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# updated_at  = 2022-07-03T21:17:58Z
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2022-06-09T21:15:00Z	**QuiznessDesk, Friday, June 10, 2022**
02. Which sportswoman became New Zealand’s youngest-ever dame in the 2022 New Year Honours list?
03. What happened in the Ambassador Hotel, Los Angeles, in June 1968?
04. The Coptic Orthodox Church is based in what country?
05. Which Kenny Rogers hit song begins with the line: “On a warm summer’s evening, on a train bound for nowhere”?
06. In golf, what is the R&A?
07. In which New Zealand city would you find a shopping centre called The Base?
08. You’ve G ... ⌘ [Read more](https://businessdesk.co.nz/article/the-quiz/quiznessdesk-friday-june-10-2022)
2022-06-09T21:20:43Z	**Air NZ cuts expected loss as travel ramps up**
Air New Zealand says improving trends in travel bookings have shaved more than $50 million off the expected loss for the year to June 30.

Instead of an expected loss of more than $800m, advised on March 30, the airline now expects “a loss before other significant items and taxation of less than $750m”, it said in a statement to the NZX this morning. ⌘ [Read more](https://businessdesk.co.nz/article/transport/air-nz-cuts-expected-loss-as-travel-ramps-up)
2022-06-10T00:00:00Z	**Immigration – getting past knee-jerk reactions**
A year ago, the government teased us with two big policy “trailers”: the first was for a Productivity Commission inquiry into immigration settings.

The second sounded like a real blockbuster: the government said it would seize the once-in-a-generation opportunity of closed borders to “reset” immigration onto a different path. ⌘ [Read more](https://businessdesk.co.nz/article/immigration/immigration-getting-past-knee-jerk-reactions)
2022-06-10T01:15:05Z	**AMP Capital mulls major Christchurch sale**
Dozens of properties adjacent to a Christchurch mall have been quietly taken off the market after being listed for sale.

Australian-based AMP Capital [sold The Palms](https://businessdesk.co.nz/article/property/adelaides-di-mauro-pays-888m-for-the-palms), a shopping centre in Shirley, for $88.8 million last year to fellow Australian investor, DiMauro Group. ⌘ [Read more](https://businessdesk.co.nz/article/property/amp-capital-mulls-major-christchurch-sale)
2022-06-10T05:48:46Z	**NZ shares slip as US inflation data looms**
New Zealand's sharemarket declined on Friday as the local trading week came to a close before the release of US inflation data, which is due to come out later on Friday night.

The S&P/NZX 50 Index fell 75 points, or 0.7%, to 11,136.28. Turnover was light at just $92.3 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/nz-shares-slip-as-us-inflation-data-looms)
2022-06-10T17:00:00Z	**On the Money: Air NZ, John Dakin, Nanaia Mahuta, and more**
**Flying grocers**

**Kiri Hannafin** was the voice of **Countdown** all through the covid pandemic, but the **Woolworths**-owned supermarket chain will need to find another frontperson for the next phase of the highly charged battle over grocery competition. ⌘ [Read more](https://businessdesk.co.nz/article/on-the-money/on-the-money-air-nz-john-dakin-nanaia-mahuta-and-more)
2022-06-10T18:00:27Z	**Money Answers: Is it a bad time to buy a house?**
**BusinessDesk's investment editor, Frances Cook, responds to readers' emails weekly to answer questions about money. Below you'll find her expert advice.**

**Hi Frances,** ⌘ [Read more](https://businessdesk.co.nz/article/finance/money-answers-is-it-a-bad-time-to-buy-a-house)
2022-06-10T18:00:00Z	**In the company of a better Blues**
It’s hard to see how the Better Blues Co could have timed its run on the Super rugby franchise any better.

The Auckland-based rugby franchise is heading into the semi-finals with a record 14-match unbeaten run and are the clear favourites to beat the Brumbies, with the TAB paying $1.20 on the Blues and $4.20 on the Canberra team. ⌘ [Read more](https://businessdesk.co.nz/article/sport/in-the-company-of-a-better-blues)
2022-06-11T17:00:00Z	**Review: Kia EV6 – a worthy challenger for Tesla’s crown**
Who would have thought, even a year back, that I’d prefer a Kia to a Tesla?

Kia does not exactly have a reputation for luxury vehicles, although the fastback Stinger is a fan favourite. ⌘ [Read more](https://businessdesk.co.nz/article/the-life/review-kia-ev6-a-worthy-challenger-for-teslas-crown)
2022-06-11T17:00:00Z	**My Net Worth: Mark Callander, chief executive, 2degrees**
Mark Callander is one of New Zealand’s most prominent telecommunications executives. A serial deal maker, he has orchestrated a string of transformational mergers and acquisitions in the sector. During his career, he has developed challenger brands including Slingshot and Orcon and integrated businesses including Vocus NZ, Woosh, Stuff Fibre, and Switch Utilities. Following Vocus NZ’s takeover of 2degrees, he leads a ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/my-net-worth-mark-callander-chief-executive-2degrees)
2022-06-11T17:00:00Z	**Out of order – how to stop workplace tension turning nasty**
I once worked for a large Wellington organisation where two male members of the communications team came to blows in the office. Actual physical, knock-someone’s-teeth-out blows.

I can’t recall what triggered the angry meltdown, or who said what, but I do recall the words “suspended” and “anger management courses” featured significantly in both their futures. ⌘ [Read more](https://businessdesk.co.nz/article/the-life/out-of-order-how-to-stop-workplace-tension-turning-nasty)
2022-06-11T17:00:00Z	**Restaurant review: Milenta, Auckland – so good it deserves to be packed**
For readers with incense-laced memories of scanning racks of tie-dyed dresses, silver jewellery and suncatchers at Auckland’s Victoria Park Market, the addition of smart South American restaurant Milenta will bring a smile. Elegantly understated, small and unassuming, there is nothing themey or forced about this place, but like the 1980s stalls that came before, it has a strong identity ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/restaurant-review-milenta-auckland-so-good-it-deserves-to-be-packed)
2022-06-11T17:00:00Z	**In the mix – the top 10 blended red wines**
I joined Nobilo’s as company secretary in the mid-1970s. It was a dream job for a young wine enthusiast. Based in Huapai, northwest Auckland, it was a progressive mid-sized family winery transitioning from fortified-wine production to cutting-edge varietal wines such as müller-thurgau, chardonnay, gewürztraminer, pinotage and cabernet sauvignon.

General manager/chief winemaker Nick Nobilo was keen for me to understand every aspect of wine pro ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/in-the-mix-the-top-10-blended-red-wines)
2022-06-11T17:00:00Z	**Change of scene ­­–  a look at John Barnett’s new online art buying platform**
Over the past two weeks, a series of social media posts elegantly piquing the interest of art aficionados in New Zealand have appeared on Instagram and Facebook, all in anticipation of the launch this weekend of a new online art platform, Artfull. It’s been created with a mission to engage and promote contemporary art and artists from New Zealand and get more people into collect ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/change-of-scene-a-look-at-john-barnetts-new-online-art-buying-platform)
2022-06-12T17:00:34Z	**Kiwi crypto-miners sell machines ahead of ethereum 2.0 merge**
The world’s number two cryptocurrency, ethereum, took a significant step towards addressing the environmental impact of digital assets last week.

Ethereum is preparing to transition from an energy intensive proof-of-work network to a much more efficient proof-of-stake network. ⌘ [Read more](https://businessdesk.co.nz/article/markets/kiwi-crypto-miners-sell-machines-ahead-of-ethereum-20-merge)
2022-06-12T17:00:00Z	**Fingers, dykes and Fonterra’s $50m share buyback**
Fonterra’s plan to spend up to $50 million on a buyback aimed at lifting the share price strikes me as akin to the little boy putting his finger in the dyke in the Netherlands.

Or is it throwing good money after bad? ⌘ [Read more](https://businessdesk.co.nz/article/opinion/fingers-dykes-and-fonterras-50m-share-buyback)
2022-06-12T17:00:00Z	**Cooking the Books: bust the investing myths that hold you back**
**Each week BusinessDesk and the NZ Herald's Cooking the Books podcast tackles a different money problem. Today, it's getting rid of the money mindset that can hold you back. Hosted by Frances Cook.**

A big part of the investing game is mental. ⌘ [Read more](https://businessdesk.co.nz/article/podcasts/cooking-the-books-bust-the-investing-myths-that-hold-you-back)
2022-06-12T18:00:00Z	**Class actions – the next frontier**
Whether it's covid or keto, one good thing about little old New Zealand is that we are often slow to catch onto global developments.

This means we get to watch the world do stuff, and hopefully(!) learn from it. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/class-actions-the-next-frontier)
2022-06-12T19:00:07Z	**Better dressed, with less stress**
Businesses are born out of all sorts of quirky ideas but for brothers Sam and Noah Hickey – the founders of men's clothing subscription service Asuwere – it all started with something quite simple: a linen shirt.

Asuwere’s creative director and designer Sam Hickey says he’s always been passionate about good, classic tailoring. And when he moved back to New Zealand from London in 2018, the struggle to find a decent linen shirt that suited his style was the insp ... ⌘ [Read more](https://businessdesk.co.nz/article/profile/better-dressed-with-less-stress)
2022-06-12T19:00:35Z	**Mind the gap: alternative property lenders move on NZ**
Australian alternative lenders are stepping into the New Zealand property finance market, filling a void left by constricted bank lending into the sector.

The unwillingness of traditional borrowing avenues to lend comes on the back of regulations instructing banks to hold more capital and as building inflation puts further pressure on the feasibility of projects. ⌘ [Read more](https://businessdesk.co.nz/article/property/mind-the-gap-alternative-property-lenders-move-on-nz)
2022-06-12T21:00:21Z	**Countdown invests $350m into 'big fridges'**
Countdown is investing $99 million in a new 11,000-square-metre chilled distribution centre outside Christchurch, bringing its national warehousing and chilled storage footprint to 21 hectares.

The facility, which will be a sale and leaseback with Mackersy Property on a 30ha site in Rolleston, is being built by contractor Watts and Hughes and will come on stream by 2024. ⌘ [Read more](https://businessdesk.co.nz/article/property/countdown-invests-350m-into-big-fridges)
2022-06-12T21:15:00Z	**QuiznessDesk, Monday, June 13, 2022**
02. Anthony Albanese is the 31st Australian prime minister. Who was the 28th?
03. Auckland professional team the Tuatara play what sport?
04. Complete the following line from Apocalypse Now: “I love the smell of napalm in the morning. It smells like …”
05. Which actor said the above line: Harrison Ford, Martin Sheen or Robert Duvall?
06. Measured by market capitalisation, which is the biggest car company: Tesla, Toyota or Ford?
07. What classic hit song in ... ⌘ [Read more](https://businessdesk.co.nz/article/the-quiz/quiznessdesk-monday-june-13-2022)
2022-06-12T21:40:25Z	**Tourism Holdings announces chair's sudden exit**
Tourism Holdings has announced its board chair and director Rob Campbell has resigned effective immediately.

The campervan rental business told the NZX this morning that Campbell – who spent nine years as the company's chair and as a director – had resigned from the board “in order to focus on other work commitments”. ⌘ [Read more](https://businessdesk.co.nz/article/news-in-brief/tourism-holdings-announces-chairs-sudden-exit)
2022-06-12T22:20:12Z	**Ardern to reshuffle cabinet today**
The prime minister, Jacinda Ardern, will announce what her office is describing as a “minor” reshuffle of cabinet portfolios this afternoon.

The changes will be made public at her weekly post-cabinet press conference at 3pm. ⌘ [Read more](https://businessdesk.co.nz/article/politics/ardern-to-reshuffle-cabinet-today)
2022-06-12T23:07:19Z	**NZ RegCo appoints five new members to markets disciplinary tribunal**
The stock exchange’s regulatory arm, NZ RegCo, said it has appointed five new members to its markets disciplinary tribunal who have “extensive frontline markets experience”.

The five are Jenn Page, Air New Zealand’s general counsel and company secretary, Charles Bolt, a director of NZ Automotive Investments and head of governance services at Computershare NZ, Darren Manning, Forsyth Barr ex ... ⌘ [Read more](https://businessdesk.co.nz/article/finance/nz-regco-appoints-five-new-members-to-markets-disciplinary-tribunal)
2022-06-13T00:00:00Z	**Showdown at ILO a fizzer?**
Head of Business New Zealand Kirk Hope says he's “pleased with the outcome” despite failing to secure the International Labour Organisation’s (ILO) condemnation of the government’s fair pay agreements (FPA) bill.

Hope says the conclusion recognised the government has an opportunity to ensure the bill complies with international law, but workplace relations minister Michael Woods says the ILO has already decided that it does comply, “setting the record straight once and for a ... ⌘ [Read more](https://businessdesk.co.nz/article/policy/showdown-at-ilo-a-fizzer)
2022-06-13T00:00:00Z	**Watchdog presses pause on Placemakers purchase**
The Commerce Commission has taken a dim view of Fletcher Distribution's proposed purchase of six Independent Timber Merchants (ITM) in the Wairarapa and Hawke's Bay.

Fletcher Distribution, the owner of building supplies merchant Placemakers, is seeking [clearance to acquire six ITM stores](https://businessdesk.co.nz/article/property/place-making-fletchers-adds-an-itm-six-pack) as well as a Hastings frame and truss plant from  ... ⌘ [Read more](https://businessdesk.co.nz/article/news-in-brief/watchdog-presses-pause-on-placemakers-purchase)
2022-06-13T01:45:00Z	**Mowbray's Rascals sues company founder and Treasures**
Entrepreneur Nick Mowbray’s nappy brand Rascals and Friends has taken legal action against the company’s founder, Grant Taylor, and a rival firm that now owns the Treasures brand.

The high court at Auckland today heard how Rascals wants losses or foregone profits from Taylor and his father, Keith Taylor. ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/mowbrays-rascals-sues-company-founder-and-treasures)
2022-06-13T02:30:00Z	**Pressure mounts for end to covid pre-departure tests**
Pressure is mounting on the government to drop covid pre-departure testing for travellers to New Zealand following the US move over the weekend to end its pre-departure testing regime.

Airports, airlines and the NZ tourism industry have been calling for weeks for the tests to be dropped as NZ becomes an increasingly isolated outlier among developed economies still requiring that anyone planning to enter the country  ... ⌘ [Read more](https://businessdesk.co.nz/article/coronavirus/pressure-mounts-for-end-to-covid-pre-departure-tests)
2022-06-13T04:54:08Z	**A cute 'minor' reshuffle: more to come**
No one likes firing anyone, and Jacinda Ardern enjoys it no more than any other humane and normal boss.

So, she wrapped up the substantial demotion of **Poto Williams**, who loses not only the police portfolio but also building and construction, in an elaborate tale involving the planned departure of immigration minister **Kris Faafoi**. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/a-cute-minor-reshuffle-more-to-come)
2022-06-13T05:46:52Z	**US inflation data sends share markets into a 'tailspin'**
New Zealand’s benchmark equity index dropped sharply as hot inflation data sent investors rushing to sell shares ahead of further interest rate hikes.

The S&P/NZX 50 Index fell 211 points, or 1.9%, to 10,924.74. Turnover was light at $132 million, with Australia celebrating Queen’s Birthday Weekend today. ⌘ [Read more](https://businessdesk.co.nz/article/markets/us-inflation-data-sends-share-markets-into-a-tailspin)
2022-06-13T17:00:48Z	**Climate change: time to stop promising the Earth**
Over the past three decades, United Nations climate change conferences have had their peaks and troughs.

The 2015 Paris COP was certainly a peak. It has charted a new, universal climate change regime and established a new temperature goal. But the long-term trend of these conferences is that they are of declining marginal utility. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/climate-change-time-to-stop-promising-the-earth)
2022-06-13T17:00:00Z	**Remitters losing against RBNZ was inevitable, says expert**
An anti-money laundering expert says a recent case where money remitters lost against the Reserve Bank of New Zealand (RBNZ) was “probably inevitable” and a “bad outcome for the small business and money transfer sector”.

Justice David Gendall threw out a judicial review of the RBNZ in a decision dated June 8. ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/remitters-losing-against-rbnz-was-inevitable-says-expert)
2022-06-13T18:00:00Z	**CentrePort and Picton tap into wine business**
Wellington’s CentrePort and Port Marlborough will invest $14 million to develop a cargo hub and freight link at Blenheim, hoping to tap into a greater share of the region’s $2 billion of wine exports.

The seven-hectare hub is part of a wider 32-hectare vineyard site at Riverlands, outside Blenheim, about 34 kilometres south of Picton. The land was bought in December 2021 as the first joint effort between the two ports. ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/centreport-and-picton-tap-into-wine-business)
2022-06-13T18:00:00Z	**Carbon auction should result in a stable carbon price ... maybe**
The second carbon auction of the year on Wednesday is expected to be ‘steady as she goes’ for carbon prices.

Nigel Brunel, head of commodities at Jarden, believed participants would look to snap up the 1.3 million New Zealand Units (a proxy for a tonne of carbon) left in the annual cost containment reserve after 5.69m of the 7m available were snapped up at the first auction of the year. ⌘ [Read more](https://businessdesk.co.nz/article/markets/carbon-auction-should-result-in-a-stable-carbon-price-maybe)
2022-06-13T19:00:59Z	**AI is already causing harm and we need legislation**
In a now 21-year-old episode of Futurama’s I Dated a Robot, protagonist Philip J. Fry enters the metaverse and buys a copy of Lucy Liu’s image and a warped version of her personality, which he uploads to a robot in the physical world to be his girlfriend.

It only gets worse when you find out that the information is being forcibly removed from a kidnapped Lucy Liu. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/ai-is-already-causing-harm-and-we-need-legislation)
2022-06-13T21:15:00Z	**QuiznessDesk, Tuesday, June 14, 2022**
03. Which electorate MP won the biggest majority in the 2020 general election: Grant Robertson, Chris Hipkins or Jacinda Ardern?
04. What type of state institution is located in the Sydney suburb of Villawood?
05. In Warner Brothers cartoons, what was the name of a black duck that spoke with an exaggerated lisp?
06. In articles about cars, what do the letters ICE stand for?
07. What classic British TV comedy series used John Philip Sousa’s Liberty Bell M ... ⌘ [Read more](https://businessdesk.co.nz/article/the-quiz/quiznessdesk-tuesday-june-14-2022)
2022-06-13T22:20:45Z	**Bear Tuesday: NZ shares fall 2% at open**
New Zealand’s benchmark stock index dropped 2% when the market opened this morning, after already dropping 2% yesterday, as global markets tumbled on inflation fears.

The rout follows a tumultuous Monday on Wall Street as investors rapidly sold positions in assets across the board, as central banks begin to deflate the pandemic-era asset bubble. ⌘ [Read more](https://businessdesk.co.nz/article/markets/bear-tuesday-nz-shares-fall-2-at-open)
2022-06-13T22:35:26Z	**SkyCity starts to cash in on open borders**
Border openings and relaxing trans-Tasman pandemic restrictions have boosted trading for SkyCity Entertainment, which expects normalised earnings before interest, tax, depreciation and amorisation (Ebitda) to come in between $135 million and $140m for the year to June 2022.

In its latest market guidance, the casino operator said the performance was being driven by its NZ gaming businesses, while non-gaming, including hospitality and ... ⌘ [Read more](https://businessdesk.co.nz/article/listed-companies/skycity-starts-to-cash-in-on-open-borders)
2022-06-13T23:20:27Z	**Spark adds two to board, Berriman to retire**
Spark is adding two new non-executive directors to its board with Sheridan Broadbent from Manawa Energy (formerly Trustpower) and former Ryman Healthcare chief executive Gordon MacLeod joining the ranks.

This will plump the board to nine members until the telco’s annual general meeting in November, when 11-year board member Paul Berriman will retire. ⌘ [Read more](https://businessdesk.co.nz/article/technology/spark-adds-two-to-board-berriman-to-retire)
2022-06-13T23:45:43Z	**Food prices storming higher**
New Zealanders felt more pain at the checkout as food price inflation showed no sign of abating in May despite trumpeted efforts by supermarkets to slow down price increases.

A 10% annual lift in fruit and vegetable prices and a 7% jump in meat, poultry and fish prices, saw annual food price inflation hit 6.8% in May. That pace prompted ASB economist Mark Smith to speculate the Reserve Bank may have to raise interest rates even faster. ⌘ [Read more](https://businessdesk.co.nz/article/economy/food-prices-storming-higher)
2022-06-14T02:00:00Z	**More time to have your say on pig welfare**
The Ministry of Primary Industries has agreed to extend the consultation time on a controversial draft code of welfare for pigs for two weeks. The move came after discussions with NZPork.

Brent Kleiss, chief executive of NZPork, said: “The proposed changes are colossal and unprecedented, the material accompanying the draft code is substantial and there is a large amount of information for farmers and other industry stakeholders to rev ... ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/more-time-to-have-your-say-on-pig-welfare)
2022-06-14T03:30:00Z	**Fletcher's share price drops on Gib fallout**
Finance entrepreneur Sam Stubbs hopes his ‘please explain’ meeting this Friday with Fletcher Building will reinforce the impact of the plasterboard crisis on the sector.

Stubbs’ ethical KiwiSaver initiative Simplicity holds $35 million worth of stock or about 0.8% of the share capital in NZ’s biggest building company. ⌘ [Read more](https://businessdesk.co.nz/article/property/fletchers-share-price-drops-on-gib-fallout)
2022-06-14T05:33:23Z	**Bear market territory causes benchmark index to plummet almost 3%**
New Zealand’s benchmark equity index had its biggest single-day fall since February, when the market fell 3.3% in reaction to Russia invading Ukraine.

The S&P/NZX 50 Index fell 283 points, or 2.6%, to 10,641.36. Turnover was $193 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/bear-market-territory-causes-benchmark-index-to-plummet-almost-3)
2022-06-14T17:00:00Z	**There goes nothing**
Stock markets woke up on the wrong side of the bed this week, [officially in a bear](https://businessdesk.co.nz/article/markets/bear-tuesday-nz-shares-fall-2-at-open) market.

No surprise, really, after the relentless bashing by the inflation stick and prodding by rate-wielding central bankers, but hitting the defining bear benchmark triggered the media threshold for publishing images of slack-jawed men in suits staring worriedly at red lines on a screen. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/there-goes-nothing)
2022-06-14T17:00:00Z	**Household electricity prices rise more than 5%**
Average household electricity prices increased more than 5% in the last year, with the energy component rising the fastest and large variations between regions, analysis shows.

The Ministry of Business, Innovation and Employment’s (MBIE) latest data shows that the national average of what is classed as a typical ‘model’ household was paying 30.8 cents per kilowatt-hour (c/kWh) in May 2021. ⌘ [Read more](https://businessdesk.co.nz/article/energy/household-electricity-prices-rise-more-than-5)
2022-06-14T17:00:00Z	**Charities Act Changes – helpful or hurtful?**
Charities are an important part of our social fabric as a country, the glue that holds many things together.

The response to proposed [changes to the Charities Act](https://businessdesk.co.nz/article/charities/long-awaited-charities-act-changes-revealed) has been mixed. Comments I’ve heard range from, “that all seems like common sense,” to “the proposed charity reforms are an utter insult to the charitable sector”. Like most things in lif ... ⌘ [Read more](https://businessdesk.co.nz/article/charities/charities-act-changes-helpful-or-hurtful)
2022-06-14T18:00:00Z	**Bus company wants govt backing to build local**
A Canterbury bus builder wants the government to consider introducing local manufacturing requirements to make sure the sector continues to be viable.

The government wants all new buses to be zero-emissions vehicles from 2025 and is targeting 2035 as the deadline for fully decarbonising the fleet. ⌘ [Read more](https://businessdesk.co.nz/article/transport/bus-company-wants-govt-backing-to-build-local)
2022-06-14T18:00:00Z	**Slowing global growth will cast a shadow in NZ**
Fitch Ratings pared back its growth forecasts for New Zealand’s main trading partners and is more downbeat about global output as inflation pressures intensify.

The weaker trading partner growth may cast a shadow over NZ’s economic output, with the latest steer on gross domestic product (GDP) and the current account due this week. ⌘ [Read more](https://businessdesk.co.nz/article/economy/slowing-global-growth-will-cast-a-shadow-in-nz)
2022-06-14T18:00:00Z	**Māori Health Authority – good call but not a magic bullet**
In March 2020, a review of New Zealand’s health and disability system, commissioned by then minister of health David Clark and chaired by Heather Simpson, recommended setting up a new independent statutory Māori health body.

The decision-making process that led to this recommendation is filled with intrigue. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/maori-health-authority-good-call-but-not-a-magic-bullet)
2022-06-14T21:00:00Z	**Annual house price growth slumps to 3.7%**
Annual house price inflation slowed to just 3.7% in May with prices down 1.6% in the month and down 5.6% in the three months ended May.

The Real Estate Institute's house price index (HPI) data showed the biggest monthly fall was in Wellington, down 2.8%, taking that city’s annual price drop to 6.9% while Auckland’s annual price was up 0.6% on a year earlier. ⌘ [Read more](https://businessdesk.co.nz/article/property/annual-house-price-growth-slumps-to-37)
2022-06-14T21:00:00Z	**Ten tips to tighten your business’s belt so it survives and then thrives**
Despite predictions in the media, nobody really knows what life will look like over the next 12 months. The fact is, modern society hasn’t been through a global pandemic on the scale of covid before, yet with everything the world has endured in the face of never-before-seen challenges, most businesses are doing pretty well.

However, with a lack of certainty around the near  ... ⌘ [Read more](https://businessdesk.co.nz/article/business-advice/ten-tips-to-tighten-your-businesss-belt-so-it-survives-and-then-thrives)
2022-06-14T21:15:00Z	**QuiznessDesk, Wednesday, June 15, 2022**
02. Name the year in which the container ship Rena ran aground in the Bay of Plenty, John Key won a second term as prime minister and the All Blacks won the seventh Rugby World Cup.
03. Which New Zealand city has a CBD bounded by streets known as the Four Avenues?
04. What new form of cricket was introduced in 2003?
05. What was the occupation of Lance Corporal Jones, the character played by Clive Dunn in Dad’s Army?
06. From what language do we get  ... ⌘ [Read more](https://businessdesk.co.nz/article/the-quiz/quiznessdesk-wednesday-june-15-2022)
2022-06-14T21:25:06Z	**365-day payments processing coming next April**
Payments NZ has announced that from April 22, 2023, payments will be processed 365 days a year, instead of the current Monday to Friday model.

This means that most electronic payments, including automatic payments, Eftpos transactions, bill payments and direct debits, will be able to occur on weekends and public holidays between all banks that use the Bulk Electronic Clearing System. ⌘ [Read more](https://businessdesk.co.nz/article/news-in-brief/365-day-payments-processing-coming-next-april)
2022-06-14T22:00:00Z	**Sale of Fonterra's Soprole could be imminent**
Things are progressing with Fonterra’s sale of its Soprole business in Chile, says a Chilean media report.

JP Morgan has presented a “teaser” to prospective buyers as well as a descriptive memorandum, according to newspaper La Tercera, in a story headlined “the Soprole divestment is under way”. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/sale-of-fonterras-soprole-could-be-imminent)
2022-06-15T00:00:00Z	**Israel’s rising bank balance**
New Zealand’s premier martial arts fighter, Israel Adesanya, is heading for another million-dollar-plus payday early next month – and another Kiwi gym-mate may not be far away in climbing up the ladder of riches that await putting your body on the line in the toughest sport in the world.

Adesanya will take on American Jared Cannonier in the [headline fight of UFC 276](https://www.espn.com/mma/fightcenter/_/id/600015541/league/ufc) in Las Vegas on July 3 in a further def ... ⌘ [Read more](https://businessdesk.co.nz/article/sport/israels-rising-bank-balance)
2022-06-15T00:21:59Z	**NZ annual deficit blows out to $23.3 billion**
New Zealand’s seasonally adjusted current account deficit widened as the economy continues to run hot.

The deficit widened from $1.9 billion to $8.5b in the March quarter and the annual current account deficit blew out to $23.3 billion, or 6.5% of gross domestic product. ⌘ [Read more](https://businessdesk.co.nz/article/economy/nz-annual-deficit-blows-out-to-233-billion)
2022-06-15T04:04:01Z	**Ryman to build new $220m village overlooking Lake Taupō**
Ryman Healthcare says it is planning to build a new $220 million retirement village on a 9.79-hectare site on Acacia Bay Road overlooking Lake Taupō.

The new village will have townhouses, serviced apartments and a care centre offering rest home, hospital and dementia care. ⌘ [Read more](https://businessdesk.co.nz/article/property/ryman-to-build-new-220m-village-overlooking-lake-taupo)
2022-06-15T04:45:00Z	**Stay strong on Te Kaha, lobby group told**
A group representing more than 2,500 Canterbury businesses is calling on Christchurch councillors to greenlight a massive budget increase for a new stadium.

The Christchurch City Council revealed [in early June](https://businessdesk.co.nz/article/infrastructure/price-shock-150m-blowout-for-christchurch-stadium) that the estimated cost of the new multi-use arena, Te Kaha, had increased by up to $150 million to $683m, raising questions abo ... ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/stay-strong-on-te-kaha-lobby-group-told)
2022-06-15T05:45:39Z	**TVNZ strikes Sony content deal**
TVNZ has secured a deal to host Sony Pictures Television content on its revamped streaming platform TVNZ+ as it looks to gain an edge in the streaming wars.

The state-backed broadcaster has struck a new “multi-year” deal that will see blockbuster movies including Spider-Man: No Way Home appear on the TVNZ app and its free-to-air channels. ⌘ [Read more](https://businessdesk.co.nz/article/media/tvnz-strikes-sony-content-deal)
2022-06-15T17:00:00Z	**Mere mortals: investor confidence ebbs**
A vast majority of retail investors have been introduced to the share market in the most unusual of times.

In 2020 ­– when most began flocking to online brokers – the pandemic sent markets into a nosedive and then central banks sent them bouncing back up. ⌘ [Read more](https://businessdesk.co.nz/article/markets/mere-mortals-investor-confidence-ebbs)
2022-06-15T17:00:00Z	**Fonterra restructure 'not in the national interest', says report**
Fonterra’s restructuring “would not be in the national interest” and will tilt the market for raw milk in the dairy giant’s favour, reducing the pressure on it to perform, warns a report commissioned by the Ministry for Primary Industries (MPI).

Despite that report’s conclusions, the government is planning to greenlight the restructuring with a couple of minor tweaks, which will mean changes  ... ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/fonterra-restructure-not-in-the-national-interest-says-report)
2022-06-15T17:00:00Z	**NZ's RNA tech opportunity**
Two years ago, New York yoga teacher Melissa Honkanen became the first person in the world to be vaccinated with the Pfizer-BioNTech coronavirus vaccine.

She was part of a clinical trial being run at New York University’s Langone Medical Centre as the world scrambled to deal with the spread of covid-19. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/nzs-rna-tech-opportunity)
2022-06-15T18:00:00Z	**Slingshot: Never mind the broadband, here comes insurance**
Slingshot landed its first insurance customer when an Otago woman found the option in the customer portal and added a home and contents policy to her account – before the company had even announced its new offering.

It must have been quite simple for her to sign up for insurance online, adding the payments to her bill and getting a bundling discount at the point of sale. ⌘ [Read more](https://businessdesk.co.nz/article/technology/slingshot-never-mind-the-broadband-here-comes-insurance)
2022-06-15T18:00:00Z	**Buyers have a sporting chance, but not a home run**
First homebuyers have been howling from the sidelines of the housing market for years, pleading to catch a break as prices ratchet up ever higher.

So, now that the housing market is cooling and lending laws are being eased, is it finally the first homebuyer’s time to shine? ⌘ [Read more](https://businessdesk.co.nz/article/opinion/buyers-have-a-sporting-chance-but-not-a-home-run)
2022-06-15T18:00:00Z	**5% higher power prices (but that's not bad)**
A 5.2% annual increase in household electricity bills is not bad when seen in their wider context, a power lines company representative says.

The chief executive of the Electricity Networks Association, Graeme Peters, said the analysis [reported yesterday by BusinessDesk](https://businessdesk.co.nz/article/energy/household-electricity-prices-rise-more-than-5) undermined stories that power prices had recently soared. ⌘ [Read more](https://businessdesk.co.nz/article/energy/5-higher-power-prices-but-thats-not-bad)
2022-06-15T19:35:09Z	**Sky pulls out of MediaWorks takeover**
Sky TV has withdrawn from talks to buy MediaWorks just a week after announcing its takeover bid.

In a statement last night, the satellite broadcaster and operator said it "has ceased discussions to evaluate the possible acquisition" of the outdoor advertising and radio company. ⌘ [Read more](https://businessdesk.co.nz/article/media/sky-pulls-out-of-mediaworks-takeover)
2022-06-15T21:15:00Z	**QuiznessDesk, Thursday, June 16, 2022**
02. Jude Law, Robert Duvall, James Mason and Ben Kingsley have all played what offsider of a famous fictional character?
03. We call it an accelerator. What is the American term?
04. American photographer Annie Leibowitz's famous photo of John Lennon and Yoko Ono appeared in which magazine?
05. Who were the hosts of an Auckland radio talkback show called Willie and JT?
06. In what 1993 action movie did Harrison Ford play a character called Dr Richard K ... ⌘ [Read more](https://businessdesk.co.nz/article/the-quiz/quiznessdesk-thursday-june-16-2022)
2022-06-15T21:40:35Z	**ANZ Bank NZ confirms Amanda Owen as CFO**
ANZ Bank New Zealand said it has confirmed Amanda Owen as its chief financial officer (CFO) after she has been acting in that role since July 2021.

Owen has been with ANZ NZ since 2002 and has held a number of roles including head of finance business partnering and divisional financial controller, and she previously worked for accounting firm KPMG in Wellington and London. ⌘ [Read more](https://businessdesk.co.nz/article/finance/anz-bank-nz-confirms-amanda-owen-as-cfo)
2022-06-15T22:45:43Z	**No more covid pre-departure tests to enter NZ**
Travellers to New Zealand will no longer need a covid-19 pre-departure test from 11.59pm on Monday, June 20, covid-19 response minister Ayesha Verrall said.

“We had intended to remove the requirement for travellers to have a pre-departure test by 31 July. But with cases continuing to decline despite over 387,000 arrivals since borders reopened there is evidence this measure can now be lifted,” Verrall said. ⌘ [Read more](https://businessdesk.co.nz/article/coronavirus/no-more-covid-pre-departure-tests-to-enter-nz)
2022-06-15T22:58:12Z	**NZ economy unexpectedly contracts in March, recession looms**
New Zealand’s economy contracted 0.2% in the March quarter, raising the possibility of a recession.

Statistics NZ's gross domestic product (GDP) quarter result was worse than economists had expected, with the median expecting the economy to grow 0.5%, according to Bloomberg. ⌘ [Read more](https://businessdesk.co.nz/article/economy/nz-economy-unexpectedly-contracts-in-march-recession-looms)
2022-06-16T00:55:00Z	**$3b provincial growth fund leads to increased community 'optimism'**
The fund secured by New Zealand First as part of its coalition negotiations with Labour has delivered thousands of jobs, a report says.

The provincial growth fund (PGF) was established in late 2017 to invest $1 billion per year for three years in projects in regional NZ. ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/3b-provincial-growth-fund-leads-to-increased-community-optimism)
2022-06-16T01:10:26Z	**Recession fears are real as NZ economy unexpectedly shrinks**
New Zealand’s economy shrank 0.2% in the March quarter, raising the possibility of a recession.

The result was worse than [economists had expected](https://businessdesk.co.nz/article/economy/nz-economy-unexpectedly-contracts-in-march-recession-looms), with the median predicting the economy to grow 0.5% in the quarter, according to Bloomberg. ⌘ [Read more](https://businessdesk.co.nz/article/economy/recession-fears-are-real-as-nz-economy-unexpectedly-shrinks)
2022-06-16T02:45:00Z	**God v govt: religious groups argue against vax mandate**
The minister for covid response had misunderstood the nature of religion when imposing restrictions against religious gatherings as part of New Zealand’s covid response, the high court at Wellington heard today.

A group of 15 churches, mosques and an Anglican minister are seeking a judicial review against the requirement for attendees to be vaccinated in religious gatherings. ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/god-v-govt-religious-groups-argue-against-vax-mandate)
2022-06-16T04:00:18Z	**Wounded Sky under pressure to return cash after MediaWorks U-turn**
It’s safe to say Sky TV’s shareholders are relieved today. Stock in the satellite broadcaster is up 5.7% at the time of writing to $2.38 following news that the company has withdrawn its takeover offer for radio and outdoor advertising business, MediaWorks.

The deal always looked under threat. Sky shares plummeted by 7% last week as it announced surprise plans to snap up the home of Today FM, The ... ⌘ [Read more](https://businessdesk.co.nz/article/media/wounded-sky-under-pressure-to-return-cash-after-mediaworks-u-turn)
2022-06-16T05:44:47Z	**NZ share market climbs as US Federal Reserve hikes interest rates**
New Zealand shares rose slightly on Thursday as investors bought back into risk assets after the Fed, the American central bank delivered a 75 basis-point rate increase.

The S&P/NZX 50 Index rose 10.6 points, or 0.1%, to 10,646.58. Turnover was $114 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/nz-share-market-climbs-as-us-federal-reserve-hikes-interest-rates)
2022-06-16T17:00:00Z	**Weak growth won't tether a hawkish RBNZ**
The economy contracted in the March quarter, but that’s not going to deter a central bank that’s hell-bent on curbing inflation.

To be fair, that is its gig. It is mandated with keeping inflation at 1% to 3%, with a focus on the midpoint. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/weak-growth-wont-tether-a-hawkish-rbnz)
2022-06-16T17:00:00Z	**Ministry of Health seeks answers over Mike King interview claims**
The Ministry of Health is seeking a ‘please explain’ from the charitable trust behind the youth counselling service, Gumboot Friday.

It follows comments made by former comedian and mental health advocate Mike King during an interview with broadcaster Sean Plunket on The Platform, a new media venture [funded by the Wright family](https://businessdesk.co.nz/article/media/the-platforms-secret-back ... ⌘ [Read more](https://businessdesk.co.nz/article/charities/ministry-of-health-seeks-answers-over-mike-king-interview-claims)
2022-06-16T18:00:00Z	**Boston Consulting report shows diversity brings innovation to business**
The 10 most innovative large companies in Aotearoa New Zealand are those that are seeing dividends from including greater diversity in their leadership.

A [report on innovation in NZ’s biggest compani](https://www.bcg.com/publications/2022/new-zealand-innovation-index-of-most-innovative-companies) [es](https://www.bcg.com/publications/2022/new-zealand-innovation-index-of-most-innov ... ⌘ [Read more](https://businessdesk.co.nz/article/technology/boston-consulting-report-shows-diversity-brings-innovation-to-business)
2022-06-16T18:00:00Z	**Australia's electricity train wreck has lessons for NZ**
The current turmoil in the Australian electricity market justifies Meridian Energy’s decision to sell its assets there and should also serve as a warning to those who want to tinker with the market in New Zealand, Meridian’s chief financial officer Mike Roan said.

Speaking to BusinessDesk’s Frances Cook on a Sharesies’ shared lunch session, Roan said Meridian had been concerned at developments in Australia for some ti ... ⌘ [Read more](https://businessdesk.co.nz/article/energy/australias-electricity-train-wreck-has-lessons-for-nz)
2022-06-16T18:00:00Z	**Government favours Fonterra’s commercial interests: MPI**
The Ministry for Primary Industries (MPI) says agriculture minister Damien O’Connor is placing greater weight on supporting Fonterra’s commercial objectives than he should.

Instead, the government should return to the original intent behind the Dairy Industry Restructuring Act 2001 (DIRA), which aimed to mitigate the harmful effects of allowing Fonterra a near monopoly, MPI said in its regulatory impact state ... ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/government-favours-fonterras-commercial-interests-mpi)
2022-06-16T18:00:00Z	**HW Richardson takes 'uncommercial' plunge into hydrogen**
Transport group HW Richardson will start moving its 1,300-strong fleet to green hydrogen this year, at a cost that even it says makes little commercial sense.

The Southland-based conglomerate plans to have its first 10 dual-fuel hydrogen trucks on the road by next year, a tiny percentage of its fleet but a start in its ambitions to transition its road assets to carbon-zero fuels over the next 20 years. ⌘ [Read more](https://businessdesk.co.nz/article/transport/hw-richardson-takes-uncommercial-plunge-into-hydrogen)
2022-06-16T21:15:00Z	**QuiznessDesk, Friday, June 17, 2022**
02. What multiple Oscar-winning British film of 1981 took its title from a line in the hymn Jerusalem?
03. What country is known by most of its citizens as Bharat?
04. A person who extemporises does what: improvises, tells half-truths or makes excuses?
05. What meat is used in the traditional English dish known as toad in the hole?
06. Tiger, Kingfisher, Tsingtao and Asahi are brands of what?
07. What range of hills does State Highway 1 cross between Whang ... ⌘ [Read more](https://businessdesk.co.nz/article/the-quiz/quiznessdesk-friday-june-17-2022)
2022-06-16T22:45:58Z	**NZME wins radio rights to Commonwealth and Olympic Games**
NZME has won the radio broadcast rights for the 2022 Commonwealth Games and 2024 Olympics as the media group bolsters its sports coverage.

Newstalk ZB and Gold Sport will air the games in Birmingham this year and Paris two years later after, NZME agreed a new partnership with Sky, the TV broadcaster of both events. ⌘ [Read more](https://businessdesk.co.nz/article/media/nzme-wins-radio-rights-to-commonwealth-and-olympic-games)
2022-06-17T00:30:00Z	**Business of Sport: has NZ Rugby reaped what it sowed?**
The problem with being the schoolyard bully and threatening to take your ball home is that the other kids in the sandpit might one day call your bluff.

It’s hard to escape the feeling that is what New Zealand Rugby is facing following the bombshell revelation out of Australia late Thursday that Rugby Australia is seriously [considering quitting Super Rugby Pacific](https://www.foxsports.com.au/rugby/wallabies/australian-r ... ⌘ [Read more](https://businessdesk.co.nz/article/sport/business-of-sport-has-nz-rugby-reaped-what-it-sowed)
2022-06-17T02:24:20Z	**High water marks: Watercare raises the tide on sustainability**
The No.1 barrier to decarbonisation for New Zealand organisations is accurate measurement, says a comprehensive report that provides pathways for companies looking for ways to boost progress.

[Microsoft’s Accelerating the Journey to Net Zero report](https://www.microsoft.com/en-nz/business/empower-nz/sustainability/your-journey) found Kiwi organisations have committed to addressing climate change, but fall sh ... ⌘ [Read more](https://businessdesk.co.nz/sponsored/high-water-marks-watercare-raises-the-tide-on-sustainability)
2022-06-17T03:30:00Z	**Fabrum open to listing to keep up with hydrogen demand**
Fabrum Solutions, the company responsible for the fuel system used by Team New Zealand’s hydrogen-powered chase boats, might look at an initial public offering (IPO) as it seeks to fund its fast-track, global growth.

Chris Boyle, a co-founder of the engineering and cleantech company, said the Christchurch-based firm was pursuing a capital raise of “tens of millions” and said it wouldn’t discount a public listing  ... ⌘ [Read more](https://businessdesk.co.nz/article/technology/fabrum-open-to-listing-to-keep-up-with-hydrogen-demand)
2022-06-17T04:10:00Z	**'Collusive' freight firms fined almost $10m**
Freight forwarders Mondiale Freight and Oceanbridge and four of their directors have copped fines of $9.7 million for cartel activity.

High court Justice Edwin Wylie handed the penalties down on June 10, after the Commerce Commission filed [proceedings last December against the firms](https://businessdesk.co.nz/article/transport/regulator-charges-freight-forwarders-with-price-fixing) – two of the country's biggest freight forwarders – cit ... ⌘ [Read more](https://businessdesk.co.nz/article/transport/collusive-freight-firms-fined-almost-10m)
2022-06-17T05:30:00Z	**The Spinoff's Daylight merges with tech firm Translate Digital**
Daylight Creative, the digital marketing agency spun out of The Spinoff, is merging with long-time tech partner Translate Digital to create a new agency providing creative marketing and tech product development.

The resulting company, simply called Daylight, wants to tap into the emerging market of companies looking for a full-service agency to create new digital products and then bring them to mar ... ⌘ [Read more](https://businessdesk.co.nz/article/technology/the-spinoffs-daylight-merges-with-tech-firm-translate-digital)
2022-06-17T05:43:05Z	**Cautious trading follows week of share market turmoil**
New Zealand’s benchmark index had a slightly subdued end of the week after yesterday’s US Federal Reserve’s largest interest rate increase in almost 30 years made investors take flight at the prospect of future hikes.

It’s been a rocky week overall for NZ shares because earlier in the week the index sank 2.6% before picking up some ground on Wednesday and finding a skip in its step yesterday. ⌘ [Read more](https://businessdesk.co.nz/article/markets/cautious-trading-follows-week-of-share-market-turmoil)
2022-06-17T18:00:02Z	**Christchurch vies with Auckland for events dollars**
Christchurch is taking aim at Auckland's events and business market in the wake of delays to the opening of the International Convention Centre (NZICC) and uncertainty over the city’s showgrounds venue.

SkyCity Entertainment’s $700 million, 32,000-square-metre NZICC is now expected to open its doors in 2025, five years after it was originally scheduled for completion. ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/christchurch-vies-with-auckland-for-events-dollars)
2022-06-17T18:00:00Z	**On the Money: Crusaders, Grant Rosewarne, Nanaia Mahuta, and more**
**Plane scrum**

The Crusader squad has clearly bulked up before this weekend’s much anticipated Super Rugby final against the Blues at Eden Park. ⌘ [Read more](https://businessdesk.co.nz/article/on-the-money/on-the-money-crusaders-grant-rosewarne-nanaia-mahuta-and-more)
2022-06-17T18:00:00Z	**Money Answers: how can I sell myself?**
**BusinessDesk's investments editor, Frances Cook, responds to readers' emails on a weekly basis to answer various questions about money. Below you'll find her expert advice. Send your own questions to answers@businessdesk.co.nz.** ⌘ [Read more](https://businessdesk.co.nz/article/finance/money-answers-how-can-i-sell-myself)
2022-06-18T17:00:00Z	**Great escape – 10 must-see (but little-known) places to visit in France**
There is a flight at the end of the tunnel. Countries are opening up again, and airlines are starting to take people places. If you have been champing at the bit to head to Europe for a holiday, this list of stunning but little-known places to visit in France will get your imagination running.

![](https://businessdesk.co.nz/storage/OSmaeH3RakpXJTNEcVvqMnk43YCn3EsHAzbg8LLm.jpg) ⌘ [Read more](https://businessdesk.co.nz/article/the-life/great-escape-10-must-see-but-little-known-places-to-visit-in-france)
2022-06-18T17:00:00Z	**A good yarn - stylish local knitwear for the winter season**
Winter solstice approaches as parts of the country lie under a thick layer of snow. This is cuddle weather. It's a time for soups and stews, David Lynch TV marathons and hibernating to avoid the cold.

This is also knitwear season. Garments fashioned in merino, cashmere and perino (a dreamy blend of possum and merino fibres) are on my mind. We do knitwear so well in this country, so you’ll want to shop local.  ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/a-good-yarn-stylish-local-knitwear-for-the-winter-season)
2022-06-18T17:00:00Z	**Why Jaguar Land Rover is reinventing itself as a pure-electric carmaker**
A year ago, I wrote about the [Jaguar F-Pace and made a plea](https://businessdesk.co.nz/article/the-life/review-jaguar-f-pace-goes-like-a-rocket-but-please-jag-stick-to-your-knitting) to the English carmaker: please stop making SUVs and concentrate on the sports cars and saloons that made you famous.

The message was pretty much immediately received at Jaguar Land Rover HQ and a fe ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/why-jaguar-land-rover-is-reinventing-itself-as-a-pure-electric-carmaker)
2022-06-18T17:00:00Z	**Talking Shop – Abel CEO Frances Shoemack on taking a clean fragrance brand to the world**
Abel, a luxury natural perfume brand, was founded in Amsterdam in 2011 by proud New Zealander Frances Shoemack. With a focus on sustainability and ethical business, Abel is helping lead the charge in the “clean” environmentally friendly fragrance market. Now based in Wellington, Abel is sold in 33 countries including Japan, the US and Germany.

**Tell u ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/talking-shop-abel-ceo-frances-shoemack-on-taking-a-clean-fragrance-brand-to-the-world)
2022-06-18T17:00:00Z	**My Net Worth: Brien Cree, managing director/executive chairman, Radius Care**
Welcome to My Net Worth, our regular column on the lives and motivations of our country’s top business, legal and political people in their own words.

Brien Cree’s passion for the aged-care sector was sparked by his frustrations trying to find a suitable facility for his mother after she suffered a stroke. Some of the retirement companies he visited seemed more focused on their ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/my-net-worth-brien-cree-managing-directorexecutive-chairman-radius-care)
2022-06-18T17:00:00Z	**Review: Philips Hue – does smart lighting shine?**
Smart homes are becoming all the rage these days and while smart speakers like Amazon’s Alexa may be the most popular smart home device, smart lightbulbs are perhaps still somewhat more niche.

The promise of these bulbs is great – any colour at any brightness to turn your boring rooms into stages where the lighting matches your every mood. ⌘ [Read more](https://businessdesk.co.nz/article/technology/review-philips-hue-does-smart-lighting-shine)
2022-06-19T17:00:23Z	**BusinessDesk adds Bloomberg, The Economist and more new hires**
BusinessDesk just keeps getting better.

From this week, we’re delighted to start bringing our subscriber-readers a selection of the best content from global financial news service Bloomberg and the bible of the political economy, The Economist. ⌘ [Read more](https://businessdesk.co.nz/article/self-promotion/businessdesk-adds-bloomberg-the-economist-and-more-new-hires)
2022-06-19T17:00:00Z	**Gas dilemma: why govt didn't set a phase-out deadline**
The government baulked at setting a deadline for phasing out natural gas as it became clear it was essential for energy security and billions of dollars in costs would fall on households, businesses and the taxpayer, cabinet papers show.

The Emissions Reductions Plan announced in May included a Gas Transition Plan. It stopped short of naming dates for the end of gas use in any form, unlike measures proposed for coal. ⌘ [Read more](https://businessdesk.co.nz/article/energy/gas-dilemma-why-govt-didnt-set-a-phase-out-deadline)
2022-06-19T17:00:00Z	**Why not take the knife to Fonterra’s management instead?**
A report that the Ministry for Primary Industries (MPI) commissioned and [slipped onto its website](https://businessdesk.co.nz/article/fonterra-restructure-not-in-the-national-interest-says-report) with little fanfare has a few gems of comments about how the interests of Fonterra’s management aren’t the same as the interests of its farmer suppliers/shareholders.

Fonterra’s management has “an incentive to grow the  ... ⌘ [Read more](https://businessdesk.co.nz/article/opinion/why-not-take-the-knife-to-fonterras-management-instead)
2022-06-19T18:00:00Z	**Macquarie says Australian banks are profiting from low term deposit rates**
The Financial Market’s Authority’s annual investor survey this week showed that for the first time ever direct equity investments are now more common among New Zealanders than term deposits.

This is likely partly due to the increased accessibility of shares and managed funds – thanks to the dawn of retail platforms – but has also been driven by ultra-low interest rates which hav ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/macquarie-says-australian-banks-are-profiting-from-low-term-deposit-rates)
2022-06-19T18:00:00Z	**City Rail Link a plus for nearby Auckland property values**
Aucklanders who own property near City Rail Link (CRL) stations should expect an increase in their property values.

The value uplift associated with increased amenity will also help the massive project recoup some of its costs. Why? ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/city-rail-link-a-plus-for-nearby-auckland-property-values)
2022-06-19T19:00:00Z	**Cooking the Books: why Mahé Drysdale changed everything to become a financial adviser**
**Each week BusinessDesk and the NZ Herald's Cooking the Books podcast tackles a different money problem. Today, it's Mahé Drysdale on his experience making a big career change, and his top financial tips. Hosted by Frances Cook.** ⌘ [Read more](https://businessdesk.co.nz/article/finance/cooking-the-books-why-mahe-drysdale-changed-everything-to-become-a-financial-adviser)
2022-06-19T19:00:00Z	**Salt of the Earth is saving the sea from plastic pollution**
A sustainable packaging business based in the Bay of Plenty has a big dream. It wants to change the world of packaging for the better – and save the ocean at the same time.

“We’ve got a passion and desire to clean up the ocean and environment and to design better waste solutions that are regenerative for a better future,” says Melissa Woods, the co-founder of Salt of the Earth Packaging. ⌘ [Read more](https://businessdesk.co.nz/article/profile/salt-of-the-earth-is-saving-the-sea-from-plastic-pollution)
2022-06-19T21:15:00Z	**QuiznessDesk, Monday, June 20, 2022**
02. What female saint was executed for dressing as a male?
03. Two films from 1965 are among the 10 highest-grossing movies of all time: Doctor Zhivago and which other?
04. Which country won the 2022 Eurovision Song Contest?
05. Which New Zealand region has had the lowest uptake of electric vehicles: Southland, the West Coast or Taranaki?
06. Sir George Ivan Morrison is better known by what name?
07. Which 20th-century British prime minister was rarely pho ... ⌘ [Read more](https://businessdesk.co.nz/article/the-quiz/quiznessdesk-monday-june-20-2022)
2022-06-19T22:30:05Z	**Woodside and Fortescue vie for Southland green hydrogen project**
Plans for industrial-scale green hydrogen production in Southland are a step closer with the shortlisting of two of Australia’s largest energy and mining companies as lead developers for the project.

Woodside Energy and the future industries arm of Fortescue Metals were named today as entering final stage negotiations with Southern Green Hydrogen, a project jointly supported by NZX-listed Meridian E ... ⌘ [Read more](https://businessdesk.co.nz/article/energy/woodside-and-fortescue-vie-for-southland-green-hydrogen-project)
2022-06-19T23:41:02Z	**The week central banks changed course**
The multi-trillion dollar world of central banking has just turned on a dime.

In early June, the Fed (US Federal Reserve) was expected shortly to raise interest rates by half a percentage point. ⌘ [Read more](https://businessdesk.co.nz/article/the-economist/the-week-central-banks-changed-course)
2022-06-20T00:15:47Z	**Your Bot is Still Not Your Friend**
By Parmy Olson

It has been an exasperating week for computer scientists. They’ve been falling over each other to publicly denounce claims from Google engineer Blake Lemoine, chronicled in a Washington Post report, that his employer’s language-predicting system was sentient and deserved all of the rights associated with consciousness. ⌘ [Read more](https://businessdesk.co.nz/article/bloomberg/your-bot-is-still-not-your-friend)
2022-06-20T00:27:40Z	**US Rejects China's Taiwan Strait Claim**
By Peter Martin and Jennifer Jacobs

Biden administration officials have decided to reject a vague new assertion by China that the Taiwan Strait is not “international waters” and are increasingly concerned the stance could result in more frequent challenges at sea for the democratically governed island, according to people familiar with the matter. ⌘ [Read more](https://businessdesk.co.nz/article/bloomberg/us-rejects-chinas-taiwan-strait-claim)
2022-06-20T02:13:26Z	**NZME makes up for slow buyback with $10m special dividend**
NZME will pay shareholders a $9.7 million special dividend in place of its share buyback programme, which has been paused while the company is in a restricted trading period.

The media company and owner of BusinessDesk said the $30m buyback had been “slower than anticipated” due to low trading volumes – which makes it harder to buy on market without pushing the price higher. ⌘ [Read more](https://businessdesk.co.nz/article/markets/nzme-makes-up-for-slow-buyback-with-10m-special-dividend)
2022-06-20T02:45:25Z	**NZSA, Simplicity call for Fletcher chair Bruce Hassall to resign**
The New Zealand Shareholders’ Association and non-profit fund manager Simplicity are calling for Fletcher Building chair Bruce Hassall to resign and for all other directors to stand for re-election at the next annual shareholders’ meeting.

The two organisations are also calling for independent reviews of Fletcher’s culture and risk, saying the company’s privileged position as the dominant p ... ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/nzsa-simplicity-call-for-fletcher-chair-bruce-hassall-to-resign)
2022-06-20T04:06:22Z	**Jacinda Ardern heads to Europe to complete ‘reconnection’ plan**
Prime minister Jacinda Ardern will leave the country on Sunday for five days of meetings in London, Brussels and Madrid in the third of three international trips signalled at the beginning of the year to mark New Zealand’s emergence from covid-19 isolation.

She will then be in Australia for four days to attend the first Australia-New Zealand Leadership Forum gathering since 2019, before the global pand ... ⌘ [Read more](https://businessdesk.co.nz/article/economy/jacinda-ardern-heads-to-europe-to-complete-reconnection-plan)
2022-06-20T05:43:19Z	**NZ shares flat as recession risk puts investors off trading**
New Zealand's sharemarket was flat on Monday with very light volume traded through the market as US markets closed tonight for the Juneteenth holiday.

The S&P/NZX 50 Index fell just one single point to 10,588.21. Turnover was $84 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/nz-shares-flat-as-recession-risk-puts-investors-off-trading)
2022-06-20T17:00:25Z	**Law aimed at supermarkets' anti-competition covenants set to pass**
Legislation curtailing supermarket chains’ ability to use property covenants to prevent competition is set to pass this week, though the final shape of the law is not yet known.

The government is working to pass the Commerce (Grocery Sector Covenants) Amendment Bill by Thursday, with its second reading due today. ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/law-aimed-at-supermarkets-anti-competition-covenants-set-to-pass)
2022-06-20T17:00:00Z	**KKR's Education Perfect unlikely to achieve earnout after $400m sale**
KKR’s Education Perfect will not achieve 2022 earn-out targets, meaning shareholders won’t get a $20m bonus following its 2021 [sale](https://businessdesk.co.nz/article/news-in-brief/kkr-buys-controlling-stake-in-dunedins-education-perfect).

US private equity firm KRR picked up Education Perfect for $411.45m last year, as well as the smaller Ed Potential for $2.9m. ⌘ [Read more](https://businessdesk.co.nz/article/technology/kkrs-education-perfect-unlikely-to-achieve-earnout-after-400m-sale)
2022-06-20T17:00:00Z	**Behind the NZ Mormon church's millions**
It might be easy to cast off the Mormon church as a fringe religion in New Zealand, but in terms of finances it rather punches above its weight.

Boasting $424 million in assets, it is NZ’s third wealthiest centralised religious group and 20th richest charity. ⌘ [Read more](https://businessdesk.co.nz/article/charities/behind-the-nz-mormon-churchs-millions)
2022-06-20T17:00:00Z	**Is raising rates the wrong answer to inflation?**
Something tells me raising interest rates is the wrong response to the undoubtedly worrying high inflation the world is experiencing.

Our own Reserve Bank started relatively early, hiking its official cash rate (OCR) from 0.25% to 2% between October and late May, and it will probably hike a further 50 basis points to 2.5% when it releases its next monetary policy statement on July 13. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/is-raising-rates-the-wrong-answer-to-inflation)
2022-06-20T18:00:00Z	**Bets off for SkyCity’s casino boss, as high rollers disappear**
SkyCity Entertainment's chief casino officer Matt Ballesty will leave the casino and hotel operator post the disappearance of ‘high roller’ junkets.

The company stopped bringing in foreign high rollers in the wake of a regulator's review into money laundering in Australia. ⌘ [Read more](https://businessdesk.co.nz/article/listed-companies/bets-off-for-skycitys-casino-boss-as-high-rollers-disappear)
2022-06-20T21:15:00Z	**QuiznessDesk, Tuesday, June 21, 2022**
02. What African-American spiritual song from the 19th century is traditionally sung by British rugby fans?
03. Complete the title of a hit song by Freddy Fender: Wasted Days and …
04. Which of the following is not a country: Kurdistan, Tajikistan, Turkmenistan or Kyrgyzstan?
05. In an early American folk song, who went to town riding on a pony?
06. In the title of a hit teen comedy of 1986 starring Matthew Broderick in the title role, who had a day off? ... ⌘ [Read more](https://businessdesk.co.nz/article/the-quiz/quiznessdesk-tuesday-june-21-2022)
2022-06-20T22:30:57Z	**No, Fletcher chair Bruce Hassall shouldn't resign over Gib shortage**
Should Fletcher Building chair Bruce Hassall resign because of the Gib plasterboard shortage or because he failed to apologise for the situation, asked Jarden analyst Grant Swanepoel, dismissing that as grounds for Hassall to fall on his sword.

“Should any company be expected to hold excess capacity for a short period of time when demand is way outstripping a normal demand pattern?” Sw ... ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/no-fletcher-chair-bruce-hassall-shouldnt-resign-over-gib-shortage)
2022-06-20T23:40:43Z	**Mark Heine named permanent CEO of Eroad**
Mark Heine has been named as permanent chief executive for Eroad after nearly three months as acting CEO.

Formerly the executive vice president general counsel, Heine was named acting CEO following the sudden resignation of Steve Newman in April, after 14 and a half years with the company. ⌘ [Read more](https://businessdesk.co.nz/article/technology/mark-heine-named-permanent-ceo-of-eroad)
2022-06-21T01:20:01Z	**Former central banker slams Adrian Orr's 'dancing with forest fairies'**
Reserve Bank governor Adrian Orr is performing an increasingly political role, risking the credibility of the central bank and hurting rather than helping the New Zealand economy, according to former central banker Geof Mortlock.

In an open letter to finance minister Grant Robertson and RBNZ chair Neil Quigley, Mortlock particularly takes issue with Orr’s “favourite theme of portraying t ... ⌘ [Read more](https://businessdesk.co.nz/article/finance/former-central-banker-slams-adrian-orrs-dancing-with-forest-fairies)
2022-06-21T01:40:42Z	**Govt's answer to Gib crisis - set up working group**
A ministerial taskforce is to look at what can be done to ease plasterboard shortages, including the potential for legislative or regulatory change.

“My top priority is to ensure builders, from big companies to single tradies, have the materials they need to do their job with confidence,” the minister for building and construction Megan Woods said. ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/govts-answer-to-gib-crisis-set-up-working-group)
2022-06-21T03:01:22Z	**What's shaping NZ's financial services sector**
FST is proud to bring together the region’s most renowned thought-leaders and executives to explore the tech trends shaping New Zealand’s financial services sector, especially off the back of the covid-19 pandemic.

At the annual conference, experts in IT, retail banking, digital, customer experience, data, payments and platforms will investigate the digital transformation set to empower the NZ industry and continue the trajectory of connec ... ⌘ [Read more](https://businessdesk.co.nz/sponsored/whats-shaping-nzs-financial-services-sector-1)
2022-06-21T04:15:00Z	**Villa Maria founder George Fistonich suffers court setback**
The receivers appointed to a company owned by Villa Maria founder George Fistonich will be able to retain funds to defend against claims by Fistonich.

In a judgment issued on June 16 but provided to the media on Tuesday, Justice van Bohemen dismissed an application from Fistonich and his company, FFWL, seeking to prevent receivers Brendon Gibson and Neale Jackson from retaining any funds. ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/villa-maria-founder-george-fistonich-suffers-court-setback)
2022-06-21T05:24:40Z	**NZ shares rise as recession fears ease**
New Zealand's benchmark index had a positive bounce today as investors' concern about an impending recession receded slightly.

The S&P/NZX 50 Index rose 113.3 points or 1.07% to 10,701.59. Turnover was $119 million and 40 stocks fell while 100 stocks rose. ⌘ [Read more](https://businessdesk.co.nz/article/markets/nz-shares-rise-as-recession-fears-ease)
2022-06-21T17:00:00Z	**Vote passive: the future of corporate democracy**
Passive investing has always been a misnomer.

Behind the facade of non-activity lurks a complex machine of many moving parts and obscure sources of power. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/vote-passive-the-future-of-corporate-democracy)
2022-06-21T17:00:00Z	**KiwiSaver inequity leaves women $318,000 worse off**
Women are missing out on up to $318,000 in their KiwiSaver, thanks to pay gap impacts.

The research, commissioned by Kiwi Wealth and independently carried out by the New Zealand Institute of Economic Research (NZIER), found that the average woman has a balance that’s 20% lower than the average man’s balance, across all age groups. ⌘ [Read more](https://businessdesk.co.nz/article/finance/kiwisaver-inequity-leaves-women-318000-worse-off)
2022-06-21T17:00:00Z	**Sprints, scrums and tribes: Spark and the Agile experiment**
We’ve all read confusing terms in job advertisements, business reports and articles, which seem to be talking in another organisational language.

‘Scrums’, ‘sprints’, ‘slack channels’ and ‘waterfalls’ send a shiver down the spines of many traditionally structured workplaces. ⌘ [Read more](https://businessdesk.co.nz/article/business-advice/sprints-scrums-and-tribes-spark-and-the-agile-experiment)
2022-06-21T17:00:00Z	**Mormons and their money: a labour of loyalty**
Aside from the conversion work of their young missionaries, New Zealand’s Mormon communities are typically insular.

Through interviews with former bishops, members and scholarly experts, BusinessDesk pulls back the curtain on the Church of Latter-day Saints. ⌘ [Read more](https://businessdesk.co.nz/article/charities/mormons-and-their-money-a-labour-of-loyalty)
2022-06-21T18:00:00Z	**NZ-first rates hike for Christchurch landbankers**
The Christchurch city council has approved an initiative to charge vacant land owners in the central city higher rates.

A majority of councillors supported the proposal – to charge owners of vacant land with no active or consented use four times the standard general rate – at a meeting on Tuesday. ⌘ [Read more](https://businessdesk.co.nz/article/property/nz-first-rates-hike-for-christchurch-landbankers)
2022-06-21T18:00:00Z	**Trust in China takes a hit, US more warmly viewed by New Zealanders**
An annual survey of New Zealanders’ attitudes towards Asia has found a sudden shift away from trusting China and a swing towards trusting the United States.

The Asia-New Zealand Foundation’s annual survey of perceptions of Asia was taken last November, but a “mini-poll” was run in June to track any shifts in attitudes in the intervening seven months. ⌘ [Read more](https://businessdesk.co.nz/article/global-events/trust-in-china-takes-a-hit-us-more-warmly-viewed-by-new-zealanders)
2022-06-21T18:00:00Z	**Craigs recommends investors be ‘overweight’ Fletcher shares**
One analyst expects new builds of houses to remain above pre-pandemic levels, which should be supportive of Fletcher Building over the medium to long term.

Craigs Investment Partners analyst Cameron Parker said in a note that about 33% of Fletcher’s revenue is exposed to the New Zealand residential construction market. ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/craigs-recommends-investors-be-overweight-fletcher-shares)
2022-06-21T19:00:00Z	**Fair pay agreements seek end of 'race to the bottom'**
Is the so-called “race to the bottom” just a myth and if not is the government’s [fair pay agreements](https://businessdesk.co.nz/article/politics/up-for-debate-draft-fair-pay-agreement-law-introduced) legislation the solution we need? BusinessDesk investigates what could be the biggest shake-up in industrial relations for over 30 years.

In his first reading speech on his fair pay agreements (FPA) bill, workplace r ... ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/fair-pay-agreements-seek-end-of-race-to-the-bottom)
2022-06-21T21:15:00Z	**QuiznessDesk, Wednesday, June 22, 2022**
02. What famous movie character was first played by Alec Guinness in 1977 and more than two decades later by Ewan McGregor?
03. In British politics, who is Nicola Sturgeon?
04. In retailing, what is the two-word term for an item that has been heavily discounted in order to attract customers into the store?
05. Which of the following is a herb (i.e. not a spice): ginger, nutmeg, coriander or cinnamon?
06. The Vauxhall, Lambeth and Millennium bridges c ... ⌘ [Read more](https://businessdesk.co.nz/article/the-quiz/quiznessdesk-wednesday-june-22-2022)
2022-06-21T21:30:32Z	**Finance minister owns seeds of RBNZ's Tāne Mahuta**
Finance minister Grant Robertson said the Reserve Bank of New Zealand (RBNZ) has obligations as a crown entity “with respect to Māori-crown relations”.

Robertson was responding to an open letter from former central banker Geof Mortlock which accused RBNZ governor Adrian Orr of performing an increasingly political role, risking the credibility of the central bank and hurting rather than helping the NZ economy. ⌘ [Read more](https://businessdesk.co.nz/article/finance/finance-minister-owns-seeds-of-rbnzs-tane-mahuta)
2022-06-21T21:36:40Z	**Elon Musk, Nouriel Roubini, Goldman Sachs warn on US recession**
Elon Musk, Nouriel Roubini and Goldman Sachs Group have warned of a growing likelihood that the US economy will fall into recession.

Their outlooks will stoke fears of a hard landing for the world’s biggest economy as the Federal Reserve jacks up interest rates to counter the fastest pace of inflation in decades. ⌘ [Read more](https://businessdesk.co.nz/article/bloomberg/elon-musk-nouriel-roubini-goldman-sachs-warn-on-us-recession)
2022-06-22T00:00:02Z	**NZ Rugby refocuses on its shepherd role**
New Zealand Rugby gave a first glimpse into its post-Silver Lake deal future with the unveiling of a “Strategy 2025” campaign in Auckland on Tuesday.

In previous years, similar functions have focused strongly on the commercial elements around our national game. ⌘ [Read more](https://businessdesk.co.nz/article/sport/nz-rugby-refocuses-on-its-shepherd-role)
2022-06-22T00:26:20Z	**Fletcher said Gib orders reached double capacity**
Fletcher Building said orders of plasterboard doubled between November last year and February this year and that was about double the industry’s current capacity.

The company said it had been meeting the demand for its Gib-branded plasterboard up to August last year and that following Auckland’s lockdown, customers facing shortages of various key building materials, including timber, insulation and plasterboard, had brou ... ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/fletcher-said-gib-orders-reached-double-capacity)
2022-06-22T02:00:00Z	**Armstrong Downes creditors fire liquidator**
Creditors in failed Wellington construction firm Armstrong Downes Commercial have replaced liquidators Grant Thornton with Auckland-based Waterstone Insolvency.

Grant Thornton’s David Ruscoe and Malcolm Moore were appointed by Tony Doile and Simon Taylor as directors and shareholders in ADC, after the construction firm moved into liquidation on May 2, a victim of fixed contract pricing and building cost escalation. ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/armstrong-downes-creditors-fire-liquidator)
2022-06-22T02:37:27Z	**Wimbledon's finest moments for sale**
One of the flow-on effects from the digital phenomenon that is NFTs, is professional sports stars will soon start to include NFT rights in their contracts – according to the Kiwi startup creating and marketing the release of Wimbledon's just-released Centenary Collection.

Glorious Digital, the company whose shareholding includes former All Black Dan Carter, former Sky TV founder Craig Heatley and former Solicitor-General Mike Heron, has released 10 digital art ... ⌘ [Read more](https://businessdesk.co.nz/sponsored/wimbledons-finest-moments-for-sale)
2022-06-22T02:15:43Z	**Dairy prices dip, but farm gate price lifts**
ASB Bank lifted its forecast farmgate milk price for the current season to $10 per kilogram of milk solids after strong demand from North Asia underpinned dairy prices at today’s Global Dairy Trade auction.

While the GDT index slipped 1.3%, led by milk fat products such as cheddar and anhydrous milk fats, ASB economist Nathaniel Keall said: “a modest dip isn’t a big deal”. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/dairy-prices-dip-but-farm-gate-price-lifts)
2022-06-22T04:20:34Z	**Portainer doubles series A funding in round extension, led by Movac**
Portainer, a NZ-born startup that supplies software for managing containerised IT environments, has raised an additional US$6.2 million (NZ$9.88m) in an extension of its series A round.

This more than doubles the amount it has raised in the round, adding to the US$6 million the company [raised last year](https://businessdesk.co.nz/article/us-europe-and-nz-investment-for-portainer). ⌘ [Read more](https://businessdesk.co.nz/article/news-in-brief/portainer-doubles-series-a-funding-in-round-extension-led-by-movac)
2022-06-22T05:30:00Z	**NZ’s freshwater future looks bleak and 'broken'**
New Zealand’s current business approach to fresh water is broken, a Te Aukaha Māori agribusiness expert told the audience at the E Tipu agricultural summit in Christchurch on Wednesday.

Hilton Collier (Ngāti Porou) who is a Te Aukaha Māori agribusiness expert and Pakihiroa Farms general manager was at the NZ’s biggest food and fibre sector event in Christchurch this week to speak about the country’s approach to fresh water from  ... ⌘ [Read more](https://businessdesk.co.nz/article/environment/nzs-freshwater-future-looks-bleak-and-broken)
2022-06-22T05:46:22Z	**NZ shares fall as Eroad near all-time low**
New Zealand's sharemarket declined on Wednesday, with fleet management company Eroad falling to just 10 cents above its all-time lowest share price.

The S&P/NZX 50 Index fell 22 points, or 0.2%, to 10,678.66. Turnover was $143.9 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/nz-shares-fall-as-eroad-near-all-time-low)
2022-06-22T17:00:00Z	**Whangarei council liable for punitive $5.1m damages**
A wrongly filed resource consent has led to the Whangarei district council being liable for at least $5.1 million for economic damages and costs to a landowner, the high court in Whangarei has ruled.

The June 10 ruling from Justice Christopher Toogood included a $50,000 award for exemplary damages for the council’s misfeasance in public office [failure to discharge its obligations] over landowner Malcolm James Daisle ... ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/whangarei-council-liable-for-punitive-51m-damages)
2022-06-22T17:00:00Z	**RIP good times: Tech’s chance to build back better**
In 2008, as Lehman Brothers was collapsing and share prices plummeted, the legendary venture capital firm Sequoia Capital held a presentation for the startup founders it had invested in.

The now infamous [“RIP good times” slide deck](https://www.dropbox.com/s/5db0iwb57zls7k7/RIP%20Good%20times.pdf?dl=0) outlined the carnage subprime mortgages and frozen credit markets had created. It was a set of circumstances very specific t ... ⌘ [Read more](https://businessdesk.co.nz/article/opinion/rip-good-times-techs-chance-to-build-back-better)
2022-06-22T17:00:00Z	**Mormons & their money: more temples, fewer believers**
The Mormon church boasts $424 million in assets, making it NZ’s third wealthiest centralised religious group and 20th richest charity.

Even the nation’s prime minister, Jacinda Ardern, is a former member, with her uncle Ian in charge of the church in New Zealand, Australia and the Pacific Islands. ⌘ [Read more](https://businessdesk.co.nz/article/full-page/mormons-their-money-more-temples-fewer-believers)
2022-06-22T17:00:00Z	**Anna Stuck steps out of Rod Drury's shadow with $35m charity**
New charity the Clare Foundation is flush with $35 million in cash from its founder Anna Stuck.

It plans to make as big a splash as possible by giving it all away in as little as a decade. ⌘ [Read more](https://businessdesk.co.nz/article/charities/anna-stuck-steps-out-of-rod-drurys-shadow-with-35m-charity)
2022-06-22T18:00:00Z	**Fair pay agreements inconsistent with Bill of Rights, says expert**
MPs hearing submissions on the fair pay agreements (FPA) bill have been told the government was given faulty advice on the bill’s consistency with the Bill of Rights Act (BORA).

Business NZ chief executive Kirk Hope has tabled an opinion written by public law expert Andrew Butler, who was cited in advice written by the Ministry of Justice for the attorney general. ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/fair-pay-agreements-inconsistent-with-bill-of-rights-says-expert)
2022-06-22T18:00:00Z	**Fletcher to deliver at least $850m operating earnings in 2023**
Fletcher Building is expecting to deliver at least $100 million additional earnings before interest and tax (Ebit) in the year ending June 2023 on top of the $750m it expects to deliver in the year ending this month.

But at the company’s investor day, chief executive Ross Taylor has modified his target of achieving Ebit margins of 10% by the 2023 financial year to achieving margins between 9% and ... ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/fletcher-to-deliver-at-least-850m-operating-earnings-in-2023)
2022-06-22T18:00:00Z	**Court throws out legal challenge to electricity transmission pricing**
A high court judge has dismissed a legal challenge to contentious reforms of how electricity transmission costs are divided up.

Justice Matthew Palmer said the judicial review application led by Manawa Energy (formerly Trustpower) was without merit, clearing a hurdle for a decade-long process to be completed after years of debate, dispute and litigation. ⌘ [Read more](https://businessdesk.co.nz/article/energy/court-throws-out-legal-challenge-to-electricity-transmission-pricing)
2022-06-22T21:15:00Z	**QuiznessDesk, Thursday, June 23, 2022**
02. What 1982 fantasy movie featured creatures called Gelflings and Skeksis?
03. What inner suburb of London gave its name to a style of boot and a type of bun?
04. Freddie Barkis, Betsey Trotwood and Clara Peggotty were characters in which Charles Dickens' novel?
05. What city’s airport is located near a rural township called Momona?
06. In which decade were Sigourney Weaver, Billy Joel and Meryl Streep born?
07. Their first names were Richard and Osc ... ⌘ [Read more](https://businessdesk.co.nz/article/the-quiz/quiznessdesk-thursday-june-23-2022)
2022-06-22T21:20:00Z	**Fonterra lifts payout forecast, Wickham leaving after 34 years**
Fonterra lifted its forecast payout for the current season, gave strong earnings guidance and said Kelvin Wickham is stepping away from the co-operative after more than 34 years.

It lifted the 2022-23 forecast farmgate milk price range to $8.75-$10.25 per kilogram of milk solids (kgMS) from $8.25-$9.75/kgMS. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/fonterra-lifts-payout-forecast-wickham-leaving-after-34-years)
2022-06-22T22:00:00Z	**Investment platform Stake brings stock lending to NZ**
Digital brokerage Stake will pay its users to lend out their shares to institutional investors in a new feature being added to the platform in early July.

Users will be able to earn passive income on their United States stocks by allowing Stake to lend those securities out to other investors in return for a 20% cut of the borrowing fee. ⌘ [Read more](https://businessdesk.co.nz/article/markets/investment-platform-stake-brings-stock-lending-to-nz)
2022-06-22T23:45:00Z	**Bubs steams ahead, A2 Milk & Fonterra waiting for FDA approval**
Fonterra and A2 Milk are still awaiting a green light from the US Food and Drug Administration (FDA) to provide baby formula, while Bubs Australia is sending another two shipments stateside as part of Operation Fly Formula.

Last month, the FDA announced it was easing import restrictions to mitigate a massive shortage of infant formula in the US due to supply chain issues and a recall by Abbot Nut ... ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/bubs-steams-ahead-a2-milk-fonterra-waiting-for-fda-approval)
2022-06-23T02:00:02Z	**Community trust seeks to sell its Tairāwhiti electricity lines company**
Community trust-owned Eastland Group has decided to sell its electricity lines business, Eastland Network, to free up cash to diversify its asset base and increase its renewable generation portfolio.

The sole shareholder of Eastland Group is Trust Tairāwhiti. It was set following the electricity reforms in the early 1990s when the majority of Tairāwhiti residents supported the then $20 ... ⌘ [Read more](https://businessdesk.co.nz/article/energy/community-trust-seeks-to-sell-its-tairawhiti-electricity-lines-company)
2022-06-23T03:15:00Z	**How we can fix New Zealand's ports – Don Braid**
Mainfreight chief executive Don Braid says New Zealand needs to slash the number of its container ports to a ‘maximum’ of three to avoid being side-lined by major shippers.

The 18-year veteran CEO of the NZX-listed multinational logistics company told a supply chain forum in Auckland on Wednesday that container cranes sitting at most of the country’s 13 ports was a “waste of assets and inefficient", particularly given that the  ... ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/how-we-can-fix-new-zealands-ports-don-braid)
2022-06-23T05:40:00Z	**Index heavyweights pull NZ shares higher**
New Zealand's benchmark index rose on Thursday – the day before NZ celebrates Matariki as a public holiday for the first time – thanks to index heavyweights pulling the market higher.

The S&P/NZX 50 Index rose 135.2 points or 1.27% to 10,813.92. Turnover was $109.6 million and 55 stocks fell while 87 stocks rose. ⌘ [Read more](https://businessdesk.co.nz/article/markets/index-heavyweights-pull-nz-shares-higher)
2022-06-23T05:48:10Z	**RNZ and TVNZ to become Aotearoa NZ Public Media**
Radio New Zealand and TVNZ will become subsidiaries of Aotearoa New Zealand Public Media as the two groups combine under the new state broadcast entity.

The new name was revealed as legislation to merge the two groups is scheduled to face its first vote on June 28. ⌘ [Read more](https://businessdesk.co.nz/article/media/rnz-and-tvnz-to-become-aotearoa-nz-public-media)
2022-06-23T17:00:00Z	**How to survive a bear market**
It’s too late to sell and too early to buy, or at least that’s how one stockbroker characterised financial markets at the start of this week.

Most benchmark equity indices are in what is called a ‘bear market’, which is defined as a 20% decline from a recent peak but is used to talk about an extended market downturn. ⌘ [Read more](https://businessdesk.co.nz/article/markets/how-to-survive-a-bear-market)
2022-06-23T17:00:00Z	**Rising costs take the shine off high milk payout**
Fonterra expects to pay its farmers more than ever but rising costs will take the shine off the record-high payout.

The dairy giant this week lifted the 2022-23 forecast farmgate milk price range to $8.75-$10.25 per kilogram of milk solids (kgMS) from $8.25-$9.75/kgMS. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/rising-costs-take-the-shine-off-high-milk-payout)
2022-06-23T17:00:00Z	**Convicted businessman seeking solid evidence from charities**
A prominent businessman convicted of indecent assault last year had a right to solid evidence on how two wealthy charities were impacted by their association with him, the high court in Auckland heard on Thursday.

The two charitable trusts are together worth more than $30 million. They are attempting to disassociate from the businessman, whose name remains on the trusts’ titles. ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/convicted-businessman-seeking-solid-evidence-from-charities)
2022-06-23T17:00:00Z	**How to respond to the recession ahead for NZ**
A recession looks to be around the corner.

There will be some positives from it, as well as destruction. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/how-to-respond-to-the-recession-ahead-for-nz)
2022-06-23T18:00:00Z	**Xi JinPing reaffirms growth target that analysts say is out of reach**
Chinese President Xi Jinping pledged to meet economic targets for the year even as the government’s zero-tolerance approach to combating covid outbreaks and a weak housing market put the growth goal further out of reach.

In a keynote speech to a virtual BRICS Business Forum on Wednesday, Xi said China will “strengthen macro-policy adjustment and adopt more effective measures to strive t ... ⌘ [Read more](https://businessdesk.co.nz/article/bloomberg/xi-jinping-reaffirms-growth-target-that-analysts-say-is-out-of-reach)
2022-06-23T18:00:00Z	**Power emergency shows the system is working**
The avoidance of an electricity shortage on Thursday highlights some strengths and weaknesses with the system, as well as heightened sensitivities about the fear of blackouts.

A “grid emergency notice” was issued by the system operator Transpower after three unexpected outages hit supply as people woke up to very cold weather and turned their appliances on. ⌘ [Read more](https://businessdesk.co.nz/article/energy/power-emergency-shows-the-system-is-working)
2022-06-23T21:15:00Z	**QuiznessDesk, Friday, June 24, 2022**
02. Which Māori chief composed the haka known as Ka Mate?
03. What is the English name (though of Greek origin) for the star cluster known to Māori as Matariki?
04. Which provincial city has the Māori name Ahuriri?
05. According to Māori legend, what type of sea creature did Kupe pursue all the way from his Hawaiki homeland to New Zealand?
06. Who was NZ’s first Māori governor-general?
07. NZ has a shorter human history than any other country – true or fal ... ⌘ [Read more](https://businessdesk.co.nz/article/the-quiz/quiznessdesk-friday-june-24-2022)
2022-06-24T00:00:52Z	**Business of Sport: Oz netball’s sorry saga**
Oh, the irony. Rugby Australia (RA) fired its shot at its Kiwi counterparts last week and within 24 hours came a salient lesson on what’s at stake if the Ockers get it wrong.

The [threat from RA chair Hamish McLennan](https://www.foxsports.com.au/rugby/wallabies/australian-rugby-news-2022-rugby-australia-tell-new-zealand-rugby-they-are-ending-super-rugby-partnership-hamish-mclennan-wallabies-all-blacks/news-story/ded39a5234fd6b5578cb72c14760a6 ... ⌘ [Read more](https://businessdesk.co.nz/article/sport/business-of-sport-oz-netballs-sorry-saga)
2022-06-24T17:00:00Z	**The eyes have it**
The numbers are stunning. In some parts of East Asia – think Hong Kong, South Korea, Taiwan and parts of China – more than 80% of school-leavers need glasses to see properly.

Fifty years ago, the share was 25% or less. The problem is less acute in Europe and the Americas, but even there the best numbers we have suggest that between 20% and 40% of young adults need their vision corrected. That is roughly an order of magnitude higher than what scientists think is the “natural” rate of myopia.
 ... ⌘ [Read more](https://businessdesk.co.nz/article/health/the-eyes-have-it)
2022-06-24T17:00:00Z	**On the Money: Don Braid, Fletcher, Steve Newman and more**
**Photo op**

With some rather breathless [reporting](https://www.stuff.co.nz/national/politics/128962631/cash-for-access-the-price-tag-to-schmooze-new-zealands-political-leaders) flying around at the moment about “cash for access” events that put businesspeople in the same room as politicians for a fee, it’s almost heartening that some corporates see so little harm in it that they publicise their attendance. ⌘ [Read more](https://businessdesk.co.nz/article/on-the-money/on-the-money-don-braid-fletcher-steve-newman-and-more)
2022-06-24T18:00:00Z	**Inside Dali: a (kind of) immersive art experience**
Last week, I was fortunate enough to be invited to the Inside Dali exhibition at Spark Arena.

I’ve long admired Salvador Dali’s works, although I am far from a fine art connoisseur. ⌘ [Read more](https://businessdesk.co.nz/article/the-life/inside-dali-a-kind-of-immersive-art-experience)
2022-06-24T18:00:00Z	**Money Answers: how much mortgage can I actually afford?**
**BusinessDesk's investment editor, Frances Cook, responds to readers' emails on a weekly basis to answer various questions about money. Below you'll find her expert advice on a subject she's extremely passionate about.**

Hi Frances, ⌘ [Read more](https://businessdesk.co.nz/article/property/money-answers-how-much-mortgage-can-i-actually-afford)
2022-06-25T17:00:00Z	**My Net Worth: Kirsten Patterson, CEO of the Institute of Directors**
Welcome to My Net Worth, our regular column on the lives and motivations of our country’s top business, legal and political people in their own words.

Kirsten Patterson has had extensive governance and leadership experience since she graduated with a law degree. ⌘ [Read more](https://businessdesk.co.nz/article/the-life/my-net-worth-kirsten-patterson-ceo-of-the-institute-of-directors)
2022-06-25T17:00:00Z	**The most exciting EVs coming to NZ this year**
Probably don’t buy a car right now. There are so many incredible vehicles just around the corner that you wouldn’t want to miss out. Plus, no one has any stock.

Here’s my pick of the electric vehicles coming out before the end of the year. ⌘ [Read more](https://businessdesk.co.nz/article/the-life/the-most-exciting-evs-coming-to-nz-this-year)
2022-06-25T17:00:00Z	**The $100 Club: A wine rich list**
Every few years, I compile a list of New Zealand wines with a price tag of $100 or more that I’ve tasted in the past five years. I include the latest vintage of each wine brand.

In 2013, there were just 27 wines. ⌘ [Read more](https://businessdesk.co.nz/article/wine/the-100-club-a-wine-rich-list)
2022-06-25T18:00:00Z	**How attractively are shares now priced?**
Everyone knows, or thinks they know, the advice of Warren Buffett to investors: that “they should try to be fearful when others are greedy, and greedy when others are fearful.”

After a week in which share prices in America plunged firmly into bear-market territory (defined as a fall of 20%-plus from a recent peak), some will be starting to wonder whether there is enough fear in the air to warrant their being greedy. ⌘ [Read more](https://businessdesk.co.nz/article/the-economist/how-attractively-are-shares-now-priced)
2022-06-25T18:00:00Z	**Connoisseur's Corner: where to eat and drink in July**
There’s been a lot of unpredictable wild weather in recent weeks. Luckily, there are plenty of local food and beverage offerings to distract you from the wind and rain.

### Filipino fare

Carlo Buenaventura’s restaurant Bar Magda is the perfect place to escape from whatever the weather’s doing in Auckland and enjoy modern food from the Philippines. Tucked away downstairs in Cross Street, near Karangahape Road, it’s a c ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/connoisseurs-corner-where-to-eat-and-drink-in-july-1)
2022-06-26T17:00:00Z	**HealthNow: the startup using buy now, pay later for social good**
For all its faults, buy now, pay later (BNPL) has become an accepted payment method used by massive numbers of people across the globe.

As with all technological advancements, indiscriminate use without proper legislation can cause problems, but applying new tech thoughtfully can offer real benefits. ⌘ [Read more](https://businessdesk.co.nz/article/technology/healthnow-the-startup-using-buy-now-pay-later-for-social-good)
2022-06-26T17:00:00Z	**Damien O’Connor’s wilful blindness in his Fonterra about-face**
Why did agriculture minister Damien O’Connor change his mind about Fonterra’s restructuring?

It’s been a remarkable about-face. Ahead of the vote by farmers last December, O’Connor showed he well understood why the restructuring is so fatally flawed. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/damien-oconnors-wilful-blindness-in-his-fonterra-about-face)
2022-06-26T18:00:00Z	**Six year wait for three waters reforms far too long, says Scottish expert**
New Zealand will lose benefits of reform if it waits until 2030 to impose economic regulation on the country’s new three waters entities, says the principal international adviser on the controversial amalgamation of drinking, waste and stormwater services into four countrywide entities.

The cabinet has yet to decide on a timetable, but current proposals contemplate a six-y ... ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/six-year-wait-for-three-waters-reforms-far-too-long-says-scottish-expert)
2022-06-26T18:00:00Z	**Fletcher wowed analysts at last week’s investor day**
At least five of the analysts who attended Fletcher Building’s investor day last week came away with some favourable impressions and have upbeat recommendations on the stock.

Rohan Koreman-Smit at Forsyth Barr raised his forecasts for earnings before interest and tax (Ebit) in the year ending this month and next year and retained his “outperform” investment outlook, even though he’s lowered his 12-month target price by 55  ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/fletcher-wowed-analysts-at-last-weeks-investor-day)
2022-06-26T18:00:00Z	**Cooking the Books: why is everything so expensive?**
**Each week BusinessDesk and the NZ Herald's Cooking the Books podcast tackles a different money problem. Today, it's what's behind the soaring cost of living, and what you can do about it. Hosted by Frances Cook.** ⌘ [Read more](https://businessdesk.co.nz/article/podcasts/cooking-the-books-why-is-everything-so-expensive)
2022-06-26T18:00:00Z	**Computershare wants to help directors with new governance secretarial services**
Australian stock transfer company Computershare has set up a new management division to support NZX and dual-listed NZX/ASX companies and give directors one less thing to worry about at night.

The new division has come about after 18 months of research in New Zealand and will offer secretarial support for all the governance and stakeholder management obligations tha ... ⌘ [Read more](https://businessdesk.co.nz/article/technology/computershare-wants-to-help-directors-with-new-governance-secretarial-services)
2022-06-26T21:15:00Z	**QuiznessDesk, Monday, June 27, 2022**
02. What deep-fried chicken dish took its name from the city in New York State where it originated?
03. In Britain, who are Rishi Sunak, Priti Patel, Sajid Javid and Kwasi Kartweng?
04. What are the three main towns in the King Country?
05. What famous institution was established in the town of Cambridge, Massachusetts, in 1636?
06. What word of Latin origin means a large garden or park planted in a variety of specimen trees?
07. Count von Count, Meryl She ... ⌘ [Read more](https://businessdesk.co.nz/article/the-quiz/quiznessdesk-monday-june-27-2022)
2022-06-26T21:30:32Z	**Nathan Guy new chair of Meat Industry Association**
Former primary industries minister Nathan Guy has been appointed as the new chair of the Meat Industry Association (MIA) following the retirement of the current chair, John Loughlin, from the role.

The MIA is a trade association representing the country’s red meat processors, marketers, and exporters. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/nathan-guy-new-chair-of-meat-industry-association)
2022-06-26T23:43:18Z	**China’s Economy Improves in June From Lockdown-Induced Slump**
China’s economy showed some improvement in June as covid restrictions were gradually eased, although the recovery remains muted.

That’s the outlook based on Bloomberg’s aggregate index of eight early indicators for this month. The overall gauge returned to the neutral level after deteriorating for two straight months. ⌘ [Read more](https://businessdesk.co.nz/article/bloomberg/chinas-economy-improves-in-june-from-lockdown-induced-slump)
2022-06-27T00:00:00Z	**NATO holds its most important summit in generations**
When NATO published its “strategic concept” – a sort of vision statement – in 2010, things were looking good.

“Today the Euro-Atlantic area is at peace and the threat of a conventional attack against NATO territory is low,” it declared. “We want to see a true strategic partnership between NATO and Russia.” ⌘ [Read more](https://businessdesk.co.nz/article/the-economist/nato-holds-its-most-important-summit-in-generations)
2022-06-27T02:30:00Z	**House prices braced for a storm**
Stocks are sinking, a cost-of-living crisis is in full swing and the spectre of global recession looms. But you wouldn’t know it by looking at the rich world’s housing markets, many of which continue to break records.

Homes in America and Britain are selling faster than ever. ⌘ [Read more](https://businessdesk.co.nz/article/the-economist/house-prices-braced-for-a-storm)
2022-06-27T02:45:00Z	**Public class action fund needed: Law Com**
The Law Commission has suggested a public class action fund as part of reforms into how [class actions](https://businessdesk.co.nz/article/opinion/class-actions-the-next-frontier) are run and funded in New Zealand.

In its final report on class actions and litigation funding, the commission also [recommended](https://www.lawcom.govt.nz/our-projects/class-actions-and-litigation-funding) a new Class Actions Act to govern what has been a hap ... ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/public-class-action-fund-needed-law-com)
2022-06-27T03:30:00Z	**Political donations over $5k to require declaration**
Justice minister Kiri Allan announced changes to the electoral law to increase transparency of political donations and loans.

The changes require disclosure of donor identities for any party donations over $5,000; the number and total value of party donations under $1,500 not made anonymously; the proportion of total party donations that are in-kind (non-monetary) donations; and loans to candidates from unregistered lenders ... ⌘ [Read more](https://businessdesk.co.nz/article/policy/political-donations-over-5k-to-require-declaration)
2022-06-27T05:41:26Z	**NZ sharemarket rebounds with Wall Street rally**
New Zealand shares bounced on Monday, following a rebound on Wall Street over the weekend on the expectation that interest rates wouldn’t go as high as some had thought.

The S&P/NZX 50 Index rose 184 points, or 1.7%, to 10,997.92. Turnover was $113.4 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/nz-sharemarket-rebounds-with-wall-street-rally)
2022-06-27T17:00:00Z	**How stable is the resurgent air travel demand?**
The gathering of airline leaders in Doha last week, for the 78th International Air Transport Association (IATA) annual general meeting, was notable for its mix of opinions on post-covid recovery.

The fact that there is continuing strong growth in international air travel is accepted and recognised by most. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/how-stable-is-the-resurgent-air-travel-demand)
2022-06-27T17:00:00Z	**King Salmon to close three farms in Pelorus Sound**
High summer water temperatures are forcing New King Salmon to close three of its four fish farms in Pelorus Sound, although it hopes to reopen them as hatcheries in the future for a planned cooler water farm in Cook Strait.

At its annual meeting in Picton, chaired by independent director Paul Steere in the absence of chair John Ryder, the company acknowledged its “bitter disappointment” at losing a quarter of last year ... ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/king-salmon-to-close-three-farms-in-pelorus-sound)
2022-06-27T17:00:00Z	**Carbonz wants to be the Sharesies of carbon credits**
A carbon trading platform that will do for carbon credits what Sharesies did for shares is launching today, along with a new voluntary carbon credit scheme.

The country’s first voluntary carbon credit marketplace – [Carbonz](https://www.carbonz.io/) – will trade in Native CarbonCrop Units (NCUs) produced by CarbonCrop. ⌘ [Read more](https://businessdesk.co.nz/article/markets/carbonz-wants-to-be-the-sharesies-of-carbon-credits)
2022-06-27T17:00:00Z	**ImpactLab CEO is on a mission to help charities do good, better**
**From an office in Wellington, a company co-founded by a former prime minister is using big data to work out the social value of charitable interventions.**

Time is on the x-axis; on the y-axis is wellbeing. ⌘ [Read more](https://businessdesk.co.nz/article/charities/impactlab-ceo-is-on-a-mission-to-help-charities-do-good-better)
2022-06-27T18:00:00Z	**Kāinga Ora presses pause on recruitment**
Soaring building costs and supply chain delays have prompted Kāinga Ora to impose a hiring pause, according to a leaked internal memo seen by BusinessDesk.

The memo, from chief executive Andrew McKenzie, said the organisation would have to look at which new roles could be deferred without negative impacts. ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/kainga-ora-presses-pause-on-recruitment)
2022-06-27T18:00:00Z	**Investors need to think green to survive in the sustainable finance space**
In the face of an ever-looming climate crisis, New Zealand’s sustainable finance and investment sectors are starting to move in a greener direction.

But experts say investors need to accept that their return in the sustainable finance space is environmental as well as financial – and with that comes a whole new approach. ⌘ [Read more](https://businessdesk.co.nz/article/finance/investors-need-to-think-green-to-survive-in-the-sustainable-finance-space)
2022-06-27T21:15:00Z	**QuiznessDesk, Tuesday, June 28, 2022**
02. What classic spaghetti Western movie had the Italian title Il Buono, Il Brutto, Il Cattivo?
03. What are the Javelin and the Stinger?
04. Her first name was Isabella and she wrote a famous 19th-century cookbook called the Book of Household Management. What was her surname?
05. Which Shakespearean tragedy features a character named Ophelia?
06. What popular alcoholic drink originated in the Netherlands under the name jenever?
07. Red Rascal, Summer De ... ⌘ [Read more](https://businessdesk.co.nz/article/the-quiz/quiznessdesk-tuesday-june-28-2022)
2022-06-27T23:15:00Z	**Supreme court rules Family First isn't a charity**
Family First, a conservative group founded to champion traditional families, is not eligible to be a registered charity, the supreme court has ruled.

The decision, a major development in the case law surrounding charities in New Zealand, brings to an end an almost decade-long battle for the group to be registered under the Charities Act, a status which comes with tax benefits. ⌘ [Read more](https://businessdesk.co.nz/article/charities/supreme-court-rules-family-first-isnt-a-charity)
2022-06-28T01:00:47Z	**Another blackouts review says generators acted properly**
The electricity sector regulator has formally ruled that Genesis and Contact Energy did nothing wrong in the events that caused the electricity blackouts on Aug 9 last year.

One of the last in a series of reviews and inquiries into what caused the blackouts in thousands of homes on one of the coldest nights of the year was on whether there was an “undesirable trading situation (UTS)” under the Electricity Authority ... ⌘ [Read more](https://businessdesk.co.nz/article/energy/another-blackouts-review-says-generators-acted-properly)
2022-06-28T01:53:08Z	**Ransomware attacks: what can you do to avoid them?**
Ransomware attacks are on the rise, with an independent survey from Aura Information Security reporting more than half of New Zealand businesses may have been successfully targeted by a ransomware attack in 2021.

Amy Agnew, owner of IT company Belton, said paying a ransom is never recommended as it is costly and more importantly, there is no guarantee data will come back. ⌘ [Read more](https://businessdesk.co.nz/sponsored/ransomware-attacks-what-can-you-do-to-avoid-them)
2022-06-28T03:45:00Z	**How New Zealanders are fighting the soaring cost of living**
Even the comfortable among us are feeling the pain in the back pocket lately.

Mortgage rates and rents are up, food prices are soaring and petrol seems to get more expensive by the day. ⌘ [Read more](https://businessdesk.co.nz/article/economy/how-new-zealanders-are-fighting-the-soaring-cost-of-living)
2022-06-28T04:15:00Z	**Cannasouth won't rule out a capital raise**
Medicinal cannabis company Cannasouth wouldn’t rule out a capital raise in the next year but was full of metaphors about its future at its annual meeting this morning.

About 100 shareholders gathered in person in Auckland and online for the company’s AGM today, where the medicinal cannabis company was questioned on when cash was going to start coming in and what the directors were planning to do with the company next. ⌘ [Read more](https://businessdesk.co.nz/article/health/cannasouth-wont-rule-out-a-capital-raise)
2022-06-28T05:35:48Z	**Sleepy day for NZ shares**
Lethargy seeped into New Zealand’s benchmark index today following global markets lacking energy overnight – but shares still managed to push the local index up by the end of the day.

ASB senior economist Mike Jones said in a morning note that it had been a “fairly listless overnight session” for international markets – with little movement in foreign exchange markets either. ⌘ [Read more](https://businessdesk.co.nz/article/markets/sleepy-day-for-nz-shares)
2022-06-28T17:00:00Z	**Not number one: banks can’t get no (KiwiSaver) satisfaction**
“A new survey has revealed that New Zealanders prefer to invest in KiwiSaver funds that are not operated by major banks,” some media outlet reported in the wake of the latest Consumer NZ poll of the sector.

This is funny because about two-thirds of the 3 million-plus scheme members invest in KiwiSaver schemes operated by major banks. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/not-number-one-banks-cant-get-no-kiwisaver-satisfaction)
2022-06-28T17:00:00Z	**Tobacco tax wrangle nets NZ taxpayer $70.6m from British exchequer**
A five-year negotiation over where tax on tobacco product sales should be paid has resulted in a $70.6 million gain for New Zealand taxpayers at the expense of British taxpayers.

The “prior period adjustment” shows up in the accounts of BAT Holdings (NZ) Ltd, the local arm of the global tobacco giant British and American Tobacco (BAT) for the year to Dec 31, which were filed with the Companies  ... ⌘ [Read more](https://businessdesk.co.nz/article/finance/tobacco-tax-wrangle-nets-nz-taxpayer-706m-from-british-exchequer)
2022-06-28T17:00:00Z	**How to avoid greenwashing in your ads**
Be very, very careful. Greenwashing – or falsely saying your products meet environmental, social and governance (ESG) standards – is under the microscope right now.

It’s a key enforcement focus of the Financial Markets Authority (FMA), the NZ Stock Exchange (NZX) and regulators worldwide, including the tough Australian corporate watchdogs, the Securities and Investments Commission (ASIC), the Australian Prudential Regulation Authority (APRA) ... ⌘ [Read more](https://businessdesk.co.nz/article/business-advice/how-to-avoid-greenwashing-in-your-ads)
2022-06-28T17:00:00Z	**Govt signs off on treating Fonterra fund investors badly**
One aspect of the government’s decision to sign off on Fonterra’s capital restructuring that is particularly obnoxious is its endorsement of the dairy giant mistreating investors in the Fonterra Shareholders Fund.

The misnamed fund is the bit of Fonterra that non-farmers can own, although farmers and former farmers do own about 56% of it – about 70% of the fund’s investors are retail investors, counting those fa ... ⌘ [Read more](https://businessdesk.co.nz/article/opinion/govt-signs-off-on-treating-fonterra-fund-investors-badly)
2022-06-28T17:00:00Z	**Mormon church sued over land covenants**
The Mormon church is being taken to the Human Rights Tribunal over a claim that its use of covenants on properties in Hamilton is discriminatory.

The four-day hearing will begin on November 28 after being postponed during the 2021 lockdown. ⌘ [Read more](https://businessdesk.co.nz/article/charities/mormon-church-sued-over-land-covenants)
2022-06-28T17:00:00Z	**Featured charity: The Starship Foundation**
When Aisha Daji Punga became chief executive of the Starship Foundation in 2018, she pointed out that New Zealand was ranked in the bottom third of developed countries for overall child health and wellbeing.

In the four years since then, the foundation has been busy. It almost doubled its fundraising to $20.6 million in the December 2020 financial year, from $11.8m in the 2019 financial year. It had raised $12.3m in 2018. ⌘ [Read more](https://businessdesk.co.nz/article/charities/featured-charity-the-starship-foundation)
2022-06-28T18:00:00Z	**Nearly a third of NZ adults fall victim to crime**
About 1.2 million or 29% of New Zealanders over the age of 15 were the victims of one or more crimes between November 2020 and November 2021, and only 25% of crimes are reported to the police.

Of the 1.7m offences, about 68% were personal and 32% were household, according to the latest NZ Crime and Victims Survey (NZCVS). ⌘ [Read more](https://businessdesk.co.nz/article/policy/nearly-a-third-of-nz-adults-fall-victim-to-crime)
2022-06-28T18:00:00Z	**Air NZ gets set for post-pandemic competition with cabin refit**
This week Air New Zealand unveiled its new cabin design aimed at helping passengers sleep and protect its brand identity as the best possible way to travel to Aotearoa.

The new design – which is the first full overhaul in 20 years – is heavily focused on three things: sleep, identity, and sustainability. ⌘ [Read more](https://businessdesk.co.nz/article/markets/air-nz-gets-set-for-post-pandemic-competition-with-cabin-refit)
2022-06-28T21:15:00Z	**QuiznessDesk, Wednesday, June 29, 2022**
02. On a map of New Zealand, what word follows Mercury, Doubtless and Mairangi?
03. What three countries are known as the Baltic States?
04. If a xenophobe is someone who’s frightened by foreigners, what is the term for a person who is attracted to them?
05. What does the H stand for in the initials ADHD?
06. What German composer was Adolf Hitler’s favourite and became associated with Nazism?
07. The stargazer fish is commonly marketed under what nam ... ⌘ [Read more](https://businessdesk.co.nz/article/the-quiz/quiznessdesk-wednesday-june-29-2022)
2022-06-28T21:35:17Z	**Greenfern Industries scores new $1.6m agreement**
South Taranaki-based medicinal cannabis company Greenfern Industries has announced it has secured an agreement to supply its Taranaki-grown medicinal cannabis with an initial two-year binding offtake order for its product.

The medicinal cannabis company told the NZX on Tuesday that the product was going to be used in an “overseas medicinal market” and, depending on which chemotypes were supplied, the agreement could be worth $1.6 mi ... ⌘ [Read more](https://businessdesk.co.nz/article/health/greenfern-industries-scores-new-16m-agreement)
2022-06-28T22:45:00Z	**Government backs tunnels, trams in $6.4b Wellington transport plan**
The government is backing a $6.4 billion package of options to improve public transport, traffic flows and urban density under the long-stalled Let’s Get Wellington Moving (LGWM) initiative.

It was started eight years ago in 2014 and updated with fanfare three years ago, but today’s announcement by the transport and finance ministers, Michael Wood and Grant Robertson, still requires sign-off f ... ⌘ [Read more](https://businessdesk.co.nz/article/transport/government-backs-tunnels-trams-in-64b-wellington-transport-plan)
2022-06-29T00:35:40Z	**Aussie IT company launches global payment services**
An Australian financial platform hopes the launch of its global payment services in New Zealand will support local businesses to expand into international markets.

Airwallex, which offers IT service management services and operates across North America, Europe and Asia-Pacific, wants to drive business growth in the Australasian region. ⌘ [Read more](https://businessdesk.co.nz/article/technology/aussie-it-company-launches-global-payment-services)
2022-06-29T01:39:10Z	**Kiwi chair Mark Ford says property values may fall 5-10%**
Kiwi Property chair Mark Ford was expecting questions about the company’s flagging share price so he got in first by assuring shareholders at the annual meeting that “management and the board are very cognisant of the low share price”.

The shares were trading at 99 cents as the meeting got under way, well down from the net tangible assets (NTA) per share at March 31 of $1.45, although off the low earlier t ... ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/kiwi-chair-mark-ford-says-property-values-may-fall-5-10)
2022-06-29T02:39:50Z	**Kitchenware company is changing the game**
The Ironclad Co. has become a disruptor in the kitchenware industry, which has been lacking in innovation and largely dominated by cheap imports and disposable products.

The future-focused business offers the only cast iron cookware manufactured in New Zealand. ⌘ [Read more](https://businessdesk.co.nz/sponsored/kitchenware-company-is-changing-the-game)
2022-06-29T04:24:46Z	**Donald Trump Steers Himself into a Legal Morass**
By Jonathan Bernstein

(Opinion) -- We’ve run out of words to describe the magnitude of the evidence unearthed by the House Jan 6 committee, or the enormity of what former US president Donald Trump was responsible for in the period between the 2020 election and when he left office. ⌘ [Read more](https://businessdesk.co.nz/article/bloomberg/donald-trump-steers-himself-into-a-legal-morass)
2022-06-29T05:50:13Z	**NZ shares fall as market rally evaporates**
New Zealand's headline share index fell on Wednesday as a global equity rally that started the week lost momentum with investors unwilling to bid up stocks ahead of an economic slowdown.

The S&P/NZX 50 Index fell 60 points, or half a percent, to 10,958.81 Turnover was $112 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/nz-shares-fall-as-market-rally-evaporates)
2022-06-29T17:00:49Z	**BusinessDesk owner NZME hits 100,000 digital subscriptions**
Media company NZME has reached a milestone of 100,000 digital subscriptions, driven partly by its acquisition of BusinessDesk.

The publicly-listed company, which owns the NZ Herald, made the announcement on the NZX website on Wednesday. ⌘ [Read more](https://businessdesk.co.nz/article/markets/businessdesk-owner-nzme-hits-100000-digital-subscriptions)
2022-06-29T17:00:00Z	**Wages paid by small businesses rose 5.3% in year ended May**
Wages paid by small businesses rose 5.3% in May from a year earlier, while the number of jobs they provided rose 4.1% in May after a 2.4% increase in April, according to accounting firm Xero's customer data.

Xero NZ director of business growth Charlie Nicholls said the data showed small businesses were successfully competing with larger corporations for talent. ⌘ [Read more](https://businessdesk.co.nz/article/economy/wages-paid-by-small-businesses-rose-53-in-year-ended-may)
2022-06-29T17:00:00Z	**High power prices in NZ – what's the 'new normal'?**
Despite healthy hydro lake levels and a return to reasonable gas supply, wholesale electricity prices are still well above historical averages, with one sector analyst saying the high international coal prices are driving the market up and may do so for some time.

Recent heavy rain events have pushed hydro levels up to near normal after a dry spell at the beginning of the year. ⌘ [Read more](https://businessdesk.co.nz/article/energy/high-power-prices-in-nz-whats-the-new-normal)
2022-06-29T17:00:00Z	**Big Tech can’t stay neutral on abortion**
In Margaret Atwood’s dystopian novel, The Handmaid’s Tale, the state of Gilead is portrayed as almost Luddite-like in its approach to technology.

But, as with any good authoritarian regime, the rulers of the former United States of America maintain their own high-tech tools to stay in control, from the “Computalk” that sits on each commander’s desk to the “Identipass” handmaids need to pass through security checkpoints. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/big-tech-cant-stay-neutral-on-abortion)
2022-06-29T17:00:00Z	**Nestlé Health Science to acquire NZ honey and health product group**
Swiss company Nestlé Health Science will take full control of honey and health products manufacturer, The Better Health Company, and its operations.

The New Zealand company was incorporated in 2014, according to the NZ Companies Register, and employs around 270 staff across its businesses. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/nestle-health-science-to-acquire-nz-honey-and-health-product-group)
2022-06-29T18:00:00Z	**Fair pay agreements top priority for government**
Passing the Fair Pay Agreements (FPA) Bill is the government’s top legislative priority and will help to boost economic productivity, says workplace relations minister, Michael Wood.

Wood fended off concerns raised by Parliament’s education and workforce committee on Wednesday, saying that he expected the bill to become law by October or November and there was funding for up to six FPA processes to run each year. ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/fair-pay-agreements-top-priority-for-government)
2022-06-29T18:00:00Z	**Discovery NZ slumps to $34m loss in 2021**
Discovery New Zealand Limited, the owner of Three and Newshub, fell to a $34 million loss in 2021, according to newly-filed accounts.

The broadcaster, part of US giant Warner Bros. Discovery, recorded the heavy loss after racking up a larger wage bill and paying an $8.2m service fee to its parent company, the accounts show. Discovery NZ made a $10.2m profit in 2020. ⌘ [Read more](https://businessdesk.co.nz/article/media/discovery-nz-slumps-to-34m-loss-in-2021)
2022-06-29T21:15:00Z	**QuiznessDesk, Thursday, June 30, 2022**
02. What is the name of a popular web-based game in which players have six chances to guess a five-letter word?
03. What word can precede cheese, ribbon and blood?
04. Which New Zealand city has a major suburb whose name and street names are associated with Captain James Cook?
05. What type of scissors produces a zig-zag pattern instead of a straight edge?
06. What does the letter I stand for in the initials of the government department known as MBIE?
 ... ⌘ [Read more](https://businessdesk.co.nz/article/the-quiz/quiznessdesk-thursday-june-30-2022)
2022-06-29T22:00:00Z	**Big giver: Rosie Horton's life of giving**
Dame Rosemary Horton wears her philanthropic heart well and truly on her sleeve – so much so, that at 82 she's still coming to grips with the idea she might be entitled to slow down a little and learn to say the word “no” more often.

But one thing she makes no bones about is her dame moniker. She says she's humbled and “immensely proud” of her Queen’s Birthday Dame Companion of New Zealand honour but she refuses to let it define her. It's only ... ⌘ [Read more](https://businessdesk.co.nz/article/charities/big-giver-rosie-hortons-life-of-giving)
2022-06-29T22:05:53Z	**NZ King Salmon shuts down sale rumours**
New Zealand King Salmon (NZKS) has rejected media speculation it's seeking buyers, saying it isn't in talks with any potential suitors and hasn't been approached by anyone with an offer.

The salmon farmer responded to a report in The Australian newspaper's DataRoom column that investment bank Cameron Partners was “testing buyer interest” for the salmon business that brings in annual revenue of about $175 million. ⌘ [Read more](https://businessdesk.co.nz/article/news-in-brief/nz-king-salmon-shuts-down-sale-rumours)
2022-06-29T23:20:00Z	**Banks’ high LVR lending sailing closer to RBNZ’s limit**
The banks are sailing much closer to the Reserve Bank of New Zealand’s limit on mortgage lending to those with less than a 20% deposit than they did before RBNZ tightened the restriction last year.

So close have ANZ NZ and ASB Bank come, that they’ve had to temporarily suspend such lending. ⌘ [Read more](https://businessdesk.co.nz/article/finance/banks-high-lvr-lending-sailing-closer-to-rbnzs-limit)
2022-06-30T00:53:30Z	**Housing investment no longer a one-way bet: RBNZ**
Some of the fundamentals driving house prices are changing, which may stop investing in housing being a one-way bet, said the Reserve Bank’s new chief economist Paul Conway in his first public speech.

Among the fundamentals that are changing, many New Zealanders are heading overseas now the borders have reopened, but immigration isn’t likely to return to pre-pandemic levels quickly, Conway told the national property conference i ... ⌘ [Read more](https://businessdesk.co.nz/article/finance/housing-investment-no-longer-a-one-way-bet-rbnz)
2022-06-30T02:30:22Z	**Business confidence dire in June**
Firms are increasingly pessimistic about the outlook for activity and profitability, with supply-side issues dominating the list of biggest problems.

A net 62.6% of respondents said they expected economic conditions to worsen over the next 12 months, versus a net 55.6% that were negative in May, in the latest ANZ Business Outlook. ⌘ [Read more](https://businessdesk.co.nz/article/economy/business-confidence-dire-in-june)
2022-06-30T03:30:06Z	**Slow visa processing stalls $3b+ of foreign investment**
Potential migrants are waiting to invest at least $3 billion in New Zealand according to figures released by immigration minister Michael Wood on Thursday.

Responding to written questions from the ACT Party, Wood told Parliament there were 91 Investor 1 resident visa applications currently with case officers as at June 7, with a minimum possible investment value of $910 million. ⌘ [Read more](https://businessdesk.co.nz/article/immigration/slow-visa-processing-stalls-3b-of-foreign-investment)
2022-06-30T04:30:56Z	**My bet? Ardern says the EU-NZ FTA needs more work**
Prime minister Jacinda Ardern is between a rock and a hard place on the New Zealand-European Union free trade deal and my bet is she walks away.

She’s not going to quit. She’ll just say it’s very close, but more talks are needed. That’s much easier to spin than a deal at any cost. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/my-bet-ardern-says-the-eu-nz-fta-needs-more-work)
2022-06-30T04:40:07Z	**Finlay steps down as NZ Post chair as he joins RBNZ board**
Rodger Finlay has not been reappointed as chair of New Zealand Post and his term on that board ends today.

That’s despite NZ Post’s website and the Companies Office still listing him as chair and a director. ⌘ [Read more](https://businessdesk.co.nz/article/finance/finlay-steps-down-as-nz-post-chair-as-he-joins-rbnz-board)
2022-06-30T05:33:09Z	**Eroad shares fall to all-time low**
New Zealand’s benchmark index dipped today as fleet management company Eroad tumbled to a record low.

The S&P/NZX 50 Index fell 90.1 points, or 0.82%, to 10,868.70. Turnover was $185.9 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/eroad-shares-fall-to-all-time-low)
2022-06-30T17:00:22Z	**Genetic modification rules mean NZ missing opportunities – Treasury**
New Zealand is missing opportunities because of its regulatory barriers to genetic modification, Treasury secretary Caralee McLiesh says.

“The flipside of unlocking innovation through regulatory reform is regulation that constrains new technologies and ways of working,” she told the NZ Association of Economists annual conference at Victoria University of Wellington. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/genetic-modification-rules-mean-nz-missing-opportunities-treasury)
2022-06-30T18:00:44Z	**Jasper opens secondary market, sets sights on Aussie**
Commercial property investment manager Jasper will go live with its secondary market offering on July 1, aiming to release market liquidity for locked-in syndicated investors.

The Auckland-based property-tech firm, launched in 2019, has adopted a 'sharesies' style investment approach to property utilising a digital investment and reporting platform. Today, it manages four funds, across 14 assets valued at $342 million. ⌘ [Read more](https://businessdesk.co.nz/article/property/jasper-opens-secondary-market-sets-sights-on-aussie)
2022-06-30T18:00:33Z	**Gib shortage bites: builders going in for imported plasterboard**
With the shortage of Gib pushing prices up to more than $100 a sheet online, small builders are increasingly turning to alternatives.

Container Door is a group-buying business that connects groups of buyers with suppliers, cutting out middlemen by sourcing products directly in bulk. ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/gib-shortage-bites-builders-going-in-for-imported-plasterboard)
2022-06-30T18:00:01Z	**NZ stocks lose $55 billion of value in six months**
Since the beginning of 2022, New Zealand-listed companies have lost more than $55 billion in value as inflation burst the asset price bubble created by monetary policy stimulus.

It’s not just the equity market that’s in decline, of course, cryptocurrencies have collapsed from a US$2.2 trillion (NZ$3.5t) in value to just US$890b today. ⌘ [Read more](https://businessdesk.co.nz/article/markets/nz-stocks-lose-55-billion-of-value-in-six-months)
2022-06-30T18:00:00Z	**NZ-hosted women’s World Cup sets record viewing figures**
The White Ferns may have failed to fire in the recent ICC Women’s Cricket World Cup but in every other metric, the New Zealand-hosted tournament knocked it out of the park and reinforced the rise in spectator viewing of women’s sport.

The event generated 1.64 billion views across the International Cricket Council’s (ICC) channels. That makes it the most engaged women’s event on record – and the cricket council's thir ... ⌘ [Read more](https://businessdesk.co.nz/article/sport/nz-hosted-womens-world-cup-sets-record-viewing-figures)
2022-06-30T18:00:00Z	**A row is brewing over paying for GP visits**
There's been widespread coverage of the staffing crisis gutting New Zealand’s health system, with health minister Andrew Little lashing out like an angry possum caught in its headlights.

But there's another escalating dispute unfolding that's flown under the radar. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/a-row-is-brewing-over-paying-for-gp-visits)
2022-06-30T19:14:23Z	**Meat and dairy sectors say NZ-EU FTA doesn't hit the mark**
The meat and dairy sectors in New Zealand are disappointed with a free trade deal announced overnight with the European Union.

Prime minister Jacinda Ardern and trade and export growth minister Damien O’Connor said the government has secured a “major free trade deal” with the EU after four years of negotiations. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/meat-and-dairy-sectors-say-nz-eu-fta-doesnt-hit-the-mark)
2022-06-30T21:15:00Z	**QuiznessDesk, Friday, July 01, 2022**
02. New Zealander Jason Wynyard won more than 100 world titles in what sport?
03. What composer reputedly uttered the last words, “I shall hear in Heaven”?
04. In which decade did New Zealand get its first uniformed female police officers: the 1890s, the 1930s or the 1950s?
05. The stars Acrux, Mimosa, Gacrux and Imai are collectively known as what?
06. What traditional British pastry has Protected Geographical Indication status, meaning its name can be us ... ⌘ [Read more](https://businessdesk.co.nz/article/the-quiz/quiznessdesk-friday-july-01-2022)
2022-06-30T22:30:00Z	**Norway cyberattack overshadows select committee hearing**
Cybersecurity took centre stage at a select committee meeting on Thursday, which followed Norway suffering a major cyberattack.

The economic development, science and innovation committee estimates examination looked at internet infrastructure and radio spectrum. This came after a number of institutions in Norway were hit by a distributed denial-of-service cyberattack which the Norwegian authorities blamed o ... ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/norway-cyberattack-overshadows-select-committee-hearing)
2022-06-30T22:07:41Z	**A captain’s call on EU trade from Jacinda Ardern**
I had been dubious that the government would settle with the European Union until last night when I was informed that there had been changes to the final negotiating mandate to require a less ambitious outcome on dairy and meat.

We have certainly improved a little on the status quo but whether this outcome is commercially meaningful for dairy and meat is clearly being hotly contested. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/a-captains-call-on-eu-trade-from-jacinda-ardern)
2022-06-30T21:27:48Z	**Tourism Holdings promises to sell off significant assets to achieve Apollo deal**
Tourism Holdings’ acquisition of Apollo could go ahead if Australian and NZ competition regulators approve the campervan rental companies' proposal to sell off some of their assets. ⌘ [Read more](https://businessdesk.co.nz/article/tourism/tourism-holdings-promises-to-sell-off-significant-assets-to-achieve-apollo-deal)
2022-07-01T00:10:40Z	**Morrison & Co buys US network builder FiberLight in US$1B deal**
A group led by New Zealand infrastructure investment firm HRL Morrison & Co has agreed to buy FiberLight, a fibre network company in the United States.

Morrison & Co teamed up with Australian Retirement Trust and a Californian retirement fund managed by UBS Asset Management to strike the deal, which Bloomberg has reported as being worth US$1 billion, including debt. ⌘ [Read more](https://businessdesk.co.nz/article/news-in-brief/morrison-co-buys-us-network-builder-fiberlight-in-us1b-deal)
2022-07-01T02:30:58Z	**Data security could be speedbump for exporters under FTA**
New Zealand businesses may have to pick up their data privacy game if they want to take advantage of the recently announced free trade agreement with the European Union.

The [NZ-EU FTA is focused on primary industries](https://businessdesk.co.nz/article/primary-sector/meat-and-dairy-sectors-say-nz-eu-fta-doesnt-hit-the-mark), but will also include a chapter on digital trade that seeks to cover the way organis ... ⌘ [Read more](https://businessdesk.co.nz/article/technology/data-security-could-be-speedbump-for-exporters-under-fta)
2022-07-01T03:56:27Z	**Ransomware attacks: what can you do to avoid them?**
Ransomware attacks are on the rise, with an independent survey from Aura Information Security reporting more than half of New Zealand businesses may have been successfully targeted by a ransomware attack in 2021.

Amy Agnew, owner of IT company Belton, said paying a ransom is never recommended as it is costly and more importantly, there is no guarantee data will come back. ⌘ [Read more](https://businessdesk.co.nz/sponsored/ransomware-attacks-what-can-you-do-to-avoid-them-1)
2022-07-01T04:55:46Z	**New Christchurch stadium report raises 'critical issues', budget concerns**
Serious allegations have been made about the Christchurch stadium’s governance, budget and systems by the project’s former director in a newly unearthed report.

The report outlines several "critical issues", including concerns about the project budget when it was first tendered. It also suggested the project be "re-set" so it could be delivered successfully. ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/new-christchurch-stadium-report-raises-critical-issues-budget-concerns)
2022-07-01T05:35:57Z	**Mitsi eclipses Toyota as logistics bites**
Mitsubishi Motors New Zealand sold just over 2,000 cars last month, enough to retain pole position for overall car sales for the first two quarters of the year and marking the first time since 1987 that Toyota has not been ahead in annual sales.

While Toyota sold a combined 2,209 passenger and commercial vehicles during June, MMNZ’s combined sales of 13,769 units over the first six months remains up on Toyota’s 12,916, according to new registr ... ⌘ [Read more](https://businessdesk.co.nz/article/economy/mitsi-eclipses-toyota-as-logistics-bites)
2022-07-01T05:48:24Z	**NZ stock market finishes first half of 2022 down 18%**
New Zealand shares generally fell on the last trading day of the first half of 2022 and the benchmark equity index closed down more than 18% in the past six months.

The S&P/NZX 50 Index fell 115 points, or 1.1%, to 10,753.16. Turnover was light with just $95 million traded. ⌘ [Read more](https://businessdesk.co.nz/article/markets/nz-stock-market-finishes-first-half-of-2022-down-18)
2022-07-01T17:00:04Z	**On The Money: Air NZ's feeding frenzy, Kerry Prendergast's movie date, and more**
**Food fight**

[Air New Zealand may be projecting a loss](https://businessdesk.co.nz/article/transport/air-nz-cuts-expected-loss-as-travel-ramps-up) of about $750 million for the June year, but the show must go on, particularly when that show is the legendary annual drinks function at Parliament, where the national carrier’s tradition of making a splash needed to be  ... ⌘ [Read more](https://businessdesk.co.nz/article/on-the-money/on-the-money-air-nzs-feeding-frenzy-kerry-prendergasts-movie-date-and-more)
2022-07-01T17:00:00Z	**The great Silicon Valley shake-out**
On a busy street in downtown San Francisco sit the former headquarters of Fast, a maker of check-out software for online merchants.

The offices look quiet; a for-let sign hangs above one of the windows. That is a departure from its management’s flashy habits. ⌘ [Read more](https://businessdesk.co.nz/article/the-economist/the-great-silicon-valley-shake-out)
2022-07-01T17:00:00Z	**NZ housing consent levels unsustainable, bust signs ahead**
The 51,051 new home building consents recorded in the year to May set a new record, according to Statistics NZ figures released yesterday, up 17% from the year ended May 2021.

But here’s the question: how many of those homes will actually be built? ⌘ [Read more](https://businessdesk.co.nz/article/opinion/nz-housing-consent-levels-unsustainable-bust-signs-ahead)
2022-07-01T17:00:00Z	**Alphabet is spending billions to become a force in health care**
Rich countries pour heart-stopping amounts of money into healthcare. Advanced economies typically spend about 10% of GDP (gross domestic product) on keeping their citizens in good nick, a share that is rising as populations age.

America’s labyrinthine health-industrial complex consumes 17% of GDP, equivalent to $3.6 trillion ($5.8t) a year. The American system’s heft and inertia, perpetuated by ... ⌘ [Read more](https://businessdesk.co.nz/article/the-economist/alphabet-is-spending-billions-to-become-a-force-in-health-care)
2022-07-01T18:00:00Z	**Money Answers: what's the best share investing strategy in a recession?**
**BusinessDesk's investments editor, Frances Cook, responds to readers' emails on a weekly basis to answer various questions about money. Below you'll find her expert advice. Send your own questions to [answers@businessdesk.co.nz](mailto:answers@businessdesk.co.nz).** ⌘ [Read more](https://businessdesk.co.nz/article/finance/money-answers-whats-the-best-share-investing-strategy-in-a-recession)
2022-07-02T17:00:00Z	**Bike Review: The double-cab ute of e-bikes**
Cargo bikes are the SUVs and double-cab utes of the cycling world.

Just a few years ago they were a rarity on our roads, but earlier this month there was literally a parade of them travelling through the Wellington suburb of Newtown to mark international bicycle day. ⌘ [Read more](https://businessdesk.co.nz/article/the-life/bike-review-the-double-cab-ute-of-e-bikes)
2022-07-02T17:00:00Z	**What am I bid? How to buy art at an auction**
Over the next few months, millions of dollars' worth of art is set to be auctioned off in New Zealand.

The offerings will include two corporate collections from Spark and the BNZ, at the International Art Centre and Webb’s respectively, as well as the usual round of mid-winter art sales across all the auction houses. ⌘ [Read more](https://businessdesk.co.nz/article/the-life/what-am-i-bid-how-to-buy-art-at-an-auction)
2022-07-02T17:00:00Z	**Our pick of NZ's latest men's boots**
Selecting the right pair of ankle boots for your lifestyle is a hefty decision considering how many winters they will accompany you for.

Google "men's boots" and the options feel endless, but most are cut in low-quality fabrications and have too many bells and whistles or sub-par design lines. ⌘ [Read more](https://businessdesk.co.nz/article/the-life/our-pick-of-nzs-latest-mens-boots)
2022-07-02T17:00:00Z	**My Net Worth: Zac Stephenson, managing director, MediaCom**
Zac Stephenson is the managing director of MediaCom, a growth-driven media agency that is part of global giant GroupM. He joined the international media group in 2017 to run Ikon Communications, now part of Mindshare, a GroupM company. In April, GroupM announced MediaCom would merge with digital specialist Essence to create a digital and data-driven media agency, with Stephenson as head of its New Zealand arm ... ⌘ [Read more](https://businessdesk.co.nz/article/my-net-worth/my-net-worth-zac-stephenson-managing-director-mediacom)
2022-07-02T19:00:21Z	**Review: Observatory Hotel, Christchurch – a star is born**
The Observatory Hotel in Christchurch’s restored art centre, Te Matatiki Toi Ora, started out life 105 years ago as the physics, botany and zoology departments of Canterbury College, a precursor to the University of Canterbury.

The boutique, 33-room hotel, remodelled at a cost of $29 million over the past three years, also covers the ground floor of the observatory tower erected in 1895. That housed the Townsend Ob ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/review-observatory-hotel-christchurch-a-star-is-born)
2022-07-03T17:00:39Z	**Cooking the Books: How to make self-employed life work for you**
**Each week BusinessDesk and the NZ Herald's Cooking the Books podcast tackles a different money problem. Today, it's how to make self-employed life work for you. Hosted by Frances Cook.** ⌘ [Read more](https://businessdesk.co.nz/article/podcasts/cooking-the-books-how-to-make-self-employed-life-work-for-you)
2022-07-03T17:00:00Z	**Walnuts, sledgehammers and sloppy paperwork**
If routine breaches of the law are ignored by regulators, what does that say about the rule of law?

And what recourse is there if the transgressors are offshore investors? ⌘ [Read more](https://businessdesk.co.nz/article/opinion/walnuts-sledgehammers-and-sloppy-paperwork)
2022-07-03T17:00:00Z	**EU trade deal further locks in NZ's Paris commitments**
The New Zealand – European Union trade deal further locks in this country's emissions reduction targets and Paris Agreement commitments.

The final draft texts are yet to be released, but both the EU and NZ governments' commentary on the agreement refer to “ambitious outcomes on climate action and the Paris Agreement, including making these commitments legally binding and enforceable”. ⌘ [Read more](https://businessdesk.co.nz/article/climate-change/eu-trade-deal-further-locks-in-nzs-paris-commitments)
2022-07-03T18:00:00Z	**Tiny NZ company battles mighty Apple over online payment patent**
A tiny New Zealand company is taking on Apple and is claiming that the global giant’s Apple Pay app infringes on its own patent for online payments.

 Apple Inc had applied to lapse Travelexplorer.TV Limited’s patent, while Travelexplorer.TV had filed a counterclaim against Apple for patent infringement. ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/tiny-nz-company-battles-mighty-apple-over-online-payment-patent)
2022-07-03T19:00:00Z	**One clever mamma helps many feed their babies**
When Auckland architect Wendy Poon set out to create her own healthy, protein-filled supplements to support breastfeeding, she had no idea that would set her on the path of helping hundreds of other mothers.

But in just five years, Mamma’s Milk Bar has taken off, and Poon's lactation blends are now being exported to more than 20 countries. ⌘ [Read more](https://businessdesk.co.nz/article/profile/one-clever-mamma-helps-many-feed-their-babies)
2022-07-03T21:15:00Z	**QuiznessDesk, Monday, July 04, 2022**
02. In England, what are the Bakerloo, the Circle, the Jubilee and the Northern?
03. What classic TV Western series took its name from a Spanish word meaning a sudden increase in wealth?
04. What traditional English side dish is made using marrowfat peas?
05. Who wrote and sang the Oscar-winning title song of the 2021 James Bond movie No Time to Die?
06. What does the A stand for in the initials of the organisation known as HUHA?
07. The dish known as sata ... ⌘ [Read more](https://businessdesk.co.nz/article/the-quiz/quiznessdesk-monday-july-04-2022)