Author: Press Room

Kiwibank has been formally warned by the Financial Markets Authority (FMA) for failing to correctly apply aged-based fee waivers to thousands of joint account holders over a 13-year period, resulting in more than $900,000 in overcharges.Between July 2011 and November 2024, Kiwibank incorrectly charged transaction fees to 8,663 joint account customers, despite promotional materials stating that customers under 18 or 19 years old, or over 65, would be exempt.It affected joint accounts where the secondary account holder met the age-based criteria but the primary holder did not. Kiwibank was first alerted to the issued by a customer complaint in June…

By Penny Miles of RNZ The country’s last operational woollen dye house and spinning mill has been saved from the scrap heap. Christchurch-based Wild Earth Yarns is taking over manufacturing equipment belonging to Napier company Design Spun, which is closing. The family-owned company is the manufacturer of high-quality hand-knitting yarn from super-fine merino wool, possum fibre and strong wool. “What that means for us is massive expansion,” Wild Earth Yarns factory manager Blair McLaughlin said. Yarn from its factory in the Christchurch suburb of Bromley is used in textiles, knitting and merino socks. The newly purchased machinery can also manufacture mohair and…

Cabinet has agreed on a set of changes as it looks to roll out electronic road user charges to all light vehicles as it seeks to replace petrol tax.A replacement of fuel excise taxes in favour of electronic road user charging is part of National’s coalition agreement with ACT.Currently New Zealanders help pay for the roads via their vehicle licence (or “rego”) fee, road user charges (RUC) and the petrol excise duty (PED).Minister of Transport Chris Bishop said the transition will ensure all vehicles pay based on actual road use (including weight) regardless of fuel type.”Right now, New Zealanders pay…

Global engine maintenance issues affecting Air New Zealand’s fleet and Dunedin travellers are not expected to be resolved until 2028, the Otago Daily Times can reveal. Air New Zealand chief executive Greg Foran told the ODT yesterday it was “still about two plus years away” from “getting on top” of the engine issues. He shared the news after speaking with the chief executive of international aerospace manufacturer Pratt & Whitney earlier in the day. “It’s unfortunate because we’ve already had about two years of it, but it’s a tough problem to solve and there are many factors that are involved in it.” In July…

Unemployment rose to 5.2% in the June quarter of 2025, according to new numbers from Stats NZ — the highest it’s been since September 2020. It’s a slight increase from the previous 5.1% in the March 2025 quarter and 4.7% in the June 2024 quarter. There were 158,000 people unemployed in the June 2025 quarter. In the March 2025 quarter, there were 156,000. Unemployment rose by 16,000 people (11.1%) annually. Economist notes that unemployed Kiwis who left for Australia are no longer included in our data.  (Source: 1News)“Labour market conditions have changed considerably in the last few years. Since the…

An overhaul of fisheries rules will allow greater catch limits when fish are abundant and stop on-board camera footage being made public.The changes announced by Oceans and Fisheries Minister Shane Jones on Wednesday are part of a proposed new law that will be introduced later this year.The reforms would help the fishing industry achieve its “enormous potential for sustainable growth”, Jones said.”These changes are the most significant reforms to the Fisheries Act for decades and they reflect my commitment to the success of our fishing industry which generates around $1.5 billion in exports each year.”Jones has also taken a swipe…

The evidence continues to mount that Otago’s economy is outperforming the rest of New Zealand. Figures released yesterday by Statistics New Zealand show Otago had the lowest rate of unemployment in the country in the past quarter. Unemployment was 3% in Otago, compared with an average rate of 5.2% across the country. The average national rate of unemployment was 5.1% in the March 2025 quarter and 4.7% in the June 2024 quarter. In contrast, Otago’s level of unemployment was only slightly up on the March quarter’s 2.7%, and the same as it was at June 2024. Infometrics chief economist Brad…

Six out of eight businesses failed an underage booze sting in Taranaki, a result police have called “concerning”. The operation, which took place on July 25, was aimed at making sure licensed premises were checking the age of patrons before selling them alcohol. Police, Te Whatu Ora, and South Taranaki District Council teamed up to run the sting. They used two volunteers under the age of 18 who visited eight businesses in the area and attempted to buy alcohol. “Only two premises requested identification, correctly identify the age of the minor and politely decline the sale,” Senior Sergeant Andrew Russ…

ADVERTISEMENT Is a global treaty to put an end to plastic pollution within reach? Meeting in Geneva from 5-14 August, delegates from around 100 countries, including the EU, are tackling the problem at source, with the aim of setting legally binding targets to reduce plastic production. “We really need to take urgent action,” Richard Thompson, professor of marine biology at the University of Plymouth and named in Time’s 100 most influential people of 2025 for his work on microplastics, told Euronews. “This cannot be solved by waste management alone. We need to take systemic action throughout the supply chain, which…

The Royal New Zealand Air Force carried out a “complex” and “high-risk” medical evacuation from Antarctica overnight. One US diplomat described the successful mission as “daring, dangerous, and deeply courageous”. The evacuation from McMurdo Station — the largest research station on the continent, located on Ross Island’s southern tip — was requested by the US National Science Foundation because staff were unable to get the care they needed in Antarctica. A C-130J Hercules was sent from Auckland to Christchurch on Sunday while the crew waited for a gap in the weather. The crew decided to fly yesterday afternoon and worked…