On the day Fisher and Paykel was sold overseas Rakon outsourced high-paying jobs to Asia, marking a dark day for Kiwi high-tech manufacturing, says Labour’s Economic Development spokesperson David Cunliffe. “Today New Zealand technology manufacturing lost an icon and 60 good jobs overseas. It’s a dark day for high-tech manufacturing and exports in New Zealand. “New Zealand has lost an …

Australian Reserve Bank Governor Glenn Stevens kept the benchmark rate stable – currency and inflation were higher than expected. The global outlook had brightened. Australia still feeling the effects of the looser (read accomodative monetary policy) the RBA has waged. ANZ’s MORNING BRIEF EARLIER REPORTED: EVEN ODDS FOR A RBA RATE CUT ON MELBOURNE CUP DAY: The market is evenly priced for …

Foreign Affairs Minister Murray McCully announced the completion of a third New Zealand-funded solar power system in Tokelau – meaning almost 100 per cent of the territory’s electricity needs are met through solar generation. “The Tokelau Renewable Energy Project is a world first. Tokelau’s three main atolls now have enough solar capacity, on average, to meet electricity needs,” McCully says. …