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The estimated program cost is 10.4 billion Canadian dollars, of which just under 6 billion dollars is the purchase price of the planes. (The program cost includes weapons, training simulators, spare parts and renovations at the Air Force bases in British Columbia and Nova Scotia where the planes will be stationed.) As with the 1980s vintage CP-140 Aurora planes they will replace, the main duty of the newcomers will be tracking submarines. But, as is the case now, they will most likely perform a number of other tasks ranging from tracking drug smuggling in the Caribbean to monitoring pollution in Canada. In particular, they wanted it to consider a proposed marine surveillance plane from Montreal-based Bombardier.
Persons: , François, Doug Ford of, François Blanchet Organizations: Boeing, Air Force, Titan, Yves, Bloc, Bombardier Locations: British Columbia, Nova Scotia, Caribbean, Canada, United States, Britain, Germany, Norway, Netherlands, Australia, New Zealand, Quebec, Doug Ford of Ontario, Montreal
Dollar eases as traders weigh rate cut prospects
  + stars: | 2023-12-01 | by ( )   time to read: +3 min
Data on Thursday showed U.S. consumer spending rose moderately in October, while the annual increase in inflation was the smallest in more than 2-1/2 years. "It remains to be seen if getting from 3% to 2% will be easy, or if inflation will remain sticky in 2024." Federal Reserve policymakers signaled on Thursday that the U.S. central bank's interest rate hikes are likely over, but left the door open to further monetary policy tightening should progress on inflation stall. Investor focus will now move to comments from Fed Chair Jerome Powell later on Friday, with traders likely to scrutinize every word to sketch out rate outlook. The Australian dollar rose 0.20% to $0.662, while the New Zealand dollar rose 0.37% to $0.618.
Persons: Ryan Brandham, Jerome Powell, Powell, Carol Kong, Sterling, Toshiro Muto Organizations: Risk, Commonwealth Bank of Australia, Bank of Japan, New Zealand Locations: North America, U.S, Europe
A fence is seen in front of wind turbines that are part of the Infigen Energy Capital Wind Farm located on the hills surrounding Lake George, near the Australian capital city of Canberra, Australia February 21, 2018. Australia's electricity transmission network, batteries and sustainable aviation fuel are three areas where simplified planning, subsidised finance and other regulatory changes could catalyse investment, according to a report released by eight major pension funds. Changes could quickly unlock A$4 billion ($2.7 billion) worth of investment in batteries, the report said. Once passive managers who predominantly invested at home, Australian pension funds have become international heavyweights, managing A$2.4 trillion - the fourth largest pool of retirement savings by country globally. Australian pension fund Aware Super committed A$10 billion.
Persons: David Gray, Paul Schroder, David Neal, Lewis Jackson, Edwina Gibbs Organizations: Infigen, REUTERS, Rights, Labor, Thomson Locations: Lake George, Canberra, Australia, U.S, EU, Korea, Canada
Popular apparel brand The North Face posted a crazy marketing stunt on TikTok recently. In a video, they delivered a rain jacket to a woman at the top of a mountain in New Zealand via helicopter. Jenn Jensen posted a TikTok video on November 17 showing herself on a hiking trail in the rain where she's soaked whilst wearing a rain jacket sporting The North Face logo. "I've got a bone to pick with North Face," Jensen says in the video which has racked up over 11 million views. "I bought this 'rain jacket' a couple of days ago and the tag for the advertising said that it's waterproof.
Persons: , Jenn Jensen, I've, Jensen, @timbrodini Organizations: Service, North Locations: New Zealand, Hooker
The two new chicks come just a year after the Capital Kiwi Project reintroduced the country’s iconic national bird to the city of around 400,000 people. The brown kiwi is one of New Zealand’s most common kiwi species, but according to New Zealand’s Department of Conservation, the birds could be extinct in the wild within two generations without adequate conservation and support. Another 18 brown kiwi chicks are expected to hatch as part of the Capital Kiwi Project, which hopes to restore a large-scale wild population of kiwi to New Zealand’s capital. 95% of wild born kiwi in New Zealand are killed before they reach adulthood, according to Save the Kiwi. Where they get hammered is stoats eating the chicks before they get up to their fighting weight,” Capital Kiwi Project team leader Paul Ward told CNN earlier this year.
Persons: Paul Ward, Ward Organizations: Hong Kong CNN, Capital Kiwi Project, New Zealand’s Department of Conservation, Capital Kiwi, Kiwi, New Zealand Department of Conservation, , Kiwi Project, CNN Locations: Hong Kong, Wellington, New Zealand, Makara, Wellington’s, Zealand
New Zealand rolled back its plans to ban cigarette and tobacco sales, dealing a major blow to a global antismoking movement that had picked up pace in recent years. Leaders of New Zealand’s new conservative government said this week they planned to undo an antismoking law set to take effect next year, in part to generate revenue from sales of tobacco and vaping products. The watershed law, which passed last year under former Prime Minister Jacinda Ardern , would have banned anyone born after 2008 from buying the products in the country.
Persons: Jacinda Ardern Organizations: Zealand
Dollar drifts near three-month low, focus on inflation data
  + stars: | 2023-11-30 | by ( )   time to read: +3 min
The index is down 3.7% in November on growing expectations the Fed will cut interest rates in the first half of 2024. The dollar clawed back some of its losses on Wednesday after data showed the U.S. economy grew faster in the third quarter than initially reported. "Markets will continue to play to focus on what FOMC officials say about the prospect of the upcoming rate-hike cycle." Two of the best-performers are at the polar opposite ends of the "carry" spectrum — the New Zealand dollar and Japanese yen . On Thursday, yen strengthened 0.09% to 147.11 per dollar, remaining close to two and half month high of 146.675 per dollar it touched on Wednesday.
Persons: Carol Kong, Jerome Powell, Christopher Waller, Christopher Wong, Goldman Sachs, Sterling Organizations: Federal, Commonwealth Bank of Australia, New Zealand, Bank of Japan Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailReserve Bank of New Zealand is concerned about whether inflation will ease fast enoughAdrian Orr, governor of the Reserve Bank of New Zealand, says "our expectation is that inflation will continue to decline in New Zealand. Our concern is … whether it will decline fast enough to ensure that inflation expectations remain anchored."
Persons: Adrian Orr Organizations: Email Reserve Bank of New, Reserve Bank of New Locations: Email Reserve Bank of New Zealand, Reserve Bank of New Zealand, New Zealand
A New Zealand dollar coin sits atop a United States one dollar bill in this photo illustration taken on March 11, 2016. Consumer price growth in the 20 nations that share the euro currency dropped to 2.4% in November from 2.9% in October, well below expectations for a fall to 2.7%. The euro dropped as much as 0.5% against the dollar to $1.0910. The Japanese currency has firmed almost 3% against the dollar in November and is on course for its strongest month this year. Sterling was last at $1.2646, down 0.39% on the day, while the Australian dollar fell 0.1% to $0.6610.
Persons: David Gray, Matthew Landon, disinflation, Landon, ECB policymaker Fabio Panetta, Mohamad Al, Jerome Powell, Christopher Waller, Christopher Wong, Toyoaki Nakamura, Sterling, It's, Samuel Indyk, Ankur Banerjee, Vidya Ranganathan, Kim Coghill, Miral Fahmy, Susan Fenton Organizations: New Zealand, REUTERS, European Central Bank, Morgan Private Bank, ECB, ECB policymaker, Danske Bank, Bank of Japan, Thomson Locations: States, Europe, U.S, London, Singapore
[1/2] Shane MacGowan, former lead singer of The Pogues, performs during the Montreux Jazz festival in the [Miles Davis] Hall late July 15, 1995. MacGowan and his band The Popes were part of the 'Irish Night' during the festival. MacGowan brought Irish traditional music to a huge new audience in the late 1980s by splicing it with punk, and achieved mainstream success with his bittersweet, expletive-strewn 1987 Christmas anthem "Fairytale of New York". Irish President Michael D. Higgins, also a poet, described MacGowan on Thursday as one of music's greatest lyricists. Following a decade with a new band, the Popes, MacGowan and the Pogues reunited and toured regularly until 2014.
Persons: Shane MacGowan, Miles Davis, MacGowan, Stringer, Pogues, Nick Cave, Victoria Mary Clarke, Jesus, Mary, Therese, Pogue Mahone, Elvis Costello, Joe Strummer, Michael D, Higgins, Kirsty MacColl, Bono, Sinead O'Connor, Glen Matlock, Johnny Depp, Cave, Muvija M, Graham Fahy, Conor Humphries, Padraic Halpin, Alex Richardson, Andrew Heavens Organizations: Montreux Jazz, Hall, Guardian, Westminster School, Pogues, Sex, Thomson Locations: Kent, Ireland, DUBLIN, London, Irish, York, English, Soho, Siam, New Zealand, Japan
The Australian dollar held near a four-month peak while the New Zealand dollar scaled a roughly four-month top of $0.61495 in early Asia trade. Australian inflation data is due later in the day, followed by a rate decision from the Reserve Bank of New Zealand (RBNZ). The dollar index was eyeing a nearly 4% loss for November, its worst monthly performance in a year. "We have become less constructive on the prospects for the U.S. dollar, as progress in reducing U.S. inflation suggests the risks are tilted toward earlier rather than later Fed easing," said economists at Wells Fargo in a note. Sterling last bought $1.27105, hovering near the previous session's roughly three-month high of $1.2715.
Persons: Christopher Waller, Kyle Rodda, Sterling,'s Rodda, Rae Wee, Lincoln Organizations: Federal Reserve, New Zealand, Reserve Bank of New Zealand, Fed, U.S ., Reserve Bank of Australia, Thomson Locations: SINGAPORE, Asia, Wells
New Zealand's central bank defends Maori language use
  + stars: | 2023-11-29 | by ( Lucy Craymer | )   time to read: +2 min
[1/3] Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr is pictured during an interview at the bank in Wellington, New Zealand, April 16, 2019. REUTERS/Charlotte Greenfield/File Photo Acquire Licensing RightsWELLINGTON, Nov 29 (Reuters) - New Zealand’s central bank chief defended its use of the Maori language in official communications on Wednesday, as the country’s new centre-right government looks to roll back the use of the Indigenous language in the public sector. Central bank governor Adrian Orr said at a media conference following the bank’s monetary policy meeting that it was proud of its Maori name "Te Putea Matua" and would continue to use it in addition to the Reserve Bank of New Zealand (RBNZ). Over the past few years, the RBNZ has undergone an overhaul that puts the country's Maori heritage and language at the centre of its operations. The government has not released specific details on the policies and it is unclear whether they would directly impact the central bank.
Persons: Adrian Orr, Charlotte Greenfield, Orr, Christopher Luxon's, Luxon, Lucy Craymer, Sam Holmes Organizations: Bank of New Zealand, REUTERS, Rights, Reserve Bank of New Zealand, Labour, New Zealand, prudential, Thomson Locations: Wellington , New Zealand, Central, Te Ao
WELLINGTON, New Zealand (AP) — New Zealand’s new prime minister plans to ban cellphone use in schools and repeal tobacco controls in the ambitious agenda he released Wednesday for his first 100 days in office. Christopher Luxon outlined 49 actions he said his conservative government intended to take over the next three months. Many of the actions in the 100-day plan involve repealing initiatives from the previous liberal government, which had been in office for six years. Political Cartoons View All 1270 ImagesMany of the plans are proving contentious, including the one to repeal tobacco restrictions approved last year by the previous government. Those included requirements for low nicotine levels in cigarettes, fewer retailers and a lifetime ban for youth.
Persons: Christopher Luxon, Luxon, ” Luxon, Critics Organizations: Health Authority Locations: WELLINGTON, New Zealand
The New Zealand dollar was last up 1.1% at a four-month high of $0.6207, having blown past resistance. The U.S. dollar, meanwhile, slid to fresh multi-month lows on the euro, yen, sterling, the Australian dollar, yuan and Swiss franc. Overnight Fed Governor Christopher Waller - an influential and previously hawkish voice at the U.S. central bank - told the American Enterprise Institute that rate cuts could begin in a matter of months, provided inflation keeps falling. Fed funds futures rallied on the remark to price more than hundred basis points of cuts in 2024 and 40% chance they begin as soon as March. Two-year Treasury yields fell sharply and along with the dollar fell further still in Asia.
Persons: Christopher Waller, Governor Waller's, Tapas Strickland, Jerome Powell, Waller, CONDITIONALITY Waller's, Seng, Vishnu Varathan, Simon Cameron, Moore Organizations: New Zealand, Nikkei, U.S ., Swiss, U.S, American Enterprise Institute, Governor, National Australia Bank, Fed, HK, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Hong Kong, Sydney, China, Meituan, Zealand, Singapore
Morning Bid: Vale Charlie Munger
  + stars: | 2023-11-29 | by ( )   time to read: +2 min
Vice-Chairman of Berkshire Hathaway Corporation Charlie Munger speaks to Reuters during an interview in Omaha, Nebraska May 3, 2013. The union of Munger and Warren Buffett is among the most successful in the history of business, transforming Berkshire Hathaway into a multi-billion dollar conglomerate. Often handy with a one-liner Munger summed up his fame in 2010: "I think part of the popularity of Berkshire Hathaway is that we look like people who have found a trick," he said. Two-year Treasury yields fell to a four-month low just below 4.70%. Ten-year Treasury yields hit a two-month low of 4.28%.
Persons: Charlie Munger, Lane, Tom Westbrook, Warren Buffett, Berkshire Hathaway, Munger, Christopher Waller, Waller's, China's stockmarkets, Sam Holmes Organizations: Berkshire Hathaway, Reuters, REUTERS, Investors, Swiss, greenback, Spanish CPI, Thomson Locations: Omaha , Nebraska, Munger, Berkshire, Asia, New, Spanish
Consumers in China are hunting for bargains when they spend, the latest earnings from online retailers show. Chinese e-commerce giant Pinduoduo posted 94% growth in third-quarter revenue, far outpacing Alibaba 's 9% growth during the same period. Pinduoduo , known for its bargain-priced products, said Tuesday that third quarter revenue was the equivalent of $9.44 billion – beating revenue forecasts, according to LSEG. Pinduoduo said revenue from transactions skyrocketed by 315% in the third quarter to nearly $4 billion. JD missed third-quarter revenue estimates, according to LSEG data, despite net revenue rising 1.7% in the quarter from a year ago to the equivalent of $34 billion.
Persons: Pinduoduo, Temu, Alibaba, JD Organizations: JPMorgan Locations: China, FactSet, U.S, Australia, New Zealand, France, Italy, Germany, Netherlands, Spain
REUTERS/Kim Hong-Ji/File Photo Acquire Licensing RightsNov 30 (Reuters) - A look at the day ahead in Asian markets. If this week has so far been strangely listless for Asian markets, that could be about to change suddenly on Thursday as investors brace for a deluge of top-tier economic data and policy events from across the continent. The latest industrial production and retail sales data from both Japan and South Korea are on tap too, all of which could move their respective markets, especially currencies. All else equal, the risks for Asian markets on Thursday may be tilted to the upside, even though stock markets around the world again struggled on Wednesday. South Korea's central bank is expected to keep its base rate on hold at 3.50% and leave it there until at least the middle of next year.
Persons: Kim Hong, That's, Goldman Sachs, Jamie McGeever, Josie Kao Organizations: Korea, South Korean, REUTERS, New Zealand, Bank of Japan, Reserve Bank of New Zealand, Thomson, Reuters Locations: Seoul, South Korea, China, India, Japan, U.S, Korea's, Korea
Pedestrians walk past the Reserve Bank of New Zealand headquarters in Wellington, New Zealand, on Thursday, Sept. 13, 2012. The New Zealand dollar jumped 1% to nearly 0.62 against the U.S. dollar after the Reserve Bank of New Zealand held its official cash rate at 5.5% and warned that rates could go higher to tackle inflation. The kiwi dollar jumped to its highest level in nearly four months after the decision. The currency is down 2.5% so far this year, and is headed for its third straight yearly decline. The central bank noted that inflation remained too high and said monetary policy will need to remain restrictive in order to control it.
Organizations: Reserve Bank of New, New Zealand, U.S, Reserve Bank of New Zealand Locations: Reserve Bank of New Zealand, Wellington , New Zealand
The dollar index , which measures its value against six major currencies, fell as far as 102.89, the lowest since Aug. 31. The index is on track for a loss of more than 3% in November, its worst performance since November 2022. The Conference Board said its consumer confidence index increased to 102.0 this month from a downwardly revised 99.1 in October. In other currencies, the euro rose to a 3-1/2-month peak of $1.0985 . The dollar fell 0.2% to 148.33 yen , with the Japanese currency continuing its recovery from the brink of 152 per dollar earlier in the month.
Persons: Dado Ruvic, Sterling, Karl Schamotta, underscoring, Gertrude Chavez, Dreyfuss, Alun John, Brigid Riley, Ed Osmond, Mark Potter, Kevin Liffey Organizations: REUTERS, U.S, Federal Reserve, Board, Federal Housing Finance Agency, Traders, Australian, New Zealand, Reserve Bank of New, Thomson Locations: Swiss, U.S, Toronto, OPEC, Reserve Bank of New Zealand, New York, London, Tokyo
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTOKYO/LONDON, Nov 28 (Reuters) - The U.S. dollar hit a three-month low against a basket of peers on Tuesday before steadying, as traders continued to unwind long dollar positions before this week's U.S. and euro zone inflation data. The dollar index , a measure of the greenback against six major currencies, was last at 103.17, a whisker above the 103.07 it touched in Asia trade, the lowest since Aug. 31. The index is on track for a loss of more than 3% in November, its worst performance in a year. The Japanese yen was a touch firmer at 148.45 per dollar , continuing its recovery from the brink of 152 per dollar earlier in the month as the dollar weakened. The Swiss franc was at 0.8810 per dollar, steady on the day, also around its firmest since the start of September, and the Australian dollar briefly touched a near four-month high of $0.6632.
Persons: Dado Ruvic, Simon Harvey, Brigid Riley, Alun John, Ed Osmond, Mark Potter Organizations: REUTERS, Rights, U.S, greenback . U.S, Fed, Reuters, Swiss, Australian, Reserve Bank of New, Thomson Locations: LONDON, steadying, U.S, Asia, OPEC, Reserve Bank of New Zealand
"But I think it's not just this week's inflation indicator, it's also the December payroll numbers ... they'll be quite critical." "Our view is that the Fed will probably start cutting rates when inflation goes below the 3% mark. The weaker-than-expected data weighed on Treasury yields, with the yield on benchmark 10-year notes slipping 9.6 basis points on Monday. The dollar index , a measure of the greenback against a basket of currencies, fell to 103.07, its lowest since Aug. 31. Data showed retail sales in Australia unexpectedly slipped in October as consumers cut back on everything but food, though analysts believe many were merely saving some money to splurge on Black Friday sales that took place this month.
Persons: DAX, Vasu Menon, they'll, Menon, Dave Ramsden, Christine Lagarde, Jerome Powell, HSI, Brent, Ankur Banerjee, Sam Holmes, Kim Coghill Organizations: Federal, Investors, OCBC Bank, of England, European Central Bank, Japan's Nikkei, Treasury, New Zealand, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Singapore, U.S, Hong Kong, Australia
While emerging market and Asian equities clocked up decent gains on Tuesday, Wall Street struggled to make much headway despite a seemingly constructive market and economic backdrop. The dollar, Treasury yields, and stock market volatility all fell, and U.S. consumer confidence was higher than expected. Fed Governor Christopher Waller - thought to be close to Fed Chair Jerome Powell's thinking on policy - also signaled that U.S. interest rates could be cut in the months ahead. Thailand's central bank is also expected to keep rates on hold, at 2.50%, through the middle of 2025. Here are key developments that could provide more direction to markets on Wednesday:- New Zealand interest rate decision- Thailand interest rate decision- Australia inflationBy Jamie McGeever Editing byOur Standards: The Thomson Reuters Trust Principles.
Persons: Issei Kato, Christopher Waller, Jerome Powell's, That's, Michele Bullock, Jamie McGeever Organizations: U.S, REUTERS, Wall, Treasury, Fed, Nasdaq, Reserve Bank of New, New Zealand, Reserve Bank of Australia, Thomson, Reuters Locations: Tokyo, Japan, New Zealand, Thailand, Australia, U.S, Thailand's, Zealand
A year after passing a world-leading smoking ban designed to save thousands of lives and prevent new generations of young adults from smoking, New Zealand has announced a u-turn to help pay for tax cuts, infuriating public health officials and anti-tobacco groups. Marty Melville/AFP/Getty ImagesNew Zealand’s initial smoking ban was hailed by public health officials around the world. Months after New Zealand’s announcement, Britain also unveiled plans to phase out smoking for new generations. A spokesperson for British Prime Minister Rishi Sunak said that the British government remained committed to phasing out smoking, even after New Zealand’s reversal. The anti-smoking group Health Coalition Aotearoa (HCA) expressed disappointment at the new coalition’s plans to repeal the smoking ban.
Persons: Chris Luxon, Luxon, Christopher Luxon, Marty Melville, Rishi Sunak, , Nicola Willis, Saturday, Mario Tama, Ayeshea Verrall, “ What’s, ” Verrall Organizations: CNN, National Party, New Zealand First, ACT New, Radio New Zealand, Government House, Getty, British, World Health, Radio New, Health Coalition Aotearoa, New Zealanders Locations: New Zealand, ACT New Zealand, Wellington, AFP, Britain, Los Angeles , California, Radio New Zealand, New
[1/2] Vape pens stand in a display cabinet at a vape store, in Melbourne, Australia, May 2, 2023. REUTERS/Sandra Sanders/File Photo Acquire Licensing RightsSYDNEY, Nov 28 (Reuters) - Australia will ban imports of disposable vapes in January, the Health Minister said on Tuesday, the first step in a crackdown aimed at curbing the growing popularity of these nicotine-filled devices with young people. Despite one of the lowest rates of smoking in the OECD, a group of mostly rich countries, vaping in Australia is growing rapidly, especially among the young. First flagged in August, the reforms aim to curb the device's popularity in response to research showing the potential for long-term harm. To ensure the bans don't limit access for smokers looking to quit, doctors and nurses will be given expanded powers in January to prescribe therapeutic vapes where clinically appropriate.
Persons: Sandra Sanders, Mark Butler, Butler, Lewis Jackson, Miral Organizations: REUTERS, Rights, Health, Australian Border Force, Therapeutic Goods Administration, OECD, Thomson Locations: Melbourne, Australia
As tempers flared on a recent evening in a nightlife district in Auckland, New Zealand’s largest city, Joanne Paikea sensed an altercation — or even an arrest — brewing. “Bro, you know the cops are behind us,” she said, describing her efforts to soothe the surging tension between two groups. “So you’re either going to listen, or get arrested. The role of policing has recently come under the microscope in New Zealand, where lurid crime stories have dominated headlines. Shootings, gang tensions and scores of ram raids — when miscreants smash into stores with cars to loot them — have rattled the peaceful nation and became an important issue in last month’s election.
Persons: Joanne Paikea, “ Bro, , you’re, Paikea Organizations: New Locations: Auckland , New, New Zealand
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