Labour Party Launches Its Re-Election Campaign | NZ Market Update

The Labour Party has released its re-election campaign with a plan to invest $311 million to create employment opportunities in New Zealand. About 40,000 jobs shall be supported through $311 million investment to keep people off the unemployment benefit; The business subsidy shall be offered on an average of $7500 to $22,000, to hire unemployed New Zealanders; Ring-fenced fund will help jobless people start their own business.

As per a report published by Retail NZ, the retailer confidence remained optimistic in July, developing on the strong bounce-back registered in June after the lockdown was lifted. As per a Retail Radar survey: 75% of retailers were feeling confident or very confident that their business will survive the next 12 months; Earlier in May, this figure was 39%; however, 13% are expecting to make employee cut when the Wage Subsidy ends.

Centuria New Zealand Holdings Limited has received sufficient acceptances of its takeover offer for Augusta Capital Limited (NZX:AUG) so that after the acquisition of those shares, Centuria will own more than 90 per cent of the AUG’s shares. Centuria shall become the principal owner of Augusta for the objectives of the compulsory acquisition; Centuria has also advised that after becoming a dominant owner, it shall start the compulsory acquisition procedure under the Takeovers Code to acquire all the residual ordinary shares in Augusta.

#LabourParty #NewZealand #AUG #Kalkine



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