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Air New Zealand's massive profit
Business

Air New Zealand's massive profit

The company has just revealed it pushed up pre-tax normalised earnings a massive 49 per cent to report $496 million for the 2015 financial year. Statutory earnings before taxation were $474 million and statutory net profit after tax was $327 million, up a massive 24 per cent. Chief executive Christopher Luxon said the record result was due to "enhancing the customer experience and further developing the airline's people and culture" which he said had resulted in "a terrific 2015 financial year across all three of these commitments."

Business Herald: Kiwi Saver turmoil
Business

Business Herald: Kiwi Saver turmoil

There has been a lot of turmoil in global share markets in the last few days David Boyle head of investor education at the Commission for Financial Capability talks about what it means for your KiwiSaver fund.

John Key: 'Reasonably big fall' in NZ markets
Business

John Key: 'Reasonably big fall' in NZ markets

The New Zealand share market opened sharply weaker for the second day in a row as investors worldwide continued to offload their shares in the wake of extreme market volatility in the world's second biggest economy - China.

Mood of the Boardroom - the politicians speak
Business

Mood of the Boardroom - the politicians speak

New Zealand's business leaders gathered in Auckland for the annual Mood of the Boardroom event. Watch Finance Minister Bill English and Labour finance spokesman Grant Robertson give their views on the NZ economy.

Samsung unveils new phones
Business

Samsung unveils new phones

Samsung has unveiled two new Android smartphones with jumbo screens as it seeks to recapture some of the sales lost to Apple after larger iPhones came out last year.

Mood of the Boardroom - 2015
Business

Mood of the Boardroom - 2015

NZ's top business leaders gathered in Auckland today, to discuss the latest Mood of the Boardroom survey. Anne Gibson talks to some of those attending.

Rising Stars: Chris Pescott
Business

Rising Stars: Chris Pescott

In the latest of our rising stars of business series, business reporter Holly Ryan talks starting business at a young age, advice and business practice with Perceptive Research founder and chief executive Chris Pescott.

Facebook ready to test giant drone for internet service
Business

Facebook ready to test giant drone for internet service

Facebook says it will begin test flights later this year of a solar-powered drone with the wingspan of a Boeing 737, the next stage of its campaign to deliver Internet service to remote parts of the world. Engineers at the giant social network say they've built a drone with a 140-foot wingspan that weighs less than 1,000 pounds. It will use lasers to send Internet signals to stations on the ground. Source: Mark Zuckerberg/Facebook

Rising Stars: Abbie Reynolds
Business

Rising Stars: Abbie Reynolds

In the latest of our rising stars of business series, business reporter Holly Ryan talks mentors, advice and business goals with Vodafone's head of sustainability and foundation Abbie Reynolds

Canterbury postgrads' business first of its kind
Business

Canterbury postgrads' business first of its kind

Two University of Canterbury postgraduate students have launched a company which is the first in New Zealand to sell ethically-made organic business shirts. Engineering management students Samantha Jones and Lina Kay have just launched their online venture Little Yellow Bird, which sells ethically sourced and made clothing from India. Jones, who spent much of her childhood growing up in third world and developing countries, says a percentage of the profits from each shirt is invested into different community projects. Credit: NZN Video

2degrees enters NZ broadband market
Business

2degrees enters NZ broadband market

The third biggest of the NZ telcos, 2degrees, has announced it's officially entering the broadband market today with the launch of its first consumer plans. It has published this corporate video outlining the move.

Reserve Bank cuts OCR to 3 per cent
New Zealand

Reserve Bank cuts OCR to 3 per cent

The Reserve Bank cut the Official Cash Rate by 25 basis points to 3 per cent this morning and banks quickly followed suit, cutting their own floating mortgage rates. New Zealand's biggest bank, the ANZ, cut its rates by 0.25 per cent to 6.24 per cent for its floating rate and 6.35 per cent for its flexible home loans. The new rates will take effect for new customers from Monday July 27 and for existing customers from August 10.

OCR: John Key on cash rate cut
New Zealand

OCR: John Key on cash rate cut

NZIER's monetary policy shadow board favours a cut to the official cash rate of 25 basis points to 3 per cent tomorrow. But as the next best option there is more support for an on-hold decision than for a cut of 50 basis points.

Queens Square development
Business

Queens Square development

The 226-unit block is being promoted as on "the Nanjing Road of Auckland" and is due to rise on Real Groovy's Queen St site near Karangahape Rd.

Suburban Auckland apartments
Business

Suburban Auckland apartments

With pressure on land, Auckland Council’s new study shows a “gap” in housing stock: more suburban terraced housing, townhouses and apartments are needed.