Rates rise at weekly US Treasury auction

WASHINGTON (AP) ” Interest rates on short-term Treasury bills rose in Monday’s auction.The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.02 percent, up from 0.015 percent last week. Another…

Commercial properties sold by NAI Harcourts and Colliers went for $530,000 – $1.875m, achieving net rental yields of 5.67% – 9.74% for their new owners

Tweet This property on Ti Rakau Drive in Auckland was sold by NAI Harcourts for $1.685 million. Commercial properties in Auckland continue the trend of achieving much higher net rental yields for their owners than comparably priced residential properties. Commercial properties recently sold by NAI¬†Harcourts and Colliers International ranged in price from $530,000 to $1.875 million, and provided their new …

Tesla battery gamechanger: Vector chief

Vector chief executive Simon Mackenzie believes Tesla’s new batteries will help transform the energy sector.He said the battery – which can store large amounts of energy in a small space and at a relatively low cost – was the biggest…

A tale of many New Zealands

Some regions will “fail” economically and perhaps socially unless we help them to adjust, the Salvation Army says.A major report by the army’s social policy analyst Alan Johnson shows that most North Island provincial regions still…

Home buyers get new online loan option

A newly licensed online lending service is targeting prospective homeowners who have been shut out of the mainstream mortgage market by low-equity loan restrictions introduced by the Reserve Bank.LendMe announced yesterday that…

The Opening Bell: Where currencies start on Tuesday, May 12, 2015

Tweet By Dan Bell The NZDUSD opens at 0.7345 (mid-rate) this morning. The NZD has lost ground against all its major competitors as speculation that the reserve bank will cut our OCR increases. The forward market is now pricing in 44bps cuts by March 2016. The GBP has been the best performing currency at the start of the week with …

Hammerheads Restaurant in liquidation

Well-known Auckland restaurant Hammerheads is in liquidation and has shut down.The restaurant occupied a prime waterfront position on Tamaki Drive for more than 20 years and its operator was being chased by Inland Revenue, who…