Business News: Recent Episodes
RNZ
Homeware and sports retailer Briscoe Group remains upbeat in the face of challenging conditions, with flat sales and shrinking margins. Kim Moodie has the business news.
Air New Zealand expects there will be significant disruptions to its regional flight schedule from next year, as a result of maintenance delays. Andrew McRae has the business news.
High profits in the electricity industry shows a broken structure which needs to be reviewed, according to Consumer NZ. Kim Moodie has the business news.
News from the business sector, including a market report [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6335832437112
Campervan company Tourism Holdings is riding the wave of rebounding tourism demand, with profits surging after last year's loss. Kim Moodie has the business news.
Fast food operator Restaurant Brands' half year profit has slumped more than 85 percent on the back of higher costs, staff shortages and global inflationary pressures. Kim Moodie has the business news.
Air New Zealand has surged back into profit, but is wary of uncertain economic pressures and volatile costs. Kim Moodie has the business news.
Gaming company Sky City Entertainment has had a strong recovery as open borders and no-Covid restrictions lifted activity. Kim Moodie has the business news.
News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6335179140112
Honey exporter Comvita has reported record full-year revenue, with all market segments seeing double-digit growth. Kim Moodie has the business news.
News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6334997688112
Strong growth in speciality dairy company A2 milk's Chinese market has lifted its profit but it's warning of a slowdown next year. Kim Moodie has the business news.
Telecommunications company Spark's profit has skyrocketed after selling a majority stake in its mobile towers and quitting its sports streaming business. Gyles Beckford has the business news.
Strong demand from the industrial sectors has powered Skellerup to another record-full year result amid challenging economic conditions. Gyles Beckford has the business news.
Fletcher Building's full year profit has been hit by ongoing costs associated the International Convention Centre and Hobson Street Hotel project in Auckland. Gyles Beckford has the business news.
The Reserve Bank will re-visit the official cash rate Wednesday afternoon, based on whether inflation is slowing as far and fast as it wants. RNZ's Business Editor Gyles Beckford spoke to Ingrid Hipkiss.
News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6333568425112
Rural supplies business PGG Wrightson has posted what it calls a strong result in the face bad weather, easing prices, and volatile conditions. Gyles Beckford has the business news.
News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6333424665112
Contact Energy's full year profit is down nearly a third on the last year, reflecting an 11 percent drop in revenue. Gyles Beckford has the business news.
Fonterra's improved full year profit outlook is a bright spot in an otherwise tough year ahead for farmers. Anan Zaki has the business news.
News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6332768759112
The agri-business group Scales Corporation is expanding its pet food investments with a 50-percent ownership stake in a newly-established European ingredient processing operation. Anan Zaki has the business news.
News from the business sector ASB Bank has posted a record full year profit of 1.56 billion dollars, thanks largely to a strong first half. Kiwisaver funds have continued their rebound as global markets stage a recovery. Homewares and sport goods retailer Briscoe Group is boosting investment in security for its stores as it sees a rising number of breaks ins.
News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6332593418112
The Commerce Commission expects merchants to pass on an estimated $105 million a year in savings on the Mastercard and Visa card fees charged to consumers. Anan Zaki has the business news.
Fast food retailer Restaurant Brands is warning of a big drop in profit as it faces significant cost pressures. Anan Zaki has the business news.
News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6332286831112
News from the business sector The labour market shows few signs of weakening just yet. Unemployment for the year ended June lifted slightly to 3.6 percent from 3.4 percent. Air New Zealand is looking for two local airports to be part of initial testing for a new generation of zero or low emissions aircraft. Life experience has replaced family wisdom as the main source of financial information for younger people and that's leading to calls for better financial education in high school.
News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6332215211112
The country's biggest glass manufacturer Metro Performance Glass has been grilled by shareholders over the potential sale of its Australian business and its overall performance. Kim Moodie has the business news.
News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6332162620112
People trading on high risk investment platforms are being advised to know the ins and outs of their trades, after an investor was left more than $150,000 out of pocket. Kim Moodie has the business news.
Consumers have become slightly more pessimistic with more signs job security is under threat in the cooling economy. Kim Moodie has the business news.
Small and medium sized businesses are cautiously optimistic about their future despite ongoing tough economic conditions. Anan Zaki has the business news.
The majority of investors plan to increase investment over the coming year as they feel more confident about market conditions, according to a new survey. Anan Zaki has the business news.
Demand for credit has risen for the first time in two years as consumers sign up for credit cards and personal loans. Anan Zaki has the business news.
News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6331730609112
The founder of transport software company ERoad is returning to the company in a consultancy role, just over a year since he stepped down as its chief executive. Gyles Beckford has the business news.
Two former senior executives of the failed honey export company, Oceania Natural, have been ordered to pay more than $2 million for trying to manipulate the company's share price and breaching disclosure rules. Gyles Beckford has the business news.
The Livestock Improvement Corporation has posted a modest rise in full year profit as demand for its genetics and herd improvement services increased. Gyles Beckford has the business news.
Inflation has slowed its lowest level since the end of 2021. Gyles Beckford has the business news.
The country's biggest bank has unveiled a $250 million fund to support business customers affected by extreme weather. Gyles Beckford has the business news.
News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6331328645112
Computer chip maker Rakon says it's first quarter trading is better than expected but it could be short lived. Gyles Beckford has the business news.
The manufacturing sector contracted for the fourth month in a row in June to its lowest level of activity since November 2022. Gyles Beckford has the business news.
The union representing Westpac bank members says they're threatening industrial action as a last resort option to get a better wage offer after four months of bargaining. Kim Moodie has the business news.
Households are reluctant to spend on big ticket items although overall consumer spending is higher, according to Kiwibank. Kim Moodie has the business news.
Utilities investor Infratil is to take an 80 percent stake in a Hong Kong based business Console Connect for close to $260 million. Kim Moodie has the business news.
A new report from Retail NZ says more than a third of retailers aren't confident they can survive the next 12 months. Gyles Beckford has the business news.
A clash of heavyweights is looming as the Commerce Commission wants telecommunications concern One NZ, formerly Vodafone, to stop its high profile 100-percent mobile coverage advertising campaign. Gyles Beckford has the business news.
The possible production of sustainable aviation fuel at the former Marsden Point refinery has taken a step forward with further work on the feasibility of such a project. Gyles Beckford has the business news.
Business confidence remains deeply negative as firms are being squeezed between still high inflation and slowing demand. Gyles Beckford has the business news.
New Zealand's productivity is one of the worse among developed economies and needs serious long term commitment and investment to turn it around, according to a new report. Gyles Beckford has the business news.
Consumer confidence is at its best level in 18 months. Anan Zaki has the business news.
An increase in direct flights between China to New Zealand is lifting optimism of a significant lift in business and travel. Anan Zaki has the business news.
The big property investor Kiwi Property believes the downward revision of its credit outlook will be short-lived. Anan Zaki has the business news.
News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6330158395112
Higher unemployment is likely on the way amid lower employment confidence as perceptions about job opportunities worsen. Anan Zaki has the business news.
Consumer NZ is making moves to get action on supermarkets. Gyles Beckford has the business news.
Fletcher Building has cut its earnings guidance because of a slowing economy, a fall in house building, and wet weather. Kim Moodie has the business news.
News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6329765616112
Consumer confidence remains deeply pessimistic as financial pressures weigh on consumers of all ages, income brackets and in every region. Kim Moodie has business.
News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6329710396112
News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6328994506112
News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6328930461112
News from the business sector The dairy company Synlait wants to sell-off its household dairy brands Dairyworks and Talbot Forest Cheese, as it looks to pay down its debt. The Swedish flatpack furniture giant Ikea is finally beginning construction on its first New Zealand store. Consumer NZ wants the Commerce Commission to crackdown on false and misleading environmental claims made by businesses.
News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6328521665112
News from the business sector Kiwifruit marketer Zespri's profit has fallen more than a third as sales volumes fell and costs rose. A Wellington-based tech company behind a carbon footprint calculator says it's disappointing that uptake has been slow among New Zealand banks. Buy New Zealand Made is using artificial intelligence software to help protect the kiwi country of origin logo, as well as that of its clients.
News from the business sector Fonterra has sold its business in Chile for just over a billion dollars. Retirement village operator Ryman Healthcare's bottom line profit is down nearly a third reflecting a smaller gain on the value of its portfolio. The speciality milk company, A2 Milk has revised up its revenue guidance, with underlying profit expected to be little changed from last year.
News from the business sector A review of the Reserve Bank's monetary policy decisions over the past five years indicates inflation would not be as high now, if it had acted sooner. Global logistics business Mainfreight's first half profit is up two-thirds on the year earlier, with all three divisions and five regions contributing significantly. Diversified property developer, Goodman Property Trust, has delivered a strong underlying performance with surging demand for Auckland industrial property.
BNZ has reported record profits of $1.4 billion for the year ended September, up 7 percent on a year ago. Power generator Manawa Energy has reported a strong first half profit boosted by the sale of TrustPower's retail business, amid an otherwise challenging year. Takeover target Pushpay Holdings has announced its profits have more than halved with slower than expected customer growth despite a lift in revenue.
Unemployment is still near record lows, and more financial pressure lies ahead for homeowners.
The chair of mobile donations company Pushpay hopes its shareholders can see value, as its board recommends a takeover deal seen as cheap by some analysts. Anan Zaki has business.
An investment analyst says rival bidders may emerge for mobile donations company Pushpay, after two big shareholders made a billion dollar offer on Friday. Anan Zaki has the business news.
News from the business sector The Financial Markets Authority has given another online investment platform a formal warning for not complying with anti-money laundering requirements. As the dust starts to settle on yesterday's outsized and surprise rise in consumer prices, the head of one of the country's big accounting groups is suggesting the country should be reporting inflation numbers every month and not every three months. Rising commercial rents reflect a thriving prime office rental market in our major cities with interest from offshore investors further boosting demand.
Vero Insurance is the latest life insurance company to be taken to court by the Financial Markets Authority. Business Editor Gyles Beckford has te pūrongo pakihi.
News from the business sector A recovery in households' confidence in the labour market suggests the Reserve Bank has more work to do to stamp out inflation. The Warehouse's full year profit has fallen after a squeeze on its margins, reduced sales, and significant disruption caused by the pandemic. New Zealand King Salmon has deepened its interim loss as it faced increased fish deaths, a lower harvest and a fall in biomass at sea.
News from the business sector A recovery in households' confidence in the labour market suggests the Reserve Bank has more work to do to stamp out inflation. The Warehouse's full year profit has fallen after a squeeze on its margins, reduced sales, and significant disruption caused by the pandemic. New Zealand King Salmon has deepened its interim loss as it faced increased fish deaths, a lower harvest and a fall in biomass at sea.
News from the business sector A recovery in households' confidence in the labour market suggests the Reserve Bank has more work to do to stamp out inflation. The Warehouse's full year profit has fallen after a squeeze on its margins, reduced sales, and significant disruption caused by the pandemic. New Zealand King Salmon has deepened its interim loss as it faced increased fish deaths, a lower harvest and a fall in biomass at sea.
News from the business sector Fonterra says its full year profit is a good one, considering increased milk costs and ongoing supply chain disruptions. The Westpac McDermott Miller Consumer Confidence index for the September quarter rose nearly 9-points, to 87-point-6, where it was during the global financial crisis. The Federal Reserve stuck to the script and expectations with a 75 basis point rise in its benchmark rate to 3.25 percent with a promise of more to come.
News from the business sector Fonterra says its full year profit is a good one, considering increased milk costs and ongoing supply chain disruptions. The Westpac McDermott Miller Consumer Confidence index for the September quarter rose nearly 9-points, to 87-point-6, where it was during the global financial crisis. The Federal Reserve stuck to the script and expectations with a 75 basis point rise in its benchmark rate to 3.25 percent with a promise of more to come.
News from the business sector Fonterra says its full year profit is a good one, considering increased milk costs and ongoing supply chain disruptions. The Westpac McDermott Miller Consumer Confidence index for the September quarter rose nearly 9-points, to 87-point-6, where it was during the global financial crisis. The Federal Reserve stuck to the script and expectations with a 75 basis point rise in its benchmark rate to 3.25 percent with a promise of more to come.
News from the business sector: Spark's shareholders are in line for a big payday, following the partial sale of its cell towers and an improved full year result. Meridian Energy has posted a steady full year underlying profit although its headline number was swelled by the gains from an asset sale. The healthcare and animal care products company EBOS has posted double-digit profit growth, with annual revenue topping Australian $10 billion for the first time.
News from the business sector for 23 August 2022. The retirement village operator Summerset's headline profits have fallen on reduced property value gains, however, stripping out the one-offs its underlying profit increased on the back of strong development margins and new sales demand. Media company NZME's profit is up by more than a third with strong revenue growth. Financial services company Heartland Group has posted a record full year profit on improved lending and constrained costs, as it eyes further expansion in Australia.
News from the business sector Fletcher Building has delivered a strong full year result on the back of a strong construction market and demand for products ..with an outlook for further growth. NZ Automotive Investment's annual meeting next month is shaping up to be more contentious, after it's been hit by another setback. Tighter bank lending and a downturn in the housing market has seen growing demand for non-bank mortgages in the regions.
News from the business sector The electricity company Mercury Energy has posted a bumper profit boosted by a $367 million net gain on the sale of Tilt Renewables, as well as investment in new wind generation. Rural services company PGG Wrightson has an upbeat view of its business and the broad farming sector after it posted an improved full year profit. The Reserve Bank may have to get into a fight with financial markets as it tries to bring inflation back within its target range.
The annual median property price across the country has fallen for the first time in more than a decade.
News from the business sector for 29 July 2022 Consumers are slightly less gloomy and their inflation expectations have fallen to their lowest level in a year. The race is on at Auckland International Airport to scale up its operations in time for peak the summer season. The small New Zealand based and listed exploration company, Chatham Rock Phosphate, continues to hold out hope, it will get a consent to be able to mine phosphate rock from the sea floor in the Chatham Rise region.
News from the business sector An investment analyst sees virtually no chance of the Tiwai Point Aluminium Smelter will get another cut price power deal. An ethical investing interest group is backing the tougher stance on greenwashing. The Stock Exchange is looking at improving the treatment and protection of small shareholders when listed companies raise new capital.
News from the business sector with Nicholas Pointon Inflation and Covid absenteeism are expected to more than half Restaruant Brands' half year result. The consultancy firm EY will grow its online security footprint by launching new cyber security centres in our main cities. Real estate agents and banks will feel the pinch of the declining property market.
News from the business sector Green shoots are emerging in the hotel industry, following an influx of overseas visitors and corporate travellers. A property sector expert believes the share price slide for retirement village and aged care operators is part of the wider market downturn. 2 Degrees appears to be in no rush to join its competitors and sell off its cell towers.
The service sector is at its best level in nearly a year. The latest business news with Nicholas Pointon.
The Government is throwing its backing behind a capital restructure for Fonterra. The latest business news with Nicholas Pointon.
The cost of living has soared again, with inflation at its highest level since the mid-1990s.