Business

Reece McDonald, a well-known figure in Southland's business and community circles, has passed away suddenly at the age of 47. McDonald owned the Invercargill photocopying business Good Tech, previously operating as Ricoh. Reece became president of the Southland Business Chamber earlier this year. In addition to his business

The New Zealand Government is set to reform the country's Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) system, aiming to reduce the regulatory burden on businesses. Associate Justice Minister Nicole McKee announced that these changes would streamline processes while ensuring regulations remain effective for businesses, law

* New Zealand’s banks will launch the Confirmation of Payee service by November 2024. * This service helps customers ensure the payee’s name matches the account number before payments. * Full implementation across digital banking platforms is expected by Easter 2025. New Zealand’s retail banks are set to introduce the

* The Reserve Bank has lowered the OCR by 0.5%, citing subdued economic activity. * Retail banks, including Kiwibank, ANZ, and ASB, promptly reduced their variable rates. * Finance Minister Nicola Willis welcomed the cut, highlighting potential relief for households and businesses. The Reserve Bank of New Zealand has announced a 0.

* Air New Zealand to cut direct Invercargill-Wellington flight from January 2025. * Mayor Clark and Southland Business Chamber CEO raise concerns over regional connectivity. * Air New Zealand cites low demand and aircraft shortages for cutting the direct route. Air New Zealand has announced it will discontinue its direct flights between Wellington

* Fonterra's revised strategy focuses on Ingredients and Foodservice to drive growth. * The Co-op plans to divest its Consumer businesses and improve financial returns. * New targets include a 10-12% return on capital and increased dividend policy. Fonterra Co-operative Group Ltd has unveiled its updated strategy, which shifts focus towards

Southland’s business enterprises were front and center when the Minister of Small Business and Manufacturing, Andrew Bayly, visited Invercargill yesterday. "I had a really interesting day in Invercargill, meeting a range of successful businesses with my wonderful colleague, Invercargill MP Penny Simmonds," said Mr. Bayly. "Many

* Timaru's Alliance Smithfield plant could lose 600 jobs under a new proposal. * A 21-day consultation period will end, with a final decision expected by October 18. * Declining sheep numbers and land-use changes have led to a surplus in processing capacity. Hundreds of jobs at Timaru’s Alliance Smithfield