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Federated Farmers' meat and wool chairperson Toby Williams. Photo: RNZ / Jimmy Ellingham It is looking like another challenging season ahead for the country's already struggling sheep farmers. Beef and Lamb New Zealand's new season outlook showed while global demand for red meat was forecast to improve slightly next season, farm profitability will remain a challenge - especially for sheep farming. The report said farm profit margins were being hit by high costs, especially interest payments, reaching low levels similar to those seen in the 1980s and 1990s. It described the current forecast for farm profitability this coming year as "sobering" - with profitability for red meat forecast to drop 7.4 percent to an average of $45,200 per farm. It said the 1 percent expected increase in reven...

The regulator's work programme will include breaking down barriers to competition. Photo: RNZ / Diego Opatowski A new power sector investigator will work on bringing more generators and independent retailers into the electricity market to strengthen competition. The Commerce Commission and the Electricity Authority established the Energy Competition Task Force last month to tackle high prices on the wholesale market. The regulator's work programme will include breaking down barriers to competition. Commission chair Dr John Small said for example, new market entrants need to know the sector can support them if the wind did not blow or the sun did not shine. "A big issue for independents who are investing in renewable technology such as wind and solar [is] these are intermittent sources o...

Photo: FREELANCEIMAGES/UNIVERSAL IMAGES A long list of 147 solar, wind and geothermal projects have been announced by companies eager to find investment for a renewables boom. Massey University mathematics professor and climate writer Robert McLachlan said if every solar or wind farm that was announced got built, New Zealand would be flush with renewable energy. The Electricity Authority's generation pipeline said 10,000 gigawatt hours of new supply were being actively pursued out to 2026, equal to between a quarter and a fifth of the country's annual power consumption. But McLachlan said less than a fifth of that was fully committed or close to committed before the end of next year. "In the short term there will be more projects approved. "I don't think there's enough for next year," he...

Sharemarket returns were boosted by holdings in the so-called 'magnificent seven' technology stocks, including Microsoft, Amazon, Tesla and Nvidia. Photo: 123RF The value of the NZ Superannuation Fund has hit a record high of $76.6 billion on the back of a strong performance by overseas technology stocks. The fund earned $11.2b for the year ended June, a 14.9 percent rise on the previous year, as sharemarkets were driven higher by improving economic factors and surging overseas sharemarkets. "Declining inflation, positive macroeconomic data and optimism that generative AI technology will boost corporate profitability saw global markets perform exceptionally well," chief executive Jo Townsend said. She said the fund's active investment strategies, which included commitments to real estat...

Generally areas with the lowest house prices have the smallest jump from average rent to mortgage payments. Photo: Unsplash / Blake Wheeler It's a common complaint from first-home buyers: If I can pay $750 a week in rent - and have been doing it every week for years - why is that not enough to prove to the bank that I can afford a mortgage at that repayment level? Unfortunately, it's not that simple. A repayment of $750 a week would service a $540,000 loan with a 6 percent interest rate. A household with two borrowers and two children under 18 would need an income of about $115,000 a year to qualify for that, depending on their expenses. Read more: Data shows that it is generally the areas with the lowest house prices that have the smallest jump from average rent to mortgage payments. ...