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Latest Business Headlines [Page 4]

Robust economy drives higher tax take

Thursday, 17 May 2018, 5:25 pm | BusinessDesk

May 17 (BusinessDesk) - Finance Minister Grant Robertson has found an extra $24 billion to spend over the next four years by taking in more tax, reprioritising existing expenses, and thanks to delaying the previous government's debt reduction target ... More >>

Mycoplasma bovis response likely to need ‘significant’ spend

Thursday, 17 May 2018, 5:18 pm | BusinessDesk

May 17 (BusinessDesk) - The government has allocated $85 million of operating funding in the current year to deal with the Mycoplasma bovis outbreak, but a looming report will likely spell out a “significant” bill, Finance Minister Grant Robertson ... More >>

New watchdogs for election spending promises

Thursday, 17 May 2018, 5:14 pm | BusinessDesk

May 17 (BusinessDesk) - The Budget creates three new government quangos to run the rule over political parties’ spending promises, keep tabs on local governments’ administration of the Resource Management Act, and a special tribunal to sort out ... More >>

BUDGET 2018: Govt sets aside $1 bln for R&D tax credit

Thursday, 17 May 2018, 5:11 pm | BusinessDesk

May 17 (BusinessDesk) - The government has set aside about $1 billion over the next four years for tax rebates from the research and development tax credit, which Innovation Minister Megan Woods hopes will spur on the level private sector R&D investment. More >>

Construction sector bottleneck threatens growth

Thursday, 17 May 2018, 5:09 pm | BusinessDesk

May 17 (BusinessDesk) - Bottlenecks in the booming construction industry see weak growth in residential house-building over the next 12 months and have forced the Treasury to halve its forecast rate of progress on the government’s KiwiBuild affordable ... More >>

ProdCom to investigate impacts of disruptive technology

Thursday, 17 May 2018, 5:08 pm | BusinessDesk

May 17 (BusinessDesk) - The Productivity Commission will conduct an investigation into the impacts of technological change and disruption, and the future of work. More >>

NZ capital spend shifted to health, education from transport

Thursday, 17 May 2018, 5:07 pm | BusinessDesk

May 17 (BusinessDesk) - Finance Minister Grant Robertson’s $41.8 billion capital spending programme will divert transport funds into health and education – two areas the government has deemed to be woefully underfunded. More >>

NZ govt tilts debt profile to long-term maturities

Thursday, 17 May 2018, 5:06 pm | BusinessDesk

May 17 (BusinessDesk) - The New Zealand Debt Management Office will increase its sale of government bonds over the next four years, while trimming short-term Treasury bills, lifting the borrowing programme by about $1 billion. More >>

Budget 2018: Not bad, but not much for manufacturers

Thursday, 17 May 2018, 4:32 pm | The Manufacturers' Network

Budget 2018, released today by the Finance Minister, Grant Robertson, ticked some boxes for the economy, particularly around health, with some investment in infrastructure, education and R&D spending. There was, however, little else for the manufacturing ... More >>

R&D tax credits good news in a construction economy

Thursday, 17 May 2018, 4:06 pm | Staples Rodway

R&D tax credits good news in a construction economy Accounting and business advisory firm Staples Rodway has welcomed the return of Research and Development Tax Credits. “Research and Development is crucial to the growth of the New Zealand ... More >>

Budget 2018 and business

Thursday, 17 May 2018, 3:20 pm | BusinessNZ

BusinessNZ Chief Executive Kirk Hope said some of the big ticket items in the Budget would help support business growth. More >>

Budget 2018: Long on welfare, short on productivity

Thursday, 17 May 2018, 3:17 pm | EMA

Budget 2018 announced today revealed that the country’s books are in good order and the Government intends to maintain surpluses over the coming parliamentary term. More >>

CBL Update

Thursday, 17 May 2018, 3:14 pm | Financial Markets Authority

The FMA intends to file a case stated procedure to seek the court’s determination on whether continuous disclosure obligations for listed issuers continue to apply when the issuer is in voluntary administration. More >>

Pushpay meets FY18 guidance as revenue doubles

Thursday, 17 May 2018, 3:14 pm | BusinessDesk

May 17 (BusinessDesk) - Pushpay Holdings, the mobile payments app company, narrowed its net loss as it doubled revenue in 2018, in line with forecasts. More >>

NZ producer input, output prices rise in 1Q - dairy/fuel up

Thursday, 17 May 2018, 3:08 pm | BusinessDesk

May 17 (BusinessDesk) - New Zealand producer input and output prices rose in the first quarter, lifted by increasing fuel and dairy prices. More >>

NZ produces record volumes of milk in April

Thursday, 17 May 2018, 3:05 pm | BusinessDesk

May 17 (BusinessDesk) - New Zealand milk processors collected record levels of milk in April as favourable weather boosted pasture growth. More >>

Infratil results for the full year ended 31 March 2018

Thursday, 17 May 2018, 1:36 pm | Infratil

Infratil results for the full year ended 31 March 2018 17 May 2018 Infratil Limited's Annual Report for the full year ended 31 March 2018 is now available here . More >>

Infratil beats annual profit guidance

Thursday, 17 May 2018, 1:31 pm | BusinessDesk

May 17 (BusinessDesk) - Infratil beat its annual earnings guidance, and said it expects profitability to increase in the future on the back of its recent investments. More >>

Job growth boosted by community services and healthcare

Thursday, 17 May 2018, 1:26 pm | SEEK

• SEEK job ads up 16.5 per cent in April compared to this time last year • Mining and Community Service sectors experience highest growth rates • Rise of regional healthcare jobs across Australia More >>

Briscoe to reimburse staff for unpaid end-of-day cash up

Thursday, 17 May 2018, 1:22 pm | BusinessDesk

May 17 (BusinessDesk) - Briscoe Group will reimburse staff who cashed up at the end of the day but didn’t get paid for the time, something managing director Rod Duke says is company policy. More >>

Rakon gains 7.5% after return to profit

Thursday, 17 May 2018, 1:17 pm | BusinessDesk

May 17 (BusinessDesk) - Rakon shares gained 7.5 percent after the high-tech components maker returned to a full year profit, benefiting from growth in its core markets and some non-recurring gains. More >>

Taitokerau selects Kordia for Northland fibre link upgrade

Thursday, 17 May 2018, 12:43 pm | Kordia

Iwi-owned fibre network operator Taitokerau Fibre Networks has selected mission-critical technology provider Kordia to upgrade its connectivity between Auckland and Whangarei. More >>

NZ dollar climbs from 5-month low ahead of budget

Thursday, 17 May 2018, 11:34 am | BusinessDesk

May 17 (BusinessDesk) - The New Zealand dollar climbed from a five-month low ahead of the Labour-led government's first budget, which is expected to show a relatively upbeat economic and fiscal outlook. More >>

Transpower supports young women in ShadowTech day 2018

Thursday, 17 May 2018, 11:26 am | Transpower

Transpower has once again put its support behind ShadowTech, providing workplace mentors to female students studying Science, Technology, Engineering and Maths (STEM) subjects. More >>

Macy’s upbeat outlook boosts Wall St

Thursday, 17 May 2018, 11:12 am | BusinessDesk

May 17 (BusinessDesk) - Wall Street rose as better-than-expected results from Macy’s lifted its shares as well as those of other retailers and underpinned optimism about consumer spending and the economic outlook. More >>

Annual NZ Print Training Honours Bestowed

Thursday, 17 May 2018, 11:02 am | Print NZ

Dilanka Attale of Kiwi Labels has been bestowed with the prestigious New Zealand Print Apprentice of the Year Award, with Colin Lean of Logan Print named Trainer of the Year and Lightning Labels the Training Company of the Year. More >>

Dairy and fuel push producer prices up

Thursday, 17 May 2018, 10:50 am | Statistics New Zealand

Falling prices for dairy products and higher fuel costs have nudged producer input and output prices up, Stats NZ said today. More >>

Newmarket Business Awards 2018 Finalists Announced

Thursday, 17 May 2018, 10:43 am | Newmarket Business Association

Newmarket is getting set to celebrate the best of the best from across its precinct – from bars and cafes, to designer retailers, shoe stores, accountants and everything in between – with today’s announcement of the 2018 Newmarket Business Awards ... More >>

NZ can do better in the world of agritech

Thursday, 17 May 2018, 10:16 am | Make Lemonade

New Zealand can do better in the world of agritech because it has such great potential for its agriculture industry and monetising big tech investment offshore, a San Diego-based Kiwi from Wellington says. More >>

HiFX Morning Update, May 17 2018

Thursday, 17 May 2018, 9:41 am | HiFX

The NZDUSD opens at 0.6896 (mid-rate) this morning. The Kiwi has managed to recover some ground overnight, after setting new lows around 0.6850 in the current down-trend. More >>

Export award finalists demonstrate vibrancy of sector

Thursday, 17 May 2018, 8:46 am | EMA

The variety of companies named as finalists in the 2018 Air New Zealand Cargo ExportNZ Awards demonstrate the vibrancy of the export sector. More >>

NZ central bank HQ evacuated after trace of asbestos found

Wednesday, 16 May 2018, 9:14 pm | BusinessDesk

May 16 (BusinessDesk) - New Zealand's central bank has temporarily evacuated its headquarters in Wellington after a trace of asbestos was found. Essential operations will occur out of its Auckland premises. More >>

MARKET CLOSE: A2 drags stock index lower

Wednesday, 16 May 2018, 8:40 pm | BusinessDesk

May 16 (BusinessDesk) - New Zealand shares fell as A2 Milk Co disappointed investors with a market update, dragging down partner Synlait Milk. More >>

NZ dollar rises against Australian dollar

Wednesday, 16 May 2018, 8:11 pm | BusinessDesk

May 16 (BusinessDesk) - The New Zealand dollar gained against the Australian dollar as data across the Tasman continued to point to weak wage inflation and therefore no reason to lift rates anytime soon. More >>

FMA hopes sunlight on adviser junkets will spur change

Wednesday, 16 May 2018, 7:34 pm | BusinessDesk

May 16 (BusinessDesk) - The Financial Markets Authority wants insurers to rethink their sales incentives after a report found junkets were being dangled to advisers as a sweetener for a hard pitch on new life and health insurance policies. More >>

Stuff cuts 24 jobs as it closes community, rural titles

Wednesday, 16 May 2018, 7:16 pm | BusinessDesk

May 16 (BusinessDesk) - Media group Stuff will cut 24 jobs when it closes 15 community and rural titles in its shift to digital, after failing to find buyers for the publications. More >>

PharmaZen forecasts 44% jump in 2018 sales

Wednesday, 16 May 2018, 7:14 pm | BusinessDesk

May 16 (BusinessDesk) - PharmaZen, a Christchurch-based manufacturer of plant and animal-based health supplements, is forecasting a 44 percent increase in sales this year and a jump in earnings as the company brings a new plant online. More >>

Deer farmers improving water quality

Wednesday, 16 May 2018, 6:52 pm | Deer Industry NZ

To keep waterways clean, deer farmers are fencing their deer out of streams and taking measures to keep valuable soil where it belongs – on the farm, growing grass. More >>

First Union prepares to do battle with other employers

Wednesday, 16 May 2018, 6:50 pm | BusinessDesk

May 16 (BusinessDesk) - A major union in the finance, retail, manufacturing and industrial space has come out fighting for low-paid staff expected to work for nothing. This follows an Employment Court decision last week that furniture and appliance store ... More >>

CORRECT: Bank of New Zealand rings in executive changes

Wednesday, 16 May 2018, 6:48 pm | BusinessDesk

May 16 (BusinessDesk) - Bank of New Zealand chief executive Angela Mentis is ringing in more changes among her leadership team, with the heads of product development and customer service set to depart at the start of July. More >>

Kevin Bowler named My Food Bag CEO

Wednesday, 16 May 2018, 5:19 pm | My Food Bag

With the appointment of Kevin Bowler to the position of Chief Executive Officer, My Food Bag is ready to take the next steps forward in reaching more of New Zealand with its healthy meal solutions. Bowler has an outstanding track record as a leader ... More >>

Waste Management rode NZ's economic growth in 2017

Wednesday, 16 May 2018, 5:11 pm | BusinessDesk

Waste Management rode NZ's economic growth in 2017, lifting sales; recycling became more tenuous More >>

New employment law would stop Affco serial litigation: Union

Wednesday, 16 May 2018, 5:10 pm | BusinessDesk

The Meat Workers Union says changes to New Zealand's employment law would let them prevent Talleys-owned meat processor Affco from barring unions and taking bargaining to court, a tactic which costs the workers' advocate half a million dollars a year ... More >>

Finalists for 2018 National Pacific Business Trust Awards

Wednesday, 16 May 2018, 4:42 pm | Pacific Business Trust

Finalists have been named across six award categories for the 11th National Pacific Business Trust Awards, which will be staged on Friday 22 June 2018 at Eden Park. More >>

New board member for Diversity Works New Zealand

Wednesday, 16 May 2018, 4:13 pm | Diversity Works

The Equal Employment Opportunities Trust (now operating as Diversity Works New Zealand) has announced the appointment of Fonterra Diversity and Inclusion Manager Susan Doughty to its Board. More >>

Vodafone to acquire full ownership of Farmside

Wednesday, 16 May 2018, 4:05 pm | Vodafone

Vodafone New Zealand Limited (Vodafone NZ) today announced it has reached an agreement with TeamTalk Limited (TeamTalk) (NZX: TTK) to buy the remaining 30 percent stake in BayCity Communications Limited, trading as Farmside, for $3.0 million. More >>

Sumitomo Forestry's NZ unit posts record annual profit

Wednesday, 16 May 2018, 3:37 pm | BusinessDesk

May 16 (BusinessDesk) - Sumitomo Forestry NZ, the local unit of the Japanese timber conglomerate, posted a record profit last year after buying the timber plantations of US forestry investor Hancock in 2016 to secure more supply for its wood processing ... More >>

Union: Employees being asked to work without pay

Wednesday, 16 May 2018, 3:33 pm | First Union

FIRST Union has over the last 48 hours been collating complaints from union and non-union members in retail who allege their respective companies have been expecting (and in some instances asking verbally and in writing) employees to either stay back and ... More >>

Taxi logbook training fills gap in knowledge

Wednesday, 16 May 2018, 3:07 pm | DT Driver Training

The requirement for drivers of small passenger service vehicles to complete a training course to get a P endorsement was removed in October 2017 by the then government. This training included how to fill out a small passenger service vehicle logbook, ... More >>

Insurers spend $34 million on soft commissions

Wednesday, 16 May 2018, 3:05 pm | Financial Markets Authority

A Financial Markets Authority report published today details how nine life and health insurance companies spent $34 million on non-financial incentives like trips, business support and conferences for financial advisers over a two-year period. More >>

BNZ rings in executive changes in product, customer service

Wednesday, 16 May 2018, 3:03 pm | BusinessDesk

May 16 (BusinessDesk) - Bank of New Zealand chief executive Angela Mentis is ringing in more changes among her leadership team, with the heads of product development and customer service set to depart at the start of July. More >>

Report highlights importance of transparency and disclosure

Wednesday, 16 May 2018, 3:00 pm | Financial Services Council

The Financial Services Council welcomes the FMA report on remuneration structures in the insurance industry and the important issues it raises in relation to transparency and disclosure. More >>

Trustpower cut to 'underperform' by First NZ

Wednesday, 16 May 2018, 2:56 pm | BusinessDesk

May 16 (BusinessDesk) - Trustpower got a mixed review from research analysts, with First New Zealand Capital downgrading the stock to 'underperform' as above-normal rainfall slows and retail margins shrink, while rival Morningstar affirmed its view ... More >>

Businesses support reforestation

Wednesday, 16 May 2018, 2:46 pm | Europcar

Europcar New Zealand’s partnership with Greenfleet has contributed to planting over 850 native trees and sequestering over 200 tonnes of carbon emissions. Rising awareness of vehicle-related emissions is leading to a growing number of people taking ... More >>

A2 Milk stock slumps 20% as margin outlook disappoints

Wednesday, 16 May 2018, 1:58 pm | BusinessDesk

May 16 (BusinessDesk) - A2 Milk Co shares shed about a fifth of their value after a trading update today disappointed investors optimistic about the milk marketing firm's outlook, dragging down production partner Synlait Milk and weighing on the ... More >>

Vector funding extends reach of Auckland Writers Festival

Wednesday, 16 May 2018, 1:49 pm | Vector Limited

Vector funding extends reach of Auckland Writers Festival to low decile schools Vector is proud to support the Auckland Writers Festival Schools Programme and extend its reach to low decile schools across Auckland. Funding from Vector has enabled students ... More >>

Electric vehicle paper starts charging conversation

Wednesday, 16 May 2018, 1:21 pm | Drive Electric

Research commissioned by Drive Electric has generated a deeper analysis of the impact widespread electric vehicle charging would have on the electricity network. More >>

One-off offer of free manuka seedlings to landowners

Wednesday, 16 May 2018, 1:14 pm | Forestry NZ

Te Uru Rakau (Forestry New Zealand) is partnering with Manuka Farming New Zealand to plant 1.8 million manuka seedlings across New Zealand. These seedlings will be provided free of charge to landowners that meet eligibility criteria. More >>

Fletcher completes $750M equity raising with sale of shares

Wednesday, 16 May 2018, 12:47 pm | BusinessDesk

May 16 (BusinessDesk) - Fletcher Building has reached its $750 million equity raising target after selling 20.2 million shares under its retail shortfall bookbuild, at a premium price to the entitlement offer but a discount to the trading price of the ... More >>

Rabobank commentary - GDT Event 15 May 2018

Wednesday, 16 May 2018, 12:44 pm | Rabobank

Rabobank dairy analyst Emma Higgins on the latest GDT Event – The final GDT Event for the 2017/18 production season ended with the GDT Price Index up almost 2% to USD 3,637/tonne. SMP cracked the USD 2K mark (USD 2,047/tonne) and WMP results were ... More >>