Major American and European retail chains, once rising contenders for China’s highest consumer crowns, may be losing confidence on the mainland. American home improvement retailer Home Depot recently pulled out of China, while its British counterpart B&Q and the world’s largest retailer Wal-Mart have tapped the brakes on expansion projects. Caixin story here.

After today’s CPI figure we expect the Reserve Bank to cut the Official Cash Rate on October 25th in an effort to lower the exchange rate, the Employers and Manufacturers Association says. “The CPI figure indicates inflation has moved below the agreed target of 1-3 per cent required of the Reserve Bank leaving ample room for a cut to the OCR,” …

Commerce Minister Craig Foss has welcomed the passage of a Bill that enables greater cooperation between the Commerce Commission and its international counterparts. The Commerce Commission (International Co-operation, and Fees) Bill passed its third and final reading today. “This bill is another step towards creating a Single Economic Market with Australia,” says Foss. “The Commerce Commission will be able to …

Samoan Prime Minister, Hon Tuilaepa Lupesoliai Sailele Malielegaoi visits New Zealand later this week to mark the 50th Anniversary of the signing of the Treaty of Friendship between the two countries. “I visited Samoa in August to mark the anniversary, and I am pleased to host Prime Minister Tuilaepa for a return visit during this special milestone year in our relationship,” Prime Minister John Key said. …

Prime Minister John Key will host the President of the Philippines for discussions on two-way trade and other bilateral matters straight after Labour Weekend (October 22-23) President Benigno Aquino III – visiting NZ for the first time – will be accompanied by Secretary of Foreign Affairs Albert del Rosario, other members of the President’s Cabinet and a large trade delegation. …

Prime Minister John Key today outlined the Government’s next steps to prepare Mighty River Power for its partial sale in the first half of 2013. “I’m pleased to announce today Cabinet made three decisions regarding our shares sales programme,” said Key in a post-Cabinet press statement.  “First, the Government will not implement the Waitangi Tribunal’s ‘shares plus’ concept, or engage …

Hawke’s Bay deer farmers and Federated Farmers members, Tim Aitken and Lucy Robertshawe, are Marks & Spencer 2012 Farming for the Future Champion of Champions. “Marks & Spencer is a globally recognised brand which epitomises quality and environmental sustainability.  This is huge for us, for the FirstLight Foods group which sells our product to Marks & Spencer, our industry and …

The New Zealand dollar gained after exports to China, the country’s second-biggest trading partner, rose at the fastest pace in three months in September, easing concerns that the global economy is heading for another worldwide slowdown. The New Zealand dollar rose as high as 81.88 US cents and traded at 81.75 cents just after 8am, up from 81.60 cents at …

Minister for Tertiary Education, Skills and Employment Steven Joyce is leading a delegation to India to lift  New Zealand’s profile as a destination for international students and to support NZ tertiary institutions and companies seeking to grow their business in the Indian market. “India is New Zealand’s third largest source of international students with 12,358 students enrolled in courses in …

Auckland Mayor Len Brown says Korea is a major opportunity for export-focused Auckland businesses and wants Auckland to look to Korea as an example of successful strategic economic development. Len Brown is leading 17 Auckland businesses on a trade mission to Korea and Taiwan. In Korea, the delegation visited Auckland’s partner cities of Busan and Pohang, and the economic powerhouse, …