Business News

AMP expects inflation will arrive eventually

AMP Capital sign

Even though inflation has been unexpectedly much more benign, the chief economist at one of New Zealand's major fund managers expects that price pressures will build. (AUDIO)

Loan links interest rate to milk payout

fonterra  milk powder packaging plant

A new up to $100 million fund plans to lend to dairy farmers at interest rates based on the milk payout. NZ Dairy Farming Trusts hopes to start lending in June next year.

The Warehouse launches Torpedo7

Aaron Greene Torpedo 7 COO (front) with store team members and management.

The Warehouse is taking its online adventure sports retailing business into bricks-and-mortar, opening two new stores and re-branding seven existing stores, as Torpedo7.

Market starts trading week higher

share market and pen

New Zealand shares rose today with the benchmark Top 50 Index gaining 51 points, or 1 percent, to 5198. The dollar was little changed.

Subdued inflation figures expected

no caption

Economists are expecting the September quarter inflation figures due this week will undershoot the Reserve Bank's 0.7 percent forecast, largely because of low winter food prices. (AUDIO)

Service sector grows strongly

no caption

The services sector continues to show strong growth across all sectors and all regions of New Zealand.

Downer buys utilities company Tenix

no caption

Downer says it is buying the Australian utilities company, Tenix, for $A300 million.

Large scale property investors on the increase

no caption

A survey shows the proportion of large and full-time property investors who own seven or more properties has grown significantly in the past four years. (AUDIO)

NZ shares up but kiwi down against US


New Zealand shares rose today, with the benchmark Top 50 Index gaining 15 points, or nearly a third of a percent, to 5147. The New Zealand dollar fell nearly half a US cent today.

Property investors fear RBNZ proposals - survey

investment plus wooden figures

A survey suggests one in three residential property investors would sell up if the Reserve Bank begins imposing planned new regulations. The survey questioned 1156 people.

Todd Minerals invests in Sisson Project

dump truck at Waihi Mine

Todd Minerals has invested another $US4 million in what is known as the Sisson Project in Canada, taking its investment to $US14 million and giving it an 11.5 percent stake.

SkyCity lodges convention centre design

An artist's impression of the convention centre.

SkyCity says it lodged the preliminary design for the new International Convention Centre with the government early this month.

World market wobbles continue

sharemarket board

United States shares continued their tumble overnight, mirroring the European and Asian markets. Fears of an Ebola pandemic have contributed to the wobbles.

Farmgate milk prices still likely to fall

milk tanker filling up

The latest rise in global dairy prices will be a welcome relief to farmers, but does not necessarily signal a return to a higher farmgate milk price. Average dairy prices rose 1.4% this week. (AUDIO)

Contact dismisses 'dinosaur company' warning

140814. Photo Contact Energy. Te Mihi power station

Contact Energy has heard it risks becoming a dinosaur company like New Zealand Post, who did not predict what email was going to do to its business.

NZ shares fall but NZ dollar up


New Zealand shares fell today, with the benchmark Top 50 Index falling 31 points, or 0.6 percent, to 5132 points. The NZ dollar increased more than one US cent from a day ago.

Manufacturing, jobs underpin economy

Confidence in the jobs market has risen to its highest level since September 2008.

Stronger manufacturing activity and rising demand for workers are continuing to underpin the economy - but dairy farmers are being warned to prepare for income cuts.

Dairy prices up, dollar follows

Fonterra milk powder packaging plant

Dairy prices rose 1.4 percent in the international GlobalDairyTrade auction overnight, following at 7.3 percent plunge only a fortnight ago. The dollar rose sharply on the news. (AUDIO)