Here are the key things you need to know before you leave work today.
GETTING READY FOR THE BIG ONE
Australia and New Zealand have agreed to work together to prepare for the [hopefully unlikely] event of a foot-and-mouth disease outbreak in either country. "It is well known that an outbreak of FMD would cause significant economic and social damage with the closure of many international markets for animal products and control measures having huge impacts on tourism, food chain businesses, farming families, rural business and communities," said the Primary Industries minister.
WE LOVE SUVs
Seven percent more new vehicles were sold in April that the same month a year ago. Cars were up 4%, commercial vehicles up 15%. 30% of all vehicles sold in April were SUVs - beating last months record of 29%.
MORE POWDER TO SELL
Fonterra will offer more skim milk powder at next Wednesday morning's GlobalDairyTrade auction. Another sign of record dairy production this season, which is close to its end now.
CHINA TO CALL FOR A MEGA FTA
China reportedly wants to see the TPPA and the other FTAs it is involved with all rolled into one all-encompassing deal. Might be a bit naive, given the WTO deals have taken lifetimes to discuss and there is still no 'big' deal. At least the smaller ones actually get done.
RETIRE AT 70 IN AUSTRALIA
Later today, the Aussies will formally announce an even older retirement age. They have already said the retirement age will go to 67 by 2023. Now they signalling it will go up to 70 by 2035. Even with their existing compulsory superannuation scheme they still can't afford a 65 age. The ACT Party says our election will be a referendum on the retirement age here.
KIWIBANK TWEAKS SAVINGS RATES
Although its variable mortgage rate went up 25 bps earlier this week, Kiwibank has only added 15 bps to its Online Call and Notice Saver account offers. Its Fast Forward Saver account went up 20 bps to 2.20%. Business saver accounts got even less - they get another 15 bps but only for balances in the $100,000+ tier level.
DANONE BITES BACK
The French dairy giant has started buying up some small Kiwi dairy processors, including Sutton Group and Gardians who are based in Auckland and Balclutha. These will give its Nutricia business a base for local processing in addition to their infant formula capacity. Danone and Fonterra have a $500 mln dispute before the NZ courts over the false positive recall issue.
WHOLESALE RATES FLATTEN
Swap rates fell slightly today at the long end following the fall in bond yields in New York last night. There was also more slippage for the 90 day bank bill rate which fell back 1 bp again and is now at 3.31%.
OUR CURRENCY
The NZ dollar went sideways yet again today after overnight gains. The NZD is now at 86.3 USc and 92.9 AUc. The TWI is at 80.2.
15 Comments
http://www.stuff.co.nz/national/politics/10002636/Oravidas-30-000-donat…
Justice Minister Judith Collins' office initially asked for a foreign affairs briefing before a controversial dinner in China with Oravida representatives and an unnamed border official.
Collins has insisted the dinner was a private affair with no official business discussed.
However, documents released to Fairfax Media under the Official Information Act show that five days before the dinner her office sought the briefing from the Ministry of Foreign Affairs and Trade (Mfat).
http://www.stuff.co.nz/national/politics/10002149/Mfat-briefing-request…
wow
""An October 15 email from her office noted:
On Sunday, October 20, the minister will be having a dinner that will include (redacted name). He has agreed to meet with the minister arranged by Mr Stone Shi, Oravida. The minister would like ambassador Carl Worker and his wife to attend this dinner. A briefing from Mfat will be required.""
Surely she has to go now, a personal dinner that requires a MFAT breifing? Can't see how National can carry this baggage into the election.
Why do we employ so many people in Par-liarment with such bad memories.
I simply cannot recall, is not good enough, perhaps they should be made to take.......Notes.
No that would not work. either come to think of it.
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11248458
Humour me...it is Friday.
In my opinion, this forgetfullness is getting way beyond a joke.
5 October 2009: Crafar Farms placed into receivership, owing $216 million to creditors.
2 December 2009: KIWI DAIRY CORPORATION LIMITED registered. (Then changes to ORAVIE LIMITED, 20 December 2010. Then changes to ORAVIDA LTD, 20 January 2011. Then changes to ORAVIDA NZ LIMITED, 13 May 2011. ) Shareholders: Jing Huang, Julia Jiyan Xu, and Deyi Shi. (Source)
11 June 2010: National Party receives $50,000.00 donation from Susan Chou. (Source)
30 July 2010: National Party receives $150,000 donation from Susan Chou. (Source)
18 November 2010: MILK NEW ZEALAND CORPORATION LIMITED* registered. Directors: Terry Lee and Jiang Zhaobai. (Source)
22 December 2010: Government blocks bid by Natural Dairy to buy the 16 Crafar farms on ‘good character’ grounds.
27 January 2011: KordaMentha accepts offer from Shanghai Pengxin International Group Ltd to buy Crafar Farms.
31 May 2011: National Party receives $100,000 donation from Susan Chou.(Source)
22 July 2011: ORAVIDA LTD registered. Shareholders: Jing Huang, Julia Jiyan Xu, and Deyi Shi. (Source)
27 July 2011: ORAVIDA PROPERTY LTD changes name to KIWI DAIRY INDUSTRY LTD. Shareholder: Deyi Shi (Source)
13 April 2011: Shanghai Pengxin lodges application with the Overseas Investment Office (OIO) to buy the Crafar farms.
26 September 2011: Crafar farms receiver KordaMentha rejects a conditional NZ$171.5 million offer for 16 central North Island dairy farms from a group led by controversial former merchant banker Michael Fay.
22 November 2011: National Party receives $50,0000 donation from Citi Financial Group. Shareholders: Yan Yang and Qiang Wei. (Source) (Source)
22 November 2011: National Party receives $1,600 from Oravida NZ.(Source) (Source)
26 November 2011: NZ General Election
30 November 2011: National Party receives further $55,000 donation from Oravida NZ. (Source) (Source)
27 January 2012: Government ministers approve Shanghai Pengxin’s application to purchase 16 Crafar farms.
15 February 2012: High Court delays sale of Crafar farms to Shanghai Pengxin.
20 April 2012: Government ministers , Land Information Minister Maurice Williamson and Associate Finance Minister Jonathan Coleman approve the Overseas’ Investment Office’s (OIO) new recommendation to allow the sale of the 16 Crafar farms to Shanghai Pengxin.
Ask your local National MP, he should know.
Her husband, Zhaowu Shen, was until recently listed as an adviser to the Chinese Business Roundtable, founded by Jack Chen - the self-described "driving force" behind Natural Dairy NZ, the Hong Kong listed company seeking to buy the Crafar farms.
Scroll on down, I really think John Key is doomed. Its almost Governor General stuff.
Perhaps the same questions should be asked of all the political party donations e.g. Alan Gibbs to ACT and Unions to Labour Party etc. Or is it only donations by ethnic Asians that we should be targetting Aj?
http://www.elections.org.nz/parties-candidates/registered-political-par…
State funding certainly has its merits......but how the heck would you tie them up to a price?
The way the mentality is you'd have everyone registering a politic party or standing as an Independent just to obtain some State funding for a campaign that might not even take place.
CO, all the Asians I know in NZ are, hardworking, honest, house proud, family focused citizens.
It's more a problem with our government getting involved in business. When people quote Lord Acton they always miss the last sentence.
"Power tends to corrupt, and absolute power corrupts absolutely.
Great men are almost always bad men."
Maurice says buy buy bye....
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11248681
I am not a friend, I am and independent agent......
Maurice Williamson helped broker a private deal in which Donghua Liu bought a neighbouring beachfront property in Pauanui.
How an agent works:
"That came about because Maurice was my neighbour and I'd had it on the market for a while and he just said one day 'Your place still for sale?' and I said 'Yes' and he said 'There's a guy out here, he's a New Zealand resident, that's buying up stuff, he might be interested' and I just said 'That'd be good Maurice' and he passed it on."
sweet
http://www.urbandictionary.com/define.php?term=sweet
So here's Maurice saying to Donghua Liu (who cant speak a word of english)
Look Bill, I know we are not friends, and I know I got you into NZ on the promise of that $70 million re-development deal in Newmarket
But don't worry about that just for the moment - Have I got a deal for you - handing him an empty brown-paper-bag
Meaning is common-currency across all languages - no words necessary - fill-er-up sport
Down in Pauanui, the next door neighbour's property is for sale - right next door
Would you be interested?
Think I can swing it for you
Oh, by the way, how is the Newmarket $70 million deal going?
Oh yeah, and thanks for pushing up the value of my Pauanui bach by $½ million, nice one
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