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Business headlines with summaries.
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'Price-matching': Big banks not competing enough, ComCom says
21 Mar 2024The banking sector lacks competition and disruptive forces to drive change and deliver benefits to consumers, a Commerce Commission draft report says. Audio
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Interest rates expected to be slashed
22 Mar 2024As the economy slips into a recession, economists are forecasting the Reserve Bank will sharply cut the official cash rate.
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20,000 more retail crimes reported in a year
22 Mar 2024There were nearly 20% more reported victimisations of stores than the year before, new police figures show.
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Offshore wind could contribute $50b to economy by 2050 - report
20 Mar 2024The sector could create 10,000 jobs during the build-out phase and another 2000 ongoing positions in operations and maintenance, a new report estimates.
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Uber's 'shambolic' agreements with drivers highlights power imbalance - unions
20 Mar 2024Something needs to be done to address the power imbalance between Uber and its drivers, a lawyer for the Council of Trade Unions has argued in court.
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The IMF has some advice for the government
In its annual health check on the country, the IMF says the government will have to "tread a narrow path to a soft landing".
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About 50 Godfreys staff to lose their jobs
21 Mar 2024Workers from 11 company-operated stores will be affected by the business permanently closing in May.
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Fonterra half-year profit up 23%
21 Mar 2024Underlying profit from the ingredients, foodservice and consumer businesses fell, but were more than offset by a gain the global markets business.
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Mortgage interest write-offs unlikely to spark market - CoreLogic
21 Mar 2024The average yield on rentals has increased to its highest level since 2020 but CoreLogic says it's still relatively low by historical standards.
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Lyttelton gearing up to host SailGP again
21 Mar 2024Lyttelton residents are remaining buoyant as SailGP returns this weekend, despite reports last year's event was an economic let down for businesses. Audio
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Warehouse Group to focus on three brands after nearly $24m first-half loss
20 Mar 2024The Warehouse Group lost nearly $24 million in the six months ended January as consumers tightened their belts in a tough economic environment. Audio
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Northland business owners offered free mentoring after SH1 Brynderwyns closure
20 Mar 2024So far 55 owners taken up the opportunity.
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Godfreys to close for good with loss of hundreds of jobs
21 Mar 2024All 141 of its stores across Australia and New Zealand will close permanently by 31 May, administrators say.
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'Sad day for Rotorua': Iconic Lakeland Queen goes into liquidation
20 Mar 2024The vessel hosted tourist cruises on Lake Rotorua for more than three decades until pandemic border closures forced it into hibernation in 2021, with 15 staff made redundant.
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Callaghan Innovation needs millions for urgent building work - document
20 Mar 2024Callaghan Innovation is tens of millions of dollars short of money for urgent building work - some of which is needed to keep staff safe in outdated laboratories.
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Warehouse slams ComCom's dismissal of Weet-Bix complaint
20 Mar 2024The retailer laid the complaint over Sanitarium's decision to quit supplying it with the breakfast cereal.
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The Warehouse reports $23.7m first-half loss, selling TheMarket
20 Mar 2024The sale of Torpedo7 had a severe impact on the bottom line, says The Warehouse Group.
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Councils will have to publish building consent data - govt
Building Consent Authorities will be made to submit timeframes for building consent and code compliance certificate applications, starting from next month.
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New private credit fund launched to counter banks' 'scorecard' approach
20 Mar 2024The fund is aimed at businesses which are finding it "increasingly difficult" to access bank loans.
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Consumers more upbeat but still avoiding big ticket purchases
20 Mar 2024Consumer confidence has perked up to its highest level in more than two years, but overall remains pessimistic.
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Plans to regulate online gambling welcomed by SkyCIty
20 Mar 2024The government's plans to regulate and tax online gambling will help level the playing field, says SkyCity, which has been operating its online casino from Malta for the past five years.
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Consumer credit: 'Kiwis are finding it harder to pay their bills'
19 Mar 2024Demand for consumer credit is increasing, though arrears are continuing to increase.
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Westpac joins rivals in offering gambling block for debit, credit cards
19 Mar 2024The move is a response to customer demand to cope with gambling addictions, the bank says.
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Kathmandu owner posts near $10m loss
19 Mar 2024KMD Brands said sales were down for all its brands - Kathmandu, Oboz and Rip Curl.
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