Archive for December, 2009

2012 “International Year of the Cooperative”

Press Release – New Zealand Cooperatives Association

It’s Christmas season and New Zealand cooperatives have an additional reason for celebration: on 18 December, the 64th Session of the United Nations General Assembly in New York proclaimed 2012 as the International Year of Cooperatives. The proclamation … Read more »

NZ stocks confound strategists in 2009 with rally

Article – Businesswire

Dec. 24 (BusinessWire) – New Zealand’s stock market confounded investment strategists in 2009, a year that began with a retreat toward anything defensive and ended with a halfway decent rally led by fast-food operator Restaurant Brands and children’s … Read more »

Gull reduces pump prices for the holiday weekend

Press Release – Gull Petroleum

Graham Stirk, Gull Retail Manager noted that Kiwi families will be travelling to be with family and friends during the weekend and this is Gull’s way of saying thank you for your support during the past year. Read more »

South Canterbury BB+ rating affirmed by S&P

Article – Businesswire

Dec. 24 (BusinessWire) – South Canterbury Finance Ltd., the finance company owned by Allan Hubbard, had its BB+ credit rating affirmed by Standard & Poor’s, reflecting its access to debenture funding, new independent directors and clean financial … Read more »

New property taxes will not be supported

Press Release – Property Council Of New Zealand

Property Council says it will be the commercial sector that is left to foot the bill if the Government endorses a number of options being considered by the Victoria University Tax Working Group, including the introduction of property and land tax. Read more »

WWF asks public to report Maui’s dolphin sightings

Press Release – World Wildlife Fund

WWF is asking communities along the west coast of the North Island to get in touch if they are lucky enough to see rare Maui’s dolphins amongst the waves this summer. Read more »

Four Working Papers Published by Treasury

Press Release – New Zealand Treasury

The views, opinions, findings, and conclusions or recommendations expressed in working papers published by the Treasury are strictly those of the authors. The working papers do not necessarily reflect the views of the Treasury or the Government. The papers … Read more »

Time to hit banks and international speculators

Press Release – Bad Banks Campaign

“It’s great news that the Aussie-owned banks have to pay up their unpaid tax,” says Vaughan Gunson, Bad Banks campaign manager. “It’s a defeat for them.” Read more »

Nine Waikato Retail Outlets Fail Compliance Test

Press Release – Waikato District Health Board

Nine Hamilton, Morrinsville and Matamata dairy owners and employees are facing prosecution and a fine of up to $2000 after selling cigarettes to people under 18 years of age. Read more »

A corporate Christmas gift with a difference

Press Release – Telecom New Zealand

It’s been a tough year for many New Zealanders but thanks to a new take on corporate Christmas gifts, six kiwi charities have received an end of year bonus. Read more »

Stocks to watch: Allied, AIA, NZX, WBC

Article – Businesswire

Dec. 24 (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. Read more »

ASB Resolves Tax Dispute

Press Release – ASB Bank

ASB today announced that it has reached a settlement with the Commissioner of Inland Revenue (CIR) relating to four structured finance transactions. The transactions are the subject of amended assessments issued by the CIR and disputed by ASB. Read more »

NZ dollar trades above 70 cts on US housing data

Article – Businesswire

Dec. 24 (BusinessWire) – The New Zealand dollar climbed back over 70 U.S. cents as the greenback ran out of puff before Christmas amid weaker-than-expected U.S. housing data. Read more »

Vodafone worst ISP: Consumer NZ survey

Press Release – Consumer NZ

Vodafone has slumped below Telecom to be ranked as New Zealand’s worst Internet Service Provider, according to Consumer NZ’s latest annual internet survey. Read more »

Dunne: Banks settlement victory for legal process

Press Release – New Zealand Government

The settlement announced tonight between the Commissioner of Inland Revenue and four major banks in a long-standing court dispute was in a victory for legal process, Revenue Minister Peter Dunne said. Read more »

Resolution to NZ Structured Finance Litigation

Press Release – Westpac

Westpac Group confirmed today that it was one of four banks including BNZ, ANZ and ASB to reach a settlement with the NZ Commissioner of Inland Revenue (CIR). Read more »

BNZ reaches a settlement with Inland Revenue

Press Release – Bank of New Zealand

BNZ has reached a full and final settlement with the Commissioner of Inland Revenue regarding disputed tax assessments for six structured finance transactions entered into between 1998 and 2005. Read more »

Settlement with New Zealand Inland Revenue

Press Release – ANZ Bank

ANZ today announced that it had reached a commercial settlement with the New Zealand Commissioner of Inland Revenue concerning the tax treatment of certain legacy structured finance transactions. Read more »

NZX touts benefits of local electricity futures

Article – Businesswire

Dec. 24 (BusinessWire) – NZX Ltd., the New Zealand stock exchange operator, says it is best placed to host a local electricity futures market and warns of the pitfalls of foreign ownership. Read more »

Banks deliver $2.2 billion Xmas bonus to NZ

Article – Businesswire

Dec. 23 (BusinessWire) – New Zealand’s four largest foreign-owned banks have thrown in the towel and settled tax avoidance disputes with the Inland Revenue Department for more than $2.2 billion in what is believed to be the largest commercial settlement … Read more »

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