What's happening in the world of business, finance and economics today? We have the latest business, markets, currency and personal finance news, opinion and financial market reports.
1. City Rail Link
The $2.5 billion City Rail Link has its ground-breaking ceremony this morning at 10.30am, Britomart Transport Centre, Lower Queen St. This is the city's most important transport project, creating the crucial link between Britomart, the no-thoroughfare terminal, through the CBD and up to Mt Eden.
Big new Ponsonby supermarket, about to open, hosts an event early this morning. Countdown Ponsonby is opening in what was once the Soho development pit, spanning three streets frontages. Countdown managing director Dave Chambers will be there this morning, along with guests, those involved in the planning and construction of the new building and other supermarket executives. The huge new store is opening on the corner of Ponsonby Rd and Williamson Ave and is in the Cider Building which is part of the wider Vinegar Lane development, containing apartments, shops, offices and carparking.
Media business Fairfax has taken a 12-year lease on offices at the project.
The NZ Hotel Industry Conference continues today at The Langham, Auckland. How to avoid the boom-bust, the right time to invest, Chinese activity in New Zealand and how to get the community on board are some of the topics being discussed this morning. How are influential industry players marketing New Zealand, targeting new audiences and markets? When can we expect to see a return from the new focus? How are they targeting different sectors such as the cruise, luxury, events, C&I, and international and domestic markets?
Retail sales data is due out there today.