15 Nov 2017  -  Tower says it aims to leave its larger rivals with 'clunky legacy systems' in its wake by transforming into a "digital challenger" offering customers more tailored products that draw on deeper pools of information.  The Auckland-based insurer is raising $70.8 million to bolster its balance sheet and has adopted an ultra-conservative approach to the most problematic claims lingering from the Canterbury earthquakes seven years ago. Chief executive Richard Harding says that gives it the headroom to overhaul its IT infrastructure and embark a new way of doing business which will deliver better products for customers, tailored…

15 Nov 2017  -  Paints supplier DuluxGroup is reviewing the future of its underperforming business in China but is set to launch into the Indonesian market.  Paint supplier DuluxGroup may consider pulling out of its joint-venture business in China as its paints brand struggles but has flagged higher hopes for Indonesia, with plans to start selling some its Selleys products into the growing market there. DuluxGroup lifted profit by 9.6 per cent to $142.9 million for the year to September 30, and said on Wednesday it expects to deliver an even better result in the year ahead. Strong growth in…

15 Nov 2017 -  One of the largest, and the longest established New Zealand-owned engineering and design consultancy, Harrison Grierson, has announced its merger with Wellington-based spatial information specialists, e-Spatial. Harrison Grierson employs over 350 people in eight offices across the country. Its four key market sectors are Land and Buildings, Water and the Environment, Utilities, and Transport. e-Spatial’s expert services include spatial consulting, solution development, data management and technology. The new stand-alone business unit will be called ‘e-Spatial, a Harrison Grierson company.’ This is the second merger in Harrison Grierson’s 132-year history and is a significant diversification for both…

15 Nov 2017  -  Mainfreight, the transport and logistics group, posted a 1.1 percent gain in first-half profit as strong trading in Australia and improving results in Europe were offset by weaker results in the Americas and Asia. The company said it had expected a better first-half result.  Profit rose to $42.2 million in the six months ended Sept. 30 from $41.8 million a year earlier, the Auckland-based company said in a statement. Sales rose to $1.2 billion from $1.1 billion. Mainfreight declared an interim dividend of 19 cents a share, up 2 cents from a year earlier, saying even…

14 Nov 2017  -  Freightways Limited (NZSE:FRE), a air freight and logistics company based in New Zealand, saw its share price hover around a small range of NZ$7.43 to NZ$7.93 over the last few weeks. But is this actually reflective of the share value of the small-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let’s take a look at FRE’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. Check out our latest analysis for Freightways | A Simply Wall Street release || …

14 Nov 2017 - Former Prime Minister Sir John Key spoke to a crowd of 350 at the launch party of professional services firm K3 last Thursday night. he event at Auckland’s Maritime Room celebrated the establishment of K3, a professional services firm which brings together legal, accounting and consulting services under one roof. With more than half of K3’s Legal team fluent in Mandarin and the firm’s extensive links with the Chinese community, Sir John spoke at length about New Zealand’s relationship with China. “As PM I went to China seven times and everyone knows that I’m a massive…

13 Nov 2017  -  Fisher and Paykel Healthcare Corp has won a patent case against ResMed in the UK in the ongoing intellectual property dispute for its face and nasal masks across various jurisdictions. The High Court of Justice, Chancery Division, Patents Court ruled a disputed ResMed patent was invalid, with the New Zealand manufacturer entitled to recover its legal costs with the amount yet to be determined by the court, the company said in a statement. “While today’s ruling is just one more step on the journey, it reinforces our confidence in our position and we are satisfied with…

13 Nov 2017  -  Contact Energy is getting a lot of attention for its pioneering green borrowing programme, certified by Climate Bonds Initiatives (CBI) and launched in mid-August. There are expectations this will lead to further similar issues in New Zealand as the appetite for socially responsible investing and meaningful action on climate change grows.  Green bonds are created to fund projects or assets that have positive environmental and/or climate benefits. Most green bonds that are issued worldwide are green “use of proceeds” or asset-linked bonds. This means investors that buy these green bonds can be confident their investment is…

7 Nov  -  The latest New Zealand Diversity Survey revealed that 61 per cent of organisations are perceived to value the most senior members of their staff, and a third offer flexible or reduced hours and the opportunity to be a mentor to their aging workers. The survey is conducted twice a year by Diversity Works New Zealand and Chief Executive Bev Cassidy-Mackenzie says it’s also encouraging to see that the number of organisations with no specific strategy for engaging with aging workers dropped from more than 70 per cent a year ago to just 32 per cent last month.…

6 Nov  -  Living Wage Movement Aotearoa New Zealand welcomes the first ever corporate business as an accredited Living Wage Employer.  New Zealand's largest distributor of electricity and gas across the Auckland region, Vector Limited, joins nearly 90 other accredited businesses committed to paying no less than $20.20 to all workers, including contracted cleaners. The announcement was made at Auckland’s Kai Pasifika restaurant, another Living Wage Employer at midday. “This is momentous for the Movement and for all New Zealand workers,” says Living Wage Convenor Annie Newman. “We congratulate Vector for its courage and commitment to a new standard for…

6 Nov 2017  - Top New Zealand CEOs are leading the way in progressing to flexible workplaces and providing a roadmap for other business leaders to follow, thanks to the Champions for Change business group of 56 New Zealand CEOs and Chairs.  Champions for Change recently launched a Flexible Working Toolkit that collates CEOs’ insights in developing flexible workplaces to attract and retain top talent,increase productivity, and foster an agile response to changing market needs. The Flexible Working Toolkit provides templates, case studies, and specific suggestions of how flexibility can work for organisations. With over half of the New Zealand…