Fitch Ratings flagged a downgrade for New Zealand-based Credit Union Insurance Ltd, trading as Co-op Insurance NZ, citing uncertainty about the proposed sale of the company's entire business book to Provident Insurance Corporation.
Farm sales fell 7 percent on the year in the three months to June and the median price per hectare was down 16.3 percent although horticulture farm prices continued to push higher, according to the Real Estate Institute.
The Commerce Commission says Christchurch International Airport may be planning to make excessive profits from security, freight storage, and some terminal lounges, though it's "broadly satisfied" with its planned earnings from most of its assets.
Infometrics says strong growth in major exporting regions will help underpin the country’s economic growth during 2019.
New Zealand Trade and Export Growth Minister David Parker said he will hold talks with his Pacific Alliance counterparts in Mexico next week to “seek further progress” on a free trade agreement with the four-nation trade bloc, the world’s sixth-largest economy.
The New Zealand dollar gained as Federal Reserve Jerome Powell continued to deliver an upbeat assessment of the world's biggest economy in his second day of testimony, while US trade relations were also in view.
Crown research institute GNS Science almost hired controversial private investigators Thompson & Clark to provide security for an offshore research project - only to pull the pin over fears of bad media coverage. Sam Sachdeva reports.
Former MP Peter Dunne asks why the Foreign Minister and Defence Minister have chosen to provoke China and Russia in their latest Defence Review. He sees it as a spurious, vainglorious and risky move for a small trading nation.
New Zealand is likely to miss a key milestone in its Smokefree 2025 target, a new Ministry of Health report has revealed. Thomas Coughlan reports.
Funds from the sale of Hawkins Construction to Downer EDI were recycled back into the leftover businesses to settle a claim on a major project, wind down the remaining projects, and prepare for a growing number of legal disputes, the receiver says. Paul McBeth reports on company wind-ups after quake rebuild and leaky building claims that means almost 1,000 contractors are owed about $44 million.
The Financial Markets Authority may take regulatory action against three financial services firms after its latest probe into replacement life insurance. BusinessDesk's Paul McBeth reports.
New Zealand's banking minnows loaned more aggressively in the first three months of the year, a period advisory firm KPMG noted as showing a deterioration in asset quality which contributed to smaller sector profit. Paul McBeth from BusinessDesk reports.
Amid all the geo-political drama and awfulness, this made me smile...
Here are my pick of the links to news on the political economy from other news sites on Thursday.
Fletcher Building shares have gained about 14 percent since Kingfish took a 3.1 percent stake and the listed investment firm's manager remains upbeat on the stock.
Z Energy, the country’s biggest fuel retailer, has cut full-year earnings guidance by $30 million due to an extended shutdown at the Marsden Point oil refinery and high crude prices in the June quarter.
The New Zealand dollar fell from a week-high after Federal Reserve chair Jerome Powell told legislators the central bank will continue to raise interest rates gradually with the world's biggest economy in good shape.
Dairy product prices fell at the Global Dairy Trade auction, as slides in rennet casein and butter outweighed a surprise gain in whole milk powder.
Trustpower plans further automation in order to lower costs and improve services in the hotly contested power and broadband markets it operates in.
Acting Prime Minister Winston Peters says Donald Trump’s latest comments about Russia are “horribly confusing”. But Peters himself appears to be confusing matters regarding allegations of Russian interference in US politics, as Sam Sachdeva writes.
Annual inflation continues to run low, suggesting there’s still some capacity in the economy that will help the Reserve Bank keep interest rates at record lows well into next year, writes Thomas Coughlan.
The Labour Party came into office promising great things for public broadcasting, for radio, television and new media. So far, the signs are they aren’t going to deliver. Part of the problem, according to Dr Bryce Edwards of Victoria University, is that the debate often centres around technology, such as formats, rather than how public good media should be funded and produced.
An array of environmental groups has written to the Government, asking it to immediately put a halt to mining exploration inside a marine sanctuary for endangered Maui dolphins. Sam Sachdeva reports.
Local Government Minister Nanaia Mahuta has addressed the annual gathering of mayors and councillors, calling for improvements in water quality, but shying away from full council amalgamations, as David Williams reports.
The Electricity Authority has appointed one of the government’s senior energy policy advisors as its new chief executive. Gavin Evans reports for BusinessDesk.
The Russian operative charged with trying to form relationships with people high up in US politics, Mariia Butina, was pictured in this photo of a meeting between Russian officials and Donald Trump.
Here are my pick of the links to news on the political economy from other news sites on Wednesday.
New Zealand Refining has reported negative margins for the first time in five years after a major maintenance shut had to be extended last month.
New Zealand second-quarter inflation was slightly lower than economists had expected but in line with central bank forecasts as housing-related prices continue to push higher.
Annual inflation is still running low at 1.5 percent, according to CPI data released by Statistics NZ this morning.
New Zealand house sales fell 1.6 percent in June from a year earlier as a cooling in activity followed the onset of winter was limited to what's considered affordable housing, pushing out the time to sell and sapping the number of available listings, says the Real Estate Insitute.
Z Energy has more than doubled its investment in Mevo, the Wellington-based electric car-sharing firm, with The Wellington Company and European Motor Distributors also investing.
The New Zealand dollar was little changed ahead of local inflation figures, which will firm up views on whether the Reserve Bank has scope to cut the official cash rate any further, and as Federal Reserve chair Jerome Powell prepares semi-annual testimony.
Two groups charged by the last government with finding a solution to the freshwater management problem have been put on pause as the Labour-led coalition forges its own way ahead. Sam Sachdeva spoke to the groups’ chairs about their work, and the challenges in finding a way to resolve freshwater issues.
Weak levels of inflation expected to be revealed in new data are an indication of missed economic growth, an economist says. Thomas Coughlan reports.
Delegat Group, New Zealand’s largest listed winemaker, said its operating net profit in the year to June lifted 17 percent to a record $44.9 million, underpinned by record global case sales, lower cost of sales per case, higher yielding 2016 and 2017 vintages and lower financing costs.
The architect of a bill designed to impose mandatory country of origin labelling on food says he's disappointed with how the bill has been "gutted" by the select committee considering it. BusinessDesk Sophie Boot reports.
Fletcher Building has picked up KiwiRail chief executive Peter Reidy to head the company's construction division, which oversees the problematic Buildings + Interiors unit.
New Zealand's services sector activity, which accounts for about two-thirds of the economy, slowed to its smallest expansion in June since December 2012, according to the BNZ-BusinessNZ performance of services index (PSI). BusinessDesk's Rebecca Howard reports.
In the political economy in the week ahead:
The New Zealand dollar fell ahead of second-quarter inflation figures tomorrow that are expected to confirm price pressures remain tepid, keeping interest rates low for now.
GCSB Intercepts was busy overnight interpreting body language.
Here are my pick of the links to news on the political economy from other news sites on Tuesday.
Councils want the power to collect or receive GST and income taxes so they can pay for expensive infrastructure needed for population and tourism growth. Bernard Hickey argues they would need to improve their governance and accountability first.
New Zealand's online retailers are doing surprisingly well against global gorillas such as Amazon. Newsroom technology columnist Richard MacManus finds local distribution centres and the rise of online grocery sales are helping.