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Photo: RNZ / Cole Eastham-Farrelly Retailer members of her organisation are closing their businesses every week, chief executive of Retail NZ Carolyn Young says. "It's incredibly tough," she said. "Part of it is like the culminating factor - businesses hang on, hang on, hang on - April through to September are quieter months in retail. "We've come off eight quarters in a row of negative growth, at some point businesses are going to run out of cash. They've used all their lines of credit, they can't stay open any more. Sometimes it's their choice, sometimes it's forced on them." Data from Centrix shows the number of retail businesses being liquidated was up 36 percent in July, compared to the same time a year earlier. Hospitality liquidations were up 27 percent and were 2.2 times more lik...

More respondents met their revenue and profit targets than had fallen short. Photo: 123rf.com The improving mood flowing through the business sector is showing itself among the financial heads of companies. A new survey of chief financial officers (CFOs) by recruitment firm Hunter Campbell, tax advisors Tax Traders and economics consultancy Infometrics showed a net 30 percent of the 173 surveyed were upbeat about their growth outlook for the year ahead. Infometrics chief executive and principal economist Brad Olsen said there were economic challenges ahead, but a fair portion of CFOs expected modest to strong growth. "The bulk of CFOs, at 42 percent, expecting challenging conditions but still with opportunities for growth, 12 percent expect similar results as they're currently experienc...

Do you really need to get your car serviced? How often do you need an oil change? Do you know how to check your tyres? Photo: Unsplash While it's tempting to think that your car is going along okay and could skip its service, don't. "When we see significant motor issues or failures, it's generally because people haven't serviced them," AA mechanic Grant Waters warns in the latest episode of RNZ's Thrift podcast. Grant Waters is a southern franchise manager for the Automobile Association. Before that, he ran the vehicle testing workshops for the southern region. And before that, he was a mechanic. Photo: Supplied Sometimes it's up to five years with no oil or filter, he says. There will be almost no oil on the dipstick and "it's literally turned almost like rock inside there". Foll...

Transport Minister Simeon Brown said the changes were about ensuring CAA was financially stable. Photo: New Zealand Agricultural Aviation Association Agricultural aviators say a proposed increase of its industry levy is a tax on a tax that will disproportionately impact agriculture over other aviation sectors. New Zealand had just over 100 certified agricultural aviators - who sprayed agri-chemicals or fertiliser, worked for conservation purposes or to manage biosecurity threats, and also supported forestry and horticulture. Its governing body, the Civil Aviation Authority (CAA) launched consultation on a raft of proposals around changes and increases to fees, levies and charges. The Crown provided nearly half-a-billion dollars of funding to the CAA since 2020, to cover the loss of reve...