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Invest In NZ News

  • Courier company loses Canadian family's $946k inheritance, offers $36 refund

    A Canadian couple is locked in a battle with UPS after the courier company lost a package containing a $CA846,00 (NZ$$946,300) bank draft — and offered them a $CA32 (NZ$36) refund for the "inconvenience".

    Lorette Taylor told CBC News she and her husband John were at their wits' end trying to recover the money, intended for her brother, after more than 10 months.

  • T&G Global boss Alastair Hulbert resigns effective today

    T&G Global chief executive Alastair Hulbert has resigned, effective today, after four years in charge of the fruit marketer.

    The Auckland-based company has called in long-term BayWa collaborator Thomas Bargetzi to act as interim CEO while it looks for a new boss, T&G said in a statement. Chair Klaus Lutz acknowledged Hulbert's "significant contribution" to the wider group during his tenure.

  • Rob Campbell, the anarchist who conquered the corporate world

    Rob Campbell, the new chairman of SkyCity, rose to public prominence in the 1970s and 80s as a union leader.

    It's a well-known story, reflecting New Zealand's political transformation during the era.

    But it's still a surprise to hear the senior business leader, who also chairs Tourism Holdings and retirement village operator Summerset, say he'd like to see more business leaders coming through from a union background.

  • Why Rocket Lab's launch was aborted seconds before lift-off

    Rocket Lab says its launch yesterday was aborted due to rising liquid oxygen (LOx) temperatures feeding into one of the Electron's nine engines.

    The launch attempt was aborted two seconds before lift-off from its range on Mahia Peninsula between Gisborne and Napier.

    It says it will attempt to launch again tomorrow - after 2.30pm - and that the 17m rocket or pad equipment wasn't damaged.

  • Jailed Crafar farms bidder defaults on mortgage

    A man jailed for his part in fraudulently trying to buy the Crafar farms has defaulted on a mortgage of a south Auckland property he owns and risks losing it.

    In a High Court order published earlier this month, Ke En Chen, also known as Jack Chen, was told that he had until January 12 to pay $9800 he owes on a house on Magnolia Place in Flat Bush.

  • Justin Trudeau snubs Boeing, unveils plan to buy used Australian jets

    The Trudeau government is escalating a trade fight with Boeing, ditching plans to buy 18 Super Hornets while launching a search for new fighter jets under parameters that could hamper future bids from the US planemaker.

  • Bitcoin billionaires tip cryptocurrency's value to soar by another 20 times

    The twin brothers dubbed the world's first "bitcoin billionaires" have predicted the controversial digital currency could increase in value by another 20 times from today's levels.

    Speaking to Fox Business following the launch of the first bitcoin futures product on the Chicago Board Options Exchange (CBOE) on Sunday night, Cameron and Tyler Winklevoss challenged the naysayers to "put their money where their mouth is".

  • Future cities will adapt like living organisms: Alibaba tech expert

    Wang Jian was once called crazy by Jack Ma Yun, the founder and executive chairman of Alibaba Group Holding, for suggesting that the company can have its own mobile operating system.

  • Progress accelerating on 100 Day Plan

    This week marks the half way stage of the Government’s 100 Day Plan and will see further pleasing progress on delivering on our commitments, says Prime Minister Jacinda Ardern.

     “We promised we would be a different government, one that makes dealing with child poverty and reducing inequality a priority. We are delivering on that promise.

  • Uber heads to court to fight London ban

    Uber will head to court tomorrow to fight its London ban, kicking off the first of two crucial legal battles over the next fortnight.

    The US ride-hailing app is appealing Transport for London (TfL)'s controversial decision to strip the company of its private hire licence in September, a move that effectively banned Uber from the UK capital, the Daily Telegraph reported.

  • Auckland realtor Preet Grewal gives up licence

    The Real Estate Agents Authority is investigating apparent "abnormalities" in the trust account of a big Auckland real estate business which trades as Harcourts.

    Kevin Lampen-Smith, authority chief executive, said today his organisation was working with Preet & Co and Harcourts as a result of its investigations.

  • Inland Revenue audits 16 multinational firms over tax

    The Inland Revenue Department is auditing 16 multinational firms over their use of transfer pricing to trim their annual collective tax bill by about $100 million.

    Revenue Minister Stuart Nash last week introduced legislation targeting the shifting of profits from one jurisdiction to another, and the bill should get its first reading in Parliament tomorrow.

  • Bitcoin frenzy has 'no brakes', surpasses US$14,000 mark

    Bitcoin is smashing through milestones at an ever-increasing pace.

    Less than a day after cracking US$12,000 (17,499), the cryptocurrency surged another 17 per cent to pass first through US$13,000 ($18,957) and then US$14,000 ($20,415) on Wednesday US time, according to research site CoinDesk.

  • Multinationals tax legislation introduced

    Legislation just introduced to Parliament will prevent multinationals from avoiding tax by shifting profits out of New Zealand, Revenue Minister Stuart Nash said today. The legislation also reflects an important objective of the Labour New Zealand First Coalition Agreement.

  • Financial advice Bill puts Kiwis needs first

    Financial advice Bill puts Kiwis needs first

    Commerce and Consumer Affairs Minister Kris Faafoi says the first reading of the Financial Services Legislation Amendment Bill in Parliament today is the first step in a significant package of changes to ensure all Kiwis can get good quality financial advice based on their individual needs. 

  • Mad Butcher owner tips profit to tumble by up to 17 per cent

    Veritas Investments expects annual profit to fall as much as 17 per cent in the 2018 financial year, issuing the earnings downgrade in a notice to the stock exchange following today's annual meeting.

    The food and beverage investor, which has brands including The Mad Butcher, is operating under the close watch of lender ANZ Bank New Zealand, which wants Veritas to sell assets to repay debts.

  • Cooking the Books podcast: When is that golden investment a scam?

    Each week the New Zealand Herald and Newstalk ZB's Cooking The Books podcast tackles a different money problem. Today, it's how to protect yourself from the scammers. Hosted by Frances Cook.

    When you're trying to make a buck, the lure of finding the golden ticket is hard to resist.

    The old saying "if it's too good to be true, it probably is", gets bandied around a lot, and yet people still fall for scams over and over again.

  • Govt pushing for fair deal for consumers

    The Government is acting on key consumer concerns, with Minister Megan Woods asking the Ministry of Business, Innovation and Employment (MBIE) to further investigate fuel prices and Minister Faafoi moving to progress broad market studies powers for the Commerce Commission.

    The decision by Minister of Energy and Resources Megan Woods follows an update by MBIE the on the Fuel Market Financial Performance Study released earlier in the year.

  • Step up for New Zealand women

    New Zealand businesses are missing out on hundreds of millions of dollars each year because women are not being fairly represented around the business table, says Minister for Women Julie Anne Genter.

    The Diversity Dividend Report released today shows that getting more women into leadership roles could boost the economy by $881 million each year. The top barrier cited was the perception of lack of availability of female talent to achieve gender balance in leadership.

  • 80,000 people eligible for fees free

    The Government has today made good on its 100-day promise of delivering the first year of fees-free post school training and education and industry training from 1 January next year, says Education Minister Chris Hipkins.

    “This Government has taken the first major steps to break down financial barriers to post-school training and education. Next year, around 80,000 people will be eligible for fees free post-school training and education.

  • ‘Pulse of the Nation’ report exposes digital divide

    Communications Minister Clare Curran has released a report outlining the digital divide in New Zealand – a report the previous government sat on for several months. 

    “In line with our commitment to open government, I’m releasing the report ‘Digital New Zealanders: The Pulse of our Nation’ which the previous government didn’t make public until after the election as it exposed the digital divide in New Zealand,” Ms Curran says.

  • Girl power leads the way in gaming industry

    Girl power is on the loose at Dunedin-based global games developer and publisher Runaway.

    In an industry dominated by males, two female executives are now leading the business — and they hope to inspire more women.

    Managing director Zoe Hobson has been joined by creative director Emma Johansson, who has filled the role left by outgoing creative director and Runaway founder Tim Nixon.

  • Failed finance company director Anthony Banbrook struck off as a lawyer

    Failed finance company director Anthony David Banbrook has been struck off as a lawyer for performing legal work while suspended.

    The former National Finance director was convicted of making an untrue statement in a prospectus and was sentenced to eight and a half months' home detention and ordered to pay $75,000 in reparations by the High Court in 2013.

  • Microbeads Banned

    Minister for the Environment David Parker and Associate Minister for the Environment Eugenie Sage, have today welcomed Cabinet approval of the regulations banning microbeads.

    “Plastic microbeads are found in personal care products such as facial cleansers, bath scrubs and toothpaste,” says Mr Parker.

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