24 Mar 2015

Business Briefs

1:42 pm on 24 March 2015

A round-up from Radio New Zealand's business reporters - Including the Commerce Commission allows Wilson Parking to buy up Tournament.

Commerce Commission okays Wilson's purchase

The Commerce Commission said it's taking no further action after investigating Wilson Parking's purchase of rival Tournament's parking assets.

The commission said Wilson's purchase did not substantially reduce competition in certain areas.

Electricity Authority eases new retailer entry

The Electricity Authority has launched an initiative it says will make it easier for new retailers to enter the market.

The regulator said the changes would improve competition by reducing the amount of capital that retailers need to hold in reserve to meet prudential requirements.

It said small and medium-sized retailers would be able to compete for more customers with the same amount of capital they have now.

OECD role for Reserve Bank deputy

The Reserve Bank deputy governor, Grant Spencer, has been appointed chair of the Organisation for Economic Co-operation and Development (OECD) committee on financial markets.

The committee's agenda focuses on trends and prospects in the international and major domestic financial markets, and structural issues and developments in financial markets and the financial sector.