Weekly Digest – 2 August 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Slowing wage growth good news for small business owners – Xero

Jobs growth in small businesses remained strong in the June quarter despite sales flatlining, according to new data from accounting software company Xero. The company’s latest small business index showed the number of jobs grew 7.3 percent year-on-year in June, though wage growth cooled.

NZ’s supply chains highly vulnerable – it’s time to rethink how we grow and ship food

Supermarket customers around New Zealand are noticing gaps in the grocery aisles that have nothing to do with the global pandemic or Ukraine war. It is clear domestic food supply chains have been increasingly challenged.  The question is whether we have just been unlucky, or are these disruptions a result of deeper issues in the New Zealand food system?

Changes to wholesale fuel market

A Bill encouraging more competitive wholesale fuel pricing to help ensure motorists get a fairer deal has passed its third reading in Parliament. The Fuel Industry Amendment Bill aims to eliminate risks that suppliers use it as a vehicle to coordinate pricing, or set terminal prices that reflect market power, particularly at isolated terminals, by giving the Commerce Commission the power to step in as a backstop and regulate terminal gate pricing if it believes fuel wholesalers are setting excessive prices.

Canadian bidder denies it plans to improve on ERoads takeover offer

The potential bidder for transport software company ERoad has quashed speculation it is about to raise its takeover price.

Steep rise in complaints to Financial Ombudsman service

Complaints have risen steeply in the past year, reports Financial Services Complaints Limited (FSCL), a Financial Ombudsman Service. Complaints and disputes (cases the service formally investigates) were up by 25% and 37% respectively.

Good news for travellers with ‘seamless’ trans-Tasman border in the works

Trans-Tasman travellers can look forward to a “seamless experience” when flying between Australia and New Zealand, with the potential for complimentary smart gates on the table.

Scientists back ‘One Biosecurity’ system

New Zealand needs a whole-system approach to its biosecurity to better connect the community, scientists and governing bodies if it is to remain fit for purpose, says Lincoln University’s Professor Philip Hulme.

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