Uncategorized

The government is to proceed with new a regime allowing start-up companies to cash out all or part of their tax losses from research and development expenditure, and to write off “black hole” R&D spending on unsuccessful projects. The announcements are expected to cost the government around $58.1 million over four years and follow a consultation process in which both …

Six years ago, just before the global financial crisis but as a local recession was taking hold, then Finance Minister Michael Cullen delivered substantial tax cuts in the last Budget of the Labour-led government’s nine year reign. With a general election looming, it looked like the kind of Budget the Finance Minister in a National-led government might have liked to …

The New Zealand Debt Management Office will lift issuance by $3 billion over the coming four years on a slower forecast return to cash surplus. The DMO will raise $8 billion in 2014/15, and $7 billion each of next three years, with an extra $1 billion to be issued in 2015, 2017 and 2018, it said in a statement. The …

The government sees faster growth in the coming years as 40-year high terms of trade and an improving labour market drive increased consumer spending, and as the Canterbury rebuild looks like lasting longer than previously thought. Gross domestic product is thought to have accelerated to 3 percent in the year ended March 31, 2014, before peaking at a decade-high 4 …

The pace of expansion in New Zealand’s manufacturing sector eased in April, to dip below the 4-month average, as two consecutive long weekends weighed on production. The BNZ-Business NZ seasonally adjusted performance of manufacturing index fell to 55.2 in April, from a downwardly revised 58 in March, and 55.9 in April last year. A reading above 50 indicates expansion in …

Ryman Healthcare, New Zealand’s largest listed retirement village operator, lifted profit 43 percent as it gained more revenue from a larger base of villages and the value of property increased. Net income rose to $194.8 million, or 39 cents a share, in the 12 months ended March 13, from $136.7 million, or 27.3 cents, a year earlier, Christchurch-based Ryman said in …

The New Zealand dollar jumped to a one-month high against the British pound after the Bank of England dashed the hopes of some investors who had expected it to signal a tightening in monetary policy. The kiwi touched 51.72 British pence early this morning, and was trading at 51.62 pence at 8am in Wellington, from 51.38 pence at 5pm yesterday. The local …

Wall Street slipped from record highs as some investors took the opportunity to lock in profits on a day without immediate impetus to drive valuations higher and disappointing corporate results such as from Deere. With about an hour of trading left in the day in New York, the Dow slid 0.38 percent, the Standard & Poor’s 500 Index fell 0.19 …

Matthew Olde, who helped manage MightyRiverPower’s IPO, has been tapped by the government-controlled energy provider to become chief executive of its Metrix metering business. The Auckland-based company is targeting growth through its Metrix service, which provides electricity retailers and companies with ‘smart’ meters, and is currently New Zealand’s second largest provider of meters, MRP said in a statement. Olde has …

Morrison & Co, the Wellington-based investment manager that founded Infratil in 1994, says clients taken on since then are potential partners of the listed fund and provide a wider scope for assessing business opportunities. Morrison & Co Infrastructure Management was paid a management fee of $19 million by Infratil for the year ended March 31, down from $19.7 million a year …