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Inequality: Top 10% Of Housholds Have Half Of Total Net Worth

The average New Zealand household was worth $289,000 in the year to June 2015, Statistics New Zealand said today. However wealth was not evenly distributed, with the top 10 percent accounting for around half of total wealth. In contrast, the bottom 40 percent held 3 percent of total wealth. More>>

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What Winter? Temperature Records Set For June 20-22

The days around the winter soltice produced a number of notably warm tempertaures. More>>

Conservation Deal: New Kākāpō Recovery Partnership Welcomed

Conservation Minister Maggie Barry says the new kakapo recovery partnership between DOC and Meridian Energy is great news for efforts to save one of New Zealand’s most beloved birds. More>>

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Tech Sector Report: Joyce Warns Asian Tech Investors View NZ As Hobbits And Food

Speaking in Wellington at the launch of a report showcasing the value of the technology sector to the New Zealand economy, Joyce said more had to be done to tell the country's technology stories overseas. More>>

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Mediaglommeration: APN Gets OIO Approval For Demerger Plan

APN News & Media has received Overseas Investment Office approval for its plan to split out its NZME unit ahead of a potential merger with rival Fairfax Media's New Zealand operations. More>>

New Paper: Ninety-Day Trial Period Has No Impact On Firms' Hiring

The introduction of a 90-day trial period has had no impact on hiring by New Zealand companies although they are now in widespread use, according to researchers at Motu Economic and Public Policy Research. More>>

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Corrections: Serco Exits Equity Stake, Remains As Operator

Serco has sold its equity stake in the company that holds the contract to design, build and run Wiri Prison in South Auckland but continues as sub-contractor to operate the facility. More>>

GDP: NZ Economy Grows Faster-Than-Forecast 0.7%

New Zealand's economy grew at a faster pace than expected in the first quarter of 2016 as construction expanded at the quickest rate in two years. The kiwi dollar jumped after the data was released. More>>

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WHO: Hot Drinks Classed As 'Probably' Causing Cancer
The World Health Organization's cancer agency has found no conclusive evidence that coffee causes cancer but that drinking very hot drinks (65 °C or above) probably causes cancer of the oesophagus. More>>

MPI: NZ Primary Sector Export Goals Remain A Stretch
The Ministry for Primary Industries says its goal of doubling New Zealand's primary sector exports by 2025 will require the annual growth in the value of exports to almost triple starting this year. More>>

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Surreal Estate: National House Price Median Passes $500k For The First Time
New Zealand’s national median house price has reached a new record high, passing the $500,000 mark for the first time to hit $506,000, according to the latest figures released today by REINZ, source of the most recent, complete and accurate real estate data in New Zealand. More>>

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Rocket Science: NZ Gears Up For The Global Space Economy
The Government is putting in place a new regulatory regime to enable safe, secure and responsible space launches from New Zealand, Economic Development Minister Steven Joyce says. More>>

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Statistics: NZ Food Prices Fall In May As Tomatoes, Potatoes Get Cheaper
New Zealand food prices fell in May, snapping two months of gains, as cheaper tomatoes and potatoes brought down the price of fresh produce. Food prices fell 0.5 percent last month and were 0.3 percent lower than May 2015. More>>

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Banks Move: New Restrictions On Overseas Property Buyers
Two of New Zealand's biggest banks have imposed new restrictions on overseas property buyers... Labour's finance spokesman Grant Robertson said banks were acting while the government had its head in the sand. More>>

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Reserve Bank: Official Cash Rate Unchanged At 2.25 Percent
Global financial market volatility has abated... Domestic activity continues to be supported by strong net immigration, construction, tourism and accommodative monetary policy. The dairy sector remains a moderating influence with export prices below break-even levels for most farmers. More>>

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Disengaging With Content: MediaWorks Puts The 'Out' In Scout
MediaWorks has today announced it has concluded negotiations with Rachel Glucina for the purchase of Rachel's interest in the Joint Venture partnership of the Scout brand. More>>

Xero Approves: No More Need For Written Signatures On Tax Returns
The passing of legislation that will allow Inland Revenue to accept electronic signatures will free up accountants and others from an outdated system. More>>

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Brewing: Lion To Buy Cult Upper Hutt Brewer Panhead
Lion - Beer, Spirits and Wine (NZ), New Zealand's biggest beer maker, has agreed to buy Panhead Custom Ales from the family of founder Mike Neilson, its second such purchase of a popular craft brewer after the acquisition of Dunedin-based Emerson's Brewing Co in 2012. More>>

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Budget Building Battle: Bill English Blames Council On Housing
The Nation: Finance Minister blames Auckland Council for housing shortage, saying it is responsible for land, housing and infrastructure supply in the city, while government provides rental subsidies... More>>

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Megiaglommeration: NZME And Fairfax Apply For Authorisation To Merge
The Commerce Commission has received an application from Wilson and Horton Limited (trading as NZME) and Fairfax NZ Limited seeking authorisation to merge their media operations in New Zealand. More>>

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Half Empty: Fonterra's 2017 Opening Forecast Below Expectations
Fonterra Cooperative Group raised its forecast farmgate milk payout for next season by less than expected as the world's largest dairy exporter predicts lower prices will crimp production and supply will pick up. The New Zealand dollar fell. More>>

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Pest Control: Mouse Blitz Team Leaves For Antipodes
The Million Dollar Mouse project to rid Antipodes Island of mice is underway with the departure of a rodent eradication team to the remote nature reserve and World Heritage Area. More>>

Gongs Got: Canon Media Awards & NZ Radio Awards Happen
Radio NZ: RNZ website The Wireless, which is co-funded by NZ On Air, was named best website, while Toby Manhire and Toby Morris won the best opinion general writing section for their weekly column on rnz.co.nz and Tess McClure won the best junior feature writer section. More>>

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Pre-Budget: Debt Focus Risks Losing Opportunity To Stoke Economy
The Treasury is likely to upgrade its forecasts for economic growth in Budget 2016 next week but Finance Minister Bill English has already signalled that more of his focus is on debt repayment than on fiscal stimulus or tax cuts... More>>

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Fulton Hogan's Heroes: Managing Director Nick Miller Resigns
Fulton Hogan managing director Nick Miller will leave the privately owned construction company after seven years in charge. The Dunedin-based company has kicked off a search for a replacement, and Miller will stay on at the helm until March next year, or until a successor has been appointed and a transition period completed. More>>

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Gordon Campbell: On Electricity, Executions, And Bob Dylan
The Electricity Authority has unveiled the final version of its pricing plan for electricity transmission. This will change the way transmission prices (which comprise about 10% of the average power bill) are computed, and will add hundreds of dollars a year to power bills for many ordinary consumers. More>>

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Half Empty: Fonterra NZ, Australia Milk Collection Drops In Season
Fonterra Cooperative Group says milk collection is down in New Zealand and Australia, its two largest markets, in the first 11 months of the season during a period of weak dairy prices. More>>

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'Best Estimate': NZ Fishery Catch 2.7 Times More Than Reported
The total amount of marine fish caught in New Zealand waters between 1950 and 2010 is 2.7 times more than official statistics suggest, according to the best estimate to date. Unreported commercial catch and discarded fish account for most of the difference. More>>

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Budget: English Takes Election Year Tax Cuts Off The Table
In his traditional pre-Budget speech to the Wellington Chamber of Commerce, English said the government would prioritise repaying government debt over new spending and tax cuts in the next five years.In his traditional pre-Budget speech to the Wellington Chamber of Commerce, English said the government would prioritise repaying government debt over new spending and tax cuts in the next five years. More>>

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