Latest Business Headlines [Page 2]
While you were sleeping: Wall Street slides
Tuesday, 13 August 2013, 7:36 am | BusinessDesk
Aug 13 (BusinessDesk) – Wall Street slipped as a report showed Japan's economic growth fell short of expectations, adding to lacklustre data closer to home. More >>
Auckland residents threatened by 140 break-ins per week
Monday, 12 August 2013, 9:05 pm | ADT Security
Auckland, NEW ZEALAND, 12 August 2013: Burglary affects 140 properties per week in the Auckland City District, that’s 20 break-ins per day in New Zealand’s largest city Auckland City District crime statistics 2012 http://www.police.govt.nz/sites/default/files/resources/crime-statistics/03-auckland-city-official-crime-stats-2012.pdf ... More >>
Smelter's $30M sweetener came down to scale, says PM
Monday, 12 August 2013, 6:53 pm | BusinessDesk
Aug 12 (BusinessDesk) - The only reason the government offered $30 million to Rio Tinto to keep the Bluff aluminium smelter open was because it is such a large part of the economy, Prime Minister John Key says. More >>
Key cranks up kowtow with govt inquiry, promises China visit
Monday, 12 August 2013, 6:15 pm | BusinessDesk
Aug 12 (BusinessDesk) - Prime Minister John Key is vowing to go to China as soon as he can to apologise personally for the Fonterra botulism scare, armed with the findings of a new kind of Ministerial inquiry, for which new law will be passed, ... More >>
MARKET CLOSE: NZ shares fall, paced by Fletcher
Monday, 12 August 2013, 5:37 pm | BusinessDesk
Aug. 12 (BusinessDesk) – New Zealand shares fell, pushing the NZX 50 Index to a month low, on concern Fletcher Building’s earnings will reflect tough times in Australia. Contact Energy and MightyRiverPower fell as some investors lightened their ... More >>
Income Protection Insurance May Not Be Fit For Purpose
Monday, 12 August 2013, 5:28 pm | The Portfolio Company
Many business owners have taken out Income Protection Insurance (to protect their families) that in the event of a claim only a portion or in some cases no benefit would be paid out in the short term. What’s worse is many company owners will pay ... More >>
Giesen The Brothers Pinot Noir 2011 wins top trophy
Monday, 12 August 2013, 5:14 pm | Giesen Wines
Growing recognition of the calibre of Marlborough Pinot Noir has been highlighted with Giesen The Brothers Pinot Noir 2011 winning top accolades at the 2013 Spiegelau International Wine awards dinner in Auckland on the weekend. More >>
NZ dollar little changed, may fall vs. euro, pound
Monday, 12 August 2013, 5:10 pm | BusinessDesk
Aug. 12 (BusinessDesk) - The New Zealand dollar may fall this week against the euro and the British pound amid expectations the European and UK economies are turning a corner. More >>
KCE minorities extracted higher price from Mangahao deal
Monday, 12 August 2013, 4:24 pm | BusinessDesk
Aug. 12 (BusinessDesk) – A group of minority shareholders in King Country Energy extracted more for their shares than the issue price at which Todd Energy sold down its Mangahao Power Station stake, raising concern the deal gave Todd control of the ... More >>
Port of Tauranga buys $37.2M property in South Auckland
Monday, 12 August 2013, 4:11 pm | BusinessDesk
Aug 12 (BusinessDesk) - Port of Tauranga, the country’s biggest export port, has spent $37.2 million buying property in Onehunga to expand its inland port operations in South Auckland. More >>
Successful shipping industry vital for NZ economy
Monday, 12 August 2013, 4:07 pm | International Container Lines Committee
A strong and successful shipping industry is vital for this country’s prosperity, says the new head of New Zealand’s International Container Lines Committee, Noel Coom. More >>
Govt's first step in improving H&S in NZ
Monday, 12 August 2013, 3:39 pm | New Zealand Safety Council
The NZSC believes that the New Zealand Governments broad acceptance of the Taskforce recommendations is the first step in improving H&S in NZ. More >>
New Zealand golf: distinctive but undiscovered
Monday, 12 August 2013, 3:29 pm | Tourism New Zealand
Tourism New Zealand plans to invest up-to two million dollars over three years into the international marketing of New Zealand’s distinctive golf offer to potential visitors. More >>
Port of Tauranga Purchases Onehunga Property from Goodman
Monday, 12 August 2013, 3:25 pm | Port of Tauranga Limited
While the City of Auckland grapples with the future of its waterfront, Port of Tauranga Limited continues to expand its MetroPort inland port operations in South Auckland. More >>
Goodman Property Trust Announces Asset Sale
Monday, 12 August 2013, 3:22 pm | Goodman Property Trust
Goodman (NZ) Limited (“GNZ”), the Manager of Goodman Property Trust, is pleased to announce the sale of Gateside Industry Park in Penrose. The multi-tenanted estate, which includes around 2.3 ha of associated development land, is being sold to Port ... More >>
Ezibuy for property investors
Monday, 12 August 2013, 3:11 pm | Bayleys
The head office, international call centre and flagship retail outlet for popular fashion label Ezibuy has been placed on the market for sale. Ezibuy’s corporate HQ in Palmerston North consists of a 2804 square metre building sitting on a 6190 ... More >>
Learning to Drive Auckland’s New Trains
Monday, 12 August 2013, 3:11 pm | Auckland Transport
Auckland’s train drivers are learning to drive the city’s new electric trains prior to the first one arriving from Spain at the end of the month. More >>
Nutricia Precautionary Product Recall - New Zealand Only
Monday, 12 August 2013, 3:10 pm | Nutricia
Following extensive tracing we are pleased to announce that Nutricia's precautionary recall relating to the Fonterra contamination is, as of today (12th August), ONLY limited to Karicare Stage 1 New Baby Infant Formula (from birth) and Karicare Gold+ ... More >>
MPI probe into Fonterra food scare to take up to six months
Monday, 12 August 2013, 2:42 pm | BusinessDesk
Aug 12 (BusinessDesk) - A Ministry for Primary Industries investigation into Fonterra Cooperative Group’s potentially tainted whey protein concentrate will take up to six months. More >>
Hot off the press:Waikato newspaper to sell head office site
Monday, 12 August 2013, 2:35 pm | Bayleys
The offices and printing plant of The Waikato Times newspaper have been placed on the market for sale as the publication’s parent company, Fairfax Media Ltd, adapt its business model to meet the demands of changing consumer needs. More >>
Kiwi business people share networking habits
Monday, 12 August 2013, 2:31 pm | The Icehouse
92% of business people say that networking is a key part of professional development and business success, yet 96% of the same group say we can improve our networking skills. More >>
‘Chardonnay awarded Champion Wine of the Show’
Monday, 12 August 2013, 2:31 pm | Spiegelau International Wine Competition
Amidst an evening of success and celebration, a Chardonnay was announced ‘Champion Wine of the Show’ during the 2013 Spiegelau International Wine Competition awards dinner held in Auckland last night. More >>
Vote on young Bay entrepreneurs business and product ideas
Monday, 12 August 2013, 1:48 pm | Young Innovator Awards
In its fifth year promoting innovation and entrepreneurialism in the Bay, the Young Innovator Awards (YiA) has received a record-breaking number of entries. 130 submissions were received in total and once again, the Junior category (school years 9 & ... More >>
MPI begins compliance investigation into whey contamination
Monday, 12 August 2013, 1:21 pm | Ministry For Primary Industries
The Ministry for Primary Industries (MPI) has commenced a compliance investigation into the potential contamination of three batches of Fonterra’s whey protein concentrate. More >>
RESEND NZ Dollar Outlook: Kiwi may end the week unchanged
Monday, 12 August 2013, 1:19 pm | BusinessDesk
RESEND NZ Dollar Outlook: Kiwi may end the week unchanged as US tapering expectations dominate More >>
Group Director of Strategy to lead Recovery Management Team
Monday, 12 August 2013, 1:19 pm | Fonterra
Fonterra today announced that Maury Leyland, Group Director of Strategy, will lead its Recovery Management Team responsible for the ongoing operations of the precautionary recall and will oversee the operational review announced by the CEO last week. More >>
NZ Dollar Outlook: Kiwi may end the week unchanged
Monday, 12 August 2013, 1:10 pm | BusinessDesk
Aug 12 (BusinessDesk) – The New Zealand dollar may end the week little changed should US economic indicators point to a revival in the world’s largest economy, bolstering expectations of a pullback in monetary stimulus. More >>
Martin Aircraft Company reveals latest jetpack
Monday, 12 August 2013, 12:25 pm | Martin Aircraft Company
Martin Aircraft Company’s CEO, Peter Coker, said that the P12 prototype was a “huge step up” from the previous prototype. More >>
Scamwatch reports bring total losses reported to $4.4m
Monday, 12 August 2013, 12:16 pm | Netsafe
NetSafe today published its third annual review of cyber incidents reported by New Zealand internet users and has found that more than $4.4m has been lost over the last 12 months to internet scams. More >>
Insight’s Creative Clout Wins Over Diabetes New Zealand
Monday, 12 August 2013, 12:00 pm | Insight
Auckland healthcare brand agency, INSIGHT New Zealand, have won Diabetes New Zealand in a competitive pitch against two other agencies. More >>
GMI reaches $2b milestone
Monday, 12 August 2013, 11:56 am | Gareth Morgan Investments
Gareth Morgan Investments Limited Partnership (GMI), a New Zealand owned investment manager, has reached a milestone of $2 billion funds under management. More >>
Training company helping healthcare job seekers
Monday, 12 August 2013, 11:44 am | Access Healthcare
Amida Training is expanding its services to help meet the demand in the labour market through the Ministry of Social Development, Training For Work services. Owned by Access Homehealth, Amida is to provide employment focused training courses to help ... More >>
Escape the Winter with a Trip to Hawai‘i
Monday, 12 August 2013, 11:40 am | Porter Novelli
Escape the Winter with a Trip to Hawai‘i’s Best Beaches with Hawaiian Airlines More >>
New editor of Unlimited means business
Monday, 12 August 2013, 11:37 am | Fairfax Media
New editor of Unlimited means business Experienced reporter, news director, columnist and commentator Maria Slade has been announced the new editor of Unlimited. With a strong background in print and radio journalism covering both business and general ... More >>
NZ food prices rose 0.5% in July, led by expensive veges
Monday, 12 August 2013, 11:21 am | BusinessDesk
NZ food prices rose 0.5% in July, led by more expensive veges; fastest annual pace since Feb 2012 More >>
Insurance & Savings Ombudsman – what we do
Monday, 12 August 2013, 11:19 am | Insurance And Savings Ombudsman Commission
Cantabrians must be the world’s most insurance-savvy people. More than 1000 days have passed since the region was shaken by its first large earthquake in modern history. The scale of the disaster and its effect on the insurance industry in New Zealand ... More >>
English taps lawyer Ross, venture capitalist Liddell to RBNZ
Monday, 12 August 2013, 10:52 am | BusinessDesk
Aug. 12 (BusinessDesk) - Finance Minister Bill English has appointed former Bell Gully partner Jonathan Ross and US-based venture capitalist Bridget Liddell to the board of the Reserve Bank. More >>
Freightways meets guidance with 6% gain in underlying profit
Monday, 12 August 2013, 10:52 am | BusinessDesk
Aug. 12 (BusinessDesk) – Freightways, New Zealand’s largest listed courier and data management company, posted a 6 percent increase in full-year profit before items, meeting its guidance of last month, and said it expects similar gains in 2014 in ... More >>
House price expectations remain high
Monday, 12 August 2013, 10:46 am | ASB Bank
House price expectations remain high according to the latest ASB Housing Confidence Survey. In the three months to July, a net 56% of respondents said they expect prices to rise over the next 12 months. More >>
KiwiNet and Callaghan combine forces
Monday, 12 August 2013, 10:26 am | KiwiNet
HAMILTON, New Zealand, 12 August 2013 – The Kiwi Innovation Network (KiwiNet) and Callaghan Innovation have cemented a partnership to help turn more clever ideas and research discoveries into new products and services. By working collaboratively with ... More >>
Strategic partnerships signal new collaborations
Monday, 12 August 2013, 10:25 am | Callaghan Innovation
Callaghan Innovation has entered four new strategic partnerships to strengthen collaboration across the innovation system and help firms turn their ideas into new products and services faster. More >>
House prices up in July as buyers race possible restrictions
Monday, 12 August 2013, 10:10 am | BusinessDesk
Aug 12 (BusinessDesk) – New Zealand house prices rose in July as more houses changed hands, suggesting first-home buyers are trying to secure properties ahead of possible Reserve Bank restrictions on buyers with low deposits. More >>
Meridian earnings strong, but smelter deal cuts value
Monday, 12 August 2013, 10:05 am | BusinessDesk
Aug 12 (BusinessDesk) - Meridian Energy has turned in a strong 53 percent increase in underlying net profit after tax of $162.7 million, but has had to write down the total value of its assets by $476 million to reflect the lower power prices it will ... More >>
Heartland to pay brokerage for small investors with new plan
Monday, 12 August 2013, 9:56 am | BusinessDesk
Heartland heads off low-ball offers with plan to pick up brokerage on small share parcels More >>
Drought “response hero” gets life membership
Monday, 12 August 2013, 9:42 am | Federated Farmers
A long-standing Federated Farmers member has been granted life membership of Federated Farmers. Former Hawke’s Bay provincial president, Kevin Mitchell, was bestowed the honour after more than 30 years of outstanding service to the Federation. More >>
One in three do not know their KiwiSaver balance
Monday, 12 August 2013, 9:42 am | ANZ Bank
A third of KiwiSaver members are unaware of how much they have in their retirement savings account, according to ANZ’s latest Retirement Savings Confidence Barometer. More >>
Sales Lift and Prices Ease In July Real Estate Market
Monday, 12 August 2013, 9:40 am | REINZ
REINZ, the most up to date source of real estate data in New Zealand, announced today that there were 6,777 dwelling sales in the month of July, up 14.7% on July last year and 10.5% higher than June. The national median price eased back $9,000 compared ... More >>
Ex-CBA boss Ralph Norris to lead Fonterra board inquiry
Monday, 12 August 2013, 9:17 am | BusinessDesk
Aug. 12 (BusinessDesk) – Former Commonwealth Bank of Australia chief Ralph Norris is to lead Fonterra Cooperative Group’s board inquiry into the botulism contamination scare, helped by former High Court judge Judith Potter and Chapman Tripp lawyer Jack ... More >>
Fonterra Board establishes WPC80 Inquiry Committee
Monday, 12 August 2013, 9:01 am | Fonterra
Today Fonterra Chairman John Wilson announced that Fonterra’s Board has established the WPC80 Inquiry Committee, and charged them to oversee an independent review into the circumstances giving rise to the affected whey protein concentrate (WPC80) and ... More >>
NZ dollar falls to week low vs. Australian dollar
Monday, 12 August 2013, 8:49 am | BusinessDesk
Aug. 12 (BusinessDesk) – The New Zealand dollar declined to a week low against its Australian counterpart on optimism about economic growth in China, Australia’s largest trading partner. More >>
World Week Ahead: Fed talk, US retailers
Monday, 12 August 2013, 7:37 am | BusinessDesk
Aug. 12 (BusinessDesk) – Wall Street will keep its collective eye on speeches by US Federal Reserve officials as well as the latest monthly retail sales data and the latest quarterly earnings of a slew of American retailers including Wal-Mart. More >>
Q+A Theo Spierings Interview
Sunday, 11 August 2013, 3:31 pm | TVNZ
Sunday 11 August, 2013 Fonterra CEO Theo Spierings told TVNZ’s Q+A programme that the cost of the milk powder botulism scare could run to tens of millions of dollars. When pressed on what the cost would be, Spierings said, ‘It’s tens of millions.’ ... More >>
Acurity Health expects subdued demand to continue into 2014
Friday, 9 August 2013, 5:41 pm | BusinessDesk
Aug. 9 (BusinessDesk) – Acurity Health Group, the private hospital operator formerly known as Wakefield Health, expects weak demand for private sector health care to continue in the current financial year. More >>
MARKET CLOSE: NZ shares fall; Kathmandu leads retailers down
Friday, 9 August 2013, 5:36 pm | BusinessDesk
Aug. 9 (BusinessDesk) – New Zealand shares fell, pushing the NZX 50 Index to a month low, as Kathmandu led a decline in retailers after soft electronic cards data and MightyRiverPower extended its slide on concern about future power demand. More >>
Film & Video Labelling Body v Fishpond.co.nz
Friday, 9 August 2013, 5:32 pm | Film and Video Labelling Body
In the middle of last year the FVLB commenced an investigation into the online trader Fishpond.co.nz. This was in response to a number of complaints received from members of the public regarding products being offered for sale on their site. More >>
NZ dollar heads for 2.1% weekly gain as Fonterra fears ease
Friday, 9 August 2013, 5:15 pm | BusinessDesk
NZ dollar heads for 2.1% weekly gain as Fonterra fears ease, China stokes risk appetite More >>
Pins Colt Attracts Top Price at South Island Sale
Friday, 9 August 2013, 5:01 pm | NZ Bloodstock
A striking colt by top-drawer stallion Pins has topped the New Zealand Bloodstock South Island Sale of Two-Year-Olds and Mixed Bloodstock, knocked down for $50,000. More >>
King Salmon's Marlborough Sounds consents upheld at appeal
Friday, 9 August 2013, 4:52 pm | BusinessDesk
Aug. 9 (BusinessDesk) - Campaigners against a substantial increase in aquaculture in the Marlborough Sounds have lost their appeals against Environment Court rulings that had already upheld resource consents granted by a board of inquiry. More >>
Fonterra Confirms No Health Risk with High School Project
Friday, 9 August 2013, 4:46 pm | Fonterra
Fonterra today confirmed that there is no health risk to students at Palmerston North Girls’ High School who drank drinks that included whey protein concentrate (WPC80) from a batch subsequently subject to the recent precautionary recall. More >>
Sanford annual profit to miss forecast on lower harvest
Friday, 9 August 2013, 4:38 pm | BusinessDesk
Aug 9 (BusinessDesk) – Sanford, New Zealand’s largest listed fishing company, said annual profit will fall short of its forecast after lower catches of skipjack tuna and toothfish and slow growth in its main Marlborough mussel growing area. The ... More >>
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