Weekly Digest – 29 November 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

What the new government means for economy, business

The three governing parties are vowing to lower the cost of living and create new jobs, while cutting government spending. Here’s how the new Government will address some other issues.

Black Friday sales slump by 10 percent

Retail NZ says Black Friday sales were down by about 10 percent this year. Carolyn Young, the chief executive of the advocacy group, said the American tradition of Black Friday sales, held the day after Thanksgiving, has become increasingly important for retailers and shoppers in New Zealand over the past five years. She said this year without exception sales were trending down.

198 million dollars lost to scams in the last year

Just under $200 million dollars was lost to scams over the last year according to 11 of New Zealand’s largest financial institutions. The figure has been released as MBIE launched Fraud Awareness Week 2023.

Dairy owners secure common sense wins from the new government

Dairy owners are celebrating a big win for common-sense after seeing its policy positions on crime and business, reflected in the new Coalition Government’s policy platform.

Economists predict drop in retail spending as household budgets squeezed

Third quarter retail trade figures are expected to reflect a difficult period for consumers, retailers and the economy. Stats NZ is expected to release the latest retail sales data shortly, with economists forecasting a further drop in overall spending.

What does the new government want to scrap before Christmas?

The freshly-passed Resource Management Act (RMA) reforms look set to be first on the chopping block as the new coalition government settles into power.

Who gets what? List of New Zealand’s new ministers

The new government was announced last week – bringing an end to coalition negotiations between National, ACT and New Zealand First. With the three parties announcing their joint plans, a  cabinet has been assembled, with representatives from all parties.

NZ’s largest solar farm powers up

A “new era” for energy in New Zealand is underway, with the country’s largest solar installation now generating electricity. Lodestone Energy, NZ’s leading utility-scale solar energy company, began generating electricity at its farm in Kaitāia in late November. It is the country’s largest solar installation to date and the first solar farm in NZ to bid into the electricity market.

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