Wellington, June 9 NZPA - Retailer Postie Plus Group is reporting a 7.5 percent fall in third quarter sales to $29.5 million. That took sales for the nine months to the end of April to $95.3m, down 1.75 percent from $97m in the corresponding period a year earlier.
Wellington, June 6 NZPA - The spy scandal that engulf ed senior civil servant Bill Sutch had its final chapter today with the release of his Security Intelligence Service (SIS) file which vindicates him and provides relief for his family.
Wellington, June 5 NZPA - Westpac and ASB Bank cut fixed home lending rates today after the Reserve Bank signalled an interest rate cut by the end of the year.
By Simon Louisson of NZPA Wellington, June 5 NZPA - Reserve Bank (RB) governor Alan Bollard threw borrowers an interest rate lifeline today in the face of a rapidly sinking economy and inflation soaring to 4.7 percent.
By Simon Louisson of NZPA Wellington, June 5 NZPA - The Reserve Bank today said it expects the annual inflation rate to leap to 4.7 percent this year, the highest level in 18 years, but bank governor Alan Bollard still signalled a cut in interest rates.
Wellington, June 5 NZPA - A sharp decline in jobs and retail sales in the March quarter were insufficient to persuade Reserve Bank Governor Alan Bollard to cut interest rates today.
Wellington, June 4 NZPA - Personal and corporate income tax cuts are a good use of the budget surplus to counter economic slowdown, according to the latest OECD report on the New Zealand economy.
Wellington, June 3 NZPA - Prime Minister Helen Clark says opinion polls won't show the true level of the Government's support until the National Party reveals its policies and says how it will pay for them.
Wellington, May 30 NZPA - Lombard Group sank to a $21.8 million annual net loss after directors decided to write down its Lombard Finance and Investments Ltd business, which was placed in receivership in April.
Wellington, May 28 NZPA - Mortgage rate rises are costing families in Nelson an extra $50 million a year, Parliament was told today.
Wellington, May 27 NZPA - ANZ National Bank is increasing its short-term fixed mortgage lending rates tomorrow, but cutting some longer-term rates by 15 basis points. The owner of the ANZ and National Bank is also increasing deposit rates by up to 50 basis points.
Wellington, May 27 NZPA - Business confidence remains low in May, depressed by slowing economic growth and rising costs, the National Bank said.
The Government and National both believe large-scale tax cuts can be delivered without delaying mortgage interest rate relief for struggling families.
Wellington, May 23 NZPA - The Government and National both believe large-scale tax cuts can be delivered without delaying mortgage interest rate relief for struggling families.
By Simon Louisson of NZPA Wellington, May 23 NZPA - On Thursday week we are likely to know how much of Finance Minister Michael Cullen's budget largesse will be clawed back.
Finance Minister Michael Cullen has played what could be one of his last political aces and delivered tax cuts in his ninth budget today.
By NZPA Political Reporters Wellington, May 22 NZPA - Finance Minister Michael Cullen has played what could be one of his last political aces and delivered tax cuts in his ninth budget today.
Criminal prosecutions against finance companies that have misled investors will be funded from the Securities Commission's litigation fund, Commerce Minister Lianne Dalziel said today.
Wellington, May 21 NZPA - Criminal prosecutions against finance companies that have misled investors will be funded from the Securities Commission's litigation fund, Commerce Minister Lianne Dalziel said today.
Wellington, May 21 NZPA - Commerce Minister Lianne Dalziel this morning gave an impassioned plea for lenders owed money by people who invested in failed Blue Chip companies not to make demands until investigations are complete.
Wellington, May 20 NZPA - The International Monetary Fund (IMF) has raised concerns about disruptions to New Zealand's access to offshore funding, but says its sound banking system and focus on inflation would help cushion the economy.
Wellington, May 20 NZPA - Expectations of lower house prices in the next year have increased dramatically, the latest ASB housing confidence survey shows.
Wellington, May 16 NZPA - National says the Government's shared equity housing scheme has been announced several times before, while ACT has dismissed it as an election-year bribe.
Wellington, May 16 NZPA - The Government will spend $35 million on a two-year shared equity pilot to assist up to 700 households into starter homes, Housing Minister Maryan Street said in a pre-budget announcement this morning.
By Simon Louisson of NZPA Wellington, May 16 NZPA - Kiwibank today cut its key two-year mortgage lending rate for the second time in under a month. The state-owned bank cut its rate to 8.99 percent from 9.29 percent.
Next week's budget will deliver a mix of mild tax relief with investment and social spending as a tonic for the economic chills, Finance Minister Michael Cullen said today. Dr Cullen said his ninth budget would deliver a "real response" to the economic situation.
Wellington, May 9 NZPA - ASB Bank today lowered some its key fixed mortgage lending rates after wholesale rates plunged yesterday following shock jobs data.
Wellington, May 9 NZPA - The Warehouse became the second major retailer this week to announce falling sales. While it is blaming at least part of its downturn on a warm start to autumn, like Briscoe Group on Wednesday it is also feeling the pinch from tight economic conditions.
By Simon Louisson of NZPA Wellington, May 7 NZPA - Alarm bells ringing at bellwether stock Briscoe Group may be a general warning for the economy.
By Simon Louisson of NZPA Wellington, May 7 NZPA - Economists said today even the Reserve Bank is getting nervous as economic alarm bells start to clang louder.
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