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MARKET CLOSE: NZ shares dip, Air NZ, NZ Refining fall

Monday, 25 June 2018, 8:36 pm | BusinessDesk

June 25 (BusinessDesk) - New Zealand shares fell, led by Air New Zealand and NZ Refining while Kathmandu Holdings surged to a three-and-a-half-year high. More >>

NZ dollar falls slightly against USD

Monday, 25 June 2018, 8:21 pm | BusinessDesk

June 25 (BusinessDesk) - The New Zealand dollar was slightly weaker against the greenback as investors awaited any more news on the trade front as well as this week's cash rate decision from New Zealand's central bank. More >>

Bank sales tactics putting customer interests at risk

Monday, 25 June 2018, 8:19 pm | BusinessDesk

June 25 (BusinessDesk) - A new report shows bank staff are under increasing pressure to sell products such as KiwiSaver, insurance and credit cards to their customers, despite being urged last year to clean up their sales tactics. More >>

Veritas shareholders overwhelmingly back refinancing deal

Monday, 25 June 2018, 7:40 pm | BusinessDesk

June 25 (BusinessDesk) - Veritas Investments shareholders overwhelmingly backed a $27.5 million refinancing deal with Japan's Nomura Holdings which gives the operator of the Better Bar Co a new lease of life. More >>

Status of MBIE leaker remains confidential

Monday, 25 June 2018, 6:49 pm | BusinessDesk

June 25 (BusinessDesk) - State Services Minister Chris Hipkins has removed a cap on core public servant numbers he says caused a $272 million blowout in consultant fees paid by government departments over 10 years. More >>

Banks Pushing Insurance Policies Annoys Customers

Monday, 25 June 2018, 4:44 pm | MoneyHub

MoneyHub continues to receive complaints from readers who feel their banks are being irresponsible and annoying by pushing their staff to sell insurance during routine customer interactions. MoneyHub calls on this practice to be regulated with banks ... More >>

Kathmandu shares rise after profit upgrade

Monday, 25 June 2018, 4:15 pm | BusinessDesk

June 25 (BusinessDesk) - Kathmandu Holdings shares jumped nearly 15 percent after the outdoor equipment retailer said it expects to increase profit this year on higher sales and better margins, with the market picking it could deliver at the top end ... More >>

Innovative education portal for Electricity Authority

Monday, 25 June 2018, 3:56 pm | Electricity Authority

The Electricity Education Portal, released today, on the Electricity Authority website, is a first for the energy sector in New Zealand. More >>

NZ economy - risky business

Monday, 25 June 2018, 3:50 pm | Business NZ

The BusinessNZ Planning Forecast for the June 2018 quarter shows that though many key economic indicators remain on the positive side of the ledger, there are a number of risks that could undermine what is currently a generally healthy outlook. More >>

NZ structural log prices hit 25-year high

Monday, 25 June 2018, 3:23 pm | BusinessDesk

June 25 (BusinessDesk) - New Zealand structural log prices rose to the highest level for 25 years as local mills compete with the export market to secure supply for the domestic construction market amid strong demand from China. More >>

NZer John Gordon No. 6 Barista in the World

Monday, 25 June 2018, 3:07 pm | New Zealand Specialty Coffee Association

New Zealander John Gordon No. 6 Barista in the World Monday 25 June 2018 Kiwis’ love of coffee has been affirmed with one of our baristas being named one of the best in the world. More >>

Vintage 2018 benefits from warm summer

Monday, 25 June 2018, 2:35 pm | NZ Winegrowers

A warm summer benefited New Zealand’s winegrowing regions, with 419,000 tonnes of grapes harvested during Vintage 2018. More >>

One in five part-timers are underemployed

Monday, 25 June 2018, 2:13 pm | Statistics New Zealand

In 2017, one in five (20.6 percent) part-time workers wanted and were available to work more hours, Stats NZ said today. Underemployed people are those who work part time (fewer than 30 hours a week), but want and are available to increase their hours. More >>

James & Wells proud to announce new partnership

Monday, 25 June 2018, 2:10 pm | James and Wells

Specialist intellectual property firm James & Wells is proud to announce their partnership with New Zealand SME business growth centre, The Icehouse. More >>

House hunting completely transformed in a New Zealand first

Monday, 25 June 2018, 2:05 pm | Barfoot and Thompson

Barfoot & Thompson has opened the door to world-class interactive property marketing tools set to revolutionise the way Aucklanders buy and sell real estate. More >>

Weekend wrap-up: winter well and truly has hit

Monday, 25 June 2018, 1:53 pm | Coronet Peak

The weekend’s snowfall has completely re-blanketed The Remarkables and Coronet Peak ski fields in Queenstown. More >>

Views sought on application to introduce new insecticide

Monday, 25 June 2018, 1:23 pm | Environmental Protection Authority

The EPA is calling for submissions on an application to approve an insecticide called Vayego for use in New Zealand. More >>

Off-site construction factories for KiwiBuild homes sought

Monday, 25 June 2018, 1:14 pm | BusinessDesk

June 25 (BusinessDesk) - New Zealand’s government will invite companies, both domestic and overseas, to express their interest in setting up or expanding off-site manufacturing factories for KiwiBuild homes, a government construction program aimed ... More >>

Kathmandu forecasts lift in annual profit on higher margins

Monday, 25 June 2018, 1:12 pm | BusinessDesk

Kathmandu forecasts lift in annual profit on higher margins, sales; shares jump to month high More >>

NZ Refining shutdown to trim $40 mln from annual profit

Monday, 25 June 2018, 1:11 pm | BusinessDesk

June 25 (BusinessDesk) - New Zealand Refining shares fell after the Marsden Point refinery operator said a longer planned outage than anticipated will cost more and hit the bottom line harder than previously forecast. More >>

Stuff and RNZ release new crime podcast

Monday, 25 June 2018, 12:59 pm | Stuff

Stuff and RNZ combine for a groundbreaking podcast investigation. In an eight-part series released today, Gone Fishing tells the story of a woman serving a life sentence for ordering the murder of a man. But she says she never even met him. In fact, she ... More >>

It’s all about keeping it simple

Monday, 25 June 2018, 12:43 pm | Kiwibank

It’s all about keeping it simple • The RBNZ is set to deliver another simple and consistent message at Thursday’s OCR Review. That is, until inflation is well on its way to the 2% target midpoint the OCR is going nowhere. • US President Trump ... More >>

My Food Bag says ‘Yeah, Nah’ to German-multinational

Monday, 25 June 2018, 12:28 pm | My Food Bag

My Food Bag delivers a hearty ‘Yeah, Nah’ to German-multinational corporation My Food Bag has given German-multinational corporation HelloFresh a lesson in how Kiwis roll after the global bigwigs threatened legal action over use of the word ... More >>

Outdoor adventure property sale set to rope in new owners

Monday, 25 June 2018, 12:26 pm | Bayleys

An outdoor adventure centre containing a significant New Zealand commercially-accessed underground caving network has been placed on the market for sale. More >>

Cove sells NZs first insurance policy via chatbot

Monday, 25 June 2018, 12:22 pm | Cove Insurance

Auckland based Cove Insurance , who earlier this month announced their coverholder status with Lloyd’s of London, has sold what is believed to be New Zealand's first insurance policy by a chatbot. More >>

Ruapehu Business Park, Stage 1 commercialisation set to go

Monday, 25 June 2018, 12:09 pm | Bayleys

Palmerston North Airport has engaged the services of Bayleys Real Estate to manage the commercialisation of Stage 1 land (Zones A & C) of Ruapehu Business Park. More >>

Confidence fuelling redevelopment of Bay properties

Monday, 25 June 2018, 11:49 am | Logan Stone

Hawke’s Bay’s strong economy, underpinned by well-performing primary industries, a tourism boom, buoyant construction industry, and the low interest rate environment, is driving redevelopment of commercial and industrial properties around the region. More >>

Backpacker lodge for sale a business opportunity

Monday, 25 June 2018, 11:47 am | Bayleys

Backpacker lodge for sale turns out to be a business opportunity at the rainbow’s end More >>

NZ dollar holds above 69 US cts

Monday, 25 June 2018, 11:40 am | BusinessDesk

June 25 (BusinessDesk) - The New Zealand dollar held above 69 US cents as the Organisation of the Petroleum Exporting Countries' move to boost production lifted prices for raw materials, supporting demand for commodity-linked currencies. More >>

Air New Zealand Waste Reduction Accelerates

Monday, 25 June 2018, 11:22 am | Air New Zealand

Air New Zealand’s latest initiative to reduce inflight waste has seen more than 132 tonnes diverted from landfill in its first nine months – the equivalent weight of three of the airline’s A320 aircraft. More >>

The key to career success as a Construction Manager

Monday, 25 June 2018, 11:18 am | Hays Recruitment

A diverse technical foundation and strong communication, problem solving and decision making soft skills are required for any aspiring Construction Manager, according to recruiting experts Hays Construction. More >>

Fine Food New Zealand recognises industry innovations

Monday, 25 June 2018, 10:33 am | Fine Food NZ

It’s the country’s largest trade event for the foodservice, food retail and hospitality industries and it only rolls around once every two years: the winners have been announced at the Fine Food New Zealand Innovation Awards and taking the top honour is Kaitahi™ ... More >>

Gull predicts queues at pumps and uncertainty for businesses

Monday, 25 June 2018, 10:26 am | Gull Petroleum

Gull today expressed concerns over rushed Regional Fuels Tax legislation that carries negative implications for both Kiwi motorists and a range of commercial fuel-using businesses. More >>

Historic house needs new lease of life

Monday, 25 June 2018, 10:05 am | Wellington City Council

Wellington City Council is looking for a long-term community focused or NGO tenant to lease a historically significant house located in Khandallah Park. The former Khandallah custodian’s residence located at 86 Clark Street, has local historical ... More >>

Bayer Hawke’s Bay Young Viticulturist of the Year

Monday, 25 June 2018, 9:58 am | Young Viticulturist of the Year

Congratulations to Jonathan Hunt from Delegats, Crownthorpe Vineyard, who became the Bayer Hawke’s Bay Young Viticulturist of the Year 2018 on Thursday 21st June. More >>

Building companies penalised for turning blind eye

Monday, 25 June 2018, 9:22 am | Ministry of Business Innovation and Employment

Two Auckland building companies operated by a sole director have been penalised $7,500 for serious breaches to employment law as well as failing to comply with an improvement notice. More >>

HiFX morning Update June 25 2018

Monday, 25 June 2018, 8:25 am | HiFX

The NZDUSD opens at 0.6915 (mid-rate) this morning. The NZD pushed higher throughout our trading day on Friday and managed to hold on to its gains with a lack of US economic data resulting in light trading flows. The EUR rallied on Friday after the Euro-zone ... More >>

Ziwi Wins Export NZ Award

Sunday, 24 June 2018, 1:19 pm | Ziwi

Mount Maunganui based premium petfood manufacturer, Ziwi, has taken top honours at the 2018 Zespri BOP ExportNZ Awards. The company scooped the title of Best Medium to Large Business Exporter at the awards on Friday night, which, in their 28th year, ... More >>

11th National Pacific Business Trust Awards

Saturday, 23 June 2018, 12:33 pm | Pacific Business Trust

Winners of the 11th National Pacific Business Trust Awards were celebrated at the historic Eden Park last night (Friday 22nd June 2018) with Pacific businesses and social enterprises recognised. More >>

MARKET CLOSE: NZ shares rise after bumpy week

Friday, 22 June 2018, 8:39 pm | BusinessDesk

MARKET CLOSE: NZ shares rise after bumpy week, led by NZ Refining, Synlait while Port of Tauranga, A2 drop More >>

NZ dollar heads for 0.7% weekly decline

Friday, 22 June 2018, 8:08 pm | BusinessDesk

NZ dollar heads for 0.7% weekly decline as trade jitters weigh on markets By Rebecca Howard More >>

Mining industry says no more projects the size of Te Kuha

Friday, 22 June 2018, 7:36 pm | BusinessDesk

Mining industry says no more projects the size of Te Kuha, but smaller ones waiting More >>

Goodman Fielder seeks ComCom permission to buy Yoplait right

Friday, 22 June 2018, 7:30 pm | BusinessDesk

June 22 (BusinessDesk) - Goodman Fielder New Zealand, which owns a number of dairy brands including Meadow Fresh and Puhoi Valley, wants to buy the rights to make and sell Yoplait branded yoghurt in New Zealand. More >>

RBNZ's Orr tipped to stand pat

Friday, 22 June 2018, 7:27 pm | BusinessDesk

RBNZ's Orr tipped to stand pat and could signal hikes might take even longer More >>

Consistency across port reporting would boost transparency

Friday, 22 June 2018, 7:24 pm | BusinessDesk

June 22 (BusinessDesk) - A variety of accounting treatments used by the country's port companies makes it hard to compare and greater alignment would increase transparency, says deputy Auditor-General Greg Schollum. More >>

Fletcher's Ross says no change to B+I provisions

Friday, 22 June 2018, 7:23 pm | BusinessDesk

Fletcher's Ross says no change to B+I provisions, won't comment on delays in Chch airport hotel More >>

SeaDragon auditor seeking asset valuation evidence

Friday, 22 June 2018, 5:28 pm | BusinessDesk

June 22 (BusinessDesk) - SeaDragon's annual accounts got a black mark from its auditors for a second year, with PwC declining to express an opinion on the financial statements after failing to find enough evidence supporting the fish oil supplement maker's ... More >>

Bendon Merges with Naked Brand

Friday, 22 June 2018, 4:31 pm | Wynn Williams

The Corporate Advisory team at law firm Wynn Williams has recently acted for Bendon on its merger with Naked Brand and its stock exchange listing on the Nasdaq. More >>

2018 Fonterra Board of Directors’ Election

Friday, 22 June 2018, 4:06 pm |

Nominations for the Fonterra Board of Directors’ Election open Friday, 6 July with an election to be held for three farmer-elected Directors. More >>

Goodman Fielder seeks clearance to acquire 'Yoplait'

Friday, 22 June 2018, 3:46 pm | Commerce Commission

Fielder New Zealand Limited to acquire assets related to the manufacture and distribution of ‘Yoplait’ branded yoghurt in New Zealand from Lion - Dairy & Drinks (NZ) Limited. More >>

Leaky school claim against Carter Holt about a year away

Friday, 22 June 2018, 3:26 pm | BusinessDesk

Education Ministry's leaky school claim against Carter Holt about a year away By Paul McBeth More >>

NZ may produce record volumes of milk this season

Friday, 22 June 2018, 3:03 pm | BusinessDesk

June 22 (BusinessDesk) - New Zealand milk production may grow to a record of nearly 23 billion litres in the 2018/19 season, bolstered by a favourable milk price and adequate feed reserves, and assuming normal weather conditions, according to Rabobank’s ... More >>

ANZ Bank unlikely to get millions owed by Pumpkin Patch

Friday, 22 June 2018, 3:02 pm | BusinessDesk

June 22 (BusinessDesk) - Failed children's clothing retailer Pumpkin Patch is unlikely to be able to pay back the millions it owes to ANZ Bank while unsecured creditors will get zilch, according to the latest report by the company's receivers KordaMentha. More >>

Record entries for Hawke’s Bay Young Fruitgrower competition

Friday, 22 June 2018, 2:36 pm | Horticulture NZ

Eight of Hawke’s Bay’s top young horticulturists will face off in the Hawke’s Bay Young Fruitgrower of the Year competition in Napier on Thursday 28 and Friday 29 June. More >>

NZ annual net migration falls in May

Friday, 22 June 2018, 2:19 pm | BusinessDesk

June 22 (BusinessDesk) - New Zealand's annual net migration fell in May as the number of foreigners arriving stayed the same but the number of New Zealanders and foreigners leaving rose. More >>

Bank conduct and culture review - on site visits

Friday, 22 June 2018, 1:55 pm | Reserve Bank

The joint Financial Markets Authority and Reserve Bank review of conduct and culture in the New Zealand banking sector is progressing rapidly. More >>

Steel & Tube agrees to $21.1M sale-and-leaseback

Friday, 22 June 2018, 1:30 pm | BusinessDesk

June 22 (BusinessDesk) - Steel & Tube Holdings said it agreed to a $21.1 million sale-and-leaseback deal of its Blenheim Road property in Christchurch, a key distribution hub for the company, as part of its restructuring efforts to raise working capital ... More >>

AG: Letter to Port Companies on audits

Friday, 22 June 2018, 1:05 pm | Controller and Auditor-General

Port companies: matters arising from our 2016/17 audits 19 June 2018 Letter sent on 19 June 2018 to chief executives and chairs of port companies by Greg Schollum, Deputy Controller and Auditor-General giving a brief summary of the main matters ... More >>

Michael Hill will close six remaining Emma & Roe stores

Friday, 22 June 2018, 12:49 pm | BusinessDesk

June 22 (BusinessDesk) - Michael Hill International said it plans to close the remaining six stores of its Emma & Roe chain as well as the sub-brand’s online business at a total cost of no more than $3.1 million, a move allowing the Brisbane-based jewellery ... More >>

Fletcher Building refreshes board chair and directors

Friday, 22 June 2018, 12:40 pm | BusinessDesk

June 22 (BusinessDesk) - Fletcher Building's outgoing chair Ralph Norris announced the board's audit and risk committee chair Bruce Hassall will succeed him when he steps down from the troubled building company in September. More >>