Otago employees least optimistic, but future appears brighter
Otago employees least optimistic, but future appears brighter
Otago employees are the least optimistic in the country, according to the Westpac McDermott Miller index released yesterday.
Dene Mackenzie
March external surplus first since 2003
March external surplus first since 2003
Good economic data continues to flow into the marketplace, calling into question the Government's continuing cautiousness about the strength of the economic recovery.
Optimism for sustainable NZ economy recovery
Optimism for sustainable NZ economy recovery
Forecasters are optimistic the economic recovery is sustainable, a survey shows.
Ryman shares sell in a snap
Ryman shares sell in a snap
About 24 million Ryman Healthcare shares were snapped up yesterday morning when an overseas institutional holder decided to sell out of the listed aged-care provider.
IRD 'alert' leaves questions unanswered
IRD 'alert' leaves questions unanswered
The Inland Revenue Department has issued its interpretation of a recent Court of Appeal taxation decision which tax practitioners yesterday said left many questions unanswered.
Foodstuffs through recession in better shape
Foodstuffs through recession in better shape
The 15-month recession helped make grocery group Foodstuffs (SI) more resilient and wiser, chairman Robin Brown said yesterday.
Fourth quarter of growth good news
Fourth quarter of growth good news
Good economic news is expected this week with economic activity expected to have shown growth for the fourth consecutive quarter and the current account deficit narrowing in the year to March.
Amendments raise consumer protection fears
Amendments raise consumer protection fears
If recent proposed changes to the financial advisers regime are adopted they are likely to result in consumers being left without the protection anticipated by the legislation designed to protect them. Business editor Dene Mackenzie talks to two men closely involved in interpreting the legislation.
Bank 'deposit war' forecast
Bank 'deposit war' forecast
A "deposit war" looked set to break out among New Zealand's retail banks as they competed for investors with money to place in term deposits, Craigs Investment Partners broker Chris Timms said yesterday.
Confident SBS looking for mergers
Confident SBS looking for mergers
SBS Bank defied economic conditions to yesterday report an improved operating profit for the year ended March.
Positive credit data needs care
Positive credit data needs care
Including positive data on credit reports was a positive move for consumers but only if the data was passed on with the consent of the consumer, New Zealand Credit Finance Institute president David Young said yesterday.
Rise in Vector shares 'overreaction' to tax news
Rise in Vector shares 'overreaction' to tax news
The sharp rise in Vector's share price was an overreaction to tax news put out by the energy distribution and fibre optic network company, Forsyth Barr broker Peter Young said yesterday.
Tough choice for Dorchester debenture holders
Tough choice for Dorchester debenture holders
Dorchester Pacific debenture holders face a hard choice this month.
Less confidence seen in recovery
Less confidence seen in recovery
Confidence in the economic recovery seems to be slipping, a survey shows.
Weather dampens service sector
Weather dampens service sector
Wild weather during May helped dampen service sector activity in the month, even though the sector experienced its seventh consecutive month of expansion.
Allied Farmers faces write-downs
Allied Farmers faces write-downs
Allied Farmers expects further write-downs in the value of its assets of its own Allied Nationwide Finance company, suggesting that this time some of the impaired assets are its own.
Change of behaviour urged
Change of behaviour urged
New Zealand households are being urged to improve the quantity and quality of their savings to help the rebalancing of the economy, particularly away from external debt.
Hodgson exits politics on 'own terms'
Hodgson exits politics on 'own terms'
Pete Hodgson, one of Dunedin's longest-serving MPs announced yesterday he will retire from politics at the next election.
Reserve Bank hike will hurt borrowers
Reserve Bank hike will hurt borrowers
Borrowers are the major losers from the Reserve Bank decision last week to lift the official cash rate by 0.25% to 2.75%.
Dip in property dividends expected
Dip in property dividends expected
The 2010 Budget confirmed several tax changes for the property sector that were centred on the removal of tax depreciation on buildings. There were some minor positive offsets with the PIE tax rate falling from 30% to 28%. Business editor Dene Mackenzie considers the implications for the New Zealand listed property sector.