Author: Press Room

The value of the NZ Superannuation Fund has hit a record high of $76.6 billion on the back of a strong performance by overseas technology stocks.The fund earned $11.2b for the year ended June, a 14.9% rise on the previous year, as sharemarkets were driven higher by improving economic factors and surging overseas sharemarkets.”Declining inflation, positive macroeconomic data and optimism that generative AI technology will boost corporate profitability saw global markets perform exceptionally well,” chief executive Jo Townsend said.She said the fund’s active investment strategies, which included commitments to real estate, infrastructure and timber, had added significant value and suited…

BNZ offers advice to small and medium-sized enterprises: How to access capital to grow your business.The biggest factor in achieving business growth can be having access to sufficient capital, and companies looking to raise cash need to go into the process with a solid plan.The current economic climate also makes it a difficult time to be attracting investors so it’s even more important to get it right from the start, says Matt Carnell, Head of Business Growth at BNZ.Carnell says a capital raise is a complex process and that’s especially true when investors are being more cautious in their decision…

An incorrect label on croup medication led to a four-week-old baby turning “blue and floppy”, requiring CPR and being rushed to hospital by her mother.The baby girl also stopped breathing after receiving the steroid dosage five times higher than what was prescribed.In a report released today by the Health and Disability Commissioner, a pharmacist was found to have breached the code for failing to provide services of an appropriate standard.The female baby was prescribed the oral steroid drug Redipred by her GP to treat symptoms of croup in May 2023. On the prescription form filled out by the GP, the…

The Party of the European Left (PEL) is fragmenting and splitting into two, with one of the strands looking to create a left, green and feminist party comprising more members from central and eastern European countries, its leaders told Euronews. ADVERTISEMENTThe formerly 27-strong Party of the European Left (PEL) – a cross-European political grouping – has split into two factions, with one seeking to expand to absorb parties from central and eastern Europe. The PEL – which is connected to but independent of The Left group in European Parliament – has now been reduced to 23 parties and just five MEPs,…

An addiction counsellor may face legal action after sending clients images of her breast augmentation and asking one to serve drinks at her wedding.A report released on Monday found the counsellor breached professional boundaries and abused trust in her position towards two clients.The Deputy Health and Disability Commissioner has referred the woman to the Director of Investigators to decide if she should be taken to court.Both clients complained to the Addiction Practitioners’ Association of Aotearoa NZ (DAPAANZ) about the counsellors conduct.Since then, the counsellor has been de-registered and had her membership revoked.Dr Vanessa Caldwell found the woman, who was the…

KiwiRail has been ordered to pay a fine of hundreds of thousands of dollars after its Kaitaki ferry lost power last year. KiwiRail was being sentenced on Monday afternoon in the Wellington District Court after pleading guilty to exposing passengers to risk when its Interislander ferry broke down off Wellington’s rocky south coast. In January 2023 the Kaitaki was sailing into Wellington Harbour with more than 880 people on board when it lost propulsion – resulting in a mayday call. Anchors were lowered and life-vests handed out to the passengers, but the crew were able to restore limited power, allowing…

Troubled casino operator Star Entertainment has unveiled a new Gold Coast chief executive as it battles to keep its new Brisbane project afloat.Mark Mackay will return to The Star, taking over as CEO of its Gold Coast casino after a seven-year stint at rival Crown.The Star made an announcement to the ASX on Monday, confirming Mr Mackay would replace Jessica Mellor who resigned in May.Star Entertainment has sold its Treasury Brisbane Casino building. (Jono Searle/AAP PHOTOS)The news comes after The Star revealed the sale of its Treasury Casino property in Brisbane for $67.5 million to Griffith University.The Star said it…

A man accused of killing an 18-year-old in Auckland’s Grey Lynn last week has appeared at the Auckland District Court today.Maxwel-Dee Repia died at the scene on Tuarangi Rd, Grey Lynn on Thursday evening.A 19-year-old murder accused was arrested on Saturday along with another person. He is also charged with wounding three other people with intent to cause grievous bodily harm. Family and supporters of both the accused and Repia were seated in the public gallery today. The man’s lawyer, Libby Brown, asked for interim name suppression due to the defendant’s mental wellbeing, while Sgt Hannah Marshall said the release…

Police are investigating after a bus driver was allegedly punched in the face and “had some teeth knocked” out in Auckland’s Avondale.Police said it was alerted to the incident at about 10.17am yesterday.”The driver received facial injuries and was transported to hospital,” a spokesperson said.”Police are making inquiries into the assault to identify those involved.”Tramways Union president Gary Froggatt said the driver was allegedly punched in the face by a passenger.Froggatt wanted more to be done about “issues like this”.”I realise you can’t have a policeman on every bus, but the drivers and the unions seem to be left out…

Spectators paid tribute to Ugandan Olympic runner Rebecca Cheptegei, who died on Thursday after she was set on fire in what police said was an attack by her partner. Cheptegei ran the marathon at the Paris Olympics last month. ADVERTISEMENTThe 2024 Paralympic Games has ended in Paris with two world records and a spectacular light show during a closing ceremony dominated by French electronic musicJean-Michel Jarre got the party underway at the Stade de France, coaxing dance moves from athletes, volunteers and spectators on a day when Morocco’s Fatima Ezzahra El Idrissi smashed the world record in the women’s marathon…