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Quake Insurance: Reforms To EQC Act Announced

· Increasing the monetary cap from $100,000 (plus GST) to $150,000 (plus GST) for EQC building cover.
· Clarifying EQC land cover is for natural disaster damage that directly affects the insured residence or access to it... More>>

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Reserve Bank: Official Cash Rate Unchanged At 1.75 Percent

Global economic growth has increased and become more broad-based. However, major challenges remain with on-going surplus capacity and extensive political uncertainty... More>>

Kaikōura Earthquake: Private Insurers Receive $1.8b Claims

Insurance Council Chief Executive Tim Grafton said most is for commercial loss at $1.36 billion, with residential claims amounting to over $460 million. “...We have a high level of confidence that most people will have received settlement offers by the end of this year." More>>

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Forms And Data: New Proposals To Simplify Personal Income Tax

The Government is proposing to make tax simpler for individuals, with people whose only income is from a salary, wages or investments no longer being required to file tax returns to receive tax refunds or to calculate any additional tax. More>>

OECD: NZ Economic Expansion Faces Long Term Challenges

The OECD Economic Survey of New Zealand discusses the gap between the strong short-term outlook and long-term challenges posed by low productivity growth and a changing labour market. More>>

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GDP:

 

Statistics: Vegetable Prices Up 31 Percent In Year To May
“Our wet autumn has pushed vegetable prices to their highest level in almost six years in May, with the largest annual increase to vegetables on record.” More>>

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Transport: Sichuan Airlines’ New Auckland Route
The new 13-hour direct service provides a seventh direct connection from Auckland Airport to a major Chinese city, and is the first to connect New Zealand directly to south west China. More>>

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Foodstuffs On Cadbury Exit: Backing Bid To Keep Candy In Dunedin
One team from Dunedin, led by Dr Jim O’Malley, has put their hand up to rescue the factory and continue manufacturing the favourite Kiwi candies... More>>

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10 Months To April: Crown Accounts Ahead Of Forecast
The OBEGAL was a surplus of $2.5 billion for the ten months to 30 April 2017, compared to a forecast surplus of $1.0 billion. More>>

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Deregulating Copper: Govt Announces Final Details Of Telco Act Reform
Telcos have responded positively to news the government announced the final details of the reform package for the Telecommunications Act that refines regulatory settings that will apply to fibre and copper fixed line services from 2020 although some concerns have been raised. More>>

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Winter: Road Users Urged To Take Care On South Island Roads
The NZ Transport Agency says drivers need to be extra vigilant in the South Island, with the wintry blast expected to continue to affect roads and driving conditions in many areas over the next two days. More>>

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Scoops Coverage: Budget 2017
Announcements, reaction, and analysis, as well as a look back at the leadup to Budget 2017. More>>

Myrtle Rust: Infections Found At 26 Sites
The affected properties include private gardens, plant nurseries and retailers and an orchard. The stats stand at: 21 properties in Taranaki, 3 in Northland and 2 in Waikato. More>>

Burgers To America: BurgerFuel Opens In The USA
BurgerFuel Worldwide are excited to announce the opening of their first USA based restaurant in Indianapolis, hot off the back of the Indy 500. More>>

English On Budget: Businesses Over-Egg Corporate Tax Cuts
Cutting New Zealand's 28 percent corporate tax rate is "not a panacea in the way business groups sometimes market it," says Prime Minister Bill English. More>>

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Auckland Port To Recapture Gas: Union Calls On Ports To Stop Spewing Methyl Bromide
The Maritime Union of New Zealand welcomes the decision by Ports of Auckland to stop releasing methyl bromide emissions into the air. The move to fully recapture the toxic gas after fumigation sets a new benchmark for industry best practice. More>>

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Retail: Banks Shoes Calls In Receiver
Banks Group, which runs 14 stores across the country under the brands including Banks Shoes and Shoe Connection, has been tipped into receivership at the request of director John Bank. More>>

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NZ's Space Programme: Rocket Lab Makes It To Space (But Not Orbit)
Electron lifted-off at 16:20 NZST from Rocket Lab Launch Complex 1 on the Mahia Peninsula in New Zealand. It was the first orbital-class rocket launched from from a private launch site in the world. More>>

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Earlier:

Budget: Irrigate (Good Times, Come On!)
Additional grant funding of $26.7 million over the next three years plus a capital boost of $63 million towards irrigation investments in Budget 2017 will deliver economic and environmental benefits through better use of water... More>>

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Silver Fern Farms: Proposal To Close Fairton Sheepmeat Plant
Silver Fern Farms has advised its people of the proposal to permanently close the site, and has discussed potential transfer options to its other sites in the region as part of the consultation process...
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MPI: Myrtle Rust Appears In Taranaki
The nursery in Waitara (just north of New Plymouth) reported suspected myrtle rust symptoms on young plants to the Ministry’s 0800 number yesterday (Tuesday). More>>

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Aged Care Survey: Job Stresses Put Pressure On Workforce
Staff in the aged care sector are stressed, struggling with work hours and aren’t feeling financially rewarded for their efforts. More>>

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De-Sanctioning: First Iran Meat Shipment Welcomed
Primary Industries Minister Nathan Guy has welcomed the first export shipment of meat to Iran, scheduled for processing and export later this month by Wellington company Taylor Preston. More>>

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Water Accord: Farmers 'Tackling Environmental Issues'
The independently audited report shows that 97 percent of dairy cattle are fenced off from waterways on farms... National levels of significant non-compliance for dairy effluent systems on farms have dropped to their lowest ever. More>>

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TRENZ: $178m Budget Package For Tourism Infrastructure
Tourism Minister Paula Bennett has today announced a new $102 million Tourism Infrastructure Fund which has been launched alongside $76 million in new funding for our most important tourism asset, the DOC Estate. More>>

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Reserve Bank: Official Cash Rate Unchanged At 1.75 Percent
Global economic growth has increased and become more broad-based over recent months. However, major challenges remain with on-going surplus capacity and extensive political uncertainty. More>>

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Property Council Report: Property 'NZ’s Largest Single Industry'
The report found that the property industry is the largest industry in New Zealand with a direct contribution to GDP of $29.8 billion or 13 per cent of total GDP. Property’s contribution to GDP is higher than manufacturing, agriculture, and health. More>>

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Crown Accounts: Increased Taxes, Lower Spend Helps Swell Government Coffers
Increased revenue from taxes and lower expenses boosted the government's operating surplus above its forecasts in the first nine months of the financial year. More>>

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Statistics: Grocery And Liquor Retailing Lift Card Spending In April
Retail spending using electronic cards was $5 billion in April 2017, up $218 million (4.5 percent) from April 2016. When adjusted for seasonal effects, monthly retail card spending rose 1.1 percent in April 2017 compared with March 2017. More>>