Business

Photo: RNZ / Angus Dreaver The cost of workplace accidents rose to $4.9 billion in 2023, up from $4.4b the year before, a new report shows. The State of a Thriving Nation report was released by the Business Leaders' Health and Safety Forum on Monday. Written by economist Shamubeel Eaqub, the report tallied the cost of lost lives and earnings, serious injury costs to ACC, and health issues to reach the $4.9b figure. "Catching up to Australia's performance would save New Zealand $1.4 billion each year, and if we were to match the UK's performance, we would save $3.4 billion per year," the forum's chief executive Francois Barton said. The report also found that close to 50 percent of New Zealanders had been affected by a workplace accident involving either themselves, a colleague, their fam...

Photo: New Zealand's food system is in "disarray", with major cross-sector challenges to resilience, a leading scientist says. There was a growing need for a national food strategy to improve the country's food resilience, Te Whare Wānaka o Aoraki Lincoln University Professor Alan Renwick said. Food systems needed to withstand shocks from international conflicts or disasters, as well as deal with accessibility and health concerns, he said. One example cited by Renwick was of price shocks during the Covid-19 pandemics. He said food price inflation during that time was more severe and persisted longer in New Zealand than elsewhere. That was partly to do with a food system that was very reliant on imports and a concentrated agriculture system, he said. "The idea to me about food system res...

The Silver Shadow cruise ship in Taranaki during the last cruise season. Photo: Supplied Fewer cruise ships could visit New Zealand if border levies are increased at short notice as is planned, the sector says. The cruise industry said proposed changes to the border levy were being made with too little warning, and it could turn companies off visiting. Customs and the Ministry for Primary Industries have proposed the new border fees, to be effective from 1 December. Consultation opened mid-July with calls for public submissions closed on 9 August. Under the proposal, border levy rates reduce for all air travellers and for sea travellers who do not arrive by cruise ship. By contrast, arriving cruise ship travellers would face an 88 percent increase in customs fees, from $11.48 to $21.54....

RNZ's money correspondent Susan Edmunds. Photo: RNZ If you have a question you'd like answered, email susan.edmunds@rnz.co.nz I feel like I have heard the Reserve Bank saying it wants more unemployment, as part of its efforts to bring down inflation. It seems to be like a broken system if we need more people to be unemployed but then we slap them down when they are unemployed? You're right that the Reserve Bank has been trying to slow the economy to bring down inflation - it talked quite early on about engineering a recession. This week it indicated that the effect of monetary policy has probably been so strong that it's going to have sent us into another one, too. As part of that, unemployment rises. (The government last year removed the Reserve Bank's dual mandate which required it ...

Consumer NZ says it is concerned grocery shoppers are being asked to spot price discrepancies and put them right, when it is the retailers' responsibility. Kiwis may be losing tens of millions of dollars a year due to supermarket pricing errors, according to the Grocery Commission. It is planning to force the major players to publicise customer complaints saying it will create a commercial incentive for supermarkets to make fewer mistakes. The groceries sector was a $25 billion industry and had had years to perfect its system for charging, commissioner Pierre van Heerden told Morning Report. He wants supermarkets to give shoppers the item for free if they report they have been overcharged. Consumer NZ's head of research and advocacy Gemma Rasmussen said the commission should be monitoring ...

Photo: 123RF Every supermarket that overcharges for items should allow the customers to have them for free, the grocery commissioner says. Kiwis may be losing tens of millions of dollars a year due to supermarket pricing errors, according to the Grocery Commission. It's planning to force the major players to publicise customer complaints saying it will create a commercial incentive for supermarkets to make fewer mistakes. The biggest number of complaints to the Commerce Commission was from supermarket shoppers and most centred on overpricing, commissioner Pierre van Heerden said. The groceries sector was a $25 billion industry and had had years to perfect its system for charging, he told Morning Report. Examples of errors included charging normal prices for items on special or overchar...

It is time for supermarkets to step up over repeated pricing errors that may be making a big dent in pocketbooks for many, customers say. It comes after Consumer NZ found 65 percent of shoppers were noticing pricing inaccuracies at the supermarket and 12 percent were spotting them rather frequently. In Nelson, the shoppers RNZ spoke to were in the habit of checking their receipts. Liza recently took something back to the supermarket after she was charged the wrong price for it. "It was just something that had been reduced and I bought it for that reason, and I was fortunate enough to get a refund." But she said supermarkets could be doing more - especially given how expensive it was to get by these days. "My personal opinion is that people are doing it tough here in New Zealand and the [...

Photo: 123rf Auckland bottle shops are concerned they could go out of business if forced to close their doors at 9pm. The council has proposed stricter alcohol sale times for supermarkets and liquor stores across the region. It would also implement a freeze on new liquor stores in the central city and 23 other "priority areas" mostly in south and west Auckland for the next two years. The changes are part of a new Local Alcohol Policy for the city. The policy has been in the works since 2008 after South Auckland liquor store owner, Navtej Singh, was shot while working, dying in hospital the next day. A Karangahape Road business owner strongly opposed to the rule change said: "I don't think it's a good idea. Many customers want a drink on the weekend. If we close early it's going to be so ...

Photo: 123RF Settlement looks to have met A2 Milk's major demands Synlait accepts loss of manufacturing exclusivity A2 Milk to participate in much needed Synlait capital raising Dairy companies Synlait Milk and A2 Milk have reached a conditional settlement of their dispute over the manufacturing and supply of infant formula. The companies have been in arbitration over the near year-long dispute caused by A2 Milk's (ATM) cancellation of a key part of their long running contract, which gave Synlait exclusivity in supplying infant milk formula products sold in China, Australia and New Zealand. Synlait's chief executive Grant Watson said settling the dispute was another step in the company's recovery. "With the disputes behind us, we are pleased to be able to confirm to our shareholder...

The manufacturing sector remains deep in contraction. Photo: UnSplash/ Silvia Brazzoduro The manufacturing sector remains deep in contraction, with last month's reading only slightly better than June's dreadful result. The BNZ-Business New Zealand Performance of Manufacturing Index rose 2.8 points in July to 44.0 points, which was an improvement on June's 41.2 reading. But the latest reading was still well below 50 points, which indicates contraction. "The manufacturing index in July, I guess the best thing you can say about it is that it was a little bit better than June," BNZ senior economist Doug Steel said. "But June was dreadful, so a little bit less dreadful in July, but still fairly challenging conditions for manufacturers out there at the moment." The ongoing lack of demand had ...