Author: Press Room

US President Donald Trump has raised the idea of a 50-year mortgage term to help first-home buyers — but would it work for New Zealanders trying to buy houses, too?Media reported that Trump wants the US Government to back a 50-year mortgage option that would help address concerns about housing affordability.Federal Housing Finance Agency director Bill Pulte reportedly said it was “a complete game changer” for home-buyers.But is it actually a solution?Is a 50-year mortgage the solution for first home buyers? (Source: istock.com)Ed McKnight, economist at property investment firm Opes Partners, said it could be an expensive one over the…

Britain’s Royal Mint is celebrating Freddie Mercury with a new coin design that marks 40 years since his show-stealing Live Aid concert performance.The coin features an image of the Queen frontman, head thrown back and holding the microphone stand mid-performance. A musical stave that runs around the edge of the coin represents his four-octave vocal range.The first coin was struck by Mercury’s sister Kashmira Bulsara at the Royal Mint in Wales last week.”As Freddie died young, he didn’t get the chance of being awarded a royal medal for his talents in the music world. So, to have a royal coin…

MetService is forecasting a warm week with humid nights ahead, while a front moving toward the country is expected to bring heavy gales and strong winds. Higher than average temperatures were recorded in the North Island overnight, with Tauranga hitting 18C at 6am, and Whangārei and Kaitāia both recording 16C. MetService meteorologist Mmathapelo Makgabutlane said it would be “a warm week with humid nights ahead”. “Overnight temperatures reach into the mid and high teens, and daytime temperatures reach well into the 20s,” she said. However — people across the country were urged to make the most of today’s sunshine as…

Air New Zealand says it has been made aware by E tū union that staff have voted to take industrial action. “We are aware that cabin crew represented by E tū union have voted to take industrial action,” Air New Zealand’s chief executive officer Nikhil Ravishankar said in a statement. “However, no formal notice of a strike has been received.” He said negotiations were scheduled to continue with the union later this week to “progress efforts to reach a fair and sustainable agreement that recognises the important work our crew do”. E Tū union spokesperson Michael Wood told RNZ’s Midday…

Long waits for resource consents are still frustrating goldminers on the West Coast, the Regional Council has heard.The council resolved six months ago to set up a working group with the industry and work on a set of standard consent conditions that would simplify and speed up the application process.But the issue popped up yet again as an unresolved action point on the to-do list of the Environmental Management Committee meeting in Greymouth last week.Chair Chris Coll noted the project had been on the books since early May.And Councillor Allan Birchfield- a veteran goldminer himself – said he’d like to…

Bridget Jones has joined Harry Potter, Mary Poppins and Paddington as permanent residents of London’s famed Leicester Square.A new bronze statue of the romantic comedy heroine was unveiled Monday to mark 25 years since the release of the first Bridget Jones film.Actor Renée Zellweger – who has played the titular character four times since the first Bridget Jones’ Diary was released on big screens in 2001 – attended the unveiling along with author Helen Fielding, whose books inspired the films.The statue, which depicts Zellweger dressed in a mini skirt and clutching a diary and a pen, is the newest addition…

The Warehouse Group plans to cut head office jobs as it battles shrinking profit margins, even as the retail giant posts positive sales growth.The company, which includes Noel Leeming and Warehouse Stationery, reported total sales of $674.1 million for the 13 weeks ending November 2, up 0.9% on the previous year.But gross profit margins fell 0.4% with intense promotional activity and “challenging trading conditions” weighing on returns.The Warehouse Group chief executive Mark Stirton said while sales were up, the company wasn’t seeing enough full-price home and apparel sales at red sheds.”Sales revenue and units sold are up, which is an…

The cost of food continues to climb, with Stats NZ figures showing some of the sharpest increases in staples like cheese, eggs and milk. But few items rose as sharply in price as instant coffee – up 25.5 percent on last year, to an average $7.88 per 100g. “I think for the refills of the Moccona coffee it was like maybe $6 or $7 and now it’s like nearly $11,” one listener told Morning Report. “It can range a lot, like at some places they might be $6.50, other places they’re closer to $10,” said another. “I just grab it and put it…

Health NZ has confirmed two separate outbreaks of superbugs at Christchurch Hospital.Two different strains of antibiotic antibiotic-resistant enterococci have been identified on one ward.Health NZ Canterbury and West Coast nursing director Dr Sarah Berger said there were “fewer than 10 patients” with the infection, which was more difficult to treat because it did not respond to many medicines and was resistant to vancomycin.Vancomycin was an antibiotic used for potentially life-threatening infections which could not be treated with another effective, less toxic antimicrobial drug, including severe staphylococcus infections.”Most” of the patients were carriers rather than having active infections, Berger said.Deep ward…

IKEA is opening two pop-up stores ahead of its first New Zealand store, but just for window shoppers. The Swedish furniture giant’s Auckland showroom will open in early December at Sylvia Park. In Christchurch, shoppers can browse what it’s calling a “curated collection of popular products” from Tuesday until December 10. The pop-up is in Cathedral Square and will also include original works from local artists such as Miranda Parkes, Adam Popovic and Dcypher. On November 28, another will open in Wellington at Odlins Plaza and that will feature movie-inspired posters and trailers, created by illustrators and VFX artists from…