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Latest Business Headlines

Grey Lynn drops out of Top 10 list of sale volumes

Friday, 22 March 2019, 8:56 am | REINZ

After making its entrance into the Top 10 list of highest sale volume suburbs in 2017, trendy inner-city suburb Grey Lynn has again fallen out of the Top 10 list, according to the latest data from the Real Estate Institute of New Zealand (REINZ), ... More >>

MARKET CLOSE: NZ shares rise on Fed restraint

Thursday, 21 March 2019, 8:58 pm | BusinessDesk

March 21 (BusinessDesk) - New Zealand shares rose after the US Federal Reserve signalled no rate rises there this year and local GDP data came in stronger than many economists had expected. Auckland International Airport extended its decline from a record, ... More >>

KiwiSaver manager Milford dumps $14m of Facebook shares

Thursday, 21 March 2019, 8:57 pm | BusinessDesk

March 21 (BusinessDesk) - KiwiSaver fund manager Milford Asset Management dumped its shareholdings in social media giant Facebook on Monday and joined the call from government-backed retirement fund managers for Facebook, Google and Twitter to take ... More >>

NZ dollar subsides after early boost from Fed, GDP data

Thursday, 21 March 2019, 8:55 pm | BusinessDesk

March 21 (BusinessDesk) - The New Zealand dollar ended the session little changed after earlier rising on dovish statements from the Federal Reserve and after local GDP figures exceeded expectations. More >>

Patience needed for Fonterra's streamlining, says FNZC

Thursday, 21 March 2019, 7:17 pm | BusinessDesk

March 21 (BusinessDesk) - Farmers and investors will need to be patient with Fonterra Cooperative Group's overhaul of its business, which sometime-critic First NZ Capital analyst Arie Dekker says is moving in the right direction. More >>

Agria, Lai fined $220,000 for good character breaches

Thursday, 21 March 2019, 5:35 pm | BusinessDesk

March 21 (BusinessDesk) - PGG Wrightson’s largest shareholder Alan Lai and his company Agria have been fined $220,000 and ordered to pay another $30,000 in costs by the High Court for breaching good character conditions imposed by the Overseas ... More >>

Moderate GDP growth unlikely to worry RBNZ, economists say

Thursday, 21 March 2019, 5:03 pm | BusinessDesk

March 21 (BusinessDesk) - New Zealand’s economy grew less than the central bank expected in the fourth quarter but economists don't expect the data to spur any change in the Reserve Bank's message at next week's policy review. More >>

Trade Me supports Government’s firearms law amendments

Thursday, 21 March 2019, 4:41 pm | Trademe

Trade Me is supportive of today’s announcement by Prime Minister Jacinda Ardern to reform New Zealand’s firearms laws. More >>

Four waterfront properties come to market in Tauranga

Thursday, 21 March 2019, 3:48 pm | Bayley's Real Estate

Four waterfront properties come to market on Tauranga’s rural inner-harbour More >>

A first for New Zealand

Thursday, 21 March 2019, 2:13 pm | Smartcookie8

We are a brand new car platform based in New Zealand specialising in getting your car fixed and keeping it safe with over 3000 repair shops appearing on our site. We are the first platform of its kind in New Zealand and as far as we know, the rest ... More >>

Auckland Convention Bureau launch new networking series

Thursday, 21 March 2019, 1:33 pm | Auckland Tourism Events and Economic Development

Auckland Convention Bureau (ACB), in conjunction with Celebrity Speakers, are enhancing the region’s business events sector with the launch of a new networking series called biz b4 nine (Business before 9). More >>

Canterbury company moves forward in building community

Thursday, 21 March 2019, 1:25 pm | PledgeMe

Lyttelton based Collett’s Corner Limited, a community focussed property developer, has successfully met its funding target during an equity crowdfunding campaign offering Kiwis an opportunity to own a piece of their first commercial building. Collett’s ... More >>

Agria fined $220,000 for overseas investment breach

Thursday, 21 March 2019, 12:58 pm | LINZ

Today the High Court imposed fines totalling $220,000 against Agria and Mr Alan Lai for breaches of the requirement to remain of good character under conditions of Agria’s investment in PGG Wrightson. More >>

What to do if your home is subsiding

Thursday, 21 March 2019, 12:13 pm | Mainmark

Foundations are one of the most structurally significant parts of any home. While solid, stable foundations can help to support a home for years to come, buildings can and will move. A fundamental reason for this movement is changes affecting the ... More >>

Coastal home for sale provides the best in energy efficiency

Thursday, 21 March 2019, 12:04 pm | Bayleys

A Beachlands house, the first Passive House Plus in New Zealand to be awarded a 10 Homestar built rating, has been put on the market for sale. More >>

SIS Group to partner with Platform 4 Group

Thursday, 21 March 2019, 11:59 am | Platform 4

A leading Auckland based security provider has attracted investment from globally recognised SIS Group via its Australian subsidiary, which includes MSS Security ( More >>

No trade wobbles in China for Fonterra

Thursday, 21 March 2019, 11:26 am | BusinessDesk

March 21 (BusinessDesk) - Fonterra Cooperative Group hasn't faced any issues getting its products into China, where its business hit some speed wobbles when the butter market slowed. More >>

Balance sheet concerns loom after Metroglass downgrade

Thursday, 21 March 2019, 11:13 am | BusinessDesk

March 21 (BusinessDesk) - There were already signs of blood in the water and sharks circling Metro Performance Glass, even before this week’s profit downgrade. More >>

NZ dollar benefits from dovish Federal Reserve

Thursday, 21 March 2019, 11:11 am | BusinessDesk

March 21 (BusinessDesk) - The New Zealand dollar rose after the US Federal Reserve signalled only one further rate hike in 2020. More >>

XE Data Update - NZ Q4 GDP Release

Thursday, 21 March 2019, 11:02 am | HiFX

The NZ GDP for Q4 has just been released. The GDP for Q4 came weaker than forecast overall: Adjusted GDP Q4/ Annual : GDP +0.6% / +2.3% Consensus +0.6% / +2.5% NZ GDP over the last 12 months has increased by 2.8%. The RBNZ had previously forecast +0.8% ... More >>

First NZ's return to Jarden moniker

Thursday, 21 March 2019, 10:59 am | BusinessDesk

March 21 (BusinessDesk) - First NZ Capital's plans to reclaim its Jarden moniker is part of a 10-year plan to encapsulate an expanding suite of businesses with a greater impact on the capital markets. More >>

Service industries drive GDP growth

Thursday, 21 March 2019, 10:51 am | Statistics New Zealand

Gross domestic product (GDP) grew 0.6 percent in the December 2018 quarter, after a 0.3 percent rise in the previous quarter, Stats NZ said today. More >>

AI Day 2019 adds panel debate on how AI technology can help

Thursday, 21 March 2019, 10:19 am | Storicom

AI Day 2019 adds panel debate on how AI technology can help create safer societies More >>

Kiwis worried about online security but taking risks

Thursday, 21 March 2019, 9:29 am | Kantar TNS New Zealand

New research reveals New Zealanders are worried about their online security but most are not doing the simple things they know they should to protect themselves. More >>

Hawke's Bay dairy farmers win the East Coast Ballance Awards

Thursday, 21 March 2019, 9:28 am | Ballance Farm Environment Awards

Genuine passion for environment, industry and community sees Hawke's Bay dairy farmers win the East Coast Ballance Farm Environment Awards More >>

BitPrime Cryptocurrency Price Update

Thursday, 21 March 2019, 9:15 am | BitPrime

Cryptocurrency Market Market capitalisation yesterday: NZD$205,168,180,603 Market capitalisation today: NZD$202,918,531,371 Change: -1.10% More >>

Continued high pace of acquisition activity for Alvarium

Thursday, 21 March 2019, 8:57 am | Alvarium Investments

Thursday 21 March 2019: Alvarium Investments (formerly LJ Partnership), a leading independent global investment boutique, today announced the acquisition of Iskander, an asset manager dedicated to large private investors, giving it a presence in France ... More >>

HiFX morning Update, March 21, 2019

Thursday, 21 March 2019, 8:50 am | HiFX

The NZDUSD opens at 0.6909 (mid-rate) this morning. More >>

MARKET CLOSE: NZ shares fall as Synlait drops

Wednesday, 20 March 2019, 9:01 pm | BusinessDesk

March 20 (BusinessDesk) - New Zealand shares fell for a second day, led lower by Synlait Milk after the dairy company reported weaker earnings, disappointing investors who had anticipated another strong result. More >>

Govt fund managers call for social media changes

Wednesday, 20 March 2019, 9:00 pm | BusinessDesk

March 20 (BusinessDesk) - The managers of five government-related funds with more than $90 billion in funds under management say they are adding their weight to callers for multi-national social media owners Facebook, Twitter and Google to take action ... More >>

NZ dollar eases amid snags in US-China trade talks

Wednesday, 20 March 2019, 8:59 pm | BusinessDesk

March 20 (BusinessDesk) - The New Zealand dollar eased a little, dragged down as falling interest rates hurt the Australian dollar and concerns persisted about snags in trade talks between the United States and China. More >>

Pan Pac cleared over handling of outfall leak

Wednesday, 20 March 2019, 5:51 pm | BusinessDesk

March 20 (BusinessDesk) - Pan Pac Forest Products has been cleared over its handling of damage to its wastewater outfall off the coast north of Napier. More >>

Fonterra to hit debt reduction target from asset sales

Wednesday, 20 March 2019, 4:52 pm | BusinessDesk

Fonterra to hit debt reduction target from announced asset sales More >>

Fonterra Director to Speak at Northland Dairy Conference

Wednesday, 20 March 2019, 4:22 pm | Northland Dairy Development Trust

Minister of Agriculture and Fonterra Director to Speak at Northland Dairy Conference More >>

Sales Top $1 million in Classic Car Auction

Wednesday, 20 March 2019, 3:29 pm | Webbs

On Sunday the 17 March, Auckland based auction house Webb’s offered one of the most distinguished personal collections of Classic Cars to be auctioned in New Zealand. With more than four hundred spectators and bidders in the room, telephone bidders ... More >>

Statement of Preliminary Issues released for GSK application

Wednesday, 20 March 2019, 3:05 pm | Commerce Commission

Statement of Preliminary Issues released for GSK’s application to acquire Pfizer’s consumer healthcare business More >>

Businesses need to promote sustainability credentials more

Wednesday, 20 March 2019, 3:00 pm | NZ Ecolabelling Trust

Businesses aren’t doing enough to tell consumers and customers about the good environmental and social work they are doing. More >>

Interim Results support the need for fundamental change

Wednesday, 20 March 2019, 2:46 pm | Fonterra Co-operative Group Ltd

The Fonterra Shareholders’ Council supports today’s acknowledgement that fundamental change is needed to improve the performance of the Co-operative. More >>

NZ annual BOP widens in December

Wednesday, 20 March 2019, 2:09 pm | BusinessDesk

March 20 (BusinessDesk) - New Zealand’s annual current account deficit continued to widen in the December quarter and the nation’s net international liability position worsened as offshore assets took a hit. More >>

UPDATE: Synlait shares plunge on 1H profit decline

Wednesday, 20 March 2019, 2:07 pm | BusinessDesk

March 20 (BusinessDesk) - Synlait Milk shares dropped more than 17 percent after the company reported a 9.7 percent decline in first-half net profit on lower margins. More >>

Result of QEII National Trust 2019 Director elections

Wednesday, 20 March 2019, 1:56 pm | QEII National Trust

Members of the QEII National Trust have elected Donna Field and Graham Mourie to serve as Directors on the QEII Board. Both candidates will serve a three-year term, effective immediately. More >>

Six Months And 20,000 People Flying with Air Chathams

Wednesday, 20 March 2019, 1:55 pm | Air Chathams

Air Chathams has hit the six month mark for its Kāpiti – Auckland route after starting services on the 20th August 2018. More >>

Urban-fringe kiwifruit orchard with growth potential

Wednesday, 20 March 2019, 1:45 pm | Bayleys

One of closest commercial kiwifruit orchards to Auckland’s urban boundary – with potential to treble its production capacity – been placed on the market for sale. More >>

Forex trader admits defrauding clients of $7 million

Wednesday, 20 March 2019, 1:27 pm | Serious Fraud Office

A foreign exchange broker has pleaded guilty to running a Ponzi scheme to defraud his clients of more than $7 million. More >>

Synlait reports 9.7% decline in 1H net profit

Wednesday, 20 March 2019, 12:18 pm | BusinessDesk

March 20 (BusinessDesk) - Synlait Milk reported a 9.7 percent decline in first-half net profit on lower margins for its fully-finished infant formula but said it continues to expect a lift in full-year earnings. More >>

Fonterra returns to the black with a $76m first-half profit

Wednesday, 20 March 2019, 12:00 pm | BusinessDesk

March 20 (BusinessDesk) - Fonterra Co-operative Group has reported a $76 million first-half net profit. Newly confirmed chief executive Miles Hurrell says it’s good to be back in the black but performance is not where it should be. More >>

Significant Investment in Major Growth Projects for Synlait

Wednesday, 20 March 2019, 11:32 am | Synlait

20 MARCH 2019 - NPAT half year profit of $37.3 million - Re-confirmed guidance for canned infant formula volumes of 41,000 – 45,000 MT - Manufacturing efficiencies have supported improved production and sales volumes - Key growth projects including ... More >>

Dairy product prices gain as supply is set to ease

Wednesday, 20 March 2019, 11:15 am | BusinessDesk

March 20 (BusinessDesk) - Dairy product prices rose at the Global Dairy Trade auction, increasing for the eighth consecutive time, as dry weather conditions are weighing on supply. More >>

NZ dollar remains in tight range, focus on FOMC

Wednesday, 20 March 2019, 11:06 am | BusinessDesk

March 20 (BusinessDesk) - The New Zealand dollar remained in a tight range ahead of tomorrow's Federal Reserve’Open Market Committee decision but was supported by a lift in dairy auction prices overnight. More >>

Current account deficit unchanged at $2.5 billion

Wednesday, 20 March 2019, 10:51 am | Statistics New Zealand

New Zealand's seasonally adjusted current account deficit was $2.5 billion in the December 2018 quarter, Stats NZ said today. More >>

Jasmax Appoints Two New Wellington Principals

Wednesday, 20 March 2019, 10:43 am | JASMAX

Jasmax is pleased to announce the appointment of architects Evelyn Axten and Alistair Luke to Principal in the Wellington Studio. Their appointments are driven by growth opportunities in the region and Jasmax’s commitment to continued success in the ... More >>

Healthscope Selects Unisys to Protect Critical Systems

Wednesday, 20 March 2019, 9:48 am | UNISYS

Unisys Corporation (NYSE: UIS) today announced that Australia and New Zealand healthcare provider Healthscope – a new client for Unisys – has awarded the company a three-year contract to provide a package of Unisys security solutions, including a Security ... More >>

New Appointment Will Benefit Kāpiti, Porirua

Wednesday, 20 March 2019, 9:26 am | Kapiti Coast Chamber Of Commerce

Kāpiti, Wednesday 20 March 2019 - Heather Hutchings, Chair of the Kāpiti Coast Chamber of Commerce has been appointed as Chair of the Advisory Board of the Porirua Chamber of Commerce, to strengthen business growth in the two districts. Heather ... More >>

Property: More first home buyers, fewer investors

Wednesday, 20 March 2019, 9:22 am | New Zealand Property Institute

First home buyers are the most active in the Kiwi market with a continuing slide in new mortgage registrations for investors, according to the latest Property Institute/Valocity Regional Insights Report. According to the figures, the national median sale price ... More >>

Property Insurance Advice for Wellington

Wednesday, 20 March 2019, 9:19 am | Tall Poppy Real Estate

Following recent uncertainty around property insurance in Wellington, Tall Poppy Real Estate has released the following advice to people buying or selling property in the Wellington Region. More >>

Dates set for the 2019 NZ Young Viticulturist of the Year

Wednesday, 20 March 2019, 9:12 am | New Zealand Winegrowers

The Bayer NZ Young Viticulturist of the Year Competition is now in its fourteenth year and to take out the coveted title has become a key goal for many young viticulturists in New Zealand. More >>

Fonterra Announces 2019 Interim Results

Wednesday, 20 March 2019, 9:09 am | Fonterra

Fonterra Co-operative Group Limited today announced its 2019 Interim Results which show the Co-op has returned to profitability with a Net Profit After Tax (NPAT) of $80 million, but normalised Earnings Before Interest and Tax (EBIT) are down 29% ... More >>

HiFX morning Update, March 20, 2019

Wednesday, 20 March 2019, 9:02 am | HiFX

The NZDUSD opens at 0.6857 (mid-rate) this morning. More >>

BitPrime Cryptocurrency Price Update

Wednesday, 20 March 2019, 8:59 am | BitPrime

Cryptocurrency Market Market capitalisation yesterday: NZD$202,874,599,722 Market capitalisation today: NZD$205,168,180,603 Change: 1.13% More >>

MARKET CLOSE: NZ shares fall in muted trading

Tuesday, 19 March 2019, 8:53 pm | BusinessDesk

March 19 (BusinessDesk) - New Zealand shares fell from a record in quiet trading. Gentrack led the declines as investors fretted over the Brexit implications for the UK exposed utilities software developer. More >>