Author: Press Room

Red meat processor Alliance Group is warning shareholders the co-operative risks financial collapse without agreement to an overseas investment deal.Alliance has lost about $165 million in the last two years alone and now needs to pay back around $188-200m borrowed from six banks by December 19.Irish company Dawn Meats is offering to buy a 65% stake for $250m to meet the banks’ deadline.The remaining 35% of shares retained by farmers would later become unlisted stock exchange shares.Urgent meetings were now taking place up and down the country, as shareholders vote on whether to take the Dawn Meats offer and end…

Foreign Affairs Minister Winston Peters says a “disgusting coward” has smashed a window in a “truly gutless attack” at his home in Auckland this evening.Peters said on X that he wasn’t home at the time but his partner and a guest were present. Glass shattered “all over” Peters’ dog in the attack, he said, and a sign was left on the front door.Debris lays scattered on a seat after a window of Winston Peters’ house was smashed. (Source: 1News)Officers were called to a house around 5.40pm following a report of wilful damage, a police spokesperson confirmed to 1News.”The offender had…

The Reserve Bank could cut the Official Cash Rate by 50 basis points this week – but what would that mean for home loan rates?The bank will review the official cash rate on Wednesday.Several economists and other commentators have called for a drop of 50 basis points, which would take it to 2.5%.Infometrics chief forecaster Gareth Kiernan was among those expecting a 50 basis point cut.That could mean that home loan rates dropped a bit.”Last time I looked, the market was pricing in a 60% to 70% chance of a 50 basis point cut so I would expect to see…

Young people are being punished for an economic crisis they did not create, says a youth advocate, as the government gears up to means-test parents before their 18 or 19-year old can get a benefit.From November next year, young people wanting to get Jobseeker support or the equivalent Emergency Benefit will have to take a parental income test, to see whether their parents can support them instead of the taxpayer.About 4300 18- and 19-year-olds were estimated to become ineligible for support, with 4700 remaining eligible in the 2027-28 financial year.As at June 2025, 15,045 18 and 19-year-olds were on Jobseeker…

The morning’s headlines in 90 seconds, including hope the peace deal for Gaza will become reality, a league and sevens star is coming to the Warriors, and why your social feeds could soon be flooded with fakes. Donald Trump is hopeful the deal for peace in Gaza will get signed, saying negotiators “don’t need flexibility”.The coronial inquiry into the Whakaari eruption will hear its first evidence today.Christopher Luxon’s standing firm on changes to job seeker benefit entitlements. Sevens star and NRLW champion Gayle Broughton is coming to the Warriors next season. Open AI is releasing its new fake video generator.

A man has been taken into custody after a gun was allegedly fired at police in Auckland’s Flat Bush this morning.The incident occurred just after 9.30am on Chapel Road, where police said it was conducting inquiries.One officer was hurt in the incident. Superintendent Shanan Gray has since confirmed they had been discharged from hospital. Police said earlier their injuries did not appear to be life threatening.Gray said cordons remained in place on Chapel Road as of 1.30pm between Baverstock Road and Stancombe Road while inquiries continued.Shortly after 1pm, loud bangs could be heard from the area. Minutes later, footage taken…

New Zealand’s biggest insurance company, IAG, has been penalised $19.5 million for overcharging nearly 250,000 customers tens of millions of dollars by not giving them promised discounts and benefits. The High Court imposed the penalty after the Financial Markets Authority took legal action after the company admitted it had not delivered the multi-policy discounts and other benefits as specified in their policies. FMA executive director, response and enforcement Louise Unger said IAG’s breaches were the most extensive seen in any similar case it had taken, and justified a significant penalty. “IAG is New Zealand’s largest insurer. It is a large and sophisticated…

One new measles case has been confirmed in Northland over the weekend, bringing the national total to 11.Health officials said the new case was in quarantine during their infectious period, with no locations where the public may have been exposed. Ten of the total cases nationally are from the Northland outbreak, while one unrelated case was in Queenstown. People who have been in Northland, Queenstown and Cromwell recently have been urged to stay up to date with locations of interest and monitor for measles symptoms. The morning’s headlines in 90 seconds, including hope the peace deal for Gaza will become…

A man is appearing in court today on a murder charge following the death of another man in North Dunedin.Police were called to Great King Street at about 2pm on Friday after reports of a “sudden death”.A 36-year-old man was found dead at a property. In an update today, police said the pair were believed to have been known to each other.The 25-year-old accused was due to appear in Dunedin District Court today.The morning’s headlines in 90 seconds, including hope the peace deal for Gaza will become reality, a league and sevens star is coming to the Warriors, and why…

Drivers heading from Wellington to Miramar could still expect some delays and congestion following a bus crash earlier this morning. Emergency services responded to the single-vehicle crash involving a bus on State Highway 1 near Kilbirnie Crescent shortly before 6am. Wellington Free Ambulance said one person in a serious condition was taken to hospital. Emergency services were called to the single-vehicle crash near Kilbirnie Crescent shortly before 6am. (Source: 1News)In an update shortly after 10am, New Zealand Transport Agency Waka Kotahi (NZTA) said the highway had reopened in both directions. “Some delays can be expected until queued traffic clears and…