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Economy

NZ accepts Vice Chair role at the upcoming WTO

Trade Minister Todd McClay has accepted the role of Vice Chair for the World Trade Organisation’s 13th Ministerial Conference in Abu Dhabi next year. “I...

GDP decreases 0.3 percent in the September 2023 quarter

New Zealand’s gross domestic product (GDP) fell 0.3 percent in the September 2023 quarter, following a revised 0.5 percent increase in the June 2023...

Government renews Reserve Bank focus on inflation

With Parliament now having passed the Reserve Bank of New Zealand (Economic Objective) Amendment Bill, the coalition Government has met its 100-Day commitment to...

Fair Pay Agreement legislation to be repealed by Christmas – Van Velden

The Government is delivering on its commitment to repeal the Fair Pay Agreement legislation by Christmas 2023. “We are moving quickly to remove this legislation...

Govt extends 90-day trial periods to all employers

The Government is delivering on its commitment to extend the availability of 90-day trial periods to all employers. “Extending 90-day trial periods to all employers...

Non-residential building activity down in September quarter

The seasonally adjusted volume of building activity in New Zealand was $8.6 billion in the September 2023 quarter, down 2.4 percent compared with the...

Top grocery brands fueling ‘greedflation’ – UK watchdog

Big names have been hiking prices faster than their costs increased, says Competition and Markets Authority. Many popular grocery suppliers have been pushing up prices...

Central banks risk plunging developed world into recession – OECD

Aggressive anti-inflation policies are hurting economic growth, a report warns. Central bankers’ continued fight to bring rampant inflation under control could plunge developed countries into...

Pandemics as a Catalyst for a New World Order

Each nation in the world has its own culture, governance structures, traditions, property, borders, and peoples. We must preserve the diversity and sovereignty of nations...

Cocoa prices near 50-year highs

Global shortages and high demand for chocolate have sent futures soaring. Prices for cocoa soared to their highest level in nearly half a century this...

World facing ‘debt tsunami’ – Bloomberg

Bond yields have risen substantially in developed countries, with central banks offloading their vast holdings. Sovereign bond sales could increase further next year as budget...

10 tips for Kiwi businesses going into 2024

For any business to survive in the dynamic and ever-changing landscape of the corporate world, it must be adaptable. However, as we move forward into...

NZ 2023 election increases filled jobs for October

Filled jobs rose by 13,046 when seasonally adjusted in October 2023 compared to September 2023, according to figures released by Stats NZ today. The increase...

Turkey raises interest rates to 40%

The Turkish central bank’s rate hike was double economists’ expectations. Türkiye’s central bank hiked its key interest rate to 40% on Thursday in an effort...

Foreign buyers moving away from US debt – WSJ

Share of US Treasuries owned by overseas holders has shrunk significantly in ten years, the newspaper reports. Demand for US outstanding government debt from overseas...

Japan faces recession – official data

The country’s economy saw a sharp contraction in the third quarter. The Japanese economy slipped into a contraction in the period from July to September,...

Record net migration loss of New Zealand citizens

There was a record net migration loss of 44,700 New Zealand citizens in the September 2023 year, according to provisional estimates released by Stats...

Food prices up since last year but down in October 2023

Food prices in New Zealand were 6.3 percent higher than a year ago but were cheaper in October 2023 than they were a month...

BRICS overtaking G7 in economic might – Bloomberg

The group’s share of global GDP in PPP terms is set to more than double that of the G7 by 2040, according to a...

US debt to top $50 trillion – BoA

The country’s $31.4 trillion debt ceiling was exceeded in January, and later scrapped altogether until 2025. The US national debt could surge by $20 trillion...

Fall in exports to China continues in the year ended September 2023

The total value of goods exported to China in the year ended September 2023 was $19.3 billion, according to figures released by Stats NZ...

UK firms shedding staff as recession fears mount

British private sector output dropped in September, prompting firms to cut staff, S&P Global says. Companies in the UK’s private sector have been downsizing their...

UK backtracks on petrol-car ban

The measure was poorly thought-out and would have been a challenge for Britons, Prime Minister Rishi Sunak said. The UK is to delay its planned...

Global air travel booming – IATA

Passenger traffic has rebounded almost to pre-Covid levels, the industry body reports. Global passenger plane traffic continued its post-Covid recovery in July, driven by surging...

Mortgage meltdown looming for UK – data

Arrears have hit a seven-year high due to rising interest rates and unemployment. A growing number of British households are falling behind on loan payments,...

This arrogant multimillionaire is spoiling for a class war

Tim Gurner’s claim that workers are paid too much and unemployment should rise sound exactly like a caricature from Das Kapital. Tim Gurner, founder of...

British motorists ‘shocked’ by fuel prices – watchdog

The cost of gasoline and diesel jumped significantly in August, data shows. UK drivers have been hit by rocketing fuel prices which saw their sharpest...

Electricity prices in Italy surge 30% in a week

Household bills have soared since Western countries largely abandoned Russian oil, natural gas and coal supplies. Energy prices across the EU have been surging, raising...

National will ‘deliver meaningful tax relief’

A family with children, on the average household income of $120,000, will be up to $250 a fortnight better off under National’s tax relief...

US mortgage rates hit 23-year high

Economists have warned of a “dire” situation on the housing market. American home loan rates have surged to their highest level in more than two...

British rents skyrocketing

Prices have experienced their sharpest increase since 2016 in July, official data shows. Private rental prices paid by tenants in the UK have jumped by...

NZ Loyal propose 1% Transaction Tax to replace income tax, company tax and GST

'New Zealand LOYAL is committed to creating an atmosphere of cheaper goods and services and increasing economic activity as a whole, while allowing for...

French scrimping on hygiene and beauty products – poll

High inflation has forced people to cut spending. Around 45% of French people have been forced to cut back on buying beauty products this year,...

Global household wealth nosedives – report

The decline was the first since the 2008 financial crisis, a survey has shown. Total net private wealth across the world decreased by 2.4% to...

Spain’s food inflation tops 30% – El Mundo

Prices of essential products in Spain have risen sharply since 2019, the outlet says. Food prices in Spain soared by 30.8% in July compared to...

Bryce Edwards: How Labour’s tax cut will do little but benefit the rich

Who would profit most from Labour’s GST-exemption policy? It won’t be those struggling with the cost of living – the average shopper is unlikely to...

‘$250 million amateur error in Labour’s GST costing’ – National

A closer look at Labour’s costings for their policy to remove GST from fruit and vegetables reveals a schoolboy error equating to quarter-of-a-billion-dollar hole,...

‘Election bribe’: Labour promises to remove GST on fruit and veges if re-elected

At the announcement today in Lower Hutt, leader Chris Hipkins also said Working for Families payments would increase. 'Today I'm announcing that if re-elected Labour...

Massive $78 billion cash flight rocks American banking system – Report

In an attempt to combat surging inflation, the Federal Reserve has implemented its fastest interest rate hikes since the 1980s, which has yielded unintended...

Robert Kiyosaki predicts US stock market crash

The finance guru earlier warned that hiking interest rates to battle inflation may have a negative effect on stocks. Renowned writer and economist Robert Kiyosaki...

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