An unnamed bidder for the Harbour City Centre building owned by upscale Wellington retailer Kirkcaldie & Stains has missed a deadline for confirming it was satisfied with due diligence and the agreement could be terminated if an extension isn’t sought. The Harbour City Centre building is valued at $46.55 million, according to the company’s 2012 annual report published last month, …

Ministry for Primary Industries Director-General Wayne McNee has approved co-funding from the Primary Growth Partnership (PGP) for the new Foodplus programme which will look at how more value can be generated from beef carcases. The PGP Fund is committing $43.5 million over seven years for the programme, which is worth $87 million in total and is being run by ANZCO …

Fiscal policy receives insufficient attention and will be a major drag on growth over the coming few years. Local government spending is also set to be sharply curtailed. These dynamics are compensated by the rebuild until 2014, but the net impact is monetary policy lower for longer. The DecemberMonetary Policy Statement is expected to be accompanied by a no change decision, …