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The New Zealand dollar followed its Australian counterpart higher after the Reserve Bank of Australia cut interest rates in line with expectations and soothing fears the world’s 12th biggest economy could be in for a big fall as its mining boom peaks. The kiwi increased to 82.243 US cents at 8am in Wellington from 82.29 cents yesterday, following the Australian …

At the 15th round of negotiations for TPP in Auckland, two new negotiating partners – Canada and Mexico have joined the table. International Business Forum executive director Stephen Jacobi spoke to newzealandinc.com on the significance both nations had for New Zealand if they are brought into any future TPP agreement. Jacobi said Canada as an economy that was close to …

Revenue Minister Peter Dunne has jumped into the multinational tax row saying tax systems around the world are adjusting to corporate giants with huge internet footprints, but very little physical presence. Dunne has requested a report from Inland Revenue into the tax treatment of such companies. “Our tax laws need to evolve and they will. This is a challenge, and it …

GLOBAL MARKETS:  Another quiet session overnight with sentiment mixed and little in the way of key macro events to provide market direction. US fiscal cliff negotiations continue with President Obama rejecting the latest Republican counter-offer of US$800bn in reduced revenues. On the data front, the New York ISM surprised to the upside in November. US equities were a touch weaker ahead …

 US House Speaker John Boehner tabled a plan to avert the fiscal cliff that left out tax increases for the wealthy and was rejected within an hour by the Whitehouse The plan also highlighted divisions among factions of the Republican Party. Boehner’s plan partly entails targeting US$800 billion in revenue over a decade from overhauling the tax code, closing loopholes …

PGG Wrightson and its majority shareholder Agria have signed a memorandum of understanding with China’s Administrative Authority for Yangling Agricultural High-Tech Industries Demonstration Zone. In a statement to the New York Stock Exchange the  companies said they will develop a high-profile agriculture showcase under the name, The China Yangling – New Zealand Agriculture Showcase. The Companies expect to benefit from preferential …

UK MPs argue that Starbucks, Google, and Amazon ‘immorally’ minimize their tax obligations. Lex’s Robert Armstrong and Oliver Ralph discuss how global companies may react.

Simon Constable and Scott Austin review the year’s biggest tech stories, which span from Apple’s multiple product launches, one very high-stakes tech trial, and the most-watched IPO in recent history.

With TPP front and centre on New Zealand’s agenda this next fortnight as Auckland plays host to the 15th round of negotiations, newzealandinc.com is running some special around the webs to gauge what’s being said about TPP around the globe. Updated: TV3 News (New Zealand)   Key says ignore Trans-Pacific Partnership protesters TV3 updates the news coming out of the TPP negotiations in …

Todd Property Group, the property development arm of the country’s wealthiest family, has bought the beleaguered Pegasus Town development in North Canterbury out of receivership. The property unit said it expects to complete the Pegasus development in 2015, without disclosing how much it paid. The acquisition is Todd Property’s first in the South Island, and represents its confidence in Christchurch’s …