Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. New Zealand faces economic crunch in late 2024 The full force of monetary policy has yet to be felt in the New Zealand economy and will arrive alongside a pull-back in public spending later this year. Fruit and vege prices drop to lowest in years Fresh fruit and vegetables… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Budget 2024: Business wants tax relief, less red tape and support for upskilling Business wants to see this year’s Budget focus on tax relief, reducing red tape and support for upskilling, according to a new poll. Unemployment pegged to rise to 5% by year’s end Unemployment is set to rise to… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Interest rate cuts might have to wait until 2025 Inflation is not falling as quickly as economists expected, with one high-profile consultancy picking the next interest rate cut might not come until 2025. Alliance asks farmers to help raise share capital in bid to stay farmer-owned Red meat cooperative… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Vendor financing of business sales skyrockets The increased number of vendor financed-business sales over the past year are a sign of the times, says the managing director of business brokerage ABC Business Sales. Vendor financing has helped close the deal in one out of 10 business sales over the past year, compared… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. What is happening with the NZ housing market this week? Policy changes, a steady OCR rate, low construction costs, and the high cost of home ownership are all impacting the housing market. Here’s what moved real estate this week. IRD to target 40,000 businesses over taxes Inland Revenue is… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Final changes to ACC’s Accredited Employers Programme confirmed Changes to ACC’s Accredited Employers Programme (AEP) aim to deliver a better experience for businesses and workers whose work injury claims are handled by the organisation directly, rather than through ACC. Property market remains resilient amid economic headwinds New listings are… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. How April 1 changes to minimum wage, benefits and superannuation could affect you As Kiwis struggle with the cost of living, a variety of cash boosts and tax changes are coming into effect on April 1 that could provide a helping hand – or further sting your back pocket.… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. ASB’s latest Regional Scoreboard: Winners and losers There are a number of big rises and falls in ASB’s latest Regional Scoreboard, which ranks economic performance by measures including employment, confidence, retail sales and building consents. Maritime Union says Government investigation into fuel security and refinery a good idea The… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Fruit and vege prices fall 9 per cent in last year as food price inflation continues to ease Fruit and vege prices have fallen 9.3 per cent in the past 12 months driven down by tomatoes, broccoli, and lettuce, new Stats NZ data shows. Overall food price inflation was… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Mortgage tax deductions to be restored from April Landlords will once again be able to claim tax deductions for interest on residential investment property from the start of next month, David Seymour says. New tourism data shows continued recovery The latest International Visitor Survey (IVS) data shows international tourism… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. What’s going on with interest rates? Why is the Reserve Bank keeping the OCR at its highest level since the global financial crisis of 2007/8? And when can we expect it – and mortgage interest rates – to drop? Economist Bernard Hickey answered these questions and more. Open ocean… Read more
Welcome to our Weekly Digest – stay in the know with recent news updates relevant to business and the economy. What you need to know about likely mortgage rule changes New Zealand’s central bank is expected to tighten mortgage lending rules due to rising house prices and increased borrowing. The bank may reintroduce loan-to-value ratio (LVR) restrictions, which were removed in 2020. The move aims to curb excessive lending and… Read more
Getting caught up on a week that got away? Here’s your Weekly Digest of some stories relevant to business and the economy. Contact Energy announces $153m half-year profit Contact Energy has reported a strong first-half net profit and is making progress on its renewable energy developments. The large diversified energy company said the result reflected a strong underlying performance on pricing and its strategic plan, which set it up for… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. NZ beef and lamb exporters hope for New Year boost in China Companies are hopeful Chinese shoppers will buy New Zealand red meat this Chinese New Year. Meat processor Alliance is busy pushing New Zealand lamb, beef and venison into China – just in time for Chinese New Year… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Paul Conway maintains Reserve Bank’s hawkish stance, countering talk of OCR cuts The Reserve Bank (RBNZ) is continuing to push back against financial markets, which are betting on the central bank cutting the official cash rate (OCR) this year. RBNZ chief economist Paul Conway said “Recent economic data suggest… Read more
Getting caught up on a week that got away? Here’s your weekly digest of some stories relevant to business and the economy. Inflation, tax and interest rates: Economists share 2024 predictions Inflation, job insecurity and interest rates that have gone through the roof have been plaguing New Zealanders over the last few years, but could 2024 finally bring some respite? Kiwibank senior economist Mary Jo Vergara and Infometrics chief forecaster Gareth Kiernan… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Less businesses expecting economic deterioration There are signs business confidence is on the rise, in the latest New Zealand Institute of Economic Research quarterly survey. Food prices fall for fourth month in a row – Stats NZ Food prices are 4.8% higher than a year ago but were cheaper… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Small business law change round-up A new government means some changes to laws. MBIE summarises some of the important updates for small businesses. Influx of international visitors’ boosts New Zealand tourism industry With sunny days forecast and plenty of customers ready and willing to book, tourism businesses say summer… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Is 2024 the year our inflation problem goes away? Inflation is likely to ease through 2024 but will probably remain a headache, economists say. The rising cost of living has been a theme of recent years, as inflation hit levels not seen in three decades. Data out this month is… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Economy shrinks 0.3 percent in three months ended September The economy shrank in the third quarter as households spent less, exports fell, and manufacturing activity decreased. Stats NZ data showed seasonally adjusted gross domestic product (GDP) fell 0.3 percent in the three months ended September, compared to expectations of… Read more