Unions have rejected a call from Finance Minister Bill English for further restraint in wage increases because of the low-inflation environment.

The cost of hiring consultants, or re-hiring experts made redundant and cost-saving cock-ups must tally in the millions, writes Dita de Boni.

Prices continued to improve at this morning’s GlobalDairyTrade auction, the GDT price index gaining 1 per cent since the last sale a fortnight ago.

The price of petrol keeps plunging but the savings are yet to ignite discounts for consumers elsewhere in the economy.

Auckland house values rose at almost twice the rate of the rest of New Zealand, up 9.8 per cent or $68,309 in the last year.

Falling milk powder prices have hit consumers' economic confidence in the key dairy regions of Southland and the Waikato, says Westpac.

Dairy farmers were offered a respite from what has so far been a dismal season for prices after the GlobalDairyTrade index gained 3.6 per cent at the first auction for 2015.

People generally take a jaundiced view of politicians being recognised in the New Year Honours.

Looking back on 2014 New Zealand's historians will see an unremarkable election. The economy was booming, the Government stable, the Prime Minister popular and opinion polls giving his party every prospect of a comfortable re-election.

The perception for more than a decade has been of a state ridding itself of a reliance on oil and gas exports and diversifying in a manner befitting a high-tech, modern economy.

City comes out swinging over Government suggestion that ratepayer cash be used to prop up SkyCity's international convention centre.

Here are four reasons why President Barack Obama's decision last week to re-establish diplomatic relations with Cuba was a good idea.

A Government proposal that ratepayers help cover a potential $130m blowout in the cost of SkyCity’s new convention centre is going down poorly with several councillors.

SkyCity's bid to build the convention centre was accepted for one reason: it did not need public money. Unless it can meet its side of the bargain, all bets are off.

SkyCity chief executive Nigel Morrison yesterday also confirmed his company wants a taxpayer-funded top-up and was willing to walk away from the deal if it doesn't get it.

All politicians like to have props, and in Vladimir Putin's case, some are taken from the box marked Macho and others from the box marked Mother Russia.

Dairy prices mostly improved at this morning’s GlobalDairyTrade auction, the GDT price index gaining 2.4 per cent.

Our political leaders have shown how resolute they can be by ignoring calls from the narrow-minded and selfish to deny outsiders access to our El Dorado, writes Peter Lyons.

In his first speech as the leader of China, President Xi Jinping identified corruption as a major priority.

The Fonterra Shareholders Council is "broadly supportive" of plans for the co-operative to start sourcing milk from South Island suppliers who are not also shareholders.

It has housed the world's largest water chute, welcomed the Empire of India exhibition and hosted David Bowie and the most disastrous concert of his career.

The collapsing oil price that is reshaping the global economy could derail the green energy revolution by making renewable power sources prohibitively bad value.

New Zealand Herald economics editor Brian Fellow gives expert opinion and analysis on the Reserve Bank's decision to keep the official cash rate at 3.5 per cent.

New Zealand food prices fell in November led by cheaper spring time vegetables and cheese prices.

The medium to long term outlook for NZ dairy farmers remains sound, despite yesterday's payout cut, says rural lender Rabobank.

Fonterra said it had launched a separate milk sourcing subsidiary - mymilk - to grow its market share in the South Island.

An industry has grown around the obsession on housing, writes Mike Hosking. And none of this had to be the case. The mistake was getting politicians involved.