NZ dollar holds near 7-week low as US GDP, FOMC loom

Article – BusinessDesk

July 30 (BusinessDesk) – The New Zealand dollar held near a seven-week low as traders await figures expected to show US economic growth is back on track and the results of the Federal Reserve’s monetary policy review, which may hint at a better outlook. Read more »

Westland forecast follows Fonterra’s suit

Press Release – Federated Farmers

The dairy cooperative, Westland Milk Products, has charted a similar course to Fonterras benchmark forecast released yesterday for the current 2014/15 season, by announcing a pay-out forecast of $6 to $6.40 per kilogram of Milksolids (kg/MS). Read more »

GIL 2014 NZ keynote is Mega Trends to 2025

Press Release – Frost And Sullivan

Frost & Sullivans report, Worlds Top Global Mega Trends To 2025 and Implications to Business, Society and Cultures identifies 12 of these trends that will drive growth and innovation in the world; Urbanisation Bricks & Clicks, Future Infrastructure … Read more »

Labour announces unemployment policy

Press Release – New Zealand Government

Labours intention to increase the minimum wage to two-thirds of the average wage would hurt business, cost jobs and reduce growth, Labour Minister Simon Bridges says. Read more »

High house build rate welcomed

Press Release – New Zealand Government

The 23,370 new houses consented in the last year is a further sign the Government’s housing reforms are working, Housing Minister Dr Smith said today in welcoming the latest figures from Statistics New Zealand. Read more »

Labour reforms show commitment to tackling inequality

Press Release – First Union

The NZ Labour Partys just-announced industrial relations agenda demonstrates a clear commitment to tackling the growing inequality in New Zealand and restore democracy to our workplaces, according to FIRST Union. Read more »

NZ banks set to stay profitable, Moody’s says

Article – BusinessDesk

July 30 (BusinessDesk) – New Zealand’s banks should be able to maintain their strong levels of profitability, even as mounting competition puts pressure on their margins, according to ratings agency Moody’s Investors Service. Read more »

Road use surge reflects economic recovery

Press Release – New Zealand Government

Transport Minister Gerry Brownlee says increases in vehicle travel and vehicle registrations reflect New Zealands economic recovery and growing population. Total travel [measured in kilometres travelled] was flat between 2005 and 2012, but growth returned … Read more »

Labour’s policy promises a return to fairness at work

Press Release – EPMU

Workers across New Zealand will benefit from the Labour Partys work and wages policy, says the Engineering, Printing and Manufacturing Union. Labours policy is a comprehensive package which will lift wages, lower unemployment, and build a … Read more »

NZ building permits rose at fastest pace in 3 months in June

Article – BusinessDesk

July 30 (BusinessDesk) – New Zealand building consents increased at the fastest pace in three months in June, rising a seasonally adjusted 3.5 percent, as apartment developments rebounded. Read more »

Fonterra revision eats intro farm budgets

Press Release – Federated Farmers

While a downwards revision in Fonterras benchmark forecast for 2014/15 was widely expected, it has fallen lower than expected to be $6 per kilogram of Milk Solids (kg/MS). A dividend of 20-25 cents per share helps to soften things for a fully shared … Read more »

Construction activity again pushes Cantometer to fresh high

Press Release – ASB Bank

Non-residential building consents continue to improve while dwelling consent issuance could be starting to plateau. Read more »

Westland Milk follows Fonterra in slashing payout forecast

Article – BusinessDesk

July 30 (BusinessDesk) – Westland Milk Products, the Hokitika-based dairy cooperative, has followed Fonterra Cooperative Group in cutting its forecast payout for the 2015 season, citing weaker global dairy prices and high New Zealand dollar. Read more »

Rattled rock-star economy turns sour

Press Release – New Zealand Labour Party

Nationals rock-star economy is rapidly turning sour as milk prices take another dive, says Labour Leader David Cunliffe. We sympathise with the farmers who will struggle to stay afloat with the announcement of a drop in the price of … Read more »

NZ dollar falls below 85 US cts after Fonterra cuts payout

Article – BusinessDesk

July 30 (BusinessDesk) – The New Zealand dollar dropped below 85 US cents for the first time in seven weeks after Fonterra Cooperative Group cut its forecast payout to dairy farmers and a stronger US currency saw the kiwi lose some of its allure. Read more »

Growth in global milk pool ‘unusual,’ says Spierings

Article – BusinessDesk

July 29 (BusinessDesk) – The global market for dairy products have been in the unusual situation where most producers have been lifting supply, while demand weakened in China, Southeast Asia and the Middle East, says Fonterra Cooperative Group chief … Read more »

Govt fudging figures over Transmission Gully

Press Release – Green Party

The government is fudging the figures over Wellington road project, Transmission Gully, the Green Party said today. Read more »

Fonterra Revises Forecast Farmgate Milk Price for 2014/15

Press Release – Fonterra

Fonterra Co-operative Group Limited today reduced its forecast Farmgate Milk Price for the 2014/15 season from $7.00 to $6.00 per kgMS and announced an estimated dividend range of 20-25 cents per share – amounting to a Forecast Cash Payout of $6.20-$6.25 … Read more »

Quarterly Forecast: The maturing of a “rock star” economy

Press Release – ASB Bank

NZ economy maintains good momentum in 2014. But signs emerge that growth will moderate to a more sustainable pace next year. High NZD remains a dilemma for the RBNZ as it continues on its tightening path. Growing divergence between global … Read more »

Guy: Speech to Red Meat Sector conference

Speech – New Zealand Government

Following some challenging years, there are strong indications of improved results for many companies in the sector this year. Read more »

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