{"id":7142,"date":"2022-11-02T19:14:58","date_gmt":"2022-11-02T06:14:58","guid":{"rendered":"https:\/\/forwardaccounting.co.nz\/business-update-2-november-2022\/"},"modified":"2022-11-14T16:05:56","modified_gmt":"2022-11-14T03:05:56","slug":"business-update-2-november-2022","status":"publish","type":"post","link":"https:\/\/forwardaccounting.co.nz\/business-update-2-november-2022\/","title":{"rendered":"Business Update \u2013 2 November 2022"},"content":{"rendered":"
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.<\/p>\n
Retail New Zealand said this week that there is no end in sight for rising prices due to inflation<\/a>. The increases are expected to continue well into next year and affect everything from groceries to electronics to clothing.<\/p>\n The eye-watering price is nearly twice the average high<\/a> for peak travel times in December. International routes are still operating on reduced capacity, and some say travel wasn\u2019t opened early enough for airlines to recoup costs which would have allowed them to offer more flights.<\/p>\n The flurry of real estate activity that spring typically ushers in just isn\u2019t happening this year. Only 33% of houses offered last week ended up selling<\/a>.<\/p>\n A recent stress test showed that the Reserve Bank can withstand a 47% drop in housing prices<\/a>, even if unemployment tops 9%.<\/p>\n The Green Party\u2019s finance spokesperson Julie Anne Genter is calling for a tax on excess profits made by major corporates<\/a>. She states that large companies are making record profits while Kiwis struggle to pay for the basics.<\/p>\n The Fund\u2019s annual report showed that volatile market conditions have resulted in a $3.3 billion loss for the NZ Super Fund<\/a>.<\/p>\n The massive factory complex in Zhengzhou city was hit with a wave of COVID-19, causing thousands of employees to flee<\/a>. About 200,000 people work at the factory. It\u2019s unclear how the outbreak will disrupt production.<\/p>\n A large handful of vessels loaded with grain left the port of Odesa on Monday<\/a>. The shipment is a joint effort supported by the UN and Turkey and is meant to stave off a global hunger crisis.<\/p>\n Learning new skills as an adult can be extremely intimidating, and is anxiety-inducing for some. But, many of us are grappling with the reality of being a beginner as we switch careers. Learn four key ways that you can embrace the transition here<\/a>.<\/p>\nAirfare reaches $1200 one-way to Sydney<\/h3>\n
Auction activity still quiet<\/h3>\n
Banks strong enough to cope with enormous fall in housing prices<\/h3>\n
Greens call for windfall tax for major corporates<\/h3>\n
NZ Super Fund loses $3.3 billion<\/h3>\n
China\u2019s workers flee Apple\u2019s biggest iPhone factory following COVID-19 outbreak<\/h3>\n
Ukraine ships record tonnage of grain despite warnings from Russia<\/h3>\n
How to ease \u201cbeginner\u2019s mind\u201d<\/h3>\n
Inland Revenue deletes \u201cmean-spirited\u201d Halloween tweet after criticism<\/h3>\n