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The government is reactivating its relationship with Datacom, the New Zealand firm that managed teacher payrolls before they were switched to the glitch-plagued Novopay system last year. The senior Minister made responsible for handling the Novopay debacle, Steven Joyce, announced a series of steps today, including “investigating a revised contingency plan led by the acting Secretary of Education, who has …

Australian supermarket chain Woolworths, which accounts for about 40 percent of New Zealand’s supermarket sales, increased first-half revenue 2.3 percent on this side of the Tasman, even as trading conditions remain tough and consumer price growth non-existent. The group’s New Zealand supermarkets increased sales to $2.94 billion in the 27 weeks ended Dec. 30 from $2.88 billion a year earlier, …

Four in 10 people plan to raise their credit limit during the next three months as they feel more comfortable about their financial situation and contemplate major purchases. The figure in Dun & Bradstreet’s consumer credit expectations survey for the March 2103 quarter is up from one in four during the December quarter and has risen 35 percent in the …

New Zealand’s highest court has begun hearing the final stage in a challenge by Maori to require settlement of Treaty of Waitangi claims to freshwater before any partial privatisation of state-owned power companies goes ahead. buy online essays Colin Carruthers QC opened submissions for the New Zealand Maori Council before a full five judge bench of the Supreme Court, in …

Accounting software firm Xero had $85 million of cash at the end of 2012 after raising $60 million in a private placement in December. The figure is revealed in its first quarterly cashflow report, which is required by the ASX. Xero took up a secondary listing on ASX in November. The report shows net operating and investing cash outflows for …

Reserve Bank governor Graeme Wheeler singled out rising house prices as a threat to the country’s financial stability and kept the official cash rate at 2.5 percent, as expected, saying the overvalued New Zealand dollar was holding consumer prices below the bank’s target band. “The bank does not want to see financial stability or inflation risks accentuated by housing demand …

New Zealand Bloodstock’s 2013 premier sale wrapped up at Karaka on Tuesday with 323 of the 441 lots sold. The total raised of $51.05 million was $3.085 million less than in 2012, with 27 fewer horses sold. The sale average of $158,054 is a 2 percent increase on last year’s figure, while the median was unchanged at $120,000. The clearance …

GFNZ Group, the former Geneva Finance, has raised $1.66 million from eight professional investors, two of whom are directors. The NZAX-listed automotive industry financier placed $2.075 million of new business receivables into Prime Asset Trust and used this as security to raise the money. In August, it placed $3.3 million of new business receivables into the trust as security to …

The members of a “shadow board” looking over the shoulder of Reserve Bank of New Zealand governor Graeme Wheeler are more in favour of a cut in the official cash rate than a rise. Economists widely expect Wheeler to hold the official cash rate at 2.5 percent on Thursday and that is also the official line of the New Zealand …

The New Zealand dollar is firm, reflecting indications of improving European economies and the expectation that central banks in New Zealand and the United States will keep policy easy this week. The kiwi was at 83.73 US cents at 8am, up from 83.61 US cents at 5pm on Tuesday. The international backdrop is looking better with the Dow Jones Industrial …