Key hints over KiwiSaver, GFC enters new phase, NZX50’s social media lag and TVNZ’s sponsorship push

Prime Minister John Key says the government may drop its compulsory KiwiSaver policy.

The government’s plan to auto-enrol every employee not already in the scheme was to start this year but was pushed out to 2015.

In today’s National Business Review print edition, Mr Key says the Treasury advises there is limited benefit to auto-enrolment, and he adds most people who want to be in KiwiSaver are already members.

Mr Key also talks election issues and unfinished business with political editor Rob Hosking, and why National is taking a more “sophisticated” approach to New Zealand’s long-term issues.

In Economically Speaking, Neville Bennett warns the GFC is not over yet. He says it has moved through several phases and asset bubbles are developing – particularly involving those who chase yields in entities such as Chinese wealth management products.

Research involving Summerset Group chairman Rob Campbell’s company Tutanekai Investments reveals how New Zealand’s top companies are lagging in social media use, with only 20 of NZX50 companies using Facebook effectively and only three – Air New Zealand, Telecom and TradeMe – using Twitter actively (although you could surely add Xero to that list.)

In other news, media reporter Victoria Young details TVNZ’s push to make sponsorship a stronger revenue stream, with 14 sponsored shows already on the air.

This week, NBR begins Lobby Watch, a series of articles examining the presence, role and influence of lobbying in the lead-up to the general election. Reporter Jamie Ball lobs curly questions at PR folk over their use of Google and Wikipedia.

Business reporter David Williams traverses the various fortunes of fish oils manufacturer SeaDragon and Auckland Council-owned Ports of Auckland – and why the taxman isn’t likely to bother the latter any time soon.

Michael Coote, writing in On The Money, says there may be lessons for New Zealand in Australia’s experience of a high currency exchange rate driven by its booming export sector.

Briefly:

  • In Tray unveils a new political scandal sweeping TVNZ, as – shock, horror – a “senior figure” is overheard speaking enthusiastically about the current state of the economy, and, further, suggesting such improvement was thanks to the current government.
  • In Foreign Affairs, Nathan Smith argues the US could be the world’s next emerging economy.
  • In Initiative Matters, Bryce Wilkinson tackles the tax churn money-go-round and the high cost on society.

All this and more in today’s National Business Review. Out now.


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NZ Market Snapshot

Forex

Sym Price Change
USD 0.7274 -0.0015 -0.21%
AUD 0.9148 -0.0006 -0.07%
EUR 0.6124 0.0011 0.18%
GBP 0.5381 -0.0016 -0.30%
HKD 5.6827 -0.0092 -0.16%
JPY 81.6440 -0.2900 -0.35%

Commods

Commodity Price Change Time
Gold Index 1293.3 6.130 2017-09-22T00:
Oil Brent 56.4 0.420 2017-09-22T00:
Oil Nymex 50.7 0.110 2017-09-22T00:
Silver Index 16.9 -0.034 2017-09-22T00:

Indices

Symbol Open High Last %
NZX 50 7819.4 7870.9 7814.8 0.70%
NASDAQ 6401.4 6429.5 6422.7 0.07%
DAX 12573.4 12633.1 12592.4 0.14%
DJI 22334.1 22364.3 22359.2 -0.04%
FTSE 7310.6 7310.6 7310.6 -0.28%
HKSE 27851.5 27851.5 27880.5 -1.36%
NI225 20439.4 20454.3 20296.5 0.50%
ASX 5682.1 5710.4 5682.1 0.03%