News

Research spending up 29% in two years

Auckland New Zealand business spending on research and development has grown by more than $350 million in just two years, with software companies leading the way But the country overall still lags behind the OECD average. Statistics New Zealand said that New Zealand companies spent $1.6 billion on research and development in 2016, up 29%, or $356 million, from 2014. The computer services sector...

Council dibs on Spring Creek disused roads

Laura Mills Solid Energy will soon begin disposing of land associated with the Spring Creek Mine as it prepares to close the underground mine for good. The Grey District Council already has its eye on the roads for recreational use. The failed State-owned enterprise announced recently it was permanently closing the Dunollie mine mothballed five years ago and kept ventilated with a...

Pleas to keep Aramoana relief fund

Dunedin More people have come forward criticising plans to close the Aramoana Relief Fund, but it appears it has already been granted a temporary reprieve. The fund's trustees had planned to distribute the fund's final $47,000 to three recipients, including the trust pushing to rebuild the Aramoana wharf, after which the fund was to be wound up. The fund's chairman, former city...

Elliott ends NZ career with English deal

Wellington Veteran allrounder Grant Elliott has called time on his late-blooming New Zealand international career. The 38-year-old has signed for a season with England's Birmingham Bears in the Twenty20 Blast as a non-overseas player, effectively making himself ineligible for the Black Caps. Elliott confirmed his decision via Twitter. "Loved playing with the @blackcaps and to have made some special friendships along the way....

Properties flipped for an extra $300,000

Auckland A real estate agent who sold two adjacent homes is adamant he got "top dollar" for his clients, despite a speculator flipping both properties three days later for an extra $300,000 each. One of the families had no idea their old home, which they spent years renovating, had been sold again till approached. "(An investor) making 300 grand on each property...

Motel price surges to $1000 a night during Lions tour

Auckland New Zealand-bound Lions fans are facing huge surges in accommodation prices, including one motel seeking a nightly rate of seven times its normal charge. An investigation has revealed Wellington motel, Fernhill Motor Lodge, is charging $1000 a night at the time the city hosts the second test, compared with a regular rate of $135. The Quadrant in Auckland CBD is...

Mum speaks out on forced adoption

Jaden McLeod of the New Zealand Herald "How did this actually happen? How did I allow anyone to take my child? How was I so totally controlled?" Maggie Wilkinson gave birth to her baby daughter at St Mary's Home for Unwed Mothers in Otahuhu, in 1964. She was 19 and unmarried. The matron separated Maggie from her child. She was told the child...

Swimmers set sights on world champs

Wellington Motivation will not be in short supply for New Zealand's premier swimmers at the national open championships in Auckland. Qualifying times for the world championships will be in the sights of a handful at the five-day meet starting on Monday, while others will target qualifying for the world para-swimming championships, World University Games and the Commonwealth Youth Games. Six of the eight...

Brexit, Trump troubles focus for investors

Jeremy Flood of Craigs Investment Partners It has been a fairly quiet week for the local market, giving investors a chance to catch their breath after a hectic week last week. However with so much going on overseas, markets were largely focused on offshore events as the Trump administration faced heavy scrutiny and Brexit officially began. As the end of the first...

Rabobank annual profit down 14%

Wellington Rabobank New Zealand posted a 14% decline in annual profit last year as the rural lending specialist boosted its provisioning for bad debts in the face of the dairy slowdown. Net profit fell to $89.5 million in calendar 2016 from $104 million a year earlier, the Wellington-based lender said in a statement. The decline in profit was largely due to the...
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