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MusicWorks left the Hobson St building in February 2023. Photo: Melanie Earley For nearly 60 years, one of New Zealand's largest music stores sat in Auckland's CBD, adorned with brightly coloured paintings of microphones, guitars and saxophones. But for months now, the old store has been in a state of partial demolition with only part of the storefront remaining among a pile of wood, concrete and an ever-growing pile of rubbish. Wooden boards and a metal fence surround the site covered in various tags and graffiti and a Barfoot and Thompson for sale or lease sign is displayed front and centre on the only remaining piece of the storefront. MusicWorks moved out of the site in February 2023 into a new store on Mt Eden's Dominion Rd, and since then the future of the site on one of the city'...

First published on By Stephen Blumenfeld, Victoria University Centre for Labour, Employment and Work director, Chris Peace, Victoria University occupational health and safety lecturer, Joanne Crawford, Victoria University Worksafe New Zealand chair in health and safety, Roya Gorjifard, Victoria University doctoral candidate Photo: 123RF Prime Minister Christopher Luxon sparked debate on the future of work in New Zealand this week when he ordered public service employees back to the office. But Luxon's edict neglects a broader transformation in work culture. Work from home (WFH) arrangements have grown considerably over the past decade, propelled by an increase in dual-income households and rapid technological advancements. The Covid pandemic acted as a catalyst for ...

Photo: RNZ / Nate McKinnon Major retailer The Warehouse Group has reported a large loss, which the company says reflects one of its toughest years on record. Key numbers for the 12 months ended July compared with a year ago: Net loss $54.2m vs $29.8m profit Sales revenue $3.0b vs $3.24b Adjusted profit $18.9m vs $57.4m No final dividend vs 8 cents per share The group, which owns The Warehouse, Noel Leeming and Warehouse Stationery chains, said its bottom line was significantly affected by its disposal of outdoor goods brand Torpedo7 for just $1 in March. The company reported a loss of $60 million from the sale of Torpedo7. Leaving aside one-offs, its adjusted profit was also well down from the previous year. Chair Dame Joan Withers said the year was one of the most challenging in its...

New Zealanders like a fixed term mortgage - 90 percent of ours are locked in. But we tend to fix for short terms. In the US, 30-year terms are common while here, there is almost nothing fixed for more than five years. Most New Zealand lending will refix within the next year. So what's going on, why don't we get a 30-year fix option, and would we want one anyway? The US's 30-year deals Antonia Watson, chief executive of ANZ, told 30' with Guyon Espiner that New Zealand options were more limited because of the interest rate risk involved for banks in long-term fixes. When banks lend money for a certain term, they need to know that they can access funding for that same term at a rate that works. They usually need to hedge to protect themselves against future interest rate movements, in case r...