Hart's auto parts business eyes asset sales

New Zealand billionaire Graeme Hart’s UCI Holdings auto parts business is seeking to amend its credit agreements to free up potential asset sales in the latest move by the country’s richest man to trim down the size of his investment…

Online shopping growth beats physical stores

Online retail spending continues to grow, with March spending up 11 per cent on the previous year according to the latest BNZ online retail sales report.The survey found online spending in New Zealand alone was up 7 per cent on…

Finance Minister signals bigger Budget deficit for 2014/15 in pre-Budget speech; says Treasury also sees smaller surplus for 2015/16 due to low inflation; says Govt won't slash spending in response

Tweet By Bernard Hickey Finance Minister Bill English has used a Budget preview speech to signal a bigger than expected Budget deficit in the current 2014/15 year and a smaller surplus next year as lower inflation is expected to reduce the Government’s revenue forecasts by NZ$4.5 billion over the next four years. However, he said the Government did not plan …

RBNZ completes licensing of finance companies, building societies and credit unions that borrow from the public

Tweet Image sourced from Shutterstock.com The Reserve Bank says it has completed the licensing of non-bank deposit takers (NBDTs), with licences issued to 31 entities. NBDTs are finance companies, building societies and credit unions that borrow money from the public. Under the Non-Bank Deposit Takers Act they were required to get licensed by today, May 1. Stricter oversight of such entities was …

US House adopts budget plan targeting 'Obamacare'

WASHINGTON (AP) ” The Republican-led House of Representatives adopted a budget blueprint Thursday that promises to speed repeal of the President Barack Obama’s health care law while giving the Pentagon an additional $38 billion.The…

QV says the average home's value in Auckland is now $809,200 and has increased 14.6% in the last year

Tweet Image sourced from Shutterstock.com The average Auckland home is now worth more than $800,000 compared to the national average of $507,040, according to Quotable Value. QV’s Residential Value Index shows that the average value of homes in Auckland was $809,200 in April, up 14.9% compared to April last year. “The Auckland market has increased 14.6% year on year, 4.3% over the past …