Companies with be partnered with highly skilled and talented former refugees who bring their global marketplace experience and cultural diversity to teams as short-term volunteer interns. More >>

Pultron announces Nick Crofts as CEO to rebar subsidiary

Thursday, 14 February 2019, 4:12 pm | Pultron Composites

Pultron Composites, based in Gisborne, New Zealand is pleased to announce the appointment of Mr Nick Crofts to the new position of CEO at Mateenbar in Dubai. More >>

New MPS committee reduces risk of a feral Reserve Bank

Thursday, 14 February 2019, 4:11 pm | BusinessDesk

New MPS committee reduces risk of a feral Reserve Bank governor: Orr More >>

Provincial rental properties experiencing strong growth

Thursday, 14 February 2019, 4:04 pm | Property Brokers

Property Brokers are seeing a steady supply and demand trend showing throughout the middle to lower North Island which is resulting in low vacancy rates and increased rents. More >>

AMP NZ's earnings slide 45%; group profit slumps 97%

Thursday, 14 February 2019, 3:50 pm | BusinessDesk

Feb. 14 (BusinessDesk) - AMP’s New Zealand arm reported a 45 percent slump in operating earnings to A$39 million for calendar 2018, largely reflecting A$180 million of capitalised losses and about A$50 million of experience losses. This follows an increase in income ... More >>

Suncorp's New Zealand 1H profit jumps on premium price hikes

Thursday, 14 February 2019, 3:33 pm | BusinessDesk

Feb. 14 (BusinessDesk) - Suncorp Group's New Zealand insurance arm boosted first-half profit by 79 percent as the latest round of premium hikes coincided with a dip in how much it paid out in claims. More >>

Canterbury company launch community owned property campaign

Thursday, 14 February 2019, 3:15 pm | PledgeMe

Lyttelton based Collett’s Corner Limited is a community focussed property developer offering Kiwis an opportunity to own a piece of their first commercial building. Collett’s Corner will be New Zealand’s first community minded, equity crowdfunded ... More >>

Meridian buys power from rival Genesis amid strong demand

Thursday, 14 February 2019, 3:08 pm | BusinessDesk

Feb. 14 (BusinessDesk) - Meridian Energy, the country’s biggest hydro generator, has bought electricity from rival power company, gas/coal generator Genesis Energy over the past two months. This is a sign it is trying to manage its hydro risk coming ... More >>

The Loop Duty Free revs its engine

Thursday, 14 February 2019, 2:58 pm | Loop Duty Free

The Loop Duty Free New Zealand has made one lucky traveller’s decade-long dream a reality, when she won their coveted ‘Win a Harley-Davidson’ competition. Aucklander, Victoria Silwood, rode away on a Harley-Davidson Street 500 motorcycle valued at ... More >>

January food prices rise 0.8% from year earlier

Thursday, 14 February 2019, 2:50 pm | BusinessDesk

Feb. 14 (BusinessDesk) - Food prices in January were 0.8 percent higher than a year earlier, driven by higher meat, grocery and take-away costs. More >>

NZ house sales fall in January, take longer

Thursday, 14 February 2019, 2:05 pm | BusinessDesk

Feb. 14 (BusinessDesk) - New Zealand's real estate turnover shrank in January as deals took longer to close and prices rose at a slower annual pace. More >>

CORRECT: Wrightson cleared to sell seeds business

Thursday, 14 February 2019, 2:04 pm | BusinessDesk

(Fixes size of gain in 5th paragraph in story that ran on Wednesday, Feb. 13) More >>

Entries Open for timely new LBGTI+ workplace Awards

Thursday, 14 February 2019, 2:01 pm | New Zealand Rainbow Excellence Awards

MEDIA RELEASE Entries Open for timely new LBGTI+ workplace Awards Entries open tomorrow for the inaugural Westpac New Zealand Rainbow Tick Excellence Awards, which will mark five years of the Rainbow Tick and recognise organisations making a difference ... More >>

Joint Venture Targets World Cup Success for Kiwi Businesses

Thursday, 14 February 2019, 1:47 pm | Leverage NZ

Atlas Events & Global Stage have partnered to form Leverage NZ, a joint venture to help Kiwi companies target major events to grow their export businesses. More >>

KiwiBuild will crowd out other home building: RBNZ

Thursday, 14 February 2019, 1:30 pm | BusinessDesk

Feb. 14 (BusinessDesk) - The Reserve Bank estimates that for every 100 houses built under the government's KiwiBuild programme over the next three years, between 50 and 75 other houses may not be built because of capacity constraints. More >>

Record First Half Result for Skellerup

Thursday, 14 February 2019, 12:54 pm | Skellerup Industries

Skellerup announced today a record half year unaudited net profit after tax of $13.4 million for the six months ending 31 December 2018. More >>

Skellerup lifts 1H profit 15% on strong industrial sales

Thursday, 14 February 2019, 12:52 pm | BusinessDesk

Feb. 14 (BusinessDesk) - Rubber goods maker Skellerup Holdings expects a further increase in record full-year earnings after strong growth in its industrial business boosted first-half profit by 15 percent. More >>