business

Costco’s $100 million Auckland store unlikely to open this month

The opening of Costco’s $100 million Auckland store has been delayed by weather and ongoing construction delays. The big box retailer had planned to open its three-storey megastore at the end of the month, but was now unable to commit to an opening date. In a statement, Costco managing director Patrick Noone​ said construction of …

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Four out of five New Zealanders investing, research shows

Investing is growing in popularity with most New Zealanders managing their finances online, research shows. The survey showed 88 percent of New Zealanders had used digital services for banking, insurance and KiwiSaver. Photo: 123RF The Financial Services Council’s (FSC’s) latest research report titled Money and You: Investing in volatile timesindicates four out of five New …

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Suncorp says profit fell 23%, warns of higher premiums for homeowners

Insurance giant Suncorp New Zealand’s after-tax profits slipped 23%​ to $165 million in its most recent financial year​, despite a huge increase in premiums paid by Kiwi home, car and business owners. The insurer’s profit drop for the 12 months to the end of June was the result of high inflation, and multiple extreme weather …

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The average build cost, excluding land, for a new stand-alone house increased by $75k in the June year

The latest quarterly building consent figures suggest the number of new homes in the construction pipeline is flattening off after peaking in the third quarter of last year. According to Statistics NZ, the number of new dwelling consents issued throughout the country peaked at 13,251 in the third quarter of 2021. Since then it has …

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Disengaged, indifferent, deluded? Why young workers have an image problem

“Younger workers also have a far better idea of ​​how their job compares with what is on offer elsewhere, thanks to endless social media updates.” Photo / Helena Lopes, Unsplash OPINIONS: Not that long ago, Mark Zuckerberg logged in to a Q&A session with his staff that I would very much like to have seen. …

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2degrees launches eSIM capabilities so Kiwis can say goodbye to SIM cards

“The real benefit to users is that they can have two SIMs active on a single handset,” said Zac Summers, 2degrees chief marketing and strategy officer. “This is ideal for those who currently juggle a work and personal mobile, want to use a local SIM while roaming overseas, or have a backup service on their …

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Did the RBNZ’s Covid-19 response follow a misdiagnosis of the problem?

By Gareth Vaughan The Reserve Bank’s response to the Covid-19 pandemic followed a misdiagnosis of the problem, and we ought to use an inquiry to develop a blueprint for managing future challenges, says The Opportunities Party (TOP) Leader Raf Manji. Speaking in interest.co.nz’s Of Interest Podcast, Manji says any inquiry into the Reserve Bank’s response …

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Less than a dozen properties sold under the hammer at Barfoot & Thompson’s latest auctions

Activity continues to bounce along the bottom in Barfoot & Thompson’s auction rooms as the market remains on its winter lows. Auckland’s biggest real estate agency offered 71 residential properties at its latest auctions, 30 July to 5 August, which was a slight tick up from 59 the previous week, but exactly the same number …

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Cost of living: How people can get themselves financially ready for a recession

What can we do to prepare? Shanks said it was important for people not to get scared and continue spending money where possible. “In a recession, what you do see is… individuals stop spending, you see businesses stop investing, they stop borrowing, they cut back on expenses and that’s the effect of a recession, and …

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