Stories by Gyles Beckford
News
Tax reforms needed to bolster economic growth - IMF report
The government needs to get control of its finances and make broad based tax and regulatory changes, according to the International Monetary Fund.
Bank profits soar to record $7.2b amid litany of concerns
They've come through the recession and edged to a record high despite rising costs, flat margins, and regulatory pressures.
Canadian billionaire makes move to take over board of NZME
An Auckland-based Canadian billionaire is leading a move to dump the board of media company NZME.
Reserve Bank governor's mystery resignation - what happens next?
'These things happen' was all the chair of the Reserve Bank really had to say about the sudden departure of governor Adrian Orr, writes Gyles Beckford. Audio
Regulator wins precedent setting financial case
Former chief financial officer of failed CBL Insurance Group Carden Mulholland was ruled an accessory to the breaking of information disclosure rules.
Power company's half-year earnings almost double
The power company's half-year profit rose strongly as high wholesale prices offset higher overheads.
Sweet treats and sin taxes raise inflation flags
Increases in prices are widespread, with about two-thirds of the goods in the food basket more expensive than a year ago.
Commerce Commission cold on billion-dollar electricity merger
Contact Energy is undeterred by a negative report from the Commerce Commission about its $1.9 billion takeover of Manawa Energy.
Unemployment rises to highest level since 2020
Unemployment has risen to a four-year high as the recession caused job losses, slowed hiring, and dented wage growth.
Unemployment forecast to hit four-year high
Official numbers confirming the recession has caught up with the jobs market - and also slowed wage growth.
It just got slightly easier to retire
However, a couple will need an extra $1.1m for a comfortable city retirement, while in the provinces it will cost $446,000, a new report says.
Hopes for hefty rate cut amid new inflation figures
The Consumer Price Index rose 0.5 percent at the end of last year leaving the annual rate at 2.2 percent - the lowest since March 2021.
Businesses remain upbeat despite slight dip in confidence
Firms report a lift in sales and expectations of further improvement.
Economy in recession after big drop in GDP
The economy has had its worst six months since 1991, outside the pandemic, with two quarters of significant drops.
Government books will stay deep in the red until 2029
And Nicola Willis has adopted a new measure for its finances, excluding the impact of ACC, which it said distorted previous forecasts.
Commerce minister proposes capital market shake-up
The government wants to broaden the range of potential investments for Kiwisaver and make it easier to list on the stock exchange.
Greymouth Petroleum confirms significant gas find in Taranaki
One of the country's biggest oil and gas producers says it has had a significant gas find in Taranaki.
Canadian company finds more gas in Taranaki's field
Further testing will be needed to assess the full extent of the supplies.
Reserve Bank cuts the Official Cash Rate by 50 points to 4.25%
The cut brings the cash rate to its lowest level since November 2022. Audio
Air New Zealand earnings hampered by lack of planes
A lack of planes and a mixed travel market are set to reduce Air New Zealand's half-year result.
Economic recovery to happen later than first thought
Treasury's chief economist has warned a weaker economic outlook means a delay in a return to growth.
Government's policies dragging out recession, economists say
Slashing the budget deficit and reducing public debt are making matters worse for households and businesses, they say. Audio
Weak economy forecast to continue this year, more positive prospects for 2025 onwards
This year is set to be a write off for the economy, but the prospects for 2025 and beyond have a rosy glow about them.