Business

The team at Mitre 10 MEGA Invercargill are all buzzing this morning after customer Sharen Watson from Nightcaps was the lucky winner of the $20,000 prize draw at the weekend. Store general manager Tracy Key said despite the soggy weather on Saturday morning, there was plenty of excitement for

* Meridian and NZAS have agreed on a 50MW power reduction for winter 2025. * The reduction will take effect from 10 March to 31 August 2025. * Meridian may call for further demand reductions in April 2026. Meridian Energy Limited and New Zealand Aluminium Smelters Limited (NZAS) have reached an agreement to

PowerNet has announced that its Chief Executive Jason Franklin will resign on 2 April 2025, after more than a decade leading the Invercargill-based energy distribution company. He will take on the Chief Executive role at Powerco later that month, overseeing New Zealand’s second-largest electricity and gas distributor, which serves

* Fonterra has started construction on a UHT cream plant in Edendale, Southland. * The $150 million project will create 70 jobs and double capacity by 2030. * Production will meet growing Asian demand, starting with 50 million litres annually. Construction has officially begun at Fonterra’s new ultra-high temperature (UHT) cream plant

The Commerce Commission has released a draft decision that could dramatically reduce the fees businesses pay for accepting Visa and Mastercard payments, potentially saving New Zealanders over $260 million annually. “These fees are passed on to consumers through the cost of goods and services, and surcharges,” the Commerce Commission stated.

* Aparima College students won top honours at the national Young Enterprise Scheme awards. * Their business, Treet Yourself Contracting, impressed with its focus on sustainability and innovation. * The YES programme fosters entrepreneurship in secondary schools, connecting students with business leaders. Students from Aparima College in Riverton have claimed the top prize

It’s been a great year for Mandy Jordan from The Mortgage Supply Co - with the team clocking over 100 contracts in 2024 and the years not over. Business has been strong because Southlanders are “amazing and resilient” and know that home ownership is a long term game, she

* Fonterra raises FY25 Farmgate Milk Price midpoint to $10 per kgMS, citing strong demand. * Strategic investments include new UHT cream plant and protein production upgrades in New Zealand. * Q1 profit of $263 million reported, with focus on high-value products and operational efficiency. Fonterra Co-operative Group has raised the forecast Farmgate