Archive for the 'Article' Category

Govt hikes minimum wage 3.3% to $15.75/hour

Article – BusinessDesk

Workplace Relations Minister Michael Woodhouse today announced the minimum wage will rise 50 cents from April 1 to $15.75 per hour, or about 53 percent of the average hourly rate. Read more »

New Zealand’s economy firing on all cylinders, HSBC says

Article – BusinessDesk

Jan. 24 (BusinessDesk) – Growth in New Zealand is tipped to remain strong but rate hikes won’t be on the cards until 2018, says HSBC chief economist Paul Bloxham. Read more »

Z Energy may review current interim distribution policy

Article – BusinessDesk

Jan. 24 (BusinessDesk) – Z Energy may review its interim distribution policy after reducing debt levels ahead of schedule following its acquisition of Chevron New Zealand’s Caltex and Challenge! brands. Read more »

NZ services sector rises in December

Article – BusinessDesk

Jan. 24 (BusinessDesk) – Activity in New Zealand’s services sector, which accounts for about two-thirds of the economy, rose in December, with strong growth in employment and new orders. Read more »

Cheap rival honey weighs on Chinese sales

Article – BusinessDesk

Jan. 24 (BusinessDesk) – NXT-listed Oceania Natural has slashed its 2017 revenue forecast as deep discounts on rival honey products undermine sales into China. Read more »

NZ export beef benchmark rises 5.1%

Article – BusinessDesk

Jan. 24 (BusinessDesk) – A benchmark for New Zealand beef exports rose 5.1 percent last week although increasing US domestic production is likely to cap the gains, according to analysts at NZX Agri. Read more »

NZ’s top 30 cooperatives generate sales of more than $40bn

Article – BusinessDesk

Jan. 24 (BusinessDesk) – New Zealand’s top 30 cooperatives contribute more than $42.3 billion per annum to the economy in revenue, a new report has found. Read more »

NZ dollar little changed above 72 US cents

Article – BusinessDesk

Jan. 24 (BusinessDesk) – The New Zealand dollar was little changed above 72 US cents, near its highest in more than a month, after US President Donald Trump expounded plans for protectionist policies including renegotiation of trade agreements and … Read more »

While you were sleeping: Trump axes trade deal

Article – BusinessDesk

Jan. 24 (BusinessDesk) – Stocks fell on both sides of the Atlantic as President Donald Trump formally ordered the US to withdraw from the Trans-Pacific Partnership trade deal, bolstering concern about the impact on corporate profits and economic growth. Read more »

MARKET CLOSE: NZ shares eke out gains in thin trade

Article – BusinessDesk

Jan. 23 (BusinessDesk) – New Zealand shares eked out gains on the first day of trading after US President Donald Trump’s inauguration as a rise in Auckland International Airport and defensive stocks like Kiwi Property Group offset a sharp fall in Comvita. Read more »

NZ dollar gains as Trump uncertainty keeps markets uneasy

Article – BusinessDesk

Jan. 23 (BusinessDesk) – The New Zealand dollar rose above 72 US cents as investors remain uneasy about what US President Donald Trump will deliver in his much-anticipated infrastructure spending programme. Read more »

Bapcor sweeps out Hellaby boardroom after securing control

Article – BusinessDesk

Jan. 23 (BusinessDesk) – ASX-listed auto firm Bapcor has installed four new directors at Hellaby Holdings after securing control of the New Zealand firm. Read more »

IkeGPS targets European sign market with Spike distribution

Article – BusinessDesk

Jan. 23 (BusinessDesk) – IkeGPS is targeting Europe’s sign market in a new distribution deal spanning 12 countries which the laser measurement toolmaker expects will accelerate sales of its Spike product. Read more »

Election date announcement on the cards for Tuesday

Article – BusinessDesk

Jan. 23 (BusinessDesk) – Prime Minister Bill English is declining to say whether the date for this years general election will be announced on Tuesday this week after the first Cabinet meeting of the year. Read more »

Suncorp’s outstanding Canterbury quake claims costs rise

Article – BusinessDesk

Jan. 23 (BusinessDesk) – Suncorp Group, which owns general insurer Vero in New Zealand, has increased its outstanding claims provision for the 2010 and 2011 Canterbury earthquakes after getting new claims from the Earthquake Commission. Separately the insurer released … Read more »

Christchurch bucks trend in housing affordability survey

Article – BusinessDesk

Jan. 23 (BusinessDesk) – Christchurch housing became more affordable in 2016, bucking the trend across New Zealand’s housing markets tracked by the Demographia International Housing Affordability Survey. Read more »

New Zealand markets in holding pattern

Article – BusinessDesk

Jan 23 (BusinessDesk) – Both the New Zealand dollar and the stock exchange are a tad weaker but relatively steady today in the wake of US President Donald Trump’s inauguration and analysts expect the situation to continue as markets take a wait-and-see … Read more »

Comvita warns annual earnings to slump on weak honey harvest

Article – BusinessDesk

Jan. 23 (BusinessDesk) – Comvita shares sank 14 percent after the manuka honey products maker warned annual earnings will tumble by about two-thirds as the nation’s unseasonably wet and windy weather saps the honey harvest and slow sales via China’s informal … Read more »

Abano uses Healthcare Partners’ dividend

Article – BusinessDesk

Jan. 23 (BusinessDesk) – Abano Healthcare has used Healthcare Partners Holdings’ interim dividend to offset the cost of a partial takeover mounted by the medical investor’s biggest shareholder. Read more »

NZ dollar little changed as investors await more detail

Article – BusinessDesk

Jan. 23 (BusinessDesk) – The New Zealand dollar was little changed as investors await more detail on US President Donald Trump’s plans to accelerate growth in the world’s largest economy. Read more »

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