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Business Confidence Hits Three-Year High
Business Confidence Hits Three-Year High

14 January 2025, 8:44 PM

Coasties may find cause for optimism as the latest NZIER Quarterly Survey of Business Opinion (QSBO) reports the highest level of business confidence since 2021. This marks a notable turnaround following years of challenges from inflation and rising interest rates.The survey reveals that a net 9 percent of firms expect an improvement in general economic conditions over the coming months, compared to a net 4 percent who were pessimistic in the previous quarter. Finance Minister Nicola Willis noted that this positive shift reflects growing confidence in the Government’s economic plan."When businesses have the confidence to invest and grow, it means more jobs and higher incomes for Kiwis," Willis said.She added, "Business confidence turning positive for the first time since 2021 is a sign that we’re heading in the right direction, with policies focused on easing inflation and fostering growth."Finance Minister Nicola Willis.However, the survey also indicates that many businesses remain cautious. While general sentiment has improved, a net 26 percent of firms reported a decline in their own trading activity during the December quarter. Hiring and investment levels also remain subdued, with a net 17 percent of businesses reducing staff numbers. Firms are expected to hold off on major investments until they see more consistent signs of demand recovery.Building Sector Drives OptimismAmong the surveyed sectors, the building industry showed the strongest optimism, with a net 29 percent of firms expressing positive expectations for the coming months. This reflects a sharp turnaround from earlier in 2024 when the majority were pessimistic. Despite this, many in the sector reported continued declines in new orders and output, though expectations of a recovery are bolstered by projected construction pipelines for the next 12 to 24 months.The retail and services sectors also expressed confidence about future conditions. While current demand remains soft, lower mortgage rates expected over the coming year could boost household spending. In contrast, manufacturers reported a more cautious outlook, citing higher costs and reduced profitability despite increased export demand supported by a weaker New Zealand dollar.Easing Inflation PressuresEncouragingly, the survey highlighted easing inflation pressures, with fewer firms reporting rising costs or raising prices. A decline in capacity constraints, driven by weak demand, appears to be the primary factor behind this trend.While businesses across sectors anticipate recovery, their caution underscores the delicate balance between optimism and tangible economic growth. As locals keep an eye on economic developments, the survey’s findings suggest a cautiously improving outlook for the Hibiscus Coast and beyond.Have a News story to share?Contact [email protected]

Fresh Strategies Help Small Businesses Thrive
Fresh Strategies Help Small Businesses Thrive

14 January 2025, 7:00 PM

Coasties, as 2025 unfolds, small businesses on the Hibiscus Coast and beyond face mounting challenges, with economic pressures weighing heavily on the sector. However, experts suggest there are effective strategies to improve resilience and profitability, even in these uncertain times.Economic indicators reveal that gross domestic product per capita continues to decline in both New Zealand and Australia. Company liquidations have reached a ten-year high locally, while consumer confidence, despite a slight rise, remains below the long-term average.Senior lecturers Antje Fielder and Benjamin Fath of the University of Auckland, alongside University of Queensland Professor Martie-Louise Verreynne, highlight four key areas small businesses can focus on to navigate these challenges effectively: customers, competition, digitalisation, and management.Prioritising Profitable CustomersBusinesses are encouraged to examine their customer base closely, focusing on retaining profitable clients rather than acquiring new ones at any cost. Research shows that increasing customer retention by just 5% can boost profits by over 25%. Conversely, "bad customers"—those who fail to pay on time, demand excessive resources, or display disloyalty—can drain profitability.Understanding what valued customers want and tailoring offerings to attract similar clients can yield significant returns. Shrinking operations to eliminate unprofitable segments may be necessary for long-term growth.Collaborating Over CompetingAnother strategy involves exploring partnerships with competitors to share costs or take on larger projects. Such collaboration, particularly during economic downturns, can bolster survival rates and lead to unexpected opportunities.In cases where competitors are winding down, small businesses may also find valuable assets, employees, or customers available at reduced costs.University of Auckland Business School senior lecturers (management and international business) Antje Fielder and Benjamin FathEmbracing DigitalisationTechnology, particularly artificial intelligence (AI), offers significant potential for cost savings and efficiency gains. While many small businesses in New Zealand have hesitated to adopt AI, experts suggest it could bridge resource gaps and open new sales channels.Social media platforms such as TikTok and Facebook can also provide alternative avenues to connect with customers and expand market reach. Additionally, businesses that embrace remote work models could attract skilled talent seeking flexible opportunities.Strong Leadership MattersLastly, good management plays a critical role in weathering tough times. Clear goal-setting, regular progress monitoring, and encouraging team performance are essential practices for leaders. Reflecting on personal and professional goals can also provide clarity and renewed focus during crises.As businesses on the Hibiscus Coast adapt to changing conditions, these insights can serve as a roadmap for navigating 2025 successfully.Have a News story to share?Contact [email protected]

Auckland’s City Centre Transformed for Lunar New Year
Auckland’s City Centre Transformed for Lunar New Year

14 January 2025, 1:29 AM

Auckland's city centre will be brimming with vibrant celebrations as the city embraces Lunar New Year. Running from 26 January to 22 February, the festival promises an exciting blend of Asian traditions, local flair, and a wide range of activities for all ages.A key feature of the celebrations is the inaugural Bao and Boba promotion. Diners in the city centre can vote for their favourite restaurant and stand a chance to win exciting prizes.The art scene will also play a major role in the festivities, with a series of sculptures on display. Auckland’s iconic Lucky Cat figurine, believed to bring good fortune, will also make an appearance. A giant, three-metre tall Lucky Cat sculpture will be stationed at the Auckland Town Hall, complete with a Kiwi-style finger-heart gesture. For those looking to dive deeper into the cultural celebrations, Te Hā o Hine (Khartoum Place) and Lorne Street will be transformed into an Asian street festival. Visitors can enjoy food stalls, watch dragon dances, and listen to traditional musicians and buskers. A street dance battle and Tai Chi lessons are also on the agenda.The Auckland Art Gallery will host a variety of activities, including a lion dance performance by Tung Tek, music from DJ EDY and guitarist Sam Nakamura, and family-friendly workshops focusing on traditional dishes like yee sang.Aotea Square will serve as the venue for a spectacular line-up of performances and workshops, from gravity-defying dances to a Lunar New Year karaoke competition. Eric Ngan, director of the Auckland Council Lunar New Year festival, highlights the importance of Auckland’s growing pan-Asian community in shaping the celebrations. “Young Asian Kiwis are proud of their roots, enjoy life in this city, and continue to creatively evolve their traditions,” he said.The Lunar New Year Festival is supported by the city centre targeted rate and promises to offer Aucklanders a unique cultural experience.Have a News story to share?Contact [email protected]

Ecostore Pledges $323,000 to Safety Upgrades
Ecostore Pledges $323,000 to Safety Upgrades

13 January 2025, 6:45 PM

Locals may recognise Ecostore as a household name, but the company’s recent safety commitment is set to make waves in workplace health and safety across New Zealand.Ecostore has pledged over $323,000 towards a significant overhaul of its health and safety practices following a March 2023 workplace incident at its Pakuranga factory, where a worker sustained chemical burns to his eyes.WorkSafe New Zealand’s investigation revealed gaps in personal protective equipment (PPE), training, and emergency management. In response, Ecostore applied for an enforceable undertaking, a legally binding agreement to implement improvements rather than face prosecution.The company describes its response as a "holistic cultural shift," which includes the following measures:Installing AI-driven CCTV systems to monitor and alert workers of potential hazards in real time.Introducing a new working platform and additional controls to reduce exposure to hazardous substances.Providing reparation to the injured worker.Funding a Blind Low Vision NZ pilot programme aimed at supporting businesses in employing visually impaired staff, with a focus on health, safety, and inclusion.Creating and delivering a webinar with the Employers and Manufacturers Association to share insights from the incident and prevent similar occurrences in other workplaces.WorkSafe’s regulatory support manager, Mark Horgan, praised the initiative, saying, “Businesses must manage their risks, and chemical safety is non-negotiable. We are pleased to see Ecostore putting things right and being a change-maker in the manufacturing and distribution sector.”WorkSafe will closely monitor Ecostore’s progress and retains the right to resume prosecution if the agreed commitments are not met. Horgan further highlighted that the company’s financial investment surpasses what courts may have ordered in penalties, demonstrating a substantial commitment to safety improvements with community and industry benefits.Manufacturing remains one of New Zealand’s most hazardous industries, with exposure to dangerous substances being a key concern. WorkSafe’s new strategy prioritises reducing high-risk harm across the sector, reinforcing the importance of proactive measures like Ecostore’s to keep workers safe.Have a News story to share?Contact [email protected]

Cooler Temperatures Persist Across New Zealand
Cooler Temperatures Persist Across New Zealand

13 January 2025, 3:31 AM

Locals across the Hibiscus Coast and beyond can expect another week of settled, mostly dry weather, according to the latest forecast from MetService. Cool temperatures are predicted to continue in the east early in the week, while warmer, humid air may bring rain as the weekend approaches.MetService Meteorologist Surprise Mhlongo explained the current weather patterns, saying, “Cool temperatures are expected to stick around this week, especially in the eastern areas thanks to the southerly flow driven by a high-pressure system that’s currently dominating New Zealand. However, western areas and the lower South Island continue to be the best places to be this summer, with Wanaka temperatures forecast to average 28°C this week while the West Coast basks in sunshine.”While temperatures remain cooler in some regions, mainly fine weather is expected across much of the country. Mhlongo added, “Even though there could be days of a few showers in some places during the morning and afternoon, it will be a mainly fine week for the southern North Island, with dry but cold evenings.”Towards the end of the week, a shift in conditions is anticipated as a complex low-pressure system from the north moves towards New Zealand. This system is expected to bring rain and warmer temperatures, beginning with Northland on Friday.“A band of rain and strong warm northeasterly winds may move onto Northland on Friday, gradually spreading to Auckland during the day. At this point, there is still some uncertainty on the amount of rain that we might see there, so we advise everyone to keep up with our local forecasts for your weekend plans,” Mhlongo advised.(Photos/Supplied)Have a News story to share?Contact [email protected]

Home Values Dip in December
Home Values Dip in December

12 January 2025, 10:00 PM

Coasties may be interested to know that the national median value now stands at $803,624, a 3.9% decrease from the same time last year.This translates to a drop of around $32,200.According to CoreLogic's hedonic Home Value Index, property values nationwide fell 0.2% in December, marking the ninth drop in the past 10 months.CoreLogic NZ Chief Property Economist Kelvin Davidson noted that December's fall in values at the national level was an apt summary for 2024."Since the mini-peak back in February, property values have drifted lower at a modest pace," he said.Davidson pointed out that there has been a discernible slowdown in the rate of decline in recent months, potentially signalling that the floor for property values could be within reach.Around the main centres, a slightly more consistent picture is emerging, with Hamilton rising by 1.0% in December, Tauranga by 0.4%, Dunedin 0.3%, and Christchurch holding steady.However, most of Auckland's sub-markets saw falls in property values in December, ranging from a modest decline of 0.1% in Manukau, up to 0.5% in Rodney, and a fall of 0.7% apiece in Auckland City and Franklin.North Shore bucked the trend, ticking up by 0.1% in December.Looking ahead to 2025, Davidson expects the property market to be influenced by conflicting forces, including lower mortgage rates and labour market uncertainty."Our expectation is that values could increase by around 5% in 2025 across NZ as a whole," he said.Davidson also noted that the recent falls in property values may well come to an end shortly, but the effect of debt to income ratio rules could be a significant factor in the year ahead.Have a News story to share?Contact [email protected]

Bank told to reimburse $30,000 after scammer impersonates staff
Bank told to reimburse $30,000 after scammer impersonates staff

12 January 2025, 8:14 PM

A woman who was caught by a scammer who made it look as if his phone number was the same as her bank's is to be reimbursed the $30,000 she lost.The Banking Ombudsman looked into her case in December.She received a call from someone who said he worked for her bank and had identified some unusual transactions in her accounts.He said he would suspend her internet banking and cancel payments and she would receive codes for these actions, which she should read out to him.She checked the number he was calling from and it matched the number on the bank's website, so she followed his instructions.But she became suspicious when he said he needed to move her money to a safe account. She called the bank and found it was a scam.The man had taken $30,000 from her credit card and had tried another large payment that had been blocked.She spent an hour-and-a-half on the phone explaining what happened. Bank staff arranged to replace her credit cards and suspended her internet banking.After getting off the phone to the bank, the woman called the Auckland outlet where the scammer had made purchases but the goods had been picked up 15 minutes earlier.The merchant would not agree to return the money because the goods had gone.The woman asked the bank to reimburse her because she had not authorised the payments."She also said the bank might have prevented the loss if it had acted promptly when taking their fraud report and trying to recover the money," Banking Ombudsman Nicola Sladden said."The bank refused her request, saying she had shared the text code used to authorise the payment - an action that was in breach of the bank's terms and conditions. Nonetheless, it offered to reimburse half of the loss."[She] said the bank's basis for declining her request - that she had shared the codes - was unfair because the bank had asked [her husband] to do the very same thing itself - to read out a code sent to him via text message [when it was setting up two-factor authentication for him]."The Banking Ombudsman noted the code of banking practice requires banks to reimburse unauthorised transactions unless a customer has acted negligently or dishonestly, failed to take reasonable steps to protect his or her banking or breached the bank's terms and conditions.Sladden said the woman had taken reasonable care because she checked the number the call came from was the bank's."It had appeared to be so, but the scammer had spoofed the number, that is, falsified the number displayed on her phone's caller ID."The scammer "skillfully mimicked" the way that real banks interacted with customers.The messages accompanying codes did not warn against sharing them, and the explanation the scammer gave for resharing the codes was sufficiently close to their true purpose to trick a real person. The woman had hung up and called the bank as soon as she became suspicious about the caller's real identity."In addition, we had concerns with how the bank had handled their fraud report, and thought that better handling could have resulted in the loss being prevented."It was recommended the bank reimburse $30,000 plus $1000 for delays in handling the case.Sladden said it was a sophisticated bank impersonation case.She said bank impersonation cases were almost a quarter of all the fraud and scam cases received this financial year.

Gaël Force: Monfils triumphant at 2025 ASB Classic
Gaël Force: Monfils triumphant at 2025 ASB Classic

11 January 2025, 3:44 AM

Gaël Monfils has won the 2025 ASB Classic men's singles, in doing so becoming the oldest winner of an ATP tournament.At 38, he breaks a record held by one of the sport's immortal players, Roger Federer. The 6-3 6-4 win over Belgian Zizou Bergs was expected given the ranking disparity between the two, but still impressive given that Monfils started on the ATP tour when Bergs was only five years old.Although Monfils was down 0-30 in the first game, he went on an early rampage to take command early by breaking Bergs in the second game then punishing him in the next. Monfils has been incredibly adept this week at dictating the pace of his matches, and this time he simply went to top gear straight away to gain a 3-0 advantage.The veteran's experience was on show throughout as he didn't waste any energy chasing any wild points, content to close the set out.There was a slight delay when a spectator suffered a medical event and had to be assisted from the venue, but it didn't disrupt the way the match was playing out.The second set had an almost identical narrative to the first, Monfils breaking Bergs early and simply taking his points. Apart from a little jam where he found himself down 0-40 at 3-2 and then a tense back and forth on deuce in the last game, it was a straightforward route to an ultimately comfortable victory.This is a great win for Monfils, who was at the brink of being eliminated in his first match, against Spain's Pedro Martinez. Monfils was down a set at down 4-1 in a tiebreak before rallying, he continued that form throughout his next matches and didn't drop another set on his way to the title.It's the current world number 53's 13th ATP tournament win in a remarkable career stretching back to 2004.He's showing no signs of slowing down either. While he said during the week he has no more specific career goals after representing France in last year's Paris Olympics, there was no mention at all of retirement."I always have a fighting spirit, so I feel people know that I'm a warrior on the court and I'm not [going to] give up that easy," he said earlier in the week."So I'm very pleased with the way I get through because it wasn't easy."It's a big win for the tournament also, given that Monfils was the last big name player in the draw, after second round carnage saw all four top seeds knocked out. Tournament director Nico Lamperin doubles as Monfils' agent, so the likelihood of him returning to defend his crown next year should be high.Both men move on to the Australian Open next week, with Monfils playing fellow Frenchman Giovanni Mpetshi Perricard in the first round, while Bergs has drawn this week's quarterfinalist Facundo Diaz Acosta of Argentina.

Record Highs Reached for Ocean Temperatures
Record Highs Reached for Ocean Temperatures

10 January 2025, 6:15 PM

Locals on the Hibiscus Coast and around the world are witnessing unprecedented changes in ocean temperatures, as 2024 marked the warmest year on record across three vital global metrics.According to Dr Kevin Trenberth, an honorary academic at the University of Auckland, the three metrics—global mean surface temperature (GMST), global sea surface temperatures (SST), and global ocean heat content (OHC)—all reached record highs in 2024. This simultaneous increase has not occurred since 2016.The OHC, considered the most reliable indicator of a warming planet, showed an increase of 15 zettajoules from 2023 to 2024. This is equivalent to 140 times the world’s total electricity generation in 2023. Dr Trenberth emphasised the significance of OHC as it integrates all heating, providing a clear picture of the planet's warming.From April 2023 to June 2024, global SSTs also reached record levels, peaking in February 2024 with a value exceeding 19.1 degrees Celsius. This warming was influenced by an El Niño event that began in April 2023 and waned by mid-2024. As the El Niño subsided, SSTs declined, though the lingering effects of elevated ocean temperatures persisted.University of Auckland honorary academic Dr Kevin Trenberth.Dr Trenberth explained that the warming oceans contribute to increased atmospheric moisture, exacerbating weather extremes. "The increased water vapour fuels storms, leading to heavier rains, hurricanes, typhoons, and cyclones," he said. Severe droughts, wildfires, and extreme weather events were recorded worldwide in 2024, including mass bleaching of the Great Barrier Reef and devastating hurricanes in the Caribbean.Atmospheric carbon dioxide levels also reached record highs, now exceeding 425 parts per million, more than 50 percent above preindustrial levels. Human activities, primarily fossil fuel combustion, remain the dominant driver of these increases, with additional contributions from wildfires.While the impacts of warming oceans are global, they vary regionally due to weather patterns and marine heatwaves. These changes affect marine ecosystems, agriculture, and human health, underscoring the urgent need to understand and address these challenges.Dr Trenberth concluded, "Increased awareness of the risks and investment in resilience to weather extremes is always a good step forward."Have a News story to share?Contact [email protected]

Noah, Isla Top NZ Baby Names
Noah, Isla Top NZ Baby Names

10 January 2025, 1:00 AM

Coasties may notice some familiar names making waves across the country.The Department of Internal Affairs has released New Zealand’s most popular baby names for 2024, with Noah and Isla claiming the top spots.Noah remains a favourite for boys, holding the number one position for the second consecutive year.A total of 250 newborns were named Noah in 2024.Isla, a perennial favourite, reclaimed its position as the most popular girls’ name with 190 babies sharing the name.This marks the third time in five years that Isla has led the rankings for girls.Minister of Internal Affairs Brooke van Velden shared some insights into naming trends across the regions."Noah dominated in the North Island, particularly in Auckland, Waikato, Taranaki, and Northland, while Jack was more popular in the South Island, topping the charts in Canterbury, Otago, and Southland,” she said.“For girls, there was more variety, with names like Charlotte, Amelia, Lily, Harper, Aria, and Ella taking top honours in different areas."In total, the Department registered 59,199 births last year, with an impressive 19,404 unique names recorded.While traditional names remain a mainstay, Minister van Velden noted the popularity of first names linked to current political leaders.Prime Minister Christopher Luxon's name was given to 24 babies, while Deputy Prime Minister Winston Peters’ name was chosen by fewer than five families.Minister David Seymour’s name proved more popular, with 62 newborns sharing it.Minister van Velden also highlighted the importance of registering births promptly."Registering your baby in New Zealand is an important first step in ensuring they have an official identity and access to their legal rights. SmartStart, a platform hosted by the Department of Internal Affairs, is a quick and free way to register and offers guidance for families about the first years of parenting."The Department recommends that parents register their child within the first two months of birth.To explore the full list of 2024’s top baby names, as well as historical data dating back to 1954, visit the SmartStart website at https://smartstart.services.govt.nz/news/baby-namesHave a News story to share?Contact [email protected]

Man Arrested Following Hours-Long Chase
Man Arrested Following Hours-Long Chase

09 January 2025, 9:45 PM

A dramatic hours-long chase through northern Auckland ended with a man being arrested after hiding up a tree.Locals in the Hibiscus Coast area witnessed a significant Police presence on Thursday evening, as officers responded to a report of a vehicle stolen at knife-point in Henderson.According to Acting Detective Inspector Simon Harrison, Waitematā CIB, Police observed the vehicle at a service station in Red Beach around 5:30 pm and signalled for it to stop. However, the vehicle drove off at speed.The Police Eagle helicopter tracked the vehicle as it drove at high speed and in a dangerous manner around the Waitematā North area. The vehicle was later observed in Warkworth, where it allegedly rammed a patrol car parked on Radiata Road.Thankfully, no one was injured, but Acting Detective Inspector Harrison expressed concern for the safety of Police staff.The driver then allegedly fled on foot into nearby bush and was unable to be located initially.However, Police received a call from members of the public just after 11:30 pm, reporting a person walking through a rural property on Hodgart Road.The Eagle helicopter located the male at about 2:15 am, and he was found hiding up a tree. The male was aggressive towards staff and was subdued using OC spray.A 35-year-old man has been charged with aggravated robbery, failing to stop, dangerous driving, aggravated assault, two counts of assaults with a weapon, and resisting Police. He is set to appear in Waitākere District Court today.Have a News story to share?Contact [email protected]

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