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Economy

National pledges to lift KiwiSaver rates to 12% by 2032

Daily Telegraph NZ -

A National Government elected next year would move to significantly boost New Zealanders’ retirement savings by gradually increasing KiwiSaver contribution rates to 12%, bringing...

South Africa accuses credit agencies of ‘unfair bias’ against African economies

Daily Telegraph NZ -

South Africa’s finance minister, Enoch Godongwana, has accused major international credit rating agencies of systematically undervaluing African economies, saying their assessments fail to reflect...

Unemployment hits 5.3% as job market weakens and wage growth slows

Daily Telegraph NZ -

New Zealand’s unemployment rate rose to 5.3% in the September quarter — its highest level in nearly nine years — as businesses froze hiring...

Universal Basic Income: Make slavery great again

David Bell -

I once worked in communities supported mainly through a form of Universal Basic Income (UBI). Most money was received from the government for no (or...

Malaysia commits major investments in New Zealand energy and tourism

Daily Telegraph NZ -

Prime Minister Christopher Luxon’s visit to Malaysia this week has yielded two major foreign investments into New Zealand, with Malaysian conglomerates Yinson Renewables and...

‘Terrible idea’: Willis slams Labour’s Capital Gains Tax policy

Daily Telegraph NZ -

Finance Minister Nicola Willis has criticised Labour’s proposal for a capital gains tax on investment property as “a massive tax on the New Zealand...

Leading Think Tank warns Germany facing ‘dramatic economic decline’

Daily Telegraph NZ -

Germany’s economy is in “dramatic decline” after years of stagnation, falling private investment, and surging government spending, according to a new report by the...

Ethiopia in talks with China to convert dollar debt into Yuan loans

Daily Telegraph NZ -

Ethiopian officials have announced that the country is negotiating a currency swap agreement with China aimed at converting part of its $5.38 billion debt...

S&P downgrades France’s credit rating

Daily Telegraph NZ -

S&P Global Ratings has cut France’s long-term sovereign credit rating from AA- to A+, citing mounting public debt, sluggish fiscal reforms, and deepening political...

Gold could hit $10,000 – JPMorgan boss

Daily Telegraph NZ -

The precious metal has more than doubled in price since 2023, gaining renewed popularity amid rising inflation and geopolitical tensions. Gold could soar to $10,000...

GrabOne enters liquidation

Daily Telegraph NZ -

Online deals site GrabOne has gone into liquidation, with Calibre Partners’ Daniel Stoneman and Neale Jackson appointed as liquidators of Global Marketplace New Zealand,...

Wattie’s cuts more Hawke’s Bay crops

Daily Telegraph NZ -

Wattie’s New Zealand, owned by US food giant Kraft-Heinz, is further scaling back its sourcing of key Hawke’s Bay crops—beetroot, corn, and tomatoes—following an...

Beijing vows to ‘fight to the end’ in trade war with US

Daily Telegraph NZ -

Donald Trump has threatened to impose extra 100% tariffs on all Chinese goods. China has said it is prepared to “fight to the end” in...

Business liquidations surge 40% above pre-Covid levels

Daily Telegraph NZ -

Company liquidations in New Zealand have already surpassed last year’s total for the same period, with 1,974 firms wound up so far amid tightening...

Inland Revenue steps up bank deductions as tax debt tops $9.3b

Daily Telegraph NZ -

Thousands of New Zealanders have had funds taken directly from their bank accounts as Inland Revenue intensifies efforts to recover unpaid taxes. Since mid-June, the...

IMF issues global debt warning

Daily Telegraph NZ -

Public debt levels could outgrow the world economy within five years, IMF chief Kristalina Georgieva has said. Global public debt will exceed the size of...

Peters demands answers over Fonterra’s plan to sell iconic brands to French dairy giant

Daily Telegraph NZ -

Foreign Minister and New Zealand First leader Winston Peters has launched a blistering attack on Fonterra’s proposal to sell its iconic consumer brands —...

Reserve Bank cuts OCR to 2.5%

Daily Telegraph NZ -

The Reserve Bank of New Zealand’s Monetary Policy Committee (MPC) has cut the Official Cash Rate (OCR) by 50 basis points to 2.5 percent,...

Hipkins says ‘entire government’ must resign

Daily Telegraph NZ -

Labour leader Chris Hipkins has refused to join former finance ministers Ruth Richardson and Roger Douglas in calling for Finance Minister Nicola Willis to...

Roger Douglas calls for Willis to resign

Daily Telegraph NZ -

Former Finance Minister Sir Roger Douglas and economist Robert MacCulloch have urged Finance Minister Nicola Willis to resign, blaming her handling of ballooning deficits...

Administrators recommend liquidation as Kitchen Things collapses owing $16.6m

Daily Telegraph NZ -

Kitchen Things and its related companies face liquidation after administrators revealed debts of more than $16.6 million owed to 396 creditors, including $9.9m to...

Fitch hits France with record-low credit score

Daily Telegraph NZ -

The agency linked the cut to growing political instability. France’s credit score has been downgraded from AA- to A+, the country’s lowest on record, with...

Builders struggle as construction insolvencies climb 13% year-on-year

Daily Telegraph NZ -

Construction sector insolvencies remain high, with 187 cases recorded in the June quarter—up 13 percent on last year—according to BWA Insolvency. While down slightly from...

Three Kiwi medical tech startups collapse after funding shortfall

Daily Telegraph NZ -

Three New Zealand medical technology companies – Upstream Medical Technologies, Tiro Medical, and Exsurgo – have entered liquidation after failing to secure further investment. Despite...

Post-Covid slowdown leaves NZ near bottom of global wage growth rankings

Daily Telegraph NZ -

New Zealand’s post-Covid economic downturn has left wage growth near the lowest globally, with the country ranking 25th out of 43 for per capita...

German unemployment hits ten-year high

Daily Telegraph NZ -

The country’s economy is facing a third consecutive year without growth. Unemployment in Germany has risen to its highest level in a decade, official figures...

Reserve Bank chair Neil Quigley quits

Daily Telegraph NZ -

Reserve Bank chair Neil Quigley has resigned with immediate effect after months of controversy over his handling of former Governor Adrian Orr’s departure. Finance Minister...

SME pessimism grows as OCR cuts fail to lift confidence

Daily Telegraph NZ -

Small and mid-sized business owners in New Zealand remain pessimistic despite recent OCR cuts, with many yet to see benefits flow through to their...

UK teeters on economic collapse – Telegraph

Daily Telegraph NZ -

Soaring debt and borrowing costs are approaching levels that once forced London to seek an IMF rescue, according to a recent report. Britain is facing...

German economy in structural crisis – Merz

Daily Telegraph NZ -

Tackling the challenges the country is facing has proven harder than expected, the German chancellor admits. The German economy is experiencing a “structural crisis” rather...

Fonterra sells consumer brands to Lactalis in $3.8b deal

Daily Telegraph NZ -

Fonterra has agreed to sell its global consumer businesses, including well-known brands such as Mainland and Anchor, along with processing operations in Australia and...

Fletcher Building posts $419m loss

Daily Telegraph NZ -

Fletcher Building has reported a full-year net loss of $419 million, increasing from $227 million last year, as revenue fell to $7.0b and underlying...

Rising number of NZ businesses reporting losses as economic pressures mount

Daily Telegraph NZ -

Inland Revenue data shows a growing number of New Zealand businesses are recording losses, with 107,450 companies reporting a current loss in the latest...

Union warns of ‘labour market crisis’

Daily Telegraph NZ -

Unemployment in New Zealand has climbed to 5.2%, with 158,000 people now out of work, according to new data released by Stats New Zealand. The...

Unemployment rises to 5.2%

Daily Telegraph NZ -

New Zealand’s seasonally adjusted unemployment rate was 5.2 percent in the June 2025 quarter, according to figures released by Stats NZ today. This compares with...

Accountants call for Capital Gains Tax to tackle structural deficit and aging population pressures

Daily Telegraph NZ -

CPA Australia, representing over 3,000 accountants in New Zealand, is urging a comprehensive tax system overhaul, including the introduction of a capital gains tax...

Inflation increases 2.7 percent

Daily Telegraph NZ -

New Zealand’s consumers price index (CPI) increased 2.7 percent in the 12 months to the June 2025 quarter, according to figures released by Stats...

U.S. Treasury reports surprise surplus

Daily Telegraph NZ -

The gains are largely driven by President Donald Trump’s tariff hikes, which pushed customs duty collections to record highs. The US government posted a surprise...

South Korea to give citizens free money

Daily Telegraph NZ -

A nationwide scheme aims to spark economic revival through increased consumption, the Interior Ministry has said. South Korea is launching a sweeping cash handout program,...

Hardship and business failures on the rise

Daily Telegraph NZ -

New data from Centrix shows a 14% year-on-year increase in financial hardship, with nearly 50,000 individuals struggling to pay bills—24,000 of whom are facing...

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