SCOOP.CO.NZ archive pages provide PLAIN FULL TEXT search access to the Scoop archives divided into CATEGORIES. The database indexes approximately 4 months of Scoop items and is updated each night. You can search Scoop's complete 8 years of data at Knowledge Basket.
42 percent of New Zealand organisations reported fraud Sharp rise in economic crime by middle management Reduction in staff morale a notable impact of fraud More >>
Nov 20 (BusinessWire) - What an irony it would be if, after nine years of a government pushing uneconomic investment in wind power, it was followed by an equally uncommercial push by the current government to establish a bigger oil and gas industry in New ... More >>
The country’s leading retailing district is supporting the Auckland Chamber of Commerce’s call today for Parliament to fix the annual Easter trading circus once and for all. Reignited calls from Auckland’s Chamber of Commerce and the Newmarket ... More >>
Auckland Chamber of Commerce head Michael Barnett today called on all Parties in Parliament to put aside political differences and unite to pass legislation to allow any shop across New Zealand wanting to trade over Easter to do so. “It is crazy ... More >>
The North Harbour Business Association (NHBA) welcomes the announcement yesterday by Tariana Turia that its General Manager, Gary Holmes, has been named as one of 13 recipients of the Winston Churchill Memorial Trust Fellowships for 2010. Mr. Holmes ... More >>
Last week we looked at how some sectors of the economy are still shrinking and why one could therefore not describe the upturn as robust. This week we look at factors which have the capacity to boost our economy by near 2.5% next year and 3.5% over ... More >>
The National Distribution Union (NDU) is welcoming the Labour Party’s break with bipartisan consensus around current monetary policy, and is challenging Business New Zealand to say which interests it is representing by opposing the move. “The ... More >>
Nov. 20 (BusinessWire) – Stocks dropped on Wall Street and in Europe after Bank of America downgraded computer chipmakers and a rising U.S. dollar weighed on commodity prices. More >>
It's good to finally see a politician stand up and say we have got it wrong with our monetary policy and it's time to fix it, says Selwyn Pellett the spokesperson for the Productive Economy Council. But Labour's shift in position is only the first ... More >>
ACT New Zealand Finance Spokesman Sir Roger Douglas today released his discussion document 'Catching Australia By 2025: An Alternative Approach' which outlines a comprehensive reform of Government expenditure, accelerating our economic growth and creating opportunities ... More >>
The University, in partnership with the tertiary education sector unions, is to undertake a pay and employment equity review to determine the extent to which gender affects women's pay and employment experiences, and to find ways to remove barriers and achieve ... More >>
New Zealand Wool Services International Ltd reports that prices at today’s wool sales rose across the board, despite a stronger New Zealand currency. Measured against a weighted indicator of the main international wool trading currencies, the New Zealand ... More >>
The Labour Party’s decision to renege on its commitment to the multi-party consensus on the Reserve Bank Act raises serious concerns says Business NZ. More >>
It's a great pleasure to be here today to talk to you all. While I know emissions trading is not farmers’ favourite subject, today has to be an improvement on talking to several thousand angry bikies. Can I acknowledge your President, Don Nicolson, ... More >>
The wide range of scientific excellence recognised by the Royal Society’s annual Science Honours awards demonstrates the outstanding contribution scientists are making and can continue to make to New Zealand, says Labour Research, Science and Technology ... More >>
The New Zealand Manufacturers and Exporters Association (NZMEA) is supporting calls from the Labour party for changes to monetary policy. Labour leader Phil Goff called for such a move in a speech to Federated Farmers this morning. Goff declared that, ... More >>
Gross domestic product (GDP) in current prices increased 2.0 percent for the year ended March 2009, Statistics New Zealand said today. This increase is the lowest since the year ended March 1999 and follows a 7.7 percent increase in the March 2008 ... More >>
“On a first examination, the Regulatory Responsibility Taskforce appears to have produced an outstanding and robust report that deserves the support of the government and parliament”, the executive director of the New Zealand Business Roundtable, ... More >>
The New Zealand Business Roundtable has updated the data in the attached file of key statistics complied for economic journalists and others interested in the New Zealand economy. The file was first released on 31 October 2008. The data are primarily ... More >>
Nov. 19 (BusinessWire) – Shares on Wall Street weakened after figures showed housing starts unexpectedly fell and consumer prices rose. The Nasdaq Composite declined after Autodesk Inc., an engineering software company, said it faces “challenging” ... More >>
Nov. 18 (BusinessWire) – Surging investor confidence and reasonable share prices are letting private equity investors make some decent returns as a growing number of companies are put out to the public. More >>
The Tauranga District Plan Review has the potential to affect all owners of residential, commercial and industrial property in Tauranga. The Bay of Plenty Property Council will be submitting to the District Plan on behalf of its members. President, Aaron ... More >>
Ngāi Tahu Property’s residential subdivision at Waikakariki, on Horseshoe Lake Road in Shirley, is bucking national property trends having sold 20 of the 22 lots available. More >>
Normally at this time of year, The Wellington City Mission has over 400 Christmas wrapped boxes delivered into corporate workplaces and government organisations in the Wellington region, ready to be filled with Christmas gifts. This year, only two ... More >>
The GFC hasn’t yet dampened salary growth in New Zealand but generous salary increases will soon be harder to come by with pay budgets expected to shrink in the next 12 months, according to a Mercer remuneration survey. More >>
Quality home builder David Reid Homes is experiencing a strong revival in interest from potential new home owners. Contracts for new homes have doubled in the September quarter compared to the previous three months while the number of enquiries for new ... More >>
IRL Research Engineer Paul Harris was last night awarded the RJ Scott medal for his significant contributions to the development and application of electronic devices in New Zealand. Bestowed by the Royal Society of New Zealand, the medal is awarded ... More >>
The Wellington Regional Chamber of Commerce has welcomed the New Zealand Commerce and Industry Office (NZCIO) announcement that New Zealand will waive visas for short term visitors from Taiwan. From 30 November 2009, Taiwanese passport holders travelling ... More >>
As the world economy begins to register a tentative recovery and some nations continue to wrestle with ongoing conflict and insecurity, it is clear that no region of the world is immune to the perils of corruption, according to Transparency International’s ... More >>
The New Zealand housing market looked much brighter last month, following on from the momentum gained in the previous two months, according to the latest Mike Pero Mortgages-Infometrics Property Cycle Indicator. “The growth in house sales has ... More >>
Queenstown continues to remain firmly on the map for the Australian backpacker and adventure traveller with several thousand seeking advice before visiting here. Destination Queenstown along with AJ Hackett Bungy and NZONE represented the resort at this year’s ... More >>
Legislation providing legal backing for settlement systems – a key part of the infrastructure underpinning New Zealand's financial markets – was passed by Parliament last night. Settlement systems are used to transfer the ownership of an asset, such ... More >>
Revelations that Climate Change Minister Nick Smith’s proposed changes to the Emissions Trading Scheme are going to cost taxpayers an extra $105 billion is something really worth swearing about, Dr Russel Norman, Green Party Co-Leader said today. More >>
Nov. 18 (BusinessWire) – Federal Reserve Chairman Ben Bernanke said the U.S. economy still faces “significant economic challenges” as data showed industrial production is barely growing and wholesale inflation is tame. More >>
Nov. 17 (BusinessWire) – Hanover Finance, which convinced its investors to agree to a moratorium on repayments last year, has confirmed they’ll now get 70% of their money back at best. More >>
Child Poverty Action Group (CPAG) says the ReStart package has been a puny response to the effects of the recession. Whatever the intention of the package, it has not protected children. More >>
Nov. 17 (BusinessWire) – Stocks rose on Wall Street, extending a global rally, and commodities advanced as figures showed stronger-than-expected U.S. retail sales and after APEC nations pledged to maintain stimulus measures. More >>
The Government claims that the recession is over and so now its time to start getting tough on sole parents receiving the domestic purposes benefit and on invalids beneficiaries and sickness beneficiaries. More >>
Parliament needs to pass amendments to the existing Emissions Trading Scheme prior to Christmas to make it workable and affordable, Minister for Climate Change Issues Nick Smith says. “It is no surprise the Finance and Expenditure Committee was equally ... More >>
Nov. 16 (BusinessWire) – The New Zealand dollar may hold its gains and could push higher if data in the U.S. continues to erode optimism about the pace of recovery in the world’s largest economy. More >>
Nov. 16 (BusinessWire) – New Zealand’s services sector contracted in October for the first time in four months, underlining the tepid pace of economic recovery that’s convinced the central bank to keep its key interest rate at a record low. More >>
In Australia last week, the October labour force survey showed another spike in employment, the outcome again running contrary to market expectations for a fall. The huge wave of natural resource projects getting underway means labour market conditions will ... More >>
* Producer prices fell sharply in 3Q * Falling dairy prices largely to blame * RBNZ to hold off policy tightening until mid-2010 Producer prices in New Zealand fell sharply in the third quarter, owing to falling dairy prices. Input prices tanked ... More >>
Extreme and misleading statements are causing unnecessary confusion and fear around emissions trading, says Business NZ. Business NZ today released The Subsidy Myth, an analysis of recent claims that farms and businesses will get a subsidy from households ... More >>
We, the Leaders of APEC, gathered in Singapore and marked twenty years of cooperation in promoting economic growth and prosperity for our people. In line with new trends and emerging challenges, our agenda has grown in breadth, depth, and complexity. ... More >>
Nov. 16 (BusinessWire) – Leaders of the 21-member Asia-Pacific Economic Cooperation group pledged to maintain stimulus measures until the global economy returns to sustained growth as they concluded the summit in Singapore. More >>
New Zealanders are still optimistic about the state of the housing market, according to an ASB survey. More >>
The Fonterra payout announcement was great news for farmers, but whether or not it will have a flow on effect in rural real estate sales and land values depends on banks’ lending policies, says REINZ President Peter McDonald commenting on rural ... More >>
Nov. 16 (BusinessWire) – New Zealand producer input prices unexpectedly fell in the third quarter, led by a slump in farm-gate milk prices and electricity. More >>
Food prices came under scrutiny this week after a New South Wales Associate Professor, having analysed figures from the Organisation for Economic Co-Operation and Development (OECD), said that grocery prices in Australia and New Zealand had risen 41 percent ... More >>
Auckland can never be the growth engine people expect – or that the country requires – as long as its export economy remains as one of the lowest in New Zealand, a senior economist warns. More >>
Nov 13 (BusinessWire) - As a cub reporter on the Manukau Courier back in 1983, it was my duty to report the monthly deliberations of the Papatoetoe City Council. More >>
Auckland can never be the growth engine people expect or that the country requires as long as its export economy remains as one of the lowest in New Zealand, a senior economist warns. BERL Chief Economist Dr Ganesh Nana says Auckland can't be a service ... More >>
Within this article - The Comprehensive State of the U.S. Housing Market: Learning to Love the Housing Data and Forgetting the Economic Facts. Everything you wanted to know about U.S. Housing Trends. » Dr. Housing Bubble Blog – Dr Housing Bubble ... More >>
A group of New Zealand websites has decided to get together and encourage discussion of the positive side to climate change mitigation. Afterall - how many of us really believe that the way the world is currently run is optimal - both for our personal ... More >>
New Zealand's most popular loyalty programme, Fly Buys, is proving its worth for businesses in tough economic times, having this week surpassed 5 million reward redemptions. With more than 1.1 million New Zealand households as active Fly Buys Members, the ... More >>
The closure of Irwin Industrial Tools due to the fluctuating New Zealand dollar shows the desperate need for a major overhaul of New Zealand’s financial system, says the Engineering, Printing and Manufacturing Union. The union, which represents workers ... More >>
Nov. 13 (BusinessWire) – New Zealand house prices hit a 10-year high for the month of October amid a decline in the volume of sales as fewer properties are put on the market. More >>
This week we look through the data releases of the past couple of months and conclude that although the economy is growing, the upturn is still relatively weak with some important sectors – exports and business investment – showing no upturns outside ... More >>
Nov. 13 (BusinessWire) – Stocks fell on Wall Street, paced by oil companies such as Exxon Mobil after Energy Department figures showed rising stockpiles, driving down the price of crude oil. More >>
Nov. 12 (BusinessWire) – New Zealand manufacturing continued its expansion for a second month, albeit at a more moderate clip as the measure of employment fell back into contraction. More >>
Top end restaurants will have to adapt or possibly close their doors if retail figures released today continue at present levels. In the September quarter, sales for cafes and restaurants were down 2.6 per cent or $26 million. Eugene Sparrow, Director Business ... More >>
Synlait Milk Limited (Synlait Milk) is pleased to announce that it intends to proceed with the launch of an initial public offering of ordinary shares (the Offer) and seek a sharemarket listing on the NZSX. Synlait Milk is currently a wholly owned ... More >>
As consumers recover from the global recession, work/life balance is now a bigger concern than the economy More >>
Nov. 12 (BusinessWire) - Comvita Ltd., the healthcare products manufacturer, continued to see strong growth in its home and all export markets, bar the U.K., to produce a $1.6 million net profit for the six months to September 30. More >>
ANZ has helped boost the profile of New Zealand companies in Asia by leading a road show of top corporates and economic experts to Singapore and Hong Kong, said ANZ’s CEO Jenny Fagg. More >>
It’s the second week of the month. That means I am headed over to see Franklin Sanders of The Moneychanger at Top of the World Farm in Westpoint, Tennessee. I will be working out of The Moneychanger offices on Wednesday and Thursday. After our usual ... More >>
I am very pleased to be with you today at the opening of your second annual conference. I am aware of how very important your profession is to the smooth operation of the tax system and, by extension, to New Zealand’s economy, and I want to acknowledge ... More >>
Retail sales ticked up 0.2%m/m in September • Ex-auto sales were weaker • Volumes flat over the quarter, but no change to 3Q GDP forecast More >>
Serious disagreements have arisen about the true costs of the Government’s Emissions Trading Scheme proposals and the Minister needs to explain himself, the Green Party said today. More >>
Proposed changes to the emissions trading scheme (ETS) would result in 84% or more of the nation’s multi-billion dollar Kyoto liability being put on to future taxpayers. Today’s polluters will pay nothing like today’s emissions bill. After all the ... More >>
Rakon Limited (NZX: RAK) has reported revenue of NZ$72.2 million for the first half of the 2010 financial year. This is up 20% on the second half of last financial year, but down 9% on the same period last year. Profit was up slightly from guidance given ... More >>
Nov. 12 (BusinessWire) – Stocks on Wall Street edged higher after figures showed China’s industrial production surged and Japanese machinery orders climbed, while speculation grew that the Federal Reserve will keep borrowing costs low. More >>
Nov. 12 (BusinessWire) – New Zealand’s consumers are still subdued going into the annual Christmas spending splurge, according to government data. More >>
NZ and Singaporean sign angel investing alliance New Zealand and Singapore angel investors have signed a land-mark partnership between the Angel Association of New Zealand and the Business Angel Network (South East Asia) which will assist both countries ... More >>
The Group (Singapore Airlines its subsidiary, joint venture and associated companies) recorded a net loss attributable to equity holders of SG$159 million (NZ$146.73 million) for the second quarter of the financial year. This was an improvement of $148 million ... More >>
Bank workers’ union Finsec says a parliamentary banking inquiry by Labour, the Progressives and the Greens has shown the government needs to act to protect consumers. The inquiry confirmed that major banks had not passed on the full benefit of OCR ... More >>
Today’s Reserve Bank Financial Stability Report reinforces findings in the Parliamentary Banking Inquiry, particularly relating to margins charged by banks and to the need for more policy work in terms of banking, monetary and taxation policies, says Labour ... More >>
Nov. 11 (BusinessWire) - Trading bank margins are stable or falling, with fierce competition for term desposits, reduced margins on mortgage lending and the impact of bad debts on overall performance, according to studies from the Reserve Bank of ... More >>
by Pattrick Smellie Nov 11 (BusinessWire) - You've heard of the "W-shaped" economic recovery, where the bounceback from the depths of recession is followed by another downwards dip before growth takes off again. More >>
The RBNZ today delivered its six-monthly Financial Stability Review. The Review highlighted that global economic and financial market conditions have improved, but remain fragile, and that New Zealand’s economy had “turned a corner.” Strong NZD continues ... More >>
The Salvation Army’s latest quarterly figures show a continuing deterioration in the living standards of low-income and heavily indebted families. More >>
Nov. 11 (BusinessWire) – Rising tourist numbers underpinned gains in New Zealand accommodation last month as the number of guest nights increased for all operators. More >>
Nov. 11 (BusinessWire) – The Labour, Progressive and Green parties claim banks propped up their profit margins by not passing on cuts to the official cash rate earlier this year and raised questions about the effectiveness of monetary policy. More >>
International guest nights in short-term commercial accommodation were up 8 percent in September 2009 compared with September 2008, Statistics New Zealand said today. With domestic guest nights slightly higher than in the previous September, total ... More >>
Food prices decreased 1.5 percent in the October 2009 month, Statistics New Zealand said today. This is the largest fall in three-and-a-half years. The food price index also fell in September and August, by 0.7 and 0.9 percent, respectively. More >>
New Zealand’s banking and finance sector is coming through the global financial and economic crisis in relatively good shape, Finance Minister Bill English says. More >>
The outlook for the New Zealand economy and financial system has improved in the past six months as international conditions have stabilised, but some risks and challenges remain, Reserve Bank Governor Alan Bollard said today when releasing the Bank's November ... More >>
Retail sales are expected to improve in November and December, but retailers need to lift their training of floor staff to provide effective customer servicing, according to KPMG. More >>
The National Government can no longer be complacent about the state of play within our banking and financial sectors given their central importance to our economic prosperity, said Green Party Co-leader Russel Norman today. More >>
The multi-party Parliamentary Banking Inquiry has confirmed that banks did not pass on the full effect of reductions in the Official Cash Rate to hard-working Kiwis struggling to make ends meet, says Labour Finance spokesperson David Cunliffe. More >>
Australians have twice as many ATMs per head of population compared to New Zealand, and the gap is growing because of the lack of competition in the ATM market, says Managing Director of ATM Plus Limited, David Dickinson. More >>
We must put party politics aside and come up with a new approach to monetary policy which supports people in New Zealand who produce tradeable goods, rather than those who speculate on property and take the profits off-shore, says MP for Wigram and ... More >>
Nov. 11 (BusinesWire) – Reserve Bank Governor Alan Bollard said New Zealand’s dollar is unsustainably high and the nation risks a return to a debt-fuelled housing cycle as home buyers enjoy looser lending conditions. More >>
Nov. 11 (BusinessWire) – Shares on Wall Street pared their gains from a six-day advance after MBIA Inc., the world’s biggest bond insurer, posted a loss on credit derivatives, sending its stock down by more than a fifth. More >>
Nov. 10 (BusinessWire) – New Zealanders spent less on their credit and debit cards in October, the first decline in four months, suggesting a high jobless rate and a focus on reducing household debt are keeping a lid on spending. More >>
“One of New Zealand's biggest vegetable processors, Cedenco failed under the weight of high debts and problems with its shareholding and "governance", with unspecified problems relating to its ultimate owners in the United States. The US-based Sayler ... More >>
Twenty-two percent of 215 job positions surveyed are being paid less this year than last year, and a further nine per cent of jobs have had no pay rises this year, according to the annual National Employers Wage and Salary survey. But employers said the average ... More >>
Labour Leader Phil Goff has welcomed work beginning on the first cycleway project but questions why Prime Minister John Key is no longer proud of how many jobs the cycle routes will create. “In February John Key trumpeted that 3700 jobs would ... More >>
The following Discussion Paper has been released on the Reserve Bank's website. The discussion papers are available at http://www.rbnz.govt.nz/research/discusspapers/ Abstract Financial turbulence over the past two years has generated increased interest ... More >>
Alliance Party finance spokesperson Professor Jim Flynn says the government has to think outside the square to prevent ordinary New Zealanders losing their houses during the economic crisis because they can't afford their mortgage payments. More >>
Nov. 10 (BusinessWire) – Stocks rallied on Wall Street and in Europe, while the U.S. dollar weakened after Group of 20 finance ministers and central bankers agreed to maintain economic stimulus measures until they’re certain the recovery is underway. More >>
TVNZ 7’s lively political show is marking Spotlight On The Economy with a special which will lay bare the economic aims from the government representatives themselves. More >>
An increase in the number of completions of qualifications and programmes by people signed up to training agreements with Industry Training Organisations (ITOs) in 2008 is a good sign for the New Zealand workforce. Figures just released by the Tertiary ... More >>
Nov. 9 (BusinessWire) – New Zealand property values climbed above where they were at the same time 2008 for the first time this year as an ongoing shortage of listed properties continued to make it a seller’s market. More >>
Nov. 9 (BusinessWire) – The New Zealand dollar surged 1.3% after Fonterra Cooperative Group, the world’s largest exporter of dairy products, bumped up its forecast pay-out to farmers by 19%, stoking investors’ appetite for higher-yielding, or riskier, ... More >>
Nov. 9 (BusinessWire) – Fonterra Cooperative Group, the world’s largest exporter of dairy products, has boosted its forecast pay-out to farmers by 19% as a recovery in commodity prices improves the outlook for the industry, helping underpin growth ... More >>
This week another compelling argument was raised against the need for an Emissions Trading Scheme (ETS), this time in a New Zealand Institute of Economic Research Inc (NZIER) report titled 'Sustainable Development: Have We Got Our Priorities Right?' ... More >>
PANEL DISCUSSIONS led by PAUL HOLMES PAUL We saw John Key at the very top of the programme saying we voted for change. Did they do you think? MIKE WILLIAMS – Former Labour Party President No they didn’t and I think this is part of John Key's talent ... More >>
JOHN KEY interviewed by GUYON ESPINER GUYON Thank you Prime Minister for joining us on the show, we appreciate our time this morning. Let's start there with the economy and let's take you back to something that you said on our very first show in March. ... More >>
Nov. 9 (BusinessWire) – British Prime Minister Gordon Brown proposed a global financial transactions tax as a way of extracting an insurance levy from banks. More >>
The RBA delivered on market expectations for a 25bp rate hike last week. The more balanced tone of the commentary reinforced our view that the RBA will remove the “emergency” component of policy accommodation gradually. Indeed, last week’s ... More >>
Nov 6 (BusinessWire) - When everyone from Rodney Hide to the Listener start asking "where's the plan, John?" is there something for Prime Minister John Key to worry about? More >>
The high unemployment rate has uncovered a silver lining for certified business and life coach Gabriele Wehler. More >>
Today’s household labour force survey showing youth unemployment at record highs demonstrates this government is not doing enough to provide jobs for young Kiwis, Labour’s youth Affairs Spokesperson Jacinda Ardern says. There are now 62,700 young ... More >>
The rise in unemployment announced today shows the urgent need for guaranteed redundancy protections, says Labour’s associate labour spokesperson Darien Fenton. More >>
RBNZ Governor Alan Bollard today addressed the Trans-Tasman Business Circle, discussing the similarities and differences between the New Zealand and Australian economies. The speech offered little new information for market pundits to chew on, but appeared ... More >>
• Record turnaround in sentiment as investor confidence hits a two year high • KiwiSaver investors are increasingly positive about their investment • Mixed views about the best investment opportunity in the coming 12 months More >>
Nov. 6 (BusinessWire) – Shares on Wall Street rallied after Cisco Systems posted earnings that beat estimates and jobless claims fell, stoking optimism the world’s biggest economy is recovering. More >>
The latest New Zealand Manufacturers and Exporters Association (NZMEA) survey of Manufacturers and Exporters completed during October 2009, shows total sales in September 2009 decreased 9% (export sales decreased by 35% with domestic sales increasing 18%) ... More >>
The 6.5% unemployment rate announced by Statistics New Zealand today is a concern, but it needs to be kept perspective. In many cases it’s much worse overseas,” says Cameron Brewer, chief executive of the Newmarket Business Association. “Let’s ... More >>
Today’s Household Labour Force Survey statistics provide a damning indictment of the Government’s hands-off approach to helping hard-working New Zealanders keep their jobs, says Labour Finance spokesperson David Cunliffe. “The Government is ... More >>
Taxpayer money is being scandalously wasted on newspaper ads that don't tell the real story about the reasons behind huge ACC fee rises, Labour’s ACC spokesperson David Parker says. “The large display ads in major dailies today claims ‘motorcyclists ... More >>
Nov. 5 (BusinessWire) – The New Zealand dollar’s relatively stable performance against its Australian counterpart may indicate misplaced confidence that the local economy will keep up with the cranking pace across the Tasman, according to Reserve ... More >>
Financial markets and businesses need to appreciate the different futures New Zealand and Australia are charting out of the global financial crisis, Reserve Bank Governor Alan Bollard said today. More >>
The reality of the unemployment figures released today is that there is a lot of hurt and struggle for tens of thousands of Kiwi families, Labour Deputy Leader Annette King said today. More >>
Nov. 5 (BusinessWire) – New Zealand’s unemployment rate climbed to its highest level since the so-called “winter of discontent” in 2000 as firms continue to struggle with the fall-out of the global financial crisis which has pushed up joblessness ... More >>
Figures released today show the official rate of unemployment has again risen, says the Social Development and Employment Minister Paula Bennett. The Household Labour Force Survey puts the official rate of unemployment at 65 percent for the September ... More >>
AUCKLAND, 5 November 2009 – Thousands of businesses up and down the country are falling victim to the recession as increasing numbers default on loans and lines of credit. More >>
In seasonally adjusted terms, the number of unemployed rose by 12,000 to reach 150,000 people, and the unemployment rate increased to 6.5 percent during the September 2009 quarter, Statistics New Zealand said today. The number of people unemployed is at ... More >>
Family First NZ says that the price of budget shopping for a family has increased well above the food price index of 3.3% and could be closer to 12%. A weekly shopping basket for a family with a budget of between $150 and $225 per week was recorded ... More >>
National must start investing in job creation rather than following the extremist job slashing policies of their coalition partner ACT, Green Party Co-Leader Metiria Turei said today. Figures out today show that the number of people unemployed is ... More >>
Knowledge based industries appear to be stronger performers during the current economic climate while low-tech industries are taking a harder hit. More >>
The Council of Trade Unions says more can be done to assist the unemployed. The unemployment rate, as measured by the Household Labour Force Survey (HLFS) published today, went up to 6.5 percent in the September quarter which is 150,000 people. Peter Conway, ... More >>
I'm not a doctor - I have no medical training at all - but I have managed to diagnose an acute condition that is very common among people in my profession. Let's call it the regulatory reflex. More >>
The release of Crown Accounts show ACC investment returns in the last three months are $700 million higher than forecast, says Labour’s ACC spokesperson David Parker. “This is further proof of the Government’s manufactured ACC crisis. “Labour ... More >>
The Government’s $175 million operating deficit for the first three months of the financial year would be far worse if Super Fund and ACC investments had not made gains, says Labour Finance spokesperson David Cunliffe. More >>
The Government’s financial statements for the three months to September 30 confirm that it will take time for the economic recovery to flow through to the Crown’s revenue, Finance Minister Bill English says. More >>
Nov 4 (BusinessWire) - Recoveries in the investment performance of the ACC and New Zealand Superannuation Fund portfolios helped offset a dramatic fall in corporate and personal tax in the three months to September 30, according to Treasury financial ... More >>
Nov. 4 (BusinessWire) – Auckland house prices reached a 22-month high in October and the volume of sales rose from a year earlier, suggesting a revival in confidence in property is encouraging both buyers and sellers. More >>
The Financial Statements of the Government provide a record of the Government’s financial performance over the three months ended 30 September 2009 and its financial position as at that date. The forecast results for the three months ended 30 September ... More >>
Kiwis got right behind the excitement of the Melbourne Cup with close to a record amount of money being bet on the race through the New Zealand TAB. TAB Racing Manager Michael Dore says turnover on the New Zealand TAB tote was $7.91 million for the ... More >>
Most workers do not appear to be subject to wage freezes according to today’s Labour Cost Index (LCI) which shows hourly wage rates are still rising despite the recession and falling job numbers, says the CTU’s Economist and Policy Director Bill Rosenberg. ... More >>
Nov. 4 (BusinessWire) – The price of milk powder surged for its fourth straight month in Fonterra Cooperative Group’s online auction, climbing to a 13-month high as demand for dairy products returned to pre-crisis levels. More >>
Nov. 4 (BusinessWire) – Berkshire Hathaway Inc., the investment company led by billionaire Warren Buffett, agreed to buy railroad company Burlington Northern Santa Fe Corp. for $26 billion in a deal he says is a bet on U.S. economic growth. More >>
NZ’s creaking infrastructure and our attitude to health and safety was cruelly exposed last month when a forklift in Auckland hit a high voltage power line. The driver was lucky to escape with his life. Thousands of homes and businesses were ... More >>
The number of full-time equivalent employees, filled jobs, and seasonally adjusted total paid hours have all decreased in the year to September 2009, according to the Quarterly Employment Survey (QES) released by Statistics New Zealand today. This ... More >>
Sustainable development remains high on the international agenda, even as policy makers are distracted by the political and fiscal fall-out of the global financial crisis. Its continued prominence is illustrated by various countries’ use of fiscal ... More >>
Nov. 3 (BusinessWire) – U.S. manufacturing grew faster than expected last month and pending home sales rose helping stoke optimism the U.S. economic recovery won’t falter as the government ponders the withdrawal of stimulus measures. More >>
Nov. 3 (BusinessWire) – The number of people in full-time employment continued to decline in the three months through September as the effects of the recession flow into the workforce, while wage growth chalked up its smallest gain in almost ... More >>
Nov. 3 (BusinessWire) – Gulf states which collectively make up New Zealand’s seventh largest trading partner have agreed to sign a free-trade agreement early next year. More >>
The New Zealand Government’s additional tourism funding announced today will enable the industry to significantly grow tourism numbers and win back market share from other destinations, many of which have had substantial increases in marketing spend. More >>
Additional funding of $20 million announced today by Prime Minister and Minister of Tourism John Key is expected to bring up to around 45,000 additional visitors to New Zealand through increased marketing efforts, Tourism New Zealand says. More >>
“What result from the economic experiment?” A voice has been lost from the Parliamentary process, and every week that loss is felt more keenly. Can you hear the silence? Since New Zealand First left parliament, too many policies have not been rigorously ... More >>
That is one observation made in the NZ Property Report, a monthly survey of market activity compiled by Realestate.co.nz, the country’s most comprehensive property listing website. The latest issue, covering October, has been released today. More >>
Australian house prices surged 4.2%q/q in 3Q (J.P. Morgan: 2.6%, consensus: 3%), equal to the 4.2% spike in 2Q, which was the first quarterly rise in five quarters and the largest gain since 3Q07. The spike in house prices is largely attributed ... More >>
Chorus, Telecom's network access business, has completed the first stage of its work to enhance the broadband network in Rotorua. Lynmore is the first Rotorua suburb to have new roadside cabinets and fibre optic cable deployed in local streets to ... More >>
The numbers of kiwis travelling might have slowed in the past 12 months, but duty free newcomer, JR Duty Free is experiencing massive growth since opening its New Zealand doors less than four months ago. More >>
The recession might be officially over, but there may still be job losses in some sectors, Canterbury Development Corporation Economic Analyst Amy Marshall cautions. Releasing the quarterly Canterbury Economy report, Ms Marshall says Canterbury is ... More >>
Quotable Value Limited (QV) is very pleased to announce the purchase of the DTZ business in New Zealand, which is planned to come into effect in early November this year. More >>
Nov. 2 (BusinessWire) – Lenders led Wall Street lower on Friday, amid concerns about the strength of Citigroup’s balance sheet and increased scrutiny of banks. More >>
The week ahead is huge for RBA activity, with a policy decision Tuesday, a speech by the Governor Thursday, and the quarterly statement on Friday. There also is a wave of important economic data scheduled for release. Most importantly, the RBA ... More >>
PAUL So what do the panel make of what Finance Minister Bill English had to say? Therese Arseneau, Don Brash and Sue Bradford are our panel. Well let's deal with the housing issue first of all. He regrets but does not say sorry. Let's have a look ... More >>
Points of interest: - Government to “encourage” people off the invalids’ benefit; we “will tighten the [welfare] net a bit” - Policies to send DPB mums out to work and allow beneficiaries to earn more both back on the agenda as recession ends ... More >>
More than 20 of New Zealand’s top business women are joining forces to share their experience and expertise at a one-off conference in Auckland on November 17. More >>
A voice has been lost from the Parliamentary process, and every week that loss is felt more keenly. More >>
Oct 30 (BusinessWire) - Treasury Secretary John Whitehead looked a bit coy this week when journalists asked him whether any of the bombshells dropped in his department's latest 40-year fiscal outlook could ever be managed politically. More >>
Today’s outage throws into sharp relief the urgent need for a reliable electricity supply for the North Shore, says Mayor Andrew Williams. More >>
Yesterday's report - 'Challenges and Choices - New Zealand's long-term fiscal statement' - from Treasury rightly puts the spotlight on the issue of retirement income policy in New Zealand and Mercer is encouraging further debate around the issue, which has ... More >>
Oct. 30 (BusinessWire) – New residential building consents climbed for a third straight month as a resurgent housing market stoked construction activity amid strong demand for property. More >>
Despite the government's election undertaking not to change the age of eligibility for national superannuation, business wants the topic on the public agenda urgently. "We can't keep getting reports from government warning of vast forecast budget blowouts ... More >>
Over the year ended February 2009, provisionally there were 52,000 business start-ups in New Zealand, down 15 percent from 2008, Statistics New Zealand said today. This is the lowest number of business start-ups recorded since 2003. During the year ended ... More >>
Congratulations to John Whitehead for his characteristically candid report on the few remaining options we have unless there is radical change, says PEC spokesperson Selwyn Pellett. “Treasury’s 2009 ‘40 year outlook’ report delivers a message ... More >>
Oct. 30 (BusinessWire) – The world’s largest economy expanded in the third quarter, ending a year-long slump as massive fiscal stimulus kicked in. Stocks rallied on Wall Street, commodities rose and the U.S. dollar weakened. More >>
Helped by more dovish than expected comments from the RBNZ this morning, a fall in the Aussie dollar, and a bout of global jitters, the NZD has fallen three cents from a week ago to near US 72.5 cents. The chances are the decline is temporary and will ... More >>
The Angel Association New Zealand has appointed Colin McKinnon as its new executive director. Mr McKinnon will take on the role in addition to his position as executive director of the New Zealand Private Equity and Venture Capital Association. More >>
The time for tinkering around the edges is over and comprehensive action must now be taken in order to lift our economic fortunes and prevent New Zealand's downward spiral into debt, ACT New Zealand Finance Spokesman Sir Roger Douglas said today, ... More >>
NZ Wool Services International Ltd reports prices at today’s South Island wool auction generally benefited from the substantially weaker New Zealand dollar. Since the previous sale on 22 October, the New Zealand dollar has dropped 43 per cent against ... More >>
The valuations are an important component in Wellington City Council’s process of setting rates for the 2010/11 financial year. More >>
The Prime Minister’s Chief Science Advisor, Professor Sir Peter Gluckman, has released a report on improving the translation of publicly funded research for economic benefit. More >>
The Treasury today released its second Long-term Fiscal Statement, which looks at the issues of government spending, the tax needed to pay for it, debt – and population ageing – out to the year 2050. More >>
Oct. 29 (BusinessWire) – Shorter prison terms for non-violent offenders, larger school class sizes, reduced public services, a higher age of pension eligibility, and a higher rate of GST are among the many unpalatable choices the Treasury says ... More >>
Finance Minister Bill English has welcomed Treasury's Long-Term Fiscal Statement, which outlines some of the challenges and choices successive governments will face over the next 40 years. More >>
Chairperson of the New Zealand SAP User Group (NZSUG) Nigel Bernie today announced the agenda for the annual NZSUG Conference, which will take place on 11 and 12 November at Deloitte House in Auckland. More >>
Eight Upper South Island electricity distribution networks are collaborating to reduce peak demand on their networks, which is lessening the load on the New Zealand transmission system and putting downward pressure on transmission costs and wholesale electricity ... More >>
While the economy might be flat-lining, medical recruitment company, MedRecruit, is in excellent health and has been named the Fastest Growing Business Services Business in New Zealand, and the second fastest growing business overall in the country in ... More >>
Seasonally adjusted merchandise imports have declined to $9.5 billion, a level similar to the December 2005 quarter, Statistics New Zealand said today. The seasonally adjusted value of imports fell 8.1 percent in the September 2009 quarter, following falls ... More >>
Wellington: Australia and New Zealand Banking Group Limited (ANZ), of which ANZ National Bank is a wholly owned subsidiary, today announced its Annual Results for the year ended 30 September 2009. ANZ National Chief Executive Officer (CEO) Jenny Fagg said ... More >>
Sales of vehicles with 3.0 litre plus engines are on the rise for the third consecutive quarter according to figures released by Turners Auctions today. The report on second-hand car sales from the country’s largest vehicle auctioneers reveals sales in the 3.0 ... More >>
The signal today from the Reserve Bank that the OCR would not lift until the second half of 2010 is a clear indication that inflation is not an issue in the economy at this time but climbing out of the recession still is, said CTU Economist and Policy ... More >>
New Zealand’s 50 fastest growing companies were celebrated at events around the country tonight, as the 2009 Deloitte Fast 50 (www.fast50.co.nz) was revealed. Dunedin’s New Zealand Honey Co topped the ninth edition of the annual Index and was named the ... More >>
On average, New Zealanders’ debt defaults have increased around 50 percent versus 2002 and Kiwis are taking significantly longer to pay back the money. Latest figures compiled by debt collection agency Baycorp reveal debt referred to the company for ... More >>
Leaders from prominent Japanese and New Zealand companies will meet alongside senior government officials and leading academics in Tokyo at the second Japan New Zealand Partnership Forum which opens tomorrow Friday 30 October 2009 at 9.30 am Tokyo/1.30 ... More >>
Oct. 29 (BusinessWire) – Reserve Bank Governor Alan Bollard kept the official cash rate unchanged at a record low 2.5%, as expected, and dropped wording in his statement that rates could fall further, stoking speculation borrowing costs will rise sooner ... More >>
Reserve Bank Governor Alan Bollard said: "There are welcome signs that economic activity is growing again. More >>
The Reserve Bank’s reliance on one tool, the Official Cash Rate (OCR), is not sophisticated enough to rebalance our economy onto a more sustainable, productive footing, said Green Party Finance Spokesperson Russel Norman today. More >>
Oct. 29 (BusinessWire) – New Zealand’s annual trade deficit shank to a six-year low last month, on weaker-than-expected imports, suggesting companies aren’t rushing to re-stock in anticipation of economic recovery. More >>
New Zealand’s trade deficit narrowed to NZ$424 million in September (J.P. Morgan -NZ$900 million, consensus -NZ$681 million) from a deficit of NZ$719 million in August, owing to firmer exports and weaker imports. More >>
The Household Labour Force Survey (HLFS) estimated working-age population is based on national resident population estimates that have been adjusted to be consistent with the scope of the HLFS. The HLFS estimated working-age population represents ... More >>
Auckland International Airport Limited (Auckland Airport) today announced an offer of up to NZ$125 million bonds to the public, offering interested investors another opportunity to invest in an iconic kiwi long-term infrastructure business. The offer ... More >>
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