Business News

GDP rises, driven by primary sector

The pace of economic activity has risen, according to official figures released this morning.

Fed may raise short-term interest rates

The United States central bank has indicated it may raise short-term interest rates next year, but is cautious on exactly when.

Group reapplies for clearance of takeover

The consortium led by the businessman Mark Stewart has re-applied for regulatory clearance to take over Acurity Health.

Business Briefs

A round-up from Radio New Zealand's business reporters - TruScreen signs Austrian deal, Cooks Global Foods gets Chinese purchase go ahead, Serko joins with Expedia.

Pyne Gould tops off year with fiery AGM

Pyne Gould has topped off the year with a fiery annual shareholders meeting, where the issue of transparency and accountability were front and centre. (AUDIO)

Current account deficit reaches 6-year high

New Zealand's current account deficit widened to a near six-year high in the September quarter, but was lower than economists had been expecting.

English still tilting for surplus next year

The Government has been accused of sacrificing public services in its obsession on returning to surplus next year. Finance Minister Bill English is adamant a surplus can be achieved.

Goodman sells industrial property

Goodman Property Trust has sold its industrial facility at Wiri for $53.2 million. The sale of Enterprise Park to a private investor will be settled in March.

MRP sells geothermal interests in Chile, Germany

Mighty River Power is selling its geothermal development interests in Chile and Germany, but will retain its United States-based geothermal investment.

Business briefs

A round-up from Radio New Zealand's business reporters - Air New Zealand's passenger numbers rise; Chatham trials rock phosphate; Oamaru fibres up and Thrifty gets a scoot on.

Kiwibank's mortgage market share stagnates

For the first time since it began operating, in 2002, the government-owned Kiwibank's share of the mortgage market stagnated, in the September quarter.

Change to way NZ dollar value measured

The Reserve Bank has more than tripled the number of currencies it now uses to measure the value of the New Zealand dollar, to 17 from five.

NZ dollar down - shares fall

The New Zealand dollar is down almost half a US cent since late Friday, led down by a drop in long-term interest rates. NZ shares fell with the Top 50 Index shedding 16 points.

Christmas spending gearing up

Christmas spending for the first two weeks of December is up 4.3 percent on last year - and last Friday was the second busiest of the year. (AUDIO)

Rents stagnant across nation

Rents across the country have been stagnating for the last four months, even as house sales and prices have been ramping up.

The Lucky Country's feeling gloomy

In Australia, a consumer survey released today reveals a growing pessimism about the economy, as the government is due to release its mid-year economic outlook report.

Spending confidence up for silly season

Consumer confidence has rebounded leading into the summer holiday season, following a few months in the doldrums.

Economists more pessimistic on growth

Economists, on average, are expecting the economy grew slightly slower in the September quarter than the Reserve Bank has forecast.

Commission refuses Acurity takeover

The Commerce Commission has refused to allow a consortium, led by businessman Mark Stewart, to take over Acurity Health.

Blis fined $30,000 for market breach

Blis Technologies has been censured for failing to share information that materially impacted on its share price.