Business

Greater food safety reassurance needed over M bovis – exporter

Greater food safety reassurance needed over M bovis – exporter

An infant formula exporter says he‘s been fielding concerned calls from around the world about Mycoplasma bovis, and the government should be doing more to reassure consumers. Photo: RNZ / Alexa Cook New Image Group founder Graeme Clegg said his business had been fielding inquiries from all around the world […]

by August 16, 2018
ANZ sells off life insurance arm to American giant

ANZ sells off life insurance arm to American giant

The ANZ Bank is selling its OnePath life insurance business to American-based giant Cigna. Cigna will pay $700 million for OnePath life insurance business, which is owned by ANZ Bank. Photo: RNZ / Claire Eastham-Farrelly Cigna will pay $700 million for OnePath, which it plans to merge with its own […]

by August 16, 2018
Auckland Airbnb hosts sound warning on tax

Auckland Airbnb hosts sound warning on tax

Airbnb says its hosts are happy to pay the new tax proposed by Auckland Council – but the hosts themselves say it could force some of them out of the sector. Photo: AFP This comes after a Deloitte report showed that Airbnb guests pumped an estimated $660 million into the […]

by August 16, 2018
Finance companies fined $720k for ‘cynical‘ repo tactics

Finance companies fined $720k for ‘cynical‘ repo tactics

Two Auckland finance companies have been fined $720,000 for what the judge has described as “cynical” and “deliberate” offending. Budget Loans Limited and its sister company Evolution Finance have also been ordered to pay $53,000 to nine victims for emotional harm and $38,000 in refunds and credits to borrowers. The […]

by August 16, 2018
Businesses ‘should pay a fair price‘ for power – aluminium smelter

Businesses ‘should pay a fair price‘ for power – aluminium smelter

Tiwai Point aluminium Smelter Photo: PHOTO NZ The financial position of the Tiwai Point aluminium smelter has improved to its best level in years, but it has renewed its criticism of the high cost of power. The smelter‘s owner, Pacific Aluminium, made an after-tax loss of $18 million for the […]

by August 16, 2018
NZ economy forecast set to outpace most of OECD

NZ economy forecast set to outpace most of OECD

The New Zealand economy is set to grow at a faster pace than most of the countries in the 35-strong OECD, with activity shifting from consumption to investment. Photo: 123rf In its biannual economic outlook, the OECD forecast economic growth of three percent in 2018 and 2019. The country‘s economic […]

by August 16, 2018
Economy expected to grow despite downbeat businesses

Economy expected to grow despite downbeat businesses

The economy will continue to post solid growth despite downbeat business sentiment, slowing immigration and the Mycoplasma bovis threat, says the Institute of Economic Research (NZIER). Photo: 123rf In its latest quarterly predictions, NZIER said businesses were doing well, even if they did not sound confident. “Although businesses remain downbeat […]

by August 10, 2018
RBNZ warns M bovis could hurt financial system

RBNZ warns M bovis could hurt financial system

The spread of the cattle disease Mycoplasma bovis could lead to losses for banks, the Reserve Bank has warned. Photo: RNZ / Rebekah Parsons-King In its six monthly update on the health of the financial system, the central bank highlighted the outbreak as an emerging risk for the dairy industry. […]

by August 10, 2018
Airbnb guests pump $700m into NZ economy

Airbnb guests pump $700m into NZ economy

Airbnb guests have generated an estimated $700 million for the New Zealand economy last year. Photo: AFP A Deloitte report about the economic impact of the accommodation rental website found three quarters of guest spending was on services and goods other than accommodation. About 1.4 million people stayed with Airbnb […]

by August 10, 2018
F&P Healthcare makes record full year profit

F&P Healthcare makes record full year profit

Leading manufacturing company Fisher and Paykel Healthcare has posted a record full year profit on strong hospital demand for its face masks and higher margins. One of the breathing masks built by F&P Healthcare to treat obstructive sleep apnea. Photo: Supplied / F & P Healthcare Its net profit for […]

by August 10, 2018