Business

Reconsider Crafar farms deal, Government told

A new recommendation on the Crafar farm deal is expected soon following a High Court decision.

Importers, exporters brace for more strikes

Importers and exporters are braced for more pain as a result of industrial action at Ports of Auckland.

LGFA bonds sell at top of price band

The Local Government Funding Authority got $300 million worth of debt off the books at its debut auction today.

Australia to hike taxes for rich

Australia has narrowly approved tax hikes for the wealthy that it hopes will help it meet its pledge to deliver a budget surplus next year.

Forty jobs to go as Petone plant closes

Forty jobs will go after the closure of Exide's Petone plant was announced today.

Fish shops targeted in black market operation

Fisheries officers investigated several Taranaki food retailers this week after video surveillance found they were allegedly selling fish bought on the black market.

Auckland, Wellington expensive for expats

Auckland and Wellington are among the 20 most expensive cities for expatriates to live in.

SkyCity reaps rewards of RWC

CHASING THE CHIPS: High-rollers from Asia are to be targeted by SkyCity as air links between China and Auckland grow.

Casino and hotel operator SkyCity has reported a record first-half net profit of $78.8m, including a welcome boost from the Rugby World Cup.

CBA posts record A$3.6 billion profit

Commonwealth Bank has posted a record interim profit of A$3.62b as bad debt charges fell, and declared it has no plans to join rival banks in slashing staff numbers.

Nasdaq website disrupted by online attacks

Reuters

Websites of exchange operators Nasdaq and BATS have been attacked over the last 24 hours, causing ongoing disruptions for those trying to use the sites, spokespersons for the companies said on Tuesday.

PGC short of independent directors

Pyne Gould Corporation will spend the next six weeks short of the required number of independent directors while a takeover is underway.

New products help boost Domino's profit

Pizza maker Domino's has benefited from the launch of new products and reducing its fat content.

NZ stocks fall as earnings disappoint

NZ stocks extended their declines during the morning after a weaker-than-expected interim earnings report from SkyCity.

AMP NZ Office profit down $8m

AMP NZ Office saw interim profit after tax fall $8 million, reflecting a decline in income from its property assets.

Taxpayer wearing whiff of failure

CHALKIE - © Fairfax NZ News

OPINION: The smell of bad deals still hangs in the air from many a finance company collapse. Chalkie follows his nose.

ASB posts record first-half profit

ASB posted a record $372 million tax-paid profit for the six months to December, up 31 per cent.

SFO launches investigation into gold trader

The SFO has launched a formal investigation into gold and precious metal trading company Grace Holdings, trading as Bullion.Buyer.co.nz.

No substitute for Kiwi hospitality - sheikh

An Arab sheikh has penned an open letter to New Zealand thanking the country for playing host to him during the Rugby World Cup.

Online advertising continues to grow

The growth of online advertising in NZ continues, with spending on digital media up 24 per cent last year.

World Cup prompts shoppers to open wallets

The Rugby World Cup helped boost retail spending to record levels in the December quarter.

SkyCity rings up record first-half profit

Listed casino and hotel operator SkyCity reported a record first-half net profit, including a welcome boost from the Rugby World Cup.

Greece fails to pull out of recession

Greece's economy remained stuck in a deep recession in the fourth quarter, according to official figures that confirm the painful effects of austerity reforms intended to lower debt.

Markets retreat as Greeks scramble for cash

Global equity markets retreated overnight, with investors waiting to see if Greece can deliver on the 325 million euros in budget cuts.

House sales rise, median price stable

House sales rose in January from a year ago but prices remain stable, the Real Estate Institute says.

'Jesus is a c...' retailer fined

A retailer who was selling hooded tops with the words "Jesus is a c..." has been fined.

NZ dollar back below US83 cents

The NZ dollar dipped below the US83 cent mark overnight, amid lingering concerns in Europe and softer-than-expected US retail sales.

Opus on prowl to engineer more business

Opus International, an NZX-listed engineering consultancy, is on the hunt for more acquisitions in a bid to build its overseas business.

Hold-outs block Kerr's ambitions

MARTA STEEMAN - © Fairfax NZ News

Businessman George Kerr is stepping up the pressure on about 3000 small Pyne Gould Corporation shareholders who refuse to allow him unfettered control of the old Canterbury investment company.

Mainfreight hurt by Europe 'hiccup'

Shares in trucking and logistics company Mainfreight were punished by the market after it revealed a "hiccup" in its European operation yesterday.

Provincial property pressured

While Auckland property prices outperform the rest of the country, homeowners in the provinces are finding their properties are worth less than a year ago.

Wellington's Rugby World Cup windfall

The Rugby World Cup pumped nearly $100 million into the Wellington economy – more than double previous estimates – a report says.

Retirement savings go beyond the family home

Kiwis' love of property still features strongly in retirement plans, although people have a wider range of nest eggs than is usually thought.

Fyfe departure may be earlier

Pressure is mounting on Air New Zealand to appoint a new CEO to replace Rob Fyfe by the end of the airline's financial year on June 30.

Christchurch's Holiday Inn to be demolished

Earthquake-damaged buildings are demolished

The planned demolition of another of Christchurch's landmark hotels has been confirmed by the building's owner.

EPIC fund shareholders learn of $8.8m payout

The shareholders in an infrastructure fund set up by George Kerr may be stunned at the $8.8m the fund has to fork out.

Kirkcaldie & Stains gears up for online future

Wellington's Kirkcaldie & Stains has enjoyed an increase in sales and is preparing up to move online by the end of the year.

Stocks slip after Mainfreight result

NZ stocks fell today after ratings agency Moodys downgraded Portugal, Spain and Italy.

Kiwi falls on European downgrades

The NZ dollar was down against the greenback today, after ratings agency Moodys slashed its ratings.

Spoof Qantas Twitter account shut down

A satirical Twitter account masquerading as part of the Qantas PR team has been suspended at the airline's request.

A survival guide for office introverts

For extroverts, the workplace can be a social playground. But for other more retiring souls, it's a minefield of awkwardness.

US financial crisis chair quits mortgage firm

The former chairman of a US federal commission set up to look into the causes of the financial crisis has stepped down from a group seeking to profit from distressed mortgages.

Bridgecorp loans under the spotlight

PricewaterhouseCoopers receiver Colin McCloy has given evidence in the trial of three Bridgecorp directors this afternoon.

Apple shares break above US$500

Apple's stock broke above US$500 for the first time, the latest step in a rally that began after the company reported staggering quarterly sales and profits.