The job of Donald Trump’s New Zealand representative would seem a nightmare to some, but Scott Brown says he’s “the luckiest guy in the world”. Brown marks his first year as Washington’s man in Wellington this week, and spoke to Sam Sachdeva about the highs and lows of the job so far.
A pay equity settlement worth $173.5 million has been reached with mental health and addiction support workers.
Fletcher Building chief executive Ross Taylor says the company won't increase the provisions it announced in February against remaining Building + Interiors projects even though there's no completion date for the 200-room Novotel Christchurch Airport, an $80 million development that was meant to open last December.
SeaDragon's annual accounts got a black mark from its auditors for a second year, with PwC declining to express an opinion on the financial statements after failing to find enough evidence supporting the fish oil supplement maker's asset valuations.
The Ministry of Education's claim Carter Holt Harvey's Shadowclad product is defective and caused leaks in 833 school buildings will probably reach the courtroom in 12 months in a multi-staged trial, after five years of pre-hearing skirmishes that have already reached the Supreme Court.
New Zealand milk production may grow to a record of nearly 23 billion litres in the 2018/19 season, bolstered by a favourable milk price and adequate feed reserves, and assuming normal weather conditions, according to Rabobank’s dairy analyst Emma Higgins.
Failed children's clothing retailer Pumpkin Patch is unlikely to be able to pay back the millions it owes to ANZ Bank while unsecured creditors will get zilch, according to the latest report by the company's receivers KordaMentha.
Farmers will now be told when a neighbouring farm has been infected with mycoplasma bovis.
New Zealand's annual net migration fell in May as the number of foreigners arriving stayed the same but the number of New Zealanders and foreigners leaving rose.
The Government has announced that it will lift a cap on core public servants
Michael Hill International said it plans to close the remaining six stores of its Emma & Roe chain as well as the sub-brand’s online business at a total cost of no more than $3.1 million, a move allowing the Brisbane-based jewellery maker and retailer to focus on its core namesake brand.
Fletcher Building's outgoing chair Ralph Norris announced the board's audit and risk committee chair Bruce Hassall will succeed him when he steps down from the troubled building company in September.
Media company NZME says three recently-launched digital advertising products have the potential to boost revenue in a sometimes uncertain media market.
European Union trade commissioner Cecilia Malmström says a trade deal with New Zealand is economically and strategically important for the massive European market in a world on the verge of a trade war.
The New Zealand dollar rose as the greenback fell from an 11-month high amid weaker-than-expected US data and was little changed against the pound on signs the Bank of England may be closer to hiking interest rates.
As New Zealand’s GDP growth slows, Grant Robertson and Amy Adams clash on whether this is sign of "transition" or a symptom of decline
Birth, death and taxes were among the topics of discussion on the first day of EU Trade Commissioner Cecilia Malmström’s New Zealand visit. Sam Sachdeva was at Parliament for the launch of trade deal negotiations, and reports on the pains negotiators may face in their labours.
On the move in the New Zealand political economy this week:
Here's a few longer reads on matters economic, political and social from around the world's media.
This has to be the picture of the year.
Here are my pick of the links to news on the political economy from other news sites on Friday.
The Social Investment Agency is the embodiment of one of the previous Government’s key policy planks, so what does it do under a Labour government? The acting Chief Executive Dorothy Adams tells Thomas Coughlan.
Prime Minister Jacinda Ardern has given birth to a baby girl.
The rate at which potential foreign buyers of New Zealand farms subsequently withdrew their applications to the Overseas Investment Office tripled in the past 12 months, OIO figures show.
Trade negotiations between New Zealand and the European Union have officially been launched, with both sides hoping the deal sets an example for the rest of the world.
Fonterra Cooperative Group is satisfied Beingmate Baby & Child Food is taking the right steps to deal with a labelling issue after getting caught out in a widespread audit by Chinese regulatory authorities.
New Zealand's economic growth eased slightly in line with expectations in the first quarter as a fall in construction activity was offset by growth in the services industries. The primary industries regained some ground.
GDP grew by 0.5 percent in the March 2018 quarter, slowing from 0.6 percent growth in each of the previous two quarters.
Mainfreight, which last month reported a record full-year profit, told investors and analysts it expects momentum to continue.
Fletcher Building chief executive Ross Taylor said the company expects to take restructuring charges of $85 million to $95 million in its 2018 results as it moves to a decentralised operating model with more divisions and will also write down the value of its Rocla and Roof Tile businesses.
The New Zealand dollar fell to its lowest levels in about a month ahead of figures that are expected to show economic growth slowed in the first quarter, undershooting the Reserve Bank's forecast.
Jacinda Ardern is in labour so Winston Peters is now Acting Prime Minister.
Former MP and minister Peter Dunne looks underneath Simon Bridges' apparent change of tack on climate change and National's history of embracing change after the fact.
National MPs have called on Health Minister David Clark to show whether the Government's health spending meets even his own expectations.
The Prime Minister's office has announced Jacinda Ardern and her partner Clarke Gayford arrived at Auckland Hospital this morning to have her baby and that Winston Peters is now Acting Prime Minister.
Fletcher Tabuteau was once mistaken for Winston Peters’ security detail - now, he’s filling in for him on the world stage. Tabuteau spoke to Sam Sachdeva about racking up the miles as an undersecretary, working in the shadow of Peters and Shane Jones, and his aspirations for higher office.
The New Zealand Nurses Organisation has given notice to district health boards that nurses will strike next month.
Fonterra Cooperative Group wants more information from its Chinese partner Beingmate Baby & Child Food amid reports the infant formula firm didn't make sure product sourced from another supplier met its licensing conditions.
The nation is in waiting.
Here are my pick of the links to news on the political economy from other news sites on Thursday.
The New Zealand dollar is hovering around 69 US cents as trade war jitters continue to ramp up but attention could shift to the domestic arena tomorrow if the first quarter gross domestic product data surprises. The kiwi traded at 69.01 US cents as at 5pm in Wellington versus 68.96 US cents as at 8am in Wellington and 68.83 cents late yesterday. The trade-weighted index fell to 73.33 from 73.49.
New Zealand's organic sector has grown 30 percent over the past two years to an estimated value of $600 million, led by a 42 percent jump in organic exports, according to the latest market report published today.
The Treasury says a "first version" of its living standards framework will be ready for the government to use in Budget 2019, although it expects to see the measures it uses evolve over time.
Retirement village operators are disappointed that the select committee considering the Overseas Investment Amendment Bill did not exempt them from having to get approval before buying sensitive or residential land to build new villages.
New Zealand consumer confidence declined broadly in the June quarter as the pace of the country’s economic growth cooled along with the housing market, while fuel prices rose, according to the latest Westpac McDermott Miller consumer confidence survey.
New Zealand's current-account turned to a surplus in the first quarter, bolstered by the services balance as tourism remained strong.
Toyota New Zealand, the country's biggest car brand, achieved record vehicle sales in its latest financial year and generated its highest ever revenue on the back of a strong economy.
The New Zealand dollar fell below 69 US cents after US president Donald Trump said he would target US$200 billion more Chinese products for tariffs and China threatened to retaliate, ramping up concerns about a trade war that could dent global growth.
Donald Trump threatened to impose tariffs on US$200 billion of Chinese imports. China promised to retaliate. Trump said he would add another $200 billion if China did. The Kiwi dollar fell below 69 USc. David Parker agreed to exempt Singaporeans from the foreign buyers ban to allow the CPTPP to go ahead. Kris Faafoi announced plans to toughen rules on beneficial ownership and director identification. A major inquiry into a firm of private investigators used by Government agencies was launched.
Dairy product prices fell at the Global Dairy Trade auction, as whole milk powder slid amid data showing New Zealand’s processors collected record levels of milk in recent months because of improved weather conditions.
Dr Bryce Edwards of Victoria University argues the recent surge in industrial action it’s not necessarily down to the change of Government.
Nelson-based aquaculture firm New Zealand King Salmon Investments believes fish-farming in Cook Strait, using newly emerging submersible technology being developed in Norway, is the route to realising its ambitions for expansion. Pattrick Smellie from Business Desk reports.
The government's directive to the Overseas Investment Office to raise the bar in overseas applications to buy sensitive New Zealand land has scared away tens of millions of dollars in investments in rural property and will hurt farm values, real estate firms say. Jonathan Underhill from BusinessDesk reports
An official inquiry into Government use of private investigators has been expanded to include the entire state sector, after revelations of more ties between agencies and the firm.
The Government has carved Singapore out of its foreign buyers ban, in a move that will ease strained relations between the two countries. Sam Sachdeva reports.
It's cold, wet and windy today in Wellington for what seems like the umpteenth day in a row.
Here are my pick of the links to news on the political economy from other news sites on Wednesday.
In what sounds like the plotline of a Hollywood movie, a man accused of importing cocaine escaped custody after a string of blunders by the Customs service. Shane Cowlishaw reports.
The New Zealand Superannuation Fund's board has appointed Matt Whineray as chief executive, a role he has been acting in since March after Adrian Orr left the job.
The New Zealand dollar jumped about a quarter of an Australian cent, extending recent gains against its trans-Tasman counterpart, as investors were spooked by US President Donald Trump escalating his trade war with China.
New Zealand sheep farmers, whose fortunes in recent years have been overshadowed by their dairy farmer colleagues, are having a strong season with lamb prices approaching record levels, according to AgriHQ's Monthly Sheep & Beef report for June.
The Government has bowed to pressure from developers and offered an exemption to the foreign buyers ban.
Dairy product prices are expected to slip at the Global Dairy Trade auction overnight amid a pick-up in supply, even as global trade tensions appear to benefit demand for New Zealand dairy products.
Deutsche Craigs is seeking bids for the 24.8 million shares, or a 9.03 percent stake, in Pushpay Holdings that co-founder Eliot Crowther is looking to sell.
New Zealand Refining has named Mike Fuge as its new chief executive, tapping a manager with experience in renewable energy as the company seeks to engage with the government over its policy of reaching net zero carbon emissions by 2050.
New Zealand milk processors collected record levels of milk in the last two months of the 2017/18 season as favourable weather boosted pasture growth, helping make up for trying conditions during the spring and early summer.
The New Zealand dollar rose to the highest level in more than six weeks against its Australian counterpart on expectations the Australian economy will be harder hit by any slowing in China's growth.
A nurses strike looms within a fortnight unless the Government can either stonewall unions in final negotiations or relax its fiscal pursestrings a bit. The Government has relented slightly on its foreign buyers ban, allowing foreigners to hold on to new apartments and hotel units they provide the capital to build. But rest home operators and wine companies missed out on the exemptions they hoped for.
Developers of multi-storey apartment blocks and hotels will be able to invite in foreign buyers again under changes to the Government's foreign buying ban law. Conveyancers also dodged a bullet and telcos got an exemption, but retirement village operators failed to win the exemption they hoped for. Nikki Mandow looks at the winners and losers in the select committee's changes to the Overseas Investment Amendment bill.
Nurses and teachers are pushing the Labour Government for massive pay increases, but the Government is rejecting their claims on the grounds of being fiscally responsible -- for now. Thomas Coughlan reports.
Police have released emails showing the steady stream of media enquiries they received about false allegations involving Prime Minister Jacinda Ardern’s partner Clarke Gayford - and the pressure they felt under to respond.
This week in the political economy in the week ahead...
Who would have been an Australian sports fan over the weekend. Their rugby team was beaten by Ireland. Their football team was beaten by France. Their cricket team was beaten by England. As Donald Trump might say: so sad...
Here are my pick of the links to news on the political economy from other news sites on Tuesday.
Deputy Prime Minister Winston Peters doubled down on last week's New Zealand First party attacks on the performance and leadership of Fonterra, saying the country's largest business was costing the economy more than $2 billion from food safety and animal welfare scares.
Foreign buyers will still be able to buy homes in New Zealand, if recommendations by the Finance and Expenditure select committee are adopted.
Economists have shaved a few basis points off their forecasts for New Zealand economic growth in the next two years even while forecasting stronger wage pressures, according to the NZIER Consensus Forecasts.
Economic Development Minister David Parker based his criticism of the ANZ Bank's business confidence survey on comments attributed to the bank's former chief economist Cameron Bagrie, who now runs his own consultancy.
Bunnings, the hardware chain owned by Australia's Wesfarmers, will pay more than $11 million to 12,235 New Zealand past and current employees after identifying mistakes in implementing the Holidays Act 2003.
The New Zealand dollar fell as China responded to US tariffs by imposing its own trade levies on US$34 billion of US goods, unsettling markets and weighing on commodities.
Donald Trump launched US$50 billion of new tariffs against technology imports from China. Beijing retaliated immediately with tariffs on US$50 billion worth of US beef and poultry imports. Simon Bridges announced he wanted a bi-partisan approach on climate change, but did not commit to a carbon neutral target and said he would not accept "extreme" policies that increased household costs unnecessarily or damaged the economy.
Technology columnist Richard MacManus takes a deeper look at the opportunities in China for New Zealand technology companies and finds we have a few advantages.
After years of discussions, the European Union is officially launching trade deal negotiations with New Zealand. EU Trade Commissioner Cecilia Malmstrom is headed to New Zealand this week, and spoke to Sam Sachdeva ahead of her visit about what the EU will get out of the deal - as well as the shaky state of international trade.
The Government has announced a levy for international tourists, but has also snuck in a proposal that would increase costs for New Zealand citizens as well. Shane Cowlishaw reports.
The viticulture industry is crying foul over new overseas investment rules, claiming it is unfair forestry is being given special treatment
The MPR Raccoon story is the gift that just keeps giving.
Here are my pick of the links to news on the political economy from other news sites on Monday.