Business News

Dollar steady, market higher ahead of vote

markets bull and bear

The New Zealand currency was little changed against the US dollar ahead of tomorrow's general election, while the sharemarket ended the trading week higher.

Consumer confidence edging up - poll

man walking on bank note

Consumers have remained upbeat with confidence edging up, according to the ANZ-Roy Morgan Consumer Confidence monthly index.

Job ads rose in August

Unemployment has remained above 8 percent in provinces such as Northland, Hawke's Bay and Wairarapa.

The number of job advertisements rose in August, almost reversing July's slump. Overall, ads rose by almost 1.5 percent afer a near 2 percent fall the previous month.

Chorus lawyers say advice flawed

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Chorus has legal opinions contradicting advice from regulator the Commerce Commission over the company's proposals for new broadband-over-copper-wire services.

Govt promises $103m to Solid Energy

Solid Energy's Stockton coal mine.

The Government has thrown Solid Energy a $103 million financial lifeline that allows the miner to avoid becoming technically insolvent.

Airport's earnings rise by nearly 12%

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Christchurch International Airport's annual net profit fell nearly 15 percent, reflecting tax adjustments, while at the operating level, profit rose nearly 12 percent to $72.5 million.

Datacom buys 20% of SmartWard

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IT firm Datacom has bought a 20 percent stake in an Australian health technology start-up, which has the potential to both allow nurses to spend more time with their patients.

Heftier pay rises on the way - English

Finance Minister Bill English.

Finance Minister Bill English says the growing economy is set to deliver heftier pay rises to workers but unions argue workers are in danger of missing out.

Dollar recovers from seven month low

New Zealand $100 dollar bills

The New Zealand dollar hit a seven-and-half-month low of 80.73 US cents overnight before recovering in late afternoon trading. (AUDIO)

Fed chair not raising rates yet

Federal Reserve chair Janet Yellen.

US Federal Reserve chairperson Janet Yellen has refused to say when it will begin raising interest rates again after it completes the wind-down of its money-printing programme in October.

Pace of economic activity eases

New Zealand dollar

The pace of economic activity has eased. Latest gross domestic product figures show it grew 0.7 percent in the June quarter, compared with 1 percent in the previous two quarters.

Possible lifeline for NZF Group

stock exchange ticker tape

NZF Group looks set to escape the corporate graveyard after discovering a potential business interested in using its shell to list on the NZX.

Fonterra-Danone relations poor

Danone's products include the Karicare formula range for infants and toddlers.

It appears certain Fonterra has lost the giant French food company Danone as a customer for good following the impact of last year's botulism scare. (AUDIO)

Silver lining in current account deficit

Economic confidence

One of the reasons the current account deficit blew out by $1.4 billion to $2 billion in the June quarter actually reflects positive news about the economy. (AUDIO)

Restaurant Brands focus on Carl's Jr

Restaurant Brands, which owns several fast food brands including KFC, intends to expand in the South Island.

The Carl's Jr burger chain is eyeing up bases in Christchurch and Dunedin, with operator Restaurant Brands aiming to increase store numbers by up to five a year. (AUDIO)

New Zealand dollar continues to slide

man walking down dollar

The New Zealand dollar gained half a US cent overnight, but then resumed its downward slide while shares also mostly weakened.

Balance of payments gap widens

Export growth has slowed and expected to further deteriorate over the second half of the year.

The difference between what the country earned and spent internationally has widened, with the current account deficit increasing to $2 billion in the June quarter.

Dairy prices steady in latest auction

milk

Dairy prices have held steady after five successive declines, remaining near two-year lows. Prices peaked in February but have dropped by nearly a half since then. (AUDIO)

KFC big contributor quarter sales

A KFC outlet

The owner of KFC, Pizza Hut, Carls Jr and Starbuck stores in New Zealand has reported a 5.8 percent increase in second quarter sales. Revenue grew by $5.9 million.