Business
NZH
Trucking boss blames wife after firm collapses owing $1m to IRD
The trucking firm director says house and truck sale proceeds were diverted by his wife.
'How the hell Stuff is going to manage ... I don't know': Internal concern ahead of newsroom staff meeting
A meeting of invited Stuff Digital staff will be held across NZ on Wednesday afternoon.
Farm costs could rise as strong El Niño tests agriculture sector
Transpower says key hydro catchments usually get wetter during El Niño years.
Bank boss signals fixed mortgage rate hikes coming ‘pretty soon’
Wholesale interest rates have risen around 30 basis points in the past couple of weeks.
What can governments really do to ease the cost-of-living pain?
ANALYSIS: Liam Dann takes a deeper dive into the week's economic news.
GDT back in positive territory
Prices rise at the latest Global Dairy Trade Auction after a previous decline.
SkyCity sells Auckland’s The Grand hotel to overseas buyer
Sale is part of programme to generate money. Company sold its own headquarters last week.
Is $1m still enough for a comfortable retirement?
At 3% inflation, living costs could double within about 24 years of retirement.
Google releases three new AI models
New York Times: Its flagship Gemini 3.5 Pro remains delayed after a planned June release.
RN
KMD to divest SE Asia facility and phase down operations
The owner of Kathmandu, Rip Curl and Oboz says the divestment is expected to unlock working capital of about $6 million.
Staff called to HR meeting at news website Stuff
Members of Stuff Digital's live news and commissioning teams have been called into meetings regarding proposed changes.
Floor set for milk prices
Prices appear to have stabilised at the Global Dairy Trade auction, stopping the previous slide.
Older people facing impossible choices as cost of living continues to bite
Annual inflation has risen to 4.1 percent, the highest level in more than two years. Audio
First round of Northland power pylon collapse case to begin in court
An investigation found the pylon toppled over in June 2024 when contractors unbolted three of the tower's four legs at once.
‘Another employer lost’: Marton malt mill set to shut
Aotearoa's main malt supplier announced it will close its Marton mill, leaving the district with one less employer and local growers, farmers and workers facing uncertain futures come September.
Community newspaper The Akaroa Mail celebrates 150 years
The paper has covered everything from a WW2 plane in a basement to a list of hotel visitors.
'A very high-risk way to spend $1 billion': Experts on NZ First's oil and gas policy
The party announced it would invest in a 'National Subsurface Development Survey' at its campaign launch over the weekend.
Landlord’s companies go into interim receivership after property dispute
Matthew Ryan's companies have been put into receivership after a property dispute with his former partner.
Five takeaways from today's 4.1 percent inflation figure
Analysis: Inflation has hit a two-year high confirming that when oil prices surge globally it hits New Zealand hard, writes Corin Dann.
1N
'Farewell': Foodstuffs confirms end date for old Clubcard programme
The move will close a chapter at New World, Pak'nSave and Four Square stores.
SkyCity reaches conditional deal to sell hotel to overseas buyer
The financial terms of the deal remained confidential at this stage.
New threat by Yemen's Houthis could widen Iran war
The threat to close vital shipping chokepoint Bab el-Mandeb Strait could discourage ships from using the route, further disrupting global oil supplies and international trade.
'Another employer lost': Marton malt mill set to shut
Rangitīkei mayor Andy Watson says Marton Maltings' impending closure would leave families without the stable employment the industry had once offered.
Bunnings removes pet treat from sale after dog needed emergency surgery
Kat Thomas wanted the product removed from sale, although the retailer said the natural bone products can splinter and come with safety warnings.
'Deeply grateful': Rhythm and Vines announces final Gisborne festival
The festival said it will be relocating to a new, undisclosed location in 2027.
Analysis: Five takeaways from today's 4.1% inflation figure
Inflation has hit a two-year high, confirming that when oil prices surge globally, it hits New Zealand hard.
Inflation hits 4.1%, highest in over two years
The rise is driven by the spike in fuel prices caused by the conflict in the Middle East.
Trump imposes 50% tariffs on Canadian goods
The White House said in a fact sheet that the tariffs would go into effect in 30 days and cover "products ranging from wine to hockey sticks to cement".
EU hits AliExpress with a record fine over unsafe and counterfeit goods
The online retailer was slapped with a €550 million fine for failing to adequately crack down on the sale of unsafe and counterfeit products on its site.
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Employer ordered to pay worker thousands after withholding holiday pay
The Authority ruled Sharp Service Limited breached the Holidays Act after failing to pay Ilfaaz Hussain his outstanding holiday pay when he resigned.
Private mission launches to extend life of out-of-gas communication satellites
CAPE CANAVERAL, Fla. (AP) — A two-armed space robot blasted off on a private salvage operation Tuesday to slap life-extending jetpacks on old satellites running low on fuel thousands of miles up.
Gourmet burger chain facing $5.3m debt seeks buyer
A new owner is being sought to rescue Burger Burger, which owes millions of dollars after running out of cash to fund its operations.
French lawmakers race to introduce an under-15 social media ban before the new school year
PARIS (AP) — French lawmakers reached a compromise Monday that could allow a bill banning social media for children under 15 to enter into force at the start of the new school year in September.
Genuine hands-off income in highly connected suburb
An Mt Albert commercial property investment opportunity that is a scarcity in today’s market is expected to resonate with investors seeking resilient hands-off income.
Cracking covenant anchors new Drury industrial facility
A brand-new industrial property underpinned by a long lease to New Zealand’s largest egg producer has come to the market.
Prominent corner location for Northcote office building
A refurbished stand-alone office building sitting on a prominent corner location in Northcote on Auckland’s North Shore is for sale.
Significant development opportunity in Mt Albert
A sizeable landholding in the Auckland city fringe suburb of Mount Albert is for sale giving the opportunity to secure a site of scale that has potential for a major development.
Development-ready landholding in Takapuna
A highly visible motel in Takapuna on Auckland’s North Shore is for sale and is well positioned for a future development.
Flexible options with Mt Wellington units
A versatile industrial property in Mount Wellington is being presented to the market for sale or lease, offering flexibility for investors, owner-occupiers, and businesses.
TP
Competitor warns review of rules regulating Fonterra needs ‘critical lens’
Open Dairy takes about 12% of the country’s milk pool, the second largest after Fonterra, which takes just under 78%. Open Dairy warns any loosening of competition rules than bind Fonterra would be a negative for other market players.
Man’s account closed after son used it to receive proceeds from scams
$500 compensation from bank for man whose account was used by his son to launder proceeds of scams.
Houthis enforce Red Sea blockade, putting Saudi oil at risk for the first time
With both sides of the Arabian Peninsula now part of the theatre of war, the US war on Iran looks set to enter a whole new phase.
Nicola Willis looking ‘in detail’ at supermarket split, with advice expected back before election
The prospect of NZ’s major parties including a supermarket break-up in their election policies appears to have risen from the ashes.
Business leaders push for mandatory pay gap reporting, insist it’s a ‘non-political’ issue
The Coalition Government’s record in power includes axing a former, Labour proposal for mandatory pay gap reporting, icing pay equity claims, and suggesting the disestablishment of the Ministry for Women. But Global Women takes heart from recent comments by Christopher Luxon.
The Global Read: Judge says Paramount, Warner must halt merger for now
Twelve states, led by California, have managed to temporarily block Paramount’s pending buyout of Warner - saying the deal would “extinguish competition” in Hollywood and lead to fewer choices for consumers, particularly moviegoers and cable customers across the US.
Partial strikes – when doing part of the job means getting part of the pay
OPINION: Last week 1300 public servants walked off the job at the Department of Internal Affairs for two hours in protest over pay and proposed changes to working conditions.
NZ students fly to Paris with AI perfume idea that made L’Oréal take notice
Third-year University of Auckland students Mihir Ojas Rallapudi, Nathaniel Brown and Maadhav Arora were recognised and flew to Paris for their innovation linking memory to smell and perfumes.
NZ could be at the cusp of faster, friction-free payments, if we ditch the rulebook
OPINION: It’s the easiest productivity win this country hasn’t yet made - ensuring the speed of our money is the same as the rest of much of the world.
‘I'd rather fewer billionaires and more businesses built to distribute opportunity’
Will & Able chief executive Kate O’Leary loves the idea of New Zealand’s billionaires ploughing their money into a social franchise model that enables and empowers people with disabilities to be business owners and entrepreneurs.
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‘Everything we’ve built’: Canterbury businessman says scammers have destroyed his reputation
A genuine Methven cleaning business has been devastated after a fake online profiled mimicked its online platform and scammed customers.
Christchurch chef brings Cambodian food traditions to the table
Rumduol Seng, better known as Rom, is using family recipes, traditional techniques and her own journey to share Cambodian food traditions with Cantabrians.
Restructure of Timaru CCO confirmed, three roles cut
Venture Timaru has confirmed three of its seven roles will be cut following a restructure of the organisation.
‘Kiwi Ozempic’ finds favour in clinical trial, but caution advised
A six month, 150-person trial found weight loss higher in Calocurb takers over placebo takers, but what happens when people go off the supplement?
Datagrid faces coalition of unconvinced about data centre’s impact and benefits
The company puts its case in advance of a public meeting.
Inflation jumps to 4.1%, highest level in two and a half years
The inflation rate would have squeaked in just under 3% had it not been for the spike in petrol and diesel prices.
Scale of developer’s Pegasus plan revealed as 1000 homes, increasing town size by a third
Pegasus residents say a proposed 1000-home development would push the township beyond its planned capacity, raising concerns about roads, infrastructure and the community's future.
Southern Ballet closes after 50 years, artistic director and chair open new academy on its premises
One of Christchurch’s longest-running dance schools has closed after 50 years - and two of its former leaders have opened a new academy from the same premises.
Priority Christchurch projects left out in the cold were not ‘Budget bids’, Minister says
Christchurch councillors and ministers are at odds over whether the city’s list of priorities amounted to a bid for Budget funding or simply issues for the South Island Minister to champion.
What Canterbury risks if it gets the port decision wrong
Canterbury’s economy is entering a critical period just as Christchurch faces one of its biggest investment decisions since the earthquake rebuild.
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Scrapping iwi-council agreements ‘another blow’ for Māori
Iwi have been left ‘dispirited and demoralised’ but Federated Farmers says it’s ‘really pleased the Government has listened’.
From farmland to forest: Waitomo couple restore native habitat
A Waitomo couple are on a mission to restore their slice of land to native bush and create a wildlife sanctuary.
How a short video helps sort farmers’ paddocks
Waikato business, Aimer Farming, has taken off in the past year and is bringing its AI pasture management to the UK.
New playground signals next chapter in Hamilton’s CBD
As central Hamilton changes, new developments, proximity to amenities and more houses are bringing more people into the CBD.
Toy safety shake-up ‘tone deaf’, Hamilton mum says
Hamilton parent Jessica Jordan fears proposed toy safety changes could expose children to more dangerous chemicals and poorly made imported products.
Bus driver wins first round in fight over suspension, transfer
After a passenger complaint he was suspended, got a formal warning and told he’d have to work from the Cambridge depot.
New road linking SH3 and Peacocke bridge almost ready to open
A new route linking the state highway and the bridge is about to open.
Charity behind cancelled Matamata Mustang draw proves elusive
Visits to addresses linked to NZ Rescue, its companies and trustees failed to find any answers as an Internal Affairs investigation continues.
Competitor warns review of rules regulating Fonterra needs ‘critical lens’
Open Dairy takes about 12% of the country’s milk pool, the second largest after Fonterra, which takes just under 78%. Open Dairy warns any loosening of competition rules than bind Fonterra would be a negative for other market players.
Man’s account closed after son used it to receive proceeds from scams
$500 compensation from bank for man whose account was used by his son to launder proceeds of scams.
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Inflation is a crocodile in a dark room. Should RBNZ jump on it?
Should the Reserve Bank hold fire to give the bruised economy a better chance at recovery, or take a shot to stop inflation getting a headstart?
NZ Inc is going all in on AI data centres
The government wants $25-35 billion in data centre investment, and it just gathered 100 of the country’s most powerful business leaders to make the case.
Who gets to decide what happens to assets held on behalf of all Māori?
Charles Royal has dedicated the best part of three decades advancing Māori interests in spectrum.
WTF is happening with Heart of the City?
Viv Beck is back. Pretty much the entire board is gone. What is going on?
NZ still seems to think house prices will rise. Good luck with that
New Zealand has largely fixed its original sin, which caused home-buying mania.
Barbers aren’t about to be replaced by AI. So is this 2026’s cleverest career choice?
Thinking of a career change? Well, hair never stops growing, and robots can’t do fades – yet.
New Zealand just posted its best economic results in three years. But there’s a catch
Our economy was healing. Then the Iran war began.
The mysterious online store selling (and maybe stealing) Māori designs
At first glance, Polynesian Pride appears to be proudly Polynesian. Māori designers suspect otherwise.
Three big unanswered questions about what the Iran peace deal means for New Zealand
New Zealanders responded to the prospect of Peace In Our Times with a resounding chorus of: ‘So when will petrol be cheaper?’
Farming stopped being New Zealand’s economic backbone decades ago
Our reality is closer to Christopher Luxon’s infamous description of a ‘wet, whiny, inward-looking country’.