Business

Photo: 123RF The head of an Auckland babysitting agency says the price rise for the service is due to the change in role - as people are requiring more of babysitters. In February, app Pay the Nanny estimated the nationwide hourly rate was $29.40 and in Auckland, just over $30. The maximum hourly rate was $50. Caresies, another app linking babysitters and families, estimated an average hourly rate of $30 to $35. Tanya Pease from the agency Auckland Babysitters told Checkpoint people were now looking at babysitters in a different light. "They used to be your 15-year-old next door who would come over and look after the kids while the parents went for dinner," she said. "Now, the babysitters are helping with housework, they are helping with teaching, they are helping with pick-ups and drop-...

The money was a $5000 donation to a charity, but was put in the wrong account. Photo: 123RF A woman who received thousands of dollars in an accidental transfer to her bank account says it was more difficult to return the money than expected. The money was a $5000 donation to a charity, but one wrong digit meant it had turned up in a Kiwibank account she managed. When she noticed the money last month, she got on the phone to her bank to have the funds returned, but said the process was far from clear. "Our first move was to actually phone Kiwibank and go, 'How do we give some money back'?" the woman, who wished to remain anonymous, said. "I was quite surprised. I thought they might have been, 'Hey, thanks for bringing this to our attention well, here's the process,' but the focus was mor...

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...

Credit card applications are up 5 percent on last year, but are still 40 percent down on 2019 levels. Photo: 123RF Demand for consumer credit continues to fall, with business liquidations on the rise. The latest report by credit bureau Centrix also indicates an improvement in the number of consumer arrears in July, though demand for credit was down 3 percent on the year earlier, along with a 22 percent drop in new car loans. "There is a drop off in discretionary spending, so things that aren't required, such as motor vehicles, have really slowed down as far as consumer demand is concerned. They're just not spending money," Centrix managing director Keith McLaughlin said. He said the Reserve Bank's 25-basis-point cut to the official cash rate last month had sparked a round of interest ra...

Cyber attacks that take down entire computer systems are becoming increasingly common. Photo: RNZ Small and medium sized businesses have a one in three chance of being the target of a cyber attack. New research from the National Cyber Security Centre, which is part of New Zealand's Government Security Bureau (GCSB), reveals that despite the high risk, many businesses do not put cyber security measures in place until it was too late. NCSC works to provide trusted and authoritative information and advice, while also collating a profile of the threat landscape in New Zealand. Director Michael Jagusch says businesses need to improve their defences before they're attacked. The latest NCSC research - the Cyber Security Behaviour Tracker - found 36 percent of small and medium businesses (SMEs)...

Photo: RNZ There are some indications that home loan borrowers may have taken heed of the Reserve Bank's May warning that interest rates could rise further - and fixed their mortgages for longer terms as a result. In May, the Reserve Bank said its monetary policy committee had discussed whether another increase in the official cash rate was appropriate. It published a forecast in which the OCR was likely to increase again towards the end of this year. Then in August, it cut the OCR by 25 basis points and signalled more reductions were likely to follow. Data from the Reserve Bank relating to new loans and top-ups - not those refixing - shows that the proportion of lending on a six-month rate fell from 18 percent to 16 percent from May to June. At the same time the proportion fixed for a y...

The number of over-65s who are renting could double by 2048. File photo. Photo: 123rf / Warren Goldswain Some pensioners are spending up to 95 percent of their superannuation on rent. In the next instalment of RNZ's Crunching the Numbers series, Checkpoint spoke to some superannuitants about how they are forced to navigate sky-high rents and few accommodation options, instead of being able to settle into a comfortable retirement. The issue is only expected to get worse, with the Retirement Commission estimating the number of over-65s who are renting could double by 2048, to more than 600,000. A pensioner in Whanganui - who Checkpoint agreed not to name - pays $450 a week for her two-bedroom rental, with just $70 dollars left over from her pension. She has to work part-time to cover her ...