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☆ New Zealand PM praises resilient All Blacks despite World Cup final loss
▼ + stars: | 2023-10-29 | by ( ) www.reuters.com time to read: +2 min

Oct 29 (Reuters) - New Zealand Prime Minister Chris Hipkins praised the All Blacks for their resilience and determination despite seeing Ian Foster's side slip to a narrow defeat against South Africa in the final of the Rugby World Cup in Paris on Saturday. "It's been incredible to see the team bounce back from that tough opening game against France and set the tournament alight. "New Zealand looks forward to welcoming the team home and celebrating their achievements." The All Blacks reached the final to defy lowly pre-tournament expectations, after a first-ever home series loss to Ireland and defeats against South Africa and Argentina in the Rugby Championship last year. "It's been an incredible seven weeks of rugby and the team has done New Zealand proud.

Persons: Chris Hipkins, Ian Foster's, Sam Cane's, Hipkins, It's, Ian Foster, Sam Cane, Grant Robertson, Michael Church, William Mallard Organizations: Zealand, Blacks, South, Rugby, . New Zealand, All Blacks, France, Rugby Championship, New Zealand, Springboks, Thomson Locations: South Africa, Paris, ., Japan, Argentina, France, New Zealand, Zealand

Asian shares are lower, tracking a slump on Wall Street after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought. U.S. stocks slumped Wednesday after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it. The Fed held its main interest rate steady at its highest level in more than two decades, as was expected. Wednesday on Wall Street, the S&P 500 fell 0.9% to 4,402.20. Shares of Klaviyo, which helps advertisers market over email and text messaging, rose 9.2% in their first day of trading.

Persons: Jerome Powell, it’s, ” Anderson Alves, ActivTrades, Hang Seng, Australia's, Grant Robertson, Fonterra, Powell, ” Powell, Instacart, Brent, Nick Perry Organizations: Federal Reserve, Fed, Nikkei, Toshiba Corp, Statistics New, Finance, Zealand, Dow Jones, Nasdaq, Treasury, Big Tech, Microsoft, Apple, Nvidia, Arm Holdings, New York Mercantile Exchange, U.S Locations: U.S, Shanghai, Seoul, Statistics New Zealand, China, Wellington , New Zealand

☆ New Zealand economy expands faster than expected
▼ + stars: | 2023-09-20 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

Shoppers walk in front of a retail shop displaying a sale sign in central Wellington, New Zealand, July 3, 2017. Annual growth increased to 1.8%, Statistics New Zealand data showed, above expectations of 1.2%. "It's a victory for the New Zealand economy and for the people who work hard every single day to deliver high quality jobs," Finance Minister Grant Robertson told reporters. The handling of the economy has been a central theme in this year's election with the opposition criticising the government's role in record high inflation and the slowing economy. The Reserve Bank of New Zealand (RBNZ) has been forecasting the economy would slip into recession in the second half of 2023.

Persons: David Gray, Gabrielle, Grant Robertson, Lucy Craymer, Sonali Paul Organizations: REUTERS, Statistics, New Zealand, U.S . Federal, Labour, New, Finance, ASB, Reserve Bank of New Zealand, Thomson Locations: Wellington , New Zealand, WELLINGTON, Statistics New Zealand, Zealand, New Zealand

☆ New Zealand forecasts much larger budget deficit but improved economy
▼ + stars: | 2023-09-12 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

REUTERS/David Gray/File Photo Acquire Licensing RightsWELLINGTON, Sept 12 (Reuters) - New Zealand’s government on Tuesday predicted a larger budget deficit but better-than-expected economic conditions in the year ahead, as it updated forecasts heading into the October election. The government forecast a budget deficit of NZ$11.4 billion ($6.7 billion) for the year ending June 30, 2024, much larger than a deficit of NZ$7.6 billion estimated in May. The global economy has deteriorated since May, which is having a direct impact on New Zealand's economy while tax revenue is also falling, Finance Minister Grant Robertson said in a statement. "Treasury’s latest forecasts show the economy isn’t working for Kiwis," said National Party leader Christopher Luxon. ($1 = 1.6926 New Zealand dollars)Reporting by Lucy Craymer; Editing by Sam Holmes and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: David Gray, Grant Robertson, Robertson, ", Christopher Luxon, Lucy Craymer, Sam Holmes, Edwina Gibbs Organizations: REUTERS, Rights, Finance, Zealanders, Treasury, Kiwis, National Party, Reserve Bank of New, Zealand, Thomson Locations: Wellington , New Zealand, Reserve Bank of New Zealand

WELLINGTON, New Zealand (AP) — New Zealand’s economy is expected to remain sluggish for another two years, although the overall picture is rosier than many observers had feared, new figures released Tuesday indicate. The nation’s Treasury released the projections ahead of an election next month. Net debt as a percentage of the economy is expected to peak at 23% in 2025. Political Cartoons View All 1152 Images“I think what these books represent is a turning of the corner for the New Zealand economy,” said Finance Minister Grant Robertson. New Zealand's economy dipped into a shallow recession this year after COVID-19 recovery funds dried up and higher interest rates put the brakes on consumer spending.

Persons: ”, Grant Robertson, David Seymour Organizations: Treasury, New, ACT Party Locations: WELLINGTON, New Zealand, “

☆ New Zealand plans digital services tax for multinationals from 2025
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

REUTERS/David Gray/File Photo Acquire Licensing RightsAug 29 (Reuters) - New Zealand said on Tuesday it would introduce legislation for a digital services tax on large multinational companies from 2025 after talks for a global rollout did not reach consensus at the Organization for Economic Cooperation and Development (OECD). But the proposal was pushed back last month after countries with digital services taxes, with the exception of Canada, agreed to hold off applying them for at least another year. The proposed digital services tax will target multinational businesses that earn income from New Zealand users of social media platforms, search engines, and online marketplaces. The tax would be payable by businesses that make over 750 million euros ($812 million) a year from global digital services and over NZ$3.5 million a year from digital services provided to New Zealand users. The tax would be applied at 3% on gross taxable New Zealand digital services revenue, a similar rate adopted by comparable countries like France and the United Kingdom.

Persons: David Gray, Grant Robertson, Renju Jose, Lincoln Organizations: REUTERS, Organization for Economic Cooperation, Development, Apple, Finance, Kiwis, NZ, Thomson Locations: Wellington, New Zealand, Canada, Zealand, France, United Kingdom, Sydney

☆ Kiri Allan: New Zealand justice minister resigns after being charged over car crash
▼ + stars: | 2023-07-24 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —New Zealand’s justice minister, Kiri Allan, has resigned after facing criminal charges following a car crash, the country’s prime minister, Chris Hipkins, announced on Monday. New Zealand Police charged Allan with “careless use of a motor vehicle and refusing to accompany a police officer,” and also issued an infringement notice for excess breath alcohol, Hipkins said. According to CNN affiliate Newshub, Allan said in a statement Monday that she had “faced a number of personal difficulties” over recent weeks. Hipkins said Ginny Andersen will become justice minister following Allan’s resignation while Kieran McAnulty will take over her responsibilities as regional development minister. Grant Robertson will take over coordinating the response to Cyclone Gabrielle, which lashed New Zealand in February.

Persons: Kiri Allan, Chris Hipkins, Allan, Hipkins, “, ”, ” Allan, MinisterJacinda Arden, ” Kiri Allan, Mark Mitchell, Ginny Andersen, Kieran McAnulty, Grant Robertson, Cyclone Gabrielle Organizations: CNN, New Zealand Police, Newshub, NZ Herald, Labour, Reuters Locations: Wellington , New, New Zealand

SYDNEY/AUCKLAND, July 20 (Reuters) - Australia and New Zealand will open the ninth Women's World Cup co-hosted by the two nations on Thursday, despite a shooting near the Norwegian team hotel in New Zealand's largest city of Auckland that left three dead and six injured. Tracey Taylor, a professor of sports management at RMIT University in Melbourne, said many members of grassroots football clubs expected the tournament to have a transformative effect for participation in women’s sport in Australia. Several participating nations, including tournament heavyweights England and Spain, have been in dispute with their administrators over working conditions and pay in recent months. “It’s a once-in-a-lifetime opportunity for many New Zealanders to experience a top-tier FIFA World Cup event,” he said. Reporting by Alasdair Pal in Sydney; Additional reporting by Renju Jose in Sydney and Philip O'Connor in Stockholm; Editing by Lincoln Feast.

Persons: Chris Hipkins, Maren Mjelde, Sydney –, Tracey Taylor, ”, Sam Kerr, Anthony Albanese, Fatma, “, Grant Robertson, “ It’s, Alasdair Pal, Renju Jose, Philip O'Connor, Lincoln Organizations: SYDNEY, Police, New Zealand, New Zealand’s Football Ferns, Norway, Gang, Australia, RMIT University, England, rugby, Blacks, FIFA’s, Kiwis, Zealand, Wednesday, FIFA, Thomson Locations: AUCKLAND, Australia, New Zealand, Norwegian, New Zealand's, Auckland, Eden, Norway, Republic of Ireland, Sydney, England, Melbourne, Spain, France, Zealanders, Stockholm

☆ We had to come up with a 'pretty balanced package' in our budget, says New Zealand minister
▼ + stars: | 2023-05-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe had to come up with a 'pretty balanced package' in our budget, says New Zealand ministerGrant Robertson, New Zealand's finance minister, says there was significant spending during the pandemic and it was time to move back to a more "fiscally sustainable position."

☆ New Zealand's finance chief denies pandering to voters' cost-of-living concerns
▼ + stars: | 2023-05-19 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

New Zealand's finance minister has denied the country's new budget is aimed at placating voters ahead of the country's next general election in October. Asked if the budget was short-term thinking to spend and worry about inflation and high deficits later, Grant Robertson replied: "On no, we're absolutely doing both of those things at the same time." New Zealand is also not projected to return to surplus until 2025-2026, a year later than previously forecast. The Treasury sees inflation slowing to 3.3% by mid-2024, from the current blistering 6.7% pace. "We very much had in mind to making sure that this budget contributed to inflation coming down."

☆ New Zealand announces worse-than-expected deficit as economy stutters
▼ + stars: | 2023-05-18 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

WELLINGTON (Reuters) - New Zealand on Thursday announced a worse-than-forecast budget deficit as a lower tax take, higher inflation and a slowing economy hit its coffers, forcing the ruling Labour government to keep new spending at a minimum and raising its bond programme. FILE PHOTO: New Zealand's finance minister, Grant Robertson, speaks about the "wellbeing" budget in Wellington, New Zealand, May 30, 2019. The country is projected to record a NZ$6.96 billion deficit for the year to June 2023 versus previous expectations for a deficit of NZ$3.63 billion, and will not return to surplus until 2025-26, a year later than previously forecast. The government announced a NZ$6 billion infrastructure fund, which would help with rebuild costs and fund new more resilient infrastructure over the longer term. “There is not a lot of discretionary spending in this budget,” Robertson added.

☆ NZ sees bigger deficit as economy sputters, spending boost to fan inflation
▼ + stars: | 2023-05-18 | by ( Lucy Craymer | ) www.reuters.com time to read: +4 min

FILE PHOTO: New Zealand's finance minister, Grant Robertson, speaks about the "wellbeing" budget in Wellington, New Zealand, May 30, 2019. That has heaped pressure on New Zealand’s finances, as the government has had to navigate many challenges including three-decade high inflation, sharply rising borrowing costs, a stuttering economy and falling tax revenue. However, Treasury sees inflation slowing to 3.3% by mid-2024, from the current blistering 6.7% pace, levels not seen since the early 1990s. Much of the worsening in the accounts is due to falling tax revenue as the economy slows. S&P Global Ratings retained New Zealand’s AAA ratings, but warned of pressure ahead.

☆ New Zealand set to reveal bigger deficit in 'no frills' 2023-24 budget
▼ + stars: | 2023-05-16 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

WELLINGTON, May 16 (Reuters) - New Zealand Labour government is set to reveal a worse budget bottom line and economic outlook on Thursday as it delivers what it calls a “no frills” 2023-24 budget to avoid fuelling inflation. Since coming into power, Prime Minister Chris Hipkins has cut costly programmes and reiterated the government’s plans to return to “bread and butter issues”. They’ll see that’s what we’ve done in the budget,” Hipkins said at his weekly Monday press conference. The country was hit by two significant weather events at the start of the year that caused an estimated NZ$9 billion and NZ$14.5 billion in damage. “The Budget packages will likely be more targeted, appearing more fiscally responsible and prudent,” Smith added.

☆ New Zealand might have a recession, but it will be a shallow one: Finance minister
▼ + stars: | 2023-04-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew Zealand might have a recession, but it will be a shallow one: Finance ministerGrant Robertson, minister of finance for New Zealand, says many economists are expecting a recession, but his country's economy is resilient and robust.

☆ Disasters lower outlook for New Zealand interest rate rise
▼ + stars: | 2023-02-20 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

Then on Feb. 12 to 15 a cyclone hit the North Island, which includes Auckland. When Cyclone Gabrielle hit, picking had just begun on pip-fruit farms, whose production is worth about NZ$1 billion a year. That would normally be a reason for a central bank to lift interest rates further, but some economists expect the RBNZ to look past the sudden rise as being temporary. Still, Kiwibank chief economist Jarrod Kerr said the central bank should pause hikes until the effect of the cyclone can be understood. After the Christchurch earthquake, the central bank cut its policy rate due to concerns about the economy.

☆ Cyclone Gabrielle death toll rises to five as recovery starts
▼ + stars: | 2023-02-15 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

WELLINGTON, Feb 16 (Reuters) - New Zealand stepped up recovery efforts on Thursday after Cyclone Gabrielle left at least five people dead and displaced 9,000 in the country's most damaging storm in decades. Gabrielle, which hit New Zealand on Sunday before making its way down the east coast of the North Island, cut off entire towns, washed away farms, bridges and livestock, and inundated homes, stranding people on rooftops. Parts of New Zealand's North Island, where about 75% of the country's 5 million residents live, are enduring their second major storm in as many weeks. Meteorological service MetService said Cyclone Gabrielle is now east of the country and continuing to track away from the North Island. The region was hardest hit during Cyclone Bola in 1988, which caused millions of dollars in damage and left seven people dead.

☆ Former NZ prop Johnstone becomes first All Black to come out as gay
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

[1/2] Crusaders Campbell Johnstone scores a try during their Super 14 rugby match against the Brumbies in Christchurch May 12, 2006. REUTERS/Simon BakerJan 30 (Reuters) - Former New Zealand prop Campbell Johnstone has become the first All Black to come out as gay, saying on a television programme on Monday he had been "living a lie" and leading "a double life" before acknowledging his sexuality. "If I can be the first All Black that comes out as gay and take away the pressure and stigma surrounding the issue it can actually help other people," Johnstone said. Johnstone made his debut against Fiji and played two tests against the British and Irish Lions. New Zealand Sports Minister and former deputy Prime Minister Grant Robertson, who is gay, thanked Johnstone for "blazing this trail" and said his announcement was "a big moment".

☆ Support for New Zealand's Labour Party jumps after Hipkins replaces Ardern
▼ + stars: | 2023-01-30 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

WELLINGTON, Jan 31 (Reuters) - Support for New Zealand's Labour Party has jumped to its highest level in almost a year after Chris Hipkins replaced Jacinda Ardern as prime minister and leader of the Labour Party. National is sitting at 37%, and is behind in Labour for the first time since early 2022. Hipkins had nailed the political messaging and managed to reconnect with former Labour supporters, said political commentator and former National Party staffer Ben Thomas. Carmel Sepuloni, the new deputy prime minister, who is of Samoan, Tongan and European descent, will be associate foreign minister. Hipkins's first official trip as prime minister will be to Australia next week where he is scheduled to meet with Prime Minister Anthony Albanese.

☆ New Zealand lawmakers confirm Hipkins as Jacinda Ardern's replacement - media
▼ + stars: | 2023-01-22 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

He was first elected to parliament for the Labour Party in 2008 and became a household name fronting the government's response to the pandemic. The ruling party is expected to hold a press conference shortly to officially announce the decision from the caucus meeting. The party has also selected Carmel Sepuloni as the deputy prime minister, Radio New Zealand and other media reported. Grant Robertson, who is currently Deputy Prime Minister and Finance Minister, is expected to hold onto the job of Finance Minister. Before Hipkins officially becomes prime minister, Ardern must tender her resignation to King Charles III's representative in New Zealand, Governor General Cindy Kiro.

☆ Meet the man set to replace Jacinda Ardern as New Zealand PM
▼ + stars: | 2023-01-21 | by ( ) www.nbcnews.com time to read: +2 min

Chris Hipkins, who played a significant role in New Zealand’s response to the Covid-19 pandemic, is set to replace Jacinda Ardern as prime minister after emerging on Saturday as the only candidate to lead the ruling Labour Party. “I think we’re an incredibly strong team,” Hipkins told a news conference after the party announced him as the sole candidate. A cabinet reshuffle proposed by Ardern would go ahead, but he said he planned to keep Grant Robertson as finance minister. Hipkins said he had spoken to Australian Prime Minister Anthony Albanese, who tweeted the two had had “a warm discussion”. He was appointed health minister in July 2020 before becoming the Covid response minister at the end of the year.

☆ New Zealand Prime Minister Jacinda Ardern says she will not seek reelection
▼ + stars: | 2023-01-19 | by ( ) www.cnbc.com time to read: +1 min

Prime Minister Jacinda Ardern announces she will not seek reelection at the War Memorial Centre on Jan. 19, 2023 in Napier, New Zealand. New Zealand Prime Minister Jacinda Ardern will not seek reelection and plans to step down no later than early February, she said in a televised statement on Thursday. "This summer, I had hoped to find a way to prepare for not just another year, but another term — because that is what this year requires," a visibly emotional Ardern said during the statement. Ardern said she believed the New Zealand Labour Party would win the upcoming election and added that a vote to elect the next Labour leader would be held on Sunday. New Zealand Deputy Prime Minister Grant Robertson, who also serves as finance minister, said in a statement he would not seek to stand as the next Labour leader.

☆ PM Ardern shocks New Zealand, says she is stepping down
▼ + stars: | 2023-01-19 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

WELLINGTON, Jan 19 (Reuters) - New Zealand Prime Minister Jacinda Ardern on Thursday made a shock announcement she had "no more in the tank" to continue leading the country and would step down no later than early February and not seek re-election. Ardern, holding back tears, said that it had been a tough five and a half years as prime minister and that she was only human and needed to step aside. A ruling New Zealand Labour Party vote for a new leader will take place on Sunday; the party leader will be prime minister until the next general election. New Zealand Deputy Prime Minister Grant Robertson, who also serves as finance minister, said in a statement he would not seek to stand as the next Labour leader. Ardern said she was not stepping down because the job was hard, but because she believed others could do a better job.

☆ New Zealand finance minister: Always concerned about tensions between China and the U.S.
▼ + stars: | 2022-10-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew Zealand finance minister: Always concerned about tensions between China and the U.S.New Zealand Finance Minister Grant Robertson speaks to CNBC's Geoff Cutmore at the 2022 Annual Meetings of the International Monetary Fund shortly after his meeting with U.S. Fed Chair Jerome Powell.

☆ New Zealand finance minister sees inflation easing but no quick drop
▼ + stars: | 2022-09-26 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

New Zealand's finance minister, Grant Robertson, speaks about the "wellbeing" budget in Wellington, New Zealand, May 30, 2019. REUTERS/Charlotte Greenfield/File PhotoWELLINGTON, Sept 27 (Reuters) - New Zealand's finance minister Grant Robertson said on Tuesday that inflation is likely to moderate but it won't be a quick drop back to the levels that people are used to seeing. "This is a difficult period, but we are looking to see inflation start to trend down from this quarter onwards." He added while things have been tough, there's every reason to be optimistic about the New Zealand economy because it has done pretty well up to this point. Register now for FREE unlimited access to Reuters.com RegisterReporting by Lucy Craymer; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

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