10 Jul 2015

Business Briefs

1:22 pm on 10 July 2015

Spending using cards rises

Official figures showed use of debit, credit and charge cards, rose a seasonally adjusted 0.5 percent in June, following a revised 1.3 percent gain in the previous month.

If cars and fuel are excluded, core retail spending remained unchanged, with higher spending on food and drink offset by lower sales of clothes and footwear.

On an annual basis, core spending jumped 6.1 percent when compared to June last year.

Commerce Commission generally happy with Chch Airport

The Commerce Commission says Christchurch Airport could do more to show how it works out its charges, but the regulator remains generally happy with the airport's improved level of disclosure.

After feedback from those in the air industry, the Commission's final report found the airport had made it easier to assess its performance, though it still thinks the rate of return used for future charges is too high.

Deputy chair of the Commission, Sue Begg, says the airport has also made a commitment to address the regulator's remaining concerns when prices are reset in 2017.

Healthy profit boost for Orion

Orion Health says the final settlement of earthquake insurance claims has provided a $24 million boost to its profits.

The company's posted an $83 million profit for the year to the end of March. It says that is $32 million above the previous year.

Truckometer gauge shows reversing economy

The latest ANZ Truckometer traffic volume report indicates the economy may have gone backwards in the three months to June.

The measures heavy and light traffic flows on the country's roads to predict the level of economic activity.

It says after five consecutive months of falls, the heavy traffic index rose in June, but only by 1.6 percent, while the June quarter fell by 1 percent.

Mercer Group appoints Richard Rookes

Mercer Group has appointed Richard Rookes as chief executive. It says he will take on the role immediately. Mr Rookes takes over from Rodger Shepherd.

Anniversary of introduction of decimal currency

On the 10 July 1967 New Zealand moved from a fractional currency system - pounds, shillings and pence, to decimal currency - dollars and cents.