EMA is pleased its long time call for a comprehensive solution to how New Zealand invests in and delivers vital infrastructure projects has made a significant step forward today. Infrastructure Minister, Shane Jones, announced at Infrastructure New Zealand’s Building Nations Symposium a new entity will be established to provide expert advice, planning and strategy to support the delivery of major infrastructure projects across the country. "This has been a long time coming. We commend the Minister for taking the step to effectively create an agency which will have the mandate to pull together the long-term pipeline of our infrastructure needs,"…
Skellerup Holdings, the rubber goods manufacturer best known throughout rural New Zealand for its iconic 'red band' gumboot, lifted annual profit to a record as both its industrial and agri divisions boosted earnings. The shares hit a new high
"Wage growth was still slow over the last year, and though for some it picked up a little from the year before, it is uneven," says CTU Economist Bill Rosenberg commenting on the Labour Markets (Income) statistics released by Statistics New Zealand this morning. Average hourly wages grew 3.1% in the year to June, more than the 2.3% growth last year, while the median (middle) hourly wage grew only 2.9%, which is less than the 3.4% growth last year. "While this period includes a strong increase in the minimum wage on 1 April and the care and support pay equity…
Council of Trade Unions Acting President Rachel Mackintosh said that updated figures out today from Statistics New Zealand show that women are still not being paid their worth and employers are not complying with current equal pay law.
Top three mainland developer China Vanke had a busy month in July, spending more than RMB 25.4 billion to add 33 new real estate projects around the country as it pushed to expand its land bank via project acquisitions in Shanghai, Dongguan, Hangzhou and other locations. Along with the developer’s purchase of land for residential, office and retail development, however, Vanke also expanded its logistics holdings in China by purchasing Swire Cold Chain Logistics from Hong Kong-listed Swire Pacific for just less than RMB 2 billion ($291 million). With the RMB 1.998 billion acquisition of Swire’s set of refrigerated shipping…
Annual revenue and profit are up for transport company Freightways, which remains on the acquisition and expansion trail having bought four small Australian companies for $9.8million reports Simon Hartley in the ODT.
BlueScope Steel's two Kiwi businesses, New Zealand Steel and Pacific Steel, delivered an 84 percent lift in underlying earnings in the year to June 30, outstripping strong gains across the rest of the multi-national Sydney-based business and delivering th
Duncan Coull, Chairman of the Fonterra Shareholders’ Council, has expressed his absolute disappointment with today’s Board decision to reduce the 2017/18 forecast Farmgate Milk Price by five cents to $6.70 per kg/MS in order to support the balance sheet, and the decision to retain more of the Co-op’s earnings which will likely see no further dividend payment to Shareholders over the 10 cents distributed earlier in the year.
The role of small business in the economy is to be enhanced with a new strategy to drive performance and better connect small and medium enterprises with government, large businesses and research institutions.
On August 3, 2018, New Zealand’s primary workplace health and safety regulator announced it would only investigate bullying in the workplace if the victim has been diagnosed as being seriously mentally harmed.
The Government has announced their Mana in Mahi – Strength in Work Scheme, which will provide support payments equivalent to the persons benefit to employers who take on apprentices aged 18 to 24 years, who have been on a benefit for six or more months.
Fonterra Cooperative Group's 2018 earnings may differ from its previous guidance, the country's dominant dairy company said today. Its securities trading on the NZX and ASX have been halted while it crunches the numbers, with an update expected tomorrow . . . .
Newly appointed KiwiRail chair Greg Miller has also been appointed to a five-member working group charged with writing a new upper North Island supply chain strategy to guide the government's desire to integrate port, rail and road transport infrastructure planning for the country's economic and population epicentre.
Seequent, (formerly ARANZ Geo) a developer of revolutionary visual data science software, has been named a finalist in the LPC Champion Medium/ Large Exporter category in the Westpac Champion Business Awards 2018.
A smart watch company co-founded by Sir Ray Avery has launched its wristwear-cum-personal alarm products - albeit without the functions envisioned when the business won a high tech award and $10 million total investments from Spark and Bupa reports Eloise Gibson for Newsroom.
This year’s finalists for the Westpac Champion Business Awards were announced tonight at a function hosted by the Ara Institute of Canterbury at the new Kahukura Building (Engineering and Architectural Studies) located on the Ara Campus.
Steel & Tube Holdings attracted several new investors in the first tranche of a deeply discounted $80.9 million capital raise, which it will use to shore up its balance sheet in a wider restructuring of the steel building products supplier . . . . .
The government is pumping another $3.9 million of co-funding into 19 projects that range from improving the range of electric camper vans to building a series of charging stations as part of its goal to get 64,000 electric vehicles on the road by 2021 . . . . .
In blocking former Leader of the Opposition and Reserve Bank Governor Don Brash from speaking on campus tomorrow, Massey University disgraces an important tradition of free speech on university campuses and a fundamental tenet of a liberal democracy.
Steel & Tube Holdings, the steel supplier whose shares have lost almost a third of their value this year, plans to raise about $80.9 million to repay debt and strengthen its balance sheet as it restructures its business under new management . . . . .
The Government has formally launched its Trade for All agenda, with Jacinda Ardern saying the public’s confidence in trade must be rebuilt. Just another working group, or a savvy play to win back business confidence? Sam Sachdeva reports for Newsroom.
Ten leading businesses are backing a new diagnostic study of New Zealand’s entire plastic packaging system. The work will identify key challenges and interventions for the adoption of a circular economy approach to plastics.
TruRating, who are live in New Zealand, are customer experience experts specializing in point-of-sale customer feedback solutions, and Datacap Systems, the leading integrated payments middleware provider, announced today that TruRating will be launched on Datacap’s point-of-sale platform in Q3 2018.
A pair of family-run Hawke's Bay businesses will be bidding for international attention following big wins at the annual ExportNZ Hawke's Bay ASB Exporter of the Year awards.Woodcut Tools and Rocket-it-Board
The war of tariffs kicked off by the Trump administration’s imposition of aluminium and steel duties earlier this year has put the squeeze on Canadian microbreweries, leading some to cut production for lack of aluminium beer cans.
Tapware designer Methven's shares lifted 5 percent after news it has inked a deal with China's Jiangsu RuiZhiShang Building Materials Company to use its shower technology in a series of key projects over the next decade
Murray Sherwin, Chair of the New Zealand Productivity Commission, welcomes a new project with the Australian Productivity Commission into Growing the digital economy and maximising opportunities for small and medium sized enterprises (SMEs).
PGG Wrightson has agreed to sell its seed and grain business to Danish cooperative DLF Seeds for $421 million in cash and $18 of debt repayment, and signalled it may return up to $292 million to its shareholders . . . . .
A major upgrade to Auckland’s main water treatment plant in Mangere took top honours at the Civil Contractors New Zealand’s (CCNZ) national awards in Hamilton last night. Other awards went to projects across the country, ranging from the Chatham Islands to the banks of the Waikato River.
"Alan Hill pay your bills." Aviv Jones of family trucking business Trucks 4 Hire couldn't be clearer on what she expects from the director of Intercivil, a civil construction business, which was put into receivership by the BNZ, and then liquidation by the courts.
The Gisborne-based business was presented with the award by the Head of Trade Finance at ASB Bank, Mike Atkins, at the sold-out awards dinner last night at the Napier Conference Centre. Earlier in the evening, Cedenco had won the inaugural T&G Global Best Medium to Large Exporter Award. An impressive commitment to product development and innovation has seen fruit and vegetable manufacturer Cedenco Foods New Zealand named as ExportNZ Hawke’s Bay ASB Exporter of the Year. The Gisborne-based business was presented with the award by the Head of Trade Finance at ASB Bank, Mike Atkins, at the sold-out awards dinner…
Today, at the Future of Work Tripartite Forum’s first meeting, the group endorsed a proposal by The Manufacturers’ Network to run a pilot programme investigating the Skills Shift in the manufacturing sector.
The government's first tripartite 'Future of Work' forum, bringing together policymakers, business leaders and unionists, discussed upcoming education needs and ways to overcome the country's lacklustre productivity . . . . . .
A micro-credential system introduced by the New Zealand Qualifications Authority will help ensure that New Zealand businesses can access employees with the skills they need in a world that is rapidly changing, says BusinessNZ.
Tourism New Zealand is heralding new opportunities for associations, academia and professional conference organisers to work together to promote New Zealand as a business events destination favoured by Asia Pacific organisations.
Economists are tipping the second-quarter unemployment rate to remain steady but some say Wednesday's data may point to signs of wage inflation as the impact of a lift in minimum wage kicks in and migration continues to slow . . . .
Many owners underestimate how much work goes into running their own small firm, research finds. Being a small business owner is a lonely position to be in says the new chief executive of Business Mentors New Zealand.
New Zealand has tumbled from top to bottom of the OECD business confidence rankings with the most recent data revealing New Zealand has the second lowest level of business confidence in the developed world, National’s Finance Spokesperson Amy Adams says.
“The importance and value of arm’s length infrastructure advice to Government to assist infrastructure decision-making will be the keynote topic at this year’s Building Nations Symposium,” says Stephen Selwood CEO of Infrastructure New Zealand.
Head of Biosecurity New Zealand, Roger Smith, and Deputy Secretary responsible for Australian biosecurity, Lyn O’Connell, meet in Canberra yesterday to exchange letters of cooperation between the two countries on exploring emerging technologies to better manage biosecurity risk.
As the major shareholder in iconic New Zealand smallgoods manufacturer Hellers, we are very pleased to inform you that Hellers has acquired Moira Mac’s, a leading Australian manufacturer of chilled, ready-to-eat poultry.
The value of annual imports rose $374 million more than exports, pushing the June 2018 annual trade deficit to $4.0 billion, Stats NZ said today. This is the largest trade deficit for a June year in a decade.
new zealandThe deadly lung disease striking down tradies in Australia is said to be looming over New Zealand too. There has been an alarming spike in cases among Aussie tradies believed to be linked to silicosis – a toxic dust dubbed "the new asbestos".
LINX Cargo Care Group, and its subsidiary C3 Limited, announced today that it has been successful in its bid to acquire Pedersen Group, a market leading provider of wood chipping and woodyard management services to pulp and paper mills, and forest owners in Australia and New Zealand.
With the Government coming under increasing pressure to loosen its self-imposed fiscal cap and borrow to fund the public service in particular, the EMA encourages the Minister of Finance to hold tight to the pledge that has been made.
Smiths City Group will make sure its 591 workers are all earning at least the living wage from October and will let employees use a day of sick leave every year for their own well-being as the retailer works harder to get onside with its staff
Funds from the sale of Hawkins Construction to Downer EDI were recycled back into the leftover businesses to settle a claim on a major project, wind down the remaining projects, and prepare for a growing number of legal disputes, the receiver says
E tū is welcoming the decision of the Court of Appeal to turn down an appeal application from global airline catering company LSG SkyChefs, cementing an important legal victory for New Zealand workers.
EMA believes the series of recent business-related commentary on low productivity, business confidence dropping and inflation rising, adds to its call for a rethink on the Employment Relations Amendment Bill and other industrial relations legislation.
Extending its antipodean buying spree, Logos Property has agreed to acquire a 10-hectare site in Auckland to develop a 55,000-square-metre logistics facility. The deal, the first in the country for the regional warehouse developer, comes after a rush of transactions in Australia and amid intense competition and fast growth.
The establishment of the Climate Leaders Coalition, a joint initiative of sixty New Zealand businesses who together represent just under half of this country’s emissions, is an unprecedented move towards solving climate change.
The Reserve Bank is recruiting for a new Head of Communications following Mike Hannah’s decision to leave the role after 16 years of service. Mr Hannah will remain with the Reserve Bank as Board Secretary, and is pursuing other opportunities.
LOGOS has announced that it is expanding its Asia Pacific business into New Zealand with the acquisition of a property in Auckland from Fletcher Concrete and Infrastructure Limited, a subsidiary of Fletcher Building.
Steel & Tube Holdings' new chief executive Mark Malpass says the company paid too much enter the irrigation sector, struggled to compete against bigger rivals and ended up writing off its investment to return focus to its core steel business
What would happen to the banking system if a downturn in the Chinese economy caused a fall in New Zealand exports, rising unemployment, falling house prices, and three years of low payment to dairy farmers?
Air New Zealand has slammed the "ravages of airport pricing behaviour" in New Zealand in support of changes to the Commerce Act it says would help curb airport owners' charging and cut air travel costs for passengers
New Zealand farmer confidence slid in the past quarter amid concern about the impact of Mycoplasma bovis cattle diseaseon the country’s agricultural sector, with the number of farmers expecting conditions to improve now only just outweighing those
Seven out of 10 Kiwi businesses want New Zealand to take action on limiting greenhouse gas emissions, though there’s less agreement on the way to achieve it, a survey of more than 1,200 business leaders commissioned by Westpac Banking Corp showed
New Zealand Post, the national postal service first established in 1840, is undergoing the biggest upheaval in its history as technological change reduces letter volumes and stokes demand for parcel services, which are often more expensive to manage
Ensuring that employment practices are free from gender bias, that pay rates are transparent and that the role of unpaid work is finally recognised, are among new Principles launched today to help workers and employers eliminate the gender pay gap in the state sector.
E tū says thousands of its members are expected to benefit from the Government’s Families Package, which cames into effect 1 july. The package includes: widening eligibility for key benefits including Working for Families which will increase for many wider access to the Accommodation supplement and an increase for eligible people in expensive locations such as Auckland and Hamilton a Winter Fuel benefit A lift in the Family Tax Credit and an increase in the abatement threshold. Best Start payments for families with a new baby. The implementation of the package also coincides with the extension of Paid Parental Leave…
WASHINGTON, D.C. – The Fair Labor Association (FLA), a collaborative effort among brands, universities and civil society organizations to improve working conditions and protect workers’ rights, announced today that New Zealand outerwear brand Kathmandu Holdings and Pou Chen Group – a leading footwear manufacturer in Taiwan – have received accreditation for their social compliance programs. Each company was recognized for advancements in their social compliance programs that work to uphold fair labor standards in their supply chains.
The Reserve Bank today announced the 2019-2020 dates for releasing its quarterly Monetary Policy Statements (MPS), Official Cash Rate (OCR) decisions, and the six-monthly Financial Stability Reports (FSR).
The government is looking at giving commercial property developers access to finance at low interest rates if they build vital infrastructure to support new homes, says housing and urban development minister Phil Twyford
Ravensdown, the farmer-owned fertiliser cooperative, expects its new aerial imaging tool to be commercially available within two years, opening the door to what it calls “soil testing from the sky”. . . .
EMA is asking the coalition Government MPs to explain how the old world thinking of the proposed Employment Relations Amendment Bill will deliver the productive, high growth economy they say they want.
The Serious Fraud Office and Reserve Bank of New Zealand are each investigating matters relating to CBL Insurance and associated entities. The Reserve Bank is co-operating with the Serious Fraud Office investigation. The Reserve Bank is also co-operating with the Financial Markets Authority’s investigation relating to issues of market conduct and disclosure by CBL Corporation. No further comment on these investigations will be made at this time. Further reporting: ShareChat
New Zealand's regional economic confidence rose marginally in the quarter ending June, with only six of the country's 11 regions showing an improvement over the previous quarter, as pessimism in Auckland grew and optimism cooled in three key dairy and oil . . .
Trade Me CEO Jon Macdonald has announced he intends to step away from the company in approximately six months. This will bring to a close a tenure that started in 2003, including more than a decade as CEO.
The BusinessNZ Planning Forecast for the June 2018 quarter shows that though many key economic indicators remain on the positive side of the ledger, there are a number of risks that could undermine what is currently a generally healthy outlook.
New Zealand structural log prices rose to the highest level for 25 years as local mills compete with the export market to secure supply for the domestic construction market amid strong demand from China . . .
Air New Zealand’s latest initiative to reduce inflight waste has seen more than 132 tonnes diverted from landfill in its first nine months – the equivalent weight of three of the airline’s A320 aircraft.
Council of Trade Unions President Richard Wagstaff today congratulated the Government, the Public Service Association and E tū - and also providers - on a deal that rightly puts mental health and addiction support workers back into the pay equity settlement they were left out of last year.
Steel & Tube Holdings said it agreed to a $21.1 million sale-and-leaseback deal of its Blenheim Road property in Christchurch, a key distribution hub for the company, as part of its restructuring efforts to raise working capital and pay down debt
Fletcher Building's outgoing chair Ralph Norris announced the board's audit and risk committee chair Bruce Hassall will succeed him when he steps down from the troubled building company in September . . .
Fletcher Building chief executive Ross Taylor said the company expects to take restructuring charges of $85 million to $95 million in its 2018 results as it moves to a decentralised operating model with more divisions and will also write down the value of its Rocla and Roof Tile businesses.
Fonterra Cooperative Group is satisfied Beingmate Baby & Child Food is taking the right steps to deal with a labelling issue after getting caught out in a widespread audit by Chinese regulatory authorities
Deputy Prime Minister Winston Peters doubled down on last week's New Zealand First party attacks on the performance and leadership of Fonterra, saying the country's largest business was costing the economy more than $2 billion from food safety and animal . . .
Bunnings, the hardware chain owned by Australia's Wesfarmers, will pay more than $11 million to 12,235 New Zealand past and current employees after identifying mistakes in implementing the Holidays Act 2003
The rapid rise of tech companies working in the insurance market and investment by traditional insurance firms into new advanced technologies is expected to lead to better deals for customers in coming years, InsurTechNZ chair Jason Roberts says.
Seed funding of $US20 million ($NZ28.5 million) has been secured by Australian company Plaman Global, which is proposes to mine more than 30 million tonnes of a rare organic black diatomite near Middlemarch, Central Otago. Diatomite is processed into fertiliser pellets.
The Council of Trade Unions President Richard Wagstaff congratulated Living Wage Aotearoa and the Government for moving to a living wage of at least $20.55 an hour by the first of September for all people employed in the core public service.
Energy and Resources Minister Megan Woods has defended the government’s decision not to issue new offshore oil and gas exploration permits despite it going against official advice, saying she didn’t think officials had taken into account the changing world we live in.
The Commerce Commission has opened an investigation to determine whether Fulton Hogan's proposed acquisition of Stevenson Group construction materials business will lessen competition in any relevant market
Are you in the situation where you have time on your hands? Maybe you have recently retired from the workforce but would still like to keep in touch with your colleagues, peers and business associates.
Emirates SkyCargo, the freight division of Emirates and the largest international cargo airline, has signed an MoU with Cainiao Smart Logistics Network Ltd. ("Cainiao"), the logistics arm of the Alibaba Group, to jointly facilitate the delivery of cross-border parcels as Cainiao looks to expand its global logistics infrastructure with Dubai as a hub.
Danone plans to increase its investment in New Zealand infant formula manufacturing by acquiring up to 49 percent of Yashili New Zealand Dairy Co, the local unit of China Mengniu Dairy, according to a filing in Hong Kong
Jason Paris, currently Vodafone Group's director for convergence acceleration, Africa, Middle East and Asia Pacific region, will succeed long-serving local head Russell Stanners, who is stepping down from his role as Vodafone New Zealand chief executive at the end of October
Britain's Rolls-Royce said a costly compressor problem that had grounded Boeing planes had now been found in a different type of engine, compounding pressures on a group that is due to cut more than 4,000 jobs this week.
Applications open today for scholarships aimed at boosting the power of New Zealand’s business managers, with a change in focus from earlier years to include a wider range of Kiwi businesses. The Prime Minister’s Business Scholarships provide an opportunity for managers to gain valuable skills and experience by undertaking world-class executive education at international business schools. While they were previously aimed at exporters and internationalising New Zealand-based firms, the criteria have been expanded to include domestically-focused firms that can take advantage of New Zealand’s competitive advantage, such as in areas like agricultural technology. There is also a particular focus on…
Council of Trade Unions President Richard Wagstaff said that he was disappointed in the National Party’s knee-jerk response to the Government’s announcement of the Fair Pay Agreement working group yesterday.
British American Tobacco Holdings (New Zealand), the nation's biggest tobacco company by market share, paid a little-changed $1.1 billion in excise duty last year while also declaring a special dividend of $227 million, using retained proceeds of its sale
Ravensdown Aerowork specialises in aerial applications, for example fertiliser spreading, which it can perform across all terrains. With this implementation of a comprehensive aviation software suite, the first in 70 years of operation, RA has embraced digitized operations.
IRI, the big data and technology expert for consumer industries, has announced the appointment of Craig Irwin as Managing Director for New Zealand. Craig Irwin joins IRI from Fonterra in New Zealand and brings over 20 years of experience in the FMCG sector across Australia, New Zealand and the UK. During his career, Craig has held senior management roles within Fonterra Brands, Frucor Suntory Beverages and Pharmacare Laboratories (Australia).
A lack of recycling facilities means NZ must continue to send plastics and other recyclables overseas and rubbish is mounting at small landfills across the country after China stopped accepting New Zealanders' plastic in January writes Madison Reidy for Stuff.
DB Breweries paid $30.5 million for Kapiti boutique beer maker Tuatara Brewing Co last year as the country's major liquor companies beef up their craft beer credibility to reach consumers with a taste for high-end brews
Waste Management NZ, the nation's biggest such company, says there isn't a quick fix for the impact of Chinese restrictions on waste imports after the government announced a task force to respond to a move that operators say has sucked the profits out of . . .
Fletcher Building's Laminex NZ unit has exited a 10-year investment in a Southland medium density fibreboard plant with Tokyo Stock Exchange-listed Daiken getting clearance to buy the 124ha site at Mataura, Southland
New Zealand's economic growth is set to continue to beat the average of the 35 member countries of the Organisation for Economic Cooperative and Development, as activity shifts away from consumption and towards investment
Small Business Minister Stuart Nash has encouraged Wellington businesses to take advantage of new government initiatives, especially in the digital space, to make their jobs easier and free them up to focus on their products and services.
New Zealand’s financial system remains sound. The banking system holds sufficient capital and liquidity buffers, guided by our prudential regulatory requirements. These buffers reduce New Zealand banks’ exposure to adverse shocks.
Steel & Tube Holdings is unlikely to pay a final dividend this financial year and may have to raise equity as its earnings and debt come under pressure, according to research house Craigs Investment Partners
Airlines are frustrated at the quality of service at Auckland Airport. Justin Tighe-Umbers, executive director of the Board of Airline Representatives of New Zealand (BARNZ) says his members expect their passengers to have a high-quality experience at the airport, yet it is increasingly clear to the travelling public that they are getting a substandard service.
Philippines-based poultry group Bounty Fresh Foods has sent the offer document for its $437.8 million takeover bid for NZX-listed Tegel Group to all shareholders and said the minimum acceptance condition will be satisfied
Synlait Milk (NZX: SML; ASX: SM1) is pleased with the progress made on the building of its advanced liquid dairy packaging facility by Tetra Pak. The two companies have worked together for over ten years, beginning with the building of Synlait’s anhydrous milkfat (AMF) plant in 2007. The new facility will produce fresh milk and cream for Foodstuffs South Island's private label brands from early 2019, and will be a platform for Synlait to pursue a range of dairy-based products for export markets. Tetra Pak is a subsidiary of the Tetra Laval Group, which is a multinational food packaging and…
First NZ Capital grows dark on Fonterra as capital spend fails to spur earnings. First NZ Capital has cut its rating on Fonterra Shareholders' Fund units as the dairy cooperative's seeming inability to convert capital investment into earnings growth and poor track record in adding value raises questions over its ability to retain domestic suppliers
Renew Energy Ltd chief executive David McGregor says the Chinese investor is "ready to go". The company behind a controversial plan to build a waste to energy plant on the West Coast has signed a $300 million deal with a Chinese investor writes Joanne Carrol for Stuff Businessday
Consensus is a Kiwi startup that launched this year with the intention to revolutionise its industry. The company offers effectively an ‘online marketplace of lawyers’ to make using legal services significantly less daunting with fixed up-front fees and a client-centric focus.
Steel & Tube Holdings expects to post a loss this financial year and breach its banking covenants after a restructuring that will see it exit its plastics business and write down the value of its assets
Callaghan Innovation CEO Victoria Crone says the organisation is ready to “pivot” to accommodate the Government’s new direction for investing in R&D - moving away from grants in favour of tax incentives.
Fulton Hogan has bought Stevenson Group's construction materials units for an undisclosed sum, adding two quarries, four concrete plants and a lab testing facility at a time when infrastructure work is tipped to keep growing over the coming five years
ERoad returned to profit after beating annual earnings guidance as North American sales more than doubled once the logistics and fleet management firm overcame strong lobbying to delay a favourable regulatory system for its services
Waste Management, New Zealand's biggest waste collection and recycling company, drove up sales and profit last year as economic growth underpinned volumes of industrial and construction sector waste and it added landfill capacity
Bad headlines about Fletcher Building from some segments of the media have overshadowed a business with "healthy prospects" and a new management team that is "a catalyst for change", says listed investment fund Kingfish
Christchurch Airport and Auckland Tourism, Events and Economic Development (ATEED) have signed a memorandum of understanding which will help New Zealand businesses tap into Chinese e-commerce platform Alibaba.
MBIE’s Pacific Economic Development Unit is encouraging Pasifika people to consider careers in the Information Computer Technology (ICT) world. The initiative forms part of TechWeek 2018 activities, TechWeek will run from 19 – 27 May 2018.
A team from the University of Otago, Wellington has just published a radical new framework for designing international trade and investment treaties. This framework is intended to assist policymakers worldwide in designing new treaties, and to help ensure that health, social and environmental objectives are included.
A Kiwi platform which helps New Zealanders invest in cryptocurrencies is looking for investors of its own as it launches a $1m funding round in Wellington on Wednesday. Invsta, a product created by online financial services company Ilumony, is taking part in the Kiwibank FinTech Accelerator: the second Kiwibank-sponsored Lightning Lab business accelerator focused on FinTech companies.
Food giant Heinz Wattie's is looking to cut more than 40 jobs in Hawke's Bay as part of an international push for efficiency and savings, but says it expects all redundancies to be voluntary. Just two months after the company, which is part of global food company Kraft Heinz, received permission to buy the food and instant coffee business of fellow food company Cerebos Gregg's, it confirmed to Hawke's Bay Today that it had identified potential staff redundancies.
Orange-H Group, the McConnell entity set up to run down the residual Hawkins assets after the sale to Downer Group, has been tipped into receivership by its shareholder and creditor just 10 days after being ordered to pay $13.4 million over a leaky school
Tilt Renewables, the wind and solar generation facilities which split from Trustpower in 2016, posted an annual loss and trimmed dividends as a lack of wind in New Zealand and Australia stifled generation at its windfarms
“The Government’s announcement that this year’s Budget will allocate $42 billion to capital investment over 5 years will provide a welcome boost for regional and urban development, but speed in establishing a specialised strategic procurement agency is now a priority to ensure projects are sequenced and delivered at best value,” said Stephen Selwood CEO of Infrastructure New Zealand. “Details of the exact programme will become clear on Budget day, but with major investment needs in health, education, justice, housing and of course transport, the challenge for the Government will be getting best value out of its programme. “There is a…
Scales Corp will sell its cold storage businesses to newly-incorporated US cold chain company Emergent Cold for $151.4 million as it shifts to a greater focus on pure agribusiness. "We have identified our strengths as (1) operating fully-vertically integrated agriculture businesses, (2) participating in businesses with an export focus, and (3) adding value through connections to the China market," said Chairman Tim Goodacre in a statement to the NZX.
Garry Diack, Tait Communications’ Chief Executive, says “After three-plus years of targeted technology development, Tait Communications is breaking new ground in the fast-evolving digital space for mission critical communications.
Chief Executive Kirk Hope and Employment Manager Paul Mackay will present BusinessNZ's oral submission on the Employment Relations Amendment Bill:- Education and Workforce select committee, Select Committee Meeting Room 1, Bowen House - 10.00 - 10.30 am Wed 9 May
Tru-Test Corp plans to shed the bulk of its businesses, signing a conditional deal to sell its retail solutions and milk meter divisions, amounting to 85 percent of group revenue, to Switzerland-based Datamars
Air New Zealand’s sustainability efforts have been recognised for the second consecutive year in the 2018 Annual Review of the State of CSR (corporate social responsibility) in Australia and New Zealand, with the airline taking out a New Zealand CSR Top 5 Award.
Billionaire Peter Thiel's venture capital firm Founders Fund is backing a startup that aims to bring Wall Street electronic trading expertise to the bitcoin market, the Wall Street Journal reports. Tagomi Systems expects to be the bitcoin version of a broker-dealer, executing orders to buy or sell …
More than one billion litres of water could be bottled and shipped to China from Otakiri Springs. A chinese-owned water bottling company's bid to bottle three million litres of drinking water each day from a Bay of Plenty spring as come under fire from iwi for being against Tangata Whenua.
New Zealand is the least corrupt country in the world, but it needs to learn from larger fintech markets like Australia, Singapore and London and more rapidly adapt to technologies such as like blockchain and crypto-currencies, a Kiwi fintech expert says.
This is a supplied media release. Newly appointed general maanger Rowland Ong has extensive experience in food and supplement manufacturing, including holding senior management and consulting roles within New Zealand's complementary medicines / health supplement industry for over a …
Apr 27 - Women make up only an estimated 10% to 15% of the New Zealand financial industry, with female representation at senior management levels estimated to be even lower. This is despite research that suggests gender diversity across job grades and functions delivers benefits to businesses, the economy and society.
Apr 27 - The Ministry of Business, Innovation and Employment (MBIE) has released its New Zealand Trade Intelligence Dashboard that illustrates New Zealand’s trade, investment and visitor flows with all its trading partners.
Apr 26 - Alibaba Group chief executive Daniel Zhang will meet with business leaders and government agency heads, but doesn't have any formal ministerial meetings planned during his trip to New Zealand . . .
Apr 23 - Rocket Lab founder and chief executive Peter Beck says a shortage of venture capital in New Zealand and pressure to stay in this country is putting the brakes on innovation for other companies. His 12-year-old company has raised the bulk of about $200 million in the United States to fund development …
Apr 19 - Bitcoin may fail the definition of money because of its volatility and central banks may be better to get behind digital currencies that have a fixed exchange rate into cash, says Reserve Bank of New Zealand senior economic analyst Amber Wadsworth
The New Zealand government has proposed phasing out the Growth Grant administered by Callaghan Innovation and introducing a 12.5 percent research and development tax incentive in a discussion document released today.
Apr 17 - Fletcher Building plans to raise $750 million in an underwritten offer to shareholders at a deep discount and sell its Formica and steel roof tile businesses, strengthening its balance sheet and gaining support from its banking syndicate after a breach of . . .
Apr 16 - A2 Milk Co has signed an exclusive distribution deal with Yuhan Corp in South Korea, more than a decade after an earlier foray into that country which ended in litigation. The milk marketing firm's shares rose 1.3 percent
Apr 16 - Comvita, the NZX-listed manuka honey company, foreshadowed that it may be the subject of a takeover, with an unidentified third party currently undertaking due diligence to assess the business
Apr 16 - Ellerston Capital's interest in Fletcher Building has topped 5.1 percent, requiring the Australian fund manager to make a statement to the ASX and NZX but its interest in the beat-up construction and building materials company has been no secret
Apr 16 - The Christchurch City Council needs to genuinely investigate new ways to raise revenue and manage assets and infrastructure to deliver a vibrant, prosperous and sustainable 21st century city, says Canterbury Employers’ Chamber of Commerce CEO Leeann Watson.
Apr 16 - For the first time in a number of years, the outlook for the NZ economy is not as positive as it has been previously. In October last year, our deputy Prime Minister Winston Peters boldly predicted that the economy was about to fall into an abyss due to the policies of the prior National government. He was very wrong off course, as high export commodity prices have kept the economy ticking along at a robust clip over the intervening period. However, today due to widespread uncertainty in the business community about the impact on the economy from…
Apr 11 - The Council of Trade Unions today presented to the Education and Workforce Select Committee on the Employment Relations Amendment Bill, in support of giving New Zealanders back the ability to improve workplaces together. CTU President Richard Wagstaff said that the proposed legal reforms repaired and protected the freedom of working Kiwis to choose to join in unions if they wished.
Apr 11 - Australia's Longreach Oil has agreed to a buy a New Zealand company which plans to develop a dairy factory in Otorohanga, as it seeks to bolster its investment portfolio and resume trading on the ASX.
Apr 11, - Speirs Group, the fresh food processing business founded by the Speirs family, sold the 40 percent stake in Rosa Foods it has owned for the past decade at a "modest premium" to its $714,000 carrying value, saying there were limited ongoing synergy benefit Continue here to the full release | || April 11, 2018 |||
Apr 10 - Iwi heavyweights Waikato-Tainui and Ngai Tahu have received a $35.3 million top-up after disputing the way the Crown valued settlements when the payouts breached the $1 billion fiscal envelope six years ago
Apr 10 - New Zealand film production revenue increased 15 percent to $1.1 billion in 2017, Stats NZ said today. Auckland’s film sector led this growth in 2017; however, Wellington still remains the main player in film production. “New Zealand’s largest city is becoming a filming destination,” business performance manager Laura O’Leary said. “Auckland’s film production revenue was estimated at $489 million in 2017 – increasing 37 percent from 2016. The number of businesses involved in the screen industry in Auckland grew 9 percent in 2017.” While Wellington’s film production revenue decreased slightly from 2016, it is still the main…
Apr 09 - New Zealand businesses remained pessimistic about the country's economic fortunes in the March quarter as negative sentiment following the change in government continued into the new year and as profitability remains weak
Apr 09 - Infratil-owned NZ Bus will displace four other operators after a successful bid for new contracts in Bay of Plenty worth an annual $14.8 million, having lost ground in its mainstay markets of Auckland and Wellington
Apr 09, 2018 - Kiwi merino wool clothing maker Icebreaker Holdings was sold to US apparel giant VF Corp for $288 million in a competitive tender process, Overseas Investment Office documents show Continue here to read the full release | || April 09, 2018 |||
Apr 05, 2018 - ASX-listed autoparts maker Bapcor has exited the last of the leftover Hellaby Holdings assets it didn't want with the sale of industrial asset maintenance firm TBS Group for $35 million, reaping more from the divestments than flagged Continue here to full release | || April 05, 2018 |||
Apr 05, 2018 - New Zealand carpet maker Cavalier Corp is emerging from a “tough” period after an influx of cheaper synthetics forced it to restructure its business to compete. It has now streamlined its operations and with most of the pain now behind it, is stepping up investment in innovation and marketing as it eyes rising consumer demand for natural woollen products.
Apr 05, 2018 - The New Zealand dollar rose above 73 US cents for the first time in more than a week, and touched a three-week high, as a pickup in consumer confidence, a bigger-than-expected budget surplus and rising property values underlined the relative strength of
Apr 04, 2018 - Westpac NZ Climate Change Impact Report issued today highlights, among other things, the critical role manufacturing will play in adapting to climate change and reducing carbon emissions while providing sustainable growth. The report also reinforces the risks climate change holds for other sectors that currently play a key role in our economy, such as tourism and agriculture.
Apr 04, 2018 - Seeka, New Zealand's biggest kiwifruit grower, has sold out of Zespri Group after opposing constitutional changes at the monopoly export body that tie shareholdings to trays of fruit produced