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Invest In NZ News

  • Cooking the Books podcast: Are Boxing Day sales worth it?

    Each week the New Zealand Herald and Newstalk ZB's Cooking The Books podcast tackles a different money problem. Today, it's how to handle the notorious Boxing Day sales. Hosted by Frances Cook.

    Everyone loves to grab a bargain, but the problem is that shops know that.

  • Bankrupt butcher misled lender about stash of gold

    A bankrupt Auckland butcher pleaded guilty to making a false statement about having a stash of gold bars worth some $150,000 when applying for credit.

    Sushil Kumar Sharma is awaiting sentence having admitted managing a business while bankrupt, fraudulently removing property, concealing property, misleading the Official Assignee (OA) and making a false statement to creditors.

  • Finance Minister Grant Robertson and Revenue Minister Stuart Nash today announced the members being appointed to the Government’s Tax Working Group.

    “The Tax Working Group has been established to look at the structure, fairness and balance of New Zealand’s tax system. The wide range of expertise and experience among the membership means the Working Group is well placed to consider changes to make our tax system fairer,” Grant Robertson says.

    Along with chair Sir Michael Cullen, the Working Group members being appointed are:

  • Global defence spending to hit its highest level since the Cold War

    Growing global tensions mean - defence spending is about to hit its highest level since the Cold War peak of the Eighties.

    Data prepared exclusively for The Daily Telegraph by IHS Markit Jane's defence analysts forecast that arms spending will hit US$1.67 trillion ($2.3t) in the coming year - overtaking the recent high seen in 2010 of US$1.63t ($2.3t).

  • NZ shares rise as A2 and Fletcher Building rebound

    New Zealand shares rose, led higher by Freightways and Comvita, as a2 Milk Co and Fletcher Building rebounded from recent selling ahead of the Christmas holiday.

    The S&P/NZX 50 Index gained 57.05 points, or 0.7 per cent, to 8,401.2. Within the index, 34 stocks rose, 13 fell and three were unchanged. Turnover was $125 million.

  • Expert panel appointed for Reserve Bank Act Review

    The members of the Independent Expert Advisory Panel for Phase 1 of the Review of the Reserve Bank of New Zealand Act 1989 bring considerable knowledge and expertise to the table, Finance Minister Grant Robertson says.

    Suzanne Snively ONZM has been appointed Chair of the Panel and is joined by members Dr Malcolm Edey and Dr Girol Karacaoglu.

  • Air New Zealand leads sharemarket lower

    New Zealand shares dropped, led lower by Air New Zealand and Contact Energy while Scales Corp and Oceania Healthcare gained.

    The S&P/NZX50 Index fell 16.71 points, or 0.2 per cent, to 8,344.15. Within the index, 26 stocks rose, 16 fell and eight were unchanged. Turnover was $197 million.

    "It's a real mixed bag today, which is a bit surprising given Australia is up quite nicely," said Grant Williamson, director at Hamilton Hindin Greene.

  • NZ services sector lifts after two months' decline

    New Zealand's services sector activity, which accounts for about two-thirds of the economy, advanced in November, snapping two months of declines, led by increases in sales and new orders.

  • Super Fund weeds out pot investments

    Companies involved in the recreational cannabis industry have been excluded from the $37 billion NZ Super Fund.

    The exclusion does not include companies involved with licensed and authorised medicinal cannabis, the fund said.

    The move followed a growing global trend to decriminalise and legalise the recreational use of cannabis, which had led to sharemarket listings of companies involved in the industry, it said.

  • Courier company loses Canadian family's $946k inheritance, offers $36 refund

    A Canadian couple is locked in a battle with UPS after the courier company lost a package containing a $CA846,00 (NZ$$946,300) bank draft — and offered them a $CA32 (NZ$36) refund for the "inconvenience".

    Lorette Taylor told CBC News she and her husband John were at their wits' end trying to recover the money, intended for her brother, after more than 10 months.

  • T&G Global boss Alastair Hulbert resigns effective today

    T&G Global chief executive Alastair Hulbert has resigned, effective today, after four years in charge of the fruit marketer.

    The Auckland-based company has called in long-term BayWa collaborator Thomas Bargetzi to act as interim CEO while it looks for a new boss, T&G said in a statement. Chair Klaus Lutz acknowledged Hulbert's "significant contribution" to the wider group during his tenure.

  • Rob Campbell, the anarchist who conquered the corporate world

    Rob Campbell, the new chairman of SkyCity, rose to public prominence in the 1970s and 80s as a union leader.

    It's a well-known story, reflecting New Zealand's political transformation during the era.

    But it's still a surprise to hear the senior business leader, who also chairs Tourism Holdings and retirement village operator Summerset, say he'd like to see more business leaders coming through from a union background.

  • Why Rocket Lab's launch was aborted seconds before lift-off

    Rocket Lab says its launch yesterday was aborted due to rising liquid oxygen (LOx) temperatures feeding into one of the Electron's nine engines.

    The launch attempt was aborted two seconds before lift-off from its range on Mahia Peninsula between Gisborne and Napier.

    It says it will attempt to launch again tomorrow - after 2.30pm - and that the 17m rocket or pad equipment wasn't damaged.

  • Jailed Crafar farms bidder defaults on mortgage

    A man jailed for his part in fraudulently trying to buy the Crafar farms has defaulted on a mortgage of a south Auckland property he owns and risks losing it.

    In a High Court order published earlier this month, Ke En Chen, also known as Jack Chen, was told that he had until January 12 to pay $9800 he owes on a house on Magnolia Place in Flat Bush.

  • Justin Trudeau snubs Boeing, unveils plan to buy used Australian jets

    The Trudeau government is escalating a trade fight with Boeing, ditching plans to buy 18 Super Hornets while launching a search for new fighter jets under parameters that could hamper future bids from the US planemaker.

  • Bitcoin billionaires tip cryptocurrency's value to soar by another 20 times

    The twin brothers dubbed the world's first "bitcoin billionaires" have predicted the controversial digital currency could increase in value by another 20 times from today's levels.

    Speaking to Fox Business following the launch of the first bitcoin futures product on the Chicago Board Options Exchange (CBOE) on Sunday night, Cameron and Tyler Winklevoss challenged the naysayers to "put their money where their mouth is".

  • Future cities will adapt like living organisms: Alibaba tech expert

    Wang Jian was once called crazy by Jack Ma Yun, the founder and executive chairman of Alibaba Group Holding, for suggesting that the company can have its own mobile operating system.

  • Progress accelerating on 100 Day Plan

    This week marks the half way stage of the Government’s 100 Day Plan and will see further pleasing progress on delivering on our commitments, says Prime Minister Jacinda Ardern.

     “We promised we would be a different government, one that makes dealing with child poverty and reducing inequality a priority. We are delivering on that promise.

  • Uber heads to court to fight London ban

    Uber will head to court tomorrow to fight its London ban, kicking off the first of two crucial legal battles over the next fortnight.

    The US ride-hailing app is appealing Transport for London (TfL)'s controversial decision to strip the company of its private hire licence in September, a move that effectively banned Uber from the UK capital, the Daily Telegraph reported.

  • Auckland realtor Preet Grewal gives up licence

    The Real Estate Agents Authority is investigating apparent "abnormalities" in the trust account of a big Auckland real estate business which trades as Harcourts.

    Kevin Lampen-Smith, authority chief executive, said today his organisation was working with Preet & Co and Harcourts as a result of its investigations.

  • Inland Revenue audits 16 multinational firms over tax

    The Inland Revenue Department is auditing 16 multinational firms over their use of transfer pricing to trim their annual collective tax bill by about $100 million.

    Revenue Minister Stuart Nash last week introduced legislation targeting the shifting of profits from one jurisdiction to another, and the bill should get its first reading in Parliament tomorrow.

  • Bitcoin frenzy has 'no brakes', surpasses US$14,000 mark

    Bitcoin is smashing through milestones at an ever-increasing pace.

    Less than a day after cracking US$12,000 (17,499), the cryptocurrency surged another 17 per cent to pass first through US$13,000 ($18,957) and then US$14,000 ($20,415) on Wednesday US time, according to research site CoinDesk.

  • Multinationals tax legislation introduced

    Legislation just introduced to Parliament will prevent multinationals from avoiding tax by shifting profits out of New Zealand, Revenue Minister Stuart Nash said today. The legislation also reflects an important objective of the Labour New Zealand First Coalition Agreement.

  • Financial advice Bill puts Kiwis needs first

    Financial advice Bill puts Kiwis needs first

    Commerce and Consumer Affairs Minister Kris Faafoi says the first reading of the Financial Services Legislation Amendment Bill in Parliament today is the first step in a significant package of changes to ensure all Kiwis can get good quality financial advice based on their individual needs. 

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