News

'Bumper lift' for dairy prices in latest auction

Prices for whole milk powder rose 5 percent.


Booming housing market benefiting forestry

Around half of all logs harvested in New Zealand go to the domestic market.


Chinese dissident targets Apple, Nike, others after report says they lobbied to weaken forced labor bill

An artist targeted several multinational corporations after a report that they lobbied to weaken a U.S. bill banning imports made using forced labor.


Putting Fonterra's esports skill assessment tech to the test - how accurate is it?

The dairy company sees potential in the gaming industry, but is being met by scepticism.


'Phenomenal': ASB predicts GDP to shrink just 3 percent, 'far better than previously expected'


White House communications director Alyssa Farah resigns in final days of Trump administration

Farah's exit signals acknowledgment that the Trump administration will soon end, but the president still is refusing to concede to Biden.


Why this year's Boxing Day sales might not happen

As long as we can keep the virus out, Christmas won't be cancelled - but Boxing Day might be.


Higher wages: If not now, when?

We have been a low wage, low productivity economy for too long but Covid could be the impetus for new, inclusive, policy settings that change that


Warren Buffett's Berkshire Hathaway will hold its May annual meeting virtually again

Berkshire's annual meeting typically sees tens of thousands of people descend on Omaha.


Would you be willing to get a Covid vaccine in exchange for a $1,500 stimulus check? How one bold proposal would work

Americans want more stimulus checks. The government wants them to get Covid-19 vaccinations. One former politician has a plan that aims to please both.


ACC records paper loss of $5.9 billion

The Accident Compensation Corporation made a paper loss of $5.9 billion as falling interest rates pushed up the cost of future injury claims.


Government's finance books stronger than expected

The government's finances are in much better shape than expected, with strong domestic spending propping up the tax take.


MediaWorks TV acquisition: Discovery to combine businesses across NZ, Australia

It's Discovery's most significant free-to-air investment in the New Zealand market to date.


AWS launches EC2 computing instances that run Apple's MacOS operating system

Apple's relationship with Amazon just got deeper, as Apple makes it possible for its developers to rely on Amazon's cloud to test applications.


Obama, Bush will take coronavirus vaccine and might film it to build confidence

Former Presidents Barack Obama and George W. Bush said they will take a Covid vaccine and may film it to build confidence in the U.S. about vaccine safety.


Green Party won't vote to support Government's top tax rate change Bill

"We could not in good conscience support legislation that is likely to lead to worsening wealth inequality."


5 things to know before the stock market opens Thursday

U.S. stock futures were steady Thursday morning, one day after the S&P 500 closed at another record.


Biden endorses the latest bipartisan Covid stimulus deal, says it 'a good start'

Biden said that "more than several sitting Republican senators privately called to congratulate" him in spite of President Donald Trump's refusal to concede.


Elizabeth Holmes' trial to play out before face-masked jurors in socially distanced courtroom

The trial is scheduled to begin March 9, 2021 after being delayed due to the pandemic.


Trouble continues for company behind Nido furniture as it falls into receivership

The receivership follows the liquidation of Nido's builder in November.


Apple fined $17m over iPhone water resistance claims

Italian authorities have ruled the claims don't hold up in real-world testing.


Record number of people waiting for social housing

The social housing waitlist has hit a record high, with nearly 22,000 applicants on the register.


Biden warns the economy is stalling after 'dire' jobs report, calls for 'urgent action' on Covid stimulus

Biden said Friday's underwhelming jobs report foreshadows a "dark winter" that demands "urgent action" from Trump and Congress.


Singapore's largest bank DBS outlines 12 trade ideas for 2021

World economies look set to rebound in 2021 from the pandemic-induced slump, with those in Asia likely leading the way, said Taimur Baig of DBS Bank.


'My husband was able to leave his day job at 41': Mentor says investing in property can help people get ahead faster

How do Kiwis manage their money?


Superloans firms 'likely to have breached' Act, Commerce Commission finds

Two companies within the Superloans group have been warned by the Commerce Commission after an investigation following a number of complaints from consumers and budget advisors.


Tower to offer boat insurance renewal for Club Marine policy holders

Club Marine is quitting New Zealand and will refer customers renewing policies to Tower, which is also going to offer a new boat insurance product to the local market.


Christmas tree sales are telling a holly, jolly economic story

Tree sales are up 29% so far in 2020, according to a survey of retailers done by Evercore ISI.


“A call to action for the private sector”: New Zealand declares climate emergency

New Zealand has declared a climate emergency, with Jacinda Ardern saying the symbolic gesture is “an acknowledgement of the next generation”.


Fonterra raises forecast milk price as first-quarter earnings up in 'solid start' to year

The higher forecast was driven by demand from China.


McConnell says a Covid stimulus compromise is within reach — 'We can do this'

Senate Majority Leader Mitch McConnell said he sees "hopeful signs" for striking a coronavirus stimulus deal before the end of the year.


Amid coronavirus, donations set to spike on Giving Tuesday

Nonprofits helping those directly impacted by the coronavirus crisis could get an unprecedented bump on Giving Tuesday.


'Every politician is scared' of house prices falling - Don Brash

"The challenge is to fix the housing market and get re-elected... Labour and National have failed."


Biden says $1,200 stimulus checks 'may be still in play' in Covid relief talks

"I think it would be better if they had the $1,200 [payments to families]" in the Covid relief package, Biden said at a press conference.


Have you done your Christmas shopping yet?

If not, what's holding you back?


Britain's Covid vaccine approval could 'set the pace for the rest of the world'

The U.K.'s decision to grant emergency approval to Pfizer and BioNTech's vaccine will likely lead other countries to quickly follow suit, one economist said.


Many of NZ's coastal homes will be uninsurable in 15 years, report predicts

The risk posed by rising sea levels was examined on about 10,000 homes in four major cities.


CDC's new Covid quarantine guidance criticized for addressing the wrong problem

Ellie Murray, an epidemiologist at Boston University, said the new guidance feels something like a compromise by the CDC, or a negotiating tactic.


Apple offers free fix for iPhone 11 devices that no longer respond to touch

The replacement program doesn't cover other models, like the iPhone 11 Pro.


Since Congress can’t agree on a stimulus bill, states and cities are providing relief

Some state and city officials are offering extra financial assistance to their residents as action on Capitol Hill remains elusive.


'Prices pushed upwards': Asking price for houses up in November nationally

The national average asking price in November reached $797,156, up 17.1 percent year-on-year.


'Where did he get 5 percent from?' Labour's target for Māori share of public service contracts challenged

Māori Party co-leader Rawiri Waititi asked why the procurement target isn't 16 percent to reflect the Māori population.


Buying local for Christmas

A new startup is urging Kiwis to buy local and support small businesses when shopping for Christmas this year.


Singapore issues first regulatory approval for lab-grown meat to Eat Just

Singapore Food Agency has approved Eat Just's cell-cultured chicken, which paves the way for lab-grown meat to be eaten by consumers.


Completely driverless cars are being tested in China for the first time

Alibaba-backed AutoX said this is the first time a "completely autonomous fleet" without any safety drivers or remote operators is on the streets of China.


New Zealand's best firms a 'long way behind' in productivity

Even New Zealand's most innovative firms are about half as productive as their counterparts in other small advanced economies, a Productivity Commission report suggests.


Phil Goff proposes 'one-off' 5 percent rates increase after 'unprecedented' $1b loss

"This not a slash-and-burn budget but it's also not the budget we had hoped to put out."


Singapore and Hong Kong push back their travel bubble again, this time beyond 2020

Both sides said they will review the arrangement again in late December to decide on a start date.


Huawei says it's sold 1.2 million phones in NZ so far

The company has just celebrated 15 years of operation in New Zealand.


BNZ let off likely responsible lending breaches with warning

The Commerce Commission says it's likely BNZ failed to meet lending and disclosure obligations.