Business News

Commodity prices continue to slide

food in supermarket trolley

New Zealand's commodity prices fell 1.3 percent in September - the seventh month in a row. Dairy led the fall with 14 percent lower but beef jumped 10 percent.

Finzsoft banking on profit jump

computer mouse and money

Finzsoft shares jumped almost 25 percent yesterday after the software company said it expects at least a four-fold increase in this year's annual profit.

Sky loses the rights to PGA

About half of New Zealand households are Sky subscribers.

Sky Television has lost the rights to the air the PGA tours to Coliseum. Sky announced the loss early last month, but did not know who had won the rights.

House prices hold steady - Trade Me

Surburban New Zealand state houses in Hornby, Christchurch.

New Zealand house prices were steady in September, up just 0.1 percent from August, according to a new property price index produced by Trade Me.

GeoOp shares under pressure

NZX50 tickertape

GeoOp's shares are under pressure following the abrupt resignation of chief executive Leanne Graham last month and despite reassuring comments from the board at its AGM.

Businesses paying bills faster

The ANZ says chequebook use by its customers has dropped by 10 per cent over the past year.

New Zealand businesses are paying their bills faster, reflecting the strength of the economy, an economics adviser says. All up, 66 percent of invoices were paid within 30 days.

Dollar weaker, but market gains

The NZ dollar was slightly weaker against its US counterpart this evening, dragged down by the Australian currency which fell to a near four-year low of 87.47 US cents. (AUDIO)

Abano submits Wellington proposal

Wellington Hospital.

Abano Healthcare subsidiary Aotea Pathology has submitted a proposal to the three Wellington region DHBs to run both the community services and the hospital-based laboratory services.

Air NZ eyeing Latin America routes

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Air New Zealand says there is huge opportunity to pick up on the demand for travel in the Asia-Pacific region and it has got an eye on Latin America in the medium term. (AUDIO)

Investment market strong, says Goodman

businessmen on nz

The manager of the Goodman Property Trust says the investment market is very strong at the moment, and overseas buyers are looking to New Zealand.

Dollar makes gains, market weaker

businessmen on dollar coins

The New Zealand dollar has clawed back some of its losses, following news yesterday that the Reserve Bank had sold off $521 million last month. The sharemarket was weaker. (AUDIO)

Consents for new dwellings stays flat

house building

The number of consents for new houses and apartments has remained flat. Regions that issued the most for new dwellings were Auckland and Christchurch. (AUDIO)

Goodman negotiates Auckland sales

Goodman Property Trust is negotiating the sale of two of its Auckland properties.

Australian fund manager, Quattro Asset Management, is looking to snap up properties from two of New Zealand's largest listed property investors.

Online sales continue to grow

internet shopper

The pace of growth in online retail spending was mixed in August with continued strong sales in overseas markets, compared with almost flat sales in the domestic market. (AUDIO)

Big boost in profit for Fulton Hogan

Fulton Hogan

Privately-owned infrastructure company Fulton Hogan has reported a 43 percent jump in full-year net profit, but the strong New Zealand dollar weighed on its revenue.

Dollar drops after RB confirms sell-off

Reserve Bank governor Graeme Wheeler.

The New Zealand dollar has plummeted to its lowest level this year after the Reserve Bank confirmed it sold $521 million last month. It fell to US77.07 cents before rising again. (VIDEO)

Confidence falling in regions

house and currency

Economic confidence in most regions has slipped with falling dairy prices, a slowing housing market and the general election all weighing on people's minds.

Market gains as dollar dives

businessmen on sharemarket

The New Zealand sharemarket has responded to the Reserve Bank's intervention in the currency market, closing higher today. The dollar fell to as low as 77.07 US cents. (AUDIO)

Pumpkin Patch shares continue slide

kids clothes shop

Broker Forsyth Barr says it expects shares in children's clothing retailer Pumpkin Patch to underperform, as the company continues to manage through tough trading conditions.

Turners recommends takeover offer

nzx50 and money

Turners Auctions has recommended shareholders accept Dorchester Pacific's offer to take over the vehicle auction company.

Dorchester's formal takeover offer for Turners

car paper clip with money

Dorchester Pacific's formal take-over offer for Turners Auctions will be delivered to the shareholders early this week, as well as an independent valuation commissioned by the car auction company.

Did RBNZ intervene in the currency?

Reserve Bank

At 3pm today, we will finally learn whether the Reserve Bank intervened in the currency last month. There have been rumours the RBNZ intervened in the market a month ago.