Business News

New building consents rebound

Consents for building new homes rose in March.

The number of consents for new houses and apartments has rebounded, rising 3.5 percent in June compared with the previous month, according to official figures.

Positive debut for Metro Glass

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New Zealand shares finished slightly weaker on Wednesday. The highlight of the day was the trading debut of Metro Glass.

NZD awaits key US economic data

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The New Zealand dollar was little changed on Wednesday against the currencies of all the major trading partners as it awaits key economic data out of the United States.

Metro Glass debuts on stock market

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New Zealand's largest glass manufacturer has become the seventh company to list on the NZX this year.

Company 'not bound by resolution'

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Motor Trade Finances says even if shareholders back resolutions put by a group of dissident shareholders, its board and management won't consider themselves bound by the votes.

Utilities told of cyber attack danger

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A new survey indicates the majority of NZ and Australian organisations, responsible for providing critical infrastructure, aren't doing enough to prevent serious cyber attacks.

Green Cross Health looks to expand

chemist

Green Cross Health chairman Peter Merton has told the company's shareholders the firm is looking for opportunities to expand its primary healthcare business.

NZ dollar falls after milk payout news

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The New Zealand dollar fell about a quarter of a US cent in late trading on Tuesday following news that the dairy company, Fonterra, has reduced its milk payout to farmers.

Acurity shouldn't be listed - Stewart

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Businessman Mark Stewart says the high cost of earthquake strengthening is one reason why Acurity should no longer be a listed company.

Abano's profit rose 75 percent

The Hauora Maori Scholarships to study at the University of Otago run school of dentistry are worth $3000 - $4000 a year.

Abano Healthcare's annual net profit rose 75 percent and was at the top of the range the company had guided to. Profit rose to $4.9 million in the 12 months to the end of May.

Dollar weaker on Monday

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The New Zealand dollar was weaker against the currencies of all the nation's major trading partners at 5.40pm on Monday.

Dorchester Pacific in Turners bid

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Dorchester Pacific has launched an $82 million-plus takeover offer for the car auction company Turners Auctions, describing it as a good fit for its insurance and finance business.

NZX's business grows

NZX statement and coins.

The NZX's business grew in the first half of the year with trading volumes up almost 22 percent. The stock exchange operator has also been busy on the regulatory front.

Danone's infant formula sales falling

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French food group Danone has reported a 13.6 percent drop in infant formula sales in the June quarter as a result of Fonterra's botulism scare. It follows a 12.6 percent fall in May.

Relaxed lending rules help Chorus

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Chorus should be able to weather the next few years whatever the corporate regulator decides on how much it can charge for services over copper wires, an analyst says.

Xero CEO wants 'meaningful' IT policies

Rod Drury.

Accounting software firm Xero chief executive Rod Drury says all political parties need to step up and announce meaningful information technology policies in their election campaign.

Takeover bid for Acurity Health

Hospital ward.

Prominent businessman Mark Stewart and co-investors have launched a takeover for Acurity Health valuing the company at just over $112 million.

Confidence eases, firms still optimistic

man on note

Firms remain buoyant about the economy's prospects, despite higher interest rates and a sluggish global recovery according to the latest ANZ Bank confidence survey. (AUDIO)