29 Apr 2019

Today's business news: What you need to know

2:18 pm on 29 April 2019

Latest - Rubber goods manufacturer Skellerup has bought a maker of high-performance foam and soft material components.

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Photo: Supplied

It's buying the Auckland-based Nexus Foams for about $6.5 million.

Skellerup chief executive David Mair said Nexus was a natural fit, which would complement its own range of foam goods with well established products and customers.

He said the Nexus acquisition would immediately add to Skellerup earnings.

New appointment at Meridian Energy

Meridian Energy has appointed a new chief financial officer and it's one of the company's own.

Mike Roan, currently General Manager of Wholesale Markets, will take on the role starting immediately.

Labour market figures crucial to next interest rate step

The state of the labour market will be disclosed this Wednesday and is expected to be a mixed bag.

Unemployment rose at the end of last year and some economists are forecasting the first quarter will see another small increase, while others are picking it'll remain stable, or drop back slightly.

ASB senior economist Mark Smith is among those expecting unemployment to fall as well as reasonable employment growth.

But if the figures come in weaker than expected, Mr Smith said that would bump up the chances of an interest rate cut next week.

Read here for more on this story.

Whitaker's NZ's most trusted brand

Whittaker's has taken the Reader's Digest title for the eighth year in a row.

Coming in second was St John's New Zealand, followed by Tip Top, Canon, and Westpac Rescue Helicopter rounding out the top five.

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