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Latest Business Headlines [Page 4]

Draft Report on Fonterra’s Base Milk Price Calculation

Tuesday, 15 August 2017, 10:12 am | Commerce Commission

The Commerce Commission has today released its draft report on Fonterra’s base milk price calculation for the 2016/17 dairy season. More >>

Slowing Supply Growth to Impact NZ Dairy Supply Chain

Tuesday, 15 August 2017, 10:07 am | Rabobank

New Zealand dairy processors will struggle to fill existing and planned capacity in coming years as milk supply growth slows, leading to more cautious investment in capacity over the next five years, according to a new report from Rabobank. More >>

Super Fund stuff up selldown for carbon policy announcement

Tuesday, 15 August 2017, 10:02 am | New Zealand Taxpayers' Union

15 AUGUST 2017 - The Taxpayers’ Union can reveal that as part of the selldown of carbon related investments, readying the NZ Superannuation Fund for the carbon targets just announced this morning, the Fund sold nearly five million shares in ... More >>

Fonterra Dairy Duo Claim Awards at International Cheese Show

Tuesday, 15 August 2017, 10:01 am | Fonterra

Two Fonterra NZMP cheeses have scooped silver awards at the prestigious international Cheese Awards held recently at Nantwich, UK. More >>

Accountants to join fight against “dirty money”

Tuesday, 15 August 2017, 9:53 am | Chartered Accountants Australia and New Zealand

New legislation clears the way for professional financial ‘gatekeepers’, including accountants, to help stop criminals turning ‘dirty money’ into clean,” says Chartered Accountants Australia and New Zealand’s Acting Reporting Leader Zowie ... More >>

Māori Ocean Protectors Call upon Norwegian Government

Tuesday, 15 August 2017, 9:52 am | Te Ikaroa

14 AUGUST 2017 - Indigenous rights advocacy group Te Ikaroa stand with Greenpeace New Zealand in decrying the violation of campaigners' privacy by the oil industry. More >>

Tall timber stacks up in commercial terms

Tuesday, 15 August 2017, 9:50 am | Forest Industry Engineering Association

Last week, well-known property investor Sir Bob Jones announced his company’s plan to build a tall timber building in Wellington. Jones has done his homework on the advantages of wood for large commercial buildings. Australian and Canadian developers ... More >>

Golden business egg in Vietnam for Kiwi companies

Tuesday, 15 August 2017, 9:41 am | Make Lemonade

August 15, 2017 - Kiwi companies are queueing up to do business with Vietnam and other similar sized Asian countries, a leading New Zealand tech businessman says. More >>

LexisNexis Announces 2017 Legal Innovation Index Finalists

Tuesday, 15 August 2017, 9:08 am | LexisNexis

New Zealand, 14 August 2017: The finalists of the 2017 Legal Innovation Index have been announced today by LexisNexis® Pacific and Janders Dean. More >>

HiFX Morning Update, August 15 2017

Tuesday, 15 August 2017, 8:54 am | HiFX

The NZDUSD opens at 0.7295 (mid-rate) this morning. The USD has started the week on the front foot as geopolitical tension between the US and North Korea eases. Assisted by yesterday’s standout retail sales report the NZD has held up well. New Zealand ... More >>

Solid first half performance for Opus

Monday, 14 August 2017, 8:52 pm | Opus International Consultants

Media release 14 August 2017 Solid first half performance for Opus Half-Year results announced today show Opus International Consultants’ performance continues to improve. More >>

Rakon shares jump 20% on prospect of return to profitability

Monday, 14 August 2017, 8:49 pm | BusinessDesk

Aug. 14 (BusinessDesk) - Rakon shares jumped 20 percent after the company said it anticipates a return to profit in the current financial year as new space and defence customers and recovering demand among telecommunications company's bolsters the components ... More >>

MARKET CLOSE: NZ shares rise, led by Contact

Monday, 14 August 2017, 8:46 pm | BusinessDesk

MARKET CLOSE: NZ shares rise, led by Contact on earnings outlook; Heartland, By Sophie Boot More >>

Opus International lifts first-half profit

Monday, 14 August 2017, 8:45 pm | BusinessDesk

Aug. 14 (BusinessDesk) - Opus International Consultants, whose shares soared today on a takeover offer at an 87 percent premium, posted an improved first-half profit as a gain in Australia and New Zealand made up for losses in other regions. More >>

NZ dollar barely budges as all eyes focus on North Korea

Monday, 14 August 2017, 8:43 pm | BusinessDesk

Aug. 14 (BusinessDesk) - The New Zealand dollar barely budged from where it started the day after a brief lift following strong retail sales was short-lived as attention remained focused on events surrounding North Korea. More >>

Heartland's digital focus gaining traction

Monday, 14 August 2017, 8:42 pm | BusinessDesk

Aug. 14 (BusinessDesk) - Heartland Bank's recent efforts to expand its digital offering is winning over small business owners, who have been keen on the lender's fast turnaround for small loans. More >>

CORRECT: Payday beckons for ACC fund managers

Monday, 14 August 2017, 8:40 pm | BusinessDesk

Aug. 14 (BusinessDesk) - Fund managers employed by the state-owned Accident Compensation Corp are set for a payday after WSP Global Inc, a Canadian listed consultancy firm, offered an 87 percent premium for Opus International Consultants. More >>

UPDATE: WSP says Opus takeover 'transformative' for region

Monday, 14 August 2017, 8:38 pm | BusinessDesk

Aug. 14 (BusinessDesk) - WSP Global Inc, a Canadian listed consultancy firm, has made a "very full" offer of more than 10 times 2016 earnings for Opus International Consultants, in what it calls "a very transformative acquisition for the region". More >>

Contact looks to tighten market after 'crappy quarter'

Monday, 14 August 2017, 8:32 pm | BusinessDesk

Aug. 14 (BusinessDesk) - Contact Energy is looking to tighten electricity supply, saying it will seek better prices for roughly half a terawatt hour of its total annual generation either from commercial and industrial customers, wholesale spot market ... More >>

Opus: Receipt of takeover notice

Monday, 14 August 2017, 8:26 pm | Opus International Consultants

Receipt of takeover notice Opus International Consultants Limited (Opus) today received a takeover notice under the Takeovers Code from WSP NZ Acquisition Limited (WSP), a wholly-owned subsidiary of WSP Global Inc. Key terms WSP’s notice states that ... More >>

Water Bottlers Will Close If Labour Policy Implemented

Monday, 14 August 2017, 8:10 pm | Joint Press Release

Water Bottlers Will Close If Labour Policy Implemented Why not charge for the litres consented, rather than the amount taken Charging water exporters a per litre levy will penalise a small, struggling New Zealand industry and lead to company closures ... More >>

NZ innovation makes mastitis treatment easier

Monday, 14 August 2017, 4:54 pm | Bayer NZ

Monday, 14th August 2017 – A new ready to use antibiotic formulation for treating mastitis that took seven years to develop, register and launch is now available for New Zealand dairy farmers. More >>

Commerce Commission warns telcos over Fair Trading breaches

Monday, 14 August 2017, 4:53 pm | BusinessDesk

Aug. 14 (BusinessDesk) - The Commerce Commission has sent warning letters to four telecommunications companies about specific conduct it considers breached the Fair Trading Act and said it is continuing to investigate further potential issues in ... More >>

New partnership with market-leading e-commerce company

Monday, 14 August 2017, 4:20 pm | Auckland International Airport

New partnership with market-leading omni-channel e-commerce company Auckland Airport has today announced a new partnership with AOE, a leading global technology service provider, to create a ‘multi-retailer mall’ which enables international travellers ... More >>

UPDATE: Freightways shares fall 2%

Monday, 14 August 2017, 4:12 pm | BusinessDesk

Aug. 14 (BusinessDesk) - Freightways shares fell 2 percent on concerns of mounting pressure on earnings margins for the courier and information management company, despite a lift in annual profit on the strength of volume growth and margin in the ... More >>

HK-listed Orient Victory Travel pays $9M for Silverdale site

Monday, 14 August 2017, 4:03 pm | BusinessDesk

Aug. 14 (BusinessDesk) - A Hong Kong-listed travel company has bought three parcels of land in Auckland for $9 million, where it plans to build accommodation units for Chinese tourists and to take advantage of the "critical housing shortage" in New ... More >>

Payday beckons for ACC fund managers

Monday, 14 August 2017, 3:45 pm | BusinessDesk

Aug. 14 (BusinessDesk) - Fund managers employed by the state-owned Accident Compensation Corp are set for a payday after WSP Global Inc, a Canadian listed consultancy firm, offered an 87 percent premium for Opus International Consultants. More >>

Gold-class for the Christchurch Tramway

Monday, 14 August 2017, 3:38 pm | Christchurch Attractions

The more than 10,000 working hours that went into getting Christchurch’s tramway up and running following the 2011 earthquake has paid off significantly, with the service receiving a gold business sustainability award from Tourism New Zealand. ... More >>

JB Hi-Fi working on strategy for NZ business

Monday, 14 August 2017, 3:13 pm | BusinessDesk

Aug. 14 (BusinessDesk) - JB Hi-Fi's management is finalising a performance strategy for its New Zealand discount electronics chain after it turned to a loss as sales and margins dropped in the latest financial year. More >>

NZ services sector slows in July as wintry weather bites

Monday, 14 August 2017, 2:48 pm | BusinessDesk

Aug. 14 (BusinessDesk) - New Zealand's services sector, which accounts for about two-thirds of the economy, weakened in July as wet and wintry conditions hampered business activity. More >>

NZ retail sales rise in June quarter on Lions tour

Monday, 14 August 2017, 2:46 pm | BusinessDesk

Aug. 14 (BusinessDesk) - New Zealand retail sales rose in the June quarter, benefitting from increased consumer spending during the World Masters Games and the Lions rugby tour. More >>

Truck shop sentenced for “incomprehensible” contracts

Monday, 14 August 2017, 1:57 pm | Commerce Commission

Auckland truck shop Zee Shop Limited (Zee Shop) has been fined $108,000 for providing contracts which included “incomprehensible” clauses. More >>

Freightways lifts annual profit

Monday, 14 August 2017, 1:42 pm | BusinessDesk

Aug. 14 (BusinessDesk) - Courier and information management company Freightways lifted annual profit on the strength of volume growth and margin in the express package and business mail division and said it's targeting earnings growth for the current ... More >>

Karma Cola Launches Cherry Cola

Monday, 14 August 2017, 1:25 pm | Karma Cola

The Roxy Cinema and Karma Cola have mixed pop and pop culture by dropping a cherry bomb, and baby it’s a firework. Inspired by Hollywood romance and Americana, Roxy Cherry Cola is bringing sexy back to moviegoers’ taste buds this August. More >>

WSP bids $1.78 a share for Opus International

Monday, 14 August 2017, 1:04 pm | BusinessDesk

Aug. 14 (BusinessDesk) - WSP Global Inc, a Canadian listed consultancy firm, has offered an 87 percent premium for Opus International Consultants, winning support from its biggest shareholder. More >>

Heartland lifts annual profit 12% on expanding loan book

Monday, 14 August 2017, 1:02 pm | BusinessDesk

Aug. 14 (BusinessDesk) - Heartland Bank boosted annual profit 12 percent as the country's only locally-owned and listed bank managed to maintain relatively wide margins while expanding its loan book across all three of its main target sectors. More >>

Four telcos warned by Commission

Monday, 14 August 2017, 12:54 pm | Commerce Commission

The Commerce Commission has sent warning letters to four telecommunication companies about specific conduct that the Commission considers breached the Fair Trading Act. More >>

Heartland Posts Full Year Profit of $60.8m

Monday, 14 August 2017, 12:54 pm | Heartland Bank

14 August 2017 - Heartland Bank Limited ( Heartland ) (NZX: HBL) achieved a net profit after tax ( NPAT ) of $60.8m for the full year ended 30 June 2017 ( FY2017 ), an increase of 12% from the previous financial year ended 30 June 2016 ( FY2016 ). The ... More >>

New Appointment Release: Sarah Curtis

Monday, 14 August 2017, 12:20 pm | Mortgage Express

Mortgage Express is pleased to announce the appointment of Sarah Curtis, mortgage adviser based in Kerikeri, Northland. More >>

US approval for 'grass-fed' infant formula will take longer

Monday, 14 August 2017, 12:20 pm | BusinessDesk

Aug. 14 (BusinessDesk) - Synlait Milk, the NZX-listed milk processor, said regulatory approval for its 'grass-fed' infant formula in the US is taking longer than expected. More >>

Saving For Your Funeral is Important to Remember

Monday, 14 August 2017, 12:14 pm | Funeral Directors Assn of NZ

14 August 2017 - Less than 5 per cent of New Zealanders plan and pre-pay their funerals and it’s a statistic we need to change, says the Funeral Directors Association of New Zealand (FDANZ). More >>

Contact Energy takes 10% hit to underlying earnings

Monday, 14 August 2017, 12:10 pm | BusinessDesk

Aug. 14 (BusinessDesk) - Contact Energy reported a 10 percent fall in underlying earnings to $141 million for the year to June 30, although statutory net profit showed a $216 million turnaround for the year mainly because the costs of closing its Otahuhu-B ... More >>

Retail Trading Figures Show an 18.8% Increase on Last Year

Monday, 14 August 2017, 11:45 am | Hastings City Business Association

Latest Quarterly Retail Trading Figures for Hastings Show an 18.8% Increase on Last Year More >>

NZ dollar gains after weak US inflation data adds to doubts

Monday, 14 August 2017, 11:38 am | BusinessDesk

Aug. 14 (BusinessDesk) - The New Zealand dollar gained after weaker-than-expected US inflation data added to doubts the Federal Reserve will hike interest rates for the third time this year. More >>

Video Series for Money Week 2017

Monday, 14 August 2017, 11:25 am | Reserve Bank

14 August 2017 - To support Money Week 2017, the Reserve Bank and the Commission for Financial Capability have collaborated in a series of videos to encourage people to better manage their debt and talk more freely about their finances. More >>

HiFX Data Update - NZ Q2 Retail Sales Release

Monday, 14 August 2017, 11:21 am | HiFX

Actual Q2 Retail Sales rose 5.4% compared with same quarter last year (4.6% forecast). I expect the Lion’s supporter’s spending would have impacted these figures. More >>

Daniel Debono Appointed Wanaka Airport Operations Manager

Monday, 14 August 2017, 11:16 am | Wanaka Airport

Experienced airport and aviation professional Daniel Debono will join the Wanaka Airport team early in 2018 as Operations Manager, following an Australasia-wide recruitment process for the role. More >>

Get ready to volunteer: BNZ gears up for Closed for Good

Monday, 14 August 2017, 11:10 am | BNZ

On Wednesday 23 August, all BNZ stores will once again be Closed for Good as more than 3,000 staff head out into their local communities to work on more than 550 projects. More >>

Aurecon Launches ‘Shared Care’ Parental Leave Scheme

Monday, 14 August 2017, 11:05 am | Aurecon

While momentum builds in the male-dominated property and construction sectors to improve gender equality, Aurecon’s CEO Giam Swiegers , a member of the STEM Male Champions of Change group, believes the pace of change remains too slow. More >>

Wellington Drive Announces Exclusive Agreement

Monday, 14 August 2017, 10:43 am | Wellington Drive Technologies

Wellington Drive Announces Exclusive Agreement with Alaska Refrigeration for the Sales And Distribution of Its SCS Connect System in Vietnam. More >>

Full year result delivers increased dividend

Monday, 14 August 2017, 10:30 am | Freightways

Following a year that included the North Canterbury earthquake, the completion of a number of significant capacity-related projects and strong volume growth, the Directors of Freightways are pleased to announce an increased dividend for the 2017 year and ... More >>

CERT report captures just the tip of the iceberg

Monday, 14 August 2017, 10:22 am | Make Lemonade

Kiwis need to keep talking about cyber security as criminals are using technologies to find new ways to undertake crime, NZTech chief executive Graeme Muller says. More >>

Vic Air on Cloud Nine with EBS & Microsoft Dynamics NAV

Monday, 14 August 2017, 10:10 am | Vic Air

Melbourne-based air conditioning company Vic Air Supplies has migrated its business systems to the cloud after replacing its old accounting system with Microsoft Dynamics NAV. More >>

Contact Energy Reports Resilient Cash Flow

Monday, 14 August 2017, 10:06 am | Contact Energy

• Strong financial discipline, with capital expenditure down by 20% and an $11m reduction in ongoing other operating costs More >>

World Week Ahead: Watching geopolitics, Fed minutes

Monday, 14 August 2017, 9:49 am | BusinessDesk

Aug. 14 (BusinessDesk) - As China seeks to defuse increasing tension between the US and North Korea, investors will eye minutes from the latest US Federal Reserve meeting as well as corporate earnings including from Target and Wal-Mart. More >>

Introducing Kiwi Holiday Parks and Accommodation

Monday, 14 August 2017, 9:30 am | Kiwi Holiday Parks

New Zealand’s favourite holiday park group – Kiwi Holiday Parks – is getting a new name to reflect the evolution of their parks and the wider range of accommodation types on offer: motels, cabins and campsites. Meet Kiwi Holiday Parks and Accommodation ... More >>

Money Week: What does debt do for you?

Monday, 14 August 2017, 9:19 am | NZ Bankers' Association

Debt can finance personal, household and business needs and aspirations. That’s the New Zealand Bankers’ Association’s response to Money Week’s big question: what does debt do for you? “We often need to borrow money to buy our own home or ... More >>

The 'interest-free' ghost haunting students

Monday, 14 August 2017, 9:09 am | Credit Simple

More than 30 per cent of tertiary students with 'interest-free' overdrafts are paying interest Research shows: • 31 per cent of tertiary students make use of interest-free overdrafts • 49 per cent of tertiary students with interest-free overdrafts do ... More >>

Lane Neave LawTech Bootcamp provides innovative concepts

Monday, 14 August 2017, 8:41 am | Lane Neave

The groundbreaking LawTech Bootcamp partnership between some of University of Canterbury’s brightest students and top New Zealand law firm Lane Neave has produced some remarkable new concepts. More >>

HiFX Morning Update, August 14 2017

Monday, 14 August 2017, 8:23 am | HiFX

The NZDUSD opens at 0.7312 (mid-rate) this morning. The USD is lower across the board as yet again US economic data releases fell short of market expectations. Late on Friday the US Labor Department reported a 0.1% rise in the consumer price index following ... More >>