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Latest Business Headlines

MARKET CLOSE: NZ shares join global sell-off on Trump tweets

Monday, 26 August 2019, 8:55 pm | BusinessDesk

MARKET CLOSE: NZ shares join global sell-off on Trump's trade tweets; Freightways caution weighs More >>

Govt clamps down on web service providers after data breach

Monday, 26 August 2019, 8:30 pm | BusinessDesk

Aug. 26 (BusinessDesk) - A swathe of government departments have been ordered not to use web and information communications technology service providers not on an approved list following disclosure of a major data privacy breach over the weekend. More >>

NZ dollar rebounds in absence of feared yuan devaluation

Monday, 26 August 2019, 8:29 pm | BusinessDesk

Aug. 26 (BusinessDesk) - The New Zealand dollar rebounded from its lowest level against the greenback since 2015 after the People’s Bank of China didn't severely devalue the yuan, as many had feared, in retaliation to US President Donald Trump escalating ... More >>

Balanced consenting framework needed for renewables

Monday, 26 August 2019, 7:30 pm | BusinessDesk

Aug. 26 (BusinessDesk) - New Zealand requires a “significant uplift” in renewable generation investment if the country is to get anywhere close to its 2050 net-zero carbon target, Meridian Energy says. More >>

Lumpy imports drive bigger July trade deficit than expected

Monday, 26 August 2019, 7:28 pm | BusinessDesk

Aug. 26 (BusinessDesk) - New Zealand posted a much wider trade deficit than expected of $685 million in July but economists aren't fazed, saying it was skewed by lumpy imports. More >>

International demand for NZ wine at an all-time high

Monday, 26 August 2019, 7:19 pm | New Zealand Winegrowers

International demand for New Zealand wine shows no sign of slowing, with total export value reaching a record $1.83 billion according to the 2019 Annual Report of New Zealand Winegrowers. More >>

Alexandra Park Chief Executive

Monday, 26 August 2019, 6:57 pm | Alexandra Park

Epsom, Auckland 26 August. Auckland Trotting Club incorporating Alexandra Park function centre and raceway announces the appointment of Mauro Barsi to the position of Chief Executive. More >>

Aaron Davis appointed Harcourts National Auction Manager

Monday, 26 August 2019, 4:07 pm | Harcourts

Coming from a Harcourts family dynasty, you could say that Aaron Davis has real estate in his genes. Aaron’s father owned the Harcourts’ Blenheim franchise which is where Aaron cut his teeth on the business of selling residential real estate. He ... More >>

International demand for NZ wine at an all-time high

Monday, 26 August 2019, 3:59 pm | New Zealand Winegrowers

New Zealand Winegrowers has just released their 2019 Annual Report, which shows that international demand for New Zealand wine shows no sign of slowing. with total export value reaching a record $1.83 billion. More >>

Advanced Security is NZSA Security Integrator of the Year

Monday, 26 August 2019, 3:51 pm | Advanced Security Group Ltd

The New Zealand Security Association held its prestigious awards ceremony on Friday 23rd August 2019, which recognises excellence and outstanding service delivery provided by those who work within the security industry. More >>

Freightways' net profit rises despite NZ slowdown

Monday, 26 August 2019, 3:13 pm | BusinessDesk

Aug. 26 (BusinessDesk) - Freightways reported a lift in earnings as it raises prices and seeks to increase its efficiency against the backdrop of a slowing economy. It is targeting year-on-year earnings growth in the current financial year. More >>

Exactly how much should a coffee machine cost?

Monday, 26 August 2019, 3:04 pm | PriceSpy

Whilst some may be feeling inspired by The Block and kitting out their homes with the latest must-have appliances, research from fully impartial price and product comparison site, PriceSpy , uncovers new eye-opening insights that reveal dependent ... More >>

Tech Futures Lab + Salesforce team up to address skills gap

Monday, 26 August 2019, 3:02 pm | Tech Futures Lab

Tech Futures Lab and Salesforce today have announced a collaboration to offer New Zealanders sophisticated training in the world’s leading CRM (customer relationship management) cloud-based system. More >>

Company-X becomes RealWear reseller

Monday, 26 August 2019, 2:59 pm | Company X

HAMILTON, NEW ZEALAND, August 2019: Company-X has become the first and only Australasian reseller for head-mounted tablets from established global innovation leader, RealWear. More >>

Soil Health Field Day

Monday, 26 August 2019, 2:39 pm | Wholesale landscapes

A Soil Health Field Day, hosted by Wholesale Landscapes, will bring members of the viticulture industry together to discuss sustainable solutions for improved vineyard management. More >>

Reincarnated country pub and laundromat for sale

Monday, 26 August 2019, 1:58 pm | Bayleys

The reincarnated version of a popular provincial country pub which burnt to the ground three years ago – and is now believed to be the only hotel in New Zealand which doubles up as the town’s local laundromat - has been placed on the market for sale. More >>

Metlifecare lifts underlying annual net profit 4%

Monday, 26 August 2019, 1:28 pm | BusinessDesk

Metlifecare’s annual net profit fell 68 percent because of smaller gains in the fair value of its retirement villages but underlying profit was up 4 percent and underlying operating cash flow rose 2 percent. More >>

Chorus CEO McKenzie to leave this year

Monday, 26 August 2019, 12:37 pm | BusinessDesk

Aug. 26 (BusinessDesk) - Chorus chief executive Kate McKenzie will leave the telecommunications lines company at the end of 2019, having overseen the completion of the ultrafast broadband fibre network's first tranche. More >>

Supreme Court to hold oral hearing on Synlait's appeal

Monday, 26 August 2019, 12:12 pm | BusinessDesk

Aug. 26 (BusinessDesk) - The Supreme Court has advised there will be an oral hearing prior to a decision on whether it grants Synlait Milk's bid to a appeal the reinstatement of land covenants on its Pokeno site. More >>

Meridian posts record profit on high production, prices

Monday, 26 August 2019, 12:10 pm | BusinessDesk

Aug. 26 (BusinessDesk) - Meridian Energy reported record full-year earnings, boosted by higher power prices and generation volumes and a growing customer book in Australia. More >>

Intuit on track to overtake Xero outside the US

Monday, 26 August 2019, 12:09 pm | BusinessDesk

Aug. 26 (BusinessDesk) - United States-based Intuit increased its subscribers in the US at a steady pace in its fourth quarter but increased momentum in gains outside the US, suggesting it may soon overtake Xero as market leader. More >>

Finalists for 2019 NZI Sustainable Business Network Awards

Monday, 26 August 2019, 12:00 pm | Sustainable Business Network

Judges for the 2019 NZI Sustainable Business Network Awards have announced the line-up of finalists after another record year of entries. More >>

NSPR Expands Sustainability Clients

Monday, 26 August 2019, 12:00 pm | Better Packaging Co.

Monday 26 August 2019 – The Better Packaging Co has appointed NSPR, known for their experience and knowledge in the sustainability space, as its PR agency. The Better Packaging Co was established in March 2018 by Rebecca Percasky and Kate Bezar ... More >>

MOH says no vaping issues here, let’s keep it that way

Monday, 26 August 2019, 11:55 am | Alt New Zealand

“New Zealanders can be reassured by the latest confirmation from the Ministry of Health that there have been no reported mystery lung illnesses linked anyway to vaping here, says Ben Pryor, Director of Alt New Zealand – the largest Kiwi-owned ... More >>

Fasten seatbelts for the Trump twitter-storm fallout

Monday, 26 August 2019, 11:52 am | BusinessDesk

Aug. 26 (BusinessDesk) - It will be a case of fasten your seat belts and expect turbulence as markets across Asia open today after the escalation of the US-China trade war, US President Donald Trump's tweets labelling his own Federal Reserve chair Jerome ... More >>

Analysts pan Fletcher results, one comparing it to Fonterra

Monday, 26 August 2019, 11:44 am | BusinessDesk

Aug. 26 (BusinessDesk) - Fletcher Building managing director Ross Taylor’s hopes that the market will recognise his achievements to date have been dashed. More >>

Iron deficiency is suffocating our teen girls

Monday, 26 August 2019, 11:36 am | NZ Beef and Lamb

As World Iron Awareness Week kicks off, Beef + Lamb New Zealand shines a spotlight on the epidemic young women are facing in relation to iron deficiency for meat eaters and non-meat eaters alike. More >>

Lower yield and marketing efforts to flatline profits

Monday, 26 August 2019, 11:03 am | BusinessDesk

Aug. 26 (BusinessDesk) - A lower yielding vintage and a yet-to-be deployed marketing effort will hamper profit growth for Delegat Group next financial year despite an expected boost in wine sales. More >>

NZ dollar down on US-China trade jitters

Monday, 26 August 2019, 10:58 am | BusinessDesk

Aug. 26 (BusinessDesk) - The New Zealand dollar fell on renewed concerns about US-China trade tensions as both sides announced further tariffs. More >>

High-profile ridge-top suburban retail block for sale

Monday, 26 August 2019, 10:55 am | Bayley's Real Estate

A long-standing and prominent corner-axis block of retail shops in suburban Auckland has been placed on the market for sale – with the potential for developing the site into an apartment complex. More >>

Butter exports halved in July

Monday, 26 August 2019, 10:46 am | Statistics New Zealand

Key commodity exports of butter, milk powder, logs, and meat all fell in July 2019, with butter alone down by half on a year ago, Stats NZ said today. More >>

New Trans Tasman Property Finance JV

Monday, 26 August 2019, 10:16 am | Bayleys

Australian specialist real estate financier MaxCap Group is setting up operations in New Zealand in a joint venture with real estate company Bayley Corporation and investment advisory firm Forsyth Barr. More >>

Māori recruitment into Police on the rise

Monday, 26 August 2019, 10:10 am | New Zealand Police

When Recruit Wing 327 graduated on 4 July this year, these proud Māori constables wore their family kākahu which all have special meaning for them and their whanau. More >>

Thousands of New Zealanders stay silent on scams

Monday, 26 August 2019, 9:35 am | Bank of New Zealand

New research from Bank of New Zealand (BNZ) shows that: • 15% of Kiwis who lose money to scams suffer in silence and tell no one • More than half of Kiwis (58%) who fall victim to scams do not report the crime • 13% of New Zealanders are hesitant ... More >>

Air New Zealand jets off to Invercargill

Monday, 26 August 2019, 9:15 am | Air New Zealand

Air New Zealand’s inaugural direct scheduled jet flight between Auckland and Invercargill will take off from Auckland Airport this evening. The flight departs Auckland shortly after 7:30pm and is expected to arrive in the deep south at 9:35pm. Air New Zealand ... More >>

Cookie Project unveils QR code technology

Monday, 26 August 2019, 9:04 am | The Cookie Project

Social enterprise The Cookie Project has unveiled new packaging to help break down social stigmas around disabilities. A first in the country, the cookie packaging brings real person traceability to life via QR code technology, allowing consumers ... More >>

Fibre demand at record levels as rollout remains on track

Monday, 26 August 2019, 9:02 am | Chorus

Chorus has today reported earnings before interest, tax, depreciation and amortisation (EBITDA) of $636m for the year ended 30 June 2019, in line with guidance. More >>

XE Morning Update - August 26, 2019

Monday, 26 August 2019, 8:33 am | XE Morning Update

NZDUSD 0.6383 0.3% NZDEUR 0.5721 -0.4% NZDGBP 0.5201 0.2% NZDJPY 67.05 -1.0% NZDAUD 0.9475 0.6% NZDCAD 0.8491 0.3% GBPNZD 1.9227 -0.1% More >>

Cradle Wins Xero Award for the Human Touch

Monday, 26 August 2019, 8:21 am | Cradle

Bringing the ‘human’ back to an increasingly digital world has helped set Cradle apart for businesses that truly care about their customers More >>

Home Comforts

Monday, 26 August 2019, 8:10 am | ASB Bank

“Mild improvements in affordability have no doubt been a driver. Wage growth has picked up alongside flat/falling house prices in Auckland and Canterbury, and it appears the general public got the hint on interest rates,” says ASB chief economist ... More >>

Vendor shouts Singaporean trip for buyer’s inspiration

Sunday, 25 August 2019, 4:52 pm | Century 21 Real Estate

Instead of forcing her own redecoration tastes onto the next owner, a North Shore vendor is selling her property as is but sending the successful purchaser to Singapore to be inspired. More >>

Community bookshop wins owners lifetime achievement award

Sunday, 25 August 2019, 11:50 am | Booksellers NZ

Forty years ago, then 25-year-old Rob Clarke had a fateful phone call from his mother, asking him if he’d like to run a bookshop in Paraparaumu. Tonight, he and his wife Kaye have been jointly awarded the Lifetime Achievement Award at the 2019 Book Trade ... More >>

Finalists announced for Excellence Awards

Sunday, 25 August 2019, 11:39 am | National Association of Women in Construction

The National Association of Women in Construction NZ (NAWIC) were delighted to have received a significant increase in entry numbers for their fifth annual Excellence Awards, this year in partnership with BCITO. More >>

Papageorge wins $10,000 NZIOB Charitable Trust Scholarship

Saturday, 24 August 2019, 12:05 pm | NZ Institute of Building

Armano Papageorge, a PhD student from Victoria University of Wellington’s School of Architecture has won this year’s New Zealand Institute of Building Charitable Trust (NZIOB Charitable Trust) scholarship. More >>

2019 New Zealand Building Industry Awards

Saturday, 24 August 2019, 12:04 pm | NZ Institute of Building

NZIOB announces the winners of the 2019 New Zealand Building Industry Awards The New Zealand Institute of Building ( NZIOB ) announced the winners of the 2019 New Zealand Building Industry Awards on Friday, 23 August at a gala evening at the Cordis ... More >>

MARKET CLOSE: NZ shares fall as rate outlook weighs

Friday, 23 August 2019, 8:55 pm | BusinessDesk

Aug. 23 (BusinessDesk) - New Zealand shares fell as diminishing expectations for interest rates to go lower sapped the appeal of companies held for their dividends such as Meridian Energy and Chorus. Skellerup led the index lower after reporting ... More >>

NZ dollar rises after Orr talks up the economy

Friday, 23 August 2019, 8:17 pm | BusinessDesk

Aug. 23 (BusinessDesk) - The New Zealand dollar rose after Reserve Bank governor Adrian Orr painted a rosy picture of the local economy and described the 50 basis point cut in the official cash rate earlier this month as “a pre-emptive double ... More >>

UPDATE: WEL reviewing capital structure of fibre business

Friday, 23 August 2019, 7:48 pm | BusinessDesk

Aug. 23 (BusinessDesk) - Aug. 23 (BusinessDesk) - WEL Networks is reviewing the capital structure of its Ultrafast Fibre subsidiary. More >>

Ziwi Wins Exporter of the Year Award

Friday, 23 August 2019, 7:47 pm | Ziwi

Ziwi Wins Exporter of the Year Award Mt Maunganui based specialty pet food manufacturer, Ziwi, has won the prestigious American Chamber of Commerce award for large exporter to the USA. Ziwi, which has had phenomenal growth in the massive USA market, picked ... More >>

Big pay rises as Sanford workers ratify new pay deal

Friday, 23 August 2019, 4:58 pm | E Tu

E tū members at Sanford Bluff are celebrating big pay rises after they voted unanimously to accept the company’s pay offer following wage bargaining last week. More >>

Comvita posts $27.7m net loss on goodwill write-downs

Friday, 23 August 2019, 4:51 pm | BusinessDesk

Aug. 23 (BusinessDesk) - Honey products company Comvita posted a $27.7 million annual net loss after writing off $20.1 million of goodwill. More >>

Buyers emerge for Denton Morrell client book

Friday, 23 August 2019, 4:29 pm | BusinessDesk

Aug. 23 (BusinessDesk) - Liquidators for Denton Morrell are in talks with parties to pick up parts of the defunct firm’s client, as more information about its liquidation can be made public. More >>

WEL reviewing capital structure of fibre business

Friday, 23 August 2019, 4:04 pm | BusinessDesk

Aug. 23 (BusinessDesk) - WEL Networks is reviewing the capital structure of its Ultrafast Fibre subsidiary. More >>

Cavalier announces collaboration with NZ Merino Company

Friday, 23 August 2019, 4:01 pm | BusinessDesk

Aug. 23 (BusinessDesk) - Cavalier Corp announced a "collaboration" with the New Zealand Merino company as it looks to cash in on a growing consumer trend toward natural fibres and away from synthetics. More >>

Development site with former post office premises for sale

Friday, 23 August 2019, 3:59 pm | Bayleys

A character commercial building previously operating as a pioneering suburban post office for nearly 90 years has been placed on the market for sale. More >>

Paymark wins bid to keep some secrets from rival

Friday, 23 August 2019, 3:11 pm | BusinessDesk

Aug. 23 (BusinessDesk) - A High Court judge has ruled against an attempt by the founder of locally owned Payment Express, Andy Cullen, to peruse confidential documents relating to its competitor, French-owned Paymark's pricing and strategy as part of a “hard-fought” ... More >>

NZ retail sales growth stalls in June

Friday, 23 August 2019, 2:56 pm | BusinessDesk

Aug. 23 (BusinessDesk) - Retail sales growth stalled in the June quarter, although rising prices helped the value of sales catch up from a lull earlier in the year. More >>

NZTA Policy Decision Removes Uncertainty VINZ

Friday, 23 August 2019, 2:18 pm | Vehicle Inspection New Zealand

Auckland, 23 August 2019 Vehicle Inspection New Zealand (VINZ) says that NZTA’s decision not to change its operational policy on the appointment of vehicle entry certification companies has removed uncertainty in the vehicle import and inspection ... More >>

Delegat continues to invest after record year

Friday, 23 August 2019, 2:15 pm | BusinessDesk

Aug. 23 (BusinessDesk) - Delegat Group, New Zealand’s biggest listed winemaker, lifted operating net profit by 14 percent in the June 2019 year, but indicated it was unlikely to make further gains next year. More >>

Kiwibank's annual profit eases as fee income drops

Friday, 23 August 2019, 2:07 pm | BusinessDesk

Aug. 23 (BusinessDesk) - Kiwibank’s annual net profit fell $7 million, reflecting both lower fee income and one-off gains in the previous year. More >>