Business backs parts of agriculture plan

Business has backed the Abbott government's plans to invest in agricultural infrastructure and reduce red tape. "The ACCC already has a broad remit and responsibility to pursue competition issues, including those facing the agriculture sector," chief executive Jennifer Westacott said in a statement on Sunday.

  • RBA to keep wary eye on Greek response AAP - 10 hours ago
    RBA to keep wary eye on Greek response

    Academics doubt the unfolding events in Greece will result in lower interest rates when the Reserve Bank board meets on Tuesday. Greeks will vote in a referendum to decide whether their country agrees to more stringent austerity measures after it defaulted on an International Monetary Fund loan of 1.5 billion euros ($A2.18 billion) last week. The outcome hangs in the balance, but Greek Prime Minister Alexis Tsipras has pursued a `no' vote.

  • GST must be part of tax mix switch: FSC AAP - 11 hours ago

    The financial services industry hopes the nation's leaders will take the opportunity to start renegotiating the terms of the GST at a planned retreat. Prime Minister Tony Abbott and state premiers will meet this month to thrash out the future shape of the federation. In its submission to the government tax white paper, the Financial Services Council says Australia's heavy reliance on company and personal taxation must come to an end.

  • Greece a warning to everyone: Morrison AAP - 12 hours ago
    Greece a warning to everyone: Morrison

    Federal government frontbencher Scott Morrison says what is happening in Greece is a warning of what can happen if you don't get your house in order. Greeks will vote in a referendum on Sunday to decide whether their country agrees to more stringent austerity measures after it defaulted on an International Monetary Fund loan of 1.5 billion euros ($A2.18 billion) last week. Mr Morrison said Greece's debt didn't get to 100 per cent of GDP overnight, it happened over time with policies that became unsustainable.

  • Greece a warning for Australia: Morrison AAP - 13 hours ago
    Greece a warning for Australia: Morrison

    Federal government frontbencher Scott Morrison says the Greek crisis should be a "distant" warning for Australians as the country prepares to vote in a referendum on Sunday on whether it accepts ...

  • Greece 'Yes', 'No' camps neck and neck AAP - Sat, Jul 4, 2015 9:20 PM NZST

    Prime Minister Alexis Tsipras got a rock-star welcome at an Athens rally late on Friday as he sought to revive support for a 'No' vote in a referendum called to strengthen his hand in talks with international creditors. In an interview published Saturday the outspoken Varoufakis accused Athens's creditors of "terrorism".

  • Campaigns halt ahead of Greek referendum AAP - Sat, Jul 4, 2015 7:08 PM NZST

    Campaigns have halted in Greece on the eve of a closely watched bailout referendum - with voters in a dead heat over whether to defy creditors and push for better repayment terms or essentially seek new political leadership to find a compromise. Political rallies and publication of new opinion polls are banned 24 hours before Sunday's referendum called by left-wing Prime Minister Alexis Tsipras, who has promised to ease austerity after six years of recession. Rival rallies took place a half-mile apart in central Athens late Friday, and Tsipras made his final pitch on a stage set up for a campaign rock concert outside parliament.

  • Businesses seeking to buy state houses Newstalk ZB - Sat, Jul 4, 2015 7:40 AM NZST

    International investment firms, banks, and law firms are among those who want to buy our state houses.

  • Tesla tops 11,000 vehicles delivered AAP - Sat, Jul 4, 2015 12:28 AM NZST
    Tesla tops 11,000 vehicles delivered

    Tesla's second-quarter deliveries have surged 52 per cent to set a company record exceeding 11,000 vehicles. The Palo Alto, California, electric car maker surpassed 10,000 vehicles for the first time in the first three months of 2015 and on Thursday said it had broken that record, delivering 11,507 vehicles. Tesla makes only one car, the Model S sedan, but chief executive Elon Musk in June said he expects to begin deliveries of an SUV, the Model X, in three or four months.

  • Fannie, Freddie CEOs get big pay rises AAP - Fri, Jul 3, 2015 10:35 PM NZST

    The chief executives of US government-backed mortgage giants Fannie Mae and Freddie Mac are getting large raises, to about $US4 million ($A5.23 million) a year, as the government relaxes rules that were imposed on the companies after they suffered big losses and were bailed out. In forms filed with the Securities and Exchange Commission, the companies disclosed that Fannie Mae CEO Timothy Mayopoulos and Freddie Mac CEO Donald Layton will get annual base salaries of $US750,000 each, $US2.1 million in fixed deferred compensation and $US1.2 million in at-risk deferred salary. The Federal Housing Finance Agency, which oversees the companies, said the new plans take CEO performance into account and defer compensation so the executives stay with the companies.

  • Early blow for TFS action against analyst AAP - Fri, Jul 3, 2015 8:00 PM NZST

    Sandalwood producer TFS Corporation has stumbled at an early hurdle in its legal action against an equities analyst and his employer, Taylor Collison. TFS Corporation launched the action after Adam Paul Dellaverde authored a 57-page PowerPoint presentation about the company in September last year, that it believed was damaging. According to a document submitted to the West Australian Supreme Court, TFS Corporation said the presentation was "saturated with false and misleading statements" and omitted key information about its financial affairs and business operations.

  • Gold miners could extract gold in new way AAP - Fri, Jul 3, 2015 7:54 PM NZST

    Australia's gold miners may soon have access to a technique to extract gold without the environmental risks associated with cyanide. Highly toxic cyanide is used in mining to dissolve gold and ores, but the process is often banned in sensitive environments due to contamination concerns. CSIRO scientists and US gold mining giant Barrick Gold recently collaborated to produce a gold bar without using cyanide for extraction.

  • Retail data sends $A to two month low AAP - Fri, Jul 3, 2015 7:47 PM NZST

    The Australian dollar hit a two and a half month low after sluggish local retail spending figures disappointed the market. RBC foreign exchange strategist Keng Goh said the Aussie dollar's fall after the release of the retail figures was the day's big move. At 1700 AEST, the Australian dollar was at 93.35 Japanese yen, down from Thursday's close of 94.21 yen, and at 68.35 euro cents, down from 68.94 euro cents.

  • Economists sift through patchy data AAP - Fri, Jul 3, 2015 7:36 PM NZST

    Economic figures this week were patchy, leaving economists to weigh up the pluses and minuses facing the Australian economy. The headline of their analysis - "Housing boom bigger, but capex cliff steeper" - highlighted the Reserve Bank of Australia's dilemma. The number of visitor arrivals is growing more rapidly than resident departures from Australia, in part because of increasing numbers of visitors from China.

  • More rate cuts this year unlikely - survey AAP - Fri, Jul 3, 2015 7:10 PM NZST
    More rate cuts this year unlikely - survey

    The Reserve Bank is unlikely to cut rates again this year. All 14 economists surveyed by AAP expect the RBA to keep the cash rate unchanged at its July meeting on Tuesday, and only two expect another cut before the end of the year. HSBC Australia chief economist Paul Bloxham said the RBA is in a "wait and see" mode, assessing the impact of rate cuts before making further moves.

  • Aust bonds firmer ahead of Greek vote AAP - Fri, Jul 3, 2015 7:08 PM NZST

    The Australian bond market is stronger as traders play it safe, uncertain about the outcome of Greece's Sunday referendum on financial reforms needed to secure more bailout funds. Earlier in the week, ...

New Zealand Markets

Company Finances

  • Kraft shareholders approve sale of company to Heinz Associated Press - Thu, Jul 2, 2015 2:48 AM NZST
    Kraft shareholders approve sale of company to Heinz

    Kraft shareholders have approved the sale of the company to ketchup maker H.J. Heinz, creating one of the world's largest food companies with annual revenue of about $28 billion. Heinz' owners, Warren ...

  • Jeep sales drive Fiat Chrysler's 8 pct. June US sales jump Associated Press - Thu, Jul 2, 2015 1:09 AM NZST
    Jeep sales drive Fiat Chrysler's 8 pct. June US sales jump

    Fiat Chrysler says its U.S. sales rose 8 percent last month for the company's best June in nine years. The results are a sign that the auto industry will post another strong month in June compared to a ...

  • Toyota, Nissan, Honda back hydrogen stations for fuel cells Associated Press - Wed, Jul 1, 2015 9:24 PM NZST
    Toyota, Nissan, Honda back hydrogen stations for fuel cells

    Toyota, Nissan and Honda are working together to get more fuel cell vehicles on roads in what they call Japan's big push toward "a hydrogen society." Fuel cell vehicles emit no pollution. They ...

  • FDA weighs new restrictions on liquid nicotine products Associated Press - Wed, Jul 1, 2015 7:58 AM NZST
    FDA weighs new restrictions on liquid nicotine products

    Federal health officials are considering whether to require new warnings and child-resistant packaging on liquid nicotine formulas used with e-cigarettes and other emerging tobacco products. The Food and ...

  • The Legal Lowdown on Starting a Brewery or Distillery Entrepreneur - Wed, Jul 1, 2015 3:30 AM NZST
    The Legal Lowdown on Starting a Brewery or Distillery

    Find out what legal hoops you'll need to jump through in your state before starting a craft alcoholic beverage business.

  • What's driving Detroit's manufacturing turnaround? CNBC - Tue, Jun 30, 2015 3:45 AM NZST
    What's driving Detroit's manufacturing turnaround?

    No longer in bankruptcy, Motor City is busy nurturing 1,400 next-gen advanced manufacturers to rekindle its legacy as a production hub.

  • Discovery secures European Olympic TV rights through 2024 Associated Press - Tue, Jun 30, 2015 2:14 AM NZST
    Discovery secures European Olympic TV rights through 2024

    U.S.-based media giant Discovery Communications Inc. secured the European broadcast rights for four Olympics through 2024 on Monday in a landmark deal worth 1.3 billion euros ($1.45 billion). The parent ...

  • Number of 'American-made' autos drops to new low CNBC - Mon, Jun 29, 2015 4:30 PM NZST
    Number of 'American-made' autos drops to new low

    It's getting tougher to find cars and trucks built in the U.S. that meet an industry index measuring which vehicles are the most "American-made".

  • Many options, no single solution to nation's traffic snarls Associated Press - Sun, Jun 28, 2015 3:52 AM NZST
    Many options, no single solution to nation's traffic snarls

    The problem is clear: Traffic congestion will become significantly worse and more widespread without big changes in how people and products get around. Build more roads. Build more public transit. Rely ...

  • USDA proposes healthier fare for child, adult day cares Associated Press - Sun, Jun 28, 2015 2:46 AM NZST
    USDA proposes healthier fare for child, adult day cares

    As teachers lament seeing toddlers too large to fit in playground swings, a federal program that feeds millions of low-income children may be overhauled for the first time in almost 50 years, aiming to ...