Euro zone leaders made Greece surrender much of its sovereignty to outside supervision in return for agreeing to talks on a bail-out but making the deal stick will be a major problem, Craigs Investment Partners broker Chris Timms says.
Labour yesterday continued with what is now being described as a cynical and well-thought out policy on blaming Chinese investors for skyrocketing Auckland house prices.
The percentage of sales from foreign countries from Standard & Poor's 500 companies with full reporting information increased in the latest financial year after five years of stagnation.
Skycity resource consent for the New Zealand International Convention Centre can proceed on a non-notified basis, meaning the casino operator can start construction by the end of the year.
Tomorrow and Friday are shaping up as two important days for the New Zealand economy, with some major data to be released which could influence Reserve Bank policy.
Finance Minister Bill English is off to China this week, a week in which China's equity markets and economic data are sure to make world headlines.
Auckland's overheated property market remained in the news yesterday, the Real Estate Institute reporting Auckland buyers were looking out of the region for properties, both as owner-occupiers and for investments.
The Green Party has given up on being regarded as a party of financial clout, pushing the role of finance well down its list of MPs in the latest reshuffle announced yesterday.
Real estate activity in and around Queenstown and Wanaka remained strong last month, Real Estate Institute of New Zealand figures released yesterday showed.
The Government accounts are likely to end the financial year well in surplus after the $1.2 billion surplus achieved in the 11 months ended May, documents released yesterday by the Treasury showed.
Retailer Smiths City Group used an $8.5 million insurance payout to substantially boost its reported profit for the year ended April 30.
Business confidence has slipped into the red for the first time since the February 2011 earthquakes, reaffirming the call for another interest rate cut by the Reserve Bank later this month.
The ongoing Greek debt crisis could mean further official cash rate cuts for New Zealand in the short term, with the first coming later this month.
Some homeowners may get caught up in the Government's proposed bright-line test, particularly if they are habitual renovators who buy and sell a home within a two-year period.
Workers are feeling less confident about the health of the labour market and the deterioration in dairy earnings is affecting confidence in the main milk-producing regions of New Zealand.
Greece will continue to dominate world market headlines this week but the GlobalDairyTrade auction results on Thursday will provide some local interest.
Efforts to bring an end to the Greek financial crisis increased yesterday, as United States Treasury Secretary Jack Lew urged a continuation of work towards a resolution. Mr Lew told Greek Prime Minister Alexis Tsipras that Athens and its creditors needed to continue working towards a resolution before a Greek referendum on the creditors' demands for austerity.
The New Zealand sharemarket was likely to follow the lead of Wall Street and head lower as the prospect of a Greek exit from the euro zone escalated, Craigs Investment Partners broker Chris Timms said yesterday.
The Government this week pushed on with legislation requiring the disclosure of IRD numbers of property sellers unless exemptions are made.
Grocery operator Foodstuffs SI overcame demanding retail conditions to report an improved operating profit for the year ended February 28, the annual report shows.
