Consumer confidence slumps
Consumer confidence has slumped to its lowest level in nearly three years in this month's ANZ Roy Morgan survey.
Consumer confidence has slumped to its lowest level in nearly three years in this month's ANZ Roy Morgan survey.
Dairy giant Fonterra cut 523 jobs yesterday - in a bid to cut its payroll bill by up to $60 million a year - on a day of bad news for the economy.
Hundreds of Fonterra employees and thousands of its farmer-shareholders have been dealt the twin blows of impending job losses and the prospect of a much lower farmgate milk price.
The New Zealand dollar dropped to a six-year low after a surprisingly sharp slump in dairy prices fuelled concerns about the broader economy.
Reserve Bank may take interest rates to a new record low by October.
Confidence fell as households turned sour on the economic outlook, although more remain positive rather about their personal situation.
Chief Theo Spierings admits news unsettling for staff as co-op tries to reduce its payroll bill by up to $60m a year.
Liam Dann says axing 523 jobs may make financial sense to Fonterra's chiefs but the dairy slump is bigger than that.
The dollar plummeted after whole milk powder fell more than expected in the GlobalDairyTrade auction overnight.
Wall Street moved lower overnight as Greek lawmakers prepared to vote on a proposal that would secure its third international bailout.
Dairy prices have plunged in the latest world dairy auction, taking the Kiwi dollar down with it.
The dollar gained as an unexpected decline in US retail sales raised speculation of a delayed increase in US interest rates.
US retail sales slid 0.3pc in in June, the weakest since February, lowering expectations the Fed will hike interest rates in September.
Greece's capitulation to the demands of its euro creditors is a resounding victory for the common currency and takes the eurozone a step closer to common government.
Auckland is well placed to take advantage of growing global economic uncertainty to accelerate the city’s big projects, writes Michael Barnett.
A slowdown in the Chinese economy isn't expected to crimp demand for education in New Zealand.
Divided eurozone leaders clash over the fate of Greece with a catastrophic exit from the single currency looming large as they struggle to reach a bailout deal.
It's impossible to know where the rout of Chinese stocks will end but there's little doubt its effects will wash over Australia one way or another, says Christopher Niesche.
The dollar weakened as Eurozone leaders stepped up their demands for Greece reforms at meetings over the weekend.
Five months of negotiations in which its Government destroyed goodwill among creditors that have lent it hundreds of billions of dollars have cost Greece dearly.
The rout in the New Zealand dollar appears to be over, for the moment at least.
Gabriel Makhlouf says the Government should stick to its fiscal strategy, despite falling dairy prices and rising global turmoil.
The boost was fuelled by a rebound in both domestic and international travellers and a lift in South Island and hotel park stays.
The dollar was little changed as risk sentiment improved following a bounce in Chinese equities and new Greece proposals.
Equities advanced, while US Treasuries fell, after Chinese stocks bounced and Greece prepared to submit fresh proposals.
Is the emissions-reduction target the Government announced this week ambitious, as it says, or feeble and inadequate, as its critics say?
Chinese stocks staged a spectacular comeback yesterday after Wednesday's horror losses.