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Latest Business Headlines [Page 3]

Pacific Edge Named #6 in TIN Top Ten Hot Emerging Companies

Wednesday, 18 October 2017, 10:01 am | Pacific Edge

Pacific Edge’s global growth and positive revenue trajectory has been recognised with the cancer diagnostics company named number 6 in the TIN Top Ten List of Hot Emerging Companies for 2017. More >>

Dairy product prices slide amid confidence in outlook

Wednesday, 18 October 2017, 9:57 am | BusinessDesk

Oct. 18 (BusinessDesk) - Dairy product prices fell at the Global Dairy Trade auction, declining for the sixth time in nine auctions, amid bets on sufficient supply. More >>

Mercury Energy Quarterly Operational Update

Wednesday, 18 October 2017, 9:42 am | Mercury Energy

Mercury's focus on rewarding existing customers continued to produce below market churn. For the quarter ended 30 September 2017, Mercury's annualised trader churn for all brands of 7.9% was 1.6% below the market average of 9.5%, based on Electricity ... More >>

NZ Super Fund Paid 60 Times More Tax than Fonterra Last Year

Wednesday, 18 October 2017, 9:32 am | BusinessDesk

NZ Super Fund, govt cash cow, paid 60 times more tax than Fonterra last year More >>

Networking a bonus

Wednesday, 18 October 2017, 9:22 am | Ballance Farm Environment Awards

Meeting other entrants and finding out about the great work everyone else was doing were highlights of the Ballance Farm Environment Awards for Waikato finalists Peter and Karen West. More >>

FMA fast-tracks personalised robo-advice with exemption

Wednesday, 18 October 2017, 9:16 am | BusinessDesk

Oct. 18 (BusinessDesk) - The Financial Markets Authority will let Kiwis access personalised automated financial advice, known as robo-advice, with an exemption kicking in before a legislative overhaul of the sector. More >>

Deloitte South Island Index shows solid annual performance

Wednesday, 18 October 2017, 9:13 am | Deloitte

South Island listed companies collectively gained 6.9% in market capitalisation for 12-month period to 30 September More >>

FMA fast-tracks personalised robo-advice with exemption

Wednesday, 18 October 2017, 9:09 am | BusinessDesk

Oct. 18 (BusinessDesk) - The Financial Markets Authority will let Kiwis access personalised automated financial advice, known as robo-advice, with an exemption kicking in before a legislative overhaul of the sector. More >>

Revolutionising Apple Thinning with Brevis®

Wednesday, 18 October 2017, 9:02 am | ADAMA New Zealand

Nelson, New Zealand, 17 October 2017 – ADAMA New Zealand Ltd ., subsidiary of world leading crop protection company ADAMA Agricultural Solutions , has launched Brevis, a new and innovative secondary fruit thinner especially formulated for apples. More >>

NZ's Top Tech Companies Generate $10B in 2017 Sales

Wednesday, 18 October 2017, 9:00 am | BusinessDesk

Oct. 17 (BusinessDesk) - New Zealand’s top 200 technology companies generated $10 billion of annual sales for the first time with more than $7.3 billion coming from exports, according to the 2017 TIN100 report. More >>

TIN Profiles NZ's Growing Māori Technology Ecosystem

Wednesday, 18 October 2017, 8:45 am | Technology Investment Network

Auckland, 17 October 2017 – Māori-owned or Māori investment-backed technology companies are making a significant contribution to New Zealand’s technology sector; a trend that looks set to grow, according to the annual 2017 TIN Report launched ... More >>

Milestone Moment for NZ Tech Sector - Record 10BN Revenue

Wednesday, 18 October 2017, 8:41 am | Technology Investment Network

Milestone Moment for the New Zealand Technology Sector as TIN Reports Record $10 Billion Revenue More >>

HiFX Morning Update, October 18, 2017

Wednesday, 18 October 2017, 8:30 am | HiFX

The NZDUSD opens at 0.7169 (mid-rate) this morning. The NZD is trading slightly higher against the majority of its rivals after yesterday’s inflation data came is ahead of expectations. The NZDUSD traded to a high of 0.7200 before a disappointing ... More >>

MARKET CLOSE: NZ shares rise as Restaurant Brands, A2 gain

Tuesday, 17 October 2017, 8:31 pm | BusinessDesk

Oct. 17 (BusinessDesk) - New Zealand shares rose, led by Restaurant Brands and A2 Milk while Xero and Scales Corp fell, with investors still uncertain about the make-up of the next government. More >>

NZ dollar pares CPI gains as greenback rises

Tuesday, 17 October 2017, 8:15 pm | BusinessDesk

Oct. 17 (BusinessDesk) - The New Zealand dollar was little changed, paring the gains it made on stronger-than-expected inflation data, as the greenback strengthened in Asian trading. More >>

Reduced viewpoints in media merger not ComCom's concern

Tuesday, 17 October 2017, 7:49 pm | BusinessDesk

Oct. 17 (BusinessDesk) - The Commerce Commission shouldn't have considered reduced media plurality in deciding to reject the merger of Stuff and NZME, the media companies' lawyer told the court. More >>

NZ Super Fund paid 60 times more tax than Fonterra

Tuesday, 17 October 2017, 7:04 pm | BusinessDesk

NZ Super Fund, govt cash cow, paid 60 times more tax than Fonterra last year More >>

Living Wage asks Selwyn Foundation to consider ethics

Tuesday, 17 October 2017, 6:21 pm | Living Wage Aotearoa

The Living Wage Movement Aotearoa New Zealand says that the Selwyn Foundations AGM at Holy Trinity Cathedral on Wednesday the 18th of October is the perfect opportunity for them to think about their commitment to an ethical and values based approach. More >>

Fisher Funds says new Xero holding amounts to 3% of Kingfish

Tuesday, 17 October 2017, 6:14 pm | BusinessDesk

Oct. 17 (BusinessDesk) - Kingfish, a listed investment fund that targets New Zealand shares, has taken an $8 million position in Xero shares after flagging its first bet on the unprofitable accounting software company. More >>

Infratil, flush with funds, won't offer reinvestment option

Tuesday, 17 October 2017, 5:53 pm | BusinessDesk

Oct. 17 (BusinessDesk) - Infratil, which is one of the biggest issuers of NZDX-listed debt securities, says it won't offer holders of its November 2017 bonds an option to reinvest because it has ample funds and untapped bank facilities. More >>

Family farm trusts at risk

Tuesday, 17 October 2017, 5:20 pm | Crowe Horwath

Family farm trusts at risk Agri family businesses that have a trust structure need to make sure they’re not burnt by the changes in legislation that governs trusts. Crowe Horwath Business Advisory Partner Denis Hames says neglecting your family trust ... More >>

E tū bitterly disappointed over demise of Kiwi-made Cadbury

Tuesday, 17 October 2017, 5:01 pm | Etu NZ

MEDIA RELEASE E tū bitterly disappointed over demise of Kiwi-made Cadbury The union, E tū is highly critical of the decision by Mondelez International to move all production of Cadbury products from its Dunedin production plant to Australia. More >>

Summit improves tech connection with China

Tuesday, 17 October 2017, 4:59 pm | Hi-Tech Summit

High-profile Chinese investors and Kiwi tech companies came together this week to work out how to better promote, connect and engage the New Zealand tech sector with the China market. The Hi-Tech Summit, organised by the China Chamber of Commerce ... More >>

UPDATE: housing-related costs push up inflation

Tuesday, 17 October 2017, 4:26 pm | BusinessDesk

(Recasts lead and updates to add economists comments in paragraphs 4 and 5, comment from Insurance Council in paragraph 7 and updated NZD level in final graph) More >>

NZ frozen beef exports to Japan slump after tariff hike

Tuesday, 17 October 2017, 4:03 pm | BusinessDesk

Oct. 17 (BusinessDesk) - New Zealand exports of frozen beef to Japan have plummeted since the country lifted tariff rates, according to AgriHQ. More >>

Mondelez pulls pin on local manufacturer for Kiwi candy

Tuesday, 17 October 2017, 3:43 pm | BusinessDesk

Oct. 17 (BusinessDesk) - Mondelez International has given up on finding a local manufacturer for its New Zealand suite of candy and will ship production to Australia, having already decided to close the Dunedin Cadbury factory. More >>

ASX-listed HRL Holdings expands Kiwi footprint

Tuesday, 17 October 2017, 2:59 pm | BusinessDesk

Oct. 17 (BusinessDesk) - ASX-listed HRL Holdings will expand its reach on this side of the Tasman after agreeing to buy local food testing firm Analytica Laboratories for as much as $30 million. More >>

Billion-dollar industry thanks cleaners

Tuesday, 17 October 2017, 2:59 pm | OCS Limited

Mopping up crime scenes, polishing the floors of schools and keeping public toilets fresh are just some of the tasks cleaners will be acknowledged for on Thank Your Cleaner Day tomorrow. More >>

Ebos forecasts 10% lift in 2018 earnings

Tuesday, 17 October 2017, 2:35 pm | BusinessDesk

Oct. 17 (BusinessDesk) - Ebos Group, which posted a record profit in 2017 driven by acquisitions and sales growth, says earnings will rise about 10 percent in the current year after a strong first quarter for its healthcare and animal products ... More >>

Fruit & Vegetables to become Unaffordable

Tuesday, 17 October 2017, 2:31 pm | Primary Land Users Group

Vegetable prices have risen a record 31 per cent in the past year, according to Statistics New Zealand. More >>

Living in New Zealand even now more expensive

Tuesday, 17 October 2017, 2:20 pm | Council of Trade Unions

-- The release of the September Consumer Price Index (CPI) by Statistics New Zealand shows that incomes are not keeping up with the cost of living. "Prices are rising faster than wages, and some of the biggest price rises are basic necessities for ... More >>

Lifestyle Market Softens Further

Tuesday, 17 October 2017, 2:18 pm | REINZ

Data released today by the Real Estate Institute of NZ (REINZ) shows there were 514 fewer lifestyle property sales (-23.0%) for the three months ended September 2017 than for the three months ended September 2016. Overall, there were 1,716 lifestyle ... More >>

Difficult Conditions Constrain Rural Market

Tuesday, 17 October 2017, 2:17 pm | REINZ

Data released today by the Real Estate Institute of New Zealand (REINZ) shows there were 117 fewer farm sales (-30.2%) for the three months ended September 2017 than for the three months ended September 2016. More >>

Spark Media Advisory #2 re Krack vulnerability

Tuesday, 17 October 2017, 2:10 pm | Spark NZ

Spark can confirm that our home broadband modems are not vulnerable to the “Krack” Wi-Fi security issue, which was publicised globally overnight. This is because the Krack vulnerability only applies to private Wi-Fi networks that involve multiple ... More >>

Some new fathers fear taking parental leave

Tuesday, 17 October 2017, 2:09 pm | Hays

Fifty-three per cent of New Zealanders believe that new fathers don’t take the full parental leave they are entitled to because of fear they will be viewed as less committed to their job. More >>

BNZ in talks with staff over restructure

Tuesday, 17 October 2017, 2:08 pm | BusinessDesk

Oct. 17 (BusinessDesk) - Bank of New Zealand is reviewing staff levels at some branches and is in talks with workers as part of a drive to adopt new digital technology in an environment where more customers are doing their banking online. More >>

New Zealand building costs expected to moderate from highs

Tuesday, 17 October 2017, 2:06 pm | BusinessDesk

Oct. 17 (BusinessDesk) - New Zealand building costs are expected to moderate given the low inflation environment, an inability to pass on rising costs, and as migrants help fill building skill shortages. More >>

NZ third quarter inflation higher than expected

Tuesday, 17 October 2017, 2:05 pm | BusinessDesk

Oct. 17 (BusinessDesk) - New Zealand consumer prices were higher than expected in the third quarter as housing-related costs continued to increase. More >>

Aussies Lead Overseas Invasion at Air NZ Queenstown Marathon

Tuesday, 17 October 2017, 1:03 pm | Air New Zealand

The Air New Zealand Queenstown International Marathon is already well established as an iconic event, one renowned globally for its stunning location, scenery and the hospitality offered at New Zealand’s largest annual marathon race.* More >>

Some New Fathers Fear Taking Parental Leave - Here’s Why ...

Tuesday, 17 October 2017, 12:18 pm | Hays

Fifty-three per cent of New Zealanders believe that new fathers don’t take the full parental leave they are entitled to because of fear they will be viewed as less committed to their job. More >>

GeoOp quits planned ASX IPO, gets more shareholder funding

Tuesday, 17 October 2017, 12:13 pm | BusinessDesk

Oct. 17 (BusinessDesk) - GeoOp has quit plans for an initial public offering and Australian listing after reaching an impasse with the Australian Securities Exchange, and will instead stay on the NZAX and rely on cornerstone shareholder North Ridge ... More >>

The George Named in Top Ten Readers Choice Awards

Tuesday, 17 October 2017, 12:03 pm | The George

The George, one of New Zealand’s most treasured boutique hotels and the only hotel in Christchurch with a one to one staff to guest ratio has been named in the top ten hotels in Australia and New Zealand by the readers of Conde Nast Traveler magazine. ... More >>

NZ dollar steady before inflation data

Tuesday, 17 October 2017, 11:36 am | BusinessDesk

Oct. 17 (BusinessDesk) - The New Zealand dollar was little changed ahead of figures expected to show inflation picked up in the third quarter, holding in a narrow trading range pending the outcome of talks to form the new government. More >>

Manufacturing industry using the most energy

Tuesday, 17 October 2017, 11:35 am | Statistics New Zealand

The manufacturing industry was the largest user of total energy in the year ended March 2017, Stats NZ said today. This industry accounted for 49 percent of total energy use, compared with 62 percent in 2012. More >>

Shoddy Workmanship Warning for DIYers & Weekend Warriors

Tuesday, 17 October 2017, 11:28 am | AA Insurance

Reality DIY shows may inspire would -be weekend warriors to get stuck into their own renovations, but shoddy workmanship may not only cost you money to fix, but also invalidate your insurance cover warns AA Insurance. More >>

Housing Pushes Annual Inflation Rate to 1.9%

Tuesday, 17 October 2017, 11:26 am | Statistics New Zealand

The consumers price index (CPI) had an annual increase of 1.9 percent, and rose 0.5 percent from the June 2017 quarter, Stats NZ said today. This comes after 0.0 percent quarterly, and 1.7 percent annual, inflation last quarter. Collectively, ... More >>

Cash jobs leave a trail - new IR campaign launching

Tuesday, 17 October 2017, 11:19 am | Inland Revenue Department

Tradies are being reminded that every undeclared cash job leaves a trail in a hard-hitting campaign from Inland Revenue. More >>

While you were sleeping: Wall St, dollar rise on rate bets

Tuesday, 17 October 2017, 11:07 am | BusinessDesk

Oct. 17 (BusinessDesk) - Wall Street and the US dollar advanced a day after Federal Reserve Chair Janet Yellen bolstered expectations the central bank will raise interest rates once more this year. More >>

NZ Q3 CPI Release

Tuesday, 17 October 2017, 11:05 am | HiFX

The NZ Consumer Price Index (CPI) for Q3 has just been released. The CPI came in higher than expected. NZ CPI Q3/Annual: Headline Q3 CPI +0.5% / +1.9% Consensus 0.4% / +1.8% Non-tradables CPI +0.7% / +2.6% versus previous quarter Tradables CPI +0.2% ... More >>

Krack Global Security Vulnerability of Wi-Fi Networks

Tuesday, 17 October 2017, 11:02 am | Spark

Spark has become aware overnight of a global security vulnerability that has the potential to put all Wi-Fi networks, and the devices that access those networks, at risk of being compromised. We are not aware of any Spark customers who have been ... More >>

Tamarillo Products Exported to US Boutique Food Company

Tuesday, 17 October 2017, 10:59 am | TAMCO

New Zealand’s Tamarillo Co-operative has signed a major deal with a distributor allowing Tamarillo Marinade and Tamarillo Vinegar to be sold in the US and Canada. The first of shipment of tamarillo pulp has left Whangarei for US-based food producer ... More >>

Statement of Preliminary Issues released for Daiken/Dongwha

Tuesday, 17 October 2017, 10:42 am | Commerce Commission

The Commerce Commission has published a statement of preliminary issues relating to the proposed acquisition of Dongwha New Zealand Limited by Daiken New Zealand Limited. More >>

Banking Ombudsman Annual Report 2017

Tuesday, 17 October 2017, 10:33 am | Banking Ombudsman

“We are really proud of what we have achieved this year”- said Banking Ombudsman, Nicola Sladden. “Our numbers show that we are helping more people, faster, with better service”. Queries from customers are up 12% with the average timeframe to ... More >>

$40,000 MPI funding to get high value ginseng exporting

Tuesday, 17 October 2017, 10:31 am | Ministry For Primary Industries

A South Waikato ginseng producer is ready to approach potential investors to increase its production and exports with the help of funding of up to $40,000 from the Ministry for Primary Industries (MPI). More >>

Summer KiwiSaver scheme gets second hallmark of clarity

Tuesday, 17 October 2017, 10:07 am | Forsyth Barr

Forsyth Barr’s Product Disclosure Statement for its Summer KiwiSaver scheme has again been awarded the WriteMark — the hallmark of document clarity and quality. More >>

Isentia Appoints New Zealand Country Manager

Tuesday, 17 October 2017, 8:59 am | iSentia

Leading data intelligence business, Isentia, has today announced the appointment of a new Country Manager for New Zealand, Russ Horell. More >>

Over 100 Jobs at Risk in BNZ restructure - FIRST Union

Tuesday, 17 October 2017, 8:56 am | First Union

Over 100 jobs at risk in massive BNZ restructure - FIRST union More than 100 jobs are at risk at BNZ as the banking giant enters a “massive” restructure in its branch network. FIRST Union, the union representing workers at BNZ and the country’s ... More >>

HiFX Morning Update, October 17, 2017

Tuesday, 17 October 2017, 8:10 am | HiFX

The NZDUSD opens at 0.7169 (mid-rate) this morning. The NZD has edged higher against the majority of its trading partners with this morning’s Q3 inflation report set to signal direction from here. This morning’s Q3 Consumer Price Index (CPI) is ... More >>

Judge gets Facebook news primer in media merger hearing

Monday, 16 October 2017, 9:29 pm | BusinessDesk

Oct. 16 (BusinessDesk) - Justice Robert Dobson and his self-confessed "Luddite ways" was shown how news can be shared via social media during day one of Stuff and NZME's appeal against the Commerce Commission's rejection of their planned merger. More >>

MARKET CLOSE: NZ shares mixed as blue-chips buoy market

Monday, 16 October 2017, 8:46 pm | BusinessDesk

MARKET CLOSE: NZ shares mixed as blue-chips NZ Refining, Fletcher, Spark buoy broader market More >>