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MARKET CLOSE: NZ shares edge up; Infratil gains

Wednesday, 22 May 2019, 8:47 pm | BusinessDesk

May 22 (BusinessDesk) - New Zealand shares edged higher, with Infratil one of the most active stocks when it resumed trading after being halted for a $100 million placement last week. More >>

NZ dollar trades near 2019 low on Aussie rate outlook

Wednesday, 22 May 2019, 8:46 pm | BusinessDesk

May 22 (BusinessDesk) - The New Zealand dollar was little changed as investors bet on an Australian rate cut in June, continue to fret about the United States-China trade war and as elections for the European Parliament get underway in 28 countries. More >>

Five new vehicles achieve 5 star safety ratings

Wednesday, 22 May 2019, 8:09 pm | New Zealand Automobile Association

Five new vehicles achieve 5 star safety ratings A mix of new Japanese and European vehicles have been awarded 5 star safety ratings by ANCAP. More >>

Solid Autumn Results

Wednesday, 22 May 2019, 8:05 pm | REINZ

Data released today by the Real Estate Institute of New Zealand (REINZ) shows there were 140 more lifestyle property sales (+8.7%) for the three months ended April 2019 than for the three months ended March 2019. Overall, there were 1,752 lifestyle property ... More >>

Interesting Developments in the Marketplace

Wednesday, 22 May 2019, 8:04 pm | REINZ

Interesting Developments in the Marketplace Data released today by the Real Estate Institute of New Zealand (REINZ) shows there were 56 less farm sales (-13.4%) for the three months ended April 2019 than for the three months ended April 2018. Overall, ... More >>

Investment surge set to propel NZ tech exports

Wednesday, 22 May 2019, 8:01 pm | Technology Investment Network

Annual TIN ‘Investor’s Guide to the NZ Technology Sector’ reinforces the compelling case for international investment in Kiwi tech innovations More >>

Farmers retail receives an ‘F’ for performance from staff

Wednesday, 22 May 2019, 5:33 pm | FIRST Union

Farmers retail workers have long been subject to an unfair performance pay system and have decided it’s time to grade their employer. They agreed on an F-rating for performance over Farmers’ refusal to pay the Living Wage and the company’s ... More >>

MediaWorks breakeven stymied by radio

Wednesday, 22 May 2019, 5:31 pm | BusinessDesk

May 22 (BusinessDesk) - It’s tough being a media company. And nowhere is this more apparent than for MediaWorks Investments, home of the Three TV channel, the Edge and More radio stations, among others. More >>

George R.R. Martin is coming?

Wednesday, 22 May 2019, 5:17 pm | Air New Zealand

Air New Zealand is thrilled to have received a response from Game of Thrones author George R.R. Martin to its invite to visit New Zealand to finish off the remaining novels in the series. The airline posted a tweet on Monday in Valyrian – a language ... More >>

Loan-to-value restrictions effective but have some drawbacks

Wednesday, 22 May 2019, 4:43 pm | BusinessDesk

Loan-to-value restrictions effective but have some drawbacks - RBNZ More >>

Parliament is a workplace

Wednesday, 22 May 2019, 4:42 pm | Auckland Business Chamber

In an environment where hierarchy drives inflated egos due to status versus job title and function versus role, it is important to remember that Parliament is still just a workplace. And while it has undertaken a necessary review of its people behaviours ... More >>

Banking Ombudsman Scheme retains high levels of awareness

Wednesday, 22 May 2019, 4:34 pm | Banking Ombudsman

The Ministry of Business, Innovation and Employment has today released the results of a survey it conducts every two years to find out what New Zealanders know about their consumer rights and how to deal with consumer problems. The survey has confirmed ... More >>

NZCB’s building guarantee now providing $5 billion in cover

Wednesday, 22 May 2019, 4:06 pm | Certified Builders of New Zealand

NZCB’s building guarantee now providing $5 billion in cover to Kiwi homeowners More >>

Yili deal a timely cash injection for Westland farmers - ANZ

Wednesday, 22 May 2019, 4:00 pm | BusinessDesk

May 22 (BusinessDesk) - Westland Milk Products farmers will bank - on average - $572,000 from the sale of their shares to Inner Mongolia Yili Industrial Group if the deal goes ahead, says ANZ Bank New Zealand. More >>

Medicinal cannabis "not commercially viable yet" says AFT

Wednesday, 22 May 2019, 3:57 pm | BusinessDesk

May 22 (BusinessDesk) - AFT Pharmaceuticals’ founder and managing director Hartley Atkinson says he’s having ongoing discussions about getting involved in providing medicinal cannabis products but the current tough regulatory environment doesn’t ... More >>

Telco Industry Working To Improve Customer Satisfaction

Wednesday, 22 May 2019, 3:16 pm | NZ Telecommunications Forum - TCF

The New Zealand Consumer Survey report released today by the Ministry for Business, Innovation and Employment (MBIE) said that home-based telecommunications has the highest incidence of problems. More >>

REINZ welcomes Privacy Commission’s guidelines but ...

Wednesday, 22 May 2019, 2:33 pm | REINZ

When news of the ‘KFC test’ first broke last year, the Real Estate Institute of New Zealand (REINZ) immediately called for some consistent standards to be put in place, therefore, broadly speaking, the Institute welcome the announcement from ... More >>

UPDATE: AFT narrows net loss, turns cash flow positive

Wednesday, 22 May 2019, 2:30 pm | BusinessDesk

May 22 (BusinessDesk) - AFT Pharmaceuticals posted a narrower annual loss as interest and other finance costs swamped operating earnings and says it’s negotiating the refinancing of its debt at more favourable interest rates. More >>

NZ first-quarter retail sales grow 0.7%

Wednesday, 22 May 2019, 2:25 pm | BusinessDesk

May 22 (BusinessDesk) - New Zealand's retail sales were slightly higher than expected in the first quarter amid increased spending at department stores and on hardware and building supplies. More >>

Consumers encouraged to know their rights

Wednesday, 22 May 2019, 2:09 pm | Ministry of Business Innovation and Employment

Results of the New Zealand Consumer Survey 2018 show that while nearly all consumers are aware that laws exist to protect their consumer rights, more than half of consumers report knowing only ‘a little’ or ‘nothing’ about what these rights are. More >>

Lake Hawea township expansion for Central Otago

Wednesday, 22 May 2019, 1:58 pm | Bayleys

Lake Hawea township expansion for Central Otago - as new residential-zoned landholding goes up for sale More >>

Sustainable Protein: Healthy People and Planet

Wednesday, 22 May 2019, 1:53 pm | Blinc Innovation

Dinner plates across the world are evolving, as conscious consumers are thinking about the impact their choices are having on the planet. More >>

New Zealand’s employers more accepting of job hoppers

Wednesday, 22 May 2019, 1:52 pm | Robert Half

• New Zealand hiring managers consider someone who has made an average of six job changes over a 10-year period to be a job hopper. More >>

SkyCity poised to enter online gaming space

Wednesday, 22 May 2019, 12:53 pm | BusinessDesk

May 22 (BusinessDesk) - SkyCity Entertainment Group is poised to tap into the lucrative online gaming space with plans to launch a platform mid-year that will be operated from Malta. More >>

LVR restrictions promote financial stability

Wednesday, 22 May 2019, 12:44 pm | Reserve Bank

The Reserve Bank has undertaken a detailed evaluation of Loan-to-Value Ratio restrictions (LVR) as part of a wider review of macroprudential policy. More >>

AFT narrows net loss, turns cash flow positive

Wednesday, 22 May 2019, 12:41 pm | BusinessDesk

May 22 (BusinessDesk) - AFT Pharmaceuticals posted a narrower annual loss as interest and other finance costs swamped operating earnings and says it’s negotiating the refinancing of its debt at more favourable interest rates. More >>

Trimming trees next to powerlines is a dangerous job

Wednesday, 22 May 2019, 12:20 pm | WorkSafe NZ

An employer has been sentenced to 60 hours community work and fined for failing to keep a worker safe while he was trimming tree branches next to a powerline. A casual worker hired by Bradford John Dibble was seriously injured in the incident. Dibble ... More >>

Kacific Recognised for Best Digital Inclusion in the Pacific

Wednesday, 22 May 2019, 12:15 pm | Kacific

22 May 2019 – Kacific Broadband Satellites Group (Kacific) won the award for Best Digital Inclusion at the 2019 Pacific ICT Awards held by the Government of Vanuatu on 17 May. More >>

Albany and Silverdale join forces to create powerhouse

Wednesday, 22 May 2019, 12:11 pm | Century 21 Real Estate

With North Auckland experiencing massive residential growth, Century 21 New Zealand has announced its Albany and Silverdale franchises have formally decided to work a lot closer, ensuring unbeatable coverage and service for clients. More >>

NZX sells FundSource to Australia's Zenith Partners

Wednesday, 22 May 2019, 12:09 pm | BusinessDesk

May 22 (BusinessDesk) - NZX has wrapped up the sale of its FundSource research house to Australia's Zenith Investment Partners for an undisclosed sum. More >>

Gull Kaukaupakaupa First in New Zealand to Be Smoke-Free

Wednesday, 22 May 2019, 12:03 pm | Gull Petroleum

Kaukaupakaupa, 22 May 2019 – Brett Peachey and Julie Wakefield announced that with Gull they have launched New Zealand’s first smoke-free site at 1079 Kaipara Coast Hwy, Kaukaupakaupa on State Highway 16 in Auckland’s rural north-west. More >>

AFT Pharmaceuticals establishes new borrowing facilities

Wednesday, 22 May 2019, 11:36 am | AFT Pharmaceuticals

AFT Pharmaceuticals (AFT) today announces it has established a NZ$15 million interim banking facility with the BNZ, enabling the company to commence refinancing its borrowings at more attractive rates. The new facility uses the existing security arrangements ... More >>

NZ dollar weaker on dovish RBA, softer dairy prices

Wednesday, 22 May 2019, 10:56 am | BusinessDesk

May 22 (BusinessDesk) - The New Zealand dollar touched its lowest level since early November as signs of a rate cut across the Tasman increased the odds that local rates will go lower and as dairy prices eased. More >>

NZ Q1 Retail Sales Release

Wednesday, 22 May 2019, 10:55 am |

NZ Retail Sales for Q1 have just been released. They came in better than expected. Real Retail Sales on quarter +0.7% (Consensus +0.6%) When the effects of price changes are included, the seasonally adjusted value of total retail sales rose a modest 0.2% ... More >>

Retail spending holds up in March

Wednesday, 22 May 2019, 10:50 am | Statistics New Zealand

Higher spending at department stores and on hardware and building supplies this summer helped boost overall spending by 0.7 percent in the March 2019 quarter, Stats NZ said today. More >>

Dairy product prices fall, halting longest gaining streak

Wednesday, 22 May 2019, 10:32 am | BusinessDesk

May 22 (BusinessDesk) - Dairy product prices fell at the Global Dairy Trade auction, ending a record string of 11 consecutive gains, as whole milk powder declined for the fourth straight time. More >>

Westpac sees rekindled house price inflation of 7%

Wednesday, 22 May 2019, 10:28 am | BusinessDesk

May 22 (BusinessDesk) - Westpac is expecting house price inflation to take off again thanks to the government’s decision to scrap plans for a capital gains tax and falling mortgage rates. More >>

Independent review finds no wrongdoing by Transport Agency

Wednesday, 22 May 2019, 10:00 am | New Zealand Transport Agency

Independent review finds no wrongdoing by Transport Agency in dealings with SkyPath Trust More >>

BlockchainNZ to ask govt for a national strategy

Wednesday, 22 May 2019, 9:39 am | Make Lemonade

BlockchainNZ will next week ask the government to research and prepare a blockchain strategy for New Zealand to get up to speed with other countries. BlockchainNZ executive director Mark Pascall will present to parliament’s economic development, science ... More >>

EMA Chinese Business Centre opens

Wednesday, 22 May 2019, 9:33 am | EMA

The EMA opened the doors of its new Chinese Business Centre at its Auckland campus yesterday. More >>

Oratia Media celebrates 10 years of book publishing

Wednesday, 22 May 2019, 9:25 am | Oratia Media

Waitakere-based independent publisher launched its first book in May 2009 and is going strong today More >>

Women of Influence Awards nominations open

Wednesday, 22 May 2019, 9:22 am | Westpac

A national celebration of New Zealand’s most inspiring women begins today, with nominations now open for the annual Women of Influence Awards. Presented by Stuff and Westpac, the renowned event returns for its seventh year to recognise Kiwi women ... More >>

NZ Champions of Cheese Trophies Announced

Wednesday, 22 May 2019, 9:21 am | NZ Specialist Cheesemakers Assn

Two gouda cheeses made by family-owned cheese companies have taken the top honours at the annual New Zealand Champions of Cheese Awards. Meyer Cheese Goats Milk Gouda was named Countdown Champion of Champions (Commercial); and Mahoe Farmhouse Cheese, ... More >>

Unisys CMO Ann Sung Ruckstuhl Named 2019 Woman of Influence

Wednesday, 22 May 2019, 9:18 am | Unisys

Unisys CMO Ann Sung Ruckstuhl Named 2019 Woman of Influence by Silicon Valley Business Journal More >>

IDC says Cloud-Related Projects Helps the IT Market Grow

Wednesday, 22 May 2019, 9:09 am | IDC New Zealand Ltd

New Zealand IT services revenue grew 1.9% year-on-year (YoY), reaching $3.43 billion in 2018, according to IDC Australia/New Zealand's IT services tracker. Managed services revenue makes up the largest portion of total IT services revenue. However, the project ... More >>

XE Morning Update - May 22, 2019

Wednesday, 22 May 2019, 8:52 am | XE Morning Update

The NZD opens at 0.6505 The big news yesterday was out of the RBA in Australia, with dovish comments from the Governor Lowe setting the scene for a rate cut in June. Pricing for a cut jumped from circa 50% up to 70%. This saw the AUD drop towards ... More >>

Trendhim Scholarship applications sought

Tuesday, 21 May 2019, 9:15 pm | Trendhim

Trendhim Scholarship The €2,000 Trendhim Talent Scholarship was created to empower and support students that have a passion for business, design, marketing and IT and would like to pursue a career in any of the below fields or start their own business. More >>

MARKET CLOSE: NZ shares fall

Tuesday, 21 May 2019, 8:47 pm | BusinessDesk

May 21 (BusinessDesk) - New Zealand shares fell, led lower by Chorus, after investors were spooked by potentially stricter regulation of its ultrafast broadband network than they'd anticipated. More >>

NZ dollar falls after RBA governor flags potential rate cut

Tuesday, 21 May 2019, 8:46 pm | BusinessDesk

May 21 (BusinessDesk) - The New Zealand dollar fell against the greenback, dragged down by its trans-Tasman counterpart after Reserve Bank of Australia governor Philip Lowe talked about considering a rate cut in two weeks’ time. More >>

Bus Drivers: Full Review of PTOM Announced

Tuesday, 21 May 2019, 7:55 pm | First Union

Bus Drivers: Full Review of PTOM Announced For Immediate release 21/05/2019 Bus drivers who are members of FIRST Union were pleased to learn today that the campaign to end the race to the bottom on wages has been a success . Today the Transport Minister ... More >>

ASB reviews ownership of Aegis

Tuesday, 21 May 2019, 7:01 pm | BusinessDesk

May 21 (BusinessDesk) - Commonwealth Bank of Australia-owned ASB is considering selling its Aegis investment administration business. More >>

NZ companies to learn from world’s biggest biotech event

Tuesday, 21 May 2019, 6:56 pm | Make Lemonade

A New Zealand delegation of biotech companies will attend the world’s biggest biotech conference in Philadelphia in the USA next month. More >>

NZ can learn from the Baltimore cyberattack

Tuesday, 21 May 2019, 6:55 pm | Make Lemonade

New Zealand can take lessons from Baltimore in the United States which until a few days ago, was offline following a ransomware cyberattack for more than a week, FintechNZ general manager James Brown says. More >>

REINZ reminds landlords they have just 40 days left

Tuesday, 21 May 2019, 6:48 pm | REINZ

REINZ reminds landlords they have just 40 days left to insulate rental properties or face a $4,000 fine More >>

Bus operators support government review of public transport

Tuesday, 21 May 2019, 5:33 pm | Bus and Coach Association

The Bus and Coach Association NZ (BCA) is welcoming the government’s review of the Public Transport Operating Model (PTOM), saying that it is an opportunity to deliver the partnership model which was envisaged when the system was introduced. More >>

Waste Management sets sector benchmark for carbon reduction

Tuesday, 21 May 2019, 5:24 pm | Waste Management

Marking a first for the waste industry in New Zealand, Waste Management NZ has achieved independent certification for managing and reducing Greenhouse Gas Emissions, Waste Management Managing Director, Tom Nickels, said today. More >>

Wellbeing budget delivers for Ambo wages, St John moving

Tuesday, 21 May 2019, 4:18 pm | FIRST Union

Wellbeing budget delivers for Ambos’ wages, St John already making moves to spend elsewhere More >>

MIA supports call for ATV safety review

Tuesday, 21 May 2019, 4:16 pm | Motor Industry Association

The Motor Industry Association says it would welcome the opportunity to work with users and officials to review guidance on the safe use of ATVs (all terrain vehicles) and ROVs (recreational off-highway vehicles). This follows a call from the Coroner ... More >>

Go with Tourism Expo – touch, smell, taste and bungy

Tuesday, 21 May 2019, 4:07 pm | Auckland Tourism Events and Economic Development

Go with Tourism is partnering with NZ Careers Expo to deliver its very own tourism careers expo. This week, from 23-25 May, thousands of young people will converge on the ASB Showgrounds in Auckland for the NZ Careers Expo. In addition to the traditional ... More >>

LVR review well overdue for Akld first-home buyers

Tuesday, 21 May 2019, 4:03 pm | Century 21 Real Estate

“For the sake of tens of thousands of potential first-home buyers in Auckland, it’s time for the Reserve Bank to formally review its six-year-old policy on loan-to-value ratios (LVRs),” says Ryan Mitchell, National Manager of Century 21 New Zealand. More >>