25 Jun 2019

Today's business news: What you need to know

6:14 pm on 25 June 2019

Latest - The country has posted its third consecutive monthly trade surplus leading to a slight narrowing of the annual deficit.

Official numbers show a surplus of $264 million for May, bolstered by dairy exports.

That has resulted in the annual deficit shrinking by about $60 million to just under $5.5 billion.

Sky eyeing more streaming services

Sky Television's new chief executive has ditched plans to introduce a new set-top box.

Sky was developing what's called a puck device which would have allowed its customers to watch its streaming services like Neon and FanPass on TV through the internet.

However, at a market announcement this morning, Martin Stewart said he had canned that plan, in favour of developing more streaming services, including a sports app.

Mr Stewart said customers were well served with Sky's current satellite set-top box, and streaming and content was what they wanted more of these days.

Commerce Commission still going after Viagogo

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The Commerce Commission wants to appeal its High Court ruling. Photo: 123rf.com

The Commerce Commission is sticking with its appeal against ticket reseller Viagogo, despite the Swiss company reportedly suggesting it wants to reach a settlement.

The commission took Viagogo to the High Court in Auckland seeking an order to stop it from advertising tickets as limited when they're not because it breaches the Fair Trading Act.

However, the case was dismissed because the website doesn't operate in New Zealand.

The commission is still waiting for a hearing date to be set for its original case against Viagogo that it filed last year, but the company's managing director told Stuff it would rather reach a settlement.

The commission is yet to say if it would be open to that.

New platform lays out KiwiSaver investment sins

Ethical investment organisation Mindful Money has launched a platform which tells KiwiSaver members what their money is invested in.

The service, which is up and running today, allows users to enter their KiwiSaver fund's name to see what proportion of their funds are invested in companies and areas like fossil fuels, weapons, gambling, alcohol, palm oil, and human and animal rights.

Mindful Money's founder Barry Coates said the areas of concern were identified in a survey conducted by his organisation and the Responsible Investment Association of Australasia last year.

Mr Coates said the platform also allowed investors to switch to a more responsible fund should they wish to.

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