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Economy

A2 Milk declares maiden dividend as profits surge on English label sales

Infant formula maker A2 Milk has declared its first-ever dividend of 8.5 cents per share after reporting a strong financial performance, driven by robust...

NZ struggles as cost of living crisis deepens, says Salvation Army

New Zealand is backsliding on social progress as food and housing become increasingly unaffordable, warns the Salvation Army in its latest State of the...

Unemployment to hit four-year high as job market slows

New Zealand’s unemployment rate is expected to reach 5.1% for the December quarter, marking a four-year high as the job market continues to feel...

NZ’s beer industry pours $3.58B into economy – report

New Zealand’s brewing industry is a powerhouse, contributing $3.58 billion to the nation’s GDP—nearly 1 percent—while generating $1.7 billion in tax revenue and supporting...

Bank of Japan raises interest rates to 17-year high amid accelerating inflation

The Bank of Japan (BOJ) has raised its short-term policy rate to "around 0.5 percent," the highest level in 17 years, following a December...

Luxon: ‘State of the Nation’ 2025

Full text of PM Christopher Luxon's State of the Nation speech, 2025. Ka nui te mihi kia koutou. Kia ora, good morning, talofa, malo e lelei,...

Euro falls to two-year low against dollar

Economic and political instability have battered the Eurozone. The euro has fallen to its weakest level against the US dollar in more than two years,...

Every bureaucrat destroys 138 jobs

An Auburn University study says every single regulator destroys fully 138 private sector jobs every year you keep him on the job. With nearly 300,000...

GDP decreases 1.0 percent in the September 2024 quarter

New Zealand’s gross domestic product (GDP) fell 1.0 percent in the September 2024 quarter, following a revised 1.1 percent decrease in the June 2024...

India’s economic growth slowdown is ‘temporary blip’ – New Delhi

Finance Minister Nirmala Sitharaman has said that healthy expansion is expected despite a decline in GDP to a seven-quarter low. Indian Finance Minister Nirmala Sitharaman...

Germany facing economic stagnation – central bank

GDP is forecast to decline by 0.2% this year, a sharp downgrade from Bundesbank’s previously projected 0.3% expansion. Germany’s central bank has slashed growth outlook...

Government’s financial results fall short of forecast

The government's financial results for the first three months of the fiscal year reveal a larger-than-expected deficit, prompting Finance Minister Nicola Willis to reinforce...

IMF highlights EU’s productivity struggles and moderate growth outlook

The European Union’s economy faces slow growth and widespread productivity issues, as noted in a recent report by the International Monetary Fund (IMF). According to...

Former senior staffer urges Reserve Bank to drop DEI board appointments

Geof Mortlock, a former senior economist at the Reserve Bank, has called for urgent reforms to the Reserve Bank's board and performance assessments in...

Inflation drops to 3-year low

New Zealand's inflation has slowed to its lowest level in three years, with the annual consumer price index (CPI) rising by 2.2% in the...

New policy aims to ensure affordable and secure electricity – Brown

The government has outlined its commitment to delivering affordable and secure electricity through the release of its Government Policy Statement (GPS) on electricity, Energy...

Reserve bank cuts cash rate as banks respond with lower lending rates

The Reserve Bank of New Zealand has cut the official cash rate (OCR) by 50 basis points to 4.75 percent, the lowest in 18...

Major infrastructure projects fast-tracked to boost economy and address deficits

The government has announced a sweeping fast-track approval process for 149 critical projects across various sectors, including transport, housing, and renewable energy. The Fast Track...

Winstone Pulp International closes

Winstone Pulp International, a major employer in the Ruapehu District for 45 years, has closed its doors for the final time. The mill provided hundreds...

Government’s Q4 Action Plan aims to accelerate infrastructure development – Luxon

Prime Minister Christopher Luxon has announced that the Government’s Quarter Four (Q4) Action Plan will focus on streamlining infrastructure development in New Zealand as...

Alliance Group proposes closure of Smithfield Meatworks in timaru

Alliance Group has proposed shutting down its 139-year-old Smithfield meatworks in Timaru, citing a significant drop in sheep processing numbers. The decision, which could result...

Treasury warns major financial challenges brewing

In a speech today, Treasury's deputy secretary and chief economic adviser, Dominick Stephens, highlighted the financial strain New Zealand faces due to an ageing...

Watch: ‘How can you sleep at night?’ – Aussie shopper confronts Woolworths CEO in supermarket aisle over ‘price-gouging’

A heated exchange occurred between a frustrated shopper and Woolworths’ new CEO, Amanda Bardwell, during her visit to a Wollongong store. The shopper accused the...

Fonterra’s profit tops $1 billion despite drop from last year’s record high

Dairy co-operative Fonterra reported a strong profit exceeding $1 billion for the year, though lower than last year's record due to easing tailwinds like...

NZ economy shrinks as retail, construction and agriculture struggle

New Zealand’s economy shrank by 0.2 percent in the second quarter of 2024, as key sectors like retail, construction, and agriculture saw significant declines,...

Petition launched to save Winstone pulp mill as communities fear decline

A petition has been started to save two Winstone International Pulp mills, the key employer in the Ruapehu District region, amid fears that local...

Reserve Bank cuts official cash rate by 25 basis points

The Reserve Bank of New Zealand (RBNZ) has reduced the official cash rate (OCR) by 25 basis points, marking the first cut in over...

You might own nothing sooner than you think

Imagine a world where ownership is a distant memory, replaced by an eerie semblance of joy in dispossession. In 2016, Klaus Schwab, the enigmatic architect...

Green light for ‘Welfare that Works’

A comprehensive package of reforms to the benefit system unveiled today will shift more people off Jobseeker Support into employment and introduce tougher consequences...

Will debt sink the American Empire?

So asks the Wall Street Journal, in an uncharacteristically gloomy article for the bull market’s paper of record. They kick off with the problem: America...

The RBNZ CBDC survey – an artifact constructed to deny dissent

I’ve just had a look through the Reserve Bank of New Zealand’s (RBNZ) online survey on ‘Digital Cash’ (their euphemism for central bank digital...

Censorship and the corruption of advertising

The most powerful companies in the world have united against free speech, and they’ve deployed your tax dollars to fund their mission. Last week, the...

Services sector faces record decline amid bleak economic conditions

New Zealand's services sector has experienced a significant downturn, with the BNZ-Business New Zealand Performance of Services Index (PSI) plummeting to a record low...

2021 ‘wealth surge’ fuels ‘generational divide’, say economists

New Zealand apparently experienced 'a significant surge in household wealth' during 2021, creating a 'generational divide' that economists believe may never be seen again. Stats...

US warned over ‘chronic fiscal deficit’

The International Monetary Fund (IMF) has criticized Washington for the persistent “misalignment” of its fiscal policy. US budget deficits and soaring debt present a “growing...

Kiwis hit by surprise tax bills, parental leave recipients among hardest hit

Many New Zealanders, especially those on parental leave, are facing unexpected tax bills amounting to thousands of dollars due to automated income tax assessments...

Construction industry concerns over Kāinga Ora’s revamp and project delays

The construction industry in New Zealand is facing significant issues due to the government’s revamp of Kāinga Ora, the largest home builder in the...

GDP increases 0.2 percent in the March 2024 quarter

New Zealand’s gross domestic product (GDP) rose 0.2 percent in the March 2024 quarter, following a 0.1 percent decrease in the December 2023 quarter,...

Major business deals signed on Japan trip – Luxon

Significant business deals have been closed during the visit of Prime Minister Christopher Luxon to Japan this week, including in the areas of space,...

‘National Infrastructure Pipeline worth over $120 billion’ – Bishop

The National Infrastructure Pipeline, which provides a national view of current or planned infrastructure projects, from roads, to water infrastructure, to schools, and more,...

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