Author: Press Room

Tens of thousands of Kiwi homes could become uninsurable within 15 years as climate change drives up insurance costs and risks, new research suggests.A report released today by the Helen Clark Foundation and consulting firm WSP warns that without government intervention, insurance could also become unaffordable for many households, particularly those in flood-prone areas.Lead author Kali Mercier said insurance premiums are increasing due to climate factors, with flood-prone areas facing particular pressure.”I think we need to be thinking about how much is too much within a household, and whether we should then subsidise some people to help them keep insurance.”According…

Thousands of residential properties could be left unprotected and uninsurable in the coming years as new research points to a looming insurance crisis due to climate change. A new report by the Helen Clark Foundation and engineering consultants WSP warned “insurance retreat” could mean insurance premiums for flood-prone properties may be unaffordable. An estimated 10,000 coastal properties in Auckland, Wellington, Christchurch and Dunedin could become uninsurable by 2050, due to coastal erosion and inundation. Other properties in flood prone areas further inland were also at risk. The report, titled Premiums Under Pressure, said that without intervention, New Zealand was facing steep…

Like a dog with a bone, investment manager Greg Smith of Devon Funds refuses to give up on a call for a jumbo-sized cut to the official cash rate (OCR) at the Reserve Bank of New Zealand’s last meeting of the year due to take place in a couple of weeks.He made the same bold call for a 75 basis- point cut for the recent October decision, only to be confounded by the RBNZ’s 50 point cut to 4.75%.Smith is not deterred that he’s swimming against the tide, which overwhelmingly backs a more modest 50 basis point reduction.”A general comment…

Portugal is one of Western Europe’s poorest countries with official data showing that more than half of all workers in country earn less than €1,000 a month. ADVERTISEMENTThousands of people have attended protests in two cities in Portugal to demand higher wages and pensions and improvements to social services like housing and healthcare.Called by the General Confederation of the Portuguese Workers (CGTP), the country’s largest federation of trade unions, marches took place in Porto and the capital, Lisbon.The CGTP’s Secretary General, Tiago Oliveira, said the protests were directed at both the public and private sectors and wraps up a month…

Actor Tony Todd, known for his haunting portrayal of a killer in the horror film Candyman and roles in many other films and television shows, has died, his longtime manager confirmed. He was 69.Todd died Thursday at his home in the Los Angeles area, his manager Jeffrey Goldberg said in a statement to The Associated Press.”I had the privilege to have Tony as my friend and client for over 30 years and I will miss that amazing man every single day,” Goldberg said.”Known worldwide for his towering presence, both physically and artistically, Tony leaves behind an indelible legacy in film,…

Protesters are calling for the resignation of Valencia’s regional leader Carlos Mazón. ADVERTISEMENTThousands of people have gathered in Valencia to protest against the Spanish authorities’ response to last week’s deadly flooding.Locals believe the response was mismanaged, with authorities reacting slowly and alerts warning about the dangers of the flood being sent out too late. The demonstration, organised by social and civic groups, denounced the handling of the disaster and called for the resignation of the president of the regional government Carlos Mazón.Many marchers chanted “Mazón Resign!”, while others carried placards with messages like “You Killed Us!”Some protesters clashed with riot…

Between bites of biscuit at a flash Whakatāne motel, police officers are weighing up a tempting offer from across the ditch: housing benefits, seven weeks of leave, and an $86,000 starting salary.The Northern Territory’s (NT) police recruitment roadshow has rolled into town, armed with promises for Kiwi officers willing to trade the Bay of Plenty for Darwin’s tropical heat. Over November, the Australian state’s police force has set up multiple recruitment sessions across the country, promising perks for experienced officers and new recruits. Housing grants and re-location packages are a big part of the offer, while the job comes with…

31-year-old Mackenzie Michalski from Portland, Oregon, was reported missing on 5 November after she was last seen at a nightclub in central Budapest. ADVERTISEMENTFriends and family members of a 31-year-old American tourist who was killed while on holiday in Hungary have held a vigil to remember her. mourned their loss while a 37-year-old suspect was in custody Saturday.The victim, Mackenzie Michalski from Portland, Oregon, was reported missing on 5 November after she was last seen at a nightclub in central Budapest.Police launched a missing persons investigation and reviewed security footage from local nightclubs where they observed Michalski with a man…

A retail and accommodation complex for Cardrona is being mooted by an Australian developer. Carpe Cervisiam Ltd — fully owned by Bradley William Beer, of Brisbane — has applied to the Queenstown Lakes District Council for consent to develop two lots in the Cardrona Village. The 1730sqm site is north of the Cardrona Hotel on the opposite side of Cardrona Valley Rd. The proposal is being vetted by council staff. The company’s urban design report by Paula Costello, of Williams and Co, describes a precinct with a two-storey building fronting the road, a courtyard behind, and other small-scale buildings available…

The Greatest Night in Pop’s Grammy nomination feels like “a sweet tribute” to the late Quincy Jones.Jones, 91 — who died last week — was the producer for the 1985 star-studded recording of We Are The World and Grammys chief Harvey Mason Jr. is thrilled that the documentary which highlights his work on the song, has been nominated for Best Music Film.He told The Hollywood Reporter: “It feels really important. It’s an incredible film. I’ve watched it multiple times, and it takes me back to a great place, and seeing legends and icons in the studio working together is something…