Most Read | Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Latest Business Headlines

MARKET CLOSE: NZ shares rise as Fletcher extends gain

Thursday, 23 May 2019, 8:50 pm | BusinessDesk

May 23 (BusinessDesk) - New Zealand stocks rose, led higher by Fletcher Building as the construction company extended a recent rally. Metro Performance Glass jumped 13 percent after meeting its downgraded earnings guidance. More >>

NZ dollar eases as US-China trade war, Brexit saga drag on

Thursday, 23 May 2019, 8:27 pm | BusinessDesk

May 23 (BusinessDesk) - The New Zealand dollar was slightly weaker as indications of softness in the domestic economy added to worries about the United States-China trade war and the ongoing Brexit saga. More >>

ExportNZ Bay of Plenty Awards finalists announced

Thursday, 23 May 2019, 7:07 pm | ExportNZ

Finalists in the ExportNZ Bay of Plenty Awards were announced last night after a crop of excellent entries were received across a broad range of industry sectors. More >>



OceanaGold less confident in regulatory regime

Thursday, 23 May 2019, 7:05 pm | BusinessDesk

May 23 (BusinessDesk) - OceanaGold says the surprise rejection of a land purchase for a new tailings facility has reduced its confidence in this country’s regulatory settings. More >>

INFINZ says RBNZ bank capital proposals lack analysis

Thursday, 23 May 2019, 7:04 pm | BusinessDesk

May 23 (BusinessDesk) - The Reserve Bank has provided insufficient material and analysis of its “dramatic” bank capital proposals, and they warrant “a level of scrutiny proportionate to the magnitude and breadth of its potential impacts on the wider ... More >>

Zespri operating revenue exceeds $3 billion

Thursday, 23 May 2019, 6:49 pm | Zespri

2018/19 season results: Zespri operating revenue exceeds $3 billion Zespri’s returns to growers and the industry reached new levels on the back of strong growth in both volume and value and across all fruit categories last season, with operating revenue ... More >>

Civil Aviation Improvements Must Continue

Thursday, 23 May 2019, 6:47 pm | New Zealand Airline Pilots' Association

Civil Aviation Improvements Must Continue, Not Just Following Major Accidents – Pilots’ Union Changes to the way the Civil Aviation Authority (CAA) manages safety inspections have been welcomed by the New Zealand Air Line Pilots’ Association ... More >>

AIA's new Vitality ambassadors: Ian Jones and Jess Quinn

Thursday, 23 May 2019, 6:39 pm | AIA

Rugby great Ian Jones and health and wellness advocate Jess Quinn to help New Zealanders live healthier, longer, better lives AUCKLAND, 24 May 2019 Life insurer AIA is pleased to announce the appointment of Ian Jones and Jess Quinn as AIA Vitality ambassadors. ... More >>

UPDATE: Fonterra says more assets under review

Thursday, 23 May 2019, 5:45 pm | BusinessDesk

May 23 (BusinessDesk) - Fonterra Cooperative Group narrowed the range for its forecast payout to farmers this season, cut its earnings guidance and says it may sell more assets as it slims down its operations and focuses on its core business. More >>

Seequent and Murray & Co win M&A transaction of the year

Thursday, 23 May 2019, 5:12 pm | Seequent

CHRISTCHURCH, NZ, 23 May, 2019 - Seequent , a world leader in the development of 3D geological modelling and visual data science software, and New Zealand investment bank Murray & Co were named winners of the Chapman Tripp – M&A Transaction ... More >>

Spark scolded for misleading customers on price hike

Thursday, 23 May 2019, 3:53 pm | BusinessDesk

May 23 (BusinessDesk) - Spark New Zealand has been told off by the Commerce Commission for the way it hiked copper-line broadband prices last year when it didn't let customers know they could cancel their agreement. More >>

UPDATE: Metroglass' woes drag annual net profit down 69%

Thursday, 23 May 2019, 3:48 pm | BusinessDesk

May 23 (BusinessDesk) - Metro Performance Glass blamed "significant challenges" in Australia for a 69 percent plunge in annual net profit and a slide in operating earnings consistent with the firm's March downgrade. More >>

The threat to success that too many business owners ignore

Thursday, 23 May 2019, 3:14 pm | Resilience Institute

Under-the-pump business owners need to stop putting themselves at the bottom of the heap if they want a truly successful business, says Kiwi doctor Sven Hansen. “We quickly comprehend the value of impeccable maintenance and performance when ... More >>

Data Insight appoints Bruce Gordon to Advisory Board

Thursday, 23 May 2019, 3:03 pm | Data Insight

Data Insight has appointed Pushpay’s former Chairman and now CEO Bruce Gordon to its Advisory Board. More >>

E-Commerce company launches ecofriendly surfboard range

Thursday, 23 May 2019, 3:03 pm | Lone Kauri

AUCKLAND, May 22, 2019 – New Zealand-based e-commerce company Lone Kauri Road Ltd has launched the first of a range of eco-friendly wooden surfboards on its flagship online shopping store lonekauri.com. The premium quality wooden surfboards are the ... More >>

Zespri annual profit jumps 77% on higher kiwifruit sales

Thursday, 23 May 2019, 2:40 pm | BusinessDesk

May 23 (BusinessDesk) - Zespri Group says annual profit rose 77 percent as the fruit export marketer benefited from growing global sales of kiwifruit and bigger fees from the licensing of the SunGold variety. More >>

Jenkins Freshpac Systems Recognised Among Industry Elite

Thursday, 23 May 2019, 2:38 pm | Jenkins Freshpac Systems

TAURANGA, Thursday 23rd May 2019: Jenkins Freshpac Systems continue to prove they’re at the top of their game, having just won a prestigious ‘Pride in Print’ award thanks to their talented workforce and ongoing commitment to training their staff. More >>

Freightways says express package growth slowed in 2H

Thursday, 23 May 2019, 2:14 pm | BusinessDesk

May 23 (BusinessDesk) - Freightways says softer express package business growth in the second half poses some risks for the 2020 financial year. More >>

Lawyers, Accountants, Estate Agents and Suspicious Activity

Thursday, 23 May 2019, 2:00 pm | Asia Pacific AML

Suspicious activity reports (SAR’s) are a key source of information which the New Zealand Financial Intelligence Unit (FIU) use to enhance the detection of criminal offences through a transaction, a service, or series of transactions and/or services. ... More >>

Formalising health and safety processes at Eilean Donan

Thursday, 23 May 2019, 1:27 pm | WorkSafe NZ

This profile is part of a seven-part series from WorkSafe sharing the health and safety approaches taken by the grand finalists of the 2019 FMG Young Farmer of the Year competition. During the next seven weeks we will be sharing a profile and short ... More >>

BUDGET 2019: NZ debt target to be more flexible from 2022

Thursday, 23 May 2019, 1:21 pm | BusinessDesk

May 23 (BusinessDesk) - The government remains committed to reducing net debt to 20 percent of gross domestic product by 2022 but plans to shift to a target range rather than a single figure, says the finance minister. More >>

Argosy annual profit climbs 36% on revaluation gains

Thursday, 23 May 2019, 1:20 pm | BusinessDesk

May 23 (BusinessDesk) - Argosy Property lifted annual profit 36 percent as it benefited from a sharp increase in the value of its property portfolio, and paid a slightly bigger dividend than expected. More >>

Sanford earnings hit by vessel impact from crew death

Thursday, 23 May 2019, 1:15 pm | BusinessDesk

Fishing company Sanford reported an 8 percent decline in first-half operating earnings after the death of a crew member kept one of its deep water vessels in port for three months. More >>

NZ-owned banks says capital proposals will make it harder

Thursday, 23 May 2019, 1:14 pm | BusinessDesk

May 23 (BusinessDesk) - New Zealand’s smaller, locally-owned banks want the Reserve Bank to go further in leveling the competitive playing field between them and the big four Australian-owned banks. More >>

Metroglass' Australian woes drag annual net profit down 69%

Thursday, 23 May 2019, 12:46 pm | Metroglass

May 23 (BusinessDesk) - Metro Performance Glass’ annual profit plunged 69 percent and operating earnings matched March’s downgrade with the company putting the blame on “significant challenges” in Australia. More >>

Tourism delivers $11.2 billion to communities

Thursday, 23 May 2019, 12:41 pm | Tourism New Zealand

Tourism is the beating heart of New Zealand’s economy with daily spend figures reaching a record high. More >>

Don’t fall for retailers’ “out of warranty” excuses

Thursday, 23 May 2019, 12:38 pm | Consumer

Been told by a retailer it doesn’t have to fix a faulty product because the item’s “out of warranty”? Don’t believe it, says Consumer NZ. More >>

Fonterra says more assets under review as it cuts guidance

Thursday, 23 May 2019, 12:16 pm | BusinessDesk

May 23 (BusinessDesk) - Fonterra Cooperative Group narrowed the range for its forecast payout to farmers this season, cut its earnings guidance and says it may sell more assets. More >>

Active, planning role urged for new infrastructure body

Thursday, 23 May 2019, 11:22 am | BusinessDesk

May 23 (BusinessDesk) - A proposed national infrastructure commission needs to address gaps in regional planning and could play a more active role in setting standards for smaller councils to work to, lawmakers heard yesterday. More >>

NZ dollar hovers below 65 US cents

Thursday, 23 May 2019, 11:09 am | BusinessDesk

May 23 (BusinessDesk) - The New Zealand dollar remained below 65 US cents as simmering China-US trade tensions continue to weigh on sentiment. More >>

Farmers retail workers walking off shop floor

Thursday, 23 May 2019, 10:50 am | FIRST Union

Workers in Auckland at Botany, Manukau and Pukekohe are walking off the job today over Farmers’ refusal to pay the Living Wage and the company’s faulty performance pay system that keeps wages down. Staff at the Tauranga, Bay of Plenty, North Shore ... More >>

Commission warns Spark for misleading in-contract customers

Thursday, 23 May 2019, 10:47 am | Commerce Commission

Retail telecommunications provider Spark New Zealand Limited (Spark) has been warned by the Commerce Commission for likely breaching the law when it notified customers of a broadband price rise. More >>

Measuring our digital nation’s growth

Thursday, 23 May 2019, 10:22 am | Ministry of Business Innovation and Employment

A new domain plan to measure New Zealand’s ongoing evolution into a digital nation has been released by Stats NZ and the Ministry of Business, Innovation and Employment (MBIE). More >>

Michele Embling wins Hunter Campbell Diversity Award

Thursday, 23 May 2019, 10:03 am | PwC

PwC chair Michele Embling was named the 2019 winner of the Hunter Campbell Diversity and Inclusion Award at the annual INFINZ awards announced in Auckland last night. The first female chair of PwC New Zealand, Embling has been instrumental in developing ... More >>

Sanford Reports Lift in Earnings per Kilogram

Thursday, 23 May 2019, 10:02 am | Sanford Limited

New Zealand seafood company Sanford Limited (NZX: SAN) has today reported Adjusted Earnings Before Interest and Tax (EBIT) of $32.6m for the six months to 31 March 2019. This represents a decrease of 8% on the same period last year ($35.4m). The ... More >>

White Fox nicotine pouches stocked across the country

Thursday, 23 May 2019, 9:54 am | NZ Smokefree Tomorrow

With the awareness of the growing product 'White Fox', NZ Smokefree Tomorrow (NZSFT) has now got their product stocked in 100 stores nationwide. More >>

Fonterra provides strategy, milk price and earnings updates

Thursday, 23 May 2019, 9:38 am | Fonterra

• Key third-quarter financial performance numbers: o Sales volumes: 16.6 billion LME, up 4% o Revenue: $15 billion, up 1% o Gross margin: $2.2 billion, down 3% o Normalised operating expenses: $1.8 billion, down $73 million o Normalised EBIT: ... More >>

BitPrime Cryptocurrency Price Update

Thursday, 23 May 2019, 9:36 am | BitPrime

Cryptocurrency Market Market capitalisation yesterday: NZD$377,854,006,609 Market capitalisation today: NZD$377,568,539,700 Change: -0.08% More >>

Leoné Venter appointed as Marketing Manager for SOUNZ

Thursday, 23 May 2019, 9:34 am | SOUNZ

SOUNZ would like to congratulate Leoné Venter on her appointment to the newly established role of Marketing Manager at SOUNZ Centre for New Zealand Music . Leoné was SOUNZ’s Digital Marketing Coordinator prior to this appointment. This new role combines her ... More >>

Business optimism across Asia Pacific continues to decline

Thursday, 23 May 2019, 9:21 am | Grant Thornton

Latest research from Grant Thornton International reveals that business optimism continues to decline amid swirling economic uncertainty; across the Asia Pacific region, optimism took a dive in Q2 2019 dropping to 23% from 55% percent in Q2 2018. More >>

Optic Security Group picks up Axis Communications top award

Thursday, 23 May 2019, 9:17 am | Optic Security Group

Optic Security Group picks up Axis Communications top government award More >>

INFINZ awards recognize excellence in NZ finance and capital

Thursday, 23 May 2019, 9:14 am | INFINZ

The 2019 INFINZ Awards were celebrated on Wednesday 22 May at a gala black-tie dinner at The Cordis Hotel in Auckland. More than 740 guests enjoyed an evening to celebrate excellence in the financial and capital markets eco-system in New Zealand. The Awards ... More >>

The NZD opens at 0.6497

Thursday, 23 May 2019, 8:56 am | XE Morning Update

Pretty quiet last 24 hours, with the Kiwi trading in tight ranges. We do however open under 0.6500, which psychologically is not going to be nice for importers to wake up to. NZ retail sales very slightly beat expectations yesterday, but not enough ... More >>

MARKET CLOSE: NZ shares edge up; Infratil gains

Wednesday, 22 May 2019, 8:47 pm | BusinessDesk

May 22 (BusinessDesk) - New Zealand shares edged higher, with Infratil one of the most active stocks when it resumed trading after being halted for a $100 million placement last week. More >>

NZ dollar trades near 2019 low on Aussie rate outlook

Wednesday, 22 May 2019, 8:46 pm | BusinessDesk

May 22 (BusinessDesk) - The New Zealand dollar was little changed as investors bet on an Australian rate cut in June, continue to fret about the United States-China trade war and as elections for the European Parliament get underway in 28 countries. More >>

Five new vehicles achieve 5 star safety ratings

Wednesday, 22 May 2019, 8:09 pm | New Zealand Automobile Association

Five new vehicles achieve 5 star safety ratings A mix of new Japanese and European vehicles have been awarded 5 star safety ratings by ANCAP. More >>

Solid Autumn Results

Wednesday, 22 May 2019, 8:05 pm | REINZ

Data released today by the Real Estate Institute of New Zealand (REINZ) shows there were 140 more lifestyle property sales (+8.7%) for the three months ended April 2019 than for the three months ended March 2019. Overall, there were 1,752 lifestyle property ... More >>

Interesting Developments in the Marketplace

Wednesday, 22 May 2019, 8:04 pm | REINZ

Interesting Developments in the Marketplace Data released today by the Real Estate Institute of New Zealand (REINZ) shows there were 56 less farm sales (-13.4%) for the three months ended April 2019 than for the three months ended April 2018. Overall, ... More >>

Investment surge set to propel NZ tech exports

Wednesday, 22 May 2019, 8:01 pm | Technology Investment Network

Annual TIN ‘Investor’s Guide to the NZ Technology Sector’ reinforces the compelling case for international investment in Kiwi tech innovations More >>

Farmers retail receives an ‘F’ for performance from staff

Wednesday, 22 May 2019, 5:33 pm | FIRST Union

Farmers retail workers have long been subject to an unfair performance pay system and have decided it’s time to grade their employer. They agreed on an F-rating for performance over Farmers’ refusal to pay the Living Wage and the company’s ... More >>

MediaWorks breakeven stymied by radio

Wednesday, 22 May 2019, 5:31 pm | BusinessDesk

May 22 (BusinessDesk) - It’s tough being a media company. And nowhere is this more apparent than for MediaWorks Investments, home of the Three TV channel, the Edge and More radio stations, among others. More >>

George R.R. Martin is coming?

Wednesday, 22 May 2019, 5:17 pm | Air New Zealand

Air New Zealand is thrilled to have received a response from Game of Thrones author George R.R. Martin to its invite to visit New Zealand to finish off the remaining novels in the series. The airline posted a tweet on Monday in Valyrian – a language ... More >>

Loan-to-value restrictions effective but have some drawbacks

Wednesday, 22 May 2019, 4:43 pm | BusinessDesk

Loan-to-value restrictions effective but have some drawbacks - RBNZ More >>

Parliament is a workplace

Wednesday, 22 May 2019, 4:42 pm | Auckland Business Chamber

In an environment where hierarchy drives inflated egos due to status versus job title and function versus role, it is important to remember that Parliament is still just a workplace. And while it has undertaken a necessary review of its people behaviours ... More >>

Banking Ombudsman Scheme retains high levels of awareness

Wednesday, 22 May 2019, 4:34 pm | Banking Ombudsman

The Ministry of Business, Innovation and Employment has today released the results of a survey it conducts every two years to find out what New Zealanders know about their consumer rights and how to deal with consumer problems. The survey has confirmed ... More >>

NZCB’s building guarantee now providing $5 billion in cover

Wednesday, 22 May 2019, 4:06 pm | Certified Builders of New Zealand

NZCB’s building guarantee now providing $5 billion in cover to Kiwi homeowners More >>

Yili deal a timely cash injection for Westland farmers - ANZ

Wednesday, 22 May 2019, 4:00 pm | BusinessDesk

May 22 (BusinessDesk) - Westland Milk Products farmers will bank - on average - $572,000 from the sale of their shares to Inner Mongolia Yili Industrial Group if the deal goes ahead, says ANZ Bank New Zealand. More >>

Medicinal cannabis "not commercially viable yet" says AFT

Wednesday, 22 May 2019, 3:57 pm | BusinessDesk

May 22 (BusinessDesk) - AFT Pharmaceuticals’ founder and managing director Hartley Atkinson says he’s having ongoing discussions about getting involved in providing medicinal cannabis products but the current tough regulatory environment doesn’t ... More >>

Telco Industry Working To Improve Customer Satisfaction

Wednesday, 22 May 2019, 3:16 pm | NZ Telecommunications Forum - TCF

The New Zealand Consumer Survey report released today by the Ministry for Business, Innovation and Employment (MBIE) said that home-based telecommunications has the highest incidence of problems. More >>

REINZ welcomes Privacy Commission’s guidelines but ...

Wednesday, 22 May 2019, 2:33 pm | REINZ

When news of the ‘KFC test’ first broke last year, the Real Estate Institute of New Zealand (REINZ) immediately called for some consistent standards to be put in place, therefore, broadly speaking, the Institute welcome the announcement from ... More >>