Jenee Tibshraeny: Government Covid-19 management impacted import demand
The International Money Fund is warning the Government to rein in spending. S&P Global Ratings is also saying the country's near-record trade deficit remains a “key credit risk” for New Zealand. NZ Herald Wellington business editor Jenee Tibshraeny says the Government did a lot to stimulate the economy during Covid-19, creating more demand for imports. "What we saw was demand for imports shot up- we all did lots of online shopping. Tourism, export education, that all dropped off."
Source:New Zealand Herald
June 14, 2023 08:48 UTC
Daily review 14/06/2023
Written By: notices and features - Date published: 5:30 pm, June 14th, 2023 - 14 commentsCategories: Daily review - Tags:Daily review is also your post. This provides Standardistas the opportunity to review events of the day. The usual rules of good behaviour apply (see the Policy). Don’t forget to be kind to each other …Share this: TwitterFacebook
Source:New Zealand Herald
June 14, 2023 08:45 UTC
Stuff and others agree content deal with Google
Unlock all stories free for 10 daysStay informed on business, government and financial developments across New Zealand from our team of 27 journalists. Deeply researched, twice-edited and fact-checked newsReporters in Auckland, Hamilton, Tauranga, Wellington, Christchurch and QueenstownPersonalised email news alerts, plus gift up to 5 stories a month to non-subscribersAccess to FundSource - the deepest data on KiwiSaver and managed funds, updated dailyWorld news from The Economist and BloombergWe won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more. We are serious about journalism.
Source:Stuff
June 14, 2023 06:43 UTC
David Day joins Special London as Chief Creative Officer
Independent creative agency Special has appointed David Day as Chief Creative Officer. Day joins Jennifer Black, CEO and Emily Harlock, CSO to form the leadership team for the London agency. In his time at CPB London, Day has grown the creative agency winning multiple accounts including The Glenlivet, Tinder, Asics and most recently Marie Curie. Last month, Special New Zealand was named ‘Global Creative Agency of the Year’ by Campaign for the second time in as many years. Day will lead the London office of Special alongside Black and Harlock, bringing his start-up experience, creative leadership and pitch-winning talent to grow the agency and drive its creative and design output.
Source:Stuff
June 14, 2023 06:21 UTC
Wow, Lesbians just got erased
Johns Hopkins Sparks Backlash by Defining Lesbians As ‘Non-Man’Outrage has been expressed online at Johns Hopkins University over its non-binary-inclusive definition of “lesbian” in its glossary of LGBTQ+ terms. The new woke word conclave just erased lesbians. TDB Recommends NewzEngine.comHas it occurred to anyone that lesbians liked being women and not non-men? Remember, if you have ANY issue with Lesbians being erased, the Disinformation Project will come after you! Drag zoom panels???
Source:New Zealand Herald
June 14, 2023 05:21 UTC
Historic war cannon spirited away in middle of night
CCTV captured the moment thieves took off with war cannon away from Ōkahu Bay. Photo: PoliceNew images show the moment thieves took off with a 205-year-old decommissioned war cannon on the back of a truck in the middle of the night. At around 3.15am on June 1, thieves used a crane to lift the weapon onto the back of a blue flatbed truck. At the time it was in storage at the Ōrākei Marina near Ōkahu Bay in Auckland and was just hours away from its relocation to a secure storage site, as reported by Stuff. The Crimean War cannon, which has been in Auckland for 163 years and situated at Ōkahu Bay for 71 years, was gifted to New Zealand in the mid-1800s.
Source:Otago Daily Times
June 14, 2023 04:45 UTC
/cloudfront-ap-southeast-2.images.arcpublishing.com/nzme/5535P7LVPIY5JZ4Z6YEHRNMZ54.jpg)
IMF calls for tax reform and more disciplined govt spending
The IMF suggested the personal income and corporate tax rates could be cut, and a comprehensive capital gains or land tax introduced. Inflation is pushing low to middle-income earners into high tax brackets. As for interest rates, the IMF warned there was a risk the Reserve Bank of New Zealand (RBNZ) would need to raise the official cash rate (OCR) even more. On the flipside, it said rising net migration could ease labour constraints, which could lower inflation and bring interest rates down more quickly than expected. In fact, the IMF said financial stress caused by high interest rates should be addressed through financial stability tools like LVR rules.
Source:New Zealand Herald
June 14, 2023 04:19 UTC
/cloudfront-ap-southeast-2.images.arcpublishing.com/nzme/7AAO3TBIJ5HAFBTSOSYOQ32OPU.jpg)
National leader Christopher Luxon clarifies ‘wet, whiny’ remarks, says he’s a patriot
Luxon says his comments were referring to Labour Government and that NZ has amazing people. Photo / Alex CairnsNational leader Christopher Luxon has declared himself a patriot and distanced himself from his comments calling New Zealand a “wet, whiny” country. When asked about how his policy may breach this right Luxon said: “I don’t care. If caught showing gang colours in public, members of 46 alleged WA gangs can face up to a year in jail and fines between roughly NZ$13,000 to $67,000. Luxon made announcements on banning gang patches and giving police power to issue dispersal notices in June last year.
Source:New Zealand Herald
June 14, 2023 02:14 UTC
Bewildered driver awoke in paddock
A woman driving to Dunedin woke up in a paddock with no memory of how she got there. Senior Sergeant Anthony Bond, of Dunedin, said the 58-year-old woman was on her way back to Dunedin from Waimate on State Highway 1 when she fell asleep behind the wheel at 10pm on Monday. When police found her she said she woke up in the paddock and could not remember how she got there. She was assessed by Hato Hone St John ambulance staff and had sustained no injuries, Snr Sgt Bond said. Her car, which remained in the paddock overnight, was be towed away yesterday.
Source:Otago Daily Times
June 14, 2023 02:03 UTC
When it comes to mangoes, New Zealanders aren’t getting the good stuff
Bansari Patel’s sticky hands after preparing mangoes (Image: Supplied)For 23 years, mangoes were a beloved part of Patel’s life. “Compared to Indian mangoes, nothing comes close.” The mangoes she tried were “stringy” or “crunchy”. The Indian mangoes that do arrive come in trays of six or 12, tenderly packed in foam to stop them from bruising. Most New Zealand mangoes come from Australia, México and Perú. I found her in a social media group, asking if anyone knew where to get Indian mangoes.
Source:Stuff
June 14, 2023 01:41 UTC
Big profits not to blame for inflation, report suggests
While the price of goods and services has risen sharply, big business profits are not to blame for inflation in this country, a new report suggests. In Australia, a think tank found profits were a big driver of recent inflation. Sense Partners economist Shamubeel Eaqub said there was no evidence of widespread increases in profit margins driving up inflation in New Zealand. He said there had been periods where profit margins had grown substantially, especially after the mid-1980s economic reforms through to around 2000. "This report uses data from StatsNZ to show that increased profits are not driving inflation and that profits are actually leaner than they were pre-Covid.
Source:Stuff
June 14, 2023 01:00 UTC
Local councils will be given power to decide where carbon farms are planted
The Government will devolve the authority to make decisions about where pine forests can be planted to local councils. This concerns the Climate Change Commission which thinks carbon offsets may be less effective at preventing climate change in the long term, compared with gross reductions. For example, Canada’s pine forests are becoming a net source of carbon emissions due to forest fires and insect outbreaks. Today, the Labour government has granted some of what Kirton requested by giving councils’ the authority to determine where, and how much, carbon forestry can occur. Local councils will be empowered to decide which land can be used for plantation and carbon forests through the resource consent process.
Source:Otago Daily Times
June 13, 2023 23:42 UTC
Open mike 14/06/2023
The Independent Electoral Review out today has included a recommendation to ‘affect the Treaty of Waitangi andPrinciples’ and make it one of the Act’s ‘explicit objectives’. What ‘principles’ are they talking about exactly? Our Electoral Act is the foundation of unwavering equality for every New Zealander
Source:Stuff
June 13, 2023 23:17 UTC
‘Big, patriotic Kiwi’: Luxon quizzed on ‘negative, wet, whiny’ comment
The Opposition leader Christopher Luxon says New Zealand needed its "mojo" back. National Party leader Christopher Luxon says New Zealand is a "country of endless potential", after being asked about his comments that New Zealand had become a "very negative, wet, whiny, inward-looking country". Luxon made the "wet" comments on Monday while he was in Helensville announcing the National Party's new agricultural emissions policy. He can be heard on a 1News video then telling farmers: "We have become a very negative, wet, whiny, inward-looking country and we have lost the plot." Asked on Tuesday if that's how he felt about New Zealand, Luxon said, "no, I think this is a country of endless potential".
Source:Stuff
June 13, 2023 23:03 UTC
Breakfast briefing: Inflation in retreat
Here's our summary of key economic events overnight that affect New Zealand, with news inflation seems to be in retreat in all major economies. But excluding food and energy costs, American inflation was up +5.3%, so inflation clearly isn't beaten yet. Faster-falling inflation levels, no matter which index you choose to watch, does support the idea that the Fed may choose to pause its current cycle of monetary tightening. German economic sentiment also stopped falling in the latest ZEW survey. But the NZ Government 10 year bond rate is still at 4.55%, and little-changed.
Source:Stuff
June 13, 2023 22:42 UTC