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21,116km for a beer and brewery
Business

21,116km for a beer and brewery

Timur flew 21,116kms from Magadan, Russia, just to taste beer and buy 2 breweries. He couldn't speak any English so he had to use Google Translate to communicate.

Air NZ makeover
New Zealand

Air NZ makeover

The new Air NZ livery in a timelapse and the unveiling of the new Boeing 787-9 Aircraft at Boeing's Everett factory near Seattle. Courtesy Air New Zealand/YouTube.

 IMF: Uneven global recovery
Business

IMF: Uneven global recovery

In its latest World Economic Outlook, the IMF says that although the global recovery is gaining strength, there are risks to the outlook in both advanced and emerging markets countries. Courtesy: IMF

OCR increased to 2.75pc
Business

OCR increased to 2.75pc

Reserve Bank governor Graeme Wheeler lifted the official cash rate a quarter-point to 2.75 per cent in the first move of a tightening cycle, and signalled potential for a steeper track for future hikes as he tries to prevent inflation accelerating.

Key: Rising power prices
New Zealand

Key: Rising power prices

Big rises in household power bills are largely because of higher charges from Transpower to recover the cost of recent national grid upgrades, says Prime Minister John Key. Consumers in Wellington and Auckland have recently been told by power companies, including Genesis and Meridian, of big increases in their daily fixed charges which are only partly offset by small decreases in per unit charges.

Business: Air NZ profit flying high
New Zealand

Business: Air NZ profit flying high

Air NZ has unveiled a record interim financial result for the first half of the 2014 financial year. The airline says its net profit after tax was $140m - a 40 per cent jump on the same period the year before. Chief executive Christopher Luxon said the hard work of the airline's 11,000 staff had placed the airline in a position where it was able to adapt to a changing economic and competitive environment. A good economic outlook in the airline's 'key revenue markets' was good news, said Luxon, with the airline well placed with new planes arriving soon.

Genesis and State housing for sale
New Zealand

Genesis and State housing for sale

The Government has announced its Genesis share offer will proceed next month but it may sell less than the 49 per cent offered if there is not enough demand from potential buyers in a "front end bookbuild".The Government expects to sell between 30 per cent and 49 per cent of the shares in genesis. When the programme was first mooted, the government said it would offer up to 49 per cent of power companies.

Key: Genesis Energy partial sale
New Zealand|Politics

Key: Genesis Energy partial sale

Prime Minister John Key has confirmed the Government will go ahead with the partial privatisation of Genesis Energy over the next month or so but has underlined the sale will be the last one under a National Government.

Christchurch: New housing and park
New Zealand

Christchurch: New housing and park

Canterbury Earthquake Recovery Minister Gerry Brownlee says the development of housing within Christchurch’s new frame will provide exciting opportunities for inner-city living and help with renewal of the central city. “The Crown will build the central park, as well as the Margaret Mahy Family Playground and streetscape, and provide serviced Super-Lots to help developers build each stage of the new community,”

Watch: Skypath animation
New Zealand

Watch: Skypath animation

People will be able to bike or walk from Devonport to St Heliers via the proposed SkyPath, crossing the water under a new tube-like structure suspended beneath the Auckland Harbour Bridge.

Telecom changing to Spark (supplied)
New Zealand

Telecom changing to Spark (supplied)

Telecom intends to change its name later this year to Spark, Simon Moutter CEO talks about the intention to change the name. The company said as it announced flat net profit of $167 million for the 6 months ending 31 December 2013. Moutter said "Spark better reflects the company's new direction and the aspirations it has for its place in the life of New Zealanders".

Jones: Countdown 'leaned on' suppliers
New Zealand

Jones: Countdown 'leaned on' suppliers

Labour's Shane Jones further escalated his battle with Countdown today by suggesting in Parliament that a leading Australasian businessman has "leaned on'' local suppliers to discourage them from taking part in a Commerce Commission inquiry into the supermarket giant's business practices.

'Blackmailed' by supermarket chain - MP
New Zealand

'Blackmailed' by supermarket chain - MP

Supermarket giant Countdown - already facing a consumer backlash over its Australian parent's ban on New Zealand products - is accused of blackmailing New Zealand suppliers into paying to keep their products on its shelves.

China Southern  Dreamliner arrives in Christchurch
Business

China Southern Dreamliner arrives in Christchurch

Footage of the arrival of the first direct flight from Guangzhou into the South Island this week. 228 Chinese visitors were flown here to celebrate Chinese New Year and marked the first time a Dreamliner has flown commercially to Christchurch, highlighting the increasing numbers of Chinese visitors choosing the South Island over the north.

Super Bowl ad: Cheerios
Business

Super Bowl ad: Cheerios

The cereal maker brings back an interracial family that starred in a prior spot. This one shows a father telling his daughter that they're going to have an addition to the family, a baby boy. Then, the little girl strongly suggests they also get a puppy.

Inflation poses threat to NZ
Business

Inflation poses threat to NZ

Rising inflationary pressures exacerbated by accelerating building activity pose a threat to New Zealand's economic growth and warrant a return to more normal interest rates, Reserve Bank governor Graeme Wheeler says. The economy has been expanding beyond its potential growth rate for "some time" and inflationary pressures are beginning to appear, particularly in the construction sector where resources are being reallocated to deal with the Canterbury rebuild and Auckland housing construction