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12:02 Inflation jumps to five-year high, boosting chances of interest rate hike

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  • Liquidators to examine Mainzeal’s Yan over incomplete financial records

    2 April 2014 9:58 PM 20

    Liquidators for Richina Global Real Estate say they‘re planning to examine company director Richard Yan because he has not been forthcoming with all relevant financial records. Richina Global was placed into court-ordered liquidation on February and since then, Mr Yan has staunchly opposed liquidators at BDO from rifling through the company’s files

  • Factory Orders Sends S&P 500 to Fresh High on Stock Market Today

    2 April 2014 7:19 PM 25

    The three stock averages have flipped into the green on the stock market today. Wall Street was fluctuating a bit this morning following ADP numbers, but factory orders data has pushed the S&P 500 to new highs. The ADP National Employment report kicked things off this morning. According to the ADP report, the U.S. economy created nearly 200,000 new private

  • Dairy product prices take a tumble

    2 April 2014 7:11 PM 6

    Dairy product prices had the biggest drop in almost 20 months at Fonterra Cooperative Group's latest GlobalDairyTrade auction as whole milk powder fell to its lowest level in more than a year. The GDT price index dropped 8.9 per cent to $US4,124 ($NZ4,750) a tonne from $US4,563 per tonne two weeks ago, the fourth straight decline and the lowest since

  • Wall Street Turns Mixed After Factory Orders Report

    2 April 2014 6:40 PM 5

    Wall Street markets lost some earlier gains on Wednesday despite a report on factory orders that was better than expected. In early afternoon trading the Dow Jones industrial average was down 0.03 percent and the Standard & Poor’s 500-stock index was up 0.04 percent. The Nasdaq composite index lost 0.13 percent. New orders for factory goods rebounded

  • MARKET CLOSE: NZ stocks fall as Xero’s growth falters

    2 April 2014 6:15 AM 9

    April 2 (BusinessDesk) – New Zealand shares fell for a third day, paced by Xero as investors turned away from the high growth stock after an analyst revised their forecasted subscription rate for the company. Outside the benchmark index Synlait Milk fell on weaker global dairy prices. The NZX50 Index fell 6.211, or 0.1 percent, to 5116.308. Within the index

  • Interest rate swaps case - further information being assessed

    2 April 2014 4:15 AM

    The Commerce Commission has announced that it is currently assessing new information received concerning the banks involved in the interest rate swaps investigation. Last December the Commission reported that it anticipated filing proceedings against ANZ, ASB and Westpac by the end of March. However, the Commission has been able to actively advance its investigation

  • Tax refunds in 60secs by app

    1 April 2014 6:57 PM 16

    This is the latest marketing pitch from tax refund company NZ Tax Refunds, which does the work as a tax agent. The average refund for wage and salary earners is $464 – “the same price as a new Samsung Galaxy Mini, Nokia Lumia smartphone or entry level tablet device. Or a few tickets on Jetstar, one way ticket to Sydney or a big night out at a restaurant

  • Exxon to Wal-Mart Flying G650 Turn Jet Into Status Symbol

    1 April 2014 6:55 PM 61

    Ed Dahlberg got 40 calls in one day when he put a Gulfstream G650 up for sale in February. That’s unusual for a private jet -- especially when the asking price tops the $64.5 million on the sticker. “We believe this plane’s going to bring north of $75 million,” said Dahlberg, president of Manassas, Virginia-based Emerald Aviation Inc. and part-owner

  • Avocado Industry Council thrilled by opportunity

    1 April 2014 4:45 PM 9

    There's a new push for the New Zealand avocado to become a globally exported fruit. A five-year multi-million-dollar partnership programme between the Avocado Industry Council and the Ministry for Primary Industries has been announced. The council's CEO Jen Scholar says it's a landmark development for the industry. "We currently rely on one single export

  • Cleanup continues after dairy tanker overturns

    31 March 2014 11:54 PM 6

    The clean up continues for officials in the Bay of Plenty this morning, after a dairy tanker overturned in the lower Kaimai Ranges. The tanker was on its way to Hamilton yesterday afternoon when the edge of the road gave way, the tanker rolled, and 15,000 litres of lactose spilled into the Wairoa River. The Bay of Plenty Regional Council is continuing