The margin between what
interest rates the Inland Revenue Department will pay on
under and overpayments of tax is set to increase sharply on
Sunday at a time when banks are under pressure to reduce
Historical data to be released tomorrow and Friday is
expected to show that New Zealand remains in recession and
the current account deficit, about $15 billion, remains a
central theme in rebalancing the economy.
Sharebroker ABN Amro Craigs will become Craigs Investment
Partners from August 31, reflecting that Craigs has
officially repurchased the 50% equity stake in the company
previous held by the Royal Bank of Scotland.
The Commerce Commission decision on the
pricing of competitors' access to Telecom's roadside
cabinets, known as the sub-loop, has been seen as a positive
decision for New Zealand's largest listed company.