More broadly, US mortgage applications sank -5.7% last week from the previous week, the most since mid-February, and ending three consecutive rises. The retreat follows a fresh rise in benchmark mortgage rates, above 7% and following the rise in long-date Treasury yields. The median yield today was 4.59%, down marginally from the 4.66% at the prior equivalent event a month ago. The German CPI inflation rate edged higher in May to 2.4%, a marginal increase from their 2.2% April rate. Wall Street has slipped again today as rates rise further with the S&P500 down another -0.7% in late Wednesday trade.

The Commission adds the increases to household electricity bills will differ depending on location. “Some companies have forecast that they require an increase in investment that is as much as three times higher than their historical spend. Transpower and local lines companies face higher costs and more expensive borrowing and materials, as well as inflationary pressures since the last revenue review that took place in 2019. That’s why we’re proposing to increase the amount of revenue Transpower and local lines companies can earn," McWha says. The Commission's draft decisions for Transpower and the local lines companies will now go into consultation over June and July, before a final decision is made in November.

Te Pāti Māori and others connected to the Toitū Te Tiriti (Honour the Treaty) movement have called for strikes as a follow up to last year's National Māori Action Day. Organisers called for all Māori and Tangata Tiriti to go on strike and protest the government's policies affecting Māori. "We're asking for a Māori strike and our people should turn out," Te Pāti Māori's Rawiri Waititi said yesterday. ADVERTISEMENT"Motorists in areas likely to be affected are advised to plan ahead to mitigate any disruption to their travel. He thought it was "wrong" for Te Pāti Māori to be advising people to take the day off work.

Gas Stations sit the very intersection of transport, land use, and the energy transition, so are interesting to watch. The three buildings shown here are all on the sites of former gas stations in central Auckland. Like fast food chains the business model for urban gas stations is less about the income from their main product than you might imagine. The more a street or road is de-valued by high traffic volumes, and/or low density and light industrial zoning, the more likely its gas station will persist. We are clearly past the peak of urban gas stations and will only see decline from here on in, right down to zero.

Ahead of Budget 2024, let's recap what we know about Covid restrictions, vaccines, tests, and more. It is unclear whether the supply of free RATs and masks will be extended beyond the mid-year deadline. Initially, Covid vaccines and treatments were paid for from a separate fund provided by the government. Now, Covid vaccines and treatments need to be prioritised against all the other medicines, medical devices, vaccines, and related products funded for New Zealanders. While the Covid vaccines do not necessarily stop someone becoming infected, they remain good protection against severe illness and death from the disease.

A cashless society was one of them. Basically, the premise of the article was; if we lived in a totally cashless society all our money would be in a government-controlled bank. In this futuristic cashless society, it would work like this. In this cashless society scenario how are you supposed to save for retirement? Practice the pain/ pleasure principle.

Ahead of Budget 2024, let's recap what we know about Covid restrictions, vaccines, tests, and more. It is unclear whether the supply of free RATs and masks will be extended beyond the mid-year deadline. Initially, Covid vaccines and treatments were paid for from a separate fund provided by the government. Now, Covid vaccines and treatments need to be prioritised against all the other medicines, medical devices, vaccines, and related products funded for New Zealanders. While the Covid vaccines do not necessarily stop someone becoming infected, they remain good protection against severe illness and death from the disease.

Michael Stiassny, the chairman of Tower Insurance, says New Zealand’s banks are “missing in action” when it comes to taking steps to mitigate climate risks in their financial frameworks. Stiassny said the Reserve Bank (RBNZ) had called on insurers “and more notably the banks” to take action in its recent Financial Stability Report which was published in April. Tower chief executive Blair Turnbull told interest.co.nz after the briefing that while insurers had to play a lead role, climate change was a “team sport”. Suncorp NZ reported its GWP was up by almost 20% to $1.4 billion while IAG NZ reported its GWP climbing 18.8% to over $2 billion. Despite being up against some hefty Australian-owned general insurance competition, Turnbull told interest.co.nz Tower believed it could be the “leading provider of insurance”.

The screws are tightening for home buyers, with the Reserve Bank announcing new restrictions on the amount people can borrow. The central bank has decided to introduce a DTI of six, meaning any lending over that ratio will come with special rules for banks. But it does depend how much LVR lending the bank has also made. ExemptionsThere will be some exemptions, the Reserve Bank said. Reaction from economistsWestpac's economists were quick to react to the move by the Reserve Bank today.

In an Instagram post published jointly with Te Pāti Māori, organisers called for all Māori and Tangata Tiriti to go on strike on Thursday and protest the government's policies affecting Māori. That would be illegal," he said, pointing out it was "pretty clear what the rules are around strike action". He thought it was "wrong" for Te Pāti Māori to be advising people to take the day off work. (Source: 1News)She said it was nice of Luxon to give Te Pāti Māori the full credit for the protest, but it was "quite insulting to iwi and hapū in my opinion". Peeni Henare at the 2022 Budget (Source: 1News)"We shouldn't be surprised.

Follow the podcast onFerry operator Bluebridge has been warned by the Commerce Commission after over compensation for cancelled ferry sailings. NZ Herald Wellington Issues reporter Georgina Campbell is across the issue and joined Nick Mills for her weekly slot. LISTEN ABOVE

Video / AP / NZHeraldThe daughter of a roadworker killed by a truck says he’d previously spoken about his fear of being hit due to the number of trucks that sped through work sites. An investigation revealed Stacy was speeding and the service brakes on his truck, which was transporting dirt from a nearby slip, were only working at 33 per cent capacity. On the morning of February 12, Stacy was driving a McGowan Transport truck that was helping repair a slip on the SH23 deviation. “This is not a situation just simply of a truck driver driving too fast and being careless in wet conditions,” he said. He noted there was “reasonably strong evidence” to suggest Stacy’s truck was travelling at 35km/h just prior to the checkpoint, which wasn’t too dissimilar to a truck travelling immediately before it at 28km/h.

Here's our summary of key economic events overnight that affect New Zealand, with news global markets are putting upward pressure on interest rates and that is spilling over to our local markets. In another very well supported US Treasury bond auction, this one for the five year maturity, the median yield fell to 4.48% pa from the prior event's 4.59%. It seems financial markets are persuaded that inflation is decreasing now and higher yields are not required. But the US Treasury two year bond auction was considered 'soft' by market observers despite its even better support levels. The Australian 10 year bond yield is now at 4.39% and up +7 bps.

Now, her partner Leigh Matthew Frederick Beer is on trial for her alleged murder and arson. Now, her partner Leigh Matthew Frederick Beer is on trial for her alleged murder and arson. The Crown has alleged Beer overturned the bed she was asleep on, set fire to it, and “left her to burn to death”. Clarke alleged Beer went back inside the flat and into the bedroom where Field was asleep. Beer allegedly flipped the bed and mattress and Field ended up between a wall and a bedside table, face up, under the bedroom’s window.

The Defence Force "stands ready" to respond to Papua New Guinea's devastating landslide with $1.5 million in relief support pledged, the Government has announced. More than 2000 people were buried alive by Friday's landslide in remote Enga province, according to the Papua New Guinea (PNG) National Disaster Centre. Foreign Minister Winston Peters and Defence Minister Judith Collins released a joint statement outlining the New Zealand Government's response early this evening. (Source: Getty)ADVERTISEMENTPeters said: "We are ready to go and provide support to PNG authorities when they are able to receive it. (Source: New Zealand Defence Force)Peters said the aid had been "estimated to be worth around $1.5 million".