NZ finances sound but risks remain, Reserve Bank says
NZ finances sound but risks remain, Reserve Bank says
The Reserve Bank has given the New Zealand finance system a pass mark while warning some risks remain.
Dene Mackenzie
Infratil's lower profit no surprise
Infratil's lower profit no surprise
Infrastructure investor Infratil yesterday reported a lower profit for the year ended March, something forecast by broking firms, given TrustPower's difficult year and the partial sale of Z Energy.
MTF gears up for drop in demand
MTF gears up for drop in demand
Motor Trade Finances is preparing for higher interest rates and lower consumer demand by offering new products and outlets to meet expectations, managing director Angus Bradshaw says.
Greens propose bank to fund clean, renewable technology
Greens propose bank to fund clean, renewable technology
Increased oil mining royalty rates would be used to fund a ''green bank'' being proposed by the Green Party in a pre-Budget release yesterday. The bank would cost $120 million over the next three years.
Customers, storage up for Meridian
Customers, storage up for Meridian
Meridian Energy released improved figures with improved storage, and growing retail sales and customer connections over the previous financial year.
No 'lolly scramble' in Budget, Key says
No 'lolly scramble' in Budget, Key says
Prime Minister John Key is ruling out ''election bribes'' either in the Budget next month or in the election campaign, saying anything more than a modest increase in spending means higher interest rates.
Govt help to exporters gets a boost
Govt help to exporters gets a boost
The geographic spread of the extra spending allocated to New Zealand Trade and Enterprise by the Government was welcomed yesterday by ExportNZ executive director Catherine Beard.
English promises jam in the future
English promises jam in the future
Finance Minister Bill English is promising ''jam tomorrow'' for wage earners, as long as the Government is re-elected on September 20.
Beneficiaries targeted for Chch work
Beneficiaries targeted for Chch work
Prime Minister John Key used a pre-Budget speech yesterday as another vote-buying exercise in Christchurch, promising $3.5 million to attract about 1000 beneficiaries to move to the city for work.
Surplus still eludes English
Surplus still eludes English
Tax receipts are still hindering Finance Minister Bill English's quest to return the Government accounts to surplus, although he again issued an assurance yesterday a small surplus was on the way next year.
Budget puts paid to election promises
Budget puts paid to election promises
The Australian Budget tomorrow night is being touted as a defining moment for Prime Minister Tony Abbott, who is being accused of breaking an election promise of no new taxes.
Hospitality and consumables drive card spending
Hospitality and consumables drive card spending
New Zealand retail spending on credit and debit cards rose in April, as gains in hospitality and consumables offset falling apparel purchases, which reflected warmer than normal April weather.
IRD may move on cheque payment
IRD may move on cheque payment
People paying tax by cheque will need to be extra vigilant to avoid running foul of new rules proposed by Inland Revenue, Deloitte Dunedin associate tax director Phil Stevenson says.
TrustPower's profits just above expectations
TrustPower's profits just above expectations
Trustpower produced an annual profit for the 12 months ended March just better than expected and probably not good enough to see any material upgrade in broker forecasts.
Electoral doubt cause for caution
Electoral doubt cause for caution
Regardless of political allegiances, a cautious approach to election-sensitive sectors, and a well-diversified portfolio is needed to mitigate the range of possible election outcomes, Craigs Investment Partners broker Chris Timms says.
LVRs may go at year end
LVRs may go at year end
Floating mortgage rates could be between 7% and 8% in two years and the Reserve Bank's loan-to-value ratios are likely to remain until at least the end of the year.
Reserve Bank deputy governor Grant Spencer said in a speech yesterday pressures in the New Zealand housing market were easing gradually but risks remained.
BNZ latest to report profit rise
BNZ latest to report profit rise
BNZ was the latest of New Zealand's major overseas-owned banks to report its interim profit yesterday, continuing the trend of increased profits reported by both ANZ and Westpac.
Z profit of $212 million close to expectations
Z profit of $212 million close to expectations
Petrol retailer Z Energy provided a good first-up result as a listed company, continuing to demonstrate its ability to deliver on its promises, Forsyth Barr broker Suzanne Kinnaird said yesterday.
Warehouse Group sales improving
Warehouse Group sales improving
Red Shed sales continued to grind higher in the three months ended April as customer numbers and basket sizes improved, Craigs Investment Partners broker Chris Timms said yesterday.
Dunedin house listings low but values steady
Dunedin house listings low but values steady
Residential property values in Dunedin remained steady and demand continued to be ''fairly strong'' for the majority of properties on the market at present, QV Dunedin valuer Duncan Jack said yesterday.