Taxpayers robbed of $130m in Genesis sale

Press Release – New Zealand Labour Party

Kiwi taxpayers have been robbed of $130 million by the Government in its final failed asset sale, says Labours SOEs spokesperson Clayton Cosgrove. Read more »

Joyce out of touch with his business mates

Press Release – New Zealand Labour Party

Steven Joyce has spent the past five years attacking Labour with his tired old screams of 1970s! but in the meantime most of his business friends have come around to our way of thinking, says Labours Economic Development spokesperson Shane Jones. Read more »

AMP Capital selling kiwi dollar in expectation of decline

Article – BusinessDesk

April 17 (BusinessDesk) – AMP Capital New Zealand, which manages more than $18 billion of assets, anticipates the kiwi dollar will start falling, and has started reducing its holdings in the local currency. Read more »

Where Are The 15,000 Jobs?

Press Release – Auckland Action Against Poverty

Paula Bennett is today proudly telling New Zealand that beneficiary numbers have decreased by 15,000 in the past year. There is no proud declaration that 15,000 jobs have been created in the same period, says Auckland Action Against Poverty spokesperson, … Read more »

‘Chipper’ kiwis push up consumer confidence in April

Article – BusinessDesk

April 17 (BusinessDesk) – New Zealand consumer confidence rose in April as kiwis became more confidence about their own financial position, giving them greater enthusiasm for buying major household items. Read more »

Genesis shares stag 17% at listing, first trade at $1.81

Article – BusinessDesk

April 17 (BusinessDesk) Shares in the partially privatised Genesis Energy debuted on the NZX this afternoon, rising 26 cents, or 17 percent, from their $1.55 issue price, to $1.81 in the first minutes of trading. Read more »

Labour to double depreciation rate in targeted industries

Article – BusinessDesk

April 17 (BusinessDesk) The major new element in the Labour Partys manufacturing policy, announced today, assumes depreciation rates for assets in each affected industry would double, a party spokesman says. Read more »

RBNZ Observer: Another 25bp hike expected next week

Press Release – HSBC Bank

The RBNZ became the first developed world central bank to hike rates this cycle, in March, raising its cash rate by 25bp to 2.75%. We expect the RBNZ to follow through with a further 25bp rate hike next week, as New Zealands economy remains on track … Read more »

Air NZ Cargo ExportNZ Auckland Award finalists announced

Press Release – ExportNZ

New Zealands reputation as a land of milk and honey lifestyle is underpinned by an increasing range of eclectic high value businesses epitomized by the finalists in the 2014 Air New Zealand Cargo ExportNZ Awards Auckland. Read more »

Depreciation, buy Kiwi-made in Labour manufacturing policy

Article – BusinessDesk

April 17 (BusinessDesk) The Labour Party has unveiled its pitch to the manufacturing sector, adding accelerated depreciation for advanced manufacturing and promising to target more government procurement from local firms. Read more »

NZ dollar drops to 5-wk low vs. pound after upbeat UK jobs

Article – BusinessDesk

April 17 (BusinessDesk) The New Zealand dollar dropped to a five-week low against the British pound after UK unemployment fell more than expected and wage growth accelerated, turning investor attention to the possibility of higher interest rates. Read more »

English confirms he has no plan to raise wages

Press Release – New Zealand Labour Party

Finance Minister Bill English has confirmed he has absolutely no plans to lift wages, Labours spokesperson on Labour Issues, Andrew Little says. Read more »

NZ government scales back larger applications for Genesis

Article – BusinessDesk

April 16 (BusinessDesk) – The government will progressively scale down applications for large shareholdings in Genesis Energy ahead of tomorrows listing after the final partial privatisation in the current programme attracted 68,000 investors. Read more »

NZ inflation moderates: Still expect a rate hike next week

Press Release – HSBC Bank

New Zealand’s CPI increased by +1.5% y-o-y in Q1 (market had +1.7%) a slight moderation from the +1.6% annual pace seen in Q4. Domestic costs are moving higher on the back of a strengthening economy, but, at the same time, an elevated NZD helped … Read more »

Now David really has some explaining to do

Press Release – New Zealand Government

Transport Minister Gerry Brownlee says Labour leader David Cunliffe has got himself in the most astonishing predicament on TV3s Firstline this morning, by claiming the National Land Transport Fund is going to be in surplus very soon, so its … Read more »

Interest rates rise but only smokes increasing

Press Release – New Zealand Labour Party

Mortgage rate rises are making life harder for homeowners, and many of them will be surprised the latest CPI figures show inflation would be zero were it not for tobacco tax hikes, says Labours Finance spokesperson David Parker. Read more »

Low innovation and weak international connections

Press Release – Productivity Commission

Although productivity growth is picking up, New Zealand still has a large productivity gap compared to other OECD countries. Read more »

Rio Tinto Wins 2013 Roger Award

Press Release – CAFCA

Sky City Casino Second, Chorus Third – The criteria for judging are by assessing the transnational (a corporation with 25% or more foreign ownership) that has the most negative impact in each or all of the following categories: economic dominance … Read more »

NZ consumer prices rise 0.3% in 1Q, missing estimates

Article – BusinessDesk

NZ consumer prices rise 0.3% in first quarter on tobacco tax hike, more expensive housing Read more »

CPI increases 0.3 percent in March quarter

Press Release – Statistics New Zealand

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. Read more »

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