Greens elect James Shaw as new male co-leader

The 42 year-old, Wellington-based former management consultant replaces Russel Norman and joins female co-leader Metiria Turei leading the 25 year-old political party, which had hoped to push its vote close to 15 percent at the last election but achieved 11 percent and was disappointed not to increase its haul of 14 elected MPs. Detailed results of the preferential voting system that gave Shaw hi…

  • Dairy prices drop 40 percent in past year Newstalk ZB - 15 hours ago

    Agri-business lender Rabobank says dairy prices are now up to 40 percent below the same time last year.

  • Fish oil company posts $2.8m loss Newstalk ZB - 15 hours ago

    Fish oil manufacturer SeaDragon has more than doubled annual sales, but it's posted a loss of $2.8 million.

  • American Express president dies suddenly AAP - 15 hours ago
    American Express president dies suddenly

    American Express says president Ed Gilligan has died suddenly after falling ill while flying on a corporate plane to New York. The company says the 55-year-old executive was coming back from a business ...

  • Small businesses back budget AAP - Fri, May 29, 2015 9:01 PM NZST
    Small businesses back budget

    Treasurer Joe Hockey's second budget has gone over well with small businesses, with close to 60 per cent backing the government's $5.5 billion support package. The package was predictably most popular with businesses that will reap the benefits of the government's tax cuts and incentives, though larger businesses were less enthusiastic. Under the small business package, businesses with turnover of less than $2 million will be able to immediately write off the value of assets worth less than $20,000.

  • Aussie dollar's fall eases AAP - Fri, May 29, 2015 7:35 PM NZST

    The Australian dollar's slide on weaker than expected business investment figures has eased after the currency hit a six week low. It fell as low as 76.18 US cents in the early hours of Friday, its weakest level since April 15, due to Thursday's surprisingly soft business investment figures. The Australian dollar steadied during Friday's local session as traders wait for more key figures next week, including economic growth, National Australia Bank senior currency strategist Emma Lawson said.

  • $A falls' eases ahead of big data week AAP - Fri, May 29, 2015 7:17 PM NZST

    The Australian dollar's slide on weaker than expected business investment figures has eased ahead of more key economic readings. At 1700 AEST on Friday, the local currency was trading at 76.53 US cents, ...

  • Aust market up more than 1pc AAP - Fri, May 29, 2015 7:06 PM NZST

    The Australian share market has made its best single-day gain in a month as investors snapped up beaten-down stocks. CMC Markets chief market analyst Ric Spooner said the jump in the market was surprising given that there was no obvious driver or news when the session started. Mr Spooner said Friday's rally may have been driven by significant interest from overseas investors.

  • Aussie bonds rise on recession talk AAP - Fri, May 29, 2015 6:39 PM NZST

    Australian bond futures prices have firmed on fears the nation is heading into a recession. Investors are still reacting to Thursday's poor business investment figures, UBS interest rate strategist Matthew ...

  • Evolution raises $172m for Cowal mine AAP - Fri, May 29, 2015 6:25 PM NZST

    Evolution Mining is set to become Australia's second largest gold producer after successfully raising funds to buy a NSW gold mine. Evolution has raised $172 million from institutional investors to help fund the acquisition of Cowal mine, in central NSW, from the world's largest gold miner, Barrick Gold. Evolution is buying Cowal for $US550 million ($A702.74 million) in a deal that will significantly lift its gold production.

  • Stocks to watch on Friday AAP - Fri, May 29, 2015 6:20 PM NZST

    Stocks to watch on the Australian stock exchange at the close on Friday: CBA - COMMONWEALTH BANK - up $1.59, or 1.9 per cent, to $85.09 WBC - WESTPAC BANKING CORPORATION - up 44 cents, or 1.33 per cent, ...

  • Aust shares close higher AAP - Fri, May 29, 2015 6:17 PM NZST

    The Australian share market has closed higher, with the big banks driving the broader market to its best one-day gain in a month. At the close on Friday, the benchmark S&P/ASX200 index was 64.1 points, or 1.12 per cent, higher at 5,777.2, while the broader All Ordinaries index was up 60.3 points, or 1.06 per cent, at 5,774.9, according to preliminary figures.

  • Oil Search says low prices to stay AAP - Fri, May 29, 2015 6:03 PM NZST

    Oil Search boss Peter Botten has warned oil prices are likely to stay low for the next five years, putting up to $5.5 trillion worth of projects around the world at risk. Mr Botten said the rise of US shale producers, combined with OPEC countries' determination to preserve their market share meant it would be difficult for oil prices to rise significantly above their current levels. "There are market forces that mean the oil price is not going to rise massively over the next five or so years," he said.

  • Virgin boss rubbishes open skies plan AAP - Fri, May 29, 2015 6:00 PM NZST
    Virgin boss rubbishes open skies plan

    Virgin Australia boss John Borghetti has rubbished a federal government plan to allow foreign airlines to fly domestic routes in the country's north, saying it simply wont work. The Abbott government is reportedly considering a so-called "open skies" plan to open routes in northern Australia to foreign carriers in order to increase competition, bring down prices and stimulate local economies.

  • MARKET CLOSE: NZ shares rise led by F&P, Nuplex BusinessDesk - Fri, May 29, 2015 5:43 PM NZST

    New Zealand shares rose, led by Fisher & Paykel Healthcare after its annual results beat forecasts. Nuplex Industries extended recent gains. F&P Healthcare advanced 4.8 percent to $6.60 after the medical device maker reported annual profit rose 17 percent to $113.2 million, beating earlier forecasts, and said earnings would rise further in the coming year to between $125 million to $130 million.

  • NZ dollar heads for 2.4% weekly drop as Fed eyes rate … BusinessDesk - Fri, May 29, 2015 5:37 PM NZST

    The New Zealand dollar is heading for a 2.4 percent weekly drop against the greenback as comments by Federal Reserve officials revive expectations the world's biggest central bank will hike interest rates this year, while investors grow wary about the local outlook. The kiwi sank to 71.32 US cents at 5pm in Wellington from 73.11 cents on Friday in New York last week. A BusinessDesk survey of 13 currency advisers predicted the kiwi would trade between 70.60 US cents and 75 cents this week, with 11 expecting it to fall and two betting it would gain.

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