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In the year to the end of June, 629 people had been adjudicated bankrupt. Photo: 123RF The number of people being made bankrupt has fallen sharply over the past decade, although there are warnings more trouble may lie ahead. Data shows that from a peak of about 2000 a year through 2014 to 2016, the number of people being adjudicated bankrupt per year dropped to a low of 525 in 2022. It has picked up a little since then, to 629 in the year to the end of June. Debtfix co-founder Christine Liggins said people were realising there were other options. The not-for-profit organisation helps people with problem debt and assists about 3000 people a year. Last year, it cleared roughly $20 million of debt for clients. Read more: Liggins said she encouraged clients not to pursue bankruptcy except ...

Uber drivers rallying outside the Court of Appeal in Wellington on 19 March 2024. Photo: RNZ / Pretoria Gordon The multi-billion dollar global rideshare company Uber has lost a landmark appeal against a New Zealand Court, which has ruled that drivers should be treated as employees not contractors. In 2022 the Employment Court made a historic ruling against Uber, when four Uber drivers were granted workplace protection. This gave the drivers employee benefits such as leave entitlements, minimum wage and holiday pay. Uber appealed against the decision in June 2023, but today the court dismissed the appeal, ruling in favour of the drivers. Nurredin Abdurahman, one of the four drivers who took the original court case, said the decision is a hopeful one. "This is a win for all working people...

Inside Selaks' Hawke's Bay site. Photo: RNZ / Alexa Cook One of New Zealand's biggest wine brands is celebrating its 90th birthday. The Selaks brand began in 1934 when Croatian immigrant Marino Selak first sold wine made from the 300 grape vines growing in his West Auckland market garden. Marino was the great-uncle of Michael Selak, who said the family only started making wine so they could drink it with friends. "It sort of grew from there. People said 'well this isn't bad compared to what we can buy elsewhere - can you make some more for us', so they started selling to friends and friends," he said. The company now sells more than one million litres of wine a year. "It's one of the largest wineries in New Zealand now, with grape holdings and size of production. It's a value brand so...

Steel & Tube says underlying profit was in line with expectations. Photo: RNZ / Nate McKinnon Steel manufacturer and distributor Steel & Tube says its full year result reflects weak economic conditions, but is poised to take advantage of the rebound. The company's full year net profit for the year ended June fell 85 percent to $2.6 million, with revenue down 19 percent to $479.1m. However, underlying profit was in line with expectations at $14.5m, reflecting a 21 percent drop in volumes. "While the timing and pace of an economic recovery remains unclear, our expectation is that conditions should start to improve in the 2025 calendar year," chief executive Mark Malpass said. "We are navigating a challenging trading environment, but we are well positioned for demand growth when it...