17 Jul 2019

Today's business news: What you need to know

5:22 pm on 17 July 2019
Commerce Commission

Photo: RNZ / Alexander Robertson

Latest - The Commerce Commission has laid 13 charges against subsidiaries of the telecommunications company Vocus.

The watchdog is accusing Slingshot, Flip and Orcon of issuing invoices to customers that included charges after their contracts were due to be terminated over a six year period.

The commission says that misled customers about the money they actually owed for the services they were provided.

Vocus chief executive Mark Callander said what happened is unfortunate, but its apologised to the small percentage of customers affected and has offered them refunds.

The case will be heard in the Auckland District Court later this month.

Industry supplier volumes down for Z Energy

The fuel retailer and supplier says industry volumes fell in the second quarter as a result of Gull's decision to source its supply from its Australian parent company.

However, Z says it's been able to increase its market share, against the industry drop of 4 percent over the year earlier - down nearly 12 percent over the first quarter of the year.

It says Z's retail petrol volumes were little changed over the quarter, while Caltex retail volumes fell, ahead of its exit from the AA's Smartfuel loyalty programme.

The company has maintained its full year profit guidance for 2020, and will update the market again when it releases its first half result at the end of October.

Fibre makes up half of Chorus's broadband business

The telecommunications lines company says it has completed 50,000 fibre connections in the three months ended in June, while fixed line connections continued to drop.

It says the disconnection of voice-only services has increased as more customer switch to wireless services.

Auckland Airport passenger numbers up

Auckland Airport says total passenger numbers grew 1.7 percent in May over the year earlier.

International passengers rose 0.9 percent while domestic numbers rose 3.3 percent, reflecting increased capacity between Auckland and Queenstown.

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