Dene Mackenzie

Plan needed for end of the boom

Plan needed for end of the boom

The Canterbury rebuild has peaked, according to Westpac economists. About 14,000 construction jobs could be lost in Canterbury over the next few years. A plan is now needed to manage the impact of the downturn on Canterbury's construction employment and the wider regional economy. Business editor Dene Mackenzie reports.

Help not as good as it seems: bank

Fonterra's offer of ''modest relief'' to its suppliers was not as encouraging as it first seemed, Westpac senior economist Michael Gordon said yesterday.

Opposition parties slam Govt over slashed Fonterra payout

The Government copped the full blast of blame from opposition parties following the release yesterday of a sharply reduced Fonterra payout for the current season.

Farmers cashing up assets

Farmers cashing up assets

Otago dairy farmers are selling what they can to generate cash flow as they face up to an immediate prospect of lower milk payout prices for the next 18 months to two years.

Operator tipped to top 300 unit goal

Recent land acquisitions have lifted retirement village operator Summerset Group's development pipeline to more than eight years at its current 300-units-per-year build rate, Forsyth Barr broker Suzanne Kinnaird says.

Unemployment levels rise in June quarter

Unemployment levels in Canterbury, Otago and Southland rose in the three months ended June, although Canterbury still has the lowest unemployment in the country at 3.3%.

Doubts about Customs tax collection

Doubts are emerging about how efficient cutting the threshold for paying GST on foreign products will be if the current clumsy collection process through Customs is relied upon.

RBA leaves cash rate at 2%

The Reserve Bank of Australia yesterday kept its official cash rate unchanged at 2% as focus shifts today to the Bank of England.

Focus on regional development need

Calls were made yesterday for Southland to develop a comprehensive regional development strategy, following the decision to keep the Tiwai Point aluminium smelter open.

High employment growth, but more jobless: economists

New Zealand is embarking on a period of high employment growth but also rising unemployment rates as labour supply outstrips job availability.