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Photo: Supplied Waikato dairy co-operative Tatua plans to double production of its cream-based products with a new factory expansion. The farmer-owned co-op has invested $85 million into the construction project its board first approved in April. Tatua manufactured products like sour cream and mascarpone from milk supplied by 101 farms within a 12-kilometre radius of the factory. It exported around 90 percent of what it produced there to top export markets China and Japan. Chief executive Brendhan Greaney said there was more demand in New Zealand and abroad than it could supply. "This is quite a significant investment for us, at circa 85 million [dollars], it's our largest investment to date," Greaney said. "We're essentially doubling the capacity of what we call our foods plant and that...

Photo: Supplied / Google Maps Wellington's The Hudson bar is the next in line to close next month as businesses in the capital face challenging times. A staff member confirmed to RNZ The Hudson will close on 11 October for refurbishments and is expected to reopen sometime next year. They said the plan is to upgrade furniture and repaint the establishment. They said The Hudson is still in the process of debating whether it will keep its same name or rebrand. Source link

Photo: RNZ / Russell Palmer New Zealand's recent energy shortage sparked several urgent conversations about increasing supply to shore up security in dry years. And with EVs and industry electrification expected to push up demand going forward, the country could be looking at a renewable energy boom. But getting the projects from proposal to operational was key, and sector experts say New Zealand is a long way off an energy system that is comprised entirely of renewable sources. The government wants to reduce processing times for consents, but according to economist Geoff Bertram, there are bigger issues at play. "The incumbents, the people who already own the system, have no incentive to expand their capacity beyond the point where there is an ongoing scarcity of supply which keeps th...

Photo: RNZ / Alexander Robertson Mortgage brokers are concerned a Commerce Commission suggestion they present buyers with at least three bank offers could end up making things harder for borrowers. In its final report into the banking sector, the commission said mortgage advisers needed to "become champions of price competition" and where possible they should present clients with at least three actual offers from lenders. They should also highlight to clients any banks they were not able to work with, as well as the interest rates that might be available there. The commission said about two-thirds of new home lending by value was happening through mortgage advisers. In 2014, it was just under 30 percent. Squirrel chief executive David Cunningham said the suggestion the adviser should pre...