Blog

A series of craft beers released by Te Aro Brewing Company have come under fire after Polynesian navigator Kupe featured on its labels alongside colonial explorers Magellan and Columbus. Photo: Te Aro Brewing Company An Upper Hutt Brewery has been told to remove its Kupe beer from sale and take down associated promotion, after it was found to be in breach of advertising standards. Te Aro Brewing named its Kupe New Zealand IPA after the Polynesian navigator as part of its Age of Discovery series - a limited range of beers showcasing historical explorers including Christopher Columbus and Ferdinand Magellan. It also promoted the Kupe beer on its Facebook and Instagram accounts, including associating it with the Matariki holiday in June. Concern about the product and its promotion was firs...

Vulcan Steel posted another big drop in full-year profit amid tough conditions in the building sector. Photo: RNZ / Cole Eastham-Farrelly Steel products company Vulcan Steel posted another big drop in full-year profit amid tough conditions in the building sector. Key numbers for the 12 months ended June compared with a year ago: Net profit $40m vs $87.9m Revenue $1.06b vs $1.24b Underlying earnings (EBITDA) $147.6m vs $218.9m Final dividend 12 cents per share vs 30.5 cps The company's profit more than halved on the back of a 15 percent drop in revenue. Chief executive Rhys Jones said business conditions remained challenging in both Australia and New Zealand. "Higher interest rates continued to impact on activity levels. High inflation added to the pressure on business costs." However ...

The hemp industry, once touted as the next billion dollar industry, is contracting as companies are hamstrung by legislation, Bradley Lake says. Photo: A hemp company says it's dumping tonnes of a by-product that could be used as animal feed. Christchurch based The Brothers Green processes hemp for its oil, hearts and meal. The meal is milled down and about 40 percent is turned into protein powder, however, the by-product, the other 60 percent of the meal, is dumped. Managing director Bradley Lake said they were dumping tonnes of the nutritious rich meal which he would like to see saved from landfill and used as animal feed. "We just want the opportunity at least to explore what the options could be, overseas it's used in the equine industry. "The meal is very similar to other meals fe...

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 ...