Market Prevails

New Zealand’s stock market, worth a total of around only $48 billion, is one of the world’s best performing this year despite the effects of the Christchurch earthquake, a weak economy and a foreign debt burden on a par with Greece. Managing director at Wellington-based Harbour Asset Management Andrew Bascand said: “The earthquake was a dreadful disaster but what it’s done has been to keep monetary policy easy, at the same time as a massive amount of money is flowing in for the rebuild from the global reinsurance companies.” The currency is now trading close to a 3-year high. A post-quake rebuilding plan due to start over the next six months anticipates spending of $12.5 billion – equal to around 7 per cent of gross domestic product.


Tags: Christchurch earthquake  New Zealand stock market  Reuters  

Allbirds Puts a Label on Fashion’s Climate Impact

Allbirds Puts a Label on Fashion’s Climate Impact

Allbirds’ sustainability lead Hana Kajimura talks to The Guardian’s Nadra Nittle about why the company, founded by New Zealander Tim Brown and American Joey Zwillinger, uses carbon labelling to raise consumer…