The scale of departing ANZ NZ CEO David Hisco’s public humiliation by his employer doesn’t fit the crime he’s said to have committed, Gareth Vaughan of interest.co.nz argues. ANZ New Zealand’s town square disgracing of David Hisco, its CEO of almost nine years, is extraordinary. He delivered in spades for ANZ NZ’s shareholders for almost … Read more
One of the country’s highest paid chief executives has lost his job after an embarrassing brouhaha over personal expenses. Business editor Maria Slade tries to make sense of the mess. Who is David Hisco? David Hisco was the CEO of ANZ New Zealand from 2010 until Monday. He started out working for a local branch … Read more
The $800 per ticket, council-funded festival of ‘creative collisions’ has been cancelled and the company behind it has gone bust. Alex Casey reports. The first problem was that nobody knew how to say it. Without any discernible vowels, pronouncing WLG-X, the name of a five day festival of “creative collisions” planned for September of this … Read more
In our Q&A series, The Lightbulb, we ask innovators and entrepreneurs to tell us about how they turned their ideas into reality. This week we talk to Guy Howard-Willis, formerly of Torpedo7 and now founder of Manta5, makers of the world’s first hydrofoil e-bike. First of all, give us your elevator pitch for Manta5. We’ve … Read more
The Sallies are taking on unscrupulous mobile traders with their own rival service. Business editor Maria Slade went out riding with the Good Shop. It’s a freezing cold day with rain going sideways but Savannah is wearing shorts. She’s been vacuuming, and it’s hot work. The thirty-something mum of four does a lot of cleaning … Read more
The Spinoff copped some flak for talking about insurance policies you may not need, so we asked Sorted’s Tom Hartmann for a view on how much insurance is too much. We are swimming in insurance providers, products and policies these days, and it can be overwhelming to figure out if you’ve got too much or … Read more
Landlords face a $4000 fine if their properties are uninsulated on July 1 – but insulation companies say time’s run out and if they haven’t done it by now, bad luck. Don Rowe reports. Two weeks out from the Residential Tenancies Act insulation deadline the industry has reached total capacity, with businesses warning there is … Read more
Costco is on its way to New Zealand, parking up in Auckland’s Westgate shopping centre, and offering locals the chance to shop for petrol, groceries, homewares and tyres in one building. New Zealanders love a bargain, and the world’s second-largest retailer promises to deliver better bargains than even the red shed can offer. So what’s … Read more
Melbourne joins two American cities as launch markets for Uber air taxis, part of plans to add a ‘third dimension’ to its ride-hailing services Uber users could be travelling by air around Melbourne as soon as 2023 under plans announced today. The Australian city was named as the third pilot market for Uber Air, and … Read more
The government should go ahead and introduce a digital services tax to show the likes of Facebook and Google that their tax planning practices are unacceptable, writes Terry Baucher. Around the world tax authorities and the voting public are coming to the conclusion that current international taxation rules give digital companies an unfair advantage over traditional businesses. A … Read more
You can insure your dog, your phone and your life. You can even take out cover for the inevitable day you shuffle off this mortal coil. But do you really need to, Christopher Walsh asks? Insurance. We’re saturated in it, but despite all the choice it never seems to be cheap. Take out car, home, … Read more
In our Q&A series, The Lightbulb, we ask innovators and entrepreneurs to tell us about how they turned their ideas into reality. This week we talk to Fraser McConnell, co-founder of alternative payments app Choice which is currently running a two-week pilot phase with Wellington bars, restaurants and cafes. First of all, give us your elevator pitch … Read more
Business is Boring is a weekly podcast series presented by The Spinoff in association with Callaghan Innovation. Host Simon Pound speaks with innovators and commentators focused on the future of New Zealand, with the interview available as both audio and a transcribed excerpt. This week he talks to Sue Dunmore, co-founder of lingerie brand Rose … Read more
Taking a longer-term view of developments in the China market would help everyone’s stress levels, writes Stephen Jacobi.* These are tense times for trade. The ongoing US-China trade war makes everyone (even me) nervous. So when news broke that the Chinese government wished to see 60% of the infant formula market controlled by Chinese companies within … Read more
In response to The Spinoff’s coverage of Rocket Lab’s US military connections, the head of New Zealand’s space agency, Peter Crabtree, wants to assure New Zealanders it is in full control of what goes into space. Becoming a space-faring nation is a momentous achievement for New Zealand. The opportunities the space sector presents for our … Read more
Taranaki workers who once earned six-figure salaries are having to rethink their lives after the government axed future offshore oil and gas exploration. Could alternative energy prove their saviour, asks Robin Martin for this RNZ Insight report Money never used to be an issue for geologist Gary Ammundsen. He was a “mudlogger” – responsible for … Read more
In our Q&A series, The Lightbulb, we ask innovators and entrepreneurs to tell us about how they turned their ideas into reality. This week we talk to Ming Dapiere, founder of packaging company R3pack (pronounced R-Three-Pack) which provides compostable and recycled courier options. First of all, give us your elevator pitch for R3pack. R3pack is a … Read more
Companies are paying thousands for a Rainbow Tick to show their workplaces are safe for LGBTQI people. But does the certification really do what it purports to? Digital journalist Murphy reports for RNZ. Kim sits in the car on her way in to work – she’s crying, she doesn’t want to go in. She woke up … Read more
Think the dark times of the finance company collapses are well behind us? The regulatory environment that allowed the collapse of South Canterbury Finance exists to this day. Allan Hubbard’s failed investments included $30m lost on the Lord of the Rings trilogy and $10m in a Blenheim company that claimed to have found a cure … Read more
It’s been a rollercoaster ride for the once flourishing company that now owes investors tens of millions of dollars. Don’t follow? Here’s a brief recap of Cryptopia’s historic downfall over the last five months. First thing’s first, what is Cryptopia? Cryptopia is (well, was) a Christchurch-based cryptocurrency exchange founded by Rob Dawson and Adam Clark … Read more
Ten million dollars worth of stock in a medicinal cannabis company goes on sale today as Cannasouth aims to be the first company of its kind to list on the NZX. But should you buy in? Don Rowe talks to Simplicity managing director Sam Stubbs. The country’s first medicinal cannabis initial public offering (IPO) launches … Read more
In our Q&A series, The Lightbulb, we ask innovators and entrepreneurs to tell us about how they turned their ideas into reality. This week we talk to Mathew Jury, founder of award-winning company Taska Prosthetics which makes state-of-the-art prosthetic hands. First of all, give us your elevator pitch for Taska Prosthetics. The Taska product is a … Read more
The US banned Huawei and now Google is breaking up with the Chinese smartphone maker. How did all go so wrong? I’ve been hiding under a rock for the last few days. What happened? Earlier this week, Google announced plans to restrict access to its apps and services on Huawei products. That means no more … Read more
Business is Boring is a weekly podcast series presented by The Spinoff in association with Callaghan Innovation. Host Simon Pound speaks with innovators and commentators focused on the future of New Zealand, with the interview available as both audio and a transcribed excerpt. This week he talks to Amber Taylor from Ara Journeys and Callaghan … Read more
ANZ has been placed on the banking naughty step for potentially lending to New Zealanders without enough capital to protect deposits. How did this happen? Any journalist will tell you that Friday is a great time to issue an embarrassing press release. Journalists are humans with an eye on the weekend too, so they can … Read more
Most labels for bigger people aren’t plus-size enough and the larger price tags that go them are “bullshit”, a new Wellington business owner says. A Wellington fashion entrepreneur says the “fat tax” charged on larger sizes is one of the drivers propelling her to build her own plus-size clothing line. House of Boom is Joanna … Read more
Panicking and changing KiwiSaver funds when the market goes through a bad patch is precisely the wrong thing to do, writes Martin Hawes. Annual KiwiSaver statements are hitting people’s inboxes about now, and there may be a few gasps from those who don’t generally pay much attention to the business news. Thanks to turbulence on … Read more
In our Q&A series, The Lightbulb, we ask innovators and entrepreneurs to tell us about how they turned their ideas into reality. This week we talk to Little Yellow Bird founder Samantha Jones whose social enterprise makes sustainably and ethically-made uniforms and basics. First of all, give us your elevator pitch for Little Yellow Bird. We’re … Read more
Business is Boring is a weekly podcast series presented by The Spinoff in association with Callaghan Innovation. Host Simon Pound speaks with innovators and commentators focused on the future of New Zealand, with the interview available as both audio and a transcribed excerpt. This week he talks to Soraya Hendesi, founder of the skincare company … Read more