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04:46 JBWere's Bernard Doyle on NZ's productivity recession, population growth driving economic growth & advice for NZ sharemarket investors to reduce their holdings

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  • Marc Rivers – Chief Financial Officer Appointment

    20 September 2017 9:37 PM 1

    Today Fonterra has announced the appointment of Marc Rivers to the role of Chief Financial Officer, effective 1 March 2018. Marc is an experienced global finance executive with strong strategic leadership capability. He is known for his commitment to leading and developing his people, with a track record of building diverse and inclusive teams. He is currently

  • Retain buy on LIC Housing, see stable loan growth; asset quality to improve: Axis Cap

    20 September 2017 11:37 AM 5

    Broking and financial services firm Axis Capital has maintained a buy on LIC Housing Finance and expects a target price of Rs 790. The broking firm is of the view that loan growth of the company will remain stable at 15 percent while its asset quality is set to improve. Margin of LIC Housing Finance is likely to bottom out in Q2FY18 with pressure on yields

  • Westlake crash sent students flying through the air, claims witness

    20 September 2017 5:46 AM 2

    A witness to the incident, who opted to stay anonymous, told Newshub the driver was in shock afterwards. He said the car mounted the kerb, before ploughing into the group of students standing at a bus stop outside WGHS. A Year 9 Westlake Girls student was sent flying about 10 metres, while two other older students - one boy and one girl - were flipped

  • Fujitsu fined over efficiency claims

    20 September 2017 4:50 AM 6

    Heat pump supplier Fujitsu has received a landmark fine over claims that its heat pumps were the most efficient in New Zealand. On Wednesday, Fujitsu General New Zealand Limited was fined 310 thousand dollars after pleading guilty to seven charges under the Fair Trading Act for making unsubstantiated or misleading claims from June 2014 to October 2016. Fujitsu

  • More flights cancelled in fuel crisis

    20 September 2017 3:22 AM

    Thirty-six flights have been cancelled today and 9000 Air New Zealand customers alone affected as the fuel crisis deepens. An Auckland Airport spokesperson said of the 36 cancelled flights, 23 were domestic and 13 were international. Some were heading to Sydney, Kuala Lumpur, Vietnam, Fiji and Melbourne and operated by Air New Zealand, Qantas and Singapore

  • Refinery to Auckland pipeline outage update

    20 September 2017 2:54 AM 1

    Fuel customers of Refining New Zealand said they remained confident of maintaining ground fuel supplies into Auckland, supported by initiatives enabled by government. Refining New Zealand is continuing to work on repairing a section of the 170 kilometre long pipeline which connects the Refinery to Auckland International Airport via the Wiri Oil Services

  • Auckland Fuel Crisis Day 7 latest: Government group launched

    20 September 2017 2:54 AM

    As the Auckland fuel crisis continues into its seventh day, the government has formed an action group to ensure jet fuel supply into Auckland. Flights continue to be disrupted in Auckland following the rupture of a pipe between Marsden Point and a petrol company-owned Wiri storage depot. Airlines have been rationing fuel by 30% but this is expected to be lifted

  • Jet fuel rations continue until next week

    20 September 2017 2:28 AM 2

    Fuel rationing at Auckland Airport will continue to next Thursday as airlines cancel flights and operate using about one third of their normal jet fuel supply. Airlines in Auckland will continue operating with limited fuel supplies as rationing is expected to continue through until next week. This rationing was proving effective and the fuel industry

  • Seymour: 'I can't afford my own house in Auckland'

    20 September 2017 1:55 AM

    Act Party leader and Epsom MP David Seymour says he can't afford to buy his house in Auckland. Seymour told NZ Herald Focus' Tristram Clayton that the fact he can't afford to buy the house where he lives shows how deep the housing crisis is in Auckland. Seymour earns about $190,000 a year as an MP (plus benefits) and was questioned by Clayton about his previous

  • NZ Dollar Sentiment Bias Bearish After Gain on Current Account Data

    20 September 2017 1:11 AM

    The shortfall registered at –NZ$0.618 billion, far smaller than the –NZ$0.9 billion expected by economists. The deficit-to-GDP ratio improved to -2.8% from -3.1% previously. That matched the reading from the fourth quarter of 2016, which at the time marked smallest negative contribution to overall growth from the external sector in three years. Of the major