Scoop NZ: Business (129)

MARKET CLOSE: NZ shares rise as Restaurant Brands, A2 gain

Oct. 17 - New Zealand shares rose, led by Restaurant Brands and A2 Milk while Xero and Scales Corp fell, with investors still uncertain about the make-up of the next government.

NZ dollar pares CPI gains as greenback rises

Oct. 17 - The New Zealand dollar was little changed, paring the gains it made on stronger-than-expected inflation data, as the greenback strengthened in Asian trading.

Reduced viewpoints in media merger not ComCom's concern

Oct. 17 - The Commerce Commission shouldn't have considered reduced media plurality in deciding to reject the merger of Stuff and NZME, the media companies' lawyer told the court.

NZ Super Fund paid 60 times more tax than Fonterra

NZ Super Fund, govt cash cow, paid 60 times more tax than Fonterra last year

Living Wage asks Selwyn Foundation to consider ethics

The Living Wage Movement Aotearoa New Zealand says that the Selwyn Foundations AGM at Holy Trinity Cathedral on Wednesday the 18th of October is the perfect opportunity for them to think about their commitment to an ethical and values based approach.

Fisher Funds says new Xero holding amounts to 3% of Kingfish

Oct. 17 - Kingfish, a listed investment fund that targets New Zealand shares, has taken an $8 million position in Xero shares after flagging its first bet on the unprofitable accounting software company.

Infratil, flush with funds, won't offer reinvestment option

Oct. 17 - Infratil, which is one of the biggest issuers of NZDX-listed debt securities, says it won't offer holders of its November 2017 bonds an option to reinvest because it has ample funds and untapped bank facilities.

Family farm trusts at risk

Family farm trusts at risk Agri family businesses that have a trust structure need to make sure they’re not burnt by the changes in legislation that governs trusts. Crowe Horwath Business Advisory Partner Denis Hames says neglecting your family trust ...

E tū bitterly disappointed over demise of Kiwi-made Cadbury

MEDIA RELEASE E tū bitterly disappointed over demise of Kiwi-made Cadbury The union, E tū is highly critical of the decision by Mondelez International to move all production of Cadbury products from its Dunedin production plant to Australia.

Summit improves tech connection with China

High-profile Chinese investors and Kiwi tech companies came together this week to work out how to better promote, connect and engage the New Zealand tech sector with the China market. The Hi-Tech Summit, organised by the China Chamber of Commerce ...

housing-related costs push up inflation

NZ frozen beef exports to Japan slump after tariff hike

Oct. 17 - New Zealand exports of frozen beef to Japan have plummeted since the country lifted tariff rates, according to AgriHQ.

Mondelez pulls pin on local manufacturer for Kiwi candy

Oct. 17 - Mondelez International has given up on finding a local manufacturer for its New Zealand suite of candy and will ship production to Australia, having already decided to close the Dunedin Cadbury factory.

ASX-listed HRL Holdings expands Kiwi footprint

Oct. 17 - ASX-listed HRL Holdings will expand its reach on this side of the Tasman after agreeing to buy local food testing firm Analytica Laboratories for as much as $30 million.

Billion-dollar industry thanks cleaners

Mopping up crime scenes, polishing the floors of schools and keeping public toilets fresh are just some of the tasks cleaners will be acknowledged for on Thank Your Cleaner Day tomorrow.

Isentia Appoints New Zealand Country Manager

Leading data intelligence business, Isentia, has today announced the appointment of a new Country Manager for New Zealand, Russ Horell.

Over 100 Jobs at Risk in BNZ restructure - FIRST Union

Over 100 jobs at risk in massive BNZ restructure - FIRST union More than 100 jobs are at risk at BNZ as the banking giant enters a 'massive' restructure in its branch network. FIRST Union, the union representing workers at BNZ and the country’s ...

HiFX Morning Update, October 17, 2017

The NZDUSD opens at 0.7169 this morning. The NZD has edged higher against the majority of its trading partners with this morning’s Q3 inflation report set to signal direction from here. This morning’s Q3 Consumer Price Index is ...

Judge gets Facebook news primer in media merger hearing

Oct. 16 - Justice Robert Dobson and his self-confessed "Luddite ways" was shown how news can be shared via social media during day one of Stuff and NZME's appeal against the Commerce Commission's rejection of their planned merger.

MARKET CLOSE: NZ shares mixed as blue-chips buoy market

MARKET CLOSE: NZ shares mixed as blue-chips NZ Refining, Fletcher, Spark buoy broader market

NZ dollar holds gains against greenback but capped

Oct. 16 - The New Zealand dollar held onto its gains against the greenback but political uncertainty will likely keep it capped with investors awaiting an announcement on the country's next government.

Bank of China NZ undeterred after offering 'premium' return

Oct. 16 - Bank of China New Zealand raised $150 million in its first NZ dollar bond sale and says having to offer a higher return than similarly rated local corporates hasn't put it off the local debt market.

Fonterra trims 2018 milk collection forecast on wet August

Oct. 16 - Fonterra Cooperative Group trimmed its milk collection outlook for the 2018 season after a wet August and September sapped production, especially in the North Island.

MBIE launches new investigations on Chinese steel dumping

Oct. 16 - The Ministry of Business, Innovation and Employment is taking a new look at claims Chinese steel imports are being dumped in the local market after Australian-owned New Zealand Steel complained it's being unfairly undercut by Asian ...

Fisher Funds' Kingfish a late believer in Xero

Oct. 16 - Kingfish, a listed investment fund that targets New Zealand shares, has added Xero to its holdings because it is more confident in the unprofitable accounting software company's earnings in its biggest market, Australasia.

IBM Announces Blockchain Solution to Speed Global Paymments

TORONTO – 16 Oct 2017 : SIBOS: IBM today announced a new blockchain banking solution that will help financial institutions address the processes of universal cross-border payments, designed to reduce the settlement time and lower the cost ...

Sir John Key opens new UC Trading Room

Former Prime Minister and University of Canterbury alumnus, Rt Hon Sir John Key was on campus today to officially open the new Trading Room in the UC Business School.

Fletcher to address NZSA's performance concerns

Fletcher to address NZSA's performance concerns as lobby drops call to spill board, Norris says

ComCom went outside its role in rejecting StuffMe merger

Oct. 16 - The Commerce Commission overreached its statutory mandate when it rejected a possible merger between New Zealand's two largest print media companies, Wellington's High Court has heard.

Retiring commissioner’s practical approach appreciated

The practical, clear-headed and science-based approach of the outgoing Parliamentary Commissioner for the Environment is one that Federated Farmers commends to her successor.

Taking charge of our money

The Association of Blind Citizens of New Zealand , congratulates the Reserve Bank of New Zealand for providing banknote gauges that will support people who are blind and vision impaired, to independently identify with confidence, the ...

Real estate boss: Financing affecting house sales

'The real estate industry is seeing an increasing number of deals falling over simply because of finance,' says Geoff Barnett, National Manager of Century 21 New Zealand.

Newly merged financial advice firm hits the market

Independent financial advisory firms Bradley Nuttall and iQ2 Private Wealth merge into Cambridge Partners Limited.

World Week Ahead: Yellen sees higher inflation

Oct. 16 - Investors will eye any fresh takes on the latest US inflation data from Federal Reserve officials speaking this week as well as a slew of US quarterly corporate earnings including from Goldman Sachs.

Better understanding for better business

Aotea Gifts is one of a growing number of New Zealand businesses that knows the value of embracing Chinese language and culture.

Property Prices on Hold as Election Drags On

As the country holds out for an election outcome, so too is the New Zealand property market with the national average asking price in a holding pattern, according to the latest Trade Me Property Price Index.

Grass-fed steak with a side of environmental enhancement?

Consumers are to be asked what attributes in beef and lamb are important to them in their purchase decisions in a research project led by Beef + Lamb New Zealand, Greenlea Premier Meats and Lincoln University’s Agribusiness and Economics Research ...

Auckland Unveils Latest Screen Production Gem

Auckland region adds to a growing list of world-class screen production facilities with the most state-of-the-art post production facility in the Southern Hemisphere.

Meet the Ford Engineer Who Wants to Tear Your Car Apart

Meet the Ford Engineer Who Wants to Tear Your Car Apart AUCKLAND, New Zealand, 16 October 2017 – Modern cars are beautiful looking things, but there are people in this world who would like to tear them to pieces. People like Rob Carstairs, an aerodynamicist ...

HiFX Morning Update, October 16, 2017

The NZDUSD opens at 0.7175 this morning. We open this morning with the USD on the back foot after Friday’s US inflation data fell short of economists’ projections cutting the odds of a December rate hike. Consumer prices in the U.S. ...

Tiny Houses Attract Massive Attention This Weekend

Tiny Houses Attract Massive Attention This Weekend in Christchurch High quality ‘tiny houses’ seem to be piquing the interest of more Cantabrians as evidenced by hundreds of people looking through two Christchurch built examples this weekend ...

Significant Growth Leads to Continued Investment in Cardrona

The 2017 winter season has been another record-breaking year for Cardrona Alpine Resort, leading to continued investment in the resort in a multi-year development project.

Q+A: ANZ Economist Sharon Zollner

The global financial market is 'starting to smell a bit like 2007' says senior economist A stark warning came from ANZ Economist Sharon Zollner on TVNZ’s Q+A programme this morning. 'I think it’s fair to say that some things are starting ...

2017 New Zealand Extra Virgin Olive Oil Awards

Winners in New Zealand’s most prestigious competition for olive oil were announced last night at a formal dinner held in Wellington. The New Zealand Extra Virgin Olive Awards are run by Olives New Zealand, the national organisation for olive oil growers.

The Nation: Lisa Owen interviews Anthony Healy

On The Nation: Lisa Owen interviews Anthony Healy Lisa Owen: Capital gains tax has been a political hot potato in recent years. Parties have toyed with the idea, but none have followed through, particularly when it comes to taxing the family home. ...

New Website, Myadvice.Legal, Set to Launch

New Website, Myadvice.Legal, Set to Launch Today, a new online market place, MyAdvice.Legal, publicly launched in New Zealand. The platform is intended to assist all types of client from not for profits and major corporates, through to mums and dads to access ...

Argentina seeks to boost air connections to China through NZ

Oct. 13 - Argentina's new, reformist government is seeking to accelerate the growth of Asian tourism to South America via New Zealand and Australia in what its visiting deputy tourism minister, Ramiro Alem, describes as a "look south" ...

MARKET CLOSE: NZ shares up, Trustpower and Infratil rise

MARKET CLOSE: NZ shares up, Trustpower and Infratil rise while Fletcher Building gave back gains. By Sophie Boot

NZ dollar heads for 0.7% weekly gain

Oct. 13 - The New Zealand dollar is heading for a 0.7 percent weekly gain, having gone sideways in the local trading session as markets await US inflation data.

Jade Software appoints Charlotte Walshe as new CEO

Oct. 13 - Jade Software has appointed Charlotte Walshe as its new chief executive, replacing Jason Court, who held the position on an interim basis after the company split into Jade Software and Jade Logistics in June.