News
Public-private partnerships needed to fix $5 trillion 'infrastructure gap'
The private and public sector will need to work in partnership (PPPs) to meet the estimated $5 trillion of infrastructure required for New Zealand and its four regional partners over the next few…
Unemployment rises to 3.9% - up from 3.6%
The Reserve Bank is expected to react positively to the latest labour market data, with employment growth weaker than expected.
NZX's bear market status blamed on lack of AI stocks
The NZX opened on Tuesday at 10,742 points, compared with its peak of 13,644 on 8 January 2021.
Online grocer Supie in voluntary administration, with $3m in debt
The voluntary administrator says the company, which employed 120 people, has run out of cash.
Ongoing wage pressures could result in lift to OCR - economists
Third quarter labour market data is expected to show ongoing wage pressures, increasing the risk of another hike in the Reserve Bank's official cash rate.
Renewables targets likely to be missed without funding, market reforms - report
A new report suggests unrealistic targets and uncertainties will make it difficult to meet 2030s renewable energy targets.
'BGC's allegations are unfounded' - Fletcher Building boss on leaking pipe claims
Fletcher Building is defending itself against claims made by a Western Australian building company about leaking pipes, installed between 2017 and 2022, and affecting about 12,000 homes.
Construction costs continue to ease as home consents fall
Master Builders says building costs are coming down but are unlikely to make a material difference to the price of a new house.
Fletcher Building withdraws resolution asking for fee increase for board
The board of Fletcher Building has withdrawn a resolution asking for an increase in its directors' fee pool in the face of shareholder pressure.
Shareholders to vote over sale of nine bars and restaurants
Pub and restaurant owner Good Spirits Hospitality is asking shareholders to approve the sale of its assets, to head off legal action by creditors.
Morningstar: Quality stocks undervalued but further downside risk in market
The equity research firm said stocks had retained their value amid market volatility, high inflation and interest rates but further downside risk remained.
Biotech industry calls for government to make regulatory reforms
The biotech industry says the next government must give the sector some urgent attention with a focus on regulatory reform to make up for lost ground.
Election outcome unlikely to change economy greatly in short term - economist
The tax and spending plans of Labour and National are unlikely to change the economic direction of the country in the short-term, an economist says.
High interest rates, inflation driving down commercial property investments
Commercial property investment has been hit by high inflation and interest rates thereby leaving institutional investors on the sidelines for the first half of 2023.
Promise to help new supermarkets enter NZ not favoured by smaller retailer
Labour says it will do more to help new players enter the grocery market, but one of the mid-size existing players thinks the idea is too expensive and unlikely to succeed.
Retailers see clouds on the horizon as consumers exercise caution
Listed retailers have reported profitable results over the latest reporting season, but the outlook is for tough times ahead.
Southern Cross health insurance premiums to rise
Southern Cross Health Society says it will be increasing the price of health insurance, amid rising costs, increased claims and a need to increase its capital reserves.
Warehouse accuses Sanitarium of cutting off its Weet-Bix supply
The Commerce Commission said the allegations were "extremely concerning".
Potential new lending limits may dampen housing market activity
The introduction of debt-to-income caps on mortgage lending could make short-order of a pick-up in the housing market.
Business NZ expects economy will come under increasing pressure
BusinessNZ says companies are coming back from historically low levels of business confidence and there's still a long way to go.
Banking services study reveals negative opinions on state of sector
The Commerce Commission's market study into personal banking services has unleashed a torrent of negative feedback on the current state of sector competition.
Rising oil prices put pressure on cost of petrol and air travel
Rising oil prices and a weak New Zealand dollar are putting pressure on petrol prices, with air fares affected as well.
Strong labour market, controlling inflation the focus for NZ - top economist
Standard & Poor's global chief economist Paul Gruenwald said NZ's economy was in good shape but growth would continue to be soft given the mixed fortunes of the world's biggest economies.
Biometric industry warns that regulation may bring 'unintended consequences'
The biometric industry is asking the Privacy Commissioner to develop a code of practice that will not impose regulations that stifle innovation.