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Foodstuffs owns the Four Square; New World, PAK'nSAVE, LiquorLand, and Gilmours stores. (file image) Photo: 123RF Foodstuffs says it is a challenge to keep prices steady at the moment, with increasing costs for things such as power. Wholesale power prices have made news in recent weeks because they have increased rapidly. Since September 2021, wholesale prices have risen from about $100 per megawatt hour (MWh) to an average of about $700 per MWh this week. Electric Kiwi last month stopped taking new customers because of the high prices. Some major users of power, such as supermarket chains, are also exposed to the wholesale market via contracts for their electricity supply, which will reset higher as they come up for renewal. Winstone Pulp International (WPI) paused work for 14 days at ...

The Hauraki Gulf. Photo: Raewyn Peart The Hauraki Gulf has been valued at $5 billion a year. A report from the NZ Institute of Economic Research, commissioned by Auckland Council's Hauraki Gulf Forum, estimated the financial impact of invasive caulerpa seaweed. Most of that $5 billion price tag comes from recreation, valued at $2.49 billion, and shipping, valued at $1.34 billion. Economists also estimated the gulf provided $526 million in property value to nearby homes. But the report stated caulerpa could cause $109 million in damage to fishing activities and $45 million in damage to biodiversity. "I love our harbour, and I hate wasting money," Auckland Mayor Wayne Brown said in a statement. "I'm a boatie before I'm mayor, and I have already put a heap of advocacy into cleaning up this...

Would you pay $7 for a standard coffee? New Zealand's coffee sector is under pressure as volatile bean prices collide with a weaker New Zealand dollar, increased freight costs and higher costs of doing business. One roaster says if coffee prices had kept up with the increase in cafe costs, a flat white would now be selling for $7, not the more like $5 that most cafes price them at. Stats NZ data shows the cost of an average takeaway coffee has risen from $2.89 in June of 2006 to $3.72 in June of 2016 and $4.79 in June this year. In Wellington this week, a trim flat white with an extra shot cost $6.30 at Swimsuit. A medium flat white from French83 in Federal St, Auckland, cost $6, a regular trim flat white from Bleached in New Plymouth $4.40 and an Americano from Moore Wilson in Wellington ...

Photo: RNZ / Cole Eastham-Farrelly A former Auckland Council building inspector has pleaded guilty to bribery and corruption charges in the form of cash and renovations on his home address. Nicholas Bright admitted to 21 charges of corruption and bribery of an official in the Manukau District Court, with sentencing scheduled for 20 November. The Serious Fraud Office (SFO) filed charges against Bright and a director of a construction company in March, who still faced 23 charges of corruption and bribery of an official. The director of the construction company, who has name suppression, has entered not guilty pleas, with a court hearing set down for 25 October. SFO director Karen Chang said bribery and corruption involving public officials was an area of focus, particularly where health an...

Photo: 123rf Employers are being urged to ensure staff promoted into management roles have the training and support needed to do their job. A survey by recruitment firm Robert Walters of more than 2000 white collar professionals found 44 percent of managers do not have the appropriate training to do their job. It also found more than 200 workers were required to assume unofficial management responsibilities, including mentoring and supervising, without any official announcement, job title modification, or increase in compensation.  "This trend appears to be more prominent in recent times due to businesses being forced to reduce headcount, and thrusting subject matter experts into management roles to fill gaps," Robert Walters Australia and New Zealand chief executive Shay Peters said. He...