ANZ wears $32m Pumpkin Patch shortfall

The collapse of Pumpkin Patch is likely to see the company’s bankers wear more than $30 million in losses, receivers say.The childrens’ clothing retailer, which employed 1500 staff in 166 retail stores across Australasia, collapsed…

Great Barrier Reef is worth $56 billion to Australia

The Great Barrier Reef is worth A$56 billion ($58.2b) to Australia’s economy and is “too big to fail”, according to a new report.Deloitte Access Economics found the reef contributed A$6.4b to the Australian economy in 2015-16 and…

Man's best friend costs a doggone fortune

Dogs are adorable, affectionate and protective companions but they’re also a bit dumb and can cost their owner a lot of money.Southern Cross Pet Insurance today released their top unusual claims from the past year, highlighting…

English dangles tax cuts in front of party faithful while trying to work through Barclay Affair deflection play-book; Winston Peters targets regional economic development

Tweet By Alex Tarrant As expected, National’s election year gee-up/Barclay Affair deflection strategy had talk of tax cuts front and centre. Bill English’s keynote speech to the party’s annual conference over the weekend was void of any real policy announcements, but the National leader did outline to the faithful a “vision to take New Zealand into the 2020s”. All the buzzwords you’d …

NZ Initiative's Martine Udahemuka says a viable maths solution will require an equation that puts the horse before the cart

Tweet By Martine Udahemuka*  Just over a week ago, the OECD released its two-yearly economic report card for New Zealand. At first glance, New Zealand looks picturesque according to the 2017 Economic Survey. The report points to our strong economic growth supported by our thriving tourism sector, strong migration policy settings, and robust monetary policy. But the Survey also does …

Roger J Kerr says political opinion polls will be as important as economic indicators in setting the direction of the Kiwi dollar in coming months

Tweet Image sourced from Shutterstock.com By Roger J Kerr The NZ dollar has consolidated its gains against the USD in the 0.7200 to 0.7300 trading range over the last two weeks. There has not been any sufficiently negative news to deter the buyers and holders of Kiwi dollars. Whilst the GDP growth outcome for the March quarter at +0.50% was …

Roger J Kerr says recent sharp drops in oil prices support the Reserve Bank's view that inflation will ease again; current high value of NZ dollar has monetary conditions too tight

Tweet By Roger J Kerr The Reserve Bank of New Zealand currently have a forecast that the annual inflation rate will reduce to 1.1% by March 2018 (currently the annual inflation rate is 2.2%). They also have a forward guidance to the market of no increase in the Official Cash Rate (OCR) until late 2019. The market for short-term interest rate …

The Opening Bell: Where currencies start on Monday, June 26, 2017

Tweet By Dan Bell The NZDUSD opens at 0.7285 (mid-rate) this morning. The NZDUSD looks set to retest 0.7300 as once again US economic data fell short of economists’ estimates. Friday evening’s US economic data releases disappointed with new home sales, flash manufacturing PMI and flash services PMI all failing to reach economists’ forecasts. New home sales climbed by 2.9% …