Business & Markets

NZ shares dragged lower

New Zealand shares fell, dragged lower by Fletcher Building hitting a six-week low, as the company's board advised a second large earnings downgrade this year and the departure of its chief executive, Mark Adamson. The S&P/NZX50 Index dropped 60.31...... Read More

Dollar hits three-month low against Aussie

The New Zealand dollar touched a fresh three-month low against the Australian dollar after strong Aussie jobs numbers, but pared some of its losses over the course of the day. The kiwi was trading at 92.51 Australian cents at 5pm versus 92.40 Australian...... Read More

Soaring butter prices puts heat on buyers

Bakeries are feeling the churn, as global butter prices hit a record high. Butter prices have surpassed NZ$8100 per metric tonne on the Global Dairy Trade market for the first time in the auction's history - a rise of nearly 3.5 percent from last...... Read More

$7K fine after three-year immigration advice case

An Auckland woman must pay a fine of $7,000 after an Immigration Advisers Authority (IAA) investigation into her history of providing immigration advice through a radio broadcast programme without a licence. The woman was convicted as a result of charges...... Read More

Mixed fortunes for NZ dollar

The New Zealand dollar extended its slide against the Aussie but some market participants say it may reverse course and rise in the medium term if the Reserve Bank begins raising interest rates ahead of its counterpart across the Tasman. The kiwi was...... Read More

NZX50 at record

New Zealand shares hit a record as weaker CPI numbers bolstered shares, with dividend stocks like Mercury New Zealand and Trustpower benefiting. The S&P/NZX50 Index gained 7.76 points, or 1 percent, to 7,707.33. Within the index, 28 stocks rose, 15 fell...... Read More

NZ dollar falls vs Aussie

The New Zealand dollar took a tumble against the Australian dollar after weak domestic inflation contrasted sharply with a more upbeat economic outlook from the Reserve Bank of Australian in the minutes of its last meeting. The kiwi traded at 92.85 Australian...... Read More

Kiwifruit audit reveals underpaid workers

At least half of the kiwifruit contractors who have been audited or investigated in the Bay of Plenty have failed to provide employment contracts or pay the minimum wage, an MBIE investigation has found. A Labour Inspectorate operation audited 62 labour...... Read More

Shares up as retirement stocks continue to gain

New Zealand shares rose broadly yesterday, with the market led by continued gains from Summerset Holdings and Metlifecare, while smaller stock Pushpay Holdings kept rising too. The S&P/NZX50 Index rose 49.8 points, or 0.65 percent, to 7,699.57. Within...... Read More

Dollar trades near five-month high

The New Zealand dollar traded near a five-month high after weak US inflation, retail sales and consumer sentiment figures stoked talk the Federal Reserve may not raise interest rates for the third time this year. The kiwi traded at 73.42 US cents as...... Read More