Business News

IS threat forces Burger Fuel pullout

BurgerFuel has 26 stores throughout the Middle East - including several in Saudi Arabia (pictured).

The threat posed by Islamic State militants has forced Auckland-based franchise Burger Fuel to pull out of its only store in Iraq and plans to open others have been put on hold. (AUDIO)

Qantas out of the red and 'making money'

Qantas plane tail.

Qantas investors have welcomed news that the airline is once again profitable. It comes less than two months after the Australian airline made a record loss of $A2.8 billion.

Dairy prices drive $1b deficit

fonterra  milk powder packaging plant

The slump in global dairy prices is having a big impact on New Zealand's overseas trade position, and was the major driver of the $1 billion deficit recorded in September.

NZ market ends week higher

businessmen and nzx50

New Zealand shares rose today, with the benchmark Top 50 Index hitting another record. It ended the trading week 41 points higher at 5334. The dollar was little changed.

Sky secures rugby rights from 2016

Sky Network Television has secured a conditional agreement for the right to air New Zealand Rugby Union and other SANZAR union matches, for five years, from 2016.

Takeover of port shares complete

port of lyttelton

The investment arm of the Christchurch City Council has completed the takeover of all shares in the Lyttelton Port. The council previously owned 80 percent.

Auckland Airport backs Queensland

The Advertising Standards Authority has upheld a complaint about a display-box advertisement of No-Jet-Lag.

Auckland Airport remains confident North Queensland Airports' performance will improve in the long-term, despite a lacklustre performance over the past year or so.

Markets deliver an effective easing

New Zealand dollar

Financial markets have effectively delivered an easing in monetary policy after inflation in the September quarter came in well below both market and Reserve Bank expectations.

Tauranga Port's profit expected to rise

The Port of Tauranga

While Port of Tauranga expects the current full-year profit to be between $78 and $83 million its shareholders were told the group's current year profit fell 3 percent in the first quarter,

Reserve warns on cross border finance

Reserve Bank Governor Graeme Wheeler.

Reserve Bank governor Graeme Wheeler told a conference in Wellington today that facilities to move money between countries can offer both enormous benefits and risks.

Now clarity on car lending fees - regulator

no caption

The corporate regulator says a High Court judgement, on what is known as the Sportzone Motorcycles case, further clarifies what fees lenders are allowed to charge.

Restaurant Brands 1st half profit up

no caption

Restaurant Brands' first-half profit rose 18.6 percent to $11.495 million. The profit increase was more than double the increase in sales for the six months ended early September.

Nuplex may return capital

no caption

Nuplex says it may return capital to shareholders after selling two Australasian businesses to a private equity-supported firm for $A127.5 million.

Business Briefs

no caption

In business briefs today Pyne Gould sells Epic holding; Air freight volumes expected to take off and Lyttelton Port's new $12 million crane.

Court rules on MTF fees

120514. Photo Diego Opatowski / RNZ. Coat of arms. Court

The High Court in Auckland has made a detailed line-by-line ruling on which fees charged by Motor Trade Finance are reasonable and which are not.

Market cool on Fletcher's profit guide

no caption

Fletcher Building's profit guidance for this year has disappointed the market. The mid-point is 2 percent below analysts' consensus forecasts.

Shares rise, but dollar steady

nz currency

New Zealand shares rose today, with the benchmark Top 50 Index rising 47 points (0.9 percent) to 5280, while the dollar was little changed.

Nuplex sells two divisions

no caption

Nuplex says it has sold its agency and distribution business, and its plastics additives operations, to a private equity-supported firm, for $A127.5 million.

Chinese tipped to invest more in NZ

no caption

More money will flow to New Zealand from China when the world's second largest economy introduces schemes to encourage its citizens to invest abroad, and analyst says.