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Latest Business Headlines

MARKET CLOSE: NZ shares buoyed by prospect of low rates

Monday, 23 September 2019, 9:07 pm | BusinessDesk

Sept. 23 (BusinessDesk) - New Zealand shares rose, bucking international leads, as the prospect of persistently low interest rates continues to buoy the local equity market. Spark New Zealand defied negative headlines to end the day stronger. More >>

NZ dollar bounces off four-year low; seen weaker

Monday, 23 September 2019, 8:26 pm | BusinessDesk

Sept. 23 (BusinessDesk) - The New Zealand dollar rose but remained near a four-year low as optimism for a trade deal between the United States and China fades. More >>

Strong appetite for investments that deliver social impact

Monday, 23 September 2019, 7:37 pm | University of Auckland

Impact investing is set to grow exponentially in Aotearoa New Zealand over coming years with strong interest from all types of investors including those not yet active in the field, according to a landmark study launched today. More >>

Vector urges regulatory change due to low-interest-rates

Monday, 23 September 2019, 7:11 pm | BusinessDesk

Sept. 23 (BusinessDesk) - Directors at lines company Vector are pleading for regulatory changes, claiming the low-interest-rate environment is presenting new challenges. More >>

Govt moves against Supreme Court 'black hole' tax ruling

Monday, 23 September 2019, 7:10 pm | BusinessDesk

Sept. 23 (BusinessDesk) - The government confirmed today it will legislate to return the tax deductible status of feasibility study spending after a surprise Supreme Court ruling three years ago up-ended the Inland Revenue Department's advice on the ... More >>

Qantas CFO Race Strauss to join A2 Milk as CFO

Monday, 23 September 2019, 7:08 pm | BusinessDesk

Sept. 23 (BusinessDesk) - Race Strauss will join the A2 Milk Company as chief financial officer in the second half of the current financial year. More >>

Climate Committee seeks data, evidence

Monday, 23 September 2019, 7:07 pm | BusinessDesk

Sept. 23 (BusinessDesk) - The Interim Climate Change Committee is seeking additional evidence to broaden work it is doing to help prepare the first carbon budgets required under the country’s proposed zero-carbon legislation. More >>

Spark's wobbly world cup start raises stakes for live-stream

Monday, 23 September 2019, 7:06 pm | BusinessDesk

Sept. 23 (BusinessDesk) - Spark New Zealand will face greater scepticism from sporting bodies and the wider public about its ability to stream live sports after falling back on Television New Zealand for the All Blacks' first match in the Rugby World ... More >>

Innovation and Excellence in Air Quality Awards 2019

Monday, 23 September 2019, 7:01 pm | Clean Air Society

CASANZ Innovation and Excellence in Air Quality Awards 2019: Winners announced For immediate release The 2019 Innovation and Excellence in Air Quality Awards were presented last week at the 24th International Clean Air and Environment Conference, held in ... More >>

An algorithm dunnit: anatomy of Spark's mid-match surrender

Monday, 23 September 2019, 5:44 pm | BusinessDesk

Friday night's Rugby World Cup opening ceremony and first match, Japan vs Russia, rolled down the international telecommunications cables to New Zealand so seamlessly for Spark Sport that freshly departed Spark chief executive Simon Moutter couldn't ... More >>

Hefty fine shows why Ritchies needs proper scrutiny

Monday, 23 September 2019, 5:07 pm | FIRST Union

A nearly $1 million dollar fine incurred by Ritchies Transport Holdings after admitting a health and safety charge on a bus crash that killed three and injured twenty-seven others shows why the company needs more scrutiny from the New Zealand Transport Agency ... More >>

Tax changes will benefit small and medium businesses

Monday, 23 September 2019, 4:55 pm | Business Central

The two upcoming tax policy changes announced today will assist small and medium businesses to grow, says Business Central. More >>

KiwiSaver users' demand for responsible investing increases

Monday, 23 September 2019, 4:52 pm | Kiwi Wealth

Kiwi Wealth’s annual responsible investment survey shows an overwhelming 89% of Kiwis expect their KiwiSaver funds to be invested responsibly. Online extremism is a notable new issue Kiwis want their KiwiSaver provider to take action on. More than ... More >>

SugarTree Apartments set benchmark for future projects

Monday, 23 September 2019, 3:12 pm | Sugartree

The largest apartment project in New Zealand has come in on time and under budget going against the current trend of struggling developments and delays in the property sector. More >>

Goodbye Winter - Hello Asparagus!

Monday, 23 September 2019, 2:15 pm | Horticulture NZ

Every September winter-weary shoppers across the country are thrilled to see one of the first (and most tasty) signs of spring hit the supermarket shelves. Along with daffodils, the country’s asparagus harvest is a welcome signal of warmer days ... More >>

Policy on banks' reporting of breaches to aid transparency

Monday, 23 September 2019, 2:07 pm | Reserve Bank

The Reserve Bank will be reporting material breaches from banks on its website from next year, in an effort to improve transparency and market discipline. More >>

Stanley-Tallwood liquidator deal over KiwiBuild development

Monday, 23 September 2019, 1:48 pm | BusinessDesk

Sept. 23 (BusinessDesk) - The liquidator for Stanley Group and Tallwood Holdings has cut a deal with the developer of 23 KiwiBuild homes to get subbies paid out immediately. More >>

Plans finalised for major community precinct

Monday, 23 September 2019, 1:46 pm | Remarkables Park

A multi-generational community precinct has been announced today for Remarkables Park, Queenstown’s fast-growing commercial, visitor accommodation and residential district. More >>

Proposed business tax changes help start-ups attract capital

Monday, 23 September 2019, 1:39 pm | NZ Private Capital

Proposed changes to business tax rules announced today by the Government have been welcomed by NZ Private Capital. More >>

RBNZ expected to keep OCR at 1% but leave door open

Monday, 23 September 2019, 12:53 pm | BusinessDesk

Sept. 23 (BusinessDesk) - The Reserve Bank of New Zealand is widely expected to keep the official rate on hold at Wednesday's review while leaving the door open for further cuts by signalling a shaky global and domestic economic outlook. More >>

Z launches first Habitual Fix

Monday, 23 September 2019, 12:06 pm | Z Energy

Service stations are typically known for packaged snacks and limited fresh food options but Z is flipping the typical service station model on its head with the launch of its first in-store Habitual Fix to make finding fresh food easier for those on the ... More >>

NZ economy slowdown

Monday, 23 September 2019, 12:02 pm | Business New Zealand

International and domestic factors are contributing to a slowing economy, according to the latest BusinessNZ Planning Forecast. More >>

Proposed business tax changes welcomed

Monday, 23 September 2019, 11:38 am | Business New Zealand

Changes to business tax rules recommended by the Tax Working Group have been welcomed by BusinessNZ. More >>

Mkoin Offering Kiwis a Secure Cryptocurrency Platform

Monday, 23 September 2019, 11:36 am | Mkoin

Summary: Mkoin is a new Kiwi company providing a secure cryptotrading platform to its clients that uses the latest high-tech crypto trading technology developed in the USA. More >>

Watch for signs of domestic and global corporate health

Monday, 23 September 2019, 11:26 am | BusinessDesk

Sept. 23 (BusinessDesk) - While central banks on both sides of the Tasman will take centre stage downunder this week, there will also be plenty of information about corporate and economic health both domestically and globally. More >>

Govt will have to pay up for high-rise

Monday, 23 September 2019, 11:20 am | BusinessDesk

Sept. 23 (BusinessDesk) - If New Zealand's construction industry is to thrive, the bottom line is that clients, particularly government ones, are going to have to pay more for buildings. More >>

2018 Census External Data Quality Panel

Monday, 23 September 2019, 11:18 am | Statistics New Zealand

The Census 2018 External Data Quality Panel (the panel) today released the first of two independent reports on the quality of data from 2018 Census. The second will be published in December. More >>

RBNZ needs more resources, not more powers: Bascand

Monday, 23 September 2019, 10:59 am | BusinessDesk

Sept. 23 (BusinessDesk) - The Reserve Bank needs more resources rather than new powers to better fulfill its role as prudential regulator of insurance companies, deputy governor Geoff Bascand says. More >>

NZ dollar hovers near 4-yr low after IMF statement

Monday, 23 September 2019, 10:55 am | BusinessDesk

Sept. 23 (BusinessDesk) - The New Zealand dollar hit a four-year low after the International Monetary Fund said downside risks to the domestic growth outlook have increased. More >>

Healthy Homes Initiative Evaluation Positive

Monday, 23 September 2019, 10:54 am | Ministry of Health

Findings from an evaluation of the Healthy Homes Initiative, which was established to support low-income families with children to live in warm and dry homes, shows it has resulted in fewer medicines dispensed, fewer GP visits and fewer admissions ... More >>

Stephen Barfoot joins third generation at helm

Monday, 23 September 2019, 10:51 am | Barfoot and Thompson

Stephen Barfoot, former salesperson, branch manager and Chief Technology Officer at Barfoot & Thompson, will move into the role of Director with the company from 1 October. He joins other third generation members of the Barfoot and Thompson families, ... More >>

Greenbox Acquires Recytech as Launch Platform for expansion

Monday, 23 September 2019, 10:48 am | Greenbox

Brisbane, Australia – September 23, 2019 – Australian IT asset lifecycle management company, Greenbox , has acquired New Zealand IT asset disposal company Recytech to support expansion in the New Zealand market following growing demand from Greenbox’ ... More >>

Breaches of tenants’ trust and non-compliance costs landlord

Monday, 23 September 2019, 10:12 am | Ministry of Business Innovation and Employment

Auckland landlord Rinal Kumar has been ordered to pay $24,754.08 by the Tenancy Tribunal for deliberately and knowingly failing to lodge tenancy bonds as a result of 33 applications brought by MBIE’s Tenancy Compliance and Investigations Team (TCIT). More >>

Ardern-Trump meeting profiles high-value relationship

Monday, 23 September 2019, 10:01 am | Business NZ

The NZUS Council has welcomed the news of a meeting between US President Donald Trump and NZ Prime Minister Jacinda Ardern on Tuesday 24 September in the margins of the UN General Assembly. More >>

Rugby World Cup - passion or poison

Monday, 23 September 2019, 9:19 am | Employers Assistance Ltd

Everywhere you look it’s there – Rugby World Cup 2019 has arrived. From advertisements to endorsements to competitions, you are sure to be aware, if not excited about the big event. More >>

Cities Getting Smarter With The Internet Of Things

Monday, 23 September 2019, 9:17 am | IoT Alliance

- The New Zealand IoT Alliance is showcasing how Internet of Things (IoT) applications can enable smart cities and improve industrial productivity at its second annual showcase event in Auckland next week. More >>

Care credit proposed to help close gender pension gap

Monday, 23 September 2019, 8:50 am | Commission for Financial Capability

A “care credit” paid into women’s KiwiSaver accounts when they take time out of paid work to look after family could help to close the gender pension gap in New Zealand. This is one suggestion up for discussion in the three-yearly Review of Retirement ... More >>

XE Morning Update - September 23, 2019

Monday, 23 September 2019, 8:49 am | XE Morning Update

The NZDUSD opens at 0.6259 (mid-rate) this morning. More >>

Eyes on Wellington as property prices rise $52,000 in 1 year

Monday, 23 September 2019, 8:46 am | Trademe

The average asking price in Wellington has risen $52,550 in the last 12 months to $632,300 as the Wellington property market continues to boom, according to the latest Trade Me Property Price Index. More >>

XE Morning Update

Monday, 23 September 2019, 8:35 am | XE.com

The NZDUSD opens at 0.6259 (mid-rate) this morning. The NZD continued to encounter heavy selling pressure on Friday with the dollar falling to a new multi-year low against the USD. The NZD along with other commodity linked currencies underperformed ... More >>

Auckland suburban retail centre up for sale

Monday, 23 September 2019, 7:53 am | Bayleys

A neighbourhood shopping centre in Sommerville, part of the east Auckland suburb of Howick, is for sale and its freehold site of close to two hectares looks set to future-proof the property’s potential over time. More >>

Update on Spark Sport streaming issue 1pm

Sunday, 22 September 2019, 1:45 pm | Spark

Media Advisory 23 September 2019, 1.10pm Update on Spark Sport streaming issue Following technical investigations overnight and this morning, Spark Sport is making configuration changes to the way the video stream comes into New Zealand. We believe this will ... More >>

Update on Spark Sport streaming issue

Sunday, 22 September 2019, 11:32 am | Spark

Spark Sport has been working overnight with our international streaming partners to identify and resolve the root cause of the video stream quality issues that affected some customers during last night’s All Blacks vs South Africa pool match. More >>

Spark on rugby broadcast

Sunday, 22 September 2019, 11:30 am | Spark

Spark Sport explains decision to simulcast All Blacks v South Africa pool match on TVNZ Duke More >>

UPDATE: 97% SkyCity union members vote for strike

Saturday, 21 September 2019, 11:56 am | Unite Union

SEA-Unite media UPDATE: 97% SkyCity union members vote for Rugby World Cup Strike - Tūtira mai ngā iwi! More >>

Low interest rates call for family collaboration

Saturday, 21 September 2019, 11:55 am | Century 21 Real Estate

With a record low Official Cash Rate delivering both low mortgage rates and low bank deposits rates, it’s the perfect time for young renters to talk to their parents about buying a property together. More >>

Spark Sport reaches 60,000 livestreams

Saturday, 21 September 2019, 11:31 am | Spark

Spark Sport reaches 60,000 livestreams on an exciting opening night of Rugby World Cup 2019 Spark Sport had a very successful Rugby World Cup debut tonight, with almost 60,000 customers tuning in live to watch the opening ceremony and hosts Japan beat ... More >>

MARKET CLOSE: NZ shares gain

Friday, 20 September 2019, 8:59 pm | BusinessDesk

Sept. 20 (BusinessDesk) - New Zealand shares rose in heavy trading as Kiwi Property Group and Kathmandu Holding gained on strong volumes, with the quarterly index reweighting driving traffic. More >>

NZ dollar sags after avalanche of data

Friday, 20 September 2019, 8:45 pm | BusinessDesk

Sept. 20 (BusinessDesk) - The New Zealand dollar was little changed but with a decidedly soft tone after a busy week for global central banks, data from China, Australia and New Zealand, and ahead of a local rate decision next week. More >>

Fonterra board starts planning chair succession

Friday, 20 September 2019, 7:33 pm | BusinessDesk

Sept. 20 (BusinessDesk) - Fonterra Cooperative Group's board has started thinking about who should lead the country's dominant dairy processor through its new strategy, but that won't necessarily see John Monaghan leave. More >>

Fulton Hogan keeps Australian civil construction unit

Friday, 20 September 2019, 7:33 pm | BusinessDesk

Sept. 20 (BusinessDesk) - Fulton Hogan decided to keep its Australian civil construction division after potential buyers didn't make a tempting enough offer. More >>

Call for fish oil paper’s immediate retraction

Friday, 20 September 2019, 6:51 pm | Natural Health Products

Natural Health Products NZ says that a NZ Medical Journal paper on fish oil products is so fundamentally flawed that it should be retracted immediately, and a public apology issued to the natural health products industry. More >>

Melling interchange construction must follow consents

Friday, 20 September 2019, 5:49 pm | Business Central - Wellington

Improving traffic flows north of Wellington along State Highway 2 is one step closer today following the New Zealand Transport Agency's decision to proceed with consent applications for a new Melling interchange, says the Wellington Chamber of Commerce. More >>

Time for congestion pricing has come - NZIER

Friday, 20 September 2019, 5:33 pm | BusinessDesk

Sept. 20 (BusinessDesk) - Options being considered to fund transport development in Auckland and ease road congestion need to be part of a consistent framework that can be applied in other parts of the country, the New Zealand Institute of Economic ... More >>

Commission to appeal Steel & Tube sentence

Friday, 20 September 2019, 4:58 pm | Commerce Commission

The Commission has today filed an application for permission to appeal against the sentence imposed on Steel and Tube Holdings Limited (Steel & Tube) for false and misleading representations about steel mesh products. More >>

Independent Director Simon Israel to retire from board

Friday, 20 September 2019, 3:43 pm | Fonterra

Fonterra Co-operative Group Limited has announced that after more than six years as an Independent Director, Simon Israel has decided he will step down from the Fonterra Board at its Annual Meeting on the completion of his current term of appointment. ... More >>

Changing regulation biggest concern for real estate

Friday, 20 September 2019, 2:41 pm | Real Estate Institute Of New Zealand

The issue that could have the greatest impact on the real estate profession over the next three years is changing government and local council regulations, according to research issued today by the Real Estate Institute of New Zealand (REINZ). According ... More >>

Reade appointed new CEO at Northland Inc

Friday, 20 September 2019, 2:10 pm | Northland Inc

Northland Inc today (Friday) announced the appointment of Murray Reade as its new Chief Executive Officer. More >>

Colliers defends KiwiBuild as 'far from a colossal failure'

Friday, 20 September 2019, 1:59 pm | BusinessDesk

Sept. 20 (BusinessDesk) - KiwiBuild is "far from the colossal failure its political opponents have portrayed it to be," says prominent real estate agent Colliers. More >>

DHL Express announces annual price adjustments for 2020

Friday, 20 September 2019, 1:43 pm | DHL Express NZ

Auckland, New Zealand, September 20, 2019: DHL Express, the world’s leading international express services provider, announced a price increase today that will take effect on January 1, 2020. The average shipment price will be 4.9% higher compared to 2019. More >>