Eftpos Company enters in receivership


As per the media reports, an announcement confirming Eftpos Company ProvencoCadmus entering into receivership has been just made by receivership company KordaMentha. The company said Michael Stiassny and Brendon Gibson have been appointed receivers.

It was forwarded by Stiassny that the subsidiary companies have not been placed into receivership, though they have been appointed receivers to ProvencoCadmus.

Increase in unemployment to be displayed by labor figures

labor market

This week will concentrate on the plight of the labor market, as figures on employment levels and wages are unconfined.

It is being forecasted by Westpac that the unemployment rate for the second quarter will climb to 5.7 in the June quarter, the biggest quarterly increase in 18 years.

It was forwarded by Westpac's labor market economist Dominic Stephens that the slowdown will continue in the wage growth.

Housing allowance defended by Finance Minister English

Finance Minister Bill English

As per the media reports, the right to receive $700 a week to pay for his family home in Wellington has been defended by the Finance Minister Bill English, as he believes that he is not claiming anything he is not entitled to as a minister.

Sale of NZ's Matariki forests scrapped

Sale of NZ's Matariki forests scrapped

Due to the ongoing tightness in credit markets, the sale of New Zealand's third-biggest forest estate, worth as much as NZ$1 billion ($653 million), has been scrapped.

It was forwarded by the joint-venture Matariki Forests Ltd, 40 percent owned by U. S. forest group Rayonier, that the owners have decided not to go ahead with the proposed sale of the 140,000 hectare (343,000 acre) estate, though it had attracted immense interest.

New-look store opened by Dick-Smith


Dick-Smith recently opened a new-look Queen Street store, which can be seen as the maiden example of the change to the electronic retailer's branding.

The new store is slicker, apart from being more established. The store boasts of interactive areas, which will enable customers to touch, feel and test the products they are interested in.

Big Jump in Building Approvals noted by Australia


A notable leap was seen by Australia in building approvals last month. The economists predict that this indicates that economy might be starting to recover after a year- long downturn.

The Australian Bureau of Statistics specified that a rise by 9.3 percent to 11,086 units was seen in building approvals in June, from 10,144 units in May, which was better than the median market forecast for a gain of eight percent.