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Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

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Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

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Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

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Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

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Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

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Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

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Housing: Key Moots Tax On Foreign Buyers
Prime Minister John Key told TV One’s Q+A programme that the government could use a land tax to restrict foreign investment in residential housing under any re-negotiated free trade agreement with China... But the Prime Minister said, “at the moment, we’re not trying to stop the investment coming in.” More>>

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Robotics: NZ Wins World Schools Champs Title For Eighth Year
For the eighth year in a row New Zealand has earned the right to call themselves world champions at the VEX world robotics championships... Auckland’s Lynfield College achieved the ultimate accolade being crowned the winners of the High School Excellence Award, the top award of the championships. More>>

Demand Growing: New Zealand Wine Production Having A Goldilocks Year
Production volumes of New Zealand wine grapes this year are expected to be significantly higher than in 2015, although within a manageable range, said Rabobank’s latest quarterly wine report. More>>

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Cleaner Public Transport: US$30M Electric Vehicle Deal For NZ Bus
Infratil today announced a US$30m deal with Wrightspeed Inc. to supply its first-in-kind, award-winning electric powertrain technology – the Route™ 500, which it intends to deploy on its public transport business through NZ Bus. More>>

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Commerce Commission:Baby City Faces Charges Over Safety Of Cots
All charges brought by the Commission are under the Fair Trading Act 1986. They relate to two models of Baby City’s household cots (Milano 3-in-1 Sleigh style cot (Sleigh Cot) and Milano Phoenix cot (Phoenix Cot)) sold between October 2014 and October 2015. More>>

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Royal Society Report: New Zealand Vulnerable To The Threats Of Climate Change
The report finds that climate change, already underway, will almost certainly accelerate this century unless drastic action is taken to reduce global emissions of greenhouse gases... Changes expected to impact New Zealand include at least 30cm and possibly more than one metre of sea-level rise this century. More>>

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Echoes Manufacturing Slowdown: NZ Services Growth Slows In March
Growth in New Zealand's services sector, which accounts for about two-thirds of the economy, eased in March, echoing a slowdown in the pace of manufacturing. More>>

Gambling: Govt Open To Betting On Reality TV Under Racing Act Reform
The government is seeking public submissions on changes to the Racing Act which could see it impose fees on foreign gambling operators accepting bets from New Zealand, as well as expanding its own product range to compete better with online platforms. More>>

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Telco Review: More Predictable Regulation For Copper, Fibre
The copper and fibre-optic networks used for New Zealand telecommunications services will move to a simpler, more predictable form of regulation, similar to that used for regulating the monopoly parts of the electricity system, Communications Minister Amy Adams announced. More>>

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Pay As You Go: Budget Plans For Business Tax
• Provisional tax is being reformed, with a new pay-as-you-go option giving up to 110,000 small businesses a way to pay tax as they earn income from 1 April 2018.
• Use-of-money interest will be eliminated or reduced for the vast majority of taxpayers... More>>

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Food Up 0.5%: Cauliflower Prices At Record High
Food prices rose 0.5 percent in March 2016, Statistics New Zealand said today. This was influenced by rises across a range of vegetables, including record high prices for cauliflower. After adjusting for seasonal effects, food prices rose 0.8 percent. More>>

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Canada Deal: New International Competition And Consumer Law Arrangement
Commerce and Consumer Affairs Minister Paul Goldsmith today welcomed the signing of a co-operation arrangement between the Commerce Commission and the Canadian Competition Bureau. More>>

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House Prices: Sales And Turnover Hit Records In March
New Zealand house sale prices broke records across the country in March as Auckland's strength and the halo effect on surrounding regions continued to improve... The median price in Auckland shot to $820,000, past $800,000 for the first time, and up 14 percent from a year earlier. More>>

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Higher Learning: Neuroimaging Psychoactives - LSD May Benefit Medical Science
Research into the effects of LSD on the brain has revealed the potential for the drug in psychological research, according to a University of Auckland researcher involved in a new study. More>>

Beating Forecast: $398 Million Surplus In 8 Months To Feb
The operating balance before gains and losses (OBEGAL) was a surplus of $398 million for the eight months to 29 February, $730 million higher than forecast. More>>

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Mesh Labs: Steel & Tube Mesh Off Sale After Failed Test
The Commerce Commission welcomes Steel & Tube’s decision not to sell SE seismic steel mesh until the mesh has been through a dual testing process and the company has test results that demonstrate compliance with the standard. More>>

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Fisher And Paykel Appliances: Phased Closure Of East Tamaki Factory
The factory currently operates four days a week and employs 186 staff. A two-stage approach is being considered, with phased closures likely in July and November, and factory decommissioning thereafter. Announcing the decision to staff, Managing Director and CEO Stuart Broadhurst assured them the closure had nothing to do with their performance. More>>

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Unison Charges: Regulator Takes Issue With Penalty For Solar Power
The Electricity Authority says plans by the Hawke's Bay electricity lines operator, Unison Networks, to charge a special tariff effectively penalising households that install solar power units on their rooves are out of step with its recommendations. More>>

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Construction Begins: Hawaiki Cable Contract For Cable System Has Come Into Force
The Hawaiki submarine cable system is a new trans-Pacific cable, which will link Australia and New Zealand to mainland United States, as well as Hawaii, with options to expand to several South Pacific islands. Permitting and initial route planning began in June 2015 and the system will be completed by mid-2018. More>>

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CTU: Another Forestry Worker Killed At Work
This is the fourth forestry worker (or fifth including a construction worker who was killed on a forestry block) to be killed in forestry this year. “Are we heading for another 2013? 10 men were killed at work in forestry in 2013, our most shameful year on record." More>>

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Re-Defibrillating: Bunnings Listens To Community Feedback
We sincerely appreciate the constructive feedback from our Customers and Team. This has always been very important to us and has provided us with the opportunity to review our current approach. More>>

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Other Employment Disputes:

Employment: Bunnings Dispute Heads To ERA
The development comes after Bunnings suspended hundreds of workers across the country for removing their signature aprons in a symbolic protest against the company’s repeated refusal to compromise on rostering. More>>

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Invaders: Velvetleaf Weed Hunt Goes National
The call for sightings of the aggressive weed velvetleaf has shifted to a national one following the detection of the plant in fodder beet crops in the North Island... Velvet leaf is a serious weed pest overseas, damaging crops by competing with them for nutrients and water. In New Zealand, it is an Unwanted Organism under the Biosecurity Act. More>>

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Above Forecast: NZ Economy Grows 0.9% In 4th Quarter 2015
New Zealand's economy grew at a faster pace than expected in the final three months of 2015 on increased activity in business services, a boost in retail and accommodation spending, and renewed construction activity. The kiwi dollar jumped. More>>

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'When Not If': Big Carbon Emitters To Lose ETS Subsidy: Bennett
Big industrial emitters of greenhouse gases will lose their right under the emissions trading scheme to offset only half of their emissions, Climate Change Minister Paula Bennett told an international energy conference in Wellington today. More>>

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