The Reserve Bank can be expected to keep the official cash rate at 1.75% at its latest review this Thursday. Watch, though, for something of a shift in the economic outlook. That shift will not be negative – far from it. But the monetary policy statement that will accompany the OCR decision is likely to flag some significant changes from the previous statement, back in February.

Read more ($): https://www.nbr.co.nz/opinion/watch-careful-muted-shift-reserve-bank-stance-today

French voters have again rejected a bid for the presidency from the nationalist right. Latest projections based on counting so far gives Emmanuel Macron a winning marging of 65.8% to Marine Le Pen's 34.2%. This confirms Mr Macron is widening his lead over earlier projections and polls taken before the election. Mr Macron has addressed a huge crowd at the Louvre museum in Paris, thanking them for "the risks" they have taken.

Read more: https://www.nbr.co.nz/article/french-voters-back-centrist-candidate-macron-wide-margin-ng-202681

Auckland Mayor Phil Goff has cut back the proposed “pillow tax” of 150% for hotels, motels, backpackers and camping grounds. Instead of the $28 million the original proposal was expected to raise, it has now been cut to $17-18 million under the revised proposal. The targeted rate is to be implemented on hotels and motels from July 1 – the start of the council’s new financial year – to pay part of the costs of the Auckland Council-controlled Auckland Tourism, Events and Economic Development (Ateed) agency.

Read more ($): https://www.nbr.co.nz/article/goff-says-pillow-tax-aucklands-hotels-and-motels-be-slashed-sl-p-202693

A declining rate of cash burn, strong results in Australasia and progress in the key British and US markets are what investors will be wanting to see from Xero’s results on Thursday. The accounting software company will be reporting its results for the year ended March and has previously said its cash outflow for the second half should be between $24-29 million. That’s after a total cash outflow of $45.8 million in the first half.

Read more ($): https://www.nbr.co.nz/article/all-eyes-xeros-cash-burn-subscriber-growth-annual-results-jr-p-202682

Strong performances from Air New Zealand and Kathmandu shares helped limit the benchmark Top 50 Index’s losses for the week to just 0.2%. But that follows a very strong rally in April when the Top 50 gained 2.5%. Air New Zealand shares rose 4.7% last week and Kathmandu shares gained 4%. Both companies made upbeat presentations to a conference in Australia last week and Air New Zealand got an additional boost from the sharp fall in oil prices – the West Texas Intermediate crude oil price fell 6.3% last week.

Read more ($): https://www.nbr.co.nz/article/air-nz-kathmandu-shares-shine-after-australian-conference-jr-p-202680

On the eve of Saturday night’s Parker-Cojanu bout, Sky TV says it has now won cases against 13 streaming video pirates – and that it is taking a further eight to court. As NBR reported on December 6, the first six cases were heard as a group. The defendants had all streamed the Parker-Haumono fight live over Facebook Live video, using the low-tech technique of pointing smartphone cameras at their TV screen.

Read more ($): https://www.nbr.co.nz/article/sky-takes-more-parker-fight-pirates-court-ck-p-202647

US President Donald Trump and House Republicans narrowly succeeded in a second effort to pass legislation to repeal and replace the Affordable Care Act, otherwise known as Obamacare. Almost four months after starting their process – and more than 2,500 days after House Democrats passed Obamacare – the House GOP gathered the right amount of votes, the right bill and the right president. The plan passed with a vote of 217-213 mostly along partisan lines. It required 216 votes.

Read more ($): https://www.nbr.co.nz/article/trumps-beltway-obamacare-repeal-finally-passed-and-hillary-clinton-speaks-out-ns-p-202639

Infratil says the rules imposed by the Greater Wellington Regional Council on the tenders for the Wellington region’s bus services meant it was inevitable its NZ Bus was going to lose services. NZ Bus chairman and Infratil executive Kevin Baker says the council had mandated no bus operator could have more than 60% of the region’s bus services operating in Wellington, the Hutt Valley, Kapiti and the Wairarapa.

Read more ($): https://www.nbr.co.nz/article/infratils-nz-bus-only-tendered-three-eight-wellington-bus-contracts-jr-p-202644

The share price of Oceania Healthcare [NZX:OCA] has lifted after listing on the NZX this morning. The aged care provider raised $200 million during its initial public offer, from the issue of 263 million new shares at 79c each. Its share price moved up about 4% to 82c, valuing the company at $494 million, including net debt of $103.2 million.

Read more ($): https://www.nbr.co.nz/article/oceania-knuckling-down-after-listing-nzx-cs-p-202640

Environment Minister Nick Smith is rejecting suggestions his recent Resource Management Act reforms were completed in a shambolic fashion. The government's next moves on RMA will be about long-term reform, probably over the life of more than one government, he says.

Read more ($): https://www.nbr.co.nz/article/consensus-substantive-rma-reform-emerging-nick-smith-claims-rh-p-202626