House Speaker John Boehner was rewriting his plan to cut federal spending and raise the debt ceiling yesterday, after the Congressional Budget Office revealed that his Bill would not cut as much spending as he had promised it would.
The economic downturn has led to the closure of an Alexandra restaurant for the winter.
The Forsyth Barr Stadium loomed large in Dunedin's building activity figures last year, with the project pushing up the value of building consents for the year by $116 million.
The latest Crown accounts show the impact of the recession will be felt for some time, Finance Minister Bill English says.
Up to four jobs could be lost at Dunedin exporter Farra Engineering following cancellation of a $1.8 million contract and the "recession in general", according to chief executive John Whitaker.
The pick-up in population growth continues to fuel demand for housing, just as it has done for the past six months, ASB economist Jane Turner says.
The severe toll the recent recession took on New Zealand's labour market was confirmed yesterday when figures released showed that the country's unemployment level reached 6.5% in September.
The Waitaki District Council has defended a substantial increase in its building-consent fees, despite a concern it could hinder development during the economic recession.
Early indications of an economic recovery might not be as strong as many people hope, Treasury said today.
Signs the economy may have stopped shrinking do not signal the end of hard times, Finance Minister Bill English said today.
Positive economic indicators yesterday renew confidence the country could be coming out of recession, with the South leading the way.
After 18 months of local recession and almost a year of global economic turmoil many commentators and analysts are now suggesting we are on the road to recovery.
Port Otago management has warned jobs could go following the loss of 10%-15% of its container traffic due to Fonterra consolidating its port usage.
Paying off a mortgage and/or any debt should be a priority for anyone inheriting money during the current recession, a panel of experts selected by the Otago Daily Times recommends.
If money is tight, spending on fashion and beauty is one of the first things to go.
The recession is likely to continue until at least September but New Zealand is tipped to come out of the global downturn first and in much better shape than many of the other affected OECD countries.
The current world economic crisis has caused a massive destruction of wealth and there was barely an investor who was immune.
The business sector has welcomed Prime Minister John Key's "relevant and timely" framework for economic recovery.
New Zealand entered the recession with families already in poverty and the economic conditions have only made things worse - leaving over 200,000 children living in benefit dependent households, a new report shows.
As the recession bites there are calls for welfare rules to be rewritten as more people are refused the unemployment benefit based on the income of partners.
