NZL UNEMPLOYMENT RATE DOWN AGAIN ... this time to 4.9% and better than market expectations. Interesting that over the period 1985-2016 our unemployment rate averaged 6.13%. There are lies, damned lies and statistics ... this is a good statistic.
NZL BEST PLACE TO DO BUSINESS ... this from the World Bank. NZL has displaced Singapore from its place as No. 1 ... a position it has held for the last decade. Labour and the Unions are crying fowl/foul but what's new? The more astute might detect a degree of correlation with the previous headline.
DAIRY PRICES SURGE with whole milk powder up 20% in the latest GDT auction. This is the sixth increase in seven auctions and comes on the back of a tightening of supply. Another 'crisis' solved (and by the market too). Labour's crisis cupboard is increasingly bare.
McCULLY/MFAT ABSOLVED OF ILLEGALITY on the Saudi sheep deal. The A-G's report made clear it was not a lot of things that had been claimed. "It
was not corrupt, it was not a bribe and it was not a facilitation
payment (as had been
alleged in Parliament) ... The payments to the Saudi businessman were
made as part of a legally valid contract for services and were spent
with the necessary approvals" ... Lyn Provost, Auditor-General. There are other aspects of the report that do not reflect well on the players but, for me, the bottom line is that McCully was attempting to achieve cut-through in a trade deal with the Saudi's ... a trade deal that will benefit NZL. Sometimes to make it happen you need to think outside the square. That's politics and politics ain't prissy.
It’s a Blizzard
3 hours ago