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Latest Business Headlines [Page 3]

Entries open for 2018 Diversity Awards NZ

Wednesday, 21 February 2018, 2:01 pm | Diversity Works

It’s time to celebrate the New Zealand organisations championing diversity and inclusion in the workplace. More >>

Lyttelton port workers to take 24-hour stoppage

Wednesday, 21 February 2018, 1:55 pm | Rail And Maritime Transport Union

Workers at Lyttelton Port have given 14 days’ notice of a 24-hour strike on Thursday 8 March after mediation failed to resolve concerns over safety and pay today. More >>

A2's shares hit record on 1H results, Fonterra deal

Wednesday, 21 February 2018, 1:21 pm | BusinessDesk

Feb. 21 (BusinessDesk) - A2 Milk shares spiked 16 percent to a record after the company announced it had more than doubled first-half profit on strong infant formula sales and has aligned itself with Fonterra Cooperative Group which will see the two companies ... More >>

Focus on collaboration at D5 Government Showcase

Wednesday, 21 February 2018, 1:17 pm | Ministry of Business Innovation and Employment

Better for Business (B4B) , a cross-agency programme led by the Ministry of Business, Innovation & Employment (MBIE), has partnered with its nine other agencies to showcase a range of breakthrough government services and digital initiatives designed ... More >>

Strong December quarter processing leaves fewer livestock

Wednesday, 21 February 2018, 1:14 pm | Beef And Lamb NZ

The remaining livestock available for processing for the rest of the season will be less than in any of the previous five seasons, according to a forecast by Beef + Lamb New Zealand’s Economic Service (B+LNZ). More >>

IR takes AIM at provisional tax

Wednesday, 21 February 2018, 1:08 pm | Inland Revenue Department

Inland Revenue is urging businesses with annual turnover under $5 million to talk with their accounting software provider or tax agent about a new option that allows them to pay provisional tax only when they are making a profit. More >>

UPDATE: Spark first-half profit falls 3.4%

Wednesday, 21 February 2018, 1:06 pm | BusinessDesk

UPDATE: Spark first-half profit falls 3.4% as cost of Quantum transformation offsets revenue gain More >>

UPDATE: Ebos 1H profit lifts 12% to record $76.7M

Wednesday, 21 February 2018, 1:05 pm | BusinessDesk

Feb. 21 (BusinessDesk) - Ebos Group, the pharmaceutical and animal health products maker, said its first-half profit lifted 12 percent as it reaps the benefits of a diverse portfolio and it remains positive about the full year. More >>

Fletcher posts $273 mln 1H loss on B+I

Wednesday, 21 February 2018, 12:40 pm | BusinessDesk

Feb. 21 (BusinessDesk) - Fletcher Building reported a first-half loss, reflecting losses at its Building + Interiors unit and said profit was down at its other construction businesses and in building products. More >>

A2 Milk first-half profit soars 150%

Wednesday, 21 February 2018, 12:26 pm | BusinessDesk

Feb. 21 (BusinessDesk) - A2 Milk more than doubled first-half profit on strong infant formula sales and has aligned itself with Fonterra Cooperative Group which will see the two companies partner up on a range of products. More >>

The Easing Trend Continues

Wednesday, 21 February 2018, 12:22 pm | Real Estate Institute Of New Zealand

Data released today by the Real Estate Institute of NZ (REINZ) shows there were 100 fewer lifestyle property sales (-5.5%) for the three months ended January 2018 than for the three months ended January 2017. Overall, there were 1,726 lifestyle property ... More >>

A Steady Opening to the New Year

Wednesday, 21 February 2018, 12:18 pm | Real Estate Institute Of New Zealand

Data released today by the Real Estate Institute of New Zealand (REINZ) shows there were 125 fewer farm sales (-24.0%) for the three months ended January 2018 than for the three months ended January 2017. Overall, there were 396 farm sales in the three ... More >>

FIRST CUT: Low hydro flows cut Meridian earnings

Wednesday, 21 February 2018, 12:14 pm | BusinessDesk

Feb. 21 (BusinessDesk) - Meridian Energy, the renewables electricity generator and retailer, posted a 7 percent fall in first-half earnings as low inflows into its South Island hydro catchments reduced its electricity output. More >>

FIRST CUT: Spark first-half profit falls 3.4%

Wednesday, 21 February 2018, 11:58 am | BusinessDesk

Feb. 21 (BusinessDesk) - Spark New Zealand's first-half profit fell 3.4 percent as the country's biggest telecommunications company ramped up spending on a new transformation programme aimed at making it the nation's lowest cost operator More >>

Vodafone network update re: Cyclone Gita

Wednesday, 21 February 2018, 11:56 am | Vodafone NZ

We hope everyone in Gita-affected areas continues to stay safe and our thoughts are with those who needed to be evacuated or suffered damage to their homes or communities. More >>

FIRST CUT: Ebos 1H profit lifts 12% to record $76.7M

Wednesday, 21 February 2018, 11:55 am | BusinessDesk

Feb. 21 (BusinessDesk) - Ebos Group, the pharmaceutical and animal health products maker, said its first-half profit lifted 12 percent as it reaps the benefits of a diverse portfolio. More >>

NZ dollar falls against resurgent greenback

Wednesday, 21 February 2018, 11:33 am | BusinessDesk

Feb. 21 (BusinessDesk) - The New Zealand dollar fell against a resurgent greenback, which has climbed on a trade-weighted basis this week, as dairy prices declined for the first time this year and traders looked ahead to Reserve Bank governor Grant ... More >>

International visitors spending up five per cent in 2017

Wednesday, 21 February 2018, 11:32 am | Ministry of Business Innovation and Employment

Spending by international visitors in New Zealand was $10.6 billion for the year to December 2017, according to the latest International Visitor Survey released today by the Ministry of Business, Innovation and Employment (MBIE). More >>

Regional rail funding announcement imminent

Wednesday, 21 February 2018, 11:27 am | BusinessDesk

Feb. 21 (BusinessDesk) - Extra funding to bring the Napier-Wairoa railway line back into full-time service appears imminent, given signals yesterday from KiwiRail chief executive Peter Reidy and the announcement on Friday of the first projects to get ... More >>

Meccano 2016 Limited Goes Into Voluntary Administration

Wednesday, 21 February 2018, 11:19 am | Meccano

It is with disappointment that Meccano 2016 Ltd director Vere Sharma announces that the company will go into administration today, Wednesday 21st February 2018. More >>

Supplements producer warned over “Pharmacy Strength” claims

Wednesday, 21 February 2018, 11:18 am | Commerce Commission

The Commerce Commission has issued a warning to Endeavour Consumer Health Limited (Endeavour) over its use of the term “Pharmacy Strength” in marketing its Red Seal Pharmacy Strength range of nutritional supplements. More >>

Heartland keen to beef up profitable reverse mortgage book

Wednesday, 21 February 2018, 11:09 am | BusinessDesk

Feb. 21 (BusinessDesk) - Heartland Bank says it would be happy to grow the size of its $1 billion reverse mortgage loan book after the business delivered "strong" earnings, especially in Australia. More >>

While you were sleeping: Slump in Walmart weighs on Dow

Wednesday, 21 February 2018, 11:07 am | BusinessDesk

Feb. 21 (BusinessDesk) - Wall Street was mixed, as a slide in Walmart shares weighed on the Dow, while US Treasuries slid amid this week’s flood of government debt auctions. More >>

Meccano menswear chain enters Voluntary Administration

Wednesday, 21 February 2018, 10:53 am | KordaMentha

KordaMentha partners, Grant Graham and Neale Jackson, have been appointed Voluntary Administrators by the Board of menswear clothing retailer, Meccano 2016 Limited, trading as Meccano. More >>

Dairy product prices slip for the first time this year

Wednesday, 21 February 2018, 10:13 am | BusinessDesk

Feb. 21 (BusinessDesk) - Dairy product prices declined at the Global Dairy Trade auction, sliding for the first time this year after three consecutive increases. More >>

ICNZ urges people affected by Gita to contact their insurers

Wednesday, 21 February 2018, 9:50 am | Insurance Council of New Zealand

The Insurance Council is advising people affected by Cyclone Gita to contact their insurers directly. More >>

Soltius ups predictive analytics offerings

Wednesday, 21 February 2018, 9:36 am | Soltius New Zealand

AUCKLAND, New Zealand – Wednesday 21 February, 2018 –Soltius, one of New Zealand’s largest teams of SAP consultants, has appointed Habib Baluwala as Data Scientist for its Analytics team as the company increases its push to help customers gain more ... More >>

Forestry a success story for KiwiRail

Wednesday, 21 February 2018, 9:25 am | KiwiRail

KiwiRail is reaping the benefits of an innovative growth strategy for its forestry business designed to make the best use of its wagon fleet. More >>

Spark New Zealand H1 FY18 Results

Wednesday, 21 February 2018, 9:23 am | Spark NZ

Spark New Zealand Chair Justine Smyth said today the financial results for the half year to 31 December 2017 show Spark has made good progress on its bold transformation strategy. More >>

Borrin grant will help make better law for separated couples

Wednesday, 21 February 2018, 9:11 am | Law Commission

The Law Commission is delighted that the Michael and Suzanne Borrin Foundation has made a grant to research New Zealanders’ attitudes about and experiences of dividing relationship property. More >>

Lightbox upgrades its platform

Wednesday, 21 February 2018, 9:08 am | Lightbox

Lightbox is upgrading its technology platform and will shortly launch Lightbox Movies, an on-demand pay per view movie service; Standard and Premium TV subscription options with enhanced features such as temporary downloads and Lightbox Kids, a dedicated ... More >>

Fonterra And A2 Milk Company Form Comprehensive Strategy

Wednesday, 21 February 2018, 8:48 am | Fonterra Co-operative Group Ltd

Fonterra Co-operative Group Limited (Fonterra) and The a2 Milk Company (a2MC) have today entered into a comprehensive strategic relationship that links Fonterra’s global milk pool and supply chain, manufacturing capability and in-market sales and ... More >>

Meridian delivers dividend growth despite dry conditions

Wednesday, 21 February 2018, 8:40 am | Meridian Energy

Meridian is pleased to declare a resilient interim dividend for the six months to 31 December 2017, up 1% on the same period last year. This is despite low inflows in Meridian’s New Zealand hydro catchments, which saw a 16% reduction in the amount ... More >>

HiFX Morning Update, February 21 2018

Wednesday, 21 February 2018, 8:13 am | HiFX

The NZDUSD opens at 0.7348 (mid-rate) this morning. For the first time in 2018 and breaking three consecutive rises in global dairy prices, this morning’s GDT auction resulted in a marginal fall in the price index. Volumes also dipped with 20,256MT ... More >>

MARKET CLOSE: NZ shares fall as raft of earnings loom

Tuesday, 20 February 2018, 8:32 pm | BusinessDesk

MARKET CLOSE: NZ shares fall as raft of earnings loom; Heartland, Fletcher drop, Sky TV, Air NZ gain More >>

NZ dollar falls vs greenback, Aussie as investors seek clues

Tuesday, 20 February 2018, 8:31 pm | BusinessDesk

Feb. 20 (BusinessDesk) - The New Zealand dollar fell against the greenback and Australian dollar as investors unpick central bank meeting minutes for clues over increasingly divergent interest rate tracks. More >>

Bapcor's ex-Hellaby auto unit still exceeding expectations

Tuesday, 20 February 2018, 6:56 pm | BusinessDesk

Feb. 20 (BusinessDesk) - ASX-listed Bapcor is still being pleasantly surprised by the former Hellaby Holdings automotive unit, which delivered a 29 percent increase in first-half earnings. More >>

Feedback sought for upgrade of fertiliser-spreader standard

Tuesday, 20 February 2018, 6:36 pm | New Zealand Groundspread Fertiliser Association

The (NZGFA) is calling on fertiliser spreaders up and down the country to have their say ahead of a review of the industry’s Spreadmark programme. More >>

KiwiRail operating earnings rise despite Kaikoura outage

Tuesday, 20 February 2018, 6:27 pm | BusinessDesk

Feb. 20 (BusinessDesk) - Disruption to South Island rail services caused by the November 2016 Kaikoura earthquake masked a continuation in improved operating earnings from state-owned railway operator KiwiRail in the six months to Dec. 31. More >>

'Short-term' hit from MPI's stink bug strategy worth it

Tuesday, 20 February 2018, 5:07 pm | BusinessDesk

Used car import body says 'short-term' hit from MPI's stink bug strategy worth it More >>

CBL's European subsidiary fights Irish central bank ban

Tuesday, 20 February 2018, 5:05 pm | BusinessDesk

Feb. 20 (BusinessDesk) - Insurer CBL Corp says its European subsidiary's lawyers are opposing an order from the Central Bank of Ireland instructing it to stop writing new business immediately. More >>

Heating up: Innovator of the Year finalists taking on world

Tuesday, 20 February 2018, 5:03 pm | Farmshed Labs

Heating up: New Zealand Innovator of the Year finalists taking on the world with heat detection device More >>

ASX-listed Super Retail Group pays $144M for Macpac

Tuesday, 20 February 2018, 4:55 pm | BusinessDesk

ASX-listed Super Retail Group pays $144M for Macpac, more than twice the 2015 price More >>

Robotics opportunities in forestry being explored

Tuesday, 20 February 2018, 4:17 pm | Southern Wood Council

Forest safety, improving productivity and getting workers off the felling site has been a major push for forestry managers, forest owners, logging contractors and equipment suppliers to modify their wood harvesting operations over the last few years. Another ... More >>

Stellar Line Up for Low Emissions Conference

Tuesday, 20 February 2018, 3:59 pm | Energy Management Association

The Energy Management Association of New Zealand today revealed its first release of speaker details for its landmark conference in Auckland in May. More >>

Mark Tume appointed chair of Ngāi Tahu Holdings board

Tuesday, 20 February 2018, 3:41 pm | BusinessDesk

Feb. 20 (BusinessDesk) - Mark Tume will rejoin Ngāi Tahu Holdings board this month after almost nine years and will take over the chair later this year, putting him at the helm of two iwi corporate entities. More >>

Fonterra likely to hike milk payment to NZ farmers

Tuesday, 20 February 2018, 3:39 pm | BusinessDesk

Feb. 20 (BusinessDesk) - Fonterra Cooperative Group may lift its farmgate milk price payout to farmers this season following increases in Global Dairy Trade auction prices, according to brokerage OMF. More >>

ANZ extends Veritas' debt for a third time

Tuesday, 20 February 2018, 3:19 pm | BusinessDesk

Feb. 20 (BusinessDesk) - ANZ Bank New Zealand has extended Veritas Investment's debt deadline for the third time as the company seeks shareholder approval to sell the Mad Butcher master franchisor business and continue discussions on other asset sales. More >>

Vocus NZ grabs share of broadband market

Tuesday, 20 February 2018, 3:12 pm | BusinessDesk

Feb. 20 (BusinessDesk) - Vocus Group's New Zealand division, which is up for sale, grabbed market share in the hotly contested domestic broadband space, helping lift first-half revenue albeit on skinnier profit margins. More >>

NZ producer input, output prices rise in Q4

Tuesday, 20 February 2018, 2:28 pm | BusinessDesk

Feb. 20 (BusinessDesk) - New Zealand producer input and output prices rose in the fourth quarter as fuel prices increased. More >>

Promisia shares tumble on Medsafe warning

Tuesday, 20 February 2018, 2:25 pm | BusinessDesk

Feb. 20 (BusinessDesk) - Promisia Integrative shares slumped 72 percent after Medsafe warned its Arthrem product could cause potential liver damage. The company said the number of reported cases is "extremely small" and it stands by its product. More >>

Auckland Airport welcomes new flight to Dubai via Bali

Tuesday, 20 February 2018, 2:20 pm | Auckland Airport

Auckland Airport has welcomed the announcement by Emirates that it will launch a new year-round daily service to Dubai via Bali, Indonesia. More >>

Christchurch hotel set to welcome Golden Oldies to town

Tuesday, 20 February 2018, 1:37 pm | ChristchurchNZ

One local Christchurch hotel owner is counting down the days until the Golden Oldies come to town, confirming record bookings for the month of April. More >>

NZ farmers see limited benefit from high US beef prices

Tuesday, 20 February 2018, 1:34 pm | BusinessDesk

Feb. 20 (BusinessDesk) - New Zealand farmers aren't seeing the full benefit of rising beef prices in the US, their largest market for the meat, because the stronger kiwi dollar is crimping returns, according to AgriHQ. More >>

Workplace Investigations Certification for Intepeople

Tuesday, 20 February 2018, 1:12 pm | Intepeople

Intepeople Nelson HR Partners Melisa Kappely and Marianne Wilkinson have recently joined a very small number of New Zealand HR Professionals and Lawyers as Association of Workplace Investigators Certificate Holders. More >>

Heartland first-half profit climbs 7%

Tuesday, 20 February 2018, 1:05 pm | BusinessDesk

Feb. 20 (BusinessDesk) - Heartland Bank boosted first-half profit 7 percent as an expanding loan book underpinned all lines of business and strong reverse mortgage growth in Australia whetted the bank's appetite to do more business across the Tasman. More >>

Coca-Cola appoints new GM of People and Culture

Tuesday, 20 February 2018, 12:53 pm | Coca Cola

Coca-Cola Amatil New Zealand is pleased to announce the return of Susan Lowe to the business, this time as General Manager of People and Culture. More >>

Vista Group buys back control of Chinese subsidiary

Tuesday, 20 February 2018, 12:40 pm | BusinessDesk

Feb. 20 (BusinessDesk) - Vista Group International has bought back 7.9 percent of its Chinese entity for $7.7 million, leaving it with 47.5 percent of the business and allowing it to treat the division as a controlled entity within the group. More >>

Strong Half Year result despite challenges

Tuesday, 20 February 2018, 12:38 pm | KiwiRail

KiwiRail has posted a positive half year result with an operating surplus 39% ahead of the previous year, despite a challenging six months. More >>

Heartland Posts Half Year Profit of $31.1m

Tuesday, 20 February 2018, 12:34 pm | Heartland

Heartland Posts Half Year Profit of $31.1m 20 February 2018 Heartland Bank Limited ( Heartland ) (NZX: HBL) achieved a net profit after tax ( NPAT ) of $31.1m for the half year ended 31 December 2017, an increase of seven percent from the half year ... More >>