Article – BusinessDesk

Legislate capital gains tax before election or risk ‘mischief’, Cullen says

By Pattrick Smellie

Oct. 18 (BusinessDesk) – Passing new capital gains tax legislation into law before the 2020 election is important to reduce the potential for political “mischief”, the chair of the Tax Working Group says. Read more »

Article – BusinessDesk

Imported coal needed to keep the lights on in NZ

By Gavin Evans

Oct. 18 (BusinessDesk) – Genesis Energy is buying coal and gas in the wholesale market to supplement fuel supplies, while it awaits the first deliveries of imported coal in early December. Read more »

Article – BusinessDesk

By Nikki Mandow

Oct. 18 (BusinessDesk) – Briscoe Group boss Rod Duke sat in the public gallery at the High Court today, where he faces a legal challenge to his plan to convert a boatshed on a popular inner-city Auckland beach to a James Bond-style helicopter pad. Read more »

Article – BusinessDesk

Mexico’s Finaccess dangles 24% premium to buy control of Restaurant Brands

By Paul McBeth

Oct. 18 (BusinessDesk) – Mexico’s Finaccess Capital has offered $881.5 million – a 24 percent premium – to buy three-quarters of Restaurant Brands New Zealand. Read more »

Article – BusinessDesk

Larry Ellison’s NZ yacht company key to America’s Cup rival

By Nikki Mandow

Oct. 17 (BusinessDesk) – A Warkworth-based company owned by multi-billionaire IT mogul Larry Ellison and part-funded by Callaghan Innovation is at the centre of a bid to take the wind out of the sails of the next America’s Cup competition in Auckland. Read more »

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Marsden Maritime eyes benefits from upper North Island transport study

By Gavin Evans

Oct. 17 (BusinessDesk) – The government’s strategic review of upper North Island logistics chains may recognise the value of Northport in a way previous studies did not, Marsden Maritime Holdings chair John Goulter says. Read more »

Article – BusinessDesk

NZ screen sector needs special employment carve-outs to stay competitive

By Paul McBeth

Oct. 17 (BusinessDesk) – New Zealand’s screen sector needs its own employment framework to remain globally competitive, a working group says. Read more »

Article – BusinessDesk

AWF Madison drops 3.7% as failed construction firms dent earnings

By Paul McBeth

Oct. 17 (BusinessDesk) – AWF Madison Group shares fell 3.7 percent after the labour-hire firm said the collapse of three building companies dented its earnings. Read more »

Article – BusinessDesk

By Pattrick Smellie

Oct. 16 (BusinessDesk) – A defiant National Party leader, Simon Bridges, has emphatically denied claims by his dissident former colleague, Jami-Lee Ross, that Bridges was involved in arranging to conceal a $100,000 donation from a Chinese businessman. Read more »

Article – BusinessDesk

Jami-Lee Ross accuses Bridges of corruption, resigns to trigger by-election

By Pattrick Smellie

Oct. 16 (BusinessDesk) – Dissident National Party MP Jami-Lee Ross will resign from Parliament on Friday, triggering a by-election in the safe National electorate seat of Botany in east Auckland. Read more »

Article – BusinessDesk

NZ 3Q inflation higher than expected but driven by one-offs

By Rebecca Howard

Oct. 16 (BusinessDesk) – Higher-than-expected third-quarter inflation is unlikely to take rate cuts off the table as it was largely driven by higher petrol prices, something the Reserve Bank has said it will look through. Read more »

Article – BusinessDesk

Fulton Hogan heads off quarry quandry by leaving Huntly site

By Paul McBeth

Oct. 15 (BusinessDesk) – Fulton Hogan allayed competition concerns surrounding its purchase of Stevenson Group’s construction materials business by leaving the Huntly quarry out of the acquisition. Read more »

Article – BusinessDesk

NZ dollar gains vs Aussie as local inflation seen accelerating

By Paul McBeth

Oct. 15 (BusinessDesk) – The New Zealand dollar gained against its trans-Tasman counterpart as investors look to consumer price data tomorrow expected to show a faster pace of inflation. Read more »

Article – BusinessDesk

Economists expect RBNZ will look through faster pace of inflation

By Rebecca Howard

Oct. 12 (BusinessDesk) – Rising oil prices, Auckland’s regional fuel tax, and a sharply weaker New Zealand dollar are likely to have pushed inflation higher in the third quarter but not enough to ruffle any feathers at the Reserve Bank. Read more »

Article – BusinessDesk

Jenny Shipley starts her evidence in High Court in Mainzeal case

By Nikki Mandow

Oct. 11 (BusinessDesk) – Former Prime Minister Jenny Shipley has taken the stand in the high-profile case against directors of failed property company Mainzeal. Read more »

Article – BusinessDesk

NZ house prices rise to new record as dwindling supply saps turnover

By Paul McBeth

Oct. 11 (BusinessDesk) – New Zealand house prices rose to a record in September as a lack of listings led to fewer sales in the month and longer closing periods, the Real Estate Institute says. Read more »

Article – BusinessDesk

TeamTalk forecasts steady earnings amid network roll-out

By Gavin Evans

Oct. 10 (BusinessDesk) – TeamTalk is expecting similar full-year earnings despite higher operating costs and investment. Read more »

Article – BusinessDesk

NZ guest nights at record in August as tourism boom continues

By Rebecca Howard

Oct. 10 (BusinessDesk) – New Zealand guest nights hit an annual record in August as both domestic and international tourism numbers continue to climb. Read more »

Article – BusinessDesk

By Paul McBeth

Oct. 10 (BusinessDesk) – New Zealand spending on electronic cards grew in every sector for a second month running amid upbeat consumer confidence and increased government support for households. Read more »

Article – BusinessDesk

By Gavin Evans

Oct. 10 (BusinessDesk) – Vector has agreed a settlement with the Commerce Commission for breaches of its network quality standards in 2015 and 2016. Read more »