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Mark Bryers clocks up five months in custody
Lachlan Colquhoun
Thu, 21 Nov 2024
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Regional deals must focus on economic growth and infrastructure
The Government is inviting all regions to submit proposals for regional deals, and hopes to finalise the first regional deal by the end of next year. Local Government Minister Simeon Brown said the deals between local and central government were all about driving economic growth and delivering infrastructure the country needed. “As part of our plan to rebuild the economy and address the infrastructure deficit, regional deals will be relentlessly focused on supporting economic growth, improving the supply of affordable housing, and establishing long-term commitments by both central and local government to enable certainty with a pipeline of infrastructure that delivers New Zealanders,” Brown said. He said he had made it clear to councils he expected proposals centred around key infrastructure, housing, and transport priorities within each region.
Stripe enables NZ businesses to accept contactless payments
US financial services giant Stripe has partnered with Apple to introduce Tap to Pay on iPhone in a New Zealand first that will allow businesses to accept payments using just their phone.
The move will see businesses able to accept all forms of contactless payments using only an iPhone and a supporting app, with no additional hardware or payment terminal needed.
“As New Zealand consumers are continuing to adopt digital payments, we’re thrilled to introduce Tap to Pay on iPhone, giving businesses more ways to accept contactless payments and deliver a seamless and secure customer experience,” Stripe New Zealand head Ben Hanna said. “With this easy-to-deploy technology, New Zealand businesses can now accept contactless payments from more customers, in more locations, and scale their operations rapidly.”
Revenue and subscription gains at IkeGPS, deeper HY loss
Dual-listed ikeGPS Group has reported a half-year revenue boost despite also booking a deeper financial loss.
The company’s technology helps utilities such as lines companies manage their pole infrastructure.
Its total revenue rose 15% to $12.2 million in the six months ended September, with subscription revenue up 28% to $6.5m, when compared with the same period last year.
The company’s net loss was $6.9m, compared with a loss of $6.4m last year.
Chief executive Glenn Milnes said the company invested significantly to build five new products, three of those launched in the first half, while it added new customers.
“We believe macro-market tailwinds across North America remain highly supportive of Ike’s business and will continue to grow over the coming decades. Our North American-headquartered team is executing on sizable sales opportunities.”
He was optimistic about market share and customer gains through the remaining six months of the financial year.
Infometrics survey highlights lingering regional economic pain
New Zealand regions are still under severe economic stress, with business conditions tough despite recent interest rate cuts, Infometrics says.
The latest Quarterly Economic Monitor shows a flat level of economic activity over the past 12 months to September.
Infometrics chief executive and principal economist Brad Olsen said provincial and rural areas were feeling the pinch the hardest, while ‘metro’ areas experienced a small increase in activity. Construction and retail trade industries were hardest hit.
Olsen said households were still cautious. “Personal income tax cuts took effect during the September quarter, and interest rates eased more over the quarter, but the impact of these two changes haven’t hit the economy immediately.
“Higher unemployment is set to weigh on household spending until 2025, and until households re-fix onto lower interest rates now on offer.”
On the positive side, Olsen noted green shoots, with higher dairy prices and meat prices recovering.
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