Interest rates: the govt's medicine might be hard to swallow

Some businesses are starting to accept a "higher for longer" worldview regarding interest rates. (Image: Getty)

Mon, 13 May 2024

It is widely accepted that governments have little impact on the movements of markets. This is good for the current government because otherwise, the near-continuous downward slide of the S&P/NZ50 since the second week of March would look like a bad sign. By the close of business on Thursday the S&P/NZX50 had plunged to a near nine-week low, part of a downward slide it has been on since the coalition marked the end of its first 100 days. To the extent there is one cause for this doom and gloom it is likely the general det...

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Markets Market close

NZ sharemarket up 0.4% to end the week

The S&P/NZX 50 Index closed at 11,794.81, up 48.15 points or 0.41%.

Graham Skellern 6:12pm

Infrastructure

Work on first seven roads of national significance begins

The Govt is prioritising 17 Rons as part of its $22b land transport plan.

Rebecca Howard 11:30am

Work on first seven roads of national significance begins

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Liquidators investigate sale of three Pizza Hut stores

Maloita sold three Wellington Pizza Hut stores prior to its liquidation.

John Anthony 10:30am

Liquidators investigate sale of three Pizza Hut stores

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Briscoe Group says tax changes will hit FY net profit by $7.4m

New legislation affects depreciation on commercial buildings.

Rebecca Howard 11:00am

Economy

Core Crown tax revenue higher than expected in May accounts

Government tax intake is $1.57 billion higher than forecast, according to the latest Crown accounts.Treasury released the interim financial statements for the 11 months ended May 31 on Wednesday morning, which showed core Crown tax revenue was $111.12b.This was 1.4% more than the...

Staff reporters 04 Jul 2024