PM Edition: Top 10 Business Articles on LiveNews.co.nz for May 15, 2026 – Full Text

Source: Radio New Zealand

Analysis – Nicola Willis has put her money where her mouth is and reduced her Budget’s operating allowance for a third year running.

For years, the Finance Minister has been relentless in her criticism of the previous minister, Grant Robertson, and his extensive operating allowances – $5.9 billion in 2022 and $4.8b in 2023 – promising to rein in spending and prioritise fiscal discipline.

In her first Budget in 2024 she told reporters in the lock-up that she was “weaning off the addiction to spending” that Robertson had created over six years of a Labour government.

At that year’s Budget, an operating allowance of $3.5b had been forecast, which was ultimately reduced by $300 million to $3.2b.

Last year the slashing was even more aggressive when a forecast $2.4b allowance was chopped in half by her pre-Budget speech to just $1.3b – a reduction of $1.1b.

And on Wednesday the Prime Minister delivered the news for her, telling a Business NZ audience in Auckland that the forecast $2.4b allowance had been nudged down by $300m to $2.1b.

Those operating allowances are tight, but critics will find it difficult to describe them as austerity, especially with the likes of the Taxpayers’ Union arguing the number should be closer to zero.

Singing from that same songsheet traditionally is the ACT Party. When leader David Seymour was asked at Parliament on Wednesday whether he would have liked the cuts to go further, he said his aim would have been a “less than zero” Budget.

“Speaking as the ACT leader, yeah, I think we need to be a lot tougher on reducing the deficit and reducing government spending, but also speaking as the Deputy Prime Minister, I’m proud to be part of this government and I know that we wouldn’t have made the level of savings we have [without ACT].”

Seymour said the savings had ACT’s fingerprints all over them and his ministers were the ones at the Cabinet table putting pressure on the coalition to make “careful use of taxpayer money”.

Willis told RNZ on Wednesday that if it weren’t for the fuel crisis her operating allowance reduction would be larger and more in tune with the cuts seen last year.

“It is the case that without the fuel crisis, yes, we may have been able to have an even tighter allowance, but my view is that we have achieved a great deal by reducing our forecast operating allowance, ensuring that we’re building up buffers for the future, keeping New Zealand financially secure.”

The buffers are needed more than ever given the increasingly volatile world countries are operating in, where in the space of a few weeks a US-Israel attack on Iran can shoot petrol prices at the pump in New Zealand beyond $3 a litre.

That’s required unexpected support packages that are already chewing up some of the operating allowance put aside for this year’s Budget to the tune of hundreds of millions of dollars.

While the operating allowance restraint speaks direct to Willis’ narrative over the past two-and-a-half years, this year’s Budget is accommodating a $2.2b increase on what was forecast for capital expenditure – up from $3.5b to $5.7b.

Christopher Luxon addressed that increase, saying “the recent crisis has acted as a timely reminder that significant levels of capital investment will be required in the coming years”.

But he also signalled it didn’t reflect a “permanently higher rate of borrowing” and that in the years ahead a balance would be found between saving and borrowing.

Seymour also defended the increased capital spend saying it was to deal with “things that are yet to be announced, that I think are significant and timely investment”, adding that in later years in the fiscal cycle the capital expenditure would reduce.

While Budgets are drastically impacted by global and national events and disasters – think the Christchurch earthquakes, the Covid-19 pandemic, or the ongoing fuel crisis – they’re also shaped by individual government’s political decisions.

Willis will be commended by many for slashing the operating allowances at each of her Budgets to date, but remains open to criticism from other quarters about both what the coalition cut and continues to prioritise spending on.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Does having a degree pay off?

The government wants to redirect some of the funding it has been using for the ‘fees-free’ university scheme into trades training.

Prime Minister Christopher Luxon told Morning Report the scheme had been “quite a failure” and the government needed to make sure it was growing the economy.

At the moment, only about 6 percent of young people go into apprenticeships when they leave school, while about a third go into a degree.

But would encouraging more into the trades improve outcomes, for them or for the economy?

The income

Data from the Tertiary Education Commission shows that at a high level, tradespeople earn more straight after graduation than degree-holders, but those with degrees pull away over time.

Focusing on those who are under 25 at the start of their working life, licensed tradespeople, such as electricians and plumbers, are the exception and match or beat the average degree-holder.

As a whole, those with university degrees, including arts, commerce, engineering and health, are starting work on a median $62,000 a year which rises to $95,000 after nine years.

Electricians earn $84,000 a year out of training and almost $100,000 at year nine.

Plumbers start at $79,000 and rise to $94,000.

Carpenters start at $73,000 and rise to $80,000 but are overtaken by degrees at year 5.

Auto mechanics follow a similar pattern.

“Electricians and plumbers are licensed and regulated, harder to qualify into, and supply is constrained. That scarcity translates into durable earnings. Carpentry and mechanics have no such barrier and their earnings flatten fast,” said Simplicity chief economist Shamubeel Eaqub.

Stats NZ data shows that overall, the average hourly wage for a technician or trade worker in New Zealand is $36.27 an hour for men and $31.95 for women.

Many tradespeople start their own businesses, which may make their income harder to track, Eaqub said, particularly from about year five.

There is also significant variation within degrees. Medical graduates had a $116,000 median income when qualified.

At graduation, engineering and building related technologies was second-highest-paying and management and commerce third.

After five years, health was still the highest paying sector but engineering picked up and IT jumped strongly.

University of Otago associate professor Lynnaire Sheridan said OECD data indicated tertiary educated workers earned twice as much as those who only finished secondary school.

Paying to study or being paid

Another key aspect to account for is time spent studying.

Most university students fund their own studies, which can cost tens of thousands of dollars.

Research published almost a decade ago found that at that point about half of medical students had a loan of more than $90,000.

In comparison, apprentices pay a much smaller fee and earn at the same time.

Plumbing World said apprentices would usually earn between $24 an hour in their first year and $39 in their fourth year.

The commission said level four to seven qualifications had a 56 percent or 57 percent completion rate, depending on whether the programme was work-based, and degree-level qualifications had a completion rate of 60 percent.

What does it mean?

Census data also shows that the higher the qualification a person had, in general, the more they would earn.

But University of Otago economist Murat Ungor said there were some caveats to keep in mind when looking at it.

“First, correlation does not necessarily imply causation. Degree holders may also have higher average ability, greater family support, stronger motivation, or better access to professional networks, all of which can increase earnings independently of education itself.

“Second, the field of study may matter enormously. Degrees in medicine, engineering, economics, or finance are likely to generate much higher average earnings than degrees in some other disciplines, even when both are at the same qualification level.

“Third, not everyone requires a university degree to achieve a relatively high income. Some trades and vocational qualifications also produce strong earnings outcomes. For example, individuals with Level 5 diplomas have a median income of approximately $51,100, well above the median income of those with no qualifications.

“Finally, it is worth noting the position of overseas secondary school qualifications. People with this credential earn a median of $35,700 per year, which performs better than having no qualification but worse than most New Zealand level 2 certificates and above. This may reflect issues with qualification recognition, differences in curriculum standards, or demographic factors such as recent migration and lower English proficiency among some holders.”

He said one interpretation was the university students received considerable private financial returns from their education and should contribute more to the cost.

“However, there is also a strong counterargument that tertiary education generates broad social benefits, including higher productivity, innovation, tax revenue, and social mobility, which provide an economic justification for continued public support.”

He said access to education was not evenly distributed, either. “Financial barriers, family background, school quality, and social inequality all continue to shape educational participation and outcomes.”

Sheridan said there was also evidence of disproportionate unemployment among more highly educated people. “You get a degree and then you tend to be looking for the right role.”

The commission’s data showed that 1 percent of degree-holders are on Jobseeker benefits, compared to 9 percent of people with level one to three qualifications, which are usually obtained at school.

She said both degree-holders and tradespeople were affected by the economy but there was longer-term resilience from higher education.

“It’s more likely you’re able to weather more economic cycles across your entire life.

“Initially yes you have the debt and the cost but longer-term across your career you’ve got greater stability because you’re basing your education on really highly transferable skills like critical thinking and analytical skills.

“That gives you greater reliance, particularly at the moment where there’s such a challenge in terms of what future work will look like. We can’t even predict the jobs that will exist 20 years from now.

“When the economy is really hot, everyone will be doing renovations, building houses, needing that plumber now versus when times are tougher being able to fall back on this other skill set can actually help you create work and generate work within economies not as flush with cash.

“I would say whatever you’re studying and doing, you want to be the best version of that career. A really good plumber will always have a work. A really amazing accountant will always have work. Someone with a university education can pivot.”

Getting out what you put in

Hayley Pickard, managing director of recruitment firm Fortitude Group, said qualifications ended to only be one piece of the puzzle.

“Certain qualifications can absolutely help someone start on a higher salary for example, someone who spends four years at university may enter the workforce on a stronger graduate package because of the qualification they’ve earned.

“But equally, someone who entered the workforce four years earlier may already have built practical experience, developed industry knowledge, and progressed up the pay scale during that same period. In many industries, hands-on experience and proven performance can carry just as much weight as formal education.

“It’s also important to recognise that university or formal qualifications don’t suit everyone. Some people thrive in practical, hands-on environments and build highly successful careers through experience, apprenticeships, trades, or on-the-job learning. That’s why it’s important to look at the bigger picture, rather than judging someone purely on the grades they achieved in education.”

She said earning potential was shaped by education, experience, demand, performance, attitude and willingness to continue to learn.

Robert Walters chief executive Shay Peters said employers were likely to place less emphasis on degrees in future.

“A lot of the grunt work will be done by AI. Recent graduates are finding it tough to get jobs because AI is taking over their roles they’ve got to work through an education provider that’s going to give them practical experience.

“Employers are looking for pretty instantaneous output and productivity.”

He said people who were doing well were those with good human skills, who could work on relationships while technology did the work in the background.

Sign up for Money with Susan Edmunds, a weekly newsletter covering all the things that affect how we make, spend and invest money.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Media Outreach

PANAMA CITY, PANAMA – Media OutReach Newswire – 14 May 2026 – Fuutura has introduced a unified trading protocol that combines self-custody, on-chain identity, and access to multiple asset classes within one connected architecture. At the centre of the design sits a single rule: each user verifies once, holds their own keys throughout, and operates independently across every product the platform offers.

Where much of the crypto industry has pursued visibility through disconnected tools running on competing chains, Fuutura has worked outside the spotlight for years. The team has been engineering the foundational infrastructure required to deliver financial access to the billions whose participation has been blocked by the legacy system.

The launch brings three products to market under the Fuutura name. Fuutura Identity, Fuutura Wallet, and Fuutura Trade have each been designed to stand alone while reinforcing the capabilities of the others.

Fuutura Trade has been described by the team as the trading layer crypto has spent fifteen years trying to build. The protocol is non-custodial and multi-chain, engineered for traders unwilling to compromise on architecture. On-chain execution. Cross-chain liquidity. A revolutionary single environment for the full range of on-chain digital assets: cryptocurrencies, stablecoins, governance and utility tokens, liquid staking tokens, wrapped assets, LP tokens, and other digital and tokenised assets. The protocol already knows the trader is verified, recognises the keys they hold, and trusts them to act on their own behalf.

No platform-managed orderbook. No off-chain matching. No third party with the keys.

The protocol works for the trader. Not the venue. Not the custodian. Not the intermediary.

That’s the difference.

“We didn’t set out to build another exchange. We set out to build the trading layer that’s missing from crypto. Non-custodial, on-chain, multi-chain, with identity attestation handled at the protocol layer rather than at every product. Once you build that architecture, the rest of the ecosystem becomes possible. Wallet, Identity, Trade. They all run on the same foundation, and that’s why the protocol can recognise the user and trust them to act on their own behalf without intermediaries getting in the way,” said Ellis McGrath, Co-founder and Chief Technology Officer of Fuutura.

The Fuutura Identity product sits beneath the wider ecosystem as its trust layer. Verification runs through biometric authentication and liveness detection, paired with document recognition and AML screening, before producing an on-chain attestation linked directly to the user’s wallet. That attestation is then recognised across every product Fuutura operates. A single verification covers all subsequent interactions, with compliance happening within the protocol rather than at the entry to each individual product.

This is what gives Trade the ability to identify its user without running KYC a second time. It is also what allows Wallet to function with no intermediary involvement. Identity becomes the architecture itself.

Fuutura Wallet sits at the centre of the ecosystem as its custody and control layer. The wallet is non-custodial and multi-chain. Users retain their keys, direct the movement of their assets, and authorise their own transactions. It operates across blockchains and serves as the entry point to every Fuutura product, without surrendering custody to a third party at any stage.

The principle is simple: ownership is not delegated.

“The promise of crypto has always been that users could participate in finance without giving up custody, identity, or access. The reason that promise hasn’t delivered is that the architecture wasn’t there. Identity, custody, and execution have lived in separate places, and the user has paid the cost. Fuutura is being built so they live in one place, at the protocol layer, where they belong,” said Oliver Cook, Co-founder of Fuutura.

Three products are ready for launch. Additional products are under active development, each engineered to broaden identity usage, deepen wallet integration, and expand the reach of the ecosystem as Fuutura scales.

This is the broader vision Fuutura is working toward: a compliance-first financial ecosystem designed to deliver inclusion at a global scale, with the user positioned at its centre.

Digital asset risk.

Digital assets are high-risk and their value may fall as well as rise. Trading digital assets involves significant risk and may not be suitable for all investors. Past performance is not a reliable indicator of future results.

Forward-looking statements.

This document contains forward-looking statements regarding Fuutura, its technology, products, business plans and future conduct, including statements relating to the phased rollout of the ecosystem, regulatory engagement and licensing outcomes, geographic expansion, and market ambitions. Forward-looking statements are identifiable by words such as “building,” “plans,” “intends,” “expects,” “designed to,” “anticipates” and similar expressions, as well as by statements regarding future outcomes, ambitions or strategic direction.

Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that could cause actual outcomes to differ materially from those expressed. These include, without limitation, changes in the regulatory environment across jurisdictions; the availability and timing of licensing or authorisation; developments in digital asset markets; technological and cybersecurity risks; operational risks; counterparty and third-party risks; the pace of product development; and other factors beyond Fuutura’s control.

No offer or advice.

Nothing in this document constitutes an offer to sell, a solicitation to purchase, investment advice, or a recommendation in respect of any digital asset, crypto-asset, token, security, or financial product or instrument. Fuutura’s products and services may not be available in all jurisdictions and may be subject to regulatory restrictions. Access to Fuutura’s platform is restricted to residents of jurisdictions where its services are permitted.

No duty to update.

Fuutura undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

Restricted Jurisdictions.

NOT FOR DISTRIBUTION TO, OR USE BY, PERSONS IN RESTRICTED JURISDICTIONS.

This communication is directed exclusively at persons outside, and must not be acted upon by any person in or resident of, the United Kingdom, the European Union or European Economic Area (including Iceland, Liechtenstein and Norway), Switzerland, the United States of America, Canada, Australia, Japan, any FATF-listed high-risk or monitored jurisdiction, or any jurisdiction subject to comprehensive United Nations, European Union, United Kingdom or United States sanctions (the “Restricted Jurisdictions”). It is not an offer, solicitation, inducement or recommendation in respect of any digital asset, token, security or financial product. Fuutura holds no regulatory authorisation in any Restricted Jurisdiction; its products and services are not available to persons in or resident of any Restricted Jurisdiction; and access to Fuutura’s platform is restricted at the onboarding and protocol level.

https://fuutura.com/

Hashtag: #Fuutura

The issuer is solely responsible for the content of this announcement.

– Published and distributed with permission of Media-Outreach.com.

Source: Radio New Zealand

National grid operator Transpower will not be prosecuted after all over the toppling of a pylon that cut power to about 90,000 homes and businesses across Northland.

The Electricity Authority lodged a formal complaint against Transpower last year, alleging the state-owned company had breached the Electricity Industry Participation Code by not maintaining its assets in line with best industry practice.

The pylon, at Glorit, north of Auckland, fell over during routine maintenance in June 2024 after contractors removed the nuts from three of its legs at once.

Transpower could have been fined up to $2 million if a breach had been proven.

However, on Thursday the Electricity Authority said Transpower had since provided new evidence, and an international expert had found Transpower met the required standards.

As a result, the Electricity Authority had dropped its complaint – but it was now considering whether the standards needed to be changed, or whether a different approach was needed to “reflect New Zealand’s specific circumstances”.

In particular, the current code did not apply to outside contractors, such as the French-owned company Omexom, which was working on the pylon at the time.

The authority said it was “considering whether the concept of good electricity industry practice is fit for purpose, including in circumstances where industry participants may contract out significant parts of their functions”.

Meanwhile, Transpower welcomed the authority’s decision to drop the complaint.

Executive general manager grid delivery Mark Ryall said it confirmed the company’s position that its processes and systems were “consistent with good industry practice”.

“An independent report found the tower fall was caused by a crew working for our service provider failing to follow approved processes and procedures. It also highlighted that, despite strong systems and oversight, human error can still occur.”

Ryall said the tower fall should never have happened, and apologised for the impact on people and businesses in Northland.

Since then Transpower had strengthened its oversight of service providers, to make sure their practices were robust and their crews had the correct skills and training.

“We continue to work hard with our service providers to improve our practices to ensure that we can prevent an incident like this happening again,” Ryall said.

A report ordered by then Energy Minister Simeon Brown shortly after the accident made 26 recommendations for Transpower, Omexom, the Electricity Authority and the Ministry of Business, Innovation and Employment.

All 19 recommendations for Transpower have since been carried out.

In November last year Sydney-based law firm Piper Alderman started class action against Transpower and Omexom on behalf of the roughly 20,000 businesses affected by the outage.

The firm did not specify how much money it was seeking, but economic consultants Infometrics estimated businesses had lost $60 million as a result of the power cut while the Northland Chamber of Commerce put the figure at $80m.

In the months after the collapse, Northland’s Chamber of Commerce and local MP Grant McCallum pushed hard for compensation from Transpower and Omexom.

Eventually, the companies agreed to give $500,000 each to a “resilience fund” supporting projects with long-term benefits for Northland.

About 180,000 people were affected by the outage.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Indian negotiators threatened to walk out of trade talks with New Zealand over its persistent efforts to include dairy, New Zealand’s chief trade official says.

Vangelis Vitalis revealed the detail to MPs on Thursday to help explain the “big disappointment” of the Indian free trade agreement (FTA), that being the limited gains for the dairy sector.

Appearing before Parliament’s trade select committee, Vitalis said India “flatly refused to even engage” on typically orthodox elements of trade negotiations, like butter, cheese and milk powders.

“There were moments when there were threatened walkouts, including at ministerial level, when we persisted in seeking an outcome for dairy.”

Vitalis said the talks were “extremely difficult” on that point, noting that no other country had ever secured access for those products.

He said New Zealand did manage to eliminate tariffs on bulk infant formula and some protein-based products. “It’s not nothing.”

Vitalis also talked up the gains in other areas, noting progress on products which were “super sensitive” in India, like apples, kiwifruit and honey. All three products will face reduced tariffs up to a certain quota under the deal.

He said the deal also put New Zealand on “even footing” with its key competitors like Australia, which had pulled ahead of New Zealand in key products like sheep meat since securing its own agreement in 2022.

Before then, New Zealand accounted for 85 percent of India’s imports of sheep meat. That had since dwindled to just 9 percent.

Vitalis said the FTA would give New Zealand exporters greater options in an increasingly challenging environment.

“The jungle is certainly growing back. Things are becoming more turbulent, more uncertain, and all of the major trading blocs in the world are increasingly ignoring or breaking those international trade rules on which we’ve relied for so long.

“The system is battered and bruised… but it is not yet broken.”

Questions about migration, investment

Vitalis also faced questions from MPs on two key aspects of the FTA which have proved contentious across Parliament.

New Zealand First triggered the coalition’s agree-to-disagree clause, allowing it to oppose the deal, arguing it would have “ludicrous immigration implications”.

With encouragement from National MP Tim Costley, Vitalis stressed the FTA contained “important safeguards” around migration.

The FTA introduces a dedicated pathway for up to 5000 Indian professionals over three years through Temporary Employment Entry (TEE) visas.

Vitalis said those applicants had to undergo all the usual character and health tests, and find work only in areas with a “genuine shortage” of workers. There was also no pathway to permanent residence or citizenship – and a three year stand-down.

“After you’ve had your visa for three years, you must leave, and you cannot reapply for three years.”

Vitalis also played down any changes around student benefits, saying Indian students were currently allowed to work 25 hours a week while they studied. He said the agreement included an guarantee that would never fall below 20 hours.

Both Labour and NZ First have also expressed concern about a commitment to promote up to US$20 billion of New Zealand private sector investment in India over 15 years.

Vitalis said the commitment was “very carefully drafted” and India “well understood” that it related only to promotion.

“It is not to reach the target…. We do need to show and demonstrate to India that we are promoting investment there. But it is clear that the New Zealand government cannot give or invest 20 billion US dollars.”

Asked whether India could revoke concessions if it deemed New Zealand had not lived up to its obligations, Vitalis said he did not believe that would occur.

“If we were in that situation, then, more fundamentally, the bilateral relationship with India is in serious trouble.”

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

It is clear that many people in Marlborough just want to see work get underway on the port redevelopment ahead of the new ferries arriving, after years of disrupted services.

The Marlborough District Council is seeking feedback on whether to lend the port $110 million for its share of the Picton ferry redevelopment, and there is broad support among those who have weighed in on the proposal.

The money would come from the Local Government Funding Agency and go towards the Waitohi Ferry Redevelopment Project which was estimated to cost $531m, with the government funding the rest.

The council has said debt would be at no additional cost to ratepayers, with the port to pay back the loan, including interest, while also paying its annual dividend to the council.

At a public meeting held in Picton on Wednesday, many expressed support for the proposal. More than 80 percent of the submissions published online were also in favour of the council financing Port Marlborough’s share of the project.

Aileen Walker has lived in the port town for 40 years and said having a resilient link across the Cook Strait was vital, but admitted that the $110m cost made her “gulp”.

“Numbers like that make our minds go bananas, it’s a huge sum of money but it has to be spent. We need this and it’s not just in Picton that we need it, but we need it to link the two islands together.”

She said she was devastated when the former ferry project was canned, because of the money that had already been spent on preparation work in Picton.

Last May, it was revealed that $39.1m had already been been spent on investments at the Picton port as part of the iRex (Inter-Island Resilient Connection) project which included a new terminal and walkways, a new mechanical depot and an upgraded culvert.

Walker said she understood why the government scrapped the former ferries, but said the way it was managed was “hopeless” and the half finished upgrade left Picton in “absolute chaos”.

Dublin Street had been closed for over a year so underground services could be moved and an overbridge built as part of the iRex project, but it was shelved before the bridge was built.

“It’s going to be chaos again, but at least it’ll be positive chaos. We’ll know it’s leading somewhere that is going to benefit everybody,” Walker said.

‘Everyone’s ready to just get cracking’

Blenheim resident Henry Voordouw was also supportive of the loan and said he was not worried about the price tag.

“It’ll either cost $110m or it will cost $200m, everything seems to double these days.”

He said the ferries were run down and becoming less reliable.

“It’s disappointing that that has been allowed to happen and we’re stuck with it now, but we have to do something otherwise they just seem to run off track and have all these sorts of breakdowns.

“You want tourists to travel on these ships, they don’t want to have to put their lives in danger. It’s bad enough for us, the locals, to have to put up with that, let alone bloody tourists.”

Cliff Bowers, a longtime Picton resident and former Marlborough district councillor, said the loan made sense – given the port is a council controlled organisation.

But he was concerned about what it could mean for Marlborough’s assets if the council was forced to amalgamate, as per the government’s regional council shake up.

“We don’t know what they’re going to force onto us. I just hope that they don’t make us amalgamate with Wellington, that would cripple us.”

Julia Kennedy moved back to Picton a few years ago after living in Australia and said she supported the proposal, as creating a more resilient link across the Cook Strait was a “no-brainer”.

“It’s a bottleneck for everybody, for the whole country. Freight-wise and it’s obviously really important in terms of moving people.

“It’s the lifeblood of lots of small towns from Picton all the way down to the larger centres.

“I think everyone’s ready to just get cracking and get it rolling. Let’s start seeing some shiny new boats and being able to have some faith and some trust in our transport infrastructure again.”

Out of 49 submissions on the proposal to finance Port Marlborough’s share of the project, 41 were in support.

Those against the proposal cited concerns over adding to council debt, the shifting of risk to ratepayers and the suitability of the repayment terms.

“The push for upgraded ferry infrastructure is being driven at a national level, not by Marlborough ratepayers. It is unreasonable that local ratepayers are expected to underwrite a $110 million investment to support what is effectively a national transport objective,” one submitter said.

A long wait for a port upgrade

Work began on the iRex project in late 2022, with plans for a new ferry terminal building, a new wharf and passenger walkway, a new rail yard, new vehicle boarding, and an overbridge in Dublin St over the railway lines, to improve traffic flow through the town when larger ferries were in port.

But by December 2023, the government announced the project was being canned after costs had quadrupled from $775m in 2018 to about $3 billion in 2023.

It was revealed last year that the total cost for the scrapped project was $671m, which included $449m spent on landside infrastructure, project management and wind-down costs, and $222m total paid to the South Korean shipbuilders, Hyundai Mipo Dockyards, including for a previous deposit and the settlement.

Ferry Holdings was established by the government last March, to lead the revised Cook Strait ferry programme, bringing together vessel design, port infrastructure, and national transport requirements under a single entity.

Marlborough mayor Nadine Taylor said there was a sense of deja-vu given the council had previously agreed, after consultation, to lend the same amount to the port under the former iRex project.

“Essentially, a lot of it’s the same, it’s two ferries, it’s new port [infrastructure], the roading infrastructure is very similar, the proposal is for an overbridge again which is really important to the people of Picton.”

She said so far, the submissions council had received showed support for the loan.

“A lot of people are saying to me, we’ve been here before, let’s just keep moving, let’s keep going forward with this.”

Ferry Holdings chair Chris Mackenzie said once the council had made its decision, the company would finalise agreements so contractors could start work.

He said there had already been demoliton work done at both ports, and the aim was to start building new infrastructure by mid-year, with a completion date of December 2028.

Port Marlborough CEO Rhys Welbourn said its focus during the redevelopment was to build a new wharf that would allow vessels to come in, berth safely and load and unload efficiently.

He said new vessels, no matter what size, required new infrastructure.

“Picton is vital for New Zealand’s supply chain, not many people realise, but New Zealand relies on the infrastructure at Waitohi/Picton, every day.

“Every day we have ferries coming, unloading and loading, so it’s really important that we get that right.”

A public meeting is being held in Blenheim on Thursday night and consultation closes on 19 May, with the council to make a decision on 26 May.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Media Outreach

SHANGHAI, CHINA – EQS Newswire – 14 May 2026 – Saint Bella Group recently announced that its investment in and entered a strategic partnership with L Catterton, the leading consumer-focused private equity firm affiliated with LVMH. Managing roughly $40 billion in equity capital and with investments in over 300 renowned consumer brands worldwide, L Catterton will collaborate with Saint Bella on technology innovation, international expansion, and the development of a premium brand ecosystem. This deep cooperation aims to power Saint Bella’s evolution into a global multi brand household care group.

The partnership signals top tier international capital’s strong endorsement of Saint Bella’s business model and growth prospects, and represents a landmark strategic move in the household care sector.

Complete Digital Transformation of the Premium Services Market

According to its official website, L Catterton was jointly founded by leading consumer private equity firm Catterton, world leading luxury group LVMH, and Bernard Arnault’s family holding company Groupe Arnault. It integrates Catterton’s existing private equity business in North and Latin America with LVMH and Groupe Arnault’s private equity and real estate operations in Europe and Asia, creating the world’s largest diversified private equity firm focused on the consumer sector.

Under the strategic cooperation agreement with Saint Bella, L Catterton will provide cutting edge technology innovation support and deep insights into high net worth consumer behavior to help continuously iterate Saint Bella’s service experience and optimize its membership system.

Backed by the core resources of the LVMH Group—a global leader in luxury that owns more than 70 renowned luxury brands—L Catterton can leverage LVMH’s digital transformation practices and strategies to help Saint Bella further upgrade and iterate its services and innovation.

Top international capital enters the field, unlocking the potential of a multi brand global group

Since opening its first overseas store in 2023, Saint Bella Group has continued to expand internationally. It recently announced top tier hotel signings in five major global cities—New York, London, Paris, Bangkok and Sydney—marking the initial formation of its global operating footprint.

For Saint Bella Group, L Catterton provides access to a global range of luxury and premium consumer-brand resources. Through this partnership, Saint Bella will leverage L Catterton as a bridge to actively explore cooperation with L Catterton’s portfolio companies and industry network—seeking luxury and high end consumer partners for joint product development, integrated membership benefits, and scenario based service experiences—to jointly build a cross sector ecosystem for premium maternal & infant and lifestyle offerings.

The core strategic objective of the collaboration is to build the Group into “the Anta of maternal & infant and family care.” To realize this vision, the two parties will rely on L Catterton’s top tier global consumer network to systematically identify, evaluate, and target high growth potential new retail maternal & infant brands and cutting edge care product companies worldwide. Through a dual pathway of co investment incubation and strategic acquisitions, they will form deep capital partnerships with international brands that have unique brand value and product competitiveness—leveraging L Catterton’s global operating experience and consumer industry ecosystem to jointly expand into global markets—and selectively introduce leading international care product and retail brands to continuously enrich Saint Bella’s retail footprint and brand matrix. This strategy aims, via ongoing outward looking M&A and integration, to build a multi category brand ecosystem covering maternal & infant care, health foods, smart hardware, and more, ultimately accelerating Saint Bella’s evolution from a single service operator into a multi brand, group level global family health management platform.

Backed by L Catterton’s long standing talent network and market strategy expertise in the global consumer sector, Saint Bella is expected to gain critical support for local operations in overseas markets, brand localization, and the recruitment of high quality brands and talent. As the partnership deepens and progresses, this two way resource linkage will help Saint Bella precisely meet international market consumer demands and promote its Eastern origin professional care system onto the world stage in a more mature form.

Viewed holistically, this strategic cooperation brings not only international capital endorsement but also systematic access to world class consumer resources. From technology upgrades to ecosystem synergies, Saint Bella is completing a strategic leap from organic growth to external expansion. Against the long term trends of pro natal policies and rising family health consumption, the sector leader—having already delivered strong performance—now presents an increasingly clear global brand strategy for the future.

Hashtag: #SAINTBELLA

The issuer is solely responsible for the content of this announcement.

– Published and distributed with permission of Media-Outreach.com.

Source: Radio New Zealand

NZ Warriors coach Andrew Webster insists halfback Luke Metcalf still has a role to play, as the Auckland club chases its first NRL championship.

Unable to displace in-form Tanah Boyd or Chanel Harris-Tavita in the starting line-up, and apparently intent on playing halfback, not five-eighth, in the long term, Metcalf was given permission to speak to other clubs about his future beyond this season.

On Thursday night, he informed the Warriors he had reached an agreement with another club, signing a three-year deal with St George-Illawarra Dragons.

Metcalf earlier attended training, but has not been selected for either first grade or the reserves this weekend, while he explores his future contract options.

During the summer, Metcalf signed a two-year contract extension until the end of 2028.

“It’s dumb for business to name people, to play people, to put them in harm’s way, until they’ve got their future sorted,” Webster explained. “The moment he does that, we’ll have him available for selection either in NSW Cup or NRL.”

Now that seems resolved, Metcalf will likely see out the rest of the season at Mt Smart, where he still has a role in the squad.

“One-hundred percent,” Webster assured. “A week in rugby league is a long time, and whoever is playing the best and deserves the opportunity will take it.

“We’re certainly not going to change that and he could have a big part to play.”

Boyd is just an injury – or State of Origin selection – away from missing time for the Warriors, with Metcalf still the next best No.7 option on the roster.

“We’re really blessed that we’ve got Te Maire Martin, we’ve got Luke Metcalf and all our young halves,” Webster said. “Luke Hanson has played this year and Jett Cleary is tracking well, so we’ve got a lot of players that could fill in.

“Luke wants to be here for the rest of this year at least and, if he’s playing well and buying in, he’s certainly available for selection.”

Webster was adamant there was no suggestion Metcalf would leave before the end of this campaign, but watching the saga play out in public had been frustrating.

“To see it in the media before we knew a lot about it… people were talking about it before we knew, but the way Luke has handled it with me, particularly in the last three days, has been awesome. I’m really proud of him.

“You always want to get ahead of it and be the first to know.

“He wants to make sure he can explore his future, but at the same time, I know he’s very grateful to this club and loves this club. His training’s been good, the way he’s been around the boys, but rugby league players are ambitious.

“His future’s here right now for as long as he wants to be here. It’s not an argument or a blow-up or anything like that.

“I haven’t seen him train poorly, it’s just unfortunate that form from other players has been exceptional, there’s been some injuries to Luke himself and he now wants to explore where he wants to go from here.”

Webster warns fans not to judge Metcalf too harshly.

“To ask if I’m disappointed they don’t want to hang around and fight, I don’t know what they’re going through,” he said. “I don’t know how much it’s hurting them and I don’t know how much strain it’s putting on them.

“I honestly think Warriors fans are awesome like that. There will always be at every club one or two idiots that will get it wrong.

“Just treat him with respect. We still love him here and have a lot of time for him, so I hope all the fans feel the same.”

Warriors skipper Mitch Barnett has put Metcalf’s wellbeing ahead of any disruption the fallout may have caused.

“End of the day, in rugby league, people come and go,” he said. “It’s a business and for us, as a team, we have to check in with Luke to make sure he’s alright – we don’t get involved in the other stuff.

“All we expect here is for people to rip in on the training field and deliver on the weekends, and buy into the team culture. He’s been doing that, so that’s as far as I go.

“For Luke, it’s his business and not something I’m willing to comment on. We just check in on the welfare of the human being.

“We’ve got a game to prepare for. Yes, we care about the individual… we’re all around him.”

Barnett himself has been granted an early exit from his Warriors contract to return across the Tasman next year on compassionate grounds, signing with Brisbane Broncos.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: New Zealand Government

A new mental health toolkit launched today by Mental Health Minister Matt Doocey will support businesses to improve productivity in the workplace through better mental health.

“Poor mental health in the workplace can lead to decreased productivity and high absenteeism rates,” Mr Doocey says.

“Research shows that by improving mental health in the workplace, productivity can increase by around 6 to 10 per cent. There is strong economic evidence for investing in better mental health in the workplace, with returns of around $5 for every $1 invested into initiatives such as Employee Assistance Programmes (EAP).

“But for some workplaces, cost is a barrier to accessing EAP. That is why we have worked with businesses to develop the free toolkit, aimed particularly at small and medium-sized businesses, helping to reduce those barriers.

“The toolkit is free and provides confidential mental health support delivered in a way that best works for both employers and employees. People can either download the Groov app for practical advice, call or text 1737 to talk to a trained counsellor 24/7 or see someone in person at Access and Choice mental health services.

“Today’s launch of the Business Mental Health Toolkit is part of the Government’s mental health plan to deliver faster access to support, more frontline workers, and a better crisis response.”

Notes to editors:
•    The toolkit is available here.
•    The package includes posters, wallet cards, employer guidance and digital resources outlining where people can go for support.
•    Attached are the brochure and poster. 

MIL OSI

Source: Media Outreach

SINGAPORE – Media OutReach Newswire – 13 May 2026 – Global digital business services leader TP (ex-Teleperformance) today reported that its award-winning AI-powered collections solution, TP.ai FAB Collect, matched human-level customer satisfaction scores while delivering a 40% debt recovery rate in live client deployments.

Collections are emerging as a critical lever for both financial performance and customer retention. Regional institutions including the Asian Development Bank have identified digital transformation of financial services and credit infrastructure as a strategic priority across Asia, while rising consumer delinquencies are increasing pressure on banks to modernise servicing and collections operations.

However, debt collection remains one of banking’s most complex challenges, as lenders struggle to improve recovery rates without damaging customer relationships. AI-driven, human-supported debt collection models are emerging as a potential way forward to help lenders tackle rising credit risk and changing borrower behaviour. TP.ai FAB Collect is designed by training AI on decades of human collections expertise and deploying it where volume demands scale, so human advisors can focus on preserving customer relationships.

From Recovery to Relationship Management

TP.ai FAB Collect empowers lenders to operationalise more predictive, customer-centric engagement at scale, moving beyond traditional recovery models without adding friction to the customer experience. Built on TP’s proprietary TP.ai FAB (Foundational AI Backbone) framework, the solution integrates advanced analytics, AI-driven decisioning, and omnichannel engagement to improve recovery outcomes while maintaining compliance and customer trust.

“We trained our AI on 40 years of human collections expertise. Now it handles the first wave, so our human advisors can focus on the conversations that truly matter. TP.ai FAB Collect has produced results across debt recovery, promise-to-pay and overall customer satisfaction.” explains Assaf Tarnopolsky, TP’s Chief Business Development & Customer Officer, APAC.

When deployed by a leading financial institution, TP.ai FAB Collect’s AI agents achieved a customer satisfaction (CSAT) score that was slightly higher than human agents while also achieving a 40% debt recovery rate. At a leading telecommunications company, AI agents adapted outreach to customers based on local payment behaviour, achieving a 7%-point improvement in the pay-to-contact ratio compared to the human-only model. The solution also improved recovery performance over time while reducing collections costs by 40% compared to a human-only model.

TP.ai FAB Collect was recognised with a 2026 Artificial Intelligence Excellence Award by the Business Intelligence Group and was named Technology of the Year by the Excellence in Customer Service awards.

https://www.tp.com/
https://www.linkedin.com/company/wearetpgroup/
https://x.com/wearetpgroup
https://www.facebook.com/wearetpgroup
https://www.instagram.com/wearetpgroup/

Hashtag: #TPAPAC #TPaiFAB

The issuer is solely responsible for the content of this announcement.

– Published and distributed with permission of Media-Outreach.com.