DGL Group says it will appoint an advisory firm to conduct a “thorough, independent” review of its culture after its chief executive, Simon Henry, called celebrity chef Nadia Lim “a bit of Eurasian fluff”. It also intends to review the company’s senior executive pay structure. The company’s remuneration committee would come up with a plan to implement “a balanced scorecard […]

Auckland Airport is spending $300 million on a transport hub and setting aside land for light rail near its international terminal. The company is also installing a $100m new smart baggage hall and system designed to transform luggage handling as part of a planned combined domestic and international terminal. Built to double height, the ground floor of the four-storey building […]

FILE PHOTO: A person shops at a Trader Joe’s grocery store in the Manhattan borough of New York City, New York, U.S., March 10, 2022. REUTERS/Carlo Allegri(Reuters) – U.S. consumers’ inflation expectations one year from now dipped in April but their view of inflation over the medium-term rose and household spending expectations also climbed to a record high, according to […]

The United States Federal Reserve’s economical interest rate rise triggered a new surge on Wall Street and a solid gain for the New Zealand sharemarket. There was relief, that sprung around global markets, when the Fed overnight raised its cash rate 50 basis points to a range of 0.75 — 1 per cent, instead of increasing by 75 basis points. […]

BEIJING (Reuters) – The decline in Chinese factory activity likely steepened in April, a Reuters poll showed, as extensive lockdowns halted production and disrupted supply chains, boding ill for the economic outlook in the second quarter.FILE PHOTO: A worker works at Xunxi factory, which is an affiliate of Chinese e-commerce giant Alibaba, during a media tour, in Hangzhou, Zhejiang province, […]

OMAHA, Neb. (Reuters) – Warren Buffett’s Berkshire Hathaway Inc will hold its annual shareholder meeting in person on Saturday for the first time since before the pandemic, but the extravaganza dubbed “Woodstock for Capitalists” is likely to see fewer people and pared-back events.FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from […]

SHANGHAI (Reuters) – Some Chinese state banks, such as Bank of China and Bank of Communications, will cut deposit rate ceilings on Monday, joining smaller lenders, sources told Reuters.FILE PHOTO – A man stands on a bank of the Huangpu river in Pudong, amid the lockdown in the Pudong area, to contain the spread of the coronavirus disease (COVID-19) in […]

OPINION: Scams appear to be exploding in New Zealand. I suffer daily calls from different numbers for crypto scams, Visa credit card and Spark scams, and most recently scams where you need to pay to release a fictitious parcel for delivery. Many of us know victims. What worries me more is not the scams we know about, but the ones […]

OPINION: High inflation is hitting Kiwis in the pocket. The Reserve Bank is lifting interest rates to tighten the money supply and get on top of inflation, but for most home owners that’s just making the pain worse in the short term. Yesterday, in his speech to the IMF, Reserve Bank Governor Adrian Orr noted that central banks can’t beat […]

OPINION: The Reserve Bank has opted to turn up the volume in its message to businesses setting prices: if you are thinking of raising them, think twice. Central banks know how to deal with inflation that threatens to become an entrenched, widespread, chronic condition. They have done it before. The treatment is to drive interest rates up, and asset prices […]