Key says Government looking at unilateral consumption tax on online purchases from offshore sites; also looking at making online retailers register for GST

Short headline:  Key supports GST on online sales Tweet By Lynn Grieveson John Key has thrown his weight behind moves to catch more online purchases and even digital downloads in the GST net, and Labour says it would support changes to close the online revenue loophole. New Zealand is part of an OECD working group looking at the issue of …

Inventories of stored oil at highest point since 1982; if Iran commence exporting again further downward pressure on oil prices; profit taking on USD ahead of FOMC meeting

Short headline:  Oil prices remain vulnerable Tweet By Ian Dobbs*: The USD is seeing some profit taking ahead of what could be a very interesting FOMC statement on Thursday morning. The language used in that statement will be closely analysed for signals the Fed remain on course to hike rates in June. Recent soft US data releases do raise the …

Tuesday, March 24

Today is Tuesday, March 24, the 83rd day of 2015. There are 282 days left in the year.Highlights in history on this date:1267 – St. Louis of France calls his knights to Paris to prepare for the Eighth Crusade. It ends in failure…

American Airlines to join S&P 500

NEW YORK (AP) ” S&P Dow Jones Indices says that American Airlines Group will soon be joining the S&P 500 index.The Fort Worth, Texas, holding company for American Airlines and US Airways will be added to the index after the close…

Agriculture: Meat industry report backs co-op model

A report into New Zealand’s meat industry has come out heavily in favour of a single co-operative business model similar to Fonterra’s to deal with decades-old issues of overcapacity and too much competition for stock.The report…

Primary Industries Minister cautious on chances for Meat Industry Excellence proposal for Fonterra-style industry Co-op getting off the grounds

Short headline:  Guy lukewarm on meat Co-op plan Tweet By Bernard Hickey Primary Industries Minister Nathan Guy has downplayed the chances of a 'Big Red' meat industry consolidation into a Fonterra-style Co-operative happening any time soon. Guy has also rejected calls for the Government to lead any consolidation in the same way the 1999 Labour Government pushed through the legislative …

Andrew Hooker says the consumer is the winner – for now – from insurers flip flopping over sum insured policies

Short headline:  The free market comes to insurance Tweet By Andrew Hooker* After the Christchurch earthquakes the New Zealand insurance industry announced that full replacement cover would be changed to sum insured. No longer could you insure your house for an unlimited sum insured. Such policies were no longer sustainable. Some blamed the reinsurers. But previous articles argued that in …

Joan Withers named new TVNZ chair

Mighty River Power chairwoman Joan Withers has been appointed as the new chair of TVNZ.Withers has been deputy chair of the state-owned broadcaster since 2009 and her previous experience in media companies includes being chief executive…