New Zealand Defence Minister Ron Mark says he's unconcerned about how China will react to criticism of its track record on human rights and freedom of information in the government's Strategic Defence Policy Statement presented today.
There is a new broom at the head of New Zealand's central bank, and he's planning to shift the mindset of the institution towards better embracing the rich cultural diversity of the country.
Broking firm First NZ Capital began coverage of Seeka, New Zealand's top grower of kiwifruit, with a ‘neutral’ recommendation, as a positive earnings outlook offsets key risks including the company’s high debt, horticultural factors such as weather, pests and disease as well as performance by the nation's sole kiwifruit exporter Zespri Group and access to key export markets.
Shares of Precinct Properties New Zealand earned an upgrade from Morningstar following the commercial property investor’s deal, announced last week, to sell 50 percent of the ANZ Centre in Auckland’s central business district for $181 million.
Businesses' confidence about their 'own activity', as opposed to the wider economy, fell to a five year low. Construction sector confidence crashed. It's time the Government and the Reserve Bank looked at stimulating the economy to fix our infrastructure deficits, lift inflation and keep unemployment falling. Phil Twyford set the upper threshold for couples bidding for KiwiBuild homes at $180,000, which sparked outrage but was needed to ensure enough demand for the 100,000 homes. It highlighted how unaffordable the $650,000 cost of KiwiBuild homes in Auckland has become, and why land price falls are needed to improve affordability. Dame Margaret Bazley's report into sexual assaults and bullying at Russell McVeagh revealed a toxic culture for women. The IMF encouraged the Government to use its balance sheet to fix infrastructure deficits. Donald Trump is set to ramp up his trade rhetoric in meetings with Nato, the Queen and Vladimir Putin over the next 10 days.
The New Zealand dollar rose to its highest level in more than a week against the greenback after minutes from the latest Federal Reserve policy meeting showed policymakers are upbeat about the US economy but concerned about the potential impact of a trade war.
A proposal to make Matariki a national holiday has gone to Labour’s Maori Caucus.
A sensitive case file that was misplaced at a Night and Day convenience store left a woman “understandably upset” after it was sent to the man she was locked in a dispute with. Shane Cowlishaw reports.
Air New Zealand has taken aim at New Zealand’s airports, accusing them of behaving like monopolists. Thomas Couglan reports.
John Campbell is moving to TVNZ, Spark appointed a new marketing director, Beingmate found a MD to Fonterra's relief, A2 Milk appointed the CEO of Jetstar as its new CEO, TSB appointed a new CEO after a very long search, the Greens found a new strategy director and Chris Hipkins moved put a commissioner into Unitec.
Here's a few longer reads on economic, political and social issues for the weekend.
Everyone on and around the Wellington waterfront on Thursday morning was all agog with the one whale display in the harbour.
Here are my pick of the links to news on the political economy from other news sites on Friday.
The New Zealand dollar stuck to a very tight range against the greenback in Asian trading as markets await key events in the US for direction.
Unexpectedly weak prices for whole and skim milk powder at this week's Global Dairy Trade auction have seen market participants pile into a record volume of dairy derivatives on the NZX, with most of the jump in options to buy or sell the products.
Air New Zealand has slammed the "ravages of airport pricing behaviour" in New Zealand in support of changes to the Commerce Act it says would help curb airport owners' charging and cut air travel costs for passengers.
Global risks coupled with domestic forces are weighing on the New Zealand dollar and Bank of New Zealand says its fair value estimate of 70 US cents faces downside risks that could push it even lower.
A damning review into Russell McVeagh’s handling of allegations of sexual harassment and assault has described a “work hard, play hard culture” at the law firm that involved sexually inappropriate behaviour.
A senior female partner at Russell McVeagh says the law firm has undergone plenty of soul searching in the wake of its mishandling of sexual harassment complaints, but warned there is no “five-minute fix”.
New Zealand farmer confidence slid in the past quarter amid concern about the impact of Mycoplasma bovis cattle disease on the country’s agricultural sector, with the number of farmers expecting conditions to improve now only just outweighing those expecting them to worsen, according to the latest Rabobank rural confidence survey.
The Court of Appeal has rejected Kim Dotcom and his co-accused's efforts to avoid extradition to the US and says not only do the charges qualify, but unlawful spying and other misconduct are an issue for the actual trial in Virginia.
The New Zealand Superannuation Fund's manager said the UK Supreme Court has rejected its attempts to pursue a debt recovery claim, made with others, against Portugal's Novo Banco in the UK, in part because the liability claim is not recognised in Portugal.
The New Zealand government's operating surplus was 9 percent above forecast in the 11 months to the end of May but higher-than-expected Crown entity insurance claim costs offset some of the gains.
A2 Milk Co's new managing director and chief executive Jayne Hrdlicka will start on July 16, replacing Geoff Babidge who had been in the role since 2010.
Talkback lines and social media ran hot with outrage over the $180,000 income threshold for KiwiBuild buyers, but the Government needed it to be that high to avoid dumping houses into the market and driving down prices. Nearly 6,000 buyers applied for the KiwiBuild ballot on the first day, which would soak up three years of production. Dame Margaret Bazley’s review of the Russell McVeagh's sexual assault cases exposed by Newsroom will be released later today.
The New Zealand dollar was little changed in subdued trading in the face of the July 4 Independence Day holiday in the US ahead of the release of the Federal Reserve minutes and US employment figures.
Seven out of 10 Kiwi businesses want New Zealand to take action on limiting greenhouse gas emissions, though there’s less agreement on the way to achieve it, a survey of more than 1,200 business leaders commissioned by Westpac Banking Corp showed.
Strong Governments have strong enforcers and Labour lacks one right now, former MP Peter Dunne points out in this week's column arguing Grant Robertson should step up.
Labour unveils a plan allowing couples earning up to $180,000/year to bid for houses costing $650,000. Phil Twyford describes KiwiBuild as "a middle-class aspirational home-ownership policy". Thomas Coughlan reports.
The New Zealand military officer who called the new Timor-Leste prime minister a “puppet” in an email has been sent home from his posting in the country.
The New Zealand dollar shrugged off a weak dairy auction and pushed higher against the greenback as investors pared back slightly on their expectations that the kiwi might continue to fall.
New Zealand's Local Government Funding Agency, which sells bonds on behalf of local authorities, isn't expected to lose its sovereign-equalling credit rating as a result of Standard & Poor's new rating methodology for public sector funders, investors say.
TSB Bank has hired the former head of Warehouse Group's short-lived financial services unit Donna Cooper as its new chief executive, replacing long-serving Kevin Murphy who departed at the start of the year.
Storm clouds may be gathering for the upcoming corporate earnings season as business confidence hits a seven-year low and almost a third of companies said profits shrank in the June quarter.
New Zealand commodity prices fell in June, weighed by whole milk powder and beef prices but while the shine has come off New Zealand's goods terms of trade recently, they remain elevated by historical standards, said ANZ Bank New Zealand.
New Zealand's government has a strong enough balance sheet to close the nation's infrastructure deficit sooner, which the International Monetary Fund says would generate long-term economic gains. Paul McBeth from BusinessDesk reports.
A number of Pizza Hut stores were profiled by the Government after intelligence information indicated breaches of immigration and employment laws at the premises. Teuila Fuatai reports.
This guy wearing American flag shorts does something that feels a lot like America right now.
Here are my pick of the links to news on the political economy from other news sites on Thursday.
Auckland's residential property market slowed in June, with fewer new listings and a slip in the median price, according to the city's largest realtor.
The number of trades on the NZX continued to rise in June but the values fell as investors were jittery about the prospect of a global trade war.
KiwiBuild home buyers will be required to live in their properties for at least three years and have an income cap of $180,000, according to criteria released today.
The New Zealand dollar rose from its lowest levels in more than two years ahead of the July 4 Independence Day Holiday in the US, amid ongoing trade squabbles between the US and China and comments from China that it aims for stability in the yuan.
Actual business confidence fell to a five year low in the June quarter, while house values also fell. Phil Twyford opened registrations of interest for first home buyers interested in Kiwibuild. He set the upper income threshold for couples at $180,000 and said buyers could sell after three years, which was two years earlier than Labour promised before the election.
New Zealand house values fell in June in a slower market that Quotable Value says reflects restrictions placed on buyers by the central bank and government.
Dairy product prices declined at the Global Dairy Trade auction, led by a larger-than-expected drop in whole milk powder, after Fonterra said an increase in its May production lifted its expectations for the season’s milk collections.
Business confidence fell to a five year low as winter began and it wasn't just because managers were politically biased. Bernard Hickey argues it's time the Government reacted to this cooling with a debt-funded construction stimulus and interest rate cuts.
Debates about transgender rights are gaining prominence and moving into the mainstream. Dr Bryce Edwards of Victoria University explains how transgender political struggles not only forms part of the evolving “culture wars” in New Zealand politics, but reflect the complexity of contemporary politics, containing some surprising dynamics.
The New Zealand dollar dipped back below 67 US cents after a dismal business confidence survey and eased against the Australian dollar after the Reserve Bank of Australia held rates at a record low 1.5 percent across the Tasman.
With school buildings crumbling around students and teachers, the Government is suggesting it may be time to take away the responsibility of maintaining them from school boards. But will more ministry oversight be a good thing? Shane Cowlishaw reports.
Phil Twyford has clarified that he remains on the fence about whether to impose a toll road on Transmission Gully.
The Security Intelligence Service has investigated a Chinese national studying for a PhD in electronic engineering at an Auckland university over concerns his work could be used for sensitive military purposes. Sam Sachdeva and Teuila Fuatai report.
Newsroom's Sam Sacdeva (taking the selfie), Interest.co.nz's Jason Walls (right), RNZ's Gia Carrick and AAP's Boris Jancic got stuck in a Parliamentary lift for an uncomfortable 15 minutes yesterday. They aren't happy, although Jason is putting on a good face. That's one way to slow down the news cycle.
Here are my pick of the links to news on the political economy from other news sites on Wednesday.
Conservation Minister Eugenie Sage says she won't review law that was held to prevent her department from ceding conservation land in a swap deal, thwarting the Ruataniwha Water Storage Scheme last year.
The Greens have made the first of two key back room appointments, hiring Pete Huggins as communications and strategy director.
Amy Adams has responded to NZIER’s Quarterly Survey of Business Opinion (QSBO) calling Finance Minister Grant Robertson “contemptuous” of anyone who criticises the economy.
A former top US diplomat foresees global trade tensions escalating this week as US President Donald Trump imposes the first of many threatened tariffs on China.
Shares of Chorus are overvalued because the telecommunications network operator’s overall connections continue to decline, Morningstar analyst Brian Han wrote in a bearish note.
New Zealand Post, the national postal service first established in 1840, is undergoing the biggest upheaval in its history as technological change reduces letter volumes and stokes demand for parcel services, which are often more expensive to manage.
New Zealand business confidence hit a seven-year low in June as cost pressures weigh on profitability and the downbeat sentiment is beginning to impact on future planning.
The New Zealand Institute of Economic Research's (NZIER) closely-watched survey of business opinion found confidence about firms' 'own activity' fell to a five year low in the June quarter, suggesting a moderation of economic growth towards two percent from three percent in mid to late 2018.
Dairy marketer A2 Milk and milk processor Synlait Milk have agreed to extend their infant formula supply deal and increase the volume of formula Synlait will supply as the two continue to focus on sales in the lucrative Chinese market.
New car sales dropped in June, as demand for commercial and passenger cars slid from the hot pace of the same period a year earlier amid slowing economic growth, a weakening currency and rising fuel prices, though the month still recorded the second-best June ever.
The New Zealand dollar fell to a two-year low on escalating global trade tensions and signs of instability in Germany's coalition government that sapped risk sentiment and boosted demand for safe-haven currencies such as the yen.
Phil Twyford has angered Wellington residents by suggesting the new Transmission Gully motorway be tolled, something Labour did not flag before the election. NZIER's business confidence survey due out at 10 am will be closely watched by politicians and economists alike.
A New Zealand military officer has been suspended after calling the new Timor-Leste prime minister the “puppet” of a revolutionary hero and warning a military coup is possible. Sam Sachdeva reports with this exclusive.
Winston Peters says he believes the state should subsidise regional airports, which is in tune with his pre-election support for an industry proposal that the Government spend $32 million to upgrade 12 regional airports.
With Donald Trump indicating the US will not play a part in the fight against global warming, James Shaw is heading to the country he now expects to take up the leadership role. Shane Cowlishaw talks to the Climate Change Minister about how the role China may play
Voting on a new pay deal for nurses will begin on Tuesday and run until next Monday. The New Zealand Nurses Organisation has recommended to its members that they accept the deal.
This week in the political economy:
Sometimes a couple of gifs is all you need for a smile, especially when they're making fun of the World Cup and Neymar.
Here are my pick of the links to news on the political economy from other news sites on Tuesday.
Traders have bet US$1.2 billion that the kiwi dollar will fall against the greenback, adding to the risk of a corrective rebound even though US interest rates are unusually higher than those in New Zealand.
The New Zealand dollar held gains against the greenback but stuck to a tight range ahead of a slew of events this week, including a raft of tariffs kicking in and key US data, such as the non-farm payrolls.
The Mexican peso strengthened across the board in Asian trading after Mexican exit polls showed left-wing leader Andres Manuel Lopez Obrador winning Sunday’s presidential vote.
Foodstuffs South Island, part of the group of two cooperatives that constitute New Zealand's biggest supermarket operator, aims to drive down its costs amid a slowing economy, using data of its shoppers’ needs gathered through loyalty programmes to earn more business by tailoring its offers.
Fonterra Cooperative Group says it welcomes the appointment of Bao Xiufei as general manager of Beingmate Baby & Child Food.
Steel & Tube Holdings said it has obtained a waiver from its banks after writedowns and impairments put it in breach of at least one lending covenant.
Spark New Zealand, the country's biggest telecommunications company, said it appointed Melissa Anastasiou to its so-called leadership squad, effective immediately, while it also hired Matt Bain, who starts as marketing director, a newly-created role, in November.
The New Zealand dollar rose from a two-year low after European Union leaders announced restrictions on migrants, boosting the euro and weighing on the greenback.
The government is proposing changes to tax law including automatic tax refunds, new KiwiSaver contribution rates and allowing over 65-year-olds to join KiwiSaver, along with slashing the contributions holiday that KiwiSaver members can take.
Technology columnist Richard MacManus looks at how New Zealand companies are using facial recognition and biometric data. He warns there are real bias and privacy dangers that shouldn’t be ignored.
The Government’s $5.5 billion package of spending on families, pensioners and new mums kicks in from today. Thomas Coughlan explains how it works, and its quirks, even for new mum Jacinda Ardern.
As a senior diplomat under Barack Obama, Kurt Campbell helped shape the US relationship with China. Now he says the American view of the Asian superpower needs a fundamental rethink. Campbell spoke to Sam Sachdeva about China’s role in the international system, Donald Trump’s approach to foreign policy, and New Zealand’s position on the world stage. *
New Zealand must strengthen its voice in the Asia-Pacific as the country faces an “inflection point” in its history, Foreign Affairs Minister Winston Peters says. Sam Sachdeva reports.
The New Zealand Nurses Organisation has lifted its strike notice for July 5 after a revised offer from DHBs. Thomas Coughlan reports.
Here's some A class World Cup trolling from a twitter account calling itself Falkland Islands.
Here are my pick of the links to news on the political economy from other news sites on Monday.