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.
New Zealand is now enjoying stable centre right government. That’s something we haven’t had since the start of MMP. More >>
It's vital that John Key sticks to his promise that superannuitants be fully compensated for the projected GST rise, Age Concern New Zealand says. More >>
Sweet spot’ for stock markets over, but still a better bet in 2010: AMP Capital More >>
Science New Zealand welcomes the remarks on science and innovation in the Prime Minister’s Opening Address to Parliament today. More >>
The commercial property sector looks forward to working with the Government to ensure potential changes to the tax system do not drive up the cost of doing business in New Zealand. More >>
The Royal Society of New Zealand’s President, Dr Garth Carnaby, says the comments in Prime Minister John Key’s opening statement to Parliament show an “elevation in the significance of science”. More >>
Figures showing the number of long-term unemployed has almost trebled in a year make a mockery of John Key’s pledges to reduce long-term welfare dependency, says Labour Deputy Leader Annette King said today. More >>
Prime Minister John Key delivered his opening parliamentary address today in which he unveiled the direction of the government’s economic and tax policies. The government’s economic plan focuses on six main policy drivers: a growth enhancing tax system; ... More >>
Once again, we’ve heard the rhetoric – but there’s no substance. It’s Alan Bollard one, John Key nil. More >>
The silence by the Prime Minister today on tax rates requires reading between the lines to see where the Government is heading. From his statements, the Government has accepted the TWG’s integrity and coherence concerns. This indicates the most ... More >>
The proposed rise in GST makes the Prime Minister John Key "Robin Hood in reverse" says the Alliance Party, which probably means he is playing the role of the Sheriff of Nottingham - robbing from the poor to help the rich. More >>
The Wellington Regional Chamber of Commerce has congratulated the government for signalling a full programme of reforms for the year ahead including reform of the tax system. More >>
The Government’s intentions to stop tinkering with the tax system and create one that is certain and easy to comply with is a move in the right direction, said Auckland Chamber CEO Michael Barnett. More >>
Lifting GST as mooted by Prime Minister John Key in his opening address to Parliament this afternoon would only be acceptable to the country's retailers if most consumers are quickly compensated by tax relief in other areas, says Cameron Brewer, chief ... More >>
All business will be impacted by any increase in GST. However, Tourism and Financial Institutions will be more affected than others. More >>
Most New Zealanders will agree with the government's broad objective to reduce income taxes and plug holes in the tax base in respect of over investing in residential property, the Employers & Manufacturers Association (Northern). More >>
Business NZ has welcomed the development of a cohesive plan pointed at a stronger economy, as outlined in the Prime Minister’s statement More >>
The Key Government is intent on digging New Zealand into an economic and environmental black hole, said Green Party Co-Leader Dr Russel Norman today. More >>
The Government starts 2010 with a very full programme of reform in front of it. Our eyes will be firmly on the economy this year as we continue to implement our economic plan. More >>
Feb. 9 (BusinessWire) - Prime Minister John Key is obsessed with two things about the New Zealand economy. One is the fact that productive industry has been shrinking as proportion of the economy for more than five years. More >>
Feb. 9 (BusinessWire) - There will be no land tax and no tax on imputed rental property income, Prime Minister John Key announced in his scene-setting speech kicking off the parliamentary year, this afternoon. More >>
New Zealand’s dairy herd now matches human population, wine output soars, government figures show More >>
Business owners remain cautious despite signs of a gradual economic recovery, with more than half still not planning to sell their businesses until after at least five years, according to the latest ASB Succession Planning Monitor. More >>
The US payroll report appears to have had a calming influence on markets. Although the 20K payroll job loss was near consensus, the details of the report were positive, including the increasingly solid trend in the growth of hours worked and labor income. More >>
NZ business survey shows confidence still high but coming year expected to be hard work More >>
Speculation was rife in Monday’s post-Cabinet press conference, but John Key was having none of it. The Prime Minister said little on the eve of his statement to Parliament, which is tipped to focus heavily on an overhaul of the tax system. More >>
Despite standard salary bands being in place, salaries on offer have been lower due to budget constraints. Many candidates have been open to accepting lower base salaries due to the scarcity of roles. More >>
Recent tough economic times have prompted Hamilton City Council to consider a reduction in its proposed annual rates increase, to relieve financial pressure on ratepayers. More >>
Property Tax proposals before the Government could impose significant additional costs on business and potentially reduce the international competitiveness of New Zealand’s productive sector, if not carefully implemented. More >>
Genesis opens bidding for a South Island customer base Feb. 8 (BusinessWire) - Genesis Energy is the latest power company to go for a chunk of the once-lucrative Dunedin retail electricity market, following the announcement of electricity reforms that ... More >>
2010 looks set be a more positive year for New Zealand agriculture as global economic recovery continues to gain momentum, creating a positive impact on food commodity prices and strengthening household consumption against a backdrop of restricted world ... More >>
The RBA surprised just about everyone last week by leaving the rate steady at 3.75% despite, judging by the upbeat accompanying statement, officials being confident the economy is in great shape. More >>
In our report on the 2010 outlook for Australia (“Australia’s economy in 2010: still ‘the lucky country,’” GDW , January 8), we highlighted the remarkable resilience of the Australian economy in the face of the global recession. More >>
Perhaps we can all quietly sign a pact to forego comparing a free trade deal with the US to the quest for the Holy Grail. This ‘free trade as Holy Grail’ notion is a cliché that will not die, because the media loves it so much. More >>
Today, Statistics New Zealand released Business Toolbox, a suite of online tools that provides quick and easy access to information for businesses. Business Toolbox is the latest of a series of projects to improve access to and use of official information ... More >>
The latest Builderscrack.co.nz Tradesman Job Size Index, published today, showed that the average size of jobs completed by tradespeople fell for the second month in January, as fewer larger jobs were completed, and competition remained strong ... More >>
Property values have increased further according to the QV residential property indices for January released today. Nationally, values are 4.4 percent above the same time last year, and 4.3 percent below the peak of the market in late 2007. More >>
Feb. 8 (Business Wire) - Fear has returned and it appears set to drive many investors’ trading strategies at least until there are clearer signs how Europe is coping with rising deficits and more data supporting the recovery in the U.S. economy. More >>
Feb. 8 (BusinessWire) – New Zealand’s housing market hasn’t worked itself up into another boom as initially feared, with weaker sales, less home building and lower mortgage approvals, Reserve Bank Governor Alan Bollard said. More >>
Feb. 7 (BusinessWire) – House values rose 4.4% in the year through January in what was a “patchy” first month for 2010, according to State-owned property valuer QV Valuations. More >>
We have heard a lot of talk recently about how New Zealand's tax system is broken and that it requires radical surgery, the latest being the January 20 Report of the Victoria University tax working group ( http://www.victoria.ac.nz/sacl/cagtr/pdf/tax-report-website.pdf ... More >>
Feb. 8 (BusinessWire) - Electricity retailers will experience pressure on their profit margins in 2010, thanks to higher wholesale electricity prices, transmission system upgrade costs, and investment in new generation capacity, says Fitch Ratings in its ... More >>
Even the Reserve Bank Governor doesn’t believe John Key’s election promise that he had a plan for New Zealand to catch up with Australia, Labour Leader Phil Goff said today. More >>
We propose an index of “market confidence” which suggests that the markets lack confidence in the fiscal policies of Greece and Portugal versus Ireland. Belgian, French, Irish and Dutch banks have the biggest exposure to Southern Europe. More >>
Despite remaining risks, the global economy is on track for widespread above-trend growth in 2010. Central banks at the vanguard of policy tightening take a timeout More >>
Points of interest: Bollard dismisses government’s aim of catching Australian incomes by 2025: “I don’t think we can catch up with Australia”; Bollard says New Zealand should aim to benefit from the “crumbs [that] come off the Australian table” More >>
Asian equities have been posting sharp losses of over 2%, moves reminiscent of European and US market overnight. A country leading this region wide downfall is Taiwan which is currently trading 4.6% lower on the day resembling Spain, where equities fell ... More >>
Feb. 5 (BusinessWire) - Early reports from today's hui of Maori and national leaders at Waitangi suggest a typically turbulent exchange, piqued this year by signs of how the John Key-led National-Maori Party government continues to change the way ... More >>
The Reserve Bank followed its shock decision Tuesday to leave the cash rate steady at 3.75% by today releasing another upbeat assessment of the economy in the Statement on Monetary Policy (SoMP). Indeed, as we anticipated, the tone of the language again ... More >>
With unemployment statistics the highest they have been in a decade it is critical to invest more in education, not less, PPTA president Kate Gainsford says. More >>
Well, we’re now seeing some of the fruits of small government, and having government butt out of our lives. Unemployment rose to 7.3 % during the last three months of 2009, the highest rate in ten years. Some 168,000 New Zealanders are now out of work, ... More >>
The latest New Zealand Manufacturers and Exporters Association (NZMEA) Survey of Business Conditions completed during January 2010, shows total sales in December 2009 decreased 6% (export sales decreased by 7% with domestic sales decreasing 4%) ... More >>
Feb. 5 (BusinessWire) – Auckland International Airport Ltd., the country’s major gateway, welcomed more international flights on to its runways in 2009, but fewer passengers. More >>
The economic news was not all bad this week but, pending tomorrow’s payroll report, on balance the data disappointed. Two developments stand out, both of which pertain to the sustainability of the expansion. One was today’s jobless claims report, ... More >>
Globalisation and an opening up in world trade have seen growth in cargo volumes coming relatively easily to many ports over the last 20 years, including at Ports of Auckland. More >>
A further 10,000 more women are now struggling to financially support their families after a significant increase in unemployment, Labour Women’s Affairs Sue Moroney said. More >>
The 7.3% 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. More >>
While unemployment continues to rise, the outlook for the Wellington labour market shows some promise according to the Wellington Regional Chamber of Commerce. More >>
Figures revealing over 72,000 young New Zealanders are now unemployed is shocking confirmation National’s talk about ensuring all our youth have employment and training opportunities is nothing more than empty sloganeering, says Labour Deputy Leader ... More >>
Retail sales values unexpectedly fell in December, suggesting the earlier resilience of the consumer has suffered at the hand of the RBA. After spiking 1.5%m/m in November, retail sales values fell 0.7% in December (J.P. Morgan and consensus: 0.2%), the ... More >>
Residential building approvals rose a respectable 2.2%m/m in December (J.P. Morgan -1.5%, consensus 0.0%), after a significant jump in November. Private sector building approvals were up for both houses and ‘other’ (i.e. higher density) dwellings. More >>
Feb. 4 (BusinessWire) – Auckland house prices slid 8.6% last month amid an ongoing decline in sales, even as more properties are put on the market. More >>
The Engineering, Printing and Manufacturing Union is warning record unemployment levels may become the norm if the Government continues to do nothing. The call follows news of the highest unemployment levels since 1992 and an absence of any signs employment ... More >>
New, higher than forecast, unemployment figures out today show this Government’s economic policies have failed miserably, Labour leader Phil Goff says. More >>
After eighteen consecutive months of falling sales, January new car registrations are ahead of 2009 numbers. More >>
NZ jobless rate jumps to 7.3%, may slow start of rate hikes; kiwi, swap rates drop More >>
View for the day The Norges bank kept rates on hold today, and the accompanying statement was a tad more dovish than expected as there was no discussion of a rate hike. Although the omission of these comments does not preclude a hike next month; ... More >>
New Zealand’s five major banks (Westpac, ASB, ANZ National, BNZ and Kiwibank) are emerging from the gloom of the recession, maintaining core earnings and showing measured balance sheet growth despite a trebling in bad debt expenses and the accruing ... More >>
Feb. 4 (BusinessWire) - A 22% drop in the number of New Zealanders and long term residents departing the country last year produced the highest net rise in permanent, long term migration since 2004, Statistics New Zealand figures issued today show. More >>
The unemployment rate in New Zealand spiked to 7.3% in the December quarter (J.P. Morgan 7.2%, consensus 6.8%) from 6.5%. The increase in the final three months of the year means that the unemployment rate now is 3.5% higher than at the start of ... More >>
The sharp rise in unemployment in the December 2009 quarter to 7.3 percent (the highest in 10 years) raises great concerns for the 168,000 unemployed, and for the continued recovery of the economy, said CTU President Helen Kelly. More >>
The number of New Zealanders looking for one hours work a week or more reached 168,000 in the December quarter, a rise of 0.8 per cent. The greater than predicted rise has been put down to an increase of 14,500 people in the working age population. More >>
By sitting on the sidelines the Government has contributed to the huge rise in unemployment levels says the National Distribution Union (NDU) which is calling for action to help get New Zealanders back into work. More >>
SAP Australia New Zealand (ANZ) has recorded a strong year of revenue growth for the financial year ending 31 December 2009, lead by key industries including Retail, Financial Services, Utilities and Public Sector where investment in infrastructure ... More >>
Australian imports exceeded exports for a ninth consecutive month in December, with the trade deficit continuing to widen. The deficit expanded to A$2.3 billion from an upwardly revised A$1.7 billion in November. More >>
Six months of stable fuel prices have given consumers the confidence to venture back into the large car market, according to figures released by Turners Auctions today. More >>
Feb. 3 (BusinessWire) – The price of whole milk powder fell for a second month in Fonterra Cooperative Group’s online trading auction amid expectations of increased output from northern hemisphere producers. More >>
Feb. 3 (BusinessWire) - The price of whole milk powder fell for a second month in Fonterra Cooperative Group’s online trading auction amid expectations of increased output from northern hemisphere producers. More >>
US car sales eased to 10.8mn units in January from 11.2mn in December. This poses a modest headwind for overall consumption last month although other aspects of spending easily could pick up the slack. We look for a 2% gain in consumer spending and a ... More >>
Feb. 2 (BusinessWire) – The Reserve Bank of Australia unexpectedly left its benchmark interest rate unchanged at 3.75%, saying lenders had raised rates more than the cash rate in recent months and it wants more time to assess the impact. More >>
Feb. 2 (BusinessWire) – Finance Minister Bill English has set the date for the budget at May 20 and said tax reforms will “definitely” be included. More >>
The New Zealand Community Economic Development Conference will be held at the Lincoln Green Conference Centre in Waitakere, Auckland from February 9-11. The conference begins with a Powhiri at Waitakere City Council at 6.30pm on February 9. More >>
Finance Minister Bill English today confirmed Budget 2010 will be delivered on May 20 and will set out important policies to lift economic growth and give hard-working New Zealanders incentives to get ahead. More >>
The crucial importance of ring-fencing the Working for Families scheme has been highlighted by a Ministry of Social Development survey showing that the number of children in hardship dropped from 26 percent in 2004 to 19 percent in 2008, says Labour Revenue ... More >>
The fact that the number of full-time equivalent jobs and total paid hours declined in the December quarter shows that thousands of hard-working Kiwis are not sharing in the economic recovery, says Labour Finance spokesperson David Cunliffe. David ... More >>
Feb. 2 (BusinssWire) – The number of people in full-time employment grew for the first time in 12 months amid the slowest annual wage growth since 2001, as the impact of the worst recession in 18 years continues to lean on the labour market. More >>
Feb. 2 (BusinessWire) – The country’s sheep and beef farmers can expect a tougher year than last season as a strong New Zealand dollar and on-farm capital stock rebuilding decrease returns in a global market recovering from recession. More >>
In the December 2009 quarter, salary and wage rates (including overtime) increased 0.4 percent. From the December 2008 quarter to the December 2009 quarter: Salary and wage rates (including overtime) increased 1.8 percent. Overtime wage rates increased ... More >>
The strength of the New Zealand dollar (NZD) will have the biggest impact on sheep and beef farm gate receipts and profitability, according to Meat & Wool New Zealand’s Mid-Season Update for 2009-10. More >>
Strong economic data is helping risk markets to extend their gains in the US session, as equities are currently trading higher by around 1%. Today’s ISM report was exceptionally strong, with the headline index jumping 3.5 points to 58.4, and new orders inching ... More >>
With business confidence rising and employers once again looking to hire, employers should concentrate their energies on using their referral networks to find quality staff, says Megan Alexander, New Zealand general manager of specialist recruitment ... More >>
Rising unemployment and fewer working hours drove private sector labour costs lower in New Zealand in the December quarter. The private sector labour cost index, which of the various wage measures receives most attention from the RBNZ, rose 0.3%q/q ... More >>
Australian house prices increased 5.2%q/q in 4Q (J.P. Morgan: 5.5%, consensus: 3.5%), accelerating from consecutive 4% jumps in the second and third quarters. After a sluggish 2008, the recovery of Australia’s housing market over 2009 is all the ... More >>
For the first time in four years the number of new properties listed for sale in January was less than that of December, confirming the sluggish state of the New Zealand property market. More >>
With tight economic times still pervading, staying on top of your finances and avoiding unnecessary costs – like dishonour fees - is essential. More >>
Phil Goff, thank you very much for joining us on Q+A this morning we really appreciate you being here. Let's start with something you don’t agree with the government on, and that is the economy. More >>
Feb. 1 (BusinessWire) – New Zealand’s unemployment rate probably rose in the fourth quarter to near its peak, as the ongoing impact of recession ensures surplus labour capacity and keeps a cap on wages growth. More >>
Feb. 1 (Business Wire) - Hot on the heels of Friday’s report showing the U.S. economy is powering ahead will be the latest read on whether all that activity is translating into jobs growth. More >>
Tomorrow’s RBA decision is the clear highlight in Australia this week; we look for a 25bp rate hike and for upgrades to the RBA’s growth and inflation forecasts in the quarterly statement on Friday. The steady stream of firm domestic data since ... More >>
Gaming machine expenditure in the country’s 1500 pubs and clubs in the year ended December 2009 decreased 5.2 per cent compared to 2008, according to figures released by the Department of Internal Affairs. Spending dropped from $912.6 million in 2008 ... More >>
New Zealand's inflation targeting monetary policy has proven flexible, durable and successful, but economic growth requires more than this, Reserve Bank Governor Alan Bollard said today. More >>
In the aftermath of the financial crisis, the household saving rate is expected to drift higher and deleveraging to continue Rising labor income and a reduction in fear set to produce a 2.5% spending gain, well below the expected 3.6% pace of US ... More >>
Labour Finance spokesperson David Cunliffe says today’s Crown Accounts show that the recession has been shorter and shallower than forecast, with fiscal deficits now forecast for only six years, not ten. "While there’s still a need for responsible ... More >>
Jan. 29 (BusinessWire) – Reserve Bank of New Zealand Governor Alan Bollard says new liquidity rules for lenders, which come into effect in April, will restrict their access to cheap wholesale funding, helping damp credit growth and reducing the need ... More >>
Jan. 29 (BusinessWire) – The revival in residential construction stalled last month in what was a tough December for house vendors, though non-residential building perked up to end the year flat. More >>
Crown accounts for the five months to November 30 were slightly better than forecast, but reinforce the need for responsible fiscal and economic management through 2010, Finance Minister Bill English says. “We face another six years of Budget deficits ... More >>
The trend for the number of new homes authorised (excluding apartments) continued to rise in December 2009, Statistics New Zealand said today. This rise in trend came despite a fall of 1.4 percent in the seasonally adjusted number in December 2009. More >>
Jan. 29 (BusinessWire) – Applications for hire purchase and personal loans climbed last month, while credit cards declined, suggesting consumers are leaning toward more conservative borrowing in the wake of the recession, says Veda Advantage. More >>
NZ’s annual trade deficit shrinks to lowest level in 7 years as imports fall More >>
New Zealand’s trade balance surprisingly returned to surplus in December, printing at NZ$2 million (J.P. Morgan -NZ$200 million, consensus -NZ$100 million) from -NZ$269 million in the previous month. Exports improved, as expected, but imports also were ... More >>
• Highest positive response since the survey began in 1998 • Shift in attitude towards investments with greater potential returns • Rental properties remain number one investment Investor confidence has climbed to the highest recorded level since ... More >>
Jan. 28 (BusinessWire) – A crackdown on cartels in New Zealand led by Commerce Minister Simon Power could save consumers facing prices up to 20% higher by companies gouging them. More >>
The RBNZ left the official cash rate (OCR) steady at 2.5% this morning as expected and maintained that, provided the economy continues to recover in line with the RBNZ’s projections, policy stimulus will begin to be removed “around the middle of 2010.” More >>
The FOMC statement contained no changes to the Fed's forward looking policy guidance and reiterated that rates should remain low for an extended period. There were some minor upgrades to the Fed's description of the economy - the Fed now describes the ... More >>
This government takes a crush ‘em and crate ‘em approach to crime – unless that is, the offender happens to be wearing a tie. In which case, judging by the Ministry of Economic Development discussion paper on business cartels released yesterday, ... More >>
The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 2.5 percent. Reserve Bank Governor Alan Bollard said: "The outlook for the New Zealand economy remains consistent with the projections underlying the December Monetary Policy Statement. More >>
(BusinessWire) – Reserve Bank Governor Alan Bollard kept the official cash rate at a record-low 2.5% as expected, and said the gradual recovery in the economy was in line with expectations and gave him breathing space to stick to his timeline of ... More >>
The New Zealand Nurses Organisation (NZNO) is appalled by the National governments lack of commitment to addressing the needs of low paid workers in New Zealand. NZNO represents more than 5,000 caregiver members working in residential aged care; some ... More >>
Libertarianz leader Richard McGrath today attacked the government for “further dissociating pay rates from productivity”, and asked John Key to produce X-ray films “to prove that he actually has a spine.” “Once again, our Prime Minister ... More >>
The New Zealand youth union movement, Stand Up, is disgusted with the Government’s failure to properly assist the lowest paid in the New Zealand economy by only raising the minimum wage by 25 cents, and is urging it to remove the trainee/new entrant ... More >>
A group of business leaders, representing hundreds of stakeholders in Taupo’s commercial community, have formed an action group to advocate collectively for economic growth in the district. More >>
Jan. 27 (BusinessWire) – Ratings agency Moody’s Investors Service predicts New Zealand’s non-performing loans have peaked and has boosted its outlook on the country’s banking sector to stable as the economy dragged itself out of its worst recession ... More >>
The Service and Food Workers Union Nga Ringa Tota says a 25 cent increase to the minimum wage is insufficient and demeaning to the 100,000 people in New Zealand who earn on or about the minimum wage. “Whilst an increase to the minimum wage is positive, ... More >>
The current environment makes adjusting the minimum wage a difficult balancing act and today’s increase of 25 cents is probably reasonable in the circumstances, says Business NZ. Business NZ Chief Executive Phil O’Reilly says given the Government’s ... More >>
National's decision to increase the minimum wage will cause unemployment among those that are least able to deal with the consequences, ACT Finance Spokesman Sir Roger Douglas said today. "Increasing the minimum wage seems like a nice idea, but in reality ... More >>
The Government’s miniscule lift to the minimum wage will immediately be swallowed up by rising living costs, Labour spokesperson on labour issues Trevor Mallard says. The Government today announced the lowest possible rise to the minimum wage – up ... More >>
A twenty-five cent increase in the minimum wage will do little to help some of New Zealand’s most vulnerable families make ends meet, said Green Party Co-leader Metiria Turei today. “John Key’s Government lacks both the courage and the compassion ... More >>
The National Distribution Union has slated the 25 cent an hour increase in the minimum wage announced by the Government today. NDU General Secretary Robert Reid says the Government has missed an opportunity to assist low income workers make ends meet, ... More >>
The Government has moved to increase the minimum wage from $12.50 to $12.75 in line with the Consumer Price Index, Minister of Labour Kate Wilkinson announced today. The training and new entrants’ minimum wages will increase from $10 to $10.20 “The ... More >>
"The government throwing 25 cents to minimum wage workers is a cheap shot" said Campaign for a Living Wage organiser Joe Carolan. This is barely 2% of nothing, and will be well below real inflation when his government raises GST in the budget." "Low paid ... More >>
Last week’s Tax Working Group report states that the current tax system is “incoherent, unfair, lacks integrity, unduly discourages work participation and biases investment decisions.” What happened in the course of a decade? The answer can be summed up ... More >>
Jan. 26 (BusinessWire) – Among companies on the Standard & Poor’s 500 that have reported so far there are early indications that an earnings recovery is underway after nine quarters of dwindling profits. More >>
Labour’s spokesman on labour issues Trevor Mallard is to introduce a Bill in Parliament for the minimum wage to be raised to $15 over two years. The move follows a public survey last week which demonstrated strong public support for the Government to set ... More >>
With the challenges of New Zealand’s prolonged recession behind them, CEOs are confident their organisations are emerging stronger and are more optimistic about the future. They believe the decisions they have made, including cost reduction initiatives ... More >>
Federated Farmers is applauding the $271 million, which Fonterra’s farmer-shareholders have invested into the Cooperative to share-up. “In less than stellar economic times, around one-third of Fonterra Cooperative Group’s shareholders have ‘shared-up’,” ... More >>
Jan. 26 (BusinessWire) – New Zealand employers are increasingly looking to hire more people in the coming quarter as businesses put the difficulties of 2009 behind them, according to the latest Hudson Report: Employment Expectations. More >>
Despite the widely held consensus that the economy is beginning to recover, the effects of recent redundancies and higher levels of unemployment continue to make the sales and marketing job market extremely competitive. More >>
Producer prices in Australia fell 0.4%q/q at the final stage of production in 4Q (J.P. Morgan: 0.6%, consensus 0.1%), after rising 0.1% in the previous three months. Though the headline number was much weaker than expected, it is important to note ... More >>
Jan. 26 (BusinessWire) – The following stocks may be active on the New Zealand exchange after developments since the close of trading yesterday. All prices are in New Zealand dollars unless specified. More >>
Trade Minister Tim Groser departs today for Davos, Switzerland to attend the World Economic Forum between 27-31 January. He will then visit Beijing, China and Tokyo, Japan. A key focus of Mr Groser’s trip to Davos is the annual informal meeting ... More >>
Jan. 25 (BusinessWire) – Farmers have rallied behind Fonterra Cooperative Group’s new equity rules, allowing them to subscribe for up to 120% of their milk production, buy 60 million new shares for $270.7 million. More >>
Jan. 25 (BusinessWire) – New Zealand’s service sector continued to expand last month, albeit at a slower pace than November, as the hospitality sector paced consumer spending during the festive season. More >>
A negative Cost Price Inflation (CPI) figure for the December quarter means that lower for longer must be the message from Dr. Alan Bollard at the Official Cash Rate announcement on Thursday say the New Zealand Manufacturers and Exporters Association ... More >>
NZ business payment days rose in 4th-qtr, improvement seen in 2010, says D&B More >>
Jan. 25 (BusinessWire) – Reserve Bank Governor Alan Bollard will probably wait until at least April before raising interest rates, though officially he may stick to his hinting at a mid-year hike this week. More >>
Jan 25 (Business Wire) - Sharemarket investors are going to be tested this week and it could get nasty, some are saying. More >>
Jan. 22 (BusinessWire) - Here's a story you probably won't read anywhere else about the findings of the Tax Working Group. More >>
The time has long past for Social Development Minister Paula Bennett’s excuses about growing unemployment in New Zealand to stop, Labour deputy leader Annette King says. Latest figures out today show that the number of people claiming the Unemployment ... More >>
Jan. 21 (BusinessWire) - The Tax Working Group's final report is insightful but meek, says the New Zealand Institute of Economic Research, which says some pain of economic adjustment must be accepted if the economy is to perform more strongly. More >>
Four work stoppages ended in the September 2009 quarter and 18 work stoppages ended in the September 2009 year, Statistics New Zealand said today. Stoppages in the September 2009 year involved 2,010 employees, and losses of 1,382 person-days of work and an ... More >>
Last year was all about moving away from a Depression scenario and growth appearing here and overseas. Responding to the absence of a dire outlook we saw some massive shifts in asset prices with medium to long term borrowing costs jumping back up, ... More >>
Water storage in the Hawke’s Bay applauded News that Hawke’s Bay Regional Council has commenced a detailed feasibility study for water storage infrastructure to serve central Hawke’s Bay, is being applauded by Federated Farmers. “29,000 hectares, ... More >>
New Zealand Wool Services International Ltd reports that prices at today’s auction of North Island wool in Napier increased, mainly due to the weaker New Zealand dollar. More >>
Jan. 21 (BusinessWire) - The New Zealand Superannuation Fund continues to claw its way back from the 22% investment losses reported at the height of the global financial crisis, posting a 17.4% return for the six months to December 31. More >>
Proposals for tax reform show a lack of imagination and creative thinking, according to Maori Party co-leader Dr Pita Sharples. “Tax is all about who pays what share of the nation’s bills, and that goes to the heart of a party’s political philosophy,” ... More >>
The announcement today by the Minister of Tourism, Prime Minister John Key, detailing the allocation of the $10 million Joint Venture funding between Regional Tourism Organisations, the private sector and Tourism New Zealand, is the culmination of ... More >>
A financial transactions tax is a better option for widening the tax base and reducing income tax than increasing GST, MP for Wigram and Progressive Party leader Jim Anderton says. “GST is a regressive tax,” Jim Anderton says. “GST falls hardest on people ... More >>
In November 2009, total retail sales were up 0.8 percent ($46 million), following two months of flat results, Statistics New Zealand said today. The latest increase was led by automotive fuel retailing (up $20 million), and the ‘other retailing' ... More >>
Jan. 21 (BusinessWire) – New Zealand retail sales resumed growth in November as rising petrol prices pushed up spending on fuel, and demand for goods including garden supplies and jewellery grew the most in 17 months. More >>
Manufacturing activity ended the year on a positive note, with expansion small but steady, according to the BNZ - Business NZ Performance of Manufacturing Index (PMI). More >>
Jan. 21 (BusinessWire) – New Zealand manufacturing climbed to its highest level in two years in December, led by an increase in production and new orders, underlining the economy’s recovery from recession. More >>
Jan. 21 (BusinessWire) - Carter Holt Harvey Ltd is placing 29 dairy farms on converted Waikato forestry land on the market, asking $224.5 million in the largest single offering of farming land ever seen in New Zealand, according to Bayleys Real Estate, ... More >>
Management Accountants, Quantity Surveyors, HR Advisors and Office Managers are some of the skills employers seek this New Year reports Hays, the leading recruiting experts in qualified, professional and skilled people. In the January - March edition of ... More >>
Commerce Minister Simon Power has asked officials to provide advice to him on whether key aspects of company registration could be strengthened. This follows concerns recently expressed about New Zealand's company registration process. Mr Power says ... More >>
Jan. 20 (BusinessWire) - New Zealand has an opportunity to cut company tax rates ahead of Australia, rather than waiting for the results of Canberra's fundamental tax system review, Finance Minister Bill English said today in answer to questions ... More >>
To catch up with Australia we need an efficient, fair tax system that does not obstruct growth, but since that's miles from what we have, the recommendations of the Tax Working Group are in general extremely timely and welcome. More >>
Media Release – for immediate release 20 January 2010 Waterview Application A Boost For Hard Hit Contractors The New Zealand Transport Agency’s application to have the Waterview Connection project considered under the new national consenting process ... More >>
THE NATIONWIDE CAMPAIGN TO REPLACE THE PRESENT SYSTEM OF COUNCIL RATES WITH A FAIRER SYSTEM WHICH REFLECTS ABILITY TO PAY AND VALUE FOR MONEY. More >>
Jan. 20 (BusinessWire) - Residential property investors face a double-whammy under proposals unveiled today by the Tax Working Group which could raise $2 billion from a sector currently costing taxpayers $150 million a year. More >>
Click here for the full Note and disclosures. Inflation in New Zealand eased in the final three months of 2009, but the medium term outlook reaffirms our view that the RBNZ will need to tighten monetary policy before official guidance suggests. ... More >>
“The Tax Working Group’s report does not go far enough in recommending what it believes are the best options for New Zealand’s tax system. There are now some critical decisions for the Government to consider, in what is a relatively short ... More >>
Tax Working Group: Main Recommendations The main recommendations of the Tax Working Group final report are: More >>
The Government will carefully consider the Tax Working Group’s report on options for improving New Zealand’s tax system, Finance Minister Bill English and Revenue Minister Peter Dunne said today. More >>
Jan. 20 (BusinessWire) - Raising GST to 15% and closing down around $2 billion a year in tax loopholes on property ownership would help pay for tax reforms that could cut the top personal tax rate to 30% and the company tax rate to 25%, says the Tax ... More >>
Jan. 20 (BusinessWire) – The New Zealand dollar tumbled 0.6% after the Consumer Price Index unexpectedly shrank last quarter, pushing out the likely timing of interest rate increases by the Reserve Bank. More >>
Jan. 20 (BusinessWire) – New Zealand consumer prices fell in the fourth quarter, matching the central bank’s forecast and sending the kiwi dollar lower on the prospects of a longer wait before the bank raises interest rates. More >>
The consumers price index (CPI) fell 0.2 percent for the December 2009 quarter, Statistics New Zealand said today. This fall, which was driven by lower food prices and weaker increases for other goods and services, contributed to an annual increase of 2.0 ... More >>
Food prices decreased 0.3 percent in the December 2009 month, Statistics New Zealand said today. This is the fifth consecutive monthly fall in food prices, the first time it has happened since December 1967. December’s fall in the food price index ... More >>
Jan. 18 (BusinessWire) – Appetite for mergers and acquisitions may return this year as the global economy emerges from the worst slump since WWII, helping stoke valuations as companies trim debt and lift earnings, according to KPMG. More >>
Jan. 18 (BusinessWire) - New Zealand's economic recovery will be stronger than most economists are forecasting, with growth likely to top 4% next year, Westpac Banking Corp said in its quarterly economic overview. More >>
Jan. 18 (BusinessWire) – New Zealand house prices edged up in December as the property market continued to recover from its trough last year, though activity was at a “concerning” low level. More >>
The results of a survey in today’s Herald demonstrate strong public support for the Government to set a decent rise in the minimum wage, Labour Party spokesman on labour issues Trevor Mallard says. Six out of 10 of the 2300 people surveyed said ... More >>
NZ inflation may have flat lined in 4Q; RBNZ may hike OCR 75 bps by June More >>
“The NZ Herald poll this morning that found that 61% of New Zealanders support raising the minimum wage to $15 per hour, underestimates the support we are getting from thousands of people every week at our campaign stalls and workplaces” said ... More >>
Jan. 15 (BusinessWire) - Electronic card transaction figures for December confirm a modest recovery in consumer spending but, at best, an unspectacular Christmas for retailers depending on the yuletide season to boost sales. More >>
After adjusting for seasonal effects, the value of retail electronic card transactions increased 0.7 percent in December 2009, Statistics New Zealand said today. Automotive fuel retailing has been the main contributor to increases in this series since July ... More >>
Jan. 15 (BusinessWire) - The first shipment of crude oil from the long-awaited Kupe oil and gas field heads for the Kwinana refinery in Australia from Port Taranaki next week, local partner in the field, New Zealand Oil & Gas announced today. More >>
The number of new homes authorised for construction (excluding apartments) rose 3.1 percent in November 2009 when adjusted for seasonal effects, Statistics New Zealand said today. This follows an 11 percent rise in October 2009 and brings the number ... More >>
Jan. 14 (BusinessWire) - The pace of residential home-building continues to pick up, although few new apartments are being built and non-residential construction is down across most sectors, according to November 2009 building consent totals released ... More >>
Jan. 13 (BusinessWire) - The following stocks may be active on the New Zealand exchange after developments since the close of trading last week. All prices are in New Zealand dollars unless specified. More >>
Jan. 12 (BusinessWire) - The following stocks may be active on the New Zealand exchange after developments since the close of trading last week. All prices are in New Zealand dollars unless specified. More >>
Headline reading of business confidence fell in 4Q Capacity utilization jumped Underlying inflation pressures building The NZIER Quarterly Survey of Business Opinion (QSBO) released this morning showed a fall in the headline reading from a decade high +36 ... More >>
The remarkably strong retail sales report released in Australia last week reaffirmed our view that the RBA will deliver another 25bp rate hike in February—that is, barring any unexpected adverse shocks. Key data is scheduled for release ahead of ... More >>
• Expansion to quicken in 2010 as exports lead economy out of recession • Improved confidence will buoy consumer and business spending • RBNZ policy tightening to begin in March; OCR to reach 4% by end-2010 The New Zealand economy emerged in 2Q09 ... More >>
Bank workers’ union Finsec is calling on the government to toughen its oversight of the Australian owned banks in light of revelations that shows the banks paid dividends to their parent companies in 2009 that were more than double what they earned. In ... More >>
Jan. 8 (BusinessWire) - Greymouth Petroleum has confirmed first flows of oil and gas from its joint venture exploration project with the Chilean state oil company after more than a year's delay caused by unexpected changes to New Zealand tax law ... More >>
Jan. 8 (BusinessWire) - The following stocks may be active on the New Zealand exchange after developments since the close of trading yesterday. All prices are in New Zealand dollars unless specified. More >>
New Zealand’s trade deficit narrowed in November to NZ$269 million (J.P. Morgan -NZ$390 million, consensus -NZ$300 million) from NZ$495 million in the previous month. Imports headed south, as expected, but exports were higher, remaining resilient in ... More >>
The value of both merchandise imports and exports fell in November 2009 compared with November 2008, down 22.0 percent and 16.7 percent, respectively, Statistics New Zealand said today. This is the eighth consecutive monthly fall for imports and ... More >>
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