Business & Markets

Speculation sparks NZ dollar rise

The New Zealand dollar rose against its Australian counterpart on Monday on speculation that a relatively stronger domestic economy and lack of exposure to international commodity prices such as iron ore favours the kiwi over the Aussie. The kiwi rose...... Read More

Air NZ land $1.4m over check-in charges

Air New Zealand has been awarded more than $1.4 million after the High Court in Auckland ruled on Monday that they were overcharged for early-check ins and late check-outs at a Hong Kong Novotel for two years. From June 2011, Air New Zealand entered...... Read More

New Zealand meat exports back in Iran

New Zealand resumed meat exports to Iran in May, sending 60 tonnes of frozen lamb to the Islamic state. Market access to Iran effectively ceased in 1998 as a result of international sanctions. Primary Industries Minister Nathan Guy cleared the way...... Read More

Dairy, beef, lamb economy drivers in Canterbury

Economists are predicting the Ashburton District’s dairy payout will exceed $900 million for the 2016-2017 season. The Infometrics quarterly economic monitor report bases the payout figure on an assumption that production levels from the previous...... Read More

Fonterra revenue hits $13.9B

As a result of higher milk prices, Fonterra’s revenue of $13.9 billion for the first nine months of 2016/17 is up eight per cent on the same period last year. Making the announcement on Wednesday, chief executive officer Theo Spierings says the...... Read More

Prices and profit up at Sanford

Fishing company Sanford Limited posted a 25 per cent increase in net profit after tax to $19.0m for the six months ended March 31, 2017, compared to the same period in the prior year. It’s been achieved by raising the prices of higher value,...... Read More

Record Zespri sales, record dividend

The Zespri Board approved the intention to declare a 2017 final fully-imputed dividend of 17 cents per share, payable in August, bringing the total dividend to 25 cents a share.  The returns are based on outstanding returns for Gold kiwifruit,...... Read More

NZ shares rise, led by F&P and Sky

New Zealand shares rose on Friday, led by Fisher & Paykel Healthcare and Sky Network Television, while Ebos and Metro Performance Glass fell. The S&P/NZSX 50 index added 7.1 points, or 0.1 per cent, to 7441.57. Within the index, 20 stocks gained, 22...... Read More

$4 billion in new capital spending

As part of Budget 2017, the government is allocating $4 billion in new capital spending in a bid to build infrastructure “for a growing economy”. Finance Minister Steven Joyce says this $4b investment is the single biggest investment of...... Read More

Banks Shoes chain calls in receivers

Banks Group, which runs 14 stores across the country under the brands including Banks Shoes and Shoe Connection, has been tipped into receivership at the request of director John Bank. PwC's John Fisk and David Bridgman were appointed receivers on...... Read More