1. We've got figures for the losses claimed by those with Loss Attributing Qualifying Companies (LAQCs) for 2008. The losses claimed to the IRD jumped to NZ$2.3 billion from just over NZ$1.5 billion the previous year. Back in 2003 these losses were under NZ$750 million. They are the vehicle of choice for landlords claiming rental property losses so they can reduce their personal tax bills. 2. The NZ Roy Morgan Consumer Confidence Survey has risen to its highest level in early September since March 2008, which was the first quarter in which New Zealand entered its recession which has now lasted six quarters. Predictions are for the New Zealand economy to exit recession in the September quarter this year, although subsequent growth is set to be subdued into 2010 as the unemployment rate keeps rising to above 7 per cent. 3. US food giant Kraft has launched a US$17 billion takeover bid for Cadbury, This would put together the owner of Oreo cookies, Kraft cheese and Kool Aid powdered drinks with Cadbury chocolates and Trident gum. Cadbury sold its Schweppes arm last year. Cadbury has rejected the bid and it's possible Nestle and Hersheys could launch counter bids. Kraft owns Toblerone. The jewel in the crown for Kraft is the chewing gun arm of Trident, which was the first sugar free brand and the the biggest in the world.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.