2 Dec 2019

Today's business news: What you need to know

2:49 pm on 2 December 2019

The country's trade position has improved again, driven by record prices for meat and a strong rise in dairy prices.

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Photo: 123RF

The terms of trade increased 1.9 percent in the September quarter, as export prices grew faster than import costs.

The official data measures how much imports can be bought with a fixed amount of export earnings, which was considered as a sign of economic health.

Strong export prices underpinned New Zealand's economic resilience in the wake of a global slowdown.

"The overall terms of trade remained at high levels, close to peaks seen in late 2017, when export prices for dairy and meat were also high," Statistics New Zealand business price manager Bryan Downes said.

Higher prices earned on primary industry products, offset a large fall in forestry earnings, taking overall export prices 1.9 percent higher in the quarter to their best level in 10 years.

Overall import costs were flat.

Sky Television considers selling outdoor business

Sky Network Television has told shareholders it's considering a sale of its outdoor production business.

The broadcaster says it's tossing up whether or not to invest more in outside broadcasting, or sell it on.

It's invited United States-owned production company NEP Broadcast Services to look at the business's assets.

Sky says the production business and its crew will remain an important part of its sport content delivery, even it decides to sell.

Serko questioned over share price jump

The travel software company has been issued a please explain letter by NZX regulation, following a big jump in its share price.

The market watchdog is questioning whether or not Serko has disclosed all material information to the market.

Serko's share price rose almost 18 percent last week, from $4.44 on Monday to $5.23 at the market close on Friday.

Serko has responded to the regulator saying it's satisfied that it's been compliant with continuous disclosure obligations.

Evolve buys more childcare centres

The early childhood education provider has completed the purchase of another five centres in Queensland and Victoria, as part of its Australia expansion.

The company has paid more than $AU7.5 million upfront, plus a performance-based payment of $1.5m for the centres, which it hopes will turn around its business.

Evolve has recently reported a half year loss of $1.4 million, which compares with last year's $27.5m loss, which included a large level of writedowns.