Business

NZH

Facebook and Instagram users report major outage worldwide

Reports of issues with Facebook began about 9am.

Growing like a weed: Ora Pharm buys Helius out of administration

The Ora Pharm CEO says the Helius buy will supercharge cannabis production and exports.

Simplicity backs $30m biotech and deep tech fund

The new fund has backed 13 Kiwi firms, including Masco and BioOra.

China takes supercomputer crown from US for first time since 2017

New York Times: A supercomputer in Shenzhen has been declared the world's fastest.

A battle in and outside the ring: TVNZ secures more live sport in its new showdown with Sky TV

State broadcaster announces rights to world-title elimination bout, celebrity undercard.

Tech drags down world stocks, oil dips on supply hopes

The Nasdaq dropped 2.2% amid steep falls in major semiconductor stocks.

The UK is still counting the cost of Brexit, 10 years after the vote

NY Times: Analysts broadly agree Britain’s economy is smaller than it would have been.

Ali Adams: The secrets to Christchurch’s economic success

OPINION: When Auckland sings your praises, you know you're doing something right.

Why NZ’s cost of living pain is worse than other countries

ANALYSIS: Liam Dann answers reader questions about the economy.

RN

'Be prepared': Auckland Airport gearing up for busiest international travel day

Travellers are advised to arrive early and be prepared for security screening as Auckland Airport braces for one of its busiest international departure days. Audio

What next for home loan rates as bank go different directions

Major banks are adjusting fixed home loan rates in different directions.

NZ users affected as Facebook, Instagram experience outage

There were hundreds of reports of problems with WhatsApp also affected.

Wall Street getting trampled in an AI sell-off

Volatility has returned to the stock market, and AI is once again the culprit.

'The market has moved underneath them': Separating couples watching house prices fall

Separating couples around the country are having to grapple with the realities of the housing market.

Tiger Brokers proposes major staff cuts after $100m fine

New Zealand's largest online brokerage firm Tiger Brokers is planning to shed between 30 and 40 percent of its staff after paying a fine of more than $100 million for...

NZ's central distribution hub gets $22m loan from govt

A loan from the Regional Infrastructure Fund is to be invested in the next stage of developing Manawatū's Te Utanganui precinct.

Why we're trading perks for security

There is a shift from a "perks economy" to a "predictability economy", say recruiters. Audio

How KiwiSaver could give kids tens of thousands of dollars

How can you set up accounts for your kids? And should you? Audio

Nelson business aims to build first crew-free commercial fishing boats

The uncrewed boats developers say it is an ambitious approach to inshore fishing that could address some of the pressures facing the industry.

1N

Restaurant, owner to pay $400,000 for 'ruthless' migrant exploitation

The 'vulnerable' migrant employees, who sometimes worked between 60 and 90 hours a week, were underpaid and forced to take out personal loans.

Kaitāia mill confirmed to close after no buyer found – union

Workers were told of the development at an early morning meeting today, with the company saying no buyer had been found during the sale window.

Burst water pipe 'floods' central Wellington gym

Fire and Emergency NZ were first called about the burst pipe at 4.35am, and said it was affecting a building with multiple businesses.

Major bank hikes some mortgage rates, slashes others

It came after the country's largest bank announced it would cut some of its fixed home loan interest rates earlier this week, in response to a fall in wholesale interest rates.

NZ's largest bank cuts some fixed home loan interest rates

The changes across the bank's fixed and special rates are effective from tomorrow.

Kiwifruit harvest smashes records – red and gold lead the way

More than 225 million trays of kiwifruit were picked this year, compared to 216 million trays last year.

KiwiSaver contribution at 12% could make some better off when retired than working

Some experts say a 5% plus 5% contribution rate is probably the optimum default rate for KiwiSaver.

Cancer survivor left feeling 'helpless' after privacy breach

Cheryl Horrell was furious when painful, private details were used to target her and other cancer survivors with advertising.

Record falls twice in a week as Angus bull sells for $220,000

A Gisborne bull has become the most expensive ever sold in Australasia, eclipsing a benchmark set days earlier as breeders continue to pay top dollar for elite genetics.

Lyttelton's The Shroom Room 'completely gutted' in blaze

The owners of a popular Lyttelton cafe are devastated by a fire that has destroyed the building.

St

Sharp drops in Big Tech companies pull stocks lower on Wall Street

Stocks fell on Wall Street Tuesday as a sell-off in big technology companies spread from Asia back to the U.S. over worries about potentially higher interest rates by the end of the year.

Trains halted across Germany because of communication system problem

BERLIN (AP) — Germany’s national railway operator said it halted trains across the country late Tuesday evening because of a problem with a communication system.

New supermarket loyalty scheme hits rollout hurdles

Foodstuffs has acknowledged “a small number of issues” that have been raised by customers during the rollout of its new loyalty scheme.

Residents return to war-ravaged southern Lebanon with hope and sorrow after the US-Iran deal

Adnan Kaour returned on Thursday to check on his home in southern Lebanon 's coastal city of Tyre — once known as an idyllic summer getaway spot — just a week after Israel issued warnings for all of its residents to evacuate.

Supreme Court sides with a Texas man who says it’s not a crime for marijuana users to have guns

WASHINGTON (AP) — The Supreme Court ruled Thursday against a broad federal ban on gun ownership by marijuana users, the latest in a line of firearm cases from a court that has expanded gun rights.

Unique art deco heritage building for sale in the heart of Napier CBD

One of Napier’s most recognisable Art Deco heritage buildings has been brought to the market for sale, presenting an opportunity to acquire a landmark investment.

Dual-tenancy property in West Auckland industrial hub for sale or lease

The land and buildings of an industrial asset in Glen Eden in West Auckland are available for sale or lease.

Genuine blank canvas in Christchurch’s SALT district

A 1171sqm freehold site in the heart of the SALT District represents one of the CBD’s few genuine blank canvases for exciting development.

Strategic industrial landholding with future development potential

A large-scale industrial site in tightly held Māngere is being offered to the market for sale with vacant possession.

Global partnership formed for landmark PwC Tower asset

A new investment partnership between Precinct Properties and PAG has been formed for the landmark PwC Tower at Auckland’s Commercial Bay precinct.

TP

Dozens of jobs set to go as Juken flags closure process for Kaitāia timber mill

Northland Mill would be the seventh major wood processing site lost during the term of the coalition Government, says the union as it asks for government help.

'Tug of war' between kiwifruit and honey industries for beehives

With honey prices coming back up, more beekeepers are expected to prioritise honey over pollination, which would create a challenge for kiwifruit growers.

Wall Street’s big tech sell-off sends markets plunging

In the US stocks have fallen on Wall Street as a sell-off in big technology companies over concerns about potentially higher interest rates by the end of the year.

NZ wealth funds supercharge homegrown tech startups with $65m

Simplicity and The New Zealand Super Fund take more of a punt on Kiwi tech firms as discussions over supporting local and funding retirement heat up.

Great expectations: The rise of New Zealand’s ‘always-on’ trader

New Zealand traders are increasingly expecting markets to operate on their schedule - not the other way around.

The Global Read: Former Federal Reserve Chairman Alan Greenspan dies at 100

He was at one stage nicknamed the “Maestro” and the “Oracle” - but his reputation began to suffer almost as soon as he left the Fed in 2006, when the economy faltered and the Great Recession of 2007-2009 became the deepest US downturn since the 1930s.

‘These people genuinely think they are civic warriors’: The rise of the AI lawyer

Screeds of legal ‘arguments’ generated by AI aren’t doing anyone any favours, say those on the receiving end of them.

Exploitation thrives when enforcement falls behind

OPINION: The Budget announcement that the Government has set aside $18 million over the next fours years to counter migrant exploitation and immigration non-compliance is good news for migrants and those in New Zealand on working visas.

Independent windscreen repairers demand action - again - from watchdog

Small auto glass repairers want the Commerce Commission to investigate the relationship between market giant Novus and its related invoicing outfit, Auto Glass Claims.

‘Feedback triangles’ are a simple, transformative concept for workplace culture

L'Oréal Groupe New Zealand country lead Daina Wilson says the concept has led to her company investing in feedback training to build trust, and create spaces for honest and challenging conversations.

TPr

First look at new multimillion-dollar Rolleston bridge over SH1

The New Zealand Transport Agency has released images of what a new multimillion-dollar bridge connecting Rolleston’s residential and industrial areas will look like.

Hanmer Springs to open New Zealand’s first snow room as part of new wellness experience

Hanmer Springs is adding something to its winter offering that doesn’t exist anywhere else in the country — a room where real snow falls indoors.

ECan moves to close water bottling loophole with new rules

Constructing wetlands will be encouraged instead of deterred under new proposed rules.

Gravelly car park opposite NZ’s ‘most beautiful street’ set for art deco office transformation

Brooksfield is advancing plans for an art deco office building on Gloucester St, near one of the city’s most colourful streets.

Who is DP World, the Dubai giant that wants to take charge of Lyttelton Port?

DP World has spent two decades building a logistics empire that stretches from ports and warehouses to rail, trucking and freight forwarding, and now its next potential foothold is Lyttelton.

Asked to name one big project to prioritise, Canterbury’s leaders couldn’t agree

Canterbury’s business and political leaders have produced a scattered list of roads, rapid transit, freight, flood protection and energy projects - but no clear, agreed priority to take to Wellington.

This tiny Christchurch eatery is easy to miss, but it’s a hit with schoolkids

A low-key corner inside an Asian supermarket in Christchurch is serving everything from braised meats and steamed buns to boxed rice meals and flatbreads.

Average Christchurch rates bill going up $310 a year as council approves ‘prudent’ budget

Christchurch homeowners will face a 7.35% rates increase from next week, with mayor Phil Mauger praising the ‘prudent’ $2b budget.

Award-winning West Coast pie business in liquidation over unpaid tax, as debts could surpass $1.4m

The Westport company behind the award-winning West Coast Pie Company as been put into liquidation.

Mercedes-Benz, Audi among chop shop’s $160k of vehicles destined for Middle East, police allege

Police have accused a Canterbury auto dismantler of recklessly receiving more than $160,000 of stolen vehicles destined for the Middle East in an organised ‘chop shop’ operation.

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NZ still seems to think house prices will rise. Good luck with that

New Zealand has largely fixed its original sin, which caused home-buying mania.

Barbers aren’t about to be replaced by AI. So is this 2026’s cleverest career choice?

Thinking of a career change? Well, hair never stops growing, and robots can’t do fades – yet.

New Zealand just posted its best economic results in three years. But there’s a catch

Our economy was healing. Then the Iran war began.

The mysterious online store selling (and maybe stealing) Māori designs

At first glance, Polynesian Pride appears to be proudly Polynesian. Māori designers suspect otherwise.

Three big unanswered questions about what the Iran peace deal means for New Zealand

New Zealanders responded to the prospect of Peace In Our Times with a resounding chorus of: ‘So when will petrol be cheaper?’

Farming stopped being New Zealand’s economic backbone decades ago

Our reality is closer to Christopher Luxon’s infamous description of a ‘wet, whiny, inward-looking country’.

New Zealand hospitality closures: the latest numbers and what they mean

With liquidations soaring and six-figure debts making headlines, we look behind the figures.

The real-world cost of AI

Anyone with an internet connection can now fire off a query to an AI agent – but what’s the real-world environmental impact of the ‘fourth industrial revolution’?

New Zealand will stay nuclear free (mainly because it can’t afford not to)

Keeping all things nuclear out of New Zealand may or may not make moral sense. But it almost certainly makes economic sense.

Privately funded second Auckland harbour bridge ‘unlikely to achieve value for money’, NZTA report warns

Major construction firms told NZTA they would prefer to build a tunnel under Waitematā harbour, which is more expensive but less risky than a bridge.