Filthy London bakery is fined $290k after using a filthy racquet to mash potatoes

A filthy bakery has been fined more than $290,000 for mashing potatoes - with a tennis racquet.Doce Bakers and Sweet Mahal, which shared the same premises, had an ongoing pest problem and filthy floors and [...]

By | November 18th, 2017|Categories: Business|0 Comments

Cherry Ripe disappears from Cadbury Roses box

We all know the dreaded feeling of digging into a box of chocolates to find nothing but unwanted Cherry Ripes and empty wrappers.But Cadbury may well have solved our woes once and for all by [...]

By | November 18th, 2017|Categories: Business|0 Comments

Australian firm Lodex is looking at using an online 'score' to judge you

Young people struggling to access financial services due to a lack of a credit rating can sign up to have their entire digital lives ranked to see if they are deemed worthy of a loan.Australian [...]

By | November 18th, 2017|Categories: Business|0 Comments

The world's biggest wealth manager won't touch bitcoin

UBS Group, the world's largest wealth manager, isn't prepared to make portfolio allocations to bitcoin because of a lack of government oversight, the bank's chief investment officer said.Bitcoin has also not reached the critical... Source: [...]

By | November 18th, 2017|Categories: Business|0 Comments

Move over Christmas sweaters, famjams are here

Early in November, Kathy Woods calls a family meeting to discuss the season's pressing question: Matching Christmas pyjamas in stripes or solids?The routine began casually enough about five years ago, Woods said, but has become... [...]

By | November 18th, 2017|Categories: Business|0 Comments

Genna Elvin – The Kiwi behind a 'mini Google' in Luxembourg

At just 28, Kiwi entrepreneur Genna Elvin has already co-founded a multimillion-dollar tech company and is working with Microsoft and Google.Elvin and husband Francois Gaspard set up Tadaweb in 2010. Based in Luxembourg, the small... [...]

By | November 17th, 2017|Categories: Business|0 Comments

TVNZ falls short in complaint about report on hosts

TVNZ has lost a Press Council complaint about a Weekend Herald story revealing who would host the broadcaster's election night coverage.The story quoted sources saying Hilary Barry and Simon Dallow were set to be announced [...]

By | November 17th, 2017|Categories: Business|0 Comments

Fran O'Sullivan: Best mates don't pick fights

Jacinda Ardern's decision to pick a fight with our nearest neighbour over the Manus Island imbroglio risks inserting a thorn right back in the Aussies' paw.It's no secret that successive Australian governments have tended to [...]

By | November 17th, 2017|Categories: Business|0 Comments

Cheaper prescriptions and suncare as Aussie pharmacy chain hits NZ

New Zealanders are about to get cheaper prices for prescription drugs and many other everyday items as a big Australian pharmacy chain sets up in Auckland.Chemist Warehouse has opened its first New Zealand store in [...]

By | November 17th, 2017|Categories: Business|0 Comments

Mary Holm: Less credit card, more stuff to buy

Whenever I see an advert from a certain bank on TV, it grates with me, because while they seem to promote financial education for their clients and the public, they leave out the most important [...]

By | November 17th, 2017|Categories: Business|0 Comments

Behind the scenes at Auckland Airport's $1.8b build

At Auckland Airport, there's a lot of talk about "making your bed when you're standing on it".The airport is booming, with more than 10.5 million passengers passing through the international terminal a year, at the [...]

By | November 17th, 2017|Categories: Business|0 Comments

Mercury and Genesis lead market higher, as Air NZ slides

New Zealand shares rose, led higher by gains from Mercury New Zealand and Genesis Energy, while Xero was flat on news that its chief executive had sold 15 per cent of his stake in the [...]

By | November 17th, 2017|Categories: Business|0 Comments

NZ dollar headed for 1 per cent weekly fall as commodity prices decline

The New Zealand dollar was heading for a 1 per cent weekly decline in the face of weaker commodity prices. The kiwi dollar traded at 68.58 US cents as a 5pm in Wellington from 68.55 [...]

By | November 17th, 2017|Categories: Business|0 Comments

Auckland education company 'preyed on parents' hopes and fears' to sell products

An Auckland educational company preyed on parents' "hopes and fears" about their children's future to sell expensive tuition products, a court has heard.The Commerce Commission charged the Auckland Academy of Learning (AAL) in June... Source: [...]

By | November 17th, 2017|Categories: Business|0 Comments

Airport squeeze: working to avoid the crush

Auckland Airport and agencies are working to avoid a repeat of problems last summer when clogged roads meant passengers and airline crew sometimes missed flights.Last month, the arrival of three A380 aircraft at the same [...]

By | November 17th, 2017|Categories: Business|0 Comments

Urban sprawl and the land that keeps on giving

You don't have to be a soil scientist to see that the dirt around Pukekohe is something special.Scratch the surface and you'll discover a rich, deep volcanic soil that has supported generations of market gardeners [...]

By | November 16th, 2017|Categories: Business|0 Comments

Tegel's plan for chicken farm to create jobs in Northland

A poultry giant plans to set up a broiler chicken farm in Northland with a capacity to stock up to 1.3 million chickens and employ 28 people.Tegel Foods has applied to the Overseas Investment Office [...]

By | November 16th, 2017|Categories: Business|0 Comments

Brian Fallow: Nothing radical, we're the RBNZ

The Reserve Bank seems to expect that the review of the Reserve Bank Act will be more an exercise in aligning the legislation with its current practice, than driving any major change in the way [...]

By | November 16th, 2017|Categories: Business|0 Comments

Stock Takes: Moves to make Xero stay

Investors may call special meeting New Zealand's fund managers appear to be mobilising to put pressure on Xero to stay listed on the NZX.The accounting software company announced on Thursday last week that its shares [...]

By | November 16th, 2017|Categories: Business|0 Comments

John Drinnan: Labour mixes its signals to TVNZ

Labour is challenging TVNZ chief executive Kevin Kenrick's $141,000 pay rise, taking his compensation to $1.3 million a year.Broadcasting Minister Clare Curran was this week reported as voicing concern about "these sorts of increases"... Source: [...]

By | November 16th, 2017|Categories: Business|0 Comments

Bellanca aircraft revamp marks 88 years for Hawaiian Airlines

Hawaiian Airlines has celebrated its 88th anniversary by burying a time capsule, dedicating the airline's new maintainence and cargo facility to the man who piloted the company's maiden flight and by revamping its vintage Bellanca... [...]

By | November 16th, 2017|Categories: Business|0 Comments

Melbourne man sacked for job-hunting at work

A Melbourne man has scored a A$10,000 ($11,076) payout from his former workplace after he was sacked for using office resources to search for a new job.The man, who worked as a graphic designer at [...]

By | November 16th, 2017|Categories: Business|0 Comments

NZ dollar falls against Aussie as improving labour market stokes Australian sentiment

The New Zealand dollar fell against the Aussie dollar and the greenback after figures showed Australia's jobless rate dropped to its lowest level in more than four years.The kiwi fell to 90.24 Australian cents as [...]

By | November 16th, 2017|Categories: Business|0 Comments

Christchurch City Holdings to sell up to $150m of 5-year bonds to pay dividends

Christchurch City Holdings Ltd (CCHL), the investment arm of the city council, plans to sell as much as $150 million of five-year bonds, using the money to pay special dividends that will contribute to the [...]

By | November 16th, 2017|Categories: Business|0 Comments

Sunfed Meats taken to Commerce Commission over labelling

New Zealand's poultry industry is laying a complaint against a company selling "chicken free chicken", saying its marketing could be misleading.Sunfed Meats, a popular new start up selling a chicken substitute make from pea protein,... [...]

By | November 16th, 2017|Categories: Business|0 Comments

South Auckland to jump in value by more than 50 per cent

Auckland's southern suburbs could see the biggest rise in property values - a jump of over 50 per cent in most areas - when council unveils its 2017 property revaluation figures. Auckland Council will reveal [...]

By | November 15th, 2017|Categories: Business|0 Comments

Nest Lab's new camera lets homeowners watch break-ins – and yell at burglars

Creators of a new range of security cameras say their products will help prevent home break-ins, burglaries and fires."We've heard from lots of customers who have stopped burglaries or been able to help police identify [...]

By | November 15th, 2017|Categories: Business|0 Comments

Flight delayed after passenger refuses to use flight mode

A Qantas flight was forced to return to the gate because a passenger refused to put his tablet on flight mode as required, it has been reported.Melbourne's 3AW was told flight QF2133 from Canberra to [...]

By | November 15th, 2017|Categories: Business|0 Comments

NZ shares down on Genesis, Mainfreight falls, Xero bounces

The New Zealand benchmark index dipped back below 8,000 as Genesis Energy and Mainfreight dropped, while Xero recovered somewhat from recent selling.The S&P/NZX50 Index fell 8.06 points, or 0.1 per cent, to 7,999.94. Within the... [...]

By | November 15th, 2017|Categories: Business|0 Comments

Union slams 'grotesque' pay for bank bosses

A bank workers' union has labelled some pay packets of bank bosses in New Zealand "grotesque" after one received a 16 per cent pay package rise to over $3 million - a rate 60 times [...]

By | November 15th, 2017|Categories: Business|0 Comments

Finance Minister Grant Robertson backpedals on 'ambitious' Stuart Nash over GST

Labour's Finance Minister Grant Robertson has backpedalled on Revenue Minister Stuart Nash's promise to start requiring overseas retailers to collect GST on goods bought by New Zealanders, saying the government was still looking at... Source: [...]

By | November 15th, 2017|Categories: Business|0 Comments

NZ dollar rises against Aussie after tepid wage data across Tasman

The New Zealand dollar rose against the Aussie dollar after Australian wages accelerated by less than expected in the third quarter, despite a lift in the minimum wage.The kiwi was trading at 90.56 Australian cents [...]

By | November 15th, 2017|Categories: Business|0 Comments

Amazon Down Under: What it means for NZ businesses and market

Amazon sees New Zealand and Australia as one big market and is tipped to be just days away from launching operations across the Tasman."Amazon views Australia and New Zealand as the one market," says e-commerce [...]

By | November 15th, 2017|Categories: Business|0 Comments

ASB economists: Next year looks good for pay rises

Next year could be a good one for getting a pay rise, according to ASB's latest quarterly economic forecasts.ASB economists have lifted their forecasts for wage growth in the wake of the election, although the [...]

By | November 14th, 2017|Categories: Business|0 Comments

Pohutukawa treehouse with island views to go under the hammer

Overlooking the Hauraki Gulf, nestled among the trees, is a small house with a design that pays homage to New Zealand's own Christmas tree. The picturesque, hillside property with views out to Kawau Island and [...]

By | November 14th, 2017|Categories: Business|0 Comments

Small and medium businesses lacking adequate support, industry report reveals

New Zealand's small and medium-sized companies are lacking the support they need to grow, according to a survey of 700 business owners.Not-for-profit organisation Business Mentors is calling for more to be done to bolster the [...]

By | November 14th, 2017|Categories: Business|0 Comments

Tesla is a 'hotbed for racist behaviour', black workers say in lawsuit

Tesla Inc.'s production floor is a "hotbed for racist behaviour," more than 100 African-American employees claimed in a lawsuit in which they alleged black workers at the electric carmaker suffer severe and pervasive harassment.The... Source: [...]

By | November 14th, 2017|Categories: Business|0 Comments

Juha Saarinen: How to keep hands-free cars on the road

Autonomous cars need close guidance and the SBAS technology aims to do that.Self-driving vehicles are the future, everyone agrees, and clever sensor and camera technologies are being developed to stop them from crashing into each... [...]

By | November 14th, 2017|Categories: Business|0 Comments

NZ dollar falls vs Aussie as Australian business conditions hit record high

The New Zealand dollar fell versus the Aussie after a bank survey showed Australian business conditions jumped to a record high last month and amid talk that a $2.2 billion option on the cross rate [...]

By | November 14th, 2017|Categories: Business|0 Comments

NZ shares gain as Z and Precinct rise; Tower hits record low

New Zealand shares rose, led higher by Z Energy on lingering optimism over the transport fuels company's outlook and Precinct Properties New Zealand which is tapping the listed debt market. Tower hit a record low.The [...]

By | November 14th, 2017|Categories: Business|0 Comments

Political Roundup: The Hobbit law and the power of big business

Like any sector in society, those who own and operate businesses have a vested interest in influencing governments to make rules that favour their operations. And not only is the power of business extraordinarily strong, [...]

By | November 14th, 2017|Categories: Business|0 Comments

Bill Gates invests $115 million to build 'smart city' in Arizona

A real estate investment firm owned by Microsoft co-founder Bill Gates has bought a giant plot of land in Arizona for $115 million to be developed into a "smart city".Arizona-based Belmont Partners, one of Gates' [...]

By | November 14th, 2017|Categories: Business|0 Comments

Tower shares at record low on concern new capital may be eroded by ongoing quake claims

Tower shares fell to a record low as investors weigh up whether the $70.8 million of new capital they're being asked to provide will provide enough of a buffer against lingering Canterbury earthquake claims that [...]

By | November 14th, 2017|Categories: Business|0 Comments

Kiwi retailers warned to get ready for Aussie GST plan

New Zealand businesses are being warned to get ready to charge GST on all exports as Australia gears up to change its goods and services legislation.Australia has updated its GST legislation on low-value goods, meaning [...]

By | November 13th, 2017|Categories: Business|0 Comments

New tourism minister faces booming industry worried about taxes and facilities

New Tourism Minister Kelvin Davis will tomorrow front up to a booming industry worried about a looming new $25 border charge and changes to immigration which could aggravate labour shortages.The sector is also keen to [...]

By | November 13th, 2017|Categories: Business|0 Comments

Property flipping couple lose in case after $1.7m arrears ran up

A couple who ran up tax debts of over $1.7m on dozens of property sales have failed in their bid to have an Inland Revenue decision and a court ruling overturned.The Court of Appeal has [...]

By | November 13th, 2017|Categories: Business|0 Comments

A2 Milk leads sharemarket higher

New Zealand shares were mixed, with A2 Milk rising on a positive presentation to investors while Xero and SkyCity Entertainment Group fell.The S&P/NZX 50 Index rose 2 points, or 0.025 per cent, to 7976.43. Within [...]

By | November 13th, 2017|Categories: Business|0 Comments

Tower in trading halt pending capital raise

Tower shares have been halted ahead of tomorrow's annual earnings announcement, where the general insurer will unveil details to raise new capital. The Auckland-based company last week said it planned to raise new capital when [...]

By | November 13th, 2017|Categories: Business|0 Comments

Greens will not support revised TPP trade deal

The Green Party will vote against legislation to bring the revised Trans-Pacific Partnership into effect despite PM Jacinda Ardern's assurance it was "a damned sight better" than the original.That will leave Labour reliant on the... [...]

By | November 13th, 2017|Categories: Business|0 Comments

Orcon to close Manila call centre, re-establish in New Zealand

Orcon is closing its Manila centre to re-establish it on Auckland's North Shore.The broadband provider said the move, which will create 60 new jobs, is happening because customers prefer dealing with a New Zealand based [...]

By | November 12th, 2017|Categories: Business|0 Comments

Mercedes and Nasa help Emirates make latest luxury Boeing 777 suites

Emirates has tonight unveiled completely refreshed interiors for its Boeing 777 aircraft, including it new first-class private suites it says were inspired by Mercedes Benz and technology from Nasa. The leather seat reclines into... Source: [...]

By | November 12th, 2017|Categories: Business|0 Comments

Christopher Niesche: Rupert Murdoch's grip is beginning to slip

Rupert Murdoch's six decade long iron grip on his media empire appears to be slipping.The 86 year-old was famous for surprising managers from far-flung outposts of his companies by questioning then closely about a line [...]

By | November 12th, 2017|Categories: Business|0 Comments

Export industries welcome the re-branded TPP

The New Zealand Business Forum and the red meat industry have joined in congratulating Prime Minister Jacinda Ardern's re-branded TPP agreement.Ardern and Trade Minister David Parker negotiated the new deal at the Apec Leaders Summit... [...]

By | November 12th, 2017|Categories: Business|0 Comments

Luxury travel's hot, handbags are not – how New Zealand's right on trend

A third of high net worth travellers like New Zealand so much they are returning within five years as the world's wealthy ditch luxury items like handbags for travel experiences.A new report on the market [...]

By | November 12th, 2017|Categories: Business|0 Comments

PwC Herald Talks: A holistic approach to the sharing economy

The sharing economy isn't just about commercial gain - it's about meaningful relationships, says Nick Shewring, co-founder of coworking operator BizDojo."Everybody's aware of Uber and Airbnb and how they've transformed public transport... Source: NZ Herald [...]

By | November 12th, 2017|Categories: Business|0 Comments

Rod Drury: Why Xero is leaving the NZX

Xero's stock exchange listing in 2007 created a platform for our early success and the ability to deliver on our strategy so far to build a significant global business from New Zealand.We feel strongly the [...]

By | November 12th, 2017|Categories: Business|0 Comments

Herne Bay mansion goes in month's $45m real estate sell-down

Rich-listers Geoff and Justine Ross have sold their multi-million dollar Auckland mansion.Described by Justine Ross prior to the sale as "shabby chic with modernist undertones", the Herne Bay home once was owned by the Sultan [...]

By | November 11th, 2017|Categories: Business|0 Comments

Young Kiwis create world's first portable espresso machine

A young Auckland couple have developed what they say is the world's "truly portable" espresso machine.Brianna Ellin, 18, and 20-year-old Josh Mittendorff spent the past year working with a product designer on the PortaPresso - [...]

By | November 11th, 2017|Categories: Business|0 Comments

Liam Dann: Beware more pain at the pump

Petrol prices are on the rise again. Some parts of the country have seen pump prices rise three times in the past week, prompting complaints from the Automobile Association that consumers are being ripped off.I [...]

By | November 11th, 2017|Categories: Business|0 Comments

Christmas goodies fly off shelves – in October

Christmas comes but once a year, but festive season goodies are bound by no such time limits.One of New Zealand's leading supermarket chains has shared data about Kiwis' Christmas shopping habits, and they would have [...]

By | November 11th, 2017|Categories: Business|0 Comments

Diana Clement: How to save on your food bill

I would rather swim with jellyfish than waste food.According to a Rabobank report, Kiwis throw away a staggering $1.8 billion worth of food each year. This is very bad for our wallets.I have developed some [...]

By | November 11th, 2017|Categories: Business|0 Comments

Man thrown off Costa cruise liner in Indian Ocean

A French passenger was thrown off a luxury cruise liner in the Indian Ocean for staging a "mutiny" after the captain cancelled two island stops and gave appalled customers €150 (NZ$252) to spend on board [...]

By | November 11th, 2017|Categories: Business|0 Comments

Dutch 'bitcoin family' sells everything, moves to campsite to wait for the cryptocurrency boom

A Dutch father of three who sold all of his family's worldly possessions to invest in bitcoin says the inspiration partly came on a trip through Asia and Australia.Didi Taihuttu, who made headlines around the [...]

By | November 11th, 2017|Categories: Business|0 Comments

My biggest investing mistake: fund managers tell all

All investors, no matter how good, make mistakes. They can range from buying a stock for the wrong reasons, to reacting to short-term news and selling a company too soon.Learning from an error and not [...]

By | November 11th, 2017|Categories: Business|0 Comments

Lamborghini unveils a self-healing, electric supercar

The next generation of Lamborghinis could act as their own super-powered batteries and be able to repair themselves.Automobili Lamborghini Spa unveiled its Terzo Millennio ("third millennium") concept car at the EmTech conference... Source: NZ Herald [...]

By | November 11th, 2017|Categories: Business|0 Comments

Sensitive girls should be taught 'banter' at school to be workplace-ready: headmistress

Sensitive girls should be taught "banter" at school to toughen them up for the world of work, the headmistress of a leading school told the Daily Telegraph . Young women need to learn how to [...]

By | November 11th, 2017|Categories: Business|0 Comments

Fran O'Sullivan: No TPP glory for Trump

This could have been Donald Trump's finest hour (at least when it comes to leadership and relationship building in the Asia-Pacific).On his maiden trip to Asia, the US President should have been heralding the advent [...]

By | November 10th, 2017|Categories: Business|0 Comments

Brian Gaynor: Xero sends a message to the market

Xero's proposed NZX delisting is a huge blow to the domestic sharemarket. The unexpected announcement is accentuated because Xero's founder and CEO Rod Drury was an NZX director from November 2009 to May 2013.Following his [...]

By | November 10th, 2017|Categories: Business|0 Comments

Up for grabs: Is this Auckland's last unnamed beach?

Always wanted to walk along a sandy beach that bears your name? This could be your chance with the sale of a property that sits above what is thought to be Auckland's last un-named bay [...]

By | November 10th, 2017|Categories: Business|0 Comments

Air NZ fares to London – how low can they go?

Flight Centre has fired the latest shot in the airfare war, with Air New Zealand return flights to London dropping below $1300The agent says its $1299 fare is the cheapest ever for Air New Zealand [...]

By | November 10th, 2017|Categories: Business|0 Comments

Mary Holm: Home-builders caught by the rules

My partner and I are in our 30s and 40s and living in Auckland. A couple of years ago, when we realised we could never afford to buy anything we liked in Auckland, we decided [...]

By | November 10th, 2017|Categories: Business|0 Comments

Parking a factor in 'underperforming' CBD – retail rep

Tauranga's CBD is underperforming as a shopping destination according to a new piece of analysis, and a retailers' representative points to parking as the main problem. Tauranga Mainstreet chairman Brian Berry said increasing difficulty... Source: [...]

By | November 10th, 2017|Categories: Business|0 Comments

Bethunes narrows first-half loss as Retail Property break fee bolsters income

Bethunes Investments narrowed its first-half loss after benefitting from a break fee when Westgate Power Centre-subsidiary NZ Retail Property Group terminated a proposed reverse listing transaction.Auckland-based Bethunes said its... Source: NZ Herald Business News

By | November 10th, 2017|Categories: Business|0 Comments

Rich Lister's advice for those under 35

Rich lister Gavin Faull has a piece of advice for those under 35."Look for jobs with opportunities, don't look for jobs for money," says the head of hotel chain Swiss-Belhotel International.His wealth - put at [...]

By | November 10th, 2017|Categories: Business|0 Comments

Why the best workers are fleeing Sydney

There has never been a better time to be a highly skilled worker in search of a corner office, but new data shows tech and finance employees are eager to leave Sydney.Economist at jobs site [...]

By | November 10th, 2017|Categories: Business|0 Comments

Vista Group announces share split to increase liquidity

Vista Group International plans to double its shares on issue via a two-for-one split to increase market liquidity.Shareholders will receive two ordinary shares for every one ordinary share held at 5pm on the record date [...]

By | November 10th, 2017|Categories: Business|0 Comments

Emirates gets corporate jets for pilot training

Emirates has got the first of its corporate jets made by Brazil's Embraer to train pilots at its new academy in Dubai.The airline has taken delivery of the first of five Phenom 100EVs that will [...]

By | November 9th, 2017|Categories: Business|0 Comments

Next big thing for investors, or the next big bubble?

Kiwi investors are flocking to exchange-traded funds (ETFs), joining a global trend which has seen record amounts of money flow into the funds.But there are concerns that such funds are fuelling an unsustainable sharemarket bubble... [...]

By | November 9th, 2017|Categories: Business|0 Comments

Domino's launches high-tech solution to common pizza gripe

Are you tired of opening a pizza box to discover a meagre serving of your favourite topping? Do you hate when the best bits are all on one slice, or worst of all, when it's [...]

By | November 9th, 2017|Categories: Business|0 Comments

Brian Fallow: Why the long faces about the economy?

There has been more than a whiff of gloom and dread in the business confidence surveys of late, but the Reserve Bank is taking a more cheerful view."Overall, the economic outlook is very positive," governor [...]

By | November 9th, 2017|Categories: Business|0 Comments

Stock Takes: Milk firms' shares slip after stellar run

It had to happen some time.A2 Milk and its affiliated supplier, Synlait Milk, have seen their share prices plummet after a stellar run.Both stocks received an added boost when, in September, Synlait received registration to [...]

By | November 9th, 2017|Categories: Business|0 Comments

How the Paradise Papers reveal the tension between rock stars and the tax man

"It's one for you, 19 for me" ran George Harrison's scabrous jibe at the "Taxman" in 1966, a bitter riposte to the 95% supertax that Prime Minister Harold Wilson's Labour government had imposed on the [...]

By | November 9th, 2017|Categories: Business|0 Comments

Auckland units sell for more than $3 million, buck nationwide downwards trend

Two units in Auckland's eastern suburbs that sold for more than $1 million above CV have bucked a nationwide trend of declining sales and values. The two units on Mission Bay's Ronaki Rd sold at [...]

By | November 9th, 2017|Categories: Business|0 Comments

NZ petrol prices hit two-year high of $2.13 a litre; slammed as unjustified

Rising petrol prices have been causing pain at the pump as fuel hits a three year high - and the latest rise is unjustified, the Automobile Association says. AA petrol price spokesman Mark Stockdale said [...]

By | November 9th, 2017|Categories: Business|0 Comments

Economy Hub: Making sense of the Reserve Bank's first post election decision

Reserve Bank governor Grant Spencer has warned against over playing forecast hikes to interest rates, saying the next move could still be down.The Reserve Bank left rates on hold at 1.75 per cent today, however, [...]

By | November 9th, 2017|Categories: Business|0 Comments

It's goodbye to the BRICs, hello Africa

The so-called BRIC grouping will become "almost irrelevant", says a senior partner at consulting giant McKinsey.The BRIC nations - Brazil, Russia, India and China - were once the poster children for economic growth. However, the... [...]

By | November 9th, 2017|Categories: Business|0 Comments

Gadget review: Xbox One X

What is it? According to Microsoft, the Xbox One X is the "world's most powerful console". It promises "faster load times," "steadier frame rates" and "better resolution" for a "more immersive" gaming experience. After trialling... [...]

By | November 8th, 2017|Categories: Business|0 Comments

Price fall drags on dairy forecast

Fonterra's milk price forecast for the current season remains under downward pressure after product prices fell by 3.5 per cent at the latest GlobalDairyTrade auction.However, economists said the weaker New Zealand dollar would... Source: NZ [...]

By | November 8th, 2017|Categories: Business|0 Comments

People becoming more gloomy about property: ASB survey

People are becoming more gloomy about property as price expectations hit a six-year low and interest rates are expected to rise.The ASB Housing Confidence Survey out today showed many of the 2777 respondents expected interest [...]

By | November 8th, 2017|Categories: Business|0 Comments

Philip Barry: An electricity price review should look at network operators

The coalition agreement has a review of retail electricity prices among the priority actions to be undertaken by the new Government in its first 100 days. This raises the questions, what underlies the desire for [...]

By | November 8th, 2017|Categories: Business|0 Comments

Mike Hosking: Let's not get too picky about our trade partners

Russia, screamed the headline, is the new Government's first crisis.Crisis is a very strong word and - as it turns out - completely misused in this particular case.The "crisis" was the revelation that deep inside [...]

By | November 8th, 2017|Categories: Business|0 Comments

Aaron Drever, disgraced former real estate agent, takes over Nosh store

A man once branded the country's worst real estate agent has reinvented himself as a grocer and says he's turned over a new leaf.Aaron Drever is the man behind the Grocer's Market, opening in the [...]

By | November 8th, 2017|Categories: Business|0 Comments

Super Fund used firm at centre of 'Paradise Papers' leak

The New Zealand Superannuation Fund has used the Bermuda-based law firm Appleby at the centre of the 'Paradise Papers' tax papers leak.The fund's manager, Guardians of New Zealand Superannuation, today said it used the law [...]

By | November 8th, 2017|Categories: Business|0 Comments

Business coach Kimberly Sumner shares tips on how women should ask for a pay rise

Female employees are likely to be putting in the hard yards - but not getting the glory in return, an Auckland business expert said.Women's corporate coach Kimberly Sumner wants to empower ladies to get valued [...]

By | November 8th, 2017|Categories: Business|0 Comments

Cooking the Books podcast: Why you should be keeping an eye on bitcoin

Each week the New Zealand Herald and Newstalk ZB's Cooking The Books podcast tackles a different money problem. Today, it's working out what all the fuss is about bitcoin, and whether you should be getting [...]

By | November 8th, 2017|Categories: Business|0 Comments

Appeal dismissed in winery shareholder spat

The Court of Appeal has dismissed a challenge from the owner of a Central Otago winery over orders that it buy a fellow shareholder's stake for $2.62 million.Greg Hay, co-founder of Peregrine Wines, wished to [...]

By | November 8th, 2017|Categories: Business|0 Comments

Dairy product prices fall for third straight GDT auction

Dairy product prices fell for the third straight time at the latest Global Dairy Trade auction as whole milk powder extended its decline and skim milk powder recovered.The GDT price index fell 3.5 per cent [...]

By | November 7th, 2017|Categories: Business|0 Comments

Fran O'Sullivan: Eyes of world on our Coalition of Change

Parliamentary pratfalls - no matter how entertaining - will not be how the Ardern Government is judged by the grown ups.The Ardern Administration is displaying considerable pragmatism in its first days in power.The disorder in... [...]

By | November 7th, 2017|Categories: Business|0 Comments

Brent Sheather: Super Fund's farm buys look good value

The NZ Super Fund recently announced that it had made its first offshore farm investment taking a stake in a leading Australian beef stud. This brings the fund's rural land portfolio to 33 farms worth [...]

By | November 7th, 2017|Categories: Business|0 Comments

$187b bid for Qualcomm a tech sector record breaker

Qualcomm is preparing to reject a US$130 billion ($187.7b) takeover offer from US microchip rival Broadcom that, if agreed, would be the biggest technology deal of all time.Broadcom confirmed the mammoth cash, shares and debt [...]

By | November 7th, 2017|Categories: Business|0 Comments

Vodafone leaves iPhone X customers waiting until Xmas

Some unhappy mobile phone customers will have to wait till nearly Christmas before they get to hold their latest model Apple iPhone.While many tech junkies already have or continue to collect their dream phone, those [...]

By | November 7th, 2017|Categories: Business|0 Comments

Liam Dann: Market relieved as Govt sets out Reserve Bank plan

Details of the Government's Reserve Bank Act review provoked a rise in the dollar suggesting global markets were untroubled by fears that it might weaken monetary policy.Finance Minister Grant Robertson unveiled a two-phase review... Source: [...]

By | November 7th, 2017|Categories: Business|0 Comments

Air fare war heats up: London flights on Air NZ even cheaper

A price war has broken out for Air New Zealand flights to London, with one travel agency offering return tickets for $1399.This follows House of Travel yesterday selling what it said was the best Air [...]

By | November 7th, 2017|Categories: Business|0 Comments

Fonterra buys into Lithuanian dairy company

Fonterra has spent $11.5 million to take a 10 per cent shareholding in Lithuania's biggest dairy producer, AB Rokiskio Suris.The co-operative said the move would secure a supply line of high-value whey ingredients while opening... [...]

By | November 7th, 2017|Categories: Business|0 Comments

Norovirus outbreak plagues cruise ship bound for Auckland

A passenger on a cruise ship plagued with a vomiting and diarrhoea bug says he only learnt previous guests had been struck down with the same thing once they set sail.Sydney man Walter Gibian and [...]

By | November 7th, 2017|Categories: Business|0 Comments

Juha Saarinen: iPhone X not perfect, but a glimpse into the future

How do you get consumers to part with $1800 to $2100 for a smartphone? That's the question Apple sought to answer with the iPhone X, which despite the high price has become a new consumer [...]

By | November 7th, 2017|Categories: Business|0 Comments

Soaring stockmarkets stoke fears of devastating crash

Soaring stock market valuations on both sides of the Atlantic are stoking fears of a looming correction as valuations hit levels not seen since the dotcom bubble and the eve of the Wall Street crash.Stocks [...]

By | November 6th, 2017|Categories: Business|0 Comments

First-home buyers jump as investor numbers fall

Westpac says there has been a big drop in property investors since new loan-to-value ratio rules aimed at the amount of low-deposit mortgage lending came into play last year.However, the bank's lending to first-home buyers [...]

By | November 6th, 2017|Categories: Business|0 Comments

Mike Pero chased for $2.2 million overpayment

Mike Pero Mortgages has been given the green light to pursue its founder and namesake for $2.2 million that he overpaid himself at their jointly-owned real estate business.The move is the latest in a long-running [...]

By | November 6th, 2017|Categories: Business|0 Comments

Westpac earnings soar to $970m

Westpac New Zealand chief executive David McLean is hopeful a slowing local property market will consolidate and income levels will rise to make housing more affordable over the long term.The bank yesterday said lower impairments... [...]

By | November 6th, 2017|Categories: Business|0 Comments

ANZ boss paid $4.3 million in 2017

ANZ's boss in this country David Hisco was paid $4.27m this year, down slightly on what he earned in 2016.The latest annual report from ANZ reveals that Hisco, New Zealand chief executive, received remuneration of [...]

By | November 6th, 2017|Categories: Business|0 Comments

Agent says its Air New Zealand fares to London are the best ever

House of Travel is selling what it says is the best Air New Zealand airfare to London it's ever offered.Passengers can fly economy from $1649 return a person aboard during March and April next year.The [...]

By | November 6th, 2017|Categories: Business|0 Comments

Trustpower profit up 80%, hopes price inquiry will be broad

Trustpower hopes the government inquiry into retail power prices will be wide and take into account all factors that push up bills.The new Government will hold an inquiry into prices with its scope determined before [...]

By | November 6th, 2017|Categories: Business|0 Comments

Viv Beck: Waterfront plan stop-gap thinking to placate public

Viv Beck is chief executive of Heart of the City Plans released by Ports of Auckland last week respond to issues that have been raised by the public, which on one level is positive. They [...]

By | November 6th, 2017|Categories: Business|0 Comments

Mortgage fraudster loses Supreme Court bid

The woman at the centre of a $9.2 million mortgage fraud has lost another bid to challenge her jail sentence - this time before the Supreme Court Eli Devoy, in her late 40s, was sentenced [...]

By | November 6th, 2017|Categories: Business|0 Comments

EcoStock turning food waste into millions

Food waste recycler EcoStock is turning other people's rubbish into millions of dollars.The Auckland business deals with eight double-decker buses of food waste every day - seven days a week.The company buys vegetable scraps,... Source: [...]

By | November 5th, 2017|Categories: Business|0 Comments

Local Focus: Cycling on water now a reality

Walking on water may be the stuff of miracles. But thanks to one Hamilton man, biking on water is now a reality.Guy Howard-Willis, the founder of Kiwi cycling company Torpedo7 , has turned his dream [...]

By | November 5th, 2017|Categories: Business|0 Comments

Small Business: How a stint in Nepal sparked a business idea – The Rubbish Whisperer

The Rubbish Whisperer founder Helen Rupp's time in Nepal opened her eyes to the problem of plastic and she started her Christchurch business to combat how much plastic ends up in the ocean. What does [...]

By | November 5th, 2017|Categories: Business|0 Comments

Reserve Bank likely to keep official rates on hold

Economists expect the Reserve Bank to keep its official cash rate at 1.75 per cent when it releases its monetary policy statement on Thursday, but the timing of future hikes will be cloudy until the [...]

By | November 5th, 2017|Categories: Business|0 Comments

Spike in Rotorua rents worries property experts

By Katee Shanks and Sinelle Fernandez Rotorua tenants, including "double-income families" are being locked out of the rental market as weekly prices soar 20 per cent in 12 months.The latest Trade Me Rental Property Index [...]

By | November 5th, 2017|Categories: Business|0 Comments

UDC buyer HNA pays top dollar for US debt

HNA, the Chinese conglomerate that is in the process of buying New Zealand finance company UDC Finance from ANZ, is paying top dollar for its investment in US debt markets.Financial news wires reported last week [...]

By | November 5th, 2017|Categories: Business|0 Comments

In defense of the ever-unpopular corporate aircraft

The Wall Street Journal has had a jolly good time recently exposing a small example of corporate excess: It seems that during the years Jeff Immelt was the chief executive of General Electric Co., the [...]

By | November 5th, 2017|Categories: Business|0 Comments

Inside Waymo's secret site where driverless cars are tested

There is a man in a straw hat who earns a paycheck here by crossing the street over and over again. Sometimes he stares down at his cellphone, often he wanders outside of the crosswalk, [...]

By | November 5th, 2017|Categories: Business|0 Comments

New legal service settles divorce spats online, is brainchild of QC

A new legal dispute resolution service could save tens of thousands of dollars in court costs and take the emotional strain out of relationship property disputes and other spats.Complete Online Dispute Resolution (CODR) is the [...]

By | November 5th, 2017|Categories: Business|0 Comments

Servicing company 'might have' driven Lamborghini at 170km/h

The owner of a servicing company for luxury cars is admitting he "might have" driven his customer's Lamborghini at speeds of up to 170km/h. Aucklander Chris Mosley was the proud owner of the country's first [...]

By | November 5th, 2017|Categories: Business|0 Comments

Diana Clement: How to make more money from your savings

Squeezing better returns from your savings is almost always possible, and it's worth a regular review. Sometimes better interest can be earned by switching to an online only account or a short-ish term deposit.There are [...]

By | November 4th, 2017|Categories: Business|0 Comments

The Conversation: How online companies can read your mind

Have you ever you looked for a product online then had a recommendation pop up for the exact thing you need to complement it?Or have you been thinking about a particular purchase, only to receive [...]

By | November 4th, 2017|Categories: Business|0 Comments

Winston Peters' plans to reopen trade with Russia raises alarm from Europe

New Zealand First's plans to reopen trade negotiations with Russia have sparked the new Government's first international crisis.The unheralded policy this week drew an unusually forthright and undiplomatic rebuke from European Union... Source: NZ Herald [...]

By | November 4th, 2017|Categories: Business|0 Comments

Otago University pro-vice-chancellor defends fresh job cuts

The University of Otago says it is not "economically viable" to keep its Centre of Materials Science and Technology open.The university's pro-vice-chancellor, sciences, Professor Richard Barker was responding to criticism from the... Source: NZ Herald [...]

By | November 4th, 2017|Categories: Business|0 Comments

Gina Rinehart reclaims title of Australia's richest person as Hancock profits soar

Gina Rinehart's Hancock Prospecting doubled profits in 2016-17 to more than $1 billion (NZ$1.107 billion) as the Roy Hill mine finally hit full tilt, iron ore prices rose and a $190 million (NZ$210 million) donation [...]

By | November 4th, 2017|Categories: Business|0 Comments

Have you ever wondered where the Queen gets her groceries?

Have you ever wondered where the Queen buys her hot sauce? Well, wonder no more: it comes straight out of New Orleans, courtesy of McIlhenny Company, in the form of its renowned Tabasco.What about her [...]

By | November 4th, 2017|Categories: Business|0 Comments

Inside Singapore Airlines' new Airbus A380 luxury series

Singapore Airlines unveiled the all-new cabins that will be installed on its fleet of Airbus A380 Superjumbos yesterday.Singapore Airlines is the A380's launch customer and the aircraft's second largest operator. After a decade... Source: NZ [...]

By | November 4th, 2017|Categories: Business|0 Comments

$660m man sets sights on new targets

With a cool $660 million in his back pocket, Brendan Lindsay was a popular guy.First, there was the seemingly endless stream of investment banking types turning up on his doorstep with the refrain: "Have I [...]

By | November 3rd, 2017|Categories: Business|0 Comments

Grant Robertson: Finance Minister more than Dr No

Half of the public service, it seemed, was pouring out of Grant Robertson's new office near the top of the Beehive.Ministry of Education, IRD and Social Development officials, their ministers Chris Hipkins, Tracey Martin, Stuart... [...]

By | November 3rd, 2017|Categories: Business|0 Comments

Northland island hits market with $16m price tag

The only privately-owned island in Northland's Cavalli Islands is for sale for $16 million after a controversial deal to sell it to overseas interests seven years ago sparked an official investigation.Motukawaiti Island - the... Source: [...]

By | November 3rd, 2017|Categories: Business|0 Comments

Fran O'Sullivan: Port leaders need the power to persuade

Expansion plan will be a tough sell, with so many players wanting their say on Auckland port's futureWill port expansion opponents be won over by the new plan, including a hotel (left) and rooftop park? [...]

By | November 3rd, 2017|Categories: Business|0 Comments

First NZ artificial island for luxury housing opening tonight

The first artificial man-made island at Coromandel's $1.5 billion Whitianga Waterways will be opened tonight and most sections on that 11ha $200m island have already been sold.Leigh Hopper, chief executive of Hopper Developments,... Source: NZ [...]

By | November 3rd, 2017|Categories: Business|0 Comments

MBIE figures show nationwide housing shortage of 71,000

New Zealand needs 71,000 more houses - more than half of them in Auckland - the country's biggest city. Nationwide Ministry of Business, Innovation and Employment figures released to the Herald show there is a [...]

By | November 3rd, 2017|Categories: Business|0 Comments

Christchurch businessman jailed for not paying tax

A Christchurch businessman has been jailed for just over two years for not paying tax.Raymond Martin Kesha owned Be Smart Accounting and Be Smart Group but didn't pay almost $200,000 in deductions over five years.The [...]

By | November 3rd, 2017|Categories: Business|0 Comments

Apple worth more than a trillion dollars

Apple Inc has revealed it is worth a trillion dollars after making a whopping $15.4 billion in the last three months.The news comes as the company released its latest financial results, which also says that [...]

By | November 3rd, 2017|Categories: Business|0 Comments

How to challenge your boss without getting fired

Biting our tongues when the boss is around is a natural instinct for most of us, but employment experts say regularly challenging your superiors could be a good thing for your career - provided you [...]

By | November 3rd, 2017|Categories: Business|0 Comments

Can bosses make secret recordings of staff?

Many employers in New Zealand monitor staff conduct through workplace technology. Monitoring technology is useful to preserve business reputation, protect confidential information, and improve productivity. No one wants to find... Source: NZ Herald Business News

By | November 3rd, 2017|Categories: Business|0 Comments

Man's rental nightmare in Whangarei lasts less than 24 hours

Desperate for a home, Kevin Middleton moved into an upstairs room of a Whangarei property but had no inkling his stay would last barely 24 hours.During that time, his Kensington flat was invaded by a [...]

By | November 2nd, 2017|Categories: Business|0 Comments

Christchurch decides against sex work bylaw

Christchurch City Council will not pursue a bylaw to regulate street-based sex work in Manchester Street.Instead the Council will work with the New Zealand Prostitutes' Collective on setting up a community working group to look... [...]

By | November 2nd, 2017|Categories: Business|0 Comments

Gina Rinehart Australia's richest person again

Gina Rinehart's Hancock Prospecting doubled profits in 2016-17 to more than A$1 billion ($1.2b) as the Roy Hill mine finally hit full tilt, iron ore prices rose and a A$190 million donation towards building a [...]

By | November 2nd, 2017|Categories: Business|0 Comments

Stock Takes: A2Milk loses some froth

This year's sharemarket darling A2 Milk has come off the boil this week after having a very strong run this year.A2's share price hit an all-time high of $8.75 on Monday before it took a [...]

By | November 2nd, 2017|Categories: Business|0 Comments

Finalists named in Deloitte Top 200 awards

The field has been narrowed in the prestigious Deloitte Top 200 Business Awards with 27 finalists announced across nine categories.The awards, celebrating 28 years of business excellence and individual, team and management performances... Source: NZ [...]

By | November 2nd, 2017|Categories: Business|0 Comments

Cheesed-off Timaru mum buys three packs of mozzarella, all mouldy

A Timaru mother is furious after nearly feeding her children mouldy Mainland cheese - then finding more mould after buying new packs of cheese two more times.Claire Curran said mouldy mozzarella three times in a [...]

By | November 2nd, 2017|Categories: Business|0 Comments

Singapore Airlines' luxury double-bed suites designed for intimacy

Singapore Airlines has unveiled its $1.2 billion upgrade of its A380s with new luxury first-class suites that have a new double bed, furnishings and styling to give "a touch of luxury and intimacy". The new [...]

By | November 2nd, 2017|Categories: Business|0 Comments

Housing market will go flat, predicts BNZ boss Anthony Healy

Exiting BNZ boss Anthony Healy is predicting a flat housing market ahead but believes the bank's home loan book will continue to grow on the back of a shortage of houses in Auckland.The Australian-owned bank [...]

By | November 2nd, 2017|Categories: Business|0 Comments

Why experts say offices should play music

Is playing music in the office a productivity booster or an annoying distraction?According to behavioural scientists and management experts, it's definitely the former.But as anyone who has been forced to endure Christmas carols... Source: NZ [...]

By | November 2nd, 2017|Categories: Business|0 Comments

TPP would be a notch on Labour's trade belt

Jacinda Ardern and David Parker have singled out the China bilateral deal as proof positive that Labour has cast-iron credentials when it comes to nailing free trade agreements.The jury is out on whether they will [...]

By | November 2nd, 2017|Categories: Business|0 Comments

Industry-wide strikes impossible under Fair Pay Agreements – Govt

The Government is giving assurances that industry-wide strikes will not be possible under its proposed Fair Pay Agreements, which would set minimum standards across entire industries.The agreements represent a major change to the... Source: NZ [...]

By | November 1st, 2017|Categories: Business|0 Comments

Auckland house values drop for the first time in six years

Auckland house values have dipped for the first time in six years as the housing market continues to cool nationwide.Residential property values in the Auckland region decreased 0.6 per cent year on year, dropping by [...]

By | November 1st, 2017|Categories: Business|0 Comments

Milk firms, Fletcher drag sharemarket down

New Zealand shares fell, pulled lower by A2 Milk Co and Synlait, with construction stocks Metro Performance Glass and Fletcher Building also taking a haircut.The S&P/NZX 50 Index dropped 92.53 points, or 1.1 per cent, [...]

By | November 1st, 2017|Categories: Business|0 Comments

NZ dollar spikes on prospect of wage inflation

The spectre of wage inflation made its presence felt on the Kiwi dollar today when it shot higher on the back of stronger than expected labour data, which showed the unemployment rate fell to a [...]

By | November 1st, 2017|Categories: Business|0 Comments

Moyes Panmure to close after 30 years

Moyes Panmure, known as the place "beside the big Mt Wellington", is to close after 30 years selling new and used cars to Aucklanders.Directors of the well-known dealership came to the decision after its major [...]

By | November 1st, 2017|Categories: Business|0 Comments

Top Shop lost $4.1m over its three-year life

Trade creditors owed $1.8m by the company which operated Top Shop stores in this country are unlikely to get any of that money back.Top Retail, which operated the Top Shop and Topman stores in Auckland [...]

By | November 1st, 2017|Categories: Business|0 Comments

Probe after clipboard sucked into Jetstar engine

Ground-handling firm Aerocare is investigating an incident where a clipboard left on an engine cowling was sucked into the engine of a Jetstar plane bound for Sydney.A union said it was "an unfathomable incident" which [...]

By | November 1st, 2017|Categories: Business|0 Comments

Mac's founder Terry McCashin has died

The man credited with changing beer drinking habits in this country, Terry McCashin, has died.McCashin, a former All Black, passed away this week.He was in his mid-70s.McCashin, together with his wife Bev, founded the country's... [...]

By | November 1st, 2017|Categories: Business|0 Comments

Cooking the Books podcast: How to become an investor without losing your soul

Each week the New Zealand Herald and Newstalk ZB's Cooking The Books podcast tackles a different money problem. Today, it's how to invest your money ethically. Hosted by Frances Cook. Kiwis have shown over and [...]

By | November 1st, 2017|Categories: Business|0 Comments

Auckland ranked the 28th most friendly city in the world for tourists

Auckland is down the list of the world's friendliest cities in the world on 28th spot, one above London but well above Sydney which is in 55th place. According to a study of the top [...]

By | October 31st, 2017|Categories: Business|0 Comments

New Zealand's number of homes for sale has halved in 10 years

The number of homes for sale has slumped by almost 50 per cent, with asking prices doing the exact opposite, rising by almost 50 per cent, in the past decade. Figures from realestate.co.nz show the [...]

By | October 31st, 2017|Categories: Business|0 Comments

Rachel Stewart: BigAg must wake up to synthetic threat

Just when you think that BigAg can't do denial any better than dairying's proven impact on waterways, they come up with yet another pearler. Despite all the evidence, industry leaders don't believe plant-based meat and [...]

By | October 31st, 2017|Categories: Business|0 Comments

New Zealand shares rise led by Ryman Healthcare

New Zealand shares rose, ending the month up 2.7 per cent, led by a revival in Ryman Healthcare while Sky Network Television and NZX dropped.The S&P/NZX 50 Index gained 2.36 points, or 0.03 per cent, [...]

By | October 31st, 2017|Categories: Business|0 Comments

New Zealand dollar declines after business confidence fell

The New Zealand dollar extended its decline after business confidence fell, Chinese data was softer than expected and Prime Minister Jacinda Ardern confirmed that foreign speculators will no longer be able to buy houses in [...]

By | October 31st, 2017|Categories: Business|0 Comments

Ban on foreign house buyers by early 2018 – but Aussie buyers exempt

New legislation will be introduced before Christmas to ban foreigners from buying existing residential homes in New Zealand, Prime Minister Jacinda Ardern announced at her post-Cabinet press conference today.The new law would amend... Source: NZ [...]

By | October 31st, 2017|Categories: Business|0 Comments

Leak-proof Kiwi underwear hits world's biggest TV shopping network

Kiwi-made incontinence underwear will now feature on the world's largest TV shopping network.Auckland-based Confitex, which designs and manufactures leak-proof and washable underwear, will make its entry into the US market on cable... Source: NZ Herald [...]

By | October 31st, 2017|Categories: Business|0 Comments

Ponsonby shack fails to sell at auction

A DIY "bargain" on a tiny slice of Ponsonby land, for someone prepared to get their hands dirty, has failed to sell at auction despite some interest.The rickety 48sq m house, which sits at the [...]

By | October 31st, 2017|Categories: Business|0 Comments

Topshop is back with Aussie online retailer

Australian online fashion retailer The Iconic has been named the exclusive online seller for British brand Topshop.Topshop and Topman products are now available to Kiwis through The Iconic's website, adding to its online portfolio... Source: [...]

By | October 30th, 2017|Categories: Business|0 Comments

App big time-saver for small businesses

A new mobile app which brings together banking, accounts and sales data is intended to allow greater oversight and save time for small businesses.ASB has launched Plus - a platform that brings together Xero, Vend [...]

By | October 30th, 2017|Categories: Business|0 Comments

Mark Lister: Why dollar is falling as sharemarket rises

• Mark Lister is head of private wealth research at Craigs Investment Partners. This column is general in nature and should not be regarded as specific investment advice. The author holds shares in a number [...]

By | October 30th, 2017|Categories: Business|0 Comments

Exporters lead shares higher

New Zealand shares rose, buoyed by exporters Scales Corp and Synlait Milk, while Mainfreight and Air New Zealand fell as investors weigh up possible policy changes from the new Government.The S&P/NZX 50 Index gained 58.99 [...]

By | October 30th, 2017|Categories: Business|0 Comments

New Zealand dollar out of favour

The New Zealand dollar fell as traders digested comments from Finance Minister Grant Robertson that the Reserve Bank's mandate will be widened, while offshore, the announcement of the new Federal Reserve chair is keenly awaited.The... [...]

By | October 30th, 2017|Categories: Business|0 Comments

Thousands hit as Virgin's Samoan flights canned

Up to 6000 passengers could be hit by the Samoan government's decision to deny Virgin Australia the right to fly from Auckland to Apia.Virgin Australia had planned to fly five return services a week from [...]

By | October 30th, 2017|Categories: Business|0 Comments

Has Auckland hit peak construction as national crane numbers drop?

The number of cranes operating in New Zealand declined for the first time in years, largely due to a sharp drop in Christchurch.According to the Rider Levett Bucknall (RLB) Crane Index, out last week, the [...]

By | October 30th, 2017|Categories: Business|0 Comments

Signs of stronger prices for NZ deer velvet

The deer velvet season has opened strongly, with farmers reporting early enquiries from buyers at prices 10-15 per cent above last season's close, Deer Industry NZ said.Deer Industry NZ market manager Rhys Griffiths regulatory changes... [...]

By | October 30th, 2017|Categories: Business|0 Comments

NZ shares heading for 2.5 per cent gain in October despite election; Scales, Synlait, A2 gain

New Zealand shares rose, buoyed by exporters Scales Corp and Synlait Milk, while Mainfreight and Air New Zealand fell as investors weigh up possible policy changes from the new government.The S&P/NZX 50 Index gained 58.99 [...]

By | October 30th, 2017|Categories: Business|0 Comments

Killing of Maltese journalist silences anti-corruption voice

BIDNIJA, Malta (AP) " A few hundred meters from the home of Maltese investigative journalist Daphne Caruana Galizia, in the field where the flaming wreckage of her car landed after being blown off the road [...]

By | October 30th, 2017|Categories: Business|0 Comments

David Parker targets trade deal and bar on house sales to overseas buyers

New Trade Minister David Parker is considering advice that an explicit ban on house sales to offshore speculators could be acceptable under the TPP trade deal if it is passed into New Zealand law before [...]

By | October 29th, 2017|Categories: Business|0 Comments

Iceland heads to coalition talks after inconclusive vote

REYKJAVIK, Iceland (AP) " Iceland's ruling Independence Party has unexpectedly won the largest share of the vote in the national election and now faces the difficult task of forming a government after a record eight [...]

By | October 29th, 2017|Categories: Business|0 Comments

India starts trade route to Afghanistan via Iran

NEW DELHI (AP) " India on Sunday shipped its first consignment of wheat to Afghanistan by sea through Iran's strategic Chahbahar Port, launching a trade route bypassing longtime rival Pakistan.The shipment, an Indian gift for [...]

By | October 29th, 2017|Categories: Business|0 Comments

What New Zealand can learn from Ireland

The head of Ireland's tourism agency says his country and New Zealand have a lot to learn from each other.Ireland is often cited by New Zealand tourism leaders as an example of a country with [...]

By | October 29th, 2017|Categories: Business|0 Comments

Small Business: The Kaikoura app company digitalising school communication – Alert Media

Sharlene Barnes, founder and owner of Kaikoura-based app maker Advert Media talks about overseas investment and how her app designed for schools and parents is improving communication. What does your business do? We provide schools... [...]

By | October 29th, 2017|Categories: Business|0 Comments

Weirdness returns to Key West after Hurricane Irma

KEY WEST, Fla. (AP) " Things are weird, as usual, in Key West.A pair of Vikings push a stroller full of stuffed chimps down Duval Street. A man with a ponytail swallows a steel sword. [...]

By | October 29th, 2017|Categories: Business|0 Comments

ANZ Bank's David Hisco says NZ property has peaked

ANZ's New Zealand chief executive David Hisco thinks the Auckland property market probably peaked last year but that conditions are still difficult for first home buyers.Hisco, who heads up the country's biggest lender, hit the... [...]

By | October 29th, 2017|Categories: Business|0 Comments

Supermarket worker fired for working too hard, arriving early

A supermarket manager is suing his former bosses after they sacked him for working too hard.The dedicated former manager, known as "Jean P", had worked at discount supermarket chain Lidl in Barcelona for 12 years [...]

By | October 29th, 2017|Categories: Business|0 Comments

Job ads continue to trend upwards

Job ads are continuing on an upward trend according to new data from career website seek.co.nz.Job ads this September were up 9.6 per cent compared to last year, and the growth was seen across all [...]

By | October 29th, 2017|Categories: Business|0 Comments

Apple under pressure over iPhone X delays

Delays to Apple's flagship iPhone will weigh on the tech giant's profits this week amid weak demand for its second-rank new handset.The iPhone X features an overhauled design and costs up to £1,149 (NZ$2191) but [...]

By | October 28th, 2017|Categories: Business|0 Comments

Diana Clement: Are you in the best Kiwisaver fund?

Are you in the best KiwiSaver fund - and what does that question even mean?Every provider will tell you they're the best, and there are many marketing tricks to look like a world beater. But [...]

By | October 28th, 2017|Categories: Business|0 Comments

Liam Dann: The problem with raising wages

I read a news story about how exhausted the press gallery is after the election. It made me smile.I'm not denying it's true. I have friends and family in the gallery. I appreciate how hard [...]

By | October 28th, 2017|Categories: Business|0 Comments

Why running a brothel is similar to running any business

It's likely your main drag has one - a drop-in massage parlour that looks a little, well, uninviting. Maybe it's the blocked out windows, the strange opening hours or the fact that it's difficult to [...]

By | October 28th, 2017|Categories: Business|0 Comments

Barbie's world shaken by bankruptcy

There's trouble in toyland, and companies are blaming Toys R Us.Mattel, the maker of Barbie dolls and Hot Wheels cars, reported disappointing third-quarter results late Thursday and said it was hurt by Toys R Us' [...]

By | October 28th, 2017|Categories: Business|0 Comments

Fast food wars: Kale and quinoa vs burgers and nuggets

Forget, for the moment, kale and quinoa, those trendy pretty boys of cuisine. The leafy vegetable and the ancient grain have for years fed the prevailing food narrative, that more people are trying to clean [...]

By | October 28th, 2017|Categories: Business|0 Comments

Will the dollar rebound or continue its descent?

The outcome of the election has hastened the expected move of the New Zealand dollar below US70c.BNZ currency strategist Jason Wong believes the dollar looks oversold against the backdrop of very high-risk appetite and the [...]

By | October 28th, 2017|Categories: Business|0 Comments

Asos' boss pay packet soars

Asos boss Nick Beighton has enjoyed a trebling of his pay package as the online fashion retailer's profits have continued to soar.Beighton, who took the reins from founder Nick Robertson in 2015, has had his [...]

By | October 27th, 2017|Categories: Business|0 Comments

Brian Gaynor: How to fix Fletcher Building

Fletcher Building chairman Sir Ralph Norris scored an A+ for crisis management at this week's annual meeting but he failed to answer the following key questions: Why were the directors unaware of the risks associated [...]

By | October 27th, 2017|Categories: Business|0 Comments

Eric Watson sells premier multi-million pad

Eric Watson has sold his multi-million dollar estate after several long-term marketing campaigns. The 33-hectare Auckland farm has been marketed by different real estate agencies off and on since 2010 but was successfully sold by... [...]

By | October 27th, 2017|Categories: Business|0 Comments

The Interview: Craig Hudson – Professional rugby player turned small business executive

For Craig Hudson rugby is in the blood.He travelled the world as a New Zealand Sevens rugby player before illness forced him from the field and into the business world.At accounting software company Xero, Hudson [...]

By | October 27th, 2017|Categories: Business|0 Comments

Small is good: Tiny rusted cottages win top design award

Two little rusted cottages have won big at the New Zealand Architectural Design awards - confirming not only can smaller, sustainable homes mean a simpler life, but they can look amazing too.This year's winner of [...]

By | October 27th, 2017|Categories: Business|0 Comments

Fran O'Sullivan: What's in the fine print of 'not for sale' sign?

At a press conference to unveil the coalition government agreement Winston Peters said New Zealand is no longer open for sale "in the way that it has been".That is clearly the case with the new [...]

By | October 27th, 2017|Categories: Business|0 Comments

Regional fuel tax comes as global tide turns on user-pays infrastructure funding

A regional petrol tax to help fund Auckland city's transport infrastructure comes amid a global change in the air for user-pays funding for major projects, provided the benefits stack up for those footing the bill. [...]

By | October 27th, 2017|Categories: Business|0 Comments

Saputo buys Australia's Murray Goulburn for A$1.3b

Canadian food giant Saputo has entered a deal to buy Australia's biggest dairy company, Murray Goulburn, for A$1.31 billion ($1.47b).Several major dairy companies, including New Zealand's Fonterra, had expressed an interest in the... Source: NZ [...]

By | October 27th, 2017|Categories: Business|0 Comments

Confusion over new security rules for US-bound flights

New security screenings for all passengers on U.S.-bound flights began on Thursday, with airlines worldwide questioning flyers about their trip and their luggage in the latest Trump administration decision affecting global travel.However,... Source: NZ Herald [...]

By | October 27th, 2017|Categories: Business|0 Comments

Amazon share jump sees Jeff Bezos close in on Bill Gates as world's richest man

Jeff Bezos was closing in on Bill Gates' status as the world's richest man this evening as shares in Amazon jumped following better-than-expected profits.The online retail giant, reporting its first set of results since it [...]

By | October 27th, 2017|Categories: Business|0 Comments

Goodman Property manager says fire-damaged Humes warehouse fully insured

Goodman (NZ), the manager of Goodman Property Trust, says the fire-damaged Humes warehouse in Penrose, Auckland, was fully insured and wasn't a meaningful part of its portfolio.Thirteen fire crews responded to the fire overnight... Source: [...]

By | October 27th, 2017|Categories: Business|0 Comments

NZ investors pick post-election winners and losers

With the ink barely dry on the new government's coalition agreement, investors are already laying bets as to who they think will win and who will lose under the new Labour-led regime.Since Labour's deal with [...]

By | October 26th, 2017|Categories: Business|0 Comments

Shane Jones promises economic boost for Northland

A $500 million-plus upgrade of rail to Auckland, a $150m-plus rail spur to Marsden Pt, and the possibility of moving Ports of Auckland work to Northport - new Forestry, Regional Economic Development, and Infrastructure Minister [...]

By | October 26th, 2017|Categories: Business|0 Comments

Chasing the tech jackpot

New businesses, big ideas - 2014 brought a stream of technology-focused companies to the sharemarket. Jamie Gray looks at how things worked out for the new arrivals, and their investors. Back in 2013 and '14, [...]

By | October 26th, 2017|Categories: Business|0 Comments

Peter Lyons: Raising the minimum wage may do the economy no harm

This Government is going to raise the minimum wage to $20 an hour by 2020. Anyone who has done Economics 101 knows the effects of a higher minimum wage. It will cause higher unemployment as [...]

By | October 26th, 2017|Categories: Business|0 Comments

Dave Burt: No wonder there is a skills shortage in construction

There is plenty of work, the construction sector is looking strong and the medium-term outlook is good. There are plenty of drivers to underpin the positive outlook, such as a buoyant commercial sector, a housing [...]

By | October 26th, 2017|Categories: Business|0 Comments

Will a ban on foreign buyers make houses cheaper?

The Labour-led Government's move to restrict foreign speculators from taking a chunk out of the property market is being questioned given a similar policy across the Tasman has done little to curb prices in Australia. [...]

By | October 26th, 2017|Categories: Business|0 Comments

Boeing cooks up a wing for longhaul travel

Next to Boeing's massive Everett factory near Seattle, a big part of the company's future is being built.In the 12ha Composite Wing Centre, the wings of the next generation 777s are being baked in 500-tonne [...]

By | October 26th, 2017|Categories: Business|0 Comments

What's the outlook for business travel?

The outlook for business travel is strong, but any further softening of the kiwi dollar could put the brakes on the growth in airline capacity, says FCM Travel Solutions general manager Andy Jack.While his firm [...]

By | October 26th, 2017|Categories: Business|0 Comments

Economy Hub: New Govt may slow GDP growth

GDP and employment growth are likely to slow as the new Government implements its tighter migration policy over the coming year, says ASB chief economist Nick Tuffley.Economists would be waiting for more detail on key [...]

By | October 26th, 2017|Categories: Business|0 Comments

Air New Zealand phasing in new screening as part of security crackdown by US

Air New Zealand is phasing in extra screening for passengers flying to the United States as part of new security measures the US is demanding from airlines around the world.All flights to the US are [...]

By | October 26th, 2017|Categories: Business|0 Comments

H&M to open its doors in Lower Hutt's Queensgate Mall today

Lower Hutt's Queensgate Mall is bracing for an influx of shoppers as one of the world's largest fashion retailers prepares to open its doors.H&M will open its first Wellington store at 10am.It will be spread [...]

By | October 25th, 2017|Categories: Business|0 Comments

African-Americans cautioned about American Airlines

The United State's oldest civil rights organisation, citing a "troubling pattern of disturbing incidents," urged travellers - particularly those who are African-American - to rethink whether they should fly with American Airlines.In... Source: NZ Herald [...]

By | October 25th, 2017|Categories: Business|0 Comments

Fran O'Sullivan: Fletcher chair at stellar best

Sir Ralph Norris's solo performance at Fletcher Building's AGM meeting yesterday will go a long way to assuaging immediate shareholder concerns about the company's troubled construction division.Norris was at his stellar best -... Source: NZ [...]

By | October 25th, 2017|Categories: Business|0 Comments

Ministers for business unveiled

Jacinda Ardern has unveiled the Cabinet lineup for the incoming government and the ministers who will have a big impact on the performance of the economy and corporate NZ. 1. Grant Robertson The new Finance [...]

By | October 25th, 2017|Categories: Business|0 Comments

Can building still bank on migration?

If the boom is to continue without a major increase in salaries, many of the forecasts rely on strong net migration. But whether industry can bank on this is up for debate, given the political [...]

By | October 25th, 2017|Categories: Business|0 Comments

Business wants fair pay too, says Ardern

Most businesses support a "fair set of employment policies" despite the opposition voiced by some business leaders to the new government's plans to raise the minimum wage and pursue a new style of Fair Pay [...]

By | October 25th, 2017|Categories: Business|0 Comments

NZ will still sign TPP – trade official reassures Japanese

One of New Zealand's leading trade officials has reassured Japanese media that New Zealand will still sign the TPP.During a visit to Japan special agricultural trade envoy Mike Petersen told The Nikkei Asian Review that [...]

By | October 25th, 2017|Categories: Business|0 Comments

Cooking the Books podcast: The dangers of getting a loan from family members

Each week the New Zealand Herald and Newstalk ZB's Cooking The Books podcast tackles a different money problem. Today, it's what to stay alert for if you lend money to family. Hosted by Frances Cook. [...]

By | October 25th, 2017|Categories: Business|0 Comments

Worker forced to resign after boss grew tired of her personal life affecting work wins $24,000

A trainee pharmacist who was forced to resign by her boss after he grew tired of her personal life affecting her work life has won $24,000 after the Employment Relations Authority (ERA) ruled it an [...]

By | October 25th, 2017|Categories: Business|0 Comments

David Parker emerges as pivotal minister in new Cabinet

Senior Labour Party MP David Parker has emerged as a linchpin in the new coalition Cabinet, taking the pivotal economic development, environment and trade portfolios that will connect him to key ministers in both the [...]

By | October 25th, 2017|Categories: Business|0 Comments

Housing plans revealed, foreign buyers out, rent-to-own in

Foreign buyers are out and a rent-to-own scheme is in as coalition agreements reveal plans to help Kiwis still hoping to purchase their own home. Agreements with NZ First and the Green Party were yesterday [...]

By | October 24th, 2017|Categories: Business|0 Comments

Fran O'Sullivan: Fletcher chairman in firing line

Sir Ralph Norris must achieve three things to retain shareholder confidence in Fletcher Building and himself as chairman.First, he must unveil credible financial guidance for the 2018 financial year which the market accepts is likely... [...]

By | October 24th, 2017|Categories: Business|0 Comments

Juha Saarinen: Selloff of NZ firms in Vocus

Unless you work in telco or ISP-land, you've probably not come across Aussie-owned Vocus before.Lots of you will be familiar with internet providers Orcon, Slingshot, and Maxnet which Vocus bought over the past few years, [...]

By | October 24th, 2017|Categories: Business|0 Comments

Shares rise as investors digest Government's plans

New Zealand shares eked out another gain as the market digested the details of the governing deals made by the incoming Labour Government, with A2 Milk hitting a fresh record.The S&P/NZX 50 Index edged up [...]

By | October 24th, 2017|Categories: Business|0 Comments

Frightening prices on pumpkins this Halloween

It's a week out from Halloween but the price of pumpkins are enough to make you jump in fright: at some retailers, a pre-cut quarter of the orange vegetable costs nearly $6.Pumpkins are sold by [...]

By | October 24th, 2017|Categories: Business|0 Comments

Minimum wage threatens economy: Employers and Manufacturers Association

The Government's just-announced minimum wage increase could "bring the economy to a grinding halt", warns the Employers and Manufacturers Association.Prime Minister-in-waiting Jacinda Ardern today committed to a minimum wage of... Source: NZ Herald Business News

By | October 24th, 2017|Categories: Business|0 Comments

Govt promises to get tough on tax evasion and fraud

The incoming Government has committed to lifting penalties for corporate fraud and tax evasion.While few details were revealed this afternoon, the lift in sanctions for this sort of offending was part of New Zealand First's [...]

By | October 24th, 2017|Categories: Business|0 Comments

Profit-takers stall carbon price, but $20 in sight for Christmas: OMF

The price of carbon in the New Zealand emissions trading scheme is nudging $19 a tonne and could reach $20 a tonne by Christmas, says the director for financial markets at OMF, which operates a [...]

By | October 24th, 2017|Categories: Business|0 Comments

Cadbury history project criticised by former marketing manager

Plans to document the social history of the Dunedin Cadbury factory "smacks of a guilty conscience" on the part of Mondelez International, a former Cadbury marketing manager says.Mondelez would not confirm details but said projects... [...]

By | October 24th, 2017|Categories: Business|0 Comments

The tricks to paying off your mortgage in under 10 years

With the thought of owning your own home seeming like a distant dream to many young people, one Aussie mum has proven that paying off your mortgage doesn't have to fill you with dread.Heidi Farrelly [...]

By | October 23rd, 2017|Categories: Business|0 Comments

China's trillion-dollar plan for world domination

As Donald Trump whips the world into a frenzy with his tweets, China is plotting a trillion-dollar global trade revamp which could change everything.It's being dubbed the "New Silk Road" which could redefine global trade [...]

By | October 23rd, 2017|Categories: Business|0 Comments

Analysts wary over property slowdown impact on bank profits

New Zealand's major banks are expected to report solid annual profits over the coming weeks but analysts will be watching out for signs of the impact from the slowing Auckland housing market.ANZ - New Zealand's [...]

By | October 23rd, 2017|Categories: Business|0 Comments

Mount Maunganui start-up DROPIT raises $5 million in two months

Mount Maunganui start-up DROPIT has raised $5 million in just two months in its latest funding round.DROPIT, a reverse auction app platform which counts down the price of an item to $0 in 60 seconds, [...]

By | October 23rd, 2017|Categories: Business|0 Comments

Hundreds of new airport jobs promised from Virgin Australia deal but union worried

Queensland-based ground handling firm Aerocare says it will create hundreds of jobs from a Virgin Australia contract in New Zealand but a union warns that workers' rights are threatened.Aerocare won the Virgin contract off Air [...]

By | October 23rd, 2017|Categories: Business|0 Comments

Airport group wants new government to help in the regions

A group representing airports wants payback from the new Government after getting behind candidates who supported regional airports during the election campaign.The New Zealand Airports Association said that during the lead-up to... Source: NZ Herald [...]

By | October 23rd, 2017|Categories: Business|0 Comments

Mark Lister: Companies have more to worry about than government

With the negotiations over, we've finally got a government and its time to get back to business. I doubt the election caused many local companies to pause for thought anyway. Most will have had more [...]

By | October 23rd, 2017|Categories: Business|0 Comments

All eyes on Grant Robertson to hold confidence

"The National Party didn't invent fiscal responsibility," said Grant Robertson in March as he unveiled a partnership with Green's committing to economic constraints.While the man set to be New Zealand's finance minister is a strong... [...]

By | October 22nd, 2017|Categories: Business|0 Comments

Does your house earn more than you?

Houses in many regions have taken a pay cut with stalling sales prices cutting into capital gains.In the past few years, homes in areas including Auckland had earned more in soaring values than the average [...]

By | October 22nd, 2017|Categories: Business|0 Comments

Small Business: From cooking for friends to cooking for customers – Jess' Underground Kitchen

Jess Daniell, 32, explains how being jobless enabled her to start her food business, and why she works close to 90 hours per week. Can you describe your business? Jess' Underground Kitchen is a ready-made [...]

By | October 22nd, 2017|Categories: Business|0 Comments

A2 milk stops some dairy intolerance symptoms – study

A special brand of milk containing the same amount of lactose as conventional cow's milk prevents some symptoms of dairy intolerance and eases others, New Zealand research has suggested.Sold mostly in Australia, New Zealand, China,... [...]

By | October 22nd, 2017|Categories: Business|0 Comments

Riding in a nine-hour-old Dreamliner across the Pacific on a ferry flight

Qantas has joined the Dreamliner club and took delivery of its first plane last Tuesday from Boeing at its Everett wide-body manufacturing base near Seattle. It was then flown to Sydney via Honolulu. Here's a [...]

By | October 22nd, 2017|Categories: Business|0 Comments

Ship stopped from NZ Waters

A ship found to be carrying moths has been stopped from entering New Zealand waters.The ANL Warragul was expected to arrive in the Port of Tauranga early today after leaving Sydney but was stopped after [...]

By | October 22nd, 2017|Categories: Business|0 Comments

What we can learn from the failure of Crystal Pepsi

We tend to think that innovation is driven by new discoveries or advances in technology. Yet the problem with new products is often not an engineering challenge, but a psychological one.In fact, it seems to [...]

By | October 22nd, 2017|Categories: Business|0 Comments

Airline passengers not impressed by cabin crew holding a bizarre 'moaning' contest

They usually strive to please passengers. But a team of AirAsia cabin crew decided to ditch their professionalism in favour of a bizarre plane prank, instead.Footage shows staff taking part in a strange 'moaning' competition [...]

By | October 22nd, 2017|Categories: Business|0 Comments

Eleven solutions to the housing shortage

This is a story about housing supply and how we can get more of it. It's not about the increased cost of housing or the difficulty young people face getting their first home. It's about [...]

By | October 21st, 2017|Categories: Business|0 Comments

Yours for $8m-plus: Unfinished Takapuna home

A partly-built Auckland waterfront home once at the centre of litigation which stopped development work on the exclusive site facing Rangitoto is on the market for $8 million-plus.The property on Takapuna's leafy, upmarket, quiet... Source: [...]

By | October 21st, 2017|Categories: Business|0 Comments

Diana Clement: It's all in contract, read it!

Man, woman and money are easily parted. The organisations that rule on our disputes with banks, insurance companies, financial providers, ACC, telcos and power companies hear similar sad stories over and over again.By not understanding... [...]

By | October 21st, 2017|Categories: Business|0 Comments

Liam Dann: Housing is the new Government's biggest challenge

"Dad there's a stranger at the door." At our house this usually means religious types or sales people trying to get me to switch power companies.I'm not sure which I find more annoying, but last [...]

By | October 21st, 2017|Categories: Business|0 Comments

Herald on Sunday editorial: A slew of solutions for our housing woes. Which suits you?

So-called Nimbys should look away now. As our feature on the housing shortage explains, there are many ways to provide more homes for our rising population but not all of them will be universally popular. [...]

By | October 21st, 2017|Categories: Business|0 Comments

Woman's Facebook rant closes her mum's cafe

When a coffee shop owner's 23-year-old daughter went on a Facebook rant about police officers late last week, little did she realise it would ruin her beloved business forever.Kato Mele, the owner of the White [...]

By | October 21st, 2017|Categories: Business|0 Comments

iPhone 8 and 8 Plus orders slashed by nearly 50 per cent for the rest of the year

Apple shares fell 2.4 per cent on Thursday following reports out of Taiwan that the tech giant has slashed orders for the iPhone 8 and 8 Plus by nearly 50 per cent for the rest [...]

By | October 21st, 2017|Categories: Business|0 Comments

Anti-trust watchdog searches BMW's headquarters

BMW's headquarters in Munich has been raided by the EU as it looks for evidence the car giant was part of a cartel with its German peers.Investigators from the EU anti-trust watchdog searched the company's [...]

By | October 21st, 2017|Categories: Business|0 Comments

Natural disasters will cost insurers $136bn this year, says Swiss Re

Recent catastrophes such as hurricanes in the Caribbean and an earthquake in Mexico will cost the global insurance industry around US$95bn ($136bn), Swiss Re has said, although it admitted that the estimates "are subject to [...]

By | October 21st, 2017|Categories: Business|0 Comments

Sour grapes: Man sues airline for serving him sparkling wine instead of champagne

A Canadian man has launched a class-action lawsuit against a low-cost airline for serving sparkling wine instead of champagne.Daniel Macduff was looking forward to the complimentary glass of champagne on board his Sunwing flight... Source: [...]

By | October 21st, 2017|Categories: Business|0 Comments

Foreigner land sale ban could hurt economy:finance expert

Clamping down on property and farm sales to foreign buyers would hurt New Zealand's economy, says one expert.Labour and New Zealand First have agreed to restrict sales of residential land and farmland to citizens, permanent [...]

By | October 20th, 2017|Categories: Business|0 Comments

Fran O'Sullivan: Ardern, Robertson need to reassure business

Jacinda Ardern and Grant Robertson must move swiftly to stamp their authority on the new Labour-New Zealand First coalition Government and take business with them.Yesterday, Ardern asserted that she would run a "very productive... Source: [...]

By | October 20th, 2017|Categories: Business|0 Comments

Mary Holm: Your call – Risky ride, or no ride at all

Q: I was interested to learn at a recent seminar you ran that I will not necessarily lose all my money if my KiwiSaver provider goes bust - that is, there is an independent body [...]

By | October 20th, 2017|Categories: Business|0 Comments

Revealed: Police haul of assets from corrupt contractor

A mortgage-free property portfolio worth at least $4 million, bank accounts containing hundreds of thousands of dollars, and a classic 1963 Ford Fairlane are among assets of a corrupt roading contractor seized by police.The haul... [...]

By | October 20th, 2017|Categories: Business|0 Comments

Michelle Dickinson: Learning the language of innovation

Imagine travelling to a foreign country without having to worry about communicating in a different language. This may soon be a possibility thanks to Google's new wireless headphones, which have the power to translate between [...]

By | October 20th, 2017|Categories: Business|0 Comments

KFC Twitter account just sent social media into meltdown

People on Twitter are calling for the person who runs the KFC Twitter account to get a raise. After reading this post you may agree with them.Twitter user @edgett22 posted a tweet today that has [...]

By | October 20th, 2017|Categories: Business|0 Comments

Sausages and Sauvignon Blanc: What we eat at Labour Weekend

Booze and barbecue food is top of Kiwis' shopping lists this Labour Weekend, as the country makes the most of the last three-day break before Christmas.Last year Countdown supermarkets sold more than 51,000 sausages over [...]

By | October 20th, 2017|Categories: Business|0 Comments

Liam Dann: No 'new Government hangover'

There's always a morning after, when left-leaning governments take power. The world of business and financial markets is seldom enamoured with such results. But my hangovers usually last longer than this one.The New Zealand... Source: [...]

By | October 20th, 2017|Categories: Business|0 Comments

New Government could cut immigration numbers 'overnight'

The new Labour-led Government could slash immigration numbers "overnight" once it takes power, says former Immigration Minister Tuariki Delamere.With net migration at 71,000 in the year to September, Prime Minister-in-waiting Jacinda... Source: NZ Herald Business [...]

By | October 20th, 2017|Categories: Business|0 Comments

First Qantas Dreamliner touches down in Sydney

Qantas' first Boeing 787-9 touched down in Sydney today after a low-level swoop down the city's harbour trailed by helicopters shooting footage of the plane.The plane, VH-ZNA, was greeted by more than 1000 staff, politicians [...]

By | October 19th, 2017|Categories: Business|0 Comments

From NZ to the US – giant market drives Kiwi tech surge

New Zealand's information and communications companies are driving the country's surging technology economy as it cuts swathes through the lucrative US market.According to the latest Technology Industry Network (TIN) report - out... Source: NZ Herald [...]

By | October 19th, 2017|Categories: Business|0 Comments

What business wants to know from Peters and Ardern

The new Government needs to quickly reveal policy detail on immigration, trade, industrial relations and foreign ownership, says BusinessNZ.Winston Peters, in announcing NZ First's intention to enter into a coalition with Labour... Source: NZ Herald [...]

By | October 19th, 2017|Categories: Business|0 Comments

Brian Fallow: Keeping the politicians honest

Voters would be better informed, and Government-forming negotiations made easier, if we had an agency charged with providing impartial, independent costings of the policies parties put before us at election time.It is too easy,... Source: [...]

By | October 19th, 2017|Categories: Business|0 Comments

'Why so much rubbish?': Curly questions at Sky AGM

Although it was a largely subdued annual general meeting, Sky TV bosses were faced with a couple of curly questions from shareholders and customers this afternoon.One woman suggested Sky focus more on quality than quantity [...]

By | October 19th, 2017|Categories: Business|0 Comments

NZX 50 charts new record

New Zealand shares rose, nudging the S&P/NZX 50 Index to a new record, as Comvita continued to benefit from yesterday's earnings upgrade and Port of Tauranga said first-quarter volumes pointed to stronger annual profit in [...]

By | October 19th, 2017|Categories: Business|0 Comments

PwC Herald Talks: The internet of things

Stores where customers can walk in, take an item off the shelf and be charged for it without having to go through the checkout will be "everywhere" in the next five years, says an expert.Amazon [...]

By | October 19th, 2017|Categories: Business|0 Comments

NZ dollar plunges waiting on Winston Peters

The New Zealand dollar dropped about half a US cent in the space of just a few minutes as markets awaited the outcome of talks to form a new government.Just after 5pm, the Kiwi went [...]

By | October 19th, 2017|Categories: Business|0 Comments

Fine food, bubbles to farewell furniture icon who made his fortune selling waterbeds in hippie era

It will be a funeral of "epic" proportions, but Jan Baker says she wouldn't have it any other way for her formidable yet loyal husband of 25 years.Baker's death notice for husband and Furniture City [...]

By | October 19th, 2017|Categories: Business|0 Comments

NZ commodity exports seen rising 9.2% in 2018

New Zealand's primary sector exports are expected to rise 9.2 per cent in the year to June 30, 2018, according to the latest Situation and Outlook for Primary Industries, little changed from the assessment in [...]

By | October 19th, 2017|Categories: Business|0 Comments

New $70m village and 1.1km road being built at Long Bay

A new $70 million town centre and 1.1km road are being built by the country's largest housing land developer on Auckland's northern outskirts.Evan Davies, Todd Property managing director, said the town and road were now [...]

By | October 18th, 2017|Categories: Business|0 Comments

Bank manager charged with taking more than $130,000

A Napier bank manager has been charged with taking almost $135,000 from her bank over a five and a half year period.ANZ Napier branch manager Fiona Barber, 50, appeared in the Napier District Court yesterday [...]

By | October 18th, 2017|Categories: Business|0 Comments

Editorial: Vital we remember lessons of 1987 crash

The past is a foreign country, wrote novelist L. P. Hartley.Thats been all too clear looking back at New Zealand in 1987, as the Herald has this week to mark the 30th anniversary of the [...]

By | October 18th, 2017|Categories: Business|0 Comments

Banks downgrade farmgate milk price forecasts after drop at auction

The continued softening of prices at the latest Global Dairy Trade auction has cast doubt on Fonterra's farmgate milk price forecast.Some economists are expecting further falls as production ramps up in Europe and uncertainty clouds... [...]

By | October 18th, 2017|Categories: Business|0 Comments

Shell director resigns amid Rio Tinto fraud allegations

A director of Shell has resigned after being charged with fraud in relation to his former job at global miner Rio Tinto.Guy Elliott said he would step down from his non-executive director role at Shell [...]

By | October 18th, 2017|Categories: Business|0 Comments

NZ shares rise, buoyed by international interest

New Zealand shares rose as interest from international investors pushed the benchmark higher for another day, with Synlait Milk and Comvita advancing while Sky Network Television gave up gains.The S&P/NZX50 increased 2.97 points,... Source: NZ [...]

By | October 18th, 2017|Categories: Business|0 Comments

NZ dollar falls as markets wait to see which parties will govern

The New Zealand dollar fell while remaining in a narrow trading range as the market waits to find out which parties will form the country's next government.The kiwi dollar was trading at 71.59 US cents [...]

By | October 18th, 2017|Categories: Business|0 Comments

Employment Relations Authority awards unfairly dismissed IT worker $40k

A IT worker who was dismissed after complaints from clients has been awarded more than $40,000.An Employment Relations Authority (ERA) decision released today shows the man faced complaints about his attitude when working as a [...]

By | October 18th, 2017|Categories: Business|0 Comments

Cooking the Books podcast: Why a capital gains tax would be a good thing

Each week the New Zealand Herald and Newstalk ZB's Cooking The Books podcast tackles a different money problem. Today, it's what a capital gains tax would mean for the average person. Hosted by Frances Cook. [...]

By | October 18th, 2017|Categories: Business|0 Comments

Investor and TV pundit Marc Faber thanks God that 'white people populated America'

Veteran Swiss investor and television commentator Marc Faber faced backlash Tuesday for comments in a newsletter thanking God that "white people populated America, and not the blacks."CNBC and Fox Business Network said they will... Source: [...]

By | October 18th, 2017|Categories: Business|0 Comments

Kiwi dads aren't taking parental leave owed to them

A recent survey has found new Dads aren't taking parental leave owed to them - believing there's stigma attached to taking time off work.A Hays recruitment survey has found more than half the men who [...]

By | October 17th, 2017|Categories: Business|0 Comments

Soaring Kiwi tech sector tops $10b of revenue: report

New Zealand's top 200 technology companies have for the first time topped $10 billion in combined revenue as the industry continues to see strong growth, according to a new report.It comes on the back of [...]

By | October 17th, 2017|Categories: Business|0 Comments

Dairy product prices slide amid confidence in outlook for supply

Dairy product prices fell at the Global Dairy Trade auction, declining for the sixth time in nine auctions, amid bets on sufficient supply. The GDT price index fell 1 per cent from the previous auction [...]

By | October 17th, 2017|Categories: Business|0 Comments

FMA fast-tracks personalised robo-advice with exemption

The Financial Markets Authority will let Kiwis access personalised automated financial advice, known as robo-advice, with an exemption kicking in before a legislative overhaul of the sector. The market watchdog sought feedback on... Source: NZ [...]

By | October 17th, 2017|Categories: Business|0 Comments

Mexican governor took New Zealand cows meant for farmers

A Mexican anti-corruption nonprofit says that most of a shipment of New Zealand cows destined for small ranchers in Chihuahua state instead wound up on the ranch of the then-governor.The group says documents that include [...]

By | October 17th, 2017|Categories: Business|0 Comments

Mark Fowler: Political backdrop driving financial narrative

I've highlighted in some of my earlier columns a belief that with the domestic economy remaining steady, some near term headwinds are likely to mean our economy's growth will hold above potential.While there's definite cause [...]

By | October 17th, 2017|Categories: Business|0 Comments

NZ shares rise as Restaurant Brands, A2 gain

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. The S&P/NZX50 Index gained 21.32 points, or [...]

By | October 17th, 2017|Categories: Business|0 Comments

Cadbury move to Australia leaves bad taste in Dunedin

The move of Cadbury production to Australia has left a bad taste in the city, says a Dunedin MP.Parent company Modelez today said it will move production to Australia after bids to find a local [...]

By | October 17th, 2017|Categories: Business|0 Comments

NZ dollar pares CPI gains as greenback rises

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. The kiwi was trading at 71.64 US cents as at 5pm versus [...]

By | October 17th, 2017|Categories: Business|0 Comments

Share clubs and black humour – Roger Hall remembers the crash

Playwright Roger Hall recalls taking a hit in the 1987 crash. But he also managed to write a hit play about his experiences in a share club."I belonged to a neighbourhood share club and we [...]

By | October 17th, 2017|Categories: Business|0 Comments

Potential contenders for prime retail spot on Auckland's Queen Street

With retail going through uncertain times, its unknown when or which brand could snap up the prime retail location on Auckland's Queen Street.First Retail Group managing director Chris Wilkinson said it could be any big [...]

By | October 16th, 2017|Categories: Business|0 Comments

New Zealand retailers under threat from 'mega-players' such as Amazon, industry experts say

Retail veteran and Golf Warehouse boss Eric Faesenkloet says he will open a warehouse in Australia as the threat of Amazon looms.Faesenkloet, who has owned and operated Golf Warehouse stores across New Zealand for 40 [...]

By | October 16th, 2017|Categories: Business|0 Comments

House values to jump as Auckland Council publishes new RV

More than half a million homes in Auckland are expected to see a jump in value - potentially by as much as 50 per cent - when rating valuations are released next month. With the [...]

By | October 16th, 2017|Categories: Business|0 Comments

Twelve Questions with Ian Short, former Lehman Brothers investment banker

Former Lehman Brothers investment banker Ian Short helped lead East London's redevelopment for the Olympics and Europe's shift to a low-emission economy. He's come home to show New Zealand how a joined-up "systems approach" is [...]

By | October 16th, 2017|Categories: Business|0 Comments

Jo Coughlan: Language week builds bridges to China

• Jo Coughlan is co-chair New Zealand Chinese Language week and managing director of public relations company Silvereye. The popular Lantern Festivals are one way we strengthen our growing cultural ties with China. This week... [...]

By | October 16th, 2017|Categories: Business|0 Comments

Microsoft builds epic tree house office space for employees

From Apple's new spaceship headquarters to Google's massage rooms, nap pods and on-site doctor, day-to-day life can be pretty sweet working for some of the world's most recognisable companies.And Microsoft has arguably outdone them... Source: [...]

By | October 16th, 2017|Categories: Business|0 Comments

Judge gets Facebook primer in media merger hearing

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.The [...]

By | October 16th, 2017|Categories: Business|0 Comments

Fonterra's Anchor claims NZ's 6th biggest export spot

Fonterra's foodservice business - Anchor Food Professionals - has laid claim to being New Zealand's sixth biggest exporter in its own right.With $2 billion in revenue - up 70 per cent from four years ago [...]

By | October 16th, 2017|Categories: Business|0 Comments

NZ shares mixed as blue-chips buoy broader market

New Zealand shares edged higher as blue-chip stocks including New Zealand Refining, Fletcher Building, and Spark New Zealand helped buoy the market, offsetting declines from half the benchmark index. The S&P/NZX 50 index increased... Source: [...]

By | October 16th, 2017|Categories: Business|0 Comments

NZ dollar holds gains against greenback

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. The kiwi was trading at 71.72 [...]

By | October 16th, 2017|Categories: Business|0 Comments

Taitokerau Forests put to rest but success lives on

A Maori development company with a one-off, 30-year forest rotation under its belt is basking in outstanding success but shutting up shop at the same time.On Friday, Taitokerau Forest Ltd (TFL) directors released a mission-accomplished... [...]

By | October 15th, 2017|Categories: Business|0 Comments

Chinese speaking staff increasingly an asset

Mandarin speaking staff are increasingly an asset to business as tourists from the country continue to flock to our shores.In recent years, Chinese tourists have shifted from group package tours toward independent travel which has... [...]

By | October 15th, 2017|Categories: Business|0 Comments

AirAsia flight forced to turn back to Perth after terrifying midair emergency

Passengers on board an AirAsia flight from Perth to Bali feared for the lives after the aircraft plunged 20,000 feet in a midair emergency.Flight QZ535 was forced to turn back to Perth Airport yesterday morning, [...]

By | October 15th, 2017|Categories: Business|0 Comments

Low interest NZ rates, low inflation likely to remain

Low interest rates look likely to remain for some time yet if this week's third quarter consumers price data continues to point to subdued inflation, as economists expect.Tuesday's release from Statistics NZ is expected to [...]

By | October 15th, 2017|Categories: Business|0 Comments

New government will have to make a call on Hercules replacement

An early job for the new government will be to make a call on what it wants from a replacement to New Zealand's ageing fleet of Hercules aircraft.The 52-year-old aircraft are nearing the end of [...]

By | October 15th, 2017|Categories: Business|0 Comments

PornHub malware: Work devices could be compromised

An industry expert says the PornHub malware "definitely" could affect New Zealand businesses. Tom Moore of Aura Information Security said there are no borders on the internet, and hackers are becoming more advanced in their [...]

By | October 15th, 2017|Categories: Business|0 Comments

The International Monetary Fund has severe concerns for Venezuela

The International Monetary Fund has severe concerns for struggling Venezuela. The International Monetary Fund has expressed grave concerns over Venezuela's unending political crisis, warning it sees "no end" to the economic downturn... Source: NZ Herald [...]

By | October 15th, 2017|Categories: Business|0 Comments

Comment: Getting the best for New Zealand

When it comes to courting investment from Asia - or anywhere else - we should be aiming to get the best, not the most. When foreign investors take up a substantial stake in a New [...]

By | October 15th, 2017|Categories: Business|0 Comments

Remembering the Crash: NZ life in 1987

In 1987 New Zealand was surfing a wave of national pride off the back of a spirited (and only narrowly unsuccessful) bid for the America's Cup and a win in the inaugural Rugby World Cup. [...]

By | October 15th, 2017|Categories: Business|0 Comments

Rickety Ponsonby shack up for auction

Jutting out above a small concrete wall lined with paua shells on Summer St is a weather-worn shack, that at less than $1m could be the lucky break for an aspiring Ponsonby homeowner. The rickety [...]

By | October 14th, 2017|Categories: Business|0 Comments

Liam Dann: How the 1987 crash changed my life

In 1987 I did not care about the stock market crash. I don't recall where I was when it happened. By late October I probably should have been studying for School Certificate exams. Although I [...]

By | October 14th, 2017|Categories: Business|0 Comments

Green, portable coffee gadgets a hit with Kiwis

Caffeine lovers who need their fix anywhere, anytime may have found the answer - a portable coffee maker that fits inside a handbag.The $99 portable MiniPresso NS coffee press first arived in New Zealand late [...]

By | October 14th, 2017|Categories: Business|0 Comments

Diana Clement: How to keep your debts down

Borrowing money is simple. Unless you're up to your eyeballs in debt or your credit score is shot to pieces then getting HP or a personal loan is effortless. Lenders fall over themselves to hand [...]

By | October 14th, 2017|Categories: Business|0 Comments

New online tool on way to manage loans between friends and family

A new online loan management tool will launch in New Zealand this month, but questions have been asked about the level of protection for users.Credi.com started in Australia in April and provides the online process [...]

By | October 14th, 2017|Categories: Business|0 Comments

Nationwide potato shortage caused by bad weather, costs farmers millions

If you're planning on tucking into potato crisps this weekend make sure you savour them.In news set to upset many chip connoisseurs, stocks of the crunchy delights are stretched as New Zealand battles a nationwide [...]

By | October 14th, 2017|Categories: Business|0 Comments

$1 cleaner one of the best performers

If you're spending big on household cleaners, this could be a reason not to. A $1 Necessities brand cleaner from The Warehouse proved to be one of the best performers in a recent test by [...]

By | October 14th, 2017|Categories: Business|0 Comments

The money wasters costing Australian households more than $5000 a year

Aussie households are wasting more than $5000 per year on avoidable spending, including bank fees, credit card interest charges, ATM fees and wasted food.The worst off are those who smoke or gamble, with households wasting [...]

By | October 14th, 2017|Categories: Business|0 Comments

Is Friday 13th a disaster for business?

Over the last five years, the FTSE 100 has closed lower on seven of the 10 Friday 13ths.It could be a coincidence - or is there something else at play?On Friday 13th July 2012, China's [...]

By | October 14th, 2017|Categories: Business|0 Comments

Aussie surf trip spawns billion dollar idea

He was trying his luck experimenting with entrepreneurial ideas, with the hopes to start a surf-focused company that was successful enough to provide him a humble living by the age of 30.There was still four [...]

By | October 13th, 2017|Categories: Business|0 Comments

Port of Napier appoints new chief executive

Napier Port has appointed a new chief executive to take over from long-standing Garth Cowie who announced his retirement earlier this year.Auckland's Todd Dawson, who has spent the last five years at Kotahi Logistics (a [...]

By | October 13th, 2017|Categories: Business|0 Comments

The 1987 crash – could it happen again?

"We've come a long way," says NZX chief executive Mark Peterson as he considers the state of New Zealand's stock exchange on the eve of the 30th anniversary of the 1987 crash."The broker model has [...]

By | October 13th, 2017|Categories: Business|0 Comments

Online marketplace for legal profession launched

High-profile lawyer Mai Chen has today launched an "online marketplace" for the legal profession.The site, MyAdvice.Legal, is a hub where people in need of legal assistance can find the most suitable lawyer for them through [...]

By | October 13th, 2017|Categories: Business|0 Comments

John Key's man gets consent for new home on tennis court

It could be game, set and match to former Prime Minister Sir John Key.In September the Weekend Herald reported that the Key family had sold their St Stephens Ave mansion, but were planning to keep [...]

By | October 13th, 2017|Categories: Business|0 Comments

Fran O'Sullivan: Lest haste towards a deal with NZ First

New Zealand's free market economy is what is really at stake in the post-election negotiations to form the new Government.The extent of NZ's openness to the world, immigration and trade have all been on the [...]

By | October 13th, 2017|Categories: Business|0 Comments

The man behind 'that' 1987 crash photo

It's the photo that summed up the panic on black Tuesday, October 20th 1987. Young trader Philip Solarz stares anxiously up at the chalkboard at the Auckland exchange, with a phone in each ear.Just 21 [...]

By | October 13th, 2017|Categories: Business|0 Comments

Amazon Studios top executive Roy Price suspended over sexual harassment claims

"You will love my d***".An Amazon executive has reportedly been suspended after a lesbian producer of one of Amazon Studio's top-rating shows outlined shocking allegations of sexual harassment against him at a high-end hotel.It... Source: [...]

By | October 13th, 2017|Categories: Business|0 Comments

Queen of the Skies making slowly making way for Qantas' new planes

Qantas is about to take delivery of the first of its new Dreamliners, allowing the airline to keep phasing out an old favourite - the jumbo jet.The oldest of the airline's Boeing 747s has recently [...]

By | October 13th, 2017|Categories: Business|0 Comments

Here's one way to get out of paying wheel clamper's steep fees

Fed-up motorists being asked to pay hundreds of dollars to have wheel clamps removed may not be as powerless as they believe.They could take their cue from one angry woman, who cut a clamp off [...]

By | October 13th, 2017|Categories: Business|0 Comments

Risks to business from staff accessing PornHub on work devices

Millions of visitors to PornHub risk exposure to malware and Kiwi bosses will be hoping none of their staff inadvertently infected their company network by visiting the adult website on their work phone or laptop.As [...]

By | October 13th, 2017|Categories: Business|0 Comments

Brian Fallow: Rising sea level will cost us all

One challenge awaiting the next Government is how to address - and especially, how to fund - the need to adapt to climate change.A timely paper on this by Jonathan Boston, professor of public policy [...]

By | October 12th, 2017|Categories: Business|0 Comments

Bayfair confirms $100m expansion: Cinema + 50 new shops:

Tauranga shopping mall Bayfair has confirmed its long-rumoured expansion, revealing plans for a $100 million upgrade including 50 new shops and a seven-screen cinema complex. The 30-year-old shopping centre, owned by AMP Capital,... Source: NZ [...]

By | October 12th, 2017|Categories: Business|0 Comments

IMF head Lagarde warns of rising risks to global economy

The head of the International Monetary Fund says a number of threats could derail the global economic recovery. That's despite signs that 2017 will be the best year of the decade.IMF Managing Director Christine Lagarde [...]

By | October 12th, 2017|Categories: Business|0 Comments

Bitcoin mania takes off as cryptocurrency surges past US$5000

Bitcoin bubble or just the beginning? Or both? Those are the questions being asked on Wall Street to Main Street after the digital currency breached US$5000 for the first time, pushing this year's gains to [...]

By | October 12th, 2017|Categories: Business|0 Comments

Gene Marks: In North Korea, entrepreneurism continues to thrive

The rising threat of war. An uncertain government. A challenging economic environment. People are used to that in the United States. Business people in North Korea also have all those challenges, and then some. But [...]

By | October 12th, 2017|Categories: Business|0 Comments

Emirates looks at add-on fees as life gets tougher

Emirates boss Sir Tim Clark is searching for new ways for the airline to thrive - including more add-on charges - as the aviation industry becomes harder to forecast.He's been there since the start of [...]

By | October 12th, 2017|Categories: Business|0 Comments

Herald Focus: Can psychometric tests tell us anything?

Psychometric testing in the workplace has been called 'absurd' by a union, but do they deserve such a harsh reception?Inland Revenue has put the brakes on using results from the testing in a proposed restructure [...]

By | October 12th, 2017|Categories: Business|0 Comments

NZ shares rise as Synlait hits new record

New Zealand shares rose as overseas investors continue to chase export-orientated growth stocks, with Synlait Milk and Xero extending gains while taking booking profits from Fisher & Paykel Healthcare's recent rally. The S&P/NZX50... Source: NZ [...]

By | October 12th, 2017|Categories: Business|0 Comments

NZ dollar holds gains as new government awaited

The New Zealand held on to earlier gains through the local trading session as minutes to the last US Federal Reserve policy review raised questions about the pace of future interest rate hikes, and as [...]

By | October 12th, 2017|Categories: Business|0 Comments

Scott Technology lifts annual profit 26 per cent

Scott Technology boosted annual profit 26 per cent as the growing demand for productivity gains through automation and robotics stoked demand for the manufacturer's industrial systems. Net profit rose to $10.3 million in the 12... [...]

By | October 12th, 2017|Categories: Business|0 Comments

Unpaid wages claim: Protesters gather outside Auckland bottle store

About 25 protesters have gathered outside an Auckland bottle store to support a man who says he is owed $80,000 in unpaid wages.The man, Manjinder Singh, 23, says he was paid to work 30 hours [...]

By | October 11th, 2017|Categories: Business|0 Comments

Affording a home in Hawke's Bay gets tougher

Getting that first step on the property ladder keeps getting harder as median house prices in Hawke's Bay continue to rise.The latest Massey University Home Affordability Report revealed that Hawke's Bay had a 28.6 per [...]

By | October 11th, 2017|Categories: Business|0 Comments

Mark Zuckerberg sorry for virtual tour of devastated Puerto Rico

Facebook chief executive Mark Zuckerberg apologised after drawing criticism for live-streaming a video of him taking a virtual reality tour of hurricane-ravaged Puerto Rico to promote a new Facebook feature.The promotion showed... Source: NZ Herald [...]

By | October 11th, 2017|Categories: Business|0 Comments

Land sale could bring 55 new sections to the Rotorua market

A 6.9 hectare block of Rotorua land is up for sale, which could bring 55 new sections to the market.The block off Great West Rd is next to the Baxendale subdivision - in which 24 [...]

By | October 11th, 2017|Categories: Business|0 Comments

Emirates boss says continued support for Team NZ a 'no brainer'

Emirates is pulling back from flying some routes out of this country but says it remains committed to Team New Zealand.Airline president Sir Tim Clark said the it was a "no brainer" to continue sponsorship [...]

By | October 11th, 2017|Categories: Business|0 Comments

Problem hanging over iPhone 8 ahead of X release

With the much anticipated release of the iPhone X just weeks away, Apple has yet to publicly diagnose an issue with its iPhone 8, with some users reporting the device is splitting open when charging.Late [...]

By | October 11th, 2017|Categories: Business|0 Comments

NZ shares rise as growth stocks A2, Xero, extend gains

New Zealand shares rose as the export-orientated growth stocks A2 Milk and Xero extended recent gains, while insurer CBL Corp declined.The S&P/NZX50 Index increased 23.17 points, or 0.3 per cent, to 8,060.98, another record close.... [...]

By | October 11th, 2017|Categories: Business|0 Comments

NZ dollar little changed on NZ First decision delay

The New Zealand dollar was little changed, trading in a narrow range after the NZ First Party delayed its decision on who will lead the next government, while the prospect of rising US interest rates [...]

By | October 11th, 2017|Categories: Business|0 Comments

Businessman admits to running Ponzi scheme

A Christchurch businessman has admitted running a Ponzi scheme.Paul Clifford Hibbs owned and ran two companies - one called Hansa and another called Cameron Gladstone Investments - and through them provided false reports to investors.... [...]

By | October 11th, 2017|Categories: Business|0 Comments

Electrocution, amputation at $300m Christchurch Justice Precinct work site

Sliced and amputated fingers, loads dropped from cranes, and electrocution are just some of the 14 accidentsbrought before WorkSafe from Christchurch's Justice Precinct project.The $300 million precinct opened three weeks ago after... Source: NZ Herald [...]

By | October 10th, 2017|Categories: Business|0 Comments

Housing doubts closing wallets

Consumers spent less at the shops last month than expected and retailers are worried that a continued slowdown in the housing market will keep Kiwis' wallets closed.Spending on credit and debit cards was flat in [...]

By | October 10th, 2017|Categories: Business|0 Comments

Fran O'Sullivan: Winston Peters wish list has sensitive topics

Winston Peters is now into the third day of a Dutch auction as he weighs competing bids from Bill English and Jacinda Ardern to form the next Government.Peters has put overseas investment, the NZ currency [...]

By | October 10th, 2017|Categories: Business|0 Comments

Juha Saarinen: Disaster turned experiment lab

Puerto Rico and the US Virgin Islands are still a mess after Hurricane Maria, with the official rescue and recovery efforts being criticised for being slow to bring basics like food, water, power and fuel [...]

By | October 10th, 2017|Categories: Business|0 Comments

NZX50 at new high as A2 hits fresh record

New Zealand's benchmark stock index rose to a new record as investors latched on to companies with strong growth outlooks including A2 Milk Co, Xero and Fisher & Paykel Healthcare. Z Energy and Fletcher Building [...]

By | October 10th, 2017|Categories: Business|0 Comments

Controversial application to pull millions of litres a day from Blue Spring withdrawn

The company behind a controversial application to take 6.9 million litres of water a day from Putaruru's Blue Spring to send offshore has withdrawn its application.NZ Pure Blue Springs Ltd told the Waikato Regional Council [...]

By | October 10th, 2017|Categories: Business|0 Comments

Kiwi holds below 71 US cents as election outcome uncertain

The New Zealand dollar is holding below 71 US cents as traders eye the Thursday deadline NZ First leader Winston Peters has given himself to pick which party he'll support to govern the country. The [...]

By | October 10th, 2017|Categories: Business|0 Comments

American Airlines to overhaul fleet with WiFi, new seats

It is already one of the world's leading commercial carriers.But, because the competition never lets up, American Airlines has announced a large-scale overhaul for its fleet - which, it claims, will see passengers enjoy greater... [...]

By | October 10th, 2017|Categories: Business|0 Comments

California's famed wine country hit by wildfires

Workers in Northern California's renowned wine country picked through charred debris and plotted what to do with pricey grapes after wildfires swept through lush vineyards, destroying at least two wineries and damaging many others.The... Source: [...]

By | October 10th, 2017|Categories: Business|0 Comments

1000 properties sold by Hastings Property Brokers real estate team

When the hammer came down at a Property Brokers auction last week, there was more than just a good sale to celebrate. A two-bedroom Havelock North unit became the thousandth property sold by team Jason [...]

By | October 9th, 2017|Categories: Business|0 Comments

Queenstown property values double in three years

Queenstown Lakes is now a $32 billion district. The Queenstown Lakes District Council yesterday released figures from the most recent revaluation of all properties in the area, carried out on July 1 by Quotable Value.They [...]

By | October 9th, 2017|Categories: Business|0 Comments

Union takes IRD to court over personality testing

The Public Service Association is taking the Inland Revenue to the employment court over its plans to use psychometric tests on employees reapplying for their jobs.The Inland Revenue is planning to cut the number of [...]

By | October 9th, 2017|Categories: Business|0 Comments

Fraud victims return to Hawke's Bay, find last of belongings stolen

Nearly a decade since leaving Hawke's Bay, fraud victims have returned to find the last of the belongings from their old life stolen. Former Hastings residents John and SuellenGifford moved back to the region earlier [...]

By | October 9th, 2017|Categories: Business|0 Comments

Ride-sharing company Uber drives into Tauranga market

Tauranga is set to be the fourth city in New Zealand where ride-sharing company Uber is available. Uber plans to bring its service to Tauranga "as soon as possible" and has started its driver-partner sign-up [...]

By | October 9th, 2017|Categories: Business|0 Comments

NZX50 cracks 8,000, led by market darlings A2, Xero

New Zealand shares rose, with the benchmark index surpassing 8,000 for the first time, led higher by export-orientated, investor favourites A2 Milk Co and Xero.The S&P/NZX 50 Index gained 32.94 points, or 0.4 per cent, [...]

By | October 9th, 2017|Categories: Business|0 Comments

Kiwi dollar falls further as coalition talks continue

The New Zealand dollar dipped to a five-month low today as electoral coalition talks continued in Wellington.The kiwi currency has fallen from US73.28c on Friday before the election to close at US70.75 at 5pm today.Political [...]

By | October 9th, 2017|Categories: Business|0 Comments

Michael Hill lifts first-quarter sales by 7.8%

Michael Hill International, the jewellery retailer founded by its namesake, lifted sales 7.8 per cent in the first quarter as its performance in New Zealand, Australia, and Canada continued to improve, making up for a [...]

By | October 9th, 2017|Categories: Business|0 Comments

Up to 20,000 overseas builders expected to apply for NZ jobs

An attempt to lure overseas builders to New Zealand launches in the United Kingdom today is expected to attract up to 20,000 applicants.A group of private companies and public organisations, including Auckland Transport, are behind... [...]

By | October 9th, 2017|Categories: Business|0 Comments

ComCom receives complaint about 2 Cheap Cars' vouchers-for-reviews offer

The Commerce Commission has received a complaint about 2 Cheap Cars offering supermarket vouchers in exchange for five-star reviews on Google. The commission said they have not yet assessed the complaint, but it brings the [...]

By | October 9th, 2017|Categories: Business|0 Comments

Amazon off the cards for responsible investor

Tobacco, coal and gambling are out and so is Amazon when it comes to a new responsible investment fund.Auckland based boutique fund manager Pathfinder has launched a Global Responsibility Fund and is taking a tough [...]

By | October 8th, 2017|Categories: Business|0 Comments

Conrad selling off-the-plan Auckland apartments for NZ residency

Overseas investors are being offered off-the-plan Auckland apartments in a new property-for-residency scheme.Conrad Funds Management is making the offer to investors seeking New Zealand residency and willing to buy a $750,000-plus... Source: NZ Herald Business [...]

By | October 8th, 2017|Categories: Business|0 Comments

Paul Glass: Executive remuneration – a runaway train?

Of all the shareholder governance issues, executive remuneration is the one that arouses the most passion but is often the hardest to evaluate or deal with. News that Fonterra's chief exececutive Theo Spierings received over [...]

By | October 8th, 2017|Categories: Business|0 Comments

Small Business: Blogger, former lawyer turns passion into full-time gig – She Said Yes

Journal creator and blogger Megan Hutchison, 28, left her job at a law firm to follow her passion. Fast forward three years, she now earns more than she ever did as a lawyer and has [...]

By | October 8th, 2017|Categories: Business|0 Comments

South Korea fixated with AI after Go defeat

No one has ever accused South Korea of lacking in national pride, so when Google's AlphaGo artificial intelligence (AI) soundly defeated its Go master Lee Se-dol at his own strategic board game, the nation sat [...]

By | October 8th, 2017|Categories: Business|0 Comments

Tourism Holdings' Airbnb of motor homes expanding in New Zealand

An Air BnB-style rental scheme for motor homes has grown by more than 120 per cent in the last year.Mighway, a sharing scheme enabling owners to generate income when not using their vehicles, now has [...]

By | October 8th, 2017|Categories: Business|0 Comments

Losses at Donald Trump's Scotland resorts doubled in the last year

Donald Trump boasts of making great deals, but a financial report filed with the British government shows he has lost millions of dollars for three years running on a couple of his more recent big [...]

By | October 8th, 2017|Categories: Business|0 Comments

The hidden costs of online shopping

Nabbing a bargain is part of the attraction of online shopping but some Kiwis are being stung with hefty tax bills for overseas purchases. The total charges totals tens of millions.In 2016 New Zealanders paid [...]

By | October 7th, 2017|Categories: Business|0 Comments

Diana Clement: Do banks pay when a hacker steals my savings?

A hacker just stole your savings. Does the bank have to reimburse you? The answer could well be "no".This is scary stuff for anyone with more than a few bucks in their bank accounts or [...]

By | October 7th, 2017|Categories: Business|0 Comments

Liam Dann: Enjoy the political vacuum while it lasts

The longer this political interregnum goes on the less I can remember what all the pre-election fuss was about. I recall there was excitement. There were debates where the words and body language of the [...]

By | October 7th, 2017|Categories: Business|0 Comments

Chelsea Sugar Factory's sweet deal for the public

Sugar factory to open its doors in $7m tourism venture, writes Kirsty Wynn. Its iconic pink buildings have been nestled on the harbour's edge for more than 130 years and soon the Chelsea Sugar Factory [...]

By | October 7th, 2017|Categories: Business|0 Comments

'Amazon effect' has spooked local retailers, according to report

Local retailers are being spooked by the "Amazon effect" according to research by Massey University on the Big Issues in Retail.A survey by the university found business confidence had fallen since 2016 and the global [...]

By | October 7th, 2017|Categories: Business|0 Comments

Is iOS 11 draining your iPhone battery?

If you're wondering if your iPhone's battery has been running out more quickly since you downloaded iOS 11, you're not alone.Researchers have found that the initial release of iOS 11 drains iPhone batteries more than [...]

By | October 7th, 2017|Categories: Business|0 Comments

The Interview: Jef Wong – From takeaway shop to top designer

Top designer tells Aimee Shaw he's in the best of careers - and it's fun too. There's a simple reason why Jef Wong has been at design firm Designworks for almost two decades - he's [...]

By | October 6th, 2017|Categories: Business|0 Comments

Prime $15m block for sale in St Heliers after divorce battle

A $15 million property in St Heliers is on the market as a long-running legal dispute over its sale draws to a close. The 8945sq m block on Waimarie Street, made up of nine sections, [...]

By | October 6th, 2017|Categories: Business|0 Comments

Wages no match for cost of housing

In Taranaki, pay increases have just about kept up with house prices. In Auckland, workers are far behind. Taranaki has come out tops as the region where the rate of wage growth has best kept [...]

By | October 6th, 2017|Categories: Business|0 Comments

Fran O'Sullivan: Winston's wants not so way out

Many of the changes that Peters has proposed could be workable, says Fran O'Sullivan. What does Winston want? It's the question that has occupied the negotiating teams for National and Labour, who had their first [...]

By | October 6th, 2017|Categories: Business|0 Comments

Brian Gaynor: Miner's end leaves taxpayers in a hole

The sale of Solid Energy's remaining operating coalmines terminates the Crown's 114-year involvement in the coal industry.The sale has been greeted positively by the company, with its press release noting that participating creditors... Source: NZ [...]

By | October 6th, 2017|Categories: Business|0 Comments

Dunkin' Donuts to eliminate third of its menu to 'simplify' the brand

Dunkin' Donuts has sparked a frenzy among its fans after revealing that it will remove 'close to a third' of its items off the donut menu in an attempt to 'simplify' the brand.The chain announced [...]

By | October 6th, 2017|Categories: Business|0 Comments

Nelson 'hose doctor' wins $30k ERA payout after unjustified dismissal from job

A Nelson "hose doctor" has won nearly $30,000 from an ex-employer that fired him after his boss saw the man's work van parked at his own workshop on several occasions during business hours.The Employment Relations [...]

By | October 6th, 2017|Categories: Business|0 Comments

Watch out for invoice scammers, police warn

Overseas scammers have been using forged invoices and fake email addresses to con businesses - and the police are telling businesses to watch out.The scam, which police first became aware of earlier in the year, [...]

By | October 6th, 2017|Categories: Business|0 Comments

Market Watch: Are New Zealand shares overheating?

Political uncertainty hasn't stopped the local sharemarket, which rose again today to hit a new record.But there is now a risk that local shares are overvalued, says PIE Funds head of research Mark Devcich.The NZX-50 [...]

By | October 6th, 2017|Categories: Business|0 Comments

First NZ Capital makes case for Summerset, Metlifecare merger

Merging retirement village operators Summerset Group and Metlifecare would put them on firmer ground in mounting a transtasman expansion as the domestic property market starts to fade, says First NZ Capital in a research note [...]

By | October 6th, 2017|Categories: Business|0 Comments

Demand for mystery shoppers rises as banks, shops want better service quality

The world of mystery shoppers has become less obscure to businesses in Hong Kong, which are increasingly turning to the shoppers to identify problems in order to raise service quality.Industry experts said a rising number [...]

By | October 5th, 2017|Categories: Business|0 Comments

When getting to work is a 2000km commute

Jeana Abbott has an Australian work phone number and a personal assistant in Sydney.But home - where she also works - is in Wellington.The education manager for Australasian accountancy body CAANZ is one of a [...]

By | October 5th, 2017|Categories: Business|0 Comments

Brian Fallow: Reviving the Trans-Pacific Partnership

Alan Bollard thinks it is a 50:50 question whether leaders at next month's Apec summit will sign off on a Trans-Pacific Partnership agreement which excludes the United States - the TPP11 - or will conclude [...]

By | October 5th, 2017|Categories: Business|0 Comments

Stock Takes: Xero hits $30 a share

ON A ROLL Xero shareholders should be feeling on a high after the company's share price rose to over $30 a share this week - the first time it has been back over that price [...]

By | October 5th, 2017|Categories: Business|0 Comments

More shippers, truckies up in arms over Napier Port charges

New charges from Napier Port have been slammed by the groups representing the country's shippers and truck drivers. The Napier Port will be imposing an insurance levy charge on users after their premiums skyrocketed due [...]

By | October 5th, 2017|Categories: Business|0 Comments

Trusted travellers avoiding border check-in trial scheme at Auckland

Some travellers are able avoid a layer of border checks at Auckland Airport in a trial aimed at speeding up processing for far greater numbers.About 200 frequent fliers are in the Streamlined Travel Trial, avoiding [...]

By | October 5th, 2017|Categories: Business|0 Comments

New cars are more distracting than ever

New-model cars are loaded with more driver distractions than ever before, including navigation systems that take an average of 40 seconds to program, according to a study of more than two dozen 2017 vehicles."It's a [...]

By | October 5th, 2017|Categories: Business|0 Comments

NZ shares hit record on A2 gains

New Zealand shares hit a record, led higher by A2 Milk and Synlait Milk continuing to gain, though the market was mixed with blue-chips like Auckland Airport falling.The S&P/NZX 50 Index rose 25 points, or [...]

By | October 5th, 2017|Categories: Business|0 Comments

Polish Dairy to join Fonterra's Global Dairy Trade platform

Polish Dairy, the fifth largest producer of milk in the European Union, will join Fonterra Cooperative Group's Global Dairy Trade platform from November 21, initially offering skim milk powder, whole milk powder, butter and lactose... [...]

By | October 5th, 2017|Categories: Business|0 Comments

After massacre, Las Vegas gets back to beer, slots, shows

The fountains at the Bellagio casino went off like clockwork, the water swaying and pulsating in time to Lee Greenwood's "God Bless the USA."Two faux showgirls in pink headdresses tried to hustle a few dollars [...]

By | October 5th, 2017|Categories: Business|0 Comments

Record $2.4 million property sale signals boom for Tauranga's downtown

A record $2.4 million sale price for an inner-city apartment in Tauranga has been chalked up by a development behind the police station in Park St.The Real Estate Institute has confirmed that the $2.398m price [...]

By | October 4th, 2017|Categories: Business|0 Comments

KiwiSaver hardships withdrawals rise 25pc

People in serious financial hardship took $81 million out of their KiwiSaver accounts in the last year - a 25 per cent rise on 2016.An annual KiwiSaver report released by the Financial Markets Authority shows [...]

By | October 4th, 2017|Categories: Business|0 Comments

Regulator fires shot at default KiwiSaver providers

New Zealand's KiwiSaver watchdog has told providers to up their game when it comes to making sure savers are in the right fund.The Financial Markets Authority has written to the bosses of the nine default [...]

By | October 4th, 2017|Categories: Business|0 Comments

Big rise in $200,000-plus salaries at Auckland Council

One in five staff at Auckland Council is earning more than $100,000 as the wages bill for the Super City blows out for the third year in a row.What's more, the number of executives earning [...]

By | October 4th, 2017|Categories: Business|0 Comments

Google's new Pixel phones take on Apple

Google is borrowing from Apple's playbook as it takes on its rival in high end of the smartphone market.The second generation of Google's Pixel phones unveiled this morning feature larger, brighter screens that take up [...]

By | October 4th, 2017|Categories: Business|0 Comments

NZ Super Fund takes stake in Australian beef stud

The New Zealand Superannuation Fund has made its first offshore farm investment, taking a stake in Australian beef stud Palgrove for an undisclosed amount. The deal, which has received approval from the Australian Foreign Investment... [...]

By | October 4th, 2017|Categories: Business|0 Comments

NZ shares rise as A2 hits new record

New Zealand shares gained, led higher by A2 Milk Co hitting a new record and Metro Performance Glass extending its recovery from a record low this week. The S&P/NZX50 Index rose 16.27 points, or 0.2 [...]

By | October 4th, 2017|Categories: Business|0 Comments

NZ dollar bounces from month-low

The New Zealand dollar recovered from a month-low after a surprise drop in dairy prices took the sheen off the local economic outlook, while data showed the housing market continued to slow down last month.The [...]

By | October 4th, 2017|Categories: Business|0 Comments

Insurance CEO justifiably dismissed: Employment Relations Authority

An insurance company boss who lost his job after last year's Kaikoura earthquake was justifiably dismissed, the Employment Relations Authority has ruled.Eugene Elisara, who was chief executive of the local arm of global insurance... Source: [...]

By | October 4th, 2017|Categories: Business|0 Comments

70 businesses banned from hiring migrants over labour law breaches

Construction companies, restaurants, an orchard, an electrician and a major trucking company are among 70 businesses sanctioned after exploiting migrant workers this year.The businesses have been banned from hiring migrants for... Source: NZ Herald Business [...]

By | October 4th, 2017|Categories: Business|0 Comments

Bay of Plenty office manager fleeces employer of $102K

A Mount Maunganui woman who stole almost $103,000 from her employer, used some of the money to help fund a week-long trip to Australia with her children.The trip included visits to a wildlife sanctuary and [...]

By | October 3rd, 2017|Categories: Business|0 Comments

'I doubt you're a real billionaire': Trump's brutal letter to Richard Branson

Richard Branson has revealed a brutal letter he received from Donald Trump back in 2004, giving an insight into the ongoing feud between the two.The letter came to light after Branson published an excerpt from [...]

By | October 3rd, 2017|Categories: Business|0 Comments

Auckland house values fall: lack of finance blamed

Auckland's housing market stalled in the last three months with property values falling by 0.6 per cent and buyers unable to get finance being blamed.The QV House Price Index showed Auckland values only rose a [...]

By | October 3rd, 2017|Categories: Business|0 Comments

Juha Saarinen: Social media subversion on Facebook and Twitter attracts political fury

To the surprise of precisely nobody, managing over 1.2 billion users on a platform that doesn't really care what they do and say as long as it's not too obviously illegal has turned out to [...]

By | October 3rd, 2017|Categories: Business|0 Comments

Fran O'Sullivan: Players pushing English towards Peters

Theres been some interesting machinations by some parts of the business community as they have fuelled the prospect that Nationals Bill English should make Greens co-leader James Shaw a coalition offer he cant refuse.Shaw would... [...]

By | October 3rd, 2017|Categories: Business|0 Comments

NZ shares up, Metro Glass rebounds

New Zealand shares rose slightly as post-election limbo continued, with Metro Glass rebounding from recent selling while A2 Milk Co and Synlait gave up some gains.The S&P/NZX 50 Index gained 4.53 points, or 0.06 per [...]

By | October 3rd, 2017|Categories: Business|0 Comments

NZ dollar falls with Aussie after RBA keeps rates steady

The New Zealand dollar fell against the greenback in tandem with the Australian dollar after the Reserve Bank of Australia kept rates steady and offered no hints any rate increases were on the horizon. The [...]

By | October 3rd, 2017|Categories: Business|0 Comments

Veteran nurse wrongly sacked, awarded $31k by ERA

A veteran nurse has been found to have been unjustifiably dismissed from a Dunedin rest home and awarded over $31,000.Kiwi Family Otago, which owned Woodhaugh Rest Home in North Dunedin, is to pay former facility [...]

By | October 3rd, 2017|Categories: Business|0 Comments

Virgin Australia leads commercial biofuel trial at Brisbane Airport

Virgin Australia is leading a trial of biofuel through Brisbane Airport's existing fuel supply system.United States-based renewable fuel and chemical producer Gevo Inc supply sustainable aviation fuel, or biojet, to the fuel supply... Source: NZ [...]

By | October 3rd, 2017|Categories: Business|0 Comments

Tauranga start-up receives $1m in angel investment

Kiwi sports engagement app DROPIT has received more than $1 million in an investment from Enterprise Angels. It is the largest investment which Enterprise Angels has ever made with a software company.A reverse auction app [...]

By | October 3rd, 2017|Categories: Business|0 Comments

Property slump unlikely: KPMG

Despite fears of a property slowdown, New Zealand's strong economy will help to keep house prices steady by attracting migrants and keeping Kiwis here, says KPMG.House hunters will be wanting the current property cycle to [...]

By | October 2nd, 2017|Categories: Business|0 Comments

Westpac leads way on family violence

Domestic violence is a workplace issue and bosses should care what happens to staff outside work, says Westpac chief executive David McLean.Westpac is the first organisation to earn a DVFREE Tick - an accreditation that [...]

By | October 2nd, 2017|Categories: Business|0 Comments

Mark Lister: Next Govt could face a rougher ride

This month we should find out what sort of Government we're in for over the next three years. Someone is going to come out on the wrong side of the negotiations, and it may not [...]

By | October 2nd, 2017|Categories: Business|0 Comments

Jared Bernstein: Here's the single, best thing Trump could do for the U.S. economy

The best thing President Trump could do for the economy certainly isn't tax cuts. It's not getting rid of the Affordable Care Act. It's not even his infrastructure plan (remember that?).It's the reappointment of Federal [...]

By | October 2nd, 2017|Categories: Business|0 Comments

Las Vegas horror drives predictable gun stock rally

The grim predictability of stock-market reactions to U.S. mass shootings - where before a final tally of casualties can be reached, shares of gun makers rise - continued in the wake of a Las Vegas [...]

By | October 2nd, 2017|Categories: Business|0 Comments

Wet weather tipped to push dairy prices higher

Analysts expect dairy prices to improve at this Wednesday's Global Dairy Trade auction after wet weather hampered the start of the peak months for milk production.Fonterra said in its update for August that bad weather [...]

By | October 2nd, 2017|Categories: Business|0 Comments

Gross thing passengers do that flight attendants hate the most

Working as a flight attendant is not nearly as glamorous as people think.Flight attendants are at the beck and call of rude passengers, they clean up the rubbish we dump in the aisles, they have [...]

By | October 2nd, 2017|Categories: Business|0 Comments

Trump's man in NZ: Tourists welcome but we need to vet you first

United State ambassador Scott Brown says the welcome mat is out to tourists as long as they are vetted carefully.The New Hampshire native, in Auckland at a New England tourism event, said his boss President [...]

By | October 2nd, 2017|Categories: Business|0 Comments

Handful of rest homes close after pay equity deal

A handful of rest homes have shut their doors in the wake of the Government's pay-equity deal for workers, reports RNZ radio network.The 55,000 workers in the aged-care and support sector will receive pay rises [...]

By | October 2nd, 2017|Categories: Business|0 Comments

How one woman created a $30 million beauty empire

Kate Morris's first job was working at the Clarins counter in her local Melbourne department store.It was here that the founder of popular Australian cosmetics website Adore Beauty realised that the multi billion dollar beauty... [...]

By | October 2nd, 2017|Categories: Business|0 Comments

Wairoa looking forward to second rocket launch

The countdown begins - with another rocket potentially blasting off from Hawke's Bay this month. Rocket Lab recently announced its second test window to launch its Electron rocket from their Launch Complex 1 site at [...]

By | October 1st, 2017|Categories: Business|0 Comments

TSB drops bank from name, rebrands

TSB has dropped bank from its name as part of a new brand and corporate logo to reflect its growth over the past decades.Founded in 1850, TSB has grown to be the sixth biggest bank [...]

By | October 1st, 2017|Categories: Business|0 Comments

Blockchain mogul comes to NZ

The co-founder of one the world's biggest blockchain businesses will talk to New Zealand regulators about opening up the market here.Fred Ehrsam, co-founder of Coinbase which is estimated to be worth more than US$500 million, [...]

By | October 1st, 2017|Categories: Business|0 Comments

Retailers exceed expectations, face mounting pressure

New Zealand's listed retailers had a better than expected results season but mounting challenges from online global retailers and the rise of Amazon is expected to put more pressure on the sector.The share prices of [...]

By | October 1st, 2017|Categories: Business|0 Comments

Amazon competition could force NZ shops to shut or shrink

Amazon's imminent Australasian arrival could change New Zealand's retail scene to the point where some shops shut, shrink or need to be re-purposed, says an architect. David Thornton, principal of the New Zealand arm of [...]

By | October 1st, 2017|Categories: Business|0 Comments

Topshop closes its doors days early after selling out of stock

Topshop has closed its doors days early after selling out of stock. At the Queen St store, all that remained were signs on the doors advising would-be shoppers of the closure, a graffitied board over [...]

By | October 1st, 2017|Categories: Business|0 Comments

Sport NZ official quits following conflict probe

A senior sporting official has resigned after an employment investigation found his shares-for-advice deal with an outside company represented a conflict of interest.Hugh Hutchison had been employed since 2010 as a senior commercial... Source: NZ [...]

By | October 1st, 2017|Categories: Business|0 Comments

Agent Liam Collett youngest Century 21 real estate owner

While most millennials are struggling to buy their first home, 21-year-old Liam Collett owns a business selling houses.On August 1, at the age of 20, he opened Century 21 More Property Realty on Barrys Point [...]

By | September 30th, 2017|Categories: Business|0 Comments

Liam Dann: Robot revolution? Our economy could use the boost.

I'm a big fan of the future. When I was a kid it couldn't come fast enough.I wasn't even that optimistic about it. I grew up in the golden age of dystopian sci-fi. In the [...]

By | September 30th, 2017|Categories: Business|0 Comments

Jack Tame: Bank ATM charges more than a bit rich

When I moved back to New Zealand at the start of this year, I changed banks.I did it for ethical reasons, or at least reasons of principle rather than beneficial interest rates or convenience.From a [...]

By | September 30th, 2017|Categories: Business|0 Comments

Diana Clement: How to get best car insurance deals

What are the secrets of cheap car insurance? It's easy to shave hundreds of dollars off your premium if you know how - but it's only worth doing if you understand the consequences.That's because "cheap" [...]

By | September 30th, 2017|Categories: Business|0 Comments

Gold Coast Dreamworld death report won't be released yet

The Queensland Government is reportedly thinking about suing Gold Coast theme park Dreamworld over the deaths of four people last year.Workplace Health and Safety has finalised a report into the deaths but the government won't [...]

By | September 30th, 2017|Categories: Business|0 Comments

Elon Musk says spaceship could take you from New York to London in 29 minutes

For years, Elon Musk has been focused on building a colony on Mars. It's why he founded SpaceX in 2002, and it's been the driving force behind it ever since.But during a speech in Adelaide, [...]

By | September 30th, 2017|Categories: Business|0 Comments

Summer surge in airline capacity into New Zealand means better deals for Kiwis

A summer surge in airline capacity to Auckland is coming, although new airline arrivals have levelled off.Scott Tasker, Auckland Airport's general manager aeronautical commercial, says while new airlines for New Zealand are on the... Source: [...]

By | September 30th, 2017|Categories: Business|0 Comments

iPhone 8: Augmented reality and what's inside the case

The iPhone 8 and 8 Plus arrived and they are indeed very similar to the iPhone 7 and 7 Plus. Exactly the same size, same biggish and now somewhat out of fashion bezels, only a [...]

By | September 30th, 2017|Categories: Business|0 Comments

TVNZ boss: 'There always needs to be more, it always needs to be faster'

TVNZ boss aims for more viewers - whatever the technology. Given the constant upheaval facing media businesses, TVNZ chief executive Kevin Kenrick must be in the perfect job for his personality type."I couldn't imagine working... [...]

By | September 29th, 2017|Categories: Business|0 Comments

Forex firm slapped with $5.3m fine

'Precedent setting' court ruling sees director banned from business. A test case for anti money-laundering regulations has seen a Queen St forex broker slapped with a $5.3 million fine and its director banned from business [...]

By | September 29th, 2017|Categories: Business|0 Comments

Fran O'Sullivan: Hail Caesar – calling the tune with just 7.5%

I'm joining the "forces of treachery" and arguing it is time Bill English stepped up and said he is willing to open negotiations with any of the other political parties to form a Government.This is [...]

By | September 29th, 2017|Categories: Business|0 Comments

Mary Holm: Shares v houses – The winner is clear

Q: You will no doubt have read Brian Gaynor's recent column in which he says: "Thirty years ago, on Friday, September 18, 1987, the long-standing NZX benchmark index reached an all-time high of 3968.89. This [...]

By | September 29th, 2017|Categories: Business|0 Comments

Investigation into charity trust supporting Maori King sharpens focus

Investigators probing alleged financial misappropriation at the office of the Maori King are zeroing in on the alleged actions of one individual.The Weekend Herald understands Charities Service investigators have begun conducting... Source: NZ Herald Business [...]

By | September 29th, 2017|Categories: Business|0 Comments

First Boeing Dreamliner for Qantas takes flight

Qantas' first Dreamliner has taken to the skies above Seattle as the airline prepares to launch its Perth-to-London services.The 787-9 is due to join the airline around the middle of this month after completing a [...]

By | September 29th, 2017|Categories: Business|0 Comments

Queen Street forex operator fined $5.3m for failure to fulfil anti-laundering regulations

A Queen St money-changer and money remitter has been fined $5.3 million after the High Court at Auckland heard it "failed abysmally" to meet regulations intended to prevent money-laundering.The Department of Internal Affairs, which... Source: [...]

By | September 29th, 2017|Categories: Business|0 Comments

Candy company general manager loses case over sacking of worker

The general manager of a confectionery distribution company who allegedly described one employee as a "Chinese c***" and another as a "fat useless f***ing slob that draws penises and vaginas all day" has lost an [...]

By | September 29th, 2017|Categories: Business|0 Comments

RBNZ tidy earner under Wheeler, with almost $1b of dividends to the Crown

The Reserve Bank of New Zealand kept its dividend largely unchanged in the 2017 financial year, taking the total returns under former governor Graeme Wheeler's stewardship to $990 million. The Wellington-based central bank reported... Source: [...]

By | September 29th, 2017|Categories: Business|0 Comments

Revealed: 50 more shops to open at Sylvia Park mall

Further details of the $200 million expansion of Auckland's biggest mall have been revealed, including that the overall centre will soon cover more than 10ha of indoor floor space and 50 new shops will open.Plans [...]

By | September 28th, 2017|Categories: Business|0 Comments

Stock Takes: First big revamp of NZX rules since 2003

Allowing foreign companies to list their shares on the local exchange in the form of depository receipts is one of several proposals being put forward by the NZX in a wide-ranging discussion paper released this [...]

By | September 28th, 2017|Categories: Business|0 Comments

57-storey giant set to tower over Auckland

Hengyi Pacific, the company planning a 57-level tower in downtown Auckland, has already built two Melbourne super-towers and is well under way with a third.And now it has big plans for its site here. Although [...]

By | September 28th, 2017|Categories: Business|0 Comments

Worldwide airport chaos after computer check-in systems crash

Air passengers have been suffering major disruption at airports around the world after computer check-in systems crashed.Problems were reported at airports including London's Heathrow and Gatwick, Charles de Gaulle in Paris, Zurich,... Source: NZ Herald [...]

By | September 28th, 2017|Categories: Business|0 Comments

Brian Fallow: Looking for common ground with Winston

While we await the outcome of Government-forming negotiations, we might as well pass the time with some harmless speculation about which of New Zealand First's economic policies might make it into the final deal.But first, [...]

By | September 28th, 2017|Categories: Business|0 Comments

Rental car cheaper than taxi or Uber for airports

Hiring a rental car for a round trip from Auckland city to the airport would be 386 per cent cheaper than a taxi.Research from rental car company GO Rentals pitted the costs of Ubers, taxis [...]

By | September 28th, 2017|Categories: Business|0 Comments

Economy Hub: Winston worries? NZX trading at record high

New Zealand's sharemarket has been completely untroubled by the current political uncertainty, touching record highs this week.But the prospect of tighter immigration policy being a feature of a new coalition Government poses some... Source: NZ [...]

By | September 28th, 2017|Categories: Business|0 Comments

Playboy: a publishing history

In 1953, a time when US states could legally ban contraceptives, when the word "pregnant" was not allowed on TV sitcom "I Love Lucy," a 28-year-old Hugh Hefner published the first issue of Playboy.Featuring naked [...]

By | September 28th, 2017|Categories: Business|0 Comments

Air NZ weighing options to recoup fuel disruption costs but says fares won't go up

Air New Zealand is still dealing with the lingering impact of the fuel pipeline failure but is now looking at recouping costs and will push for an overhaul of infrastructure.Chief executive Christopher Luxon said the [...]

By | September 28th, 2017|Categories: Business|0 Comments

Stuffed cow hanging from restaurant ceiling causes online backlash

An abattoir-style restaurant in Australia is facing an online backlash over the installation of a stuffed cow hanging from its ceiling.Etica, a pizza place in Adelaide, South Australia, have the taxidermied eight-year-old Friesian... Source: NZ [...]

By | September 28th, 2017|Categories: Business|0 Comments

Promisia names Rene de Wit as CEO

Promisia Integrative, which makes a dietary supplement for sore joints, announced it has appointed Rene de Wit as its new chief executive and said it is on the verge of launching its new product to [...]

By | September 28th, 2017|Categories: Business|0 Comments

Fuel crisis: 'Hard to believe it took them so long to find out'

Katikati's Merv Gaelic was "horrified" when he heard a key part of New Zealand's gas pipeline had been ruptured by a digger, leading to jet fuel shortages and flight cancellations at Auckland Airport.Mr Gaelic was [...]

By | September 27th, 2017|Categories: Business|0 Comments

Graeme Hall: Will Winston Peters add impetus to privacy reform?

Winston Peters recently fielded a barrage of questions about over-payments to him of national superannuation.Initially he refused to comment. Subsequently he disclosed that a "mistake" had been made, although by whom was unclear,... Source: NZ [...]

By | September 27th, 2017|Categories: Business|0 Comments

Ryanair to cancel another 400,000 bookings

Ryanair is cancelling a further 400,000 bookings on 18,000 flights between November this year and March 2018, it has announced. A total of 25 routes have been suspended over the winter period, including all flights [...]

By | September 27th, 2017|Categories: Business|0 Comments

Jim Rose: Share markets say whether CEOs are worth their pay

Big company CEOs are paid much more than a few decades ago but so too are celebrities, athletes and entertainers. Winston Peters is happy to attack the pay of the Fonterra CEO but never dares [...]

By | September 27th, 2017|Categories: Business|0 Comments

Q&A: How Apple's Face ID facial recognition works

In mid-September, Apple unveiled its new Face ID facial recognition system , which is due to debut with the iPhone X on November 3. The system lets users unlock their phones just by glancing at [...]

By | September 27th, 2017|Categories: Business|0 Comments

Global Financial Crisis to blame for drop in estate's value, says lawyer

The Global Financial Crisis caused the abrupt drop in value of a Taupo property at the centre of an estate wrangle involving a lawyer, accountant and regular NBR rich lister, a court has heard.Rob Latton, [...]

By | September 27th, 2017|Categories: Business|0 Comments

Bach, cars in $8.6m police swoop

Police are attempting to seize nearly $9 million in assets from a roading contractor - including a Coromandel bach and classic cars - they believe were accumulated as the result of bribery and corruption.Assets of [...]

By | September 27th, 2017|Categories: Business|0 Comments

NZ shares ignore election uncertainty to hit record

New Zealand shares shrugged off the post-election vacuum to hit a record high today, despite a lack of corporate news, with Tourism Holdings, Synlait Milk and Kathmandu Holdings gaining."The incredible outperformance of New Zealand... Source: [...]

By | September 27th, 2017|Categories: Business|0 Comments

Fonterra in the running for Aussie's Murray Goulburn

Fonterra has confirmed that it has made an indicative, non-binding proposal to the board of Australia's biggest dairy company, Murray Goulburn.Victoria-based Murray Goulburn, which last month reported a A$370.8 million (NZ$406.7m)... Source: NZ Herald Business [...]

By | September 27th, 2017|Categories: Business|0 Comments

Refinery boss on pipeline break – Sorry about your dream holiday

Refining New Zealand boss Sjoerd Post has apologised to travellers whose "dream holidays" were hit by the pipeline rupture, still leading to flight disruptions.The company owns and operates the pipeline which broke nearly two weeks... [...]

By | September 27th, 2017|Categories: Business|0 Comments

Theo Spierings' not the first $8m man at Fonterra

If anyone has a sense of déjà vu about a Fonterra boss being paid more than $8 million - they'd be right.You don't have to look back far in the co-op's history to find one [...]

By | September 26th, 2017|Categories: Business|0 Comments

Daughter, 33, stole her parents' $335k life savings while they went on holiday

A daughter has admitted stealing £179,000 (NZ$335,952) from her parents after they sold their home and took a trip of a lifetime.Melissa Humphreys, 33, abused her parents' trust after they left their finances in her [...]

By | September 26th, 2017|Categories: Business|0 Comments

Fran O'Sullivan: 'Fat cats' in Peters' sights

Winston Peters' swingeing attack on Fonterra boss Theo Spierings' $8.3 million pay packet could be the first real salvo in his self-advertised campaign to 'clean up corporate New Zealand'.There was little attention given to Peters'... [...]

By | September 26th, 2017|Categories: Business|0 Comments

Juha Saarinen: Is tech getting out of control?

The election's over and while plenty was said about tax, tech didn't get much of a look in.That's partly because unlike the last elections, the tangible tech stuff has been sorted out.The long missing infrastructure [...]

By | September 26th, 2017|Categories: Business|0 Comments

Mark Lister: Reversal of QE but no need to panic

• Mark Lister is head of private wealth research at Craigs Investment Partners. This column is general in nature and should not be regarded as specific investment advice Quantitative easing (QE) has been one of [...]

By | September 26th, 2017|Categories: Business|0 Comments

Having children can ruin your retirement

You don't have children to get rich.From the moment a child arrives, parents pay more-for food, clothes, health care, larger homes, child care and education. The total tab for getting a kid from birth to [...]

By | September 26th, 2017|Categories: Business|0 Comments

NZ education 'top in world' for future skills, says British report

New Zealand's education system has been ranked top of the world in "educating for the future".The new ranking , produced for the first time by the London-based Economist Intelligence Unit, measures the extent to which [...]

By | September 26th, 2017|Categories: Business|0 Comments

NZ shares up as confidence returns

New Zealand shares gained, with Kathmandu up on its full-year earnings and A2 Milk at a record high, as volumes recovered from yesterday's post-election lull.The S&P/NZX 50 Index rose 17.41 points, or 0.2 percent, to [...]

By | September 26th, 2017|Categories: Business|0 Comments

NZ dollar falls on election uncertainty

The New Zealand dollar fell against the US dollar on ongoing uncertainty about the election outcome and on the back of weak business confidence and trade data.The kiwi was trading at 72.45 US cents as [...]

By | September 26th, 2017|Categories: Business|0 Comments

GlobalDairyTrade looks to beef up offering

Fonterra Cooperative Group's GlobalDairyTrade platform, which has moved more than US$20 billion (NZ$27.6b) in dairy products since it launched in 2008, is looking to broaden its offering to meet customer needs."We are continually... Source: NZ [...]

By | September 26th, 2017|Categories: Business|0 Comments

Whakatane employee's $14k compo after being accused of 'stealing time'

A Whakatane woman accused of "time theft" by her employer has been awarded more than $14,000 after she was fired from her merchandising job.Janet Pool said she filed an unjust dismissal case not for the [...]

By | September 25th, 2017|Categories: Business|0 Comments

Kaiwaka farm sold to Singapore businesswoman

A 250ha farm near Kaiwaka is the latest Northland property to be sold to overseas interests, according to the Overseas Investment Office. The Ranganui Rd farm was sold for $5,750,000 to FL Hope Ltd, a [...]

By | September 25th, 2017|Categories: Business|0 Comments

Fonterra's final dairy payout pleases Northland farmers

Although slightly down from the last forecast price, Northland dairy farmers are happy with the final milk payout of $6.52 worth a total of $586.8 million.But the bulk of the payout will likely be used [...]

By | September 25th, 2017|Categories: Business|0 Comments

Michael Barnett: You don't have to own a property for it to be a home

• Michael Barnett is chief executive of the Auckland Chamber of Commerce. "When you play the Game of Thrones you win or you die, there is no middle ground!" says Cersei Lannister, queen, property owner [...]

By | September 25th, 2017|Categories: Business|0 Comments

Experts examining damaged Refining NZ pipeline in Northland

The damaged section of Refining NZ's pipeline is being examined by metallurgical experts to establish what caused the rupture.The refining company's chief executive, Sjoerd Post, said a specialist firm now had the section which... Source: [...]

By | September 25th, 2017|Categories: Business|0 Comments

NZ shares rise in light trading; A2, Z Energy, SkyCity gain

New Zealand shares rose in quiet trading following the general election as investors await the formation of a government, led by A2 Milk Co and SkyCity Entertainment Group.The S&P/NZX50 gained 54.99 points, or 0.7 per [...]

By | September 25th, 2017|Categories: Business|0 Comments

NZ dollar falls as markets await new government

The New Zealand dollar fell after there was no clear winner in Saturday's election with both the National Party and Labour-Green bloc vying to form a government with New Zealand First. The kiwi dropped to [...]

By | September 25th, 2017|Categories: Business|0 Comments

New Zealand banks not rushing to copy Australia and scrap ATM fees

It looks unlikely New Zealand banks will follow the lead of their Australian counterparts and scrap ATM fees. Australia's four biggest banks bowed to years of consumer pressure and abolished the ATM withdrawal fees for [...]

By | September 25th, 2017|Categories: Business|0 Comments

Ban parking on major Auckland roads, says trucking advocate

Parking should be banned on major Auckland arterial roads at all times of the day, says an advocate for the trucking industry.National Road Carriers chief executive David Aitken says road congestion is hurting the efficiency [...]

By | September 25th, 2017|Categories: Business|0 Comments

Small Business: What it's like to be a personal stylist – Fashion Fairground

Fashion Fairground founder and former marketing professional Stacey Gillies, 39, talks about how she became a personal stylist and what sets her apart from the competition. Can you describe your business? As a personal stylist... [...]

By | September 24th, 2017|Categories: Business|0 Comments

Fuel flowing in repaired pipeline, will reach airport tomorrow night

Fuel is now flowing from Marsden Pt to Wiri after repairs were made to the pipeline, and a spokesman for the fuel industry says it is looking forward to the fuel being pumped to Auckland [...]

By | September 24th, 2017|Categories: Business|0 Comments

Turoa ski field deal secures plans for mountain reinvestment

Ruapehu Alpine Lifts (RAL) has been granted a new licence to operate Mt Ruapehu's Tūroa, New Zealand's second largest ski area, securing the long term future of the company.The licence has an initial term of [...]

By | September 24th, 2017|Categories: Business|0 Comments

Parole for $33 million mortgage fraudster after one year in jail

An Auckland man involved in a $33 million mortgage fraud has been released on parole after spending just over a year in jail.Simon Lawrence Turnbull, in his mid-40s, last year admitted his role in a [...]

By | September 24th, 2017|Categories: Business|0 Comments

Seismic concerns prompt banks to leave Auckland mall

Two of New Zealand's biggest banks have shut branches in a large Auckland shopping centre over seismic concerns with some older parts of the mall.The banks closed within a day of each other last month, [...]

By | September 24th, 2017|Categories: Business|0 Comments

Mark Zuckerberg to sell up to US $12 billion of Facebook shares to fund philanthropy

Mark Zuckerberg said Facebook is withdrawing plans to create a new class of stock that would have let him keep tight reins on the social media company even as he sold down his stake to [...]

By | September 24th, 2017|Categories: Business|0 Comments

Liam Dann: Ten things for a new government to worry about

In theory the new government - whatever its final form - will inherit a benign New Zealand economy. Despite the social issues highlighted through the campaign, we have relatively strong GDP growth, a budget surplus [...]

By | September 23rd, 2017|Categories: Business|0 Comments

Diana Clement: What you need to know about KiwiSaver

Don't want to be on Struggle Street when you retire? Then make sure your KiwiSaver is working hard for you.If you're one of the 600,000 people eligible to join who hasn't, get your skates on. [...]

By | September 23rd, 2017|Categories: Business|0 Comments

Mt Roskill residents mourn loss of 'hill': told to take private litigation

When is a hill not a hill?In a case which has left a group of Mt Roskill residents frustrated, developers working on a subdivision neighbouring their homes have removed a small hill beside their driveway.The [...]

By | September 23rd, 2017|Categories: Business|0 Comments

Immigration a worry for business community when Peters holds balance of power

A cut to the number of people allowed migrate to New Zealand is one of the bigger changes on the minds of business commentators given Winston Peters holds the balance of power for the next [...]

By | September 23rd, 2017|Categories: Business|0 Comments

Liam Dann: Markets will cope with election uncertainty

The strength of the National vote should reassure markets. They can cope with uncertainty. The fund managers and brokers were braced for it. After the giant global political shocks of 2016 we watched as the [...]

By | September 23rd, 2017|Categories: Business|0 Comments

China's crackdown on cryptocurrency trading – a sign of things to come

The Chinese government's decision to order several Bitcoin and other cryptocurrencies exchanges to close shows how much of a threat they are perceived to be to financial stability and social order in China. The decision [...]

By | September 23rd, 2017|Categories: Business|0 Comments

Amazon signs deal to boost its US restaurant delivery service

Amazon wants to deliver more burritos and hamburgers to your doorstep.The e-commerce titan has been working to crack the code on food delivery for at least a decade. Now that Amazon has a major toehold [...]

By | September 23rd, 2017|Categories: Business|0 Comments

How electric cars can create the biggest disruption since iPhone

It's 10 years since Apple unleashed a surge of innovation that upended the mobile phone industry. Electric cars, with a little help from ride-hailing and self-driving technology, could be about to pull the same trick [...]

By | September 23rd, 2017|Categories: Business|0 Comments

Fran O'Sullivan: Risk mitigation absent in jet-fuel pipeline case

Country made to look like Mickey Mouse. Congratulations, New Zealand Inc. Once again 'You' (businesses, the defence forces, local and central government) have proved you are great in a crisis.But the brutal truth is that [...]

By | September 22nd, 2017|Categories: Business|0 Comments

Mary Holm: Trying to time markets is unwise

Q: I am 66 and my husband is 75. We have adequate income from NZ super and teacher super, interest and dividends to live comfortably. We are not big spenders but have children who are [...]

By | September 22nd, 2017|Categories: Business|0 Comments

Travel bonanza: Airfares and cruise packages drop as competition heats up

Airfare deals including return fares to Europe for under $1100 and 7-night Mediterranean cruise for $565. Cut-throat competition between airlines and the growing range of holiday packages are pushing prices down for overseas travel... Source: [...]

By | September 22nd, 2017|Categories: Business|0 Comments

Does 'unlimited' really mean unlimited?

Unlimited: Not limited or restricted; infinite. Companies are increasingly using the term in relation to the services they offer, particularly in the competitive telecommunications market where non-capped data, broadband and calling... Source: NZ Herald Business [...]

By | September 22nd, 2017|Categories: Business|0 Comments

Airbnb operators may be hit by bed tax

Auckland Council is looking at applying the new hotel and motel bed tax to Airbnb operators.But it has no plan to compile a register of longterm rental properties despite a report that indicates that half [...]

By | September 22nd, 2017|Categories: Business|0 Comments

No flight disruption to school holidays – Collins

Energy Minister Judith Collins says she's confident there will be no disruptions to school holiday travel as jet fuel allocations at Auckland International Airport were increased today.Carriers' fuel allocations have been raised... Source: NZ Herald [...]

By | September 22nd, 2017|Categories: Business|0 Comments

Spring Creek mine at Dunollie to be broken up and sold by tender shortly, says Solid Energy

The coalmine that once fired the Greymouth economy will be broken up and sold in bits by tender shortly, Solid Energy says.The pumps have already started to flood part of the Spring Creek underground mine [...]

By | September 22nd, 2017|Categories: Business|0 Comments

Man buys grandchildren a $4 million apartment block

A man from Sydney's hills district may just be the best grandpa going around - after he bought a block of four apartments in Neutral Bay for his grandkids at auction last night.The four renovated [...]

By | September 22nd, 2017|Categories: Business|0 Comments

Money arm wiped $40.1m from Warehouse bottom line

The 73.9 per cent slide in The Warehouse Group result was mainly due to its ill-considered move into financial services, causing a one-off hit to its bottom-line of $40.1m.Financial services was estimated to have been [...]

By | September 22nd, 2017|Categories: Business|0 Comments

Gear Friday: The Samsung Frame

Television makers try something new every year to sell more sets. We've gone from 3D to curved screens, high resolution and now... Samsung's thinks art is it, with its Frame TV.That means no more outlandish [...]

By | September 22nd, 2017|Categories: Business|0 Comments

Silver entrepreneurs make their own jobs

There's a rising tide of new entrepreneurs going into business for themselves - and they're not the hip young things you might expect.Statistics NZ data shows the number of over-50-year-olds who are self-employed but without [...]

By | September 21st, 2017|Categories: Business|0 Comments

KiwiSaver provider launches income fund

Low-cost KiwiSaver provider Simplicity has launched a new fund that allows people to convert their savings into a regular income at retirement.Currently KiwiSaver members can either choose to take some or all of their money [...]

By | September 21st, 2017|Categories: Business|0 Comments

Higher milk prices tipped to eat into Fonterra's profit

Fonterra is expected to produce a slightly weaker annual result on Monday as higher farmgate milk prices, which act as a higher input cost, eat into its margins.The farmgate milk price was $6.15/kg of milksolids [...]

By | September 21st, 2017|Categories: Business|0 Comments

Brian Fallow: How are we doing? The numbers tell the story

Political polls are not the only source of statistical insight into how people might be feeling on the eve of the election. There is information to be gleaned from the routine flow of economic data, [...]

By | September 21st, 2017|Categories: Business|0 Comments

Stock Takes: Disclosure a muddy area

It could be months before investors know the outcome of a complaint made to the NZX over the timing of NZ Refining's announcement to the market about its burst pipeline.The refining company released its announcement [...]

By | September 21st, 2017|Categories: Business|0 Comments

No fuel-related cancellations expected tomorrow: Air NZ

Air New Zealand believes it won't have to cancel any flights because of fuel issues tomorrow and says its planes should run according to schedule.Thousands of passengers were disrupted this week after a pipeline carrying [...]

By | September 21st, 2017|Categories: Business|0 Comments

Liam Dann: Why both parties face a fiscal hole

The last big economic stats before the election - GDP and migration - are not likely to shift many voters but they do offer a warning for the next Government.All the major parties are basing [...]

By | September 21st, 2017|Categories: Business|0 Comments

'Middling' economic growth as election looms

The last major statistical release before this Saturday's general election showed the economy grew at modest pace in the June quarter, aided by a strong performance from the retail sector, but with weakness emerging in [...]

By | September 21st, 2017|Categories: Business|0 Comments

'No comment ' from firm's media spokesman as Coca-Cola shrinks can size by nearly 10 per cent

Coke is reducing its can size by nearly 10 per cent, with one Wellington fizzy drink lover saying he's now short almost two cans of coke in a 24-pack.The company has shrunk its standard can [...]

By | September 21st, 2017|Categories: Business|0 Comments

Refining NZ to pay investors next week amid pipeline repairs

Refining NZ is sticking to its plan to pay shareholders a dividend next week as it works to repair its ruptured pipeline.The company will pay investors a dividend of 6c per share next Thursday, the [...]

By | September 21st, 2017|Categories: Business|0 Comments

Fran O'Sullivan: English looking ahead but rival is a sensation

Two more earthquakes, a failed fuel pipeline, election claims and counter-claims - this is no time for complacency.The sooner the election can be put to bed and an energetic and focused Government gets down to [...]

By | September 20th, 2017|Categories: Business|0 Comments

Raybon Kan: Digger hitting a fuel line an on-brand Kiwi crisis

So we know it was a digger, but we don't know whose digger? Odd. But on the bright side, the Isis kauri squad haven't faxed in to claim responsibility. Just think: a few thousand more [...]

By | September 20th, 2017|Categories: Business|0 Comments

Labour and National housing plans 'cynicism, no substance': expert

Both the Labour and National parties are making promises they are unable to keep about solving the country's housing shortage, says the head of one of the country's largest land development consultancies.Woods managing director... Source: [...]

By | September 20th, 2017|Categories: Business|0 Comments

Mercury leads sharemarket higher

By Paul McBeth New Zealand shares rose for a second day as stocks weighed down by fears about the jet fuel shortage in Auckland such as Air New Zealand and Z Energy joined other companies [...]

By | September 20th, 2017|Categories: Business|0 Comments

This is how long your emails should be

A work email should be no longer than a text message.If you use it as anything other than a "quick messaging system", you can easily waste countless hours every week participating in lengthy email exchanges, [...]

By | September 20th, 2017|Categories: Business|0 Comments

How the NZ dollar reacted to tonight's poll

The New Zealand dollar jumped half a cent when the latest poll showed the National Party leapfrogging its nearest rival ahead of Saturday's general election.The kiwi reached as high as 73.72 US cents and was [...]

By | September 20th, 2017|Categories: Business|0 Comments

$50b apartment sector shake-up promised post-election

National and Labour are planning a post-election shake up of the $50 billion apartment sector, dogged by disputes, power struggles, lax governance, lack of pre-purchase disclosure, poor maintenance and management plans and financial... Source: NZ [...]

By | September 20th, 2017|Categories: Business|0 Comments

Wet weather could push butter prices even higher

Butter prices may push higher still if the weather does not start to improve, says ASB rural economist Nathan Penny.At today's GlobalDairyTrade auction, butter prices continued their record-breaking run while whole milk powder put... Source: [...]

By | September 20th, 2017|Categories: Business|0 Comments

Simon Moutter: Facing uncomfortable truths about diversity

This week Spark managing director Simon Moutter spoke at the Global Women 1 Day for Change summit. Here is an abridged version of his speech. Over the last couple of years at Spark, we've thrown [...]

By | September 20th, 2017|Categories: Business|0 Comments

Fonterra unit encouraged farmers to attend Morrinsville march

Farmers were encouraged by Fonterra subsidiary Farm Source Waikato to attend Monday's march in Opposition leader Jacinda Ardern's home town of Morrinsville, where many voiced their opposition to Labour's plan to introduce a tax on... [...]

By | September 19th, 2017|Categories: Business|0 Comments

Fuel crisis could make Auckland traffic worse

Auckland Mayor Phil Goff says he is prepared to use specially controlled traffic lights and bus lanes to get tankers through city streets in a bid to solve the fuel crisis.Goff told the Herald Auckland [...]

By | September 19th, 2017|Categories: Business|0 Comments

Truck driver on 'unlimited' 2Degrees calling plan told to cut down

An Auckland truck driver is perplexed and annoyed after receiving a text message from his mobile phone provider saying he needs to cut down on calls, despite paying for "unlimited" calling.Mike Oliver received a text [...]

By | September 19th, 2017|Categories: Business|0 Comments

PM's key infrastructure plan didn't include fuel pipeline to Auckland

The fuel pipeline ruptured by a digger was left out of a "national infrastructure plan" overseen by Prime Minister Bill English despite warnings its loss could "cripple" Auckland transport.The latest version of the plan developed... [...]

By | September 19th, 2017|Categories: Business|0 Comments

Synlait success has stock at record high

New Zealand shares inched up, with Synlait Milk touching records, A2 Milk gaining after Synlait's positive earnings and New Zealand Refining recovering.The S&P/NZX 50 Index rose 5.82 points, or 0.08 per cent, to 7,764.53. Within... [...]

By | September 19th, 2017|Categories: Business|0 Comments

Civil Aviation Authority deputy chair resigns

The deputy chairman of the Civil Aviation Authority has resigned after he told an airline he governs that a rival carrier was going to be grounded.The authority grounded Tauranga-based airline Sunair Aviation on September 8 [...]

By | September 19th, 2017|Categories: Business|0 Comments

Nike rolled in 'crazy' adidas takeover

For the first time in their modern rivalry, Nike has reason to fear adidas.When it comes to footwear, the swooping tick has always been untouchable, but dramatic sales figures released by a market research company [...]

By | September 19th, 2017|Categories: Business|0 Comments

Refinery pipeline crisis: Fuel supplies dwindle in Pacific

Air New Zealand is being forced to fly an empty plane to Wellington to refuel before flying on to long haul destinations as supplies dwindle in the Pacific.As rationing continues to hit airlines, Air New [...]

By | September 19th, 2017|Categories: Business|0 Comments

Thirteen Z petrol stations now out of 95

Thirteen Z Energy service stations are out of 95 octane petrol as a result of the ruptured Marsden Pt fuel pipeline, the company says.This morning just four Z stations were out of the premium fuel, [...]

By | September 19th, 2017|Categories: Business|0 Comments

Juha Saarinen: The Equihax nail in the privacy coffin

As details of the Equifax massive spill of personal, sensitive information on 143 million people mostly in the United States emerge, it's hard to come to any other conclusion that the company didn't have the [...]

By | September 19th, 2017|Categories: Business|0 Comments

Sharemarket steady as election looms

New Zealand shares were little changed at the start of election week. New Zealand Refining and Air New Zealand dropped following a pipeline leak, while A2 Milk Co rose.The S&P/NZX 50 Index fell 3.95 points, [...]

By | September 18th, 2017|Categories: Business|0 Comments

NZ dollar gains regardless of election countdown

The New Zealand dollar gained as investors became more sanguine about the outcome of Saturday's election, regardless of who wins and as risk appetite improved in Asia. The Kiwi dollar traded at US73.12c at 5pm [...]

By | September 18th, 2017|Categories: Business|0 Comments

Cost of pipeline rupture spills across economy

Costs are mounting for businesses hit by the fuel pipeline rupture with airlines forced to make expensive stops at overseas airports and NZ Refining estimating it may cost up to $15 million in revenue.On the [...]

By | September 18th, 2017|Categories: Business|0 Comments

New swamp kauri claims over ruptured pipeline – they were 'digging around for a log'

Digging at the site of the critical fuel pipeline was identified as an "exploratory" search for swamp kauri the day before the rupture happened, according to an industry insider with stories of the extraordinary wealth [...]

By | September 18th, 2017|Categories: Business|0 Comments

Refining NZ tells social media about leak days before stock exchange

Refining NZ first revealed that there was a problem with its pipeline to Auckland last Thursday when it posted about it on Facebook but it was not until Sunday that the full extent of the [...]

By | September 18th, 2017|Categories: Business|0 Comments

NZQA closes Christchurch school for foreign students

Another business school for international students has been closed for breaking the official rules.Retail Business and Management College (RBMC), a small college with 31 international students in Christchurch, has had its registration... Source: NZ Herald [...]

By | September 18th, 2017|Categories: Business|0 Comments

The Block NZ properties sell for $300k more than street's average

The Block NZ houses sold for at least $300,000 more than the average value of other properties on the same Auckland street.Before last night's auctions, the houses on Potter Ave in Northcote had been tipped [...]

By | September 18th, 2017|Categories: Business|0 Comments

Air New Zealand CFO Rob McDonald to retire

Air New Zealand chief financial officer Rob McDonald will retire at the end of the year and will be succeeded by group general manager of corporate finance, Jeff McDowall.McDonald has been with the airline for [...]

By | September 18th, 2017|Categories: Business|0 Comments

Comment: Airport fuel crisis – why airlines have to prepare for anything

Airlines are used to dealing with the unexpected. But a fuel pipeline rupture in a Northland swamp where a digger was working would have been way down the list of the contingencies they prepare for.Uncertainty [...]

By | September 17th, 2017|Categories: Business|0 Comments

Air fare fight looms as Hawaiian Airlines boosts its Auckland-Honolulu service

Hawaiian Airlines is boosting its New Zealand service to five flights a week between Auckland and Honolulu, a move that is likely to push fares down further on the increasingly competitive route.The airline has for [...]

By | September 17th, 2017|Categories: Business|0 Comments

NZME announces Deloitte Top 200 Awards

The Deloitte Top 200 Awards evening, in partnership with NZME Events, will be held on Thursday November 23 at Spark Arena. The awards which have been held annually for 28 years will be themed on [...]

By | September 17th, 2017|Categories: Business|0 Comments

Man burned by caustic beer awarded $1 million

A man whose esophagus and stomach were severely burned when he drank a beer tainted by a caustic chemical at an Atlantic City casino restaurant has been awarded US$750,000 (NZ$1.03m).A jury on Friday awarded the [...]

By | September 17th, 2017|Categories: Business|0 Comments

What impact June quarter GDP data could have on the election

This week's growth data looks unlikely to provide any last-minute fodder for political parties in the leadup to Saturday's general election, with economists expecting the release to show the economy put in a fair-to-middling performance... [...]

By | September 17th, 2017|Categories: Business|0 Comments

Start-up could reduce roadkill accidents by 90%

Scientific American reports that one to two million animals are killed by motorists every year in the United States - the equivalent of one collision every 26 seconds. That doesn't include all the raccoons, skunks [...]

By | September 17th, 2017|Categories: Business|0 Comments

Christopher Niesche: Aussie supermarkets gear up for Amazon

Australia's big supermarkets are gearing up to meet the threat of Amazon, with Woolworths planning to offer what it calls extreme convenience.With the US online retailer expected to start operations in Australia in the next [...]

By | September 17th, 2017|Categories: Business|0 Comments

Qantas boss receives colossal pay rise

Qantas chief executive Alan Joyce has almost doubled his pay packet, with a massive bonus taking his annual earnings to almost A$25 million (NZ$27.4m).The 51-year-old earned the 90 per cent jump in remuneration from his [...]

By | September 17th, 2017|Categories: Business|0 Comments

Manuka honey – snake oil or science?

By Nural Cokcetin and Shona BlairManuka honey is often touted as a "superfood" that treats many ailments, including allergies, colds and flus, gingivitis, sore throats, staph infections, and numerous types of wounds.Manuka can... Source: NZ [...]

By | September 16th, 2017|Categories: Business|0 Comments

Got old phones? Here's how to reuse, recycle or sell them

It's natural to get the phone-upgrade itch when the likes of Apple, Samsung and others keep coming out with newer models. And sometimes your old phone is just kaput. But what do you do with [...]

By | September 16th, 2017|Categories: Business|0 Comments

Finding land for a tiny house just became a whole lot easier

Kiwis are offering up their land for tiny home buyers to move their portable houses on in temporary and permanent deals.A new website, Landshare has been set up to provide a place for people looking [...]

By | September 16th, 2017|Categories: Business|0 Comments

Liam Dann: Why aren't food prices an election issue?

Food prices hit fresh highs in August. It was a continuation of a trend that has seen big spikes in dairy and fresh produce, running in stark contrast to general levels of inflation for consumer [...]

By | September 16th, 2017|Categories: Business|0 Comments

Diana Clement: How to save $20 every day

I bet there's $20 a day that could be cut from almost every reader's spending. The suggestion will bring howls of protest from some corners - but check out your bank statement and tell me [...]

By | September 16th, 2017|Categories: Business|0 Comments

The business of addiction: how the video gaming industry is evolving to be like the casino industry

The video gaming industry has transitioned from a group of backyard innovators to an industry of multi-billion dollar companies, hiring psychologists, neuroscientists and marketing experts to turn customers into addicts. The latest... Source: NZ Herald [...]

By | September 16th, 2017|Categories: Business|0 Comments

Renault-Nissan-Mitsubishi bets on spike in electric cars

The Renault-Nissan-Mitsubishi alliance is gambling that mass-market drivers are going to pivot soon to electric cars, announcing plans Friday to produce 12 new electric models by 2022 and to make electric cars 30 per cent [...]

By | September 16th, 2017|Categories: Business|0 Comments

Former Air New Zealand boss Rob Fyfe appointed to board of Air Canada

Former Air New Zealand boss Rob Fyfe is heading back to work for an airline after being appointed to Air Canada's board.Fyfe is credited with helping turn around Air New Zealand's commercial fortunes and introducing [...]

By | September 16th, 2017|Categories: Business|0 Comments

The interview: Trade Me CEO Jon MacDonald

Auction website's boss tells Tamsyn Parker he's ready for giant rival. Jon MacDonald appears surprisingly relaxed and confident for a man whose company may be only weeks away from a closer encounter with the competition-crushing... [...]

By | September 16th, 2017|Categories: Business|0 Comments

Crunch time for Budget numbers

Parties' expected surpluses much the same - but health is a key difference. Either Steven Joyce or Grant Robertson is likely to be writing the next three Budgets.One week from the general election, what do [...]

By | September 15th, 2017|Categories: Business|0 Comments

Mary Holm: A tale of two Auckland houses

Q: Here is our dilemma: we are in our mid-40s with two kids aged 9 and 11. I work full-time and make $175,000 a year and my partner is a stay at home dad (I [...]

By | September 15th, 2017|Categories: Business|0 Comments

Xero chief executive Rod Drury reveals what's next for his firm

It's been 11 years since Wellington-based company Xero was founded, 10 years since it went public, and chief executive Rod Drury says it has the potential to become a tech powerhouse like Amazon, Facebook or [...]

By | September 15th, 2017|Categories: Business|0 Comments

Bian Gaynor: Reflecting on the heady heights of '87

Thirty years ago, on Friday, September 18, 1987, the long-standing NZX benchmark index reached an all-time high of 3968.89. This capital index, which is now called the S&P/NZX 50 Index, has never returned to this [...]

By | September 15th, 2017|Categories: Business|0 Comments

Is iPhone X the apple of their eye?

Ten years since Steve Jobs held up the first iPhone, the tech giant has upped the gadgetry, and price, for the latest $2000 incarnation, writes James Titcomb. In the summer of 2013, it looked very [...]

By | September 15th, 2017|Categories: Business|0 Comments

Apartment buyers left in debt as Aussie banks 'pull plug'

Up to 5000 apartment buyers could be left tens of thousands of dollars in debt after borrowing deposits for unbuilt units they cannot get the remaining funds for.Martin Dunn, of estate agency City Sales, said [...]

By | September 15th, 2017|Categories: Business|0 Comments

Economy Hub: What's the most important economic statistic?

What's the most important economic statistic? We put it to finance candidates - National's Steven Joyce and Labour's Grant Robertson - at the Mood of the Board Room this week. The answers were stark and [...]

By | September 15th, 2017|Categories: Business|0 Comments

Blastacars drift karts racing into the future

Blastacars Drift Karts is revving up to share its unique indoor drift karting experience with a new generation of thrill seekers and become a must-visit Waikato destination for visitors and locals.The Blastacars team has been [...]

By | September 15th, 2017|Categories: Business|0 Comments

Online grocery delivery hampered by picky shoppers

Despite the best efforts of Coles, Woolworths and a growing number of grocery delivery start-ups, Australians have failed to embrace buying their groceries online.According to research firm Roy Morgan, the number of shoppers who... Source: [...]

By | September 15th, 2017|Categories: Business|0 Comments

Juha Saarinen: Blueborne, the massive security Bluetooth-ache

Another week, another giant IT security issue: billions of devices out there have wireless Bluetooth networking, and heaps of them are totally insecure.That means bad people can have a go at new and old smartphones, [...]

By | September 15th, 2017|Categories: Business|0 Comments

Yellow rebrands, celebrates turnaround

Long-time directory business Yellow is rebranding to reflect the company's focus on its role as a digital advertising agency.The iconic black fingers on a yellow background will remain on the directories but from today, Yellow... [...]

By | September 14th, 2017|Categories: Business|0 Comments

Brian Fallow: Two tracks to lower emissions

One possible outcome of the general election is a Labour-Greens coalition, in which case one of the most interesting areas for negotiation would be climate policy.The climate change policies the two parties have recently released... [...]

By | September 14th, 2017|Categories: Business|0 Comments

Kiwi health tech company sold offshore

New Zealand health tech success story HealthLink has been bought by the cash-rich Clanwilliam Group, which is on the hunt for more Kiwi companies.It was announced today that the Clanwilliam, which is backed by the [...]

By | September 14th, 2017|Categories: Business|0 Comments

Stock Takes: Investors on hold as Vodafone ponders NZ listing

The possible addition of Vodafone New Zealand to the NZX is seen by investors as a definite plus for the local market which, despite another stellar year, has been starved of new listings.This year has [...]

By | September 14th, 2017|Categories: Business|0 Comments

Labour softens KiwiSaver compulsion stance

Labour has softened its plans on how to make KiwiSaver compulsory saying it would consult with unions and business first, if elected into government.In the run up to the 2014 election Labour's policy was to [...]

By | September 14th, 2017|Categories: Business|0 Comments

My three years in identity theft hell

By Drew Armstrong The banker at Wells Fargo looked across her desk at me with the pained expression of somebody who wants to sell you something but can't."I see you already have several accounts with [...]

By | September 14th, 2017|Categories: Business|0 Comments

Shareholders Association takes aim at Turners placement

The New Zealand Shareholders' Association has Turners Automotive Group in its sights after the auto and finance firm raised funds through a placement to sophisticated and wealthy investors. The retail investor lobby group has been... [...]

By | September 14th, 2017|Categories: Business|0 Comments

Don Christie: Data should stay in New Zealand

Michael Brick of Microsoft asserted last month that it doesn't matter where data is stored so long as privacy risks are understood and mitigated. We strongly disagree.Any data sent out of New Zealand is subject [...]

By | September 14th, 2017|Categories: Business|0 Comments

Inside New Zealand's first Pak'nSave Mini

The famous yellow livery is unmistakable but the size of the first Pak'nSave Mini in the country is also immediately obvious.The Pak'nSave Mini is being trialled first in Levin and will offer 2500 key products [...]

By | September 14th, 2017|Categories: Business|0 Comments

Those seven Labour taxes – what's left in play?

Labour's undefined tax policies left them vulnerable to National attack ads which warned of seven new taxes or tax hikes. Based on the most recent polls National's strategy appeared to be working.Now that Labour has [...]

By | September 14th, 2017|Categories: Business|0 Comments

Businessman loses $305,000 deposit on Sydney trophy home

It was supposed to secure his dream home in Sydney's eastern suburbs, but A$277,000 ($305,000) has evaporated into thin air.Property developer Peter Zhu has forfeited his down payment on a luxury property in Bellevue Hill, [...]

By | September 13th, 2017|Categories: Business|0 Comments

Colleague leaves ultimate passive aggressive note over toilet seat 'hovering'

A journalist in the United States has lifted the lid on one of the most pressing dilemmas of the modern workplace.Amanda Terkel, Huffpost's Washington bureau chief, tweeted a passive-aggressive note spotted in her office bathroom,... [...]

By | September 13th, 2017|Categories: Business|0 Comments

S&P says NZ housing needs to cool further

The New Zealand housing market needs to cool further and credit growth needs to slow to remove risks to the wider banking system, Standard & Poor's says. In an update on New Zealand's banking sector, [...]

By | September 13th, 2017|Categories: Business|0 Comments

Houses across NZ taking longer to sell

Selling up and moving out is no easy feat as houses across the country languish on the markets for weeks, and in some cases years, before being sold. Property figures indicate houses are taking longer [...]

By | September 13th, 2017|Categories: Business|0 Comments

Apple pays tribute and casts ahead in keynote

Apple's September 2017 keynote event was all about paying tribute to what the tech giant has done in the past and casting forward to what it could be in the future.The event began with the [...]

By | September 13th, 2017|Categories: Business|0 Comments

Cooking the Books podcast: Ten ways to save a buck in your daily life

Each week the New Zealand Herald and Newstalk ZB's Cooking The Books podcast tackles a different money problem. Today, it's ten ways everyday people have cut down their costs. Hosted by Frances Cook. Money experts [...]

By | September 13th, 2017|Categories: Business|0 Comments

Opinion: Why I am not going to buy the iPhone X

I can already hear the keyboard strokes of Apple fanboys getting ready to abuse me on Twitter, but there is no way I am paying over NZ$2000 for the iPhone X.The device has an edge-to-edge [...]

By | September 13th, 2017|Categories: Business|0 Comments

Juha Saarinen: 60-day expiry has users HOPping mad

There have been sour comments from techies about the AT HOP card debacle that saw online top ups disappear after 60 days, and the usual rage against media getting it wrong.Some of it is fair [...]

By | September 12th, 2017|Categories: Business|0 Comments

Live: New iPhone announcement from Apple

Tech enthusiasts will be watching closely this morning as Apple unveils its highly anticpated iPhone 8, a decade after the groundbreaking smartphone first entered the market.Today, one thousand journalists, executives and VIPs are... Source: NZ [...]

By | September 12th, 2017|Categories: Business|0 Comments

Labour's pay policy a return to 'the bad old days': Steven Joyce

Labour's industrial relations policy would take New Zealand back to the "bad old days of the 1970s" when a job's value was decided in Wellington, says Steven Joyce.The Finance Minister took aim at Labour's Fair [...]

By | September 12th, 2017|Categories: Business|0 Comments

Blue chip companies drag shares down

New Zealand shares fell as CBL Corp extended its decline, while retirement stocks Arvida Group and Metlifecare were sold on pre-election jitters.The S&P/NZX 50 Index slipped 11.34 points, or 0.1 per cent, to 7840.41. Within [...]

By | September 12th, 2017|Categories: Business|0 Comments

Mark Lister: Why a capital gains tax won't be a game changer for first home buyers

The election odds appear slightly in favour of a Labour-led government. On the tax front, this means uncertainty in the short term and some potentially major changes further out.The lack of detail is a concern, [...]

By | September 12th, 2017|Categories: Business|0 Comments

Christchurch developer David Henderson battles restrictions after bankruptcy lifted

A Christchurch property developer who was bankrupted twice is battling a judge's processes for restricting his ability to manage a business and accrue debt.David Henderson was bankrupted for the second time in 2010 owing at [...]

By | September 12th, 2017|Categories: Business|0 Comments

What to expect at Apple's biggest event in years

On Tuesday, Apple chief executive Tim Cook will take the stage for the first time in the Steve Jobs Theater at its new campus. Apple plans to unveil three phones-another first-including a premium model that [...]

By | September 12th, 2017|Categories: Business|0 Comments

Glass mix-up sees $18k worth of wine given away

A Christchurch bar claims it gave away $18,00 worth of wine due to incorrectly printed pour lines on its wine glasses. The glasses, from Southern Hospitality and marked by a third party, were lined for [...]

By | September 12th, 2017|Categories: Business|0 Comments

CropLogic drops 15% on ASX debut

CropLogic, the agricultural technology company, has first traded on the Australian stock exchange at 17 Australian cents, a 15 per cent discount to its initial public offering price.The company, which counts Powerhouse Ventures... Source: NZ [...]

By | September 12th, 2017|Categories: Business|0 Comments

Trump a major factor impacting NZ business confidence

By Tim McCready The "Trump factor" is one of the major issues impacting chief executives' confidence in the global economy.In last year's Mood of the Boardroom survey - held just over a month before the [...]

By | September 11th, 2017|Categories: Business|0 Comments

Liam Dann: We're in good shape, but must stay prepared

Business leaders are upbeat about their prospects for growth in the coming year and that is good news for the economy.More than half, 56 per cent, expect to authorise more capital expenditure - just 12 [...]

By | September 11th, 2017|Categories: Business|0 Comments

CEOs give their report cards on National Government

By Tim McCready When asked to consider the National-led Government on its performance in key areas since the 2014 election, CEOs rated the Budget surplus focus at 4.55/5 most highly, followed closely by economic growth [...]

By | September 11th, 2017|Categories: Business|0 Comments

How do the chiefs rate the leaders?

The Game Changer Jacinda Ardern's charisma, her ability to appeal to a younger generation, and her much sought after 'cut-through' that former leader Andrew Little just couldn't seem to muster are some of her most [...]

By | September 11th, 2017|Categories: Business|0 Comments

A strong mood for change among business leaders

There is a strong mood for change among the 118 respondents to the Herald 's Mood of the Boardroom Election Survey.Some 88 per cent see Ardern as the lightning rod which could catapult Labour to [...]

By | September 11th, 2017|Categories: Business|0 Comments

Long/short equity strategy can safeguard against drop

New Zealand's current investment backdrop is one which has seen a significant increase in asset values (including across shares, bonds and property), as well as some unusual activity in respect of asset correlation.These factors... Source: [...]

By | September 11th, 2017|Categories: Business|0 Comments

NZ shares mixed as A2, F&P Health hit records

New Zealand shares were mixed with exporters A2 Milk Co and Fisher & Paykel Healthcare hitting record highs as a weaker kiwi dollar boosts their overseas earnings, while CBL Corp dropped amid a gloomy outlook [...]

By | September 11th, 2017|Categories: Business|0 Comments

NZ dollar falls as greenback recovers with weakening Irma

The New Zealand dollar fell as fears around the US dollar eased with the weakening strength of Hurricane Irma, the lack of further weapons testing by North Korea and less demand for safe havens such [...]

By | September 11th, 2017|Categories: Business|0 Comments

First Credit Union customers unable to use cards

Some First Credit Union customers have been hit with issues after the bank migrated to a new core provider and a new debit card provider.One customer got in touch with the Herald saying she was [...]

By | September 11th, 2017|Categories: Business|0 Comments

Auckland to New York direct flights on the horizon, Air NZ boss says

Air New Zealand has hinted an Auckland-New York direct route is on the horizon, once it acquires new airplanes.Chief executive Christopher Luxon told Forbes the airline is in the top five in the world in [...]

By | September 11th, 2017|Categories: Business|0 Comments

Getting more housing, making it more affordable: what's the plan?

Housing has been a key issue as the election draws near and the main political parties' policies on development, first-home ownership, tax, foreign buyers and increasing supply in high-demand areas such as Auckland differ widely.From... [...]

By | September 10th, 2017|Categories: Business|0 Comments

Fear of a Labour/Green Gov 'gone' says business leader

Fear of a Labour/Green Government in the business community is well gone, says SkyCity chairman-elect Rob Campbell.Speaking to Fran O'Sullivan for the Herald 's Mood of the Boardroom series, Campbell said the Jacinda effect of... [...]

By | September 10th, 2017|Categories: Business|0 Comments

Major housing development planned for prime Dominion Rd site

A rundown but prime site on Dominion Rd is being sold with plans for 102 apartments and nine shops - to be sold at premium prices - by Auckland Council's development arm.Panuku Development Auckland is [...]

By | September 10th, 2017|Categories: Business|0 Comments

Small Business: Treats good enough for you, and your dog – Snoop Inspired

Deborah Godfrey started making treats for her dog when she was living in Melbourne before thinking it could be a good business idea. Godfrey talks to Aimee Shaw about what's next for her pet-friendly brand [...]

By | September 10th, 2017|Categories: Business|0 Comments

Plan to get builders jumping to NZ

Bungy jumping, fishing, and weekend trips to Waiheke Island are being dangled in front of overseas builders to get them to move to New Zealand.A group of private companies and public organisations, including Auckland Transport,... [...]

By | September 10th, 2017|Categories: Business|0 Comments

China's ever-tighter web controls jolt companies, scientists

BEIJING (AP) " Frank Chen's e-commerce business has nothing to do with politics but he worries it might be sunk by the Communist Party's latest effort to control what the Chinese public sees online.Chen's 25-employee [...]

By | September 10th, 2017|Categories: Business|0 Comments

China looks at ending sales of gasoline cars

BEIJING (AP) " China is joining France and Britain in announcing plans to end sales of gasoline and diesel cars.China's industry ministry is developing a timetable to end production and sale of traditional fuel cars [...]

By | September 10th, 2017|Categories: Business|0 Comments

'I don't know why I'm so stupid': How accepting a friend request cost this mum $630,000

Late last year, Melbourne woman Jennifer Chen* accepted a friend request from a handsome American doctor named Frank Harrison.The 61-year-old, originally from China, thought nothing of it, having regularly received messages from... Source: NZ Herald [...]

By | September 10th, 2017|Categories: Business|0 Comments

North Korea illegally exported coal, iron and other commodities worth at least US$270 million

North Korea illegally exported coal, iron and other commodities worth at least US$270 million to China and other countries including India, Malaysia and Sri Lanka in the six-month period ending in early August in violation [...]

By | September 10th, 2017|Categories: Business|0 Comments

Lessons from Australia on capital gains tax

A capital gains tax was introduced in Australia over three decades ago and since then house prices have roared out of control.But does this mean that capital gains taxes can't help control house prices?Not necessarily. [...]

By | September 10th, 2017|Categories: Business|0 Comments

Tank failures in Harvey reveal vulnerabilities in storm

More than two dozen storage tanks holding crude oil, gasoline and other contaminants ruptured or otherwise failed when Harvey slammed into the Texas coast, spilling at least 145,000 gallons (548,868 liters) of fuel and spewing [...]

By | September 9th, 2017|Categories: Business|0 Comments

Diana Clement: Top tips for a cheaper holiday

Holidays bankrupt some people. Literally. Their overspending leads down a slippery financial slope.But with a bit of pre-planning and, dare I say it, a loose budget for how much to spend each day, holidays don't [...]

By | September 9th, 2017|Categories: Business|0 Comments

Hamish Fletcher: Why Labour's rental plans are good for landlords

The landlord lobby had a clever response to Labour's plan for rental reform.Given the complaints of property investors don't garner much public sympathy, it was smart to focus on how Labour's moves would harm the [...]

By | September 9th, 2017|Categories: Business|0 Comments

Reporter Brittany Keogh stays the night in a 17sqm Build Tiny house

It's bucketing down as an early spring storm begins but inside the tiny house where my husband David and I are staying the night it's dry and cosy.We'll be the first people to sleep in [...]

By | September 9th, 2017|Categories: Business|0 Comments

What you need to know about the Equifax data breach

NEW YORK (AP) " Equifax, one of the three main credit reporting companies, said this week that a major data breach exposed Social Security numbers and other important information of millions of people.The breach affected [...]

By | September 9th, 2017|Categories: Business|0 Comments

Explainer: How international competition affects how much you earn

The slump in wage growth is not just an Australasian phenomenon - wage growth in most advanced economies has been lower than expected in recent years. This is because globalisation has put us all in [...]

By | September 9th, 2017|Categories: Business|0 Comments

US tourism, agriculture businesses brace for Irma's impact

US tourism accounts for 1.4 million jobs in the Sunshine State, where more than 112 million people visited last year and spent $109 billion. Resorts and hotels there could suffer instant destruction from Irma's winds [...]

By | September 9th, 2017|Categories: Business|0 Comments

Trump signs aid and debt bill over some GOP objections

WASHINGTON (AP) " Congress on Friday sent President Donald Trump a massive package of $15.3 billion in disaster aid linked to an increase in the nation's borrowing authority that angered conservative Republicans who hissed and [...]

By | September 9th, 2017|Categories: Business|0 Comments

Democrats on rise after cutting funding deal with Trump

WASHINGTON (AP) " Congressional Democrats are getting a boost after months of playing political defense. And they have President Donald Trump in part to thank for it.Democratic leaders in the House and Senate cut a [...]

By | September 9th, 2017|Categories: Business|0 Comments

AP Exclusive: Flooding threatens toxic sites as Irma nears

MIAMI (AP) " Dozens of staff from the Environmental Protection Agency are working to help secure some of the nation's most contaminated toxic waste sites as Hurricane Irma bears down on Florida. The agency said [...]

By | September 9th, 2017|Categories: Business|0 Comments

The Latest: Regulators, politicians criticize Equifax

NEW YORK (AP) " The Latest on the massive breach at credit monitoring company Equifax (all times local):2 p.m.:Washington regulators and politicians swiftly criticized Equifax over the exposure of 143 million Americans' personal... Source: NZ [...]

By | September 8th, 2017|Categories: Business|0 Comments

Hisses, booing as Trump officials sell debt deal to GOP

WASHINGTON (AP) " House Republicans hissed and booed senior Trump administration officials Friday as they pitched President Donald Trump's deal with Democrats to increase the nation's borrowing authority.Conservatives have demanded... Source: NZ Herald Business News

By | September 8th, 2017|Categories: Business|0 Comments

US rig count increases by 1 this week to 944

HOUSTON (AP) " The number of rigs exploring for oil and natural gas in the U.S. increased by one this week to 944.That's up from the 508 rigs that were active a year ago.Houston oilfield [...]

By | September 8th, 2017|Categories: Business|0 Comments

Target announces lower prices, shares fall

NEW YORK (AP) " Target says it is discounting thousands of products throughout its stores, sending its stock down and dragging most of the retail sector with it.Retailers in general have struggled to compete with [...]

By | September 8th, 2017|Categories: Business|0 Comments

APNewsBreak: US taxpayer money misused for water project

SAN FRANCISCO (AP) " The U.S. government improperly spent $84 million to help plan for a massive project to ship Northern California water to Southern California, a new federal audit said.Federal officials gave the taxpayer [...]

By | September 8th, 2017|Categories: Business|0 Comments

The three words that brought down a $36m company

"White monopoly capital."For the spin doctors who represented the likes of Syria's first lady Asma al-Assad, Chilean dictator Augusto Pinochet and convicted murderer Oscar Pistorius, these three words finally crossed the line.Bell... Source: NZ Herald [...]

By | September 8th, 2017|Categories: Business|0 Comments

China's exports cool in August while imports accelerate

BEIJING (AP) " China's export growth weakened in August as global demand softened while imports showed unexpected strength despite expectations of a slowdown in the world's second-largest economy.Exports rose 5.5 percent over a... Source: NZ [...]

By | September 8th, 2017|Categories: Business|0 Comments

Equifax breach exposes 143 million people to identity theft

SAN FRANCISCO (AP) " Credit monitoring company Equifax has been hit by a high-tech heist that exposed the Social Security numbers and other sensitive information about 143 million Americans. Now the unwitting victims have to [...]

By | September 8th, 2017|Categories: Business|0 Comments

Billionaire Richard Branson emerges from wine cellar bunker after Irma 'devastated' his private island

Sir Richard Branson, the billionaire founder of the Virgin Group who said he would ride out Hurricane Irma from his 74-acre private island in the Caribbean, has emerged from his fortified wine cellar unscathed."All of [...]

By | September 8th, 2017|Categories: Business|0 Comments

More students attend 2nd year of Schwarzman China program

BEIJING (AP) " A study program at an elite Chinese university that was inspired by the prestigious Rhodes Scholarship launched its second year Friday with an endowment of more than $500 million and a considerable [...]

By | September 8th, 2017|Categories: Business|0 Comments

The Big Read: The world of rare collectables

It's every collector's dream: an early Colin McCahon at the back of their grandparents' attic, or an unopened copy of Sgt. Pepper's Lonely Hearts Club Band in the $1 bin at a garage sale.But what [...]

By | September 7th, 2017|Categories: Business|0 Comments

An alternative to compulsory employee contributions

By Aaron Gilbert and Ayesha Scott The findings of the ANZ research into KiwiSaver present some very interesting conclusions. First, 60 per cent of the respondents were in favour of making KiwiSaver compulsory. Second, participation... [...]

By | September 7th, 2017|Categories: Business|0 Comments

John Drinnan: TVNZ sure cost won't repeat

TVNZ is confident that its programming deal with Warner Bros will remain commercially viable, after making a $12.4 million provision for future losses on its Disney content contract.TVNZ paid dearly for Disney rights about two [...]

By | September 7th, 2017|Categories: Business|0 Comments

Brian Fallow: Home building hits a roadblock

For the second quarter in a row, construction activity has declined - albeit from a high level - supporting anecdotal evidence that the sector is up against capacity constraints.So it is a worry that official [...]

By | September 7th, 2017|Categories: Business|0 Comments

Stock Takes: Election winners and losers

With the election looking more likely to be a closely run race Stock Takes thought it was timely to look at the stocks which might win or lose should Labour be in a position to [...]

By | September 7th, 2017|Categories: Business|0 Comments

AP Exclusive: Most Florida flood zone property not insured

FORT LAUDERDALE, Fla. (AP) " As Hurricane Irma bears down on Florida, an Associated Press analysis shows a steep drop in flood insurance across the state, including the areas most endangered by what could be [...]

By | September 7th, 2017|Categories: Business|0 Comments

Asia shares mixed, markets weigh US debt deal, Korea tension

HONG KONG (AP) " Asian stocks were mixed Thursday as investor relief over a deal on the U.S. borrowing limits was offset by uncertainty over the departure of a senior Fed official and lingering North [...]

By | September 7th, 2017|Categories: Business|0 Comments

College buys Maserati, Porsche for students to strip apart

A college in central China has bought over 20 luxury cars - including a Maserati and Porsche - for more than 10 million yuan (US$1.5 million) so its students can take them apart and put [...]

By | September 7th, 2017|Categories: Business|0 Comments

NZ dollar gains vs Australian dollar

The New Zealand dollar rose against the Australian dollar after weak economic data across the Tasman but was little changed against the greenback ahead of the European Central Bank's monetary policy statement. The kiwi was [...]

By | September 7th, 2017|Categories: Business|0 Comments

Wet winter devastates potato crop

An unprecedented wet season has caused potatoes to rot in the ground before they could be harvested, with one Horowhenua farmer losing 100 tonnes from a single paddock.Opiki potato farmer, Mike Moleta has been working [...]

By | September 7th, 2017|Categories: Business|0 Comments

Trump's harsh message to immigrants could drag on economy

WASHINGTON (AP) " James Harrison, the owner of a Phoenix-based specialty construction firm, employs three workers protected by an Obama-era immigration program that the Trump administration took steps Tuesday to eliminate .Should... Source: NZ Herald [...]

By | September 6th, 2017|Categories: Business|0 Comments

Past disasters show a long recovery for small businesses

NEW YORK (AP) " After Hurricane Katrina hit New Orleans in 2005, an antique store needed more than six years to fully recover. A Long Island restaurateur couldn't reopen one of his locations for a [...]

By | September 6th, 2017|Categories: Business|0 Comments

Business leaders support increased employer contributions to KiwiSaver

Business leaders support increasing employer contributions for KiwiSaver, a survey shows.The survey of more than 2000 New Zealanders released at the Financial Services Council's annual conference today revealed overwhelming public... Source: NZ Herald Business News

By | September 6th, 2017|Categories: Business|0 Comments

Hurricane impacts talks between pipeline company, state

BISMARCK, N.D. (AP) " Hurricane Harvey has impacted the pace of negotiations between the company that built the Dakota Access oil pipeline and North Dakota regulators investigating potential violations of state rules during construction.Public... Source: [...]

By | September 6th, 2017|Categories: Business|0 Comments

Trump agrees to 'very good' deal to fund gov't, raise debt limit for 3 months, after 'cordial' meeting with lawmakers

WASHINGTON (AP) " Trump agrees to 'very good' deal to fund gov't, raise debt limit for 3 months, after 'cordial' meeting with lawmakers. Source: NZ Herald Business News

By | September 6th, 2017|Categories: Business|0 Comments

Asian markets lower as caution prevails over security risks

SEOUL, South Korea (AP) " Asian stock markets were lower Wednesday as investors found ample reasons to stay away from risky assets amid tensions on the Korean Peninsula and the powerful hurricane approaching the United [...]

By | September 6th, 2017|Categories: Business|0 Comments

Australia marks 26 years since recession with growth data

CANBERRA, Australia (AP) " Australia's economy has grown for 26 years without a recession, an extraordinary achievement in a volatile world still aching from the global financial crisis.But many Australians feel they don't share... Source: [...]

By | September 6th, 2017|Categories: Business|0 Comments

NZ shares up as yield appeals, Sky TV and A2 gain

New Zealand shares rose, with Sky Network Television bouncing back from lows and A2 Milk Co advancing to a new record.The S&P/NZX50 Index gained 12.81 points, or 0.2 percent, to 7,790.21. Within the index, 23 [...]

By | September 6th, 2017|Categories: Business|0 Comments

NZ dollar loses sheen as Australia growth weighs

The New Zealand dollar eased slightly after economic growth across the Tasman was slightly disappointing although ongoing tensions in the Korean Peninsula kept it from losing too much ground. The kiwi traded at 72.25 US [...]

By | September 6th, 2017|Categories: Business|0 Comments

Chocolate gets first new colour in 80 years

A breakthrough by a Swiss chocolate maker expands the industry's hues beyond just dark, milk and white.Barry Callebaut AG, the world's largest cocoa processor, has come up with the first new natural colour for chocolate [...]

By | September 6th, 2017|Categories: Business|0 Comments

Waste Management launches electric rubbish truck

Rubbish morning was a whole lot quieter for a lucky route in Christchurch this week after Waste Management piloted its first electric kerbside collection truck.The company's fleet contracted to the Christchurch City Council is the... [...]

By | September 5th, 2017|Categories: Business|0 Comments

Housing inventory levels creep lower as would-be sellers watch market

Housing inventory has crept slightly lower as would-be sellers remain cautious about the market. The latest stats from Realestate.co.nz showed fewer new listings this month, down 1.6 per cent on the previous month, and down [...]

By | September 5th, 2017|Categories: Business|0 Comments

Kiwi firm Allbirds raises almost $40m

Kiwi merino footwear brand Allbirds has secured a further $24 million in funding after raising just under $10 million in September.The new capital investment takes the company's total investment since it was launched in 2015 [...]

By | September 5th, 2017|Categories: Business|0 Comments

Police chief urges newspaper not to publish arrest logs

PROVIDENCE, R.I. (AP) " A Rhode Island police chief says he has tried to keep crimes out of the local newspaper because it embarrasses people. The Providence Journal reports that Block Island Chief Vincent Carlone... [...]

By | September 5th, 2017|Categories: Business|0 Comments

Amazon launches African-American video-on-demand service

NEW YORK (AP) " Amazon is launching Brown Sugar, a subscription video-on-demand service that features what it calls the biggest collection of the baddest African-American movies of all time.Brown Sugar offers films such as "Shaft,"... [...]

By | September 5th, 2017|Categories: Business|0 Comments

Hyundai Motor's China plant halts again on supply disruption

SEOUL, South Korea (AP) " Hyundai Motor Co. said its China plant halted operation due to a supply disruption on Tuesday, its second shutdown in China in less than a month as diplomatic tensions between [...]

By | September 5th, 2017|Categories: Business|0 Comments

NZ shares down on election, North Korea fears

New Zealand shares fell, dragged lower by election uncertainty and geopolitical fears, with Auckland Airport dropping to an eight-month low and Trade Me Group falling.The S&P/NZX50 Index dropped 30.82 points, or 0.4 per cent, to... [...]

By | September 5th, 2017|Categories: Business|0 Comments

NZ dollar falls against Aussie on Australian data

The New Zealand dollar fell in a see-saw day against the Aussie after Australian trade data, a central bank statement and ongoing jitters about North Korea's military ambitions.The kiwi was trading at 90.01 Australian cents [...]

By | September 5th, 2017|Categories: Business|0 Comments

China has tools to pressure Kim but worries of consequences

BEIJING (AP) " China has the economic tools to pressure North Korea but fears pushing Kim Jong Un's government so hard it collapses.Though China has long been the North's main trading partner and diplomatic protector, [...]

By | September 5th, 2017|Categories: Business|0 Comments

Delegat Group names John Freeman as incoming MD

Delegat Group, New Zealand's largest listed winemaker, has named John Freeman as its next managing director.Freeman will act as managing director designate from November 1 and will commence as managing director in July 2018, Delegat... [...]

By | September 5th, 2017|Categories: Business|0 Comments

Oz economy puts pressure on NZ dollar

A stronger Australian economy and election uncertainty in New Zealand is tipped to keep pressure on the Kiwi dollar, which last week hit a 15-month low against the Aussie.The New Zealand dollar was trading at [...]

By | September 4th, 2017|Categories: Business|0 Comments

Joan Withers warns artificial intelligence will change work

Top company chairperson Joan Withers questions if New Zealand is doing enough to equip the next generations with the tools to cope in a highly disruptive business environment."I really worry about the increasing disconnect between... [...]

By | September 4th, 2017|Categories: Business|0 Comments

Politics dominate summer's last hurrah on Labor Day

Labor Day is a holiday to honor the American worker, but it also has a political bent too.Across the country gatherings and parades invite politicians to march and speak on the day that also marks [...]

By | September 4th, 2017|Categories: Business|0 Comments

ANZ: KiwiSaver missing those who need it most

KiwiSaver may not be reaching the people who most need help with saving for their retirement, claims a report by provider ANZ bank.ANZ, the country's largest KiwiSaver provider, has undertaken in-depth research on KiwiSaver and... [...]

By | September 4th, 2017|Categories: Business|0 Comments

Boeing boosted by ruling throwing out EU claim of state aid

GENEVA (AP) " Boeing notched a key victory in a years-long legal case against its European rival, Airbus, after an international body rejected the European Union's claims that Washington state was giving Boeing illegal tax [...]

By | September 4th, 2017|Categories: Business|0 Comments

NZ shares mixed in quiet market, Sky TV hits lows

New Zealand shares were mixed in subdued trading, with Sky Network Television leading the index lower on concerns about its rugby rights while Heartland Bank and Vista Group International gained.The S&P/NZX 50 Index fell 13.76 [...]

By | September 4th, 2017|Categories: Business|0 Comments

Kiwifruit growers can't sue over Psa damage – QC

A group of kiwifruit growers claiming that negligence by the Ministry for Primary Industries allowed the Psa virus into New Zealand in 2009 isn't legally able to make a damages claim and is wrong about [...]

By | September 4th, 2017|Categories: Business|