Weekly Digest – 12 April 2023
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
Morningstar warns investors to be cautious in light of potential central bank rate easing
Market research firm Morningstar released its Australia and New Zealand market outlook for the second quarter of 2023. The report highlighted that it seemed likely that central banks will start to ease rates but warned investors to be cautious.
Banks shift to seven-day processing
Banks in New Zealand have shifted to seven-day payment processing, which means customers will no longer have to wait for payments to clear over weekends. The pandemic prompted the shift to a new system that allows for more frequent electronic payment processing.
Tupperware has “substantial doubt” over its ability to continue operating
Tupperware, the iconic brand known for its food storage containers, is facing potential extinction as shares fell almost 50%. The 77-year-old company has struggled in recent years due to increased competition and declining demand for home products.
Job seekers urged to prepare for tougher job market
New Zealand job seekers are urged to prepare for a tougher job market as we approach the end of the government’s wage subsidy scheme. The subsidy has helped many businesses keep staff on during the pandemic but is due to end in September.
Retention money law change expected in October
Tradies are welcoming a change in the law around retention money, which is a portion of the contract price of building work that is withheld by the client or head contractor. The change will require the money to be held in a separate trust account rather than being mixed with the head contractor’s business account, providing greater security.
IMF predicts interest rates will return to rock-bottom levels post-inflation surge
The International Monetary Fund predicts that interest rates will fall to rock-bottom levels after high inflation passes, following a recent spike. This could provide relief to homeowners and businesses who have seen their monthly repayments surge due to increased interest rates in the past year and a half.
Kiwis turn to home preservation as fruit and vegetable prices soar
As prices for fruits and vegetables continue to soar, more Kiwis are taking to preserving their own produce through canning, bottling, and freezing. According to Foodstuffs NZ, there has been a sharp increase in sales of preserving jars, vacuum sealing machines, and recipes for preserving and canning.
Tiny outback town in Queensland offers $20k grant to attract new residents
The small town of Quilpie in rural Queensland is offering AUD $20,000 in grants to entice new residents to move to the area. The grant is similar to the state and federal first homeowner’s grant and is aimed at providing a cash incentive to encourage people to build and move to the region.
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