BusinessDesk‘s Rebecca Stevenson looks into the controversial restructuring programme at New Zealand’s largest retailer, which has slashed hundreds of jobs and shuttered stores nationwide. I still recall as an employee of the former Fairfax Media business seeing a report in The Australian in 2013 which filled me, a junior reporter with an interest in business, … Read more
New Zealand’s Covid-19 lockdowns triggered intense panic buying of flour, toilet paper and canned foods. In response, one of our largest grocery companies decided to cut its product range, writes Rebecca Stevenson for BusinessDesk. Foodstuffs’ store owners have narrowed the range of products sold as a result of the nationwide Covid-19 lockdown. Foodstuffs North Island … Read more
Immigration NZ has deemed a golf course designer and three ‘shapers’ to be critical workers, approving their entry to work on an American billionaire’s two courses in Northland. Rebecca Stevenson of BusinessDesk reports. A golf course designer and three “shapers” have been approved entry to New Zealand as critical workers for US billionaire Ric Kayne’s … Read more
Imagine you didn’t get paid for a month or two for your work. Big businesses have used this tactic to keep cash in the bank – but how long do our corporates take to pay? Rebecca Stevenson investigates. This post was originally published 17 February 2018 In New Zealand, they account for 97% of businesses. … Read more
There’s an art to visiting open homes. Rebecca Stevenson looks behind ‘the vibe’ and smell of baking as she searches for a new house. I’m not exactly in the market for a new home, but I am in the market for open homes. Let me explain. We own our home. Our home is a dump … Read more
Welcome to the Cheat Sheet, a clickable, shareable, bite-sized FAQ on the news of the moment. Today: meet the new Mad Butcher, same as the old Mad Butcher? Hooray! Your old mate The Mad Butcher is now back in family hands! A press release proclaimed it is so: “With the Mad Butcher franchise back in family … Read more
A Kiwi company wants to make fencing and farm dogs redundant, creating a collar equipped with audio and vibrational cues that can be remotely controlled from the farmhouse – and measure fertility. But is it good for the cows? It has a Tesla-esque logo, marketing language swiped straight from Tinder and is backed by Silicon … Read more
For no particular reason we’re celebrating Kiwi companies that are being a bit extra, for the good of working parents. We know the drill. It’s the hardest job you’ll ever have. Working, parenting – parenting, working. It’s tough. We’ve got a bunch of in-built safety nets via our labour laws which (hopefully) ensure parents with … Read more
I swear to god. Two stories this week made me very angry. The first was about a spot of bother in the towbar industry. Two engineers responsible for certifying towbars have been suspended “amid safety investigations into broken and cracked towing connections on heavy truck-trailers”. Heavy truck-trailers you say? Sounds dangerous, doesn’t it? And it … Read more
GDP came out today, and it was fine – but that’s yesterday’s sales. The real question is, how does business feel about the future? It sounds a bit like one of those earnest startup pitches. Gross domestic product (GDP) provides a snapshot of the performance of the economy. GDP is New Zealand’s official measure of economic growth. GDP … Read more
Having axed nearly all the people he follows on Twitter, rich-lister Sam Morgan is proudly down to fewer than ten. They’re all men. In the interests of broadening his horizons, here are some real life female humans he might like to add. Hey Sam, We don’t know you, but everyone in New Zealand sort of … Read more
After years of disappointing wage growth, and income growth more broadly, are the stars aligned for a lift? We all know it. It’s the feeling of busting your gut day-in day-out to finally get to payday, only to feel when you wrest open that little payslip, defeated and a little deflated: I worked all those … Read more
Measure twice, cut once. New Consumer Affairs Minister Kris Faafoi is on a mission to make our laws fit for purpose. Unfair clamping fine from a private carpark: $760. Phone call from a debt collector: $30. Interest on a short-term loan: 400%. These are the sort of consumer outrages in the sights of Commerce and … Read more
Licensing trusts say they exist to sell alcohol responsibly. So why did a West Auckland trust ask people to recount their ‘craziest’ moments with hard liquor? They market themselves as responsible sellers of alcohol, a locally-owned organisation controlling access to alcohol to minimise harm and give back to the community. But social media activity by … Read more
New Zealand’s blue-chip business newspaper is these days chiefly an online operation, and its owner has plans to boost the subscriber base to 100,000. Against a backdrop of social media grenades and staff disquiet, Spinoff business editor Rebecca Stevenson talks to the NBR’s outspoken head honcho Todd Scott. Todd Scott is a truculent tweeter, taking … Read more
They’ve left wiggle room for some rainy day expenses, but the Labour-led government more than anything has sought to sell today’s funding announcements as an exercise in cleaning up National’s mess. Rebecca Stevenson reports from Wellington Grant Robertson hammered a few key messages in his budget address today: this is a budget that will lay … Read more
Welcome to the Cheat Sheet, a clickable, shareable, bite-sized FAQ on the news of the moment. Today, are minimum wage workers being exploited and underpaid? Ahh, the minimum wage. It can be seen to be either a floor to ensure employers don’t try to pay us for our labour with only the smell of success … Read more
How could it be Commute Week without an ode to New Zealand’s favourite mode of transport? Public transport is definitely on the rise but for many Kiwis the car is king for a couple of vital reasons: it runs to your schedule and you don’t have to share it with anyone else. Oh, and it … Read more
Made in New Zealand. Four words that attract a premium price. But who says what’s Kiwi made and what’s not? Following today’s revelation that WORLD sells clothing manufactured offshore with cardboard swing tags that state “FABRIQUE EN NOUVELLE-ZELANDE” (translation: Made in New Zealand) we started to wonder – what are the laws and rules which … Read more
Welcome to the Cheat Sheet, a clickable, shareable, bite-sized FAQ on the news of the moment. Today, who is the New Zealand billionaire at the centre of a bubbling Brexit scandal? There aren’t many billionaires who have called New Zealand home. Of course there’s Graeme Hart (dubbed by Forbes New Zealand’s perennial richest person) with … Read more
A leaked email from a BP manager has exposed the tactics fuel retailers employ to increase prices at the pump. But do we all just pay too much anyway? Here’s ten numbers which show we’re paying a premium for petrol. 20 cents How can it be that petrol prices at the BP petrol station in … Read more
Welcome to the Cheat Sheet, a clickable, shareable, bite-sized FAQ on the news of the moment. Today, what on earth is going on with Air New Zealand’s new Boeings? We all know long-haul travel is a particular kind of hell (with or without kids) because we’re Kiwis and everywhere is really bloody far away. Legroom … Read more
When Bethenny Frankel first bought Amazon shares, the company was nothing. But her gut said it was going to be big, so she bought in. That’s just one of her many, many business successes. On a recent visit to Auckland, Rebecca Stevenson tapped the Real Housewives of New York star for her top financial tips. … Read more
Information is power, right? A new money personality quiz built by our partners at Kiwibank could help you tackle your money issues. The Spinoff took it for a spin – here are our results. Do you ever consider your relationship with money? Or that the way you feel about yourself carries through into what sort … Read more
Gambling and booze, booze and gambling. Those legal – but potentially devastating – vices. Rebecca Stevenson investigates how a handful of people, including sitting councillors, hold a tight grip on West Auckland nightlife. A piece published last week on the Spinoff, arguing that licensing trusts are holding back West Auckland, triggered a national conversation about the arcane governance that … Read more
The Spinoff Cheat Sheet: a clickable, shareable, bite-sized FAQ on the news of the moment. Today, what is the Tax Working Group anyway – and what is it up to? The Spinoff is hosting Tax Heroes – a series covering tax, who pays it and what it means. Click here to read more. Before all … Read more
Tax, tax, lovely tax. We all pay it, in one way or another, and we rely on it to pay for things like schools, healthcare and roading – our tax does some wonderful things. Here are ten tax numbers you need to know. The Spinoff is hosting Tax Heroes – a series covering tax, who … Read more
Tax Heroes: We take a closer look at how much tax our 50 biggest companies paid in 2017. “Tax is love”: Read Duncan Greive’s introduction to our new Tax Heroes series here. Do our biggest businesses pay their fair share? This was the question confronting Auckland accounting professors Jilnaught Wong and Norman Wong. So they … Read more
Rebecca Stevenson uses key numbers to look back at the reign of Sky TV’s legendary CEO John Fellet, who yesterday announced his intention to retire within 12 months. 27 years The length of time John Fellet has worked for Sky TV. He didn’t slide straight into the big chair, first appointed as chief operating officer. … Read more