New Zealand says Pacific trade deal will boost GDP 1 percent

WELLINGTON, New Zealand (AP) — New Zealand estimates a Pacific trade deal would boost its economy by up to 1 percent as exporters would face reduced tariffs on goods like kiwifruit, wine and beef.The analysis Wednesday came as details... Source: NZ Herald Business News

By | February 21st, 2018|Business|0 Comments

3M settles lawsuit for up to US$1 billion

3M Co has settled a lawsuit with Minnesota's Attorney General Lori Swanson for between US$500 million ($682m) and US$1 billion, according to a person familiar with the matter. The state had sought US$5b for natural resources damage... Source: NZ Herald Business News

By | February 21st, 2018|Business|0 Comments

Sharemarket jumps on A2 Milk's 27% surge

New Zealand shares rose as A2 Milk Co surged on its tie-up with Fonterra Cooperative Group, while Synlait Milk, Fletcher Building and Spark New Zealand dropped.The S&P/NZX 50 Index rose 102 points, or 1.3 per cent, to 8,200.27.... Source: NZ Herald Business News

By | February 21st, 2018|Business|0 Comments

Dollar gains against Aussie after weak Australian construction data

The New Zealand dollar gained against the Aussie after a weak construction survey across the Tasman offset stronger-than-expected Australian wages growth. The local currency continued to lose ground against the greenback.The kiwi... Source: NZ Herald Business News

By | February 21st, 2018|Business|0 Comments

Endgame or classic sacrifice: Stuff's great print jettison

As news broke that Stuff was closing or selling 28 print mastheads, wire service BusinessDesk called it the start of the endgame for the business – a reference harking back to the ominous 2016 warning of Fairfax group chief executive... Source: NZ Herald Business News

By | February 21st, 2018|Business|0 Comments

Employer's 'Lame excuse' for $200k underpayment of staff slammed by judge

A Perth security company that underpaid staff by more than $200,000 offered nothing but a "lame excuse" for its actions.Rockingham-based Sureguard Security Pty Ltd received an $81,270 penalty in the Federal Court as a result of... Source: NZ Herald Business News

By | February 20th, 2018|Business|0 Comments

Uber pulls out of Morocco amid accusations of 'unfair competition'

Uber is pulling out of Morocco — a decision the San Francisco-headquartered company say is linked to the North African country's failure to reform its strict transport rules.For nearly three years, Uber has been operating illegally... Source: NZ Herald Business News

By | February 20th, 2018|Business|0 Comments

City Rail Link tender delayed after bidder pulls out

Auckland's $3.4 billion City Rail Link from Britomart to Mt Eden has been delayed after an unnamed bidder withdrew from the process.Chris Meale, CRL chief executive, released a statement yesterday saying the release of tender documents... Source: NZ Herald Business News

By | February 20th, 2018|Business|0 Comments

Insiders: Russia troll farm even zanier than indictment says

MOSCOW (AP) — A Clinton-Obama sex tape using body doubles. A Facebook page promoting Texas independence riddled with grammatical mistakes. Islamic State anthems blasting out during the nightshift.The U.S. indictment centered on... Source: NZ Herald Business News

By | February 20th, 2018|Business|0 Comments

Chicken shortage continues at KFC

Chicken is still as scarce as hen's teeth at KFC's British outlets.KFC says about 470 of the fried chicken chain's 900 U.K. restaurants remained closed Tuesday because of a chicken shortage. The company says the disruption started... Source: NZ Herald Business News

By | February 20th, 2018|Business|0 Comments