NZ Dairy prices fall again

At overnight auction, dairy prices fell by 3.6 percent to an average price of $US2620 a tonne. Whole milk powder dropped by 4.3 percent while skim milk powder fell 7.8 percent. AgriHQ analyst Susan Kilsby of AgriHQ said she also expected a further fall, as there was still a global over-supply of milk. She expected…

Auckland housing market breaks all records

Unprecedented sales activity in March has seen Auckland’s residential housing market establish new records for prices and sales numbers. The average house price is even more expensive than in Sydney, with the gap widening as a stronger Kiwi dollar heads towards parity. The Australian Business Insider reports– Barfoot & Thompson, the largest agent in the…

Caution needed on global procurement deal

John Key and the National government are trumpeting an international agreement that they say will open up a $US1.7 trillion market to New Zealand exporters. Forty-three World Trade Organisation members, including Hong Kong, the European Union and the United States, are already signed up. Trade Minister Tim Groser said the deal is a huge bonus…

NZ’s Wesley Mouch speaks out for more taxes

Wesley Mouch probably has the most appropriate name in the book Atlas Shrugged, since he’s basically a moocher. He rides other people’s coattails into positions of power and influence, then proceeds to do a terrible job. For some strange reason the character of Wesley Mouch came to mind as a I read a NZ Herald…

China- Economy indicators at multi-year lows

Reuters reports The downward pressure on China’s economy has intensified since the start of 2015 but the economy remains resilient, the National Bureau of Statistics said. Letting the economy slow appropriately could force companies to restructure and climb up the value chain, the bureau said. The bureau also said its survey-based unemployment rate was around…

Oil stockpiles hit record high

West Texas Intermediate sank $1.12 in New York and Brent tumbled 46 cents in London on Thursday after a government report showed surging US stockpiles, adding to a global oversupply. The US Department of Energy on Wednesday said inventories hit a fresh record high of 448.9 million barrels last week, while stockpiles at the Cushing…

National- we’re here to make you pay more

From 1 April, the NZ ACC Work Account levy will drop from 95 cents per $100 of earnings to 90 cents – a 5 percent drop. However, ACC itself had recommended a 21 percent drop. Labour’s Sue Moroney said it was not the first time the Government had rejected ACC’s recommended levies, including the 2013-2014…

Kiwiblog comes out against state ownership

Impressed to read David Farrar’s post the other day stating the “State should not own commercial companies” It made me think for a second what the difference might be between a “commercial” company and any other company, but I couldn’t come up with an answer. He went on to say- I don’t want my taxes…