Air NZ's new fuel efficient fleet may mean cheaper flights

Air New Zealand has announced a new fuel-efficient engine to power its new aircraft fleet, which could mean cheaper airfares.

  • CWC boosts NZ travel figures by 87,000 Newstalk ZB - 20 hours ago

    The Cricket World Cup boosted international passenger numbers last month.

  • NZD loses furth ground against the Aussie Newstalk ZB - 20 hours ago

    The New Zealand dollar has lost further ground against the Aussie.

  • Another WA uranium mine plan approved AAP - 20 hours ago

    Canadian uranium producer Cameco has secured federal environmental approval for its Kintyre project in remote Western Australia. It comes a month after WA Environment Minister Albert Jacob granted the company conditional approval to develop the remote east Pilbara project, 260km northeast of Newman. Cameco, which produces 16 per cent of global uranium output, bought the Kintyre deposit in 2008 with joint venture partner Mitsubishi. It also has the Yeelirrie deposit, WA's biggest uranium project, which it bought from BHP Billiton for $430 million in 2012.

  • $A rises above 78 US cents AAP - 20 hours ago

    The Australian dollar has risen above 78 US cents as weak US data dented the greenback, while the New Zealand currency slipped. The domestic currency was worth 78.10 cents by 1700 AEST, up from 77.28 cents on Thursday, reaching a four day high late in the local session. "That did take a bit of a bite out of the US dollar generally," National Australia Bank global co-head of FX strategy Ray Attrill said. The Australian dollar also benefited from further weakness in the New Zealand currency, sparked by Reserve Bank of New Zealand deputy governor John McDermott's hint on Thursday that an interest rate cut may be needed.

  • Suspension of NSW CSG licence overturned AAP - 20 hours ago
    Suspension of NSW CSG licence overturned

    Coal seam gas explorer Metgasco will seek compensation from the NSW government after winning its legal battle over the suspension of its drilling licence. The company said its successful challenge of the suspension proved a landmark decision for the NSW resources industry. Metgasco's licence to drill the Rosella well near Lismore in northern NSW was suspended by Resources and Energy Minister Anthony Roberts in May 2014, on the grounds the company hadn't properly consulted the community about its exploration. Notice of the suspension "came as a bolt from the blue to Metgasco", Justice Richard Button ruled, and procedural fairness was not implemented.

  • Bonds weaken on rate cut expectations AAP - 20 hours ago

    The bond market has weakened as expectations of a May interest rate cut continue to be eroded. A May rate cut is now seen as a 50-50 chance, which contributed to a sell-off in Australian bonds on Friday ...

  • $A firms to finish above 78 US cents AAP - 21 hours ago

    The Australian dollar has risen above 78 US cents as weak US data dents the greenback and the New Zealand currency slips. The domestic currency was worth 78.10 cents by 1700 AEST, up from 77.28 cents on ...

  • Aust shares higher on iron ore rally AAP - 21 hours ago

    The Australian sharemarket ended the week strongly, with gains on the back of a rally in iron ore prices from decade lows. A 1.5 per cent gain on the ASX200 on Friday meant it ended the week 0.9 per cent ...

  • Xero shares punished as loss doubles AAP - 21 hours ago

    Shares in cloud-based accounting software business Xero have dropped 10 per cent after the company's full year loss almost doubled. Xero, which provides accounting software for small businesses, made a full year loss of $NZ69.5 million ($A67.9 million) in the year to March 31, up from a $NZ35.5 million loss a year ago, despite lifting operating revenue from $NZ70 million to $NZ123 million. The New Zealand based company, dubbed "the Apple of accounting" by Credit Suisse, has been a market darling in recent years, with its market value stretching beyond $A3 billion despite never posting a profit.

  • Stocks to watch at close on Friday AAP - 21 hours ago

    Stocks to watch on the Australian stock exchange at close on Friday: APO - APN OUTDOOR - steady at $3.24 Billboard owner APN Outdoor has reaffirmed its prospectus forecasts of eight per cent growth in ...

  • Aust shares close higher AAP - 21 hours ago

    The Australian share market has closed higher, with gains across all sectors. At the close on Friday, the benchmark S&P/ASX200 index was 88.5 points, or 1.51 per cent, higher at 5,933.3, while the broader ...

  • BHP breaks ranks on iron ore AAP - 22 hours ago

    A significant split occurred between Australia's iron ore giants this week when BHP Billiton said publicly that it was slowing down its expansion. It was only two sentences in a quarterly report, but was a major break from BHP and Rio Tinto's controversial narrative of unrelenting growth no matter the effect on prices - as long as you are making money. Highlighting how far iron ore prices have fallen, the estimated $US500 million project was a cheaper replacement adopted in 2012 instead of an abandoned new outer harbour that would have cost up to $US20 billion. Rio, the world's second largest iron ore miner, in contrast defied its critics on Tuesday by keeping its forecasts unchanged for a 17 per cent increase in annual shipments to nearly 350 million tonnes.

  • MARKET CLOSE: NZ shares rise; Spark, Meridian gain; … BusinessDesk - 22 hours ago

    New Zealand shares rose, paced by Spark New Zealand and Meridian Energy, as investors sought dividend paying stocks. Xero dropped after it reported its full year loss nearly doubled. Yesterday, the Reserve Bank of New Zealand's assistant governor John McDermott said it isn't considering an increase in interest rates at present and is watching for any signs of weakening demand and domestic inflationary pressures that could warrant a rate cut. Meridian Energy, the partially privatised company, rose 1.1 percent to $1.90.

  • NZ dollar heads for 1.7% weekly decline after RBNZ … BusinessDesk - 22 hours ago

    The New Zealand dollar is heading for a 1.7 percent decline this week after Reserve Bank assistant governor John McDermott ruled out interest rate hikes ahead of the central bank's official cash rate review next week. At the start of the week, five currency advisers in a BusinessDesk survey said the kiwi could fall, five said it could gain and three said it would likely remain largely unchanged. The trade-weighted index, the broader measure of the currency preferred by the Reserve Bank, is headed for a 1.7 percent weekly decline after touching a nine-month high of 80.53 during the week. The New Zealand dollar oscillated during the week, hitting a record against the euro and stoking speculation of parity with the Aussie before taking a dive yesterday after McDermott told a business lunch in Hamilton that the Reserve Bank isn't considering an increase in interest rates at present and is watching for any signs of weakening demand and domestic inflationary pressures that could warrant a rate cut.

  • Low-lying dams drown hundreds AAP - Fri, Apr 24, 2015 4:01 PM NZST

    "The builders of these dams have created a very elegant trap for human beings," said Nate Hoogeveen, who heads river programs for the Iowa Department of Natural Resources. Since the 1950s, at least 441 people have died at 235 low-head dams in 38 states, according to researchers at Brigham Young University. More than one-third of the deaths have occurred in Iowa, Minnesota and Pennsylvania.

New Zealand Markets

Company Finances