The receivers for the Jean Jones clothing stores confirmed today that they have sold the business, with the new owners to take over on 1 June 2011.

New Zealand companies succeeding internationally are invited to enter the 2012 New Zealand International Business Awards.

Entry forms are available from the New Zealand Trade and Enterprise (NZTE) website (www.nzte.govt.nz/awards) and need to be submitted by 5pm, 17 June 2011.

Independent Director Gavin Walker to Become Chairman

The long-serving Chairman of ASB Bank, Gary Judd QC, has announced his intention to retire following the August 2 board meeting.

Partners Michele Embling and Karen Shires have been appointed members of the New Zealand Accounting Standards Board (NZASB) and the New Zealand Auditing and Assurance Standards Board (NZAuASB) from 1 July 2011.

Beef + Lamb New Zealand has switched its promotional focus in the United Kingdom from mass media marketing of New Zealand lamb, to a more targeted programme that aligns with the individual commercial needs of exporting companies.

Sentiment was contained by weak US data. Homes sales, the Conference Board's leading index, and Philadelphia regional business conditions were all lower than consensus, halting a minor advance in US equities fuelled by an earlier drop in jobless claims. The S&P500 is currently unchanged.

Changes to KiwiSaver in today's Budget Bill may be material to decisions about whether to invest in a KiwiSaver scheme.

Today's Budget does nothing for jobs when unemployment is high and risks prompting a return to recession. It forecasts low growth continuing this year, and that even by March 2012, unemployment will still remain high at 5.7 percent.

The KiwiSaver changes announced in the Budget do not alter the need for people to save for their retirement, but they will make the journey to your savings goal much tougher.

That's according to Workplace Savings NZ, the voice of workplace savings.

The Head of Wealth for Westpac in New Zealand says the Budget shows the Government is committed to KiwiSaver as a long term saving vehicle for New Zealanders.