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"My family and I are delighted to partner with Rosewood Hotels & Resorts to continue the personal style of hotel management our parents put in place when they opened The Lodge at Kauri Cliffs over 20 years ago", Jay Robertson, Julian's son and chief executive officer of Robertson Lodges, said in a statement Tuesday. (Bloomberg) -- Luxury hotel operator Rosewood Hotels & Resorts will take over the management of the late hedge fund billionaire Julian Robertson's three resorts in New Zealand. [Extracted from the article]

(Bloomberg) -- New Zealand's government plans to focus on trade diversification to help insulate its economy from the slowdown in key trading partner China, Prime Minister Chris Hipkins said. Earlier Wednesday, Hipkins unveiled his Labour Party's economic priorities ahead of the Oct. 14 election, one of which was to expand export opportunities by pursuing more free trade agreements. [Extracted from the article]

Since taking office in 2017, the Labour Party has overhauled the Reserve Bank, expanding its mandate to include both stable prices and maximum sustainable employment, introducing a new policy committee and changing its governance structure. (Bloomberg) -- New Zealand's main opposition National Party would quickly remove the central bank's dual mandate and return it to a sole focus on inflation if it wins the October election. National leader Christopher Luxon told Bloomberg in February last year that he wanted to simplify the central bank's mandate to ensure it achieves its price stability goal of 1-3% inflation over the medium term. Willis said restoring the single mandate would provide certainty that the RBNZ is focused on inflation. [Extracted from the article]

(Bloomberg) -- Foreigners will be able to purchase property in New Zealand worth more than NZ$2 million ($1.2 million) if the country's main opposition National Party wins the October election. The ruling Labour Party introduced the ban on foreign buyers in 2018, saying that overseas speculators had driven up house prices and made property unattainable for many young Kiwis. [Extracted from the article]

Financial crime experts at major banks, including Wells Fargo & Co. and Deutsche Bank AG, say the fraud boom on the horizon is one of the biggest threats facing their industry. "It's a fair bet that over the next two or three years we're going to see more AI-generated criminal attacks", says Pope, a former deputy commissioner in the New Zealand Police who oversaw some of the nation's highest-profile criminal cases. [Extracted from the article]

Australia, which hosted the tournament alongside New Zealand, went football crazy after the Matildas, as the team is known, enjoyed unprecedented success in the World Cup. (Bloomberg) -- Women's sport in Australia will get a A$200 million ($128 million) funding boost as Prime Minister Anthony Albanese's government builds on the momentum created by the national team's captivating run at the Women's World Cup. [Extracted from the article]

(Bloomberg) -- The FIFA Women's World Cup kicks off in Auckland on Thursday evening under the shadow of a shooting in New Zealand's largest city that left three people dead and five injured. The incident took place just a short distance from hotels where a number of the World Cup teams are staying. [Extracted from the article]

(Bloomberg) -- A gunman killed two people and injured six others in downtown Auckland on Thursday, just hours before the FIFA Women's World Cup is due to kick off in New Zealand's largest city. The area where the incident occurred is Auckland's main business and entertainment hub and a number of World Cup teams, including the US squad, are staying at hotels there. [Extracted from the article]

(Bloomberg) -- A gunman killed two people and injured five others in downtown Auckland on Thursday, just hours before the FIFA Women's World Cup is due to kick off in New Zealand's largest city. The shooting comes just hours before Auckland hosts the opening ceremony of the 2023 Women's World Cup, with the first game between New Zealand and Norway scheduled for this evening. [Extracted from the article]

(Bloomberg) -- New Zealand police said a gunman and two other people are dead after a shooting incident in downtown Auckland on Thursday. "Police have contained a serious incident that unfolded at a construction site in Auckland's CBD this morning", Acting Superintendent Sunny Patel said in a statement. [Extracted from the article]

(Bloomberg) -- New Zealand inflation slowed less than economists expected in the second quarter even as petrol prices fell and the central bank's aggressive interest-rate hikes curbed household spending. Other Details Non-tradables prices increased 1.3% in the quarter; economists expected 1% Led by construction costs, rents and electricity Tradables prices increased 0.8% in the quarter; economists expected 0.9% Led by food and international airfares Tradables rose 5.2% from a year earlier Prices for construction of new houses were up 1.1% for the quarter and 7.8% for the year Gasoline prices fell 1.5% in the quarter and were down 15% for the year Food prices increased 2.2% in the quarter and 12.3% for the year Consumer prices excluding food, fuel and energy rose 6.1% from a year earlier. While the economy has stalled, domestic price pressures remain intense, suggesting it will be some time before inflation returns to the bank's 1-3% target range. [Extracted from the article]

Economists expected 5.9% while the Reserve Bank had forecast 6.1%. (Bloomberg) -- New Zealand inflation slowed less than economists expected in the second quarter even as a fall in the cost of petrol and the central bank's aggressive interest-rate hikes reduced price pressures. [Extracted from the article]

The San Francisco-based company's management has met with firms including Barrenjoey Markets Pty Ltd and Shaw & Partners Ltd. to select a broker line-up, the newspaper reported. (Bloomberg) -- Health technology firm Enlitic is considering an ASX listing, the Australian Financial Review reported Sunday, without saying where it got the information. [Extracted from the article]

Read more: Cathie Wood Boosts Coinbase Stake as SEC Crypto Crackdown Widens Ark is the fourth-largest holder of Coinbase and has been adding to its stake on dips for nearly a year. (Bloomberg) -- Cathie Wood said Binance Holdings Ltd.'s US legal problems will benefit Coinbase Global Inc. because it would eliminate its main competition. [Extracted from the article]

(Bloomberg) -- The Australian Treasury will examine its use of PricewaterhouseCoopers as its internal auditor given the public perception of the firm at the center of a growing tax scandal. Finance Minister Katy Gallagher said while PwC's conduct relating to the tax scandal has been "outrageous", it was not a breach of procurement contract. [Extracted from the article]

Finance Minister Katy Gallagher said while PwC's conduct relating to the tax scandal has been "outrageous", it was not a breach of procurement contract. (Bloomberg) -- The Australian Treasury will examine its use of PricewaterhouseCoopers as its internal auditor given the public perception of the firm at the center of a growing tax scandal. [Extracted from the article]

Multinational companies Global anti-base erosion rules impose a tax on some large multinational firms operating in New Zealand where their income - either in New Zealand or other countries - bears an effective tax rate of less than 15%. (Bloomberg) -- Measures aimed at easing the pressure on "under-the-pump" New Zealand households were given priority in the budget announced by Finance Minister Grant Robertson Thursday in Wellington. [Extracted from the article]

(Bloomberg) -- A hostel fire in New Zealand's capital city Wellington has claimed as many as 10 lives, with several people still unaccounted for. Finance Minister Grant Robertson, the member of parliament for Wellington central, said some of the people staying in the hostel are vulnerable, don't have a permanent home and have lost everything in the fire. [Extracted from the article]

(Bloomberg) -- A hostel fire in New Zealand capital city Wellington has claimed at least six lives, with several people still unaccounted for. The New Zealand Herald said as many as 30 people may be unaccounted for. ©2023 Bloomberg L.P. [Extracted from the article]

(Bloomberg) -- New Zealand unemployment held steady in the first quarter while wage inflation accelerated, suggesting the central bank is likely to press ahead with another interest-rate hike later this month. Employment gained 0.8% from the previous three months, beating estimates, while wage inflation quickened to 4.5%. [Extracted from the article]

Employment gained 0.8% from the previous three months, beating estimates, while wage inflation quickened to 4.5%. (Bloomberg) -- New Zealand unemployment held steady in the first quarter while employment rose and wage inflation accelerated. [Extracted from the article]

Latest polls have Labour slightly ahead of the main opposition National Party, with both needing the support of minor parties to achieve a majority. (Bloomberg) -- New Zealand's governing Labour Party has been hit by the defection of a minister just five months before the nation holds a general election. [Extracted from the article]

The Reserve Bank is raising interest rates at record pace to curb demand and predicts the economy will enter a recession this year, which should see the labor market soften. (Bloomberg) -- New Zealand unemployment held steady in the first quarter while employment rose. The RBNZ's next policy meeting is on May 24 and most economists expect it to deliver a final 25 basis-point hike, bringing its tightening cycle to a close with the Official Cash Rate at 5.5%. [Extracted from the article]

"Inflation is still running red-hot and it remains well outside the central bank's target range", said Satish Ranchhod, senior New Zealand economist at Westpac in Auckland. At the same time, the RBNZ is concerned that recent severe weather events in the North Island have boosted prices for some goods and services, and that persistently high headline inflation could see inflation expectations stay above its 1-3% target range. (Bloomberg) -- New Zealand inflation slowed more than economists expected in the first quarter, suggesting price pressures have peaked and the central bank may soon call an end to its aggressive tightening cycle. [Extracted from the article]

(Bloomberg) -- New Zealand inflation slowed more than economists expected in the first quarter, suggesting price pressures have peaked and the central bank may not need to keep raising interest rates so aggressively. At the same time, the RBNZ is concerned that recent severe weather events in the North Island have boosted prices for some goods and services, and that persistently high headline inflation could see inflation expectations stay above its 1-3% target range. [Extracted from the article]

(Bloomberg) -- House prices in Sydney - a bellweather for the Australian real estate market - may have found a floor as a home shortage and the central bank's rate-hike pause stem declines, according to a report by Bloomberg Intelligence. Signs that Sydney prices may have bottomed will be welcomed by the Reserve Bank of Australia, which is trying to engineer a soft landing while reining in inflation. [Extracted from the article]

(Bloomberg) -- Former New Zealand Prime Minister Jacinda Ardern urged women not to let motherhood stand in the way of leadership roles as she bowed out of politics. Ardern will be remembered as a crisis manager who led her country through some of its darkest days during her five-year premiership. [Extracted from the article]

(Bloomberg) -- New Zealand health authorities said an overseas visitor died from rabies, the first time ever the disease has been detected in the nation. New Zealand imposes strict biosecurity measures on animals entering the country and is one of a small number of places around the world to remain free from rabies. [Extracted from the article]

(Bloomberg) -- New Zealand's economy contracted by more than expected in the final three months of 2022, putting it on the brink of recession and prompting investors to lower bets on the pace of further interest-rate hikes. Should the economy fail to expand in the current cyclone-hit quarter, as some economists forecast, it would have entered a recession six months earlier than the Reserve Bank predicted. [Extracted from the article]

Most economists predict a 25 basis-point hike at its next review on April 5 and investors have pared bets on the RBNZ delivering a 50-point hike. (Bloomberg) -- New Zealand's economy contracted by more than expected in the final three months of 2022, putting the nation on the brink of recession and sending the currency lower. [Extracted from the article]

Should it fail to expand in the current cyclone-hit quarter, as some economists forecast, the country would have entered a recession six months earlier than the Reserve Bank predicted. Most economists predict a 25-point hike at its next review on April 5 and investors have pared bets on the RBNZ delivering a 50-point hike. (Bloomberg) -- New Zealand's economy shrank by more than expected in the fourth quarter, leaving the nation on the brink of recession. [Extracted from the article]

The earlier storm has left the city particularly vulnerable to more rain due to already saturated soil, with officials warning that unstable trees may topple and low-lying areas may face inundation. (Bloomberg) -- Many New Zealanders have been told to have grab bags ready to go, prepare emergency supplies and secure their properties as a powerful tropical cyclone heads toward the nation just two weeks after the country's largest city of Auckland was pummeled by a severe summer storm. Officials, in particular Auckland Mayor Wayne Brown, have been criticized for being slow with communication about that storm and in declaring a state of emergency. [Extracted from the article]

(Bloomberg) -- New Zealand Prime Minister Chris Hipkins has antagonized the small Maori Party by suggesting the government may slow down work on co-governance arrangements with the nation's indigenous people. Hipkins must tread carefully, not only because of the sizable contingent of Maori MPs in his Labour Party caucus but also because he may need the Maori Party to form a coalition government after the Oct. 14 election. Maori Party Dismayed as PM Hipkins Signals Co-Governance Slowdown. [Extracted from the article]

Auckland Emergency Management officials are working to secure fresh water supplies around the city and assessing flood damage to property, with more than 5,000 homes needing to be examined. (Bloomberg) -- Aucklanders are braced for more heavy rain just a day after New Zealand's largest city was hit by a severe summer storm that left at least four people dead. [Extracted from the article]

(Bloomberg) -- Treasurer Jim Chalmers pledged to deliver "values-based capitalism" in Australia by revamping markets, renovating institutions and urging the private sector to co-invest with the government as the global economy confronts an inflation crisis. Chalmers said the way markets allocate and arrange capital also needs restructuring. [Extracted from the article]

Air New Zealand said it's unable to resume international flights from Auckland until 12 p.m. Sunday because of significant damage to ticketing, baggage and processing equipment. (Bloomberg) -- New Zealand's biggest airport delayed the reopening of its international terminal Saturday because "critical components" of the infrastructure were damaged by severe flooding after a sudden summer storm. [Extracted from the article]

(Updates with comment from Hipkins, Auckland Airport) ©2023 Bloomberg L.P. "Having just surveyed some of the extensive damage both on the ground and in the air, it's clear that it's going to be a big cleanup job", Hipkins said at a press conference in Auckland after flying from Wellington on a Defence Force aircraft. (Bloomberg) -- Auckland has been left reeling after an intense summer storm battered New Zealand's largest city, killing three people and prompting the international airport to halt flights. [Extracted from the article]

Prime Minister Chris Hipkins, who took over the position from Jacinda Ardern on Wednesday, is due to fly to Auckland from Wellington on a New Zealand Defence Force aircraft. (Bloomberg) -- Auckland has been left reeling after an intense summer storm battered New Zealand's largest city, killing two people and prompting international and domestic flight cancellations. The storm that hit Auckland is the latest example of extreme weather events that have become increasingly common globally due to climate change and the third straight year of La Nina - something that's only happened twice since 1950. [Extracted from the article]

(Bloomberg) -- Jacinda Ardern is likely to require an unprecedented level of security for a former New Zealand prime minister given the extent of the abuse and threats she faced while in office. Both Hipkins and former prime minister Helen Clark have in recent days called out the misogyny and hatred directed at Ardern. [Extracted from the article]

While Ardern's departure robs Labour of its most charismatic campaigner, Hipkins as a new leader has the ability to row back some of the party's unpopular policies and help it regain support. (Bloomberg) -- Incoming New Zealand Prime Minister Chris Hipkins will prioritize the economy as a recession looms and may jettison some of Jacinda Ardern's policies as he seeks to win back the political middle ground ahead of an October election. Labour, which is trailing the main opposition National Party in opinion polls, moved swiftly to unite behind Hipkins and ensure a smooth leadership transition following Ardern's shock resignation last week. [Extracted from the article]

(Bloomberg) -- Chris Hipkins has been confirmed as New Zealand's next prime minister after the ruling Labour Party endorsed him to succeed Jacinda Ardern as its leader. Ardern Tribute Hipkins paid tribute to Ardern, "my very good friend", saying the country was in a better place because of her. "She's been one of New Zealand's great prime ministers", he said. [Extracted from the article]