30 Oct 2014

Business Briefs

1:34 pm on 30 October 2014

Auckland Airport examines Commerce Commission decision

Auckland International Airport said it was examining the Commerce Commission's decision on how much profits electricity and gas lines companies can earn.

While the decision did not apply to airports, the commission would be starting a similar assessment of how much airports should be allowed to earn later this year.

Airport chief executive Adrian Littlewood said his company would continue to work with the commission during the review.

Number of NZ businesses up

The number of businesses in New Zealand rose to a record of nearly half a million in February this year, up 2.5 percent on a year earlier.

The Government statistician said the highest rate of growth in businesses was in the construction sector.

Statistics New Zealand said this equated to one business for every nine people in New Zealand.

The number of high-growth enterprises in New Zealand exceeded 1000 for the first time since 2008, with 15 percent of the current high-growth enterprises being in the construction industry.

FMA outlines future approach

The Financial Markets Authority today outlined the future approach of the regulator.

From 1 December the the FMA's mandate expanded under the Financial Markets Conduct Act.

Chief executive Rob Everett said several hundred businesses and professionals are expected to apply for new licences from December.

He told the Institute of Financial Professionals annual meeting in Auckland today, that the FMA would be setting high expectations of conduct.

The FMA would continue to intervene to prevent poor quality outcomes for consumers and investors.