RBNZ warned Government that HomeStart subsidy for first home buyers could boost developer margins and pump up already over-valued house prices

Short headline:  HomeStart 'could boost developer profits' Tweet By Bernard Hickey Reserve Bank Governor Graeme Wheeler warned the Government in June last year that its expanded HomeStart scheme to subsidise first home buyers, which was launched today, could boost property developers' profit margins and further pump up already over-valued house prices over the long term. Wheeler's June 18 letter to …

$175m South Auckland retirement village planned

Retirement village owner and operator Metlifecare has a deal to buy part of the Manukau Golf Course from Fletcher Living for a new $175 million village for the elderly.Alan Edwards, Metlifecare chief executive, said the acquisition…

A review of things you need to know before you go home on Wednesday; Deposit rate cuts, house values rise, China's manufacturing expands, Solid Energy intrigue, April fools

Short headline:  What happened Wednesday Tweet Here are the key things you need to know before you leave work today. TODAY'S MORTGAGE RATE CHANGES There were no rate changes today. TODAY'S DEPOSIT RATE CHANGES There is a myriad of changes today. ANZ and ASB shaved 0.15% off their Serious Saver and on-call savings accounts. ASB reduced the $100K+ rate by …

Air NZ labelled 'Air Auckland' in Christchurch

Air New Zealand is facing a backlash in Christchurch after announcing it was canning summer flights to Japan.This will mean the airline will no longer have any long-haul services from Christchurch where the airport and local authorities…

Green $400m family feud back in court

The eldest daughter of the late businessman Hugh Green wants no appointments made to two trusts while she waits for a High Court decision in a battle over his $400 million fortune.Green died, aged 80, in 2012 and had been awarded…

Datacom wins big Australian health contract

Auckland based IT company Datacom has won a $248 million contract with Australia’s Department of Health.The deal will see Datacom supply ICT infrastructure and support services to the Australian Government, in a win that followed…

Justice Winkelmann promoted to Court of Appeal

Justice Helen Winkelmann has been promoted to the Court of Appeal and her colleague Justice Geoffrey Venning is now the new Chief High Court Judge.Attorney-General Chris Finlayson announced the appointments yesterday afternoon.A…