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Business headlines with summaries.
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Under-fire Synlait Milk needs $218m deal to avoid insolvency
21 Aug 2024Debt laden dairy company Synlait Milk will raise close to $218 million from its two main shareholders to preserve its future.
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Business to shut entire operation as result of energy prices
20 Aug 2024Earlier this month, Winstone Pulp International paused work at its two sites to consider its future.
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Property investors 'will be back in the hunt' as market conditions improve
20 Aug 2024Property investors will switch from being the "hunted" to the "hunters" as conditions improve for them, Kiwibank says.
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Tiwai Point smelter agrees to further cut in energy use
The decision is aimed at helping to ease the country's energy supply constraints.
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Number of sheep in New Zealand falls to 23 million
20 Aug 2024It's a continuation of a trend that has seen sheep numbers dropping for the last decade.
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Mangement shake up at Comvita after heavy loss announced
20 Aug 2024Among the changes the chief executive will become an advisor to the board while the board chair becomes acting chief executive.
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Half of population saving for retirement despite cost-of-living crisis
20 Aug 2024New research found more than half of people describe their financial position as "uncomfortable", with women feeling it worse. Audio
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'Our government won't be cowered by the big four banks' - Willis
The Finance Minister says she's expecting "action" on the Commerce Commission's recommendations for the banking sector.
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Power companies withdraw deals due to price squeeze
20 Aug 2024Powerswitch says half-a-dozen electricity retailers are affected, warning of more pain to come. Audio
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ComCom calls for beefed up Kiwibank and open banking
20 Aug 2024The commission has revealed its eagerly awaited final report into bank competition and wants rules eased.
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Mercury more than doubles full-year profit
20 Aug 2024Operating earnings improved thanks to high wholesale electricity prices and changes in the value of unhedged financial assets.
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Authority puts spotlight on power profits
20 Aug 2024But electricity retailers are not happy. Audio
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Fletcher Building appoints new chief executive
20 Aug 2024The troubled building products and construction firm made the appointment after a six month search.
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Small businesses resist using digital payment systems despite customer demand
20 Aug 2024Only 17 percent of small businesses offer digital payment methods such as Apple Pay and Google Pay, Xero says.
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Why the unemployment rate is worse than you think
New data from Stats NZ shows the jobless rate is rising quickly.
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Job ads up, but competition still fierce - Seek
20 Aug 2024It's the first time in a year the number of ads has gone up.
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How far will home loan rates fall?
The Reserve Bank has signalled further rate cuts to come, but what will that mean for borrowers?
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ANZ cuts mortgage rates
ANZ Bank has cut some of its fixed home loan and term deposit rates again.
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SkyCity warns shareholders of $94.3m writedown
19 Aug 2024It said the non-cash charge reflected the costs of the move to electronic gambling cards.
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Light at end of economic tunnel as inflation, interest rates ease
19 Aug 2024The economy has been showing "increasing signs of brittleness" - but there are brighter days ahead.
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BNZ cuts rates for first-home buyers
Rates for people with small deposits are now better than what was available to those with 20 percent earlier this year, a broker says.
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A2 Milk increases full-year profit
19 Aug 2024The specialty dairy company's boost comes amid an improved Chinese market.
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Freightways reports slight drop in profit
19 Aug 2024The company owns brands including New Zealand Couriers, Post Haste and Big Chill Distribution.
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