Adern names Labour Cabinet members

Article – BusinessDesk

Oct. 20 (BusinessDesk) – Prime Minister-elect Jacinda Ardern has announced her cabinet, although their portfolios will stay unknown until next week. Read more »

NZ dollar heading for weekly drop of 2.5%

Article – BusinessDesk

Oct. 20 (BusinessDesk) – The New Zealand dollar continued to fall and was headed for a weekly drop of 2.5 percent as investors digest news that Jacinda Ardern will be the next prime minister after NZ First leader Winston Peters said he would support … Read more »

ComCom right to reject media merger, court hears

Article – BusinessDesk

Oct. 20 (BusinessDesk) – In the fifth day of the media merger appeal, the Commerce Commission’s lawyers have begun their arguments against overturning the regulator’s rejection of the country’s two largest print media companies joining together. Read more »

Auckland Airport infrastructure spend to go under microscope

Article – BusinessDesk

Oct. 20 (BusinessDesk) – The Commerce Commission will pay particular attention to Auckland International Airport’s planned $1.8 billion infrastructure spend in the regulator’s upcoming airport price review. Read more »

SkyCity runs ruler over Darwin after ‘tough year’

Article – BusinessDesk

Oct. 20 (BusinessDesk) – SkyCity Entertainment Group has hinted it may seek an investment partner to help develop its underperforming Darwin business in Australia, and hasn’t ruled out a future sale of the asset. Read more »

NZ dollar, stocks drop as 3-way government established

Article – BusinessDesk

Oct. 20 (BusinessDesk) – The New Zealand dollar fell as much as 2 percent and the benchmark stock index dropped more than 1 percent as the certainty of a three-term National government, under which the economy grew and equities rallied, was replaced … Read more »

NZ dollar, stocks drop as 3-way government established

Article – BusinessDesk

NZ dollar, stocks drop as 3-way government replaces certainty of 3 terms of National Read more »

NZ annual net migration continues to cool in September

Article – BusinessDesk

Oct. 20 (BusinessDesk) – New Zealand’s annual net inflow of new migrants continued to cool in September as the lure of Australia starts attracting local residents across the Tasman. Read more »

Metlifecare buys waterfront land in Auckland’s Hobsonville

Article – BusinessDesk

Oct. 20 (BusinessDesk) – Metlifecare plans to spend $240 million developing a new retirement village in Auckland’s Hobsonville with the acquisition of waterfront land in the city’s northwestern suburb. Read more »

Trilogy CFO Render resigns to pursue other opportunities

Article – BusinessDesk

Oct. 20 (BusinessDesk) – Trilogy International said its chief financial officer and company secretary Lindsay Render has resigned from the scented candle and beauty products maker to pursue other opportunities. Read more »

Dollar drops to 5-month low as market awaits policy details

Article – BusinessDesk

Oct. 20 (BusinessDesk) – The New Zealand dollar fell about 2 percent to a five-month low after the NZ First Party opted to form a coalition with Labour, bringing in a government that has vowed to reduce migration, potentially putting a brake on one … Read more »

While you were sleeping: Apple shares weigh on Wall St

Article – BusinessDesk

Oct. 20 (BusinessDesk) – Wall Street slid from record highs as shares of Apple declined amid reports of weaker-than-expected appetite for its iPhone 8. Read more »

UPDATE: NZ dollar drops near five-month low

Article – BusinessDesk

Oct. 19 (BusinessDesk) – The New Zealand dollar fell near a five-month low after NZ First leader Winston Peters said he would support a Labour-led government, saying the nation voted for change, and that capitalism needs to regain its “human face”. Read more »

NZ dollar falls as NZ First backs Labour-led government

Article – BusinessDesk

Oct. 19 (BusinessDesk) – The New Zealand dollar fell after NZ First leader Winston Peters said he would support a Labour-led government, saying the nation voted for change, and that he expected a change to the Reserve Bank Act. Read more »

MARKET CLOSE: NZX 50 charts new record

Article – BusinessDesk

Oct. 19 (BusinessDesk) – 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 … Read more »

Kraft Heinz buys ANZ Cerebos assets for A$290 million

Article – BusinessDesk

Oct. 19 (BusinessDesk) – Kraft Heinz, which counts Warren Buffett’s Berkshire Hathaway as its biggest shareholder, will spend A$290 million buying Cerebos Food & Instant Coffee and Asian Home Gourmet from Suntory Beverage & Food. Read more »

ASX-listed Retail Food Group takes control of Gloria Jean

Article – BusinessDesk

ASX-listed Retail Food Group takes control of Gloria Jean’s NZ master franchise from failed owner Read more »

Port of Tauranga says FY profit to rise as much as 10%

Article – BusinessDesk

Oct. 19 (BusinessDesk) – Port of Tauranga forecast 2018 profit will rise as much as 10 percent, saying it expects a strong pick-up in freight volumes in the first quarter to continue. Read more »

Fliway CEO Hawkseby optimistic of bouncing back

Article – BusinessDesk

Oct. 19 (BusinessDesk) – Fliway Group chief executive Duncan Hawkesby expects the transport and logistics firm will bounce back from a “tough” 2017 with all three business lines operating better than a year earlier. Read more »

Rising cost of housing outpaces income gains in past decade

Article – BusinessDesk

Oct. 19 (BusinessDesk) – The country’s average annual household income gained more than 40 percent in the past decade, but was still outpaced by rising housing costs, Statistics New Zealand figures show. Read more »