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

Source: Radio New Zealand

When Blair Coates’ parents took a skinny dip in the river running through the family farm one hot summer’s day, little did they think it would inspire a skincare production line in the former cowshed.

“I can’t actually remember a time it wasn’t called Nudi Point, and it’s just always been a very, very special place,” Coates told Country Life.

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Coates called his range of serums, balms and other skincare products after the swimming hole because “my number one criteria for the range was that it was 100 percent natural.”

The former city banker and music teacher was also inspired to strike out in skincare after dealing with bad skin as a teen.

• ” just couldn’t seem to work out why or how to get rid of it, and it was so bad that I was not confident to go to school on quite a few days, and I would wag school, or I would make up some excuse as to why I’m not feeling well enough to go because I was just getting teased and bullied.”

Blair in the production area for his skincare range, a converted cowshed on the family farm RNZ/Sally Round

Coates said he became “quite obsessed” about learning about skin care and all of the elements that help clear the skin.

He returned to the family land in the Takahue Valley south of Kaitaia 12 years ago and decided to launch Nudi Point using his earlier training as an aromatherapist.

His husband and mother are also involved in the business.

In a pristine lab, without a whiff of the cows who used to come through here, Coates showed Country Life how he mixes up a serum of several essential oils and decants it carefully into small blue bottles.

“We like to think that a little bit of Nudi Point magic goes in every little product that we send out.”

Blair blends essential oils and bottles them for his customers RNZ/Sally Round

That sense of place is an important selling point for Coates, especially as his is a small rurally-based business, now more reliant on online sales as retailers shutter in the cost-of-living crisis.

“I think it matters, you know, it’s more than just a bunch of products that someone made and put on a shelf.

“It just shows a little bit more attention and care to everything that’s created.”

Still part of a river reflecting the native bush on its banks, the swimming hole which inspired Nudi Point RNZ/Sally Round

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

Source: Radio New Zealand

Olives New Zealand is confident growers and olive oil supply will not be significantly affected by the collapse of Wairarapa producer The Olive Press, despite concerns the closure marks the end of an era for the region.

The family-owned company confirmed this week it had gone into liquidation after 27 years in business.

Executive officer Emma Glover told RNZ the wider olive industry had enough capacity to absorb the work previously handled by The Olive Press.

“The Olive Press managed groves, and they harvested and pressed for different growers within the Wairarapa, but we are a national industry and there is capacity within the service providers of the industry to be able to pick up the work or the groves that have been left,” she said.

Glover said, although the liquidation was disappointing, the industry remained strong and collaborative ahead of the upcoming harvest season.

“We’ve got a pretty strong industry, and there’s a lot of support within the growers and the providers, and I think that much as it’s not ideal for anyone to go into liquidation, we are confident that even with a season only a week or so away from kicking off, that we can work through it and everyone’s coming together and working together well.”

She said New Zealand extra virgin olive oil continued to occupy a strong niche premium market.

South Wairarapa mayor Dame Fran Wilde said the closure was still a significant loss for the region.

“This is disappointing for Wairarapa,” Wilde told RNZ, adding she hoped local growers would still be able to have their olives processed locally through the region’s remaining operators.

The Olive Press announced its closure this week, saying difficult economic conditions and a lack of investor interest had forced the business to shut down after nearly three decades.

Director Rod Lingard said shareholders were devastated to leave the industry in such circumstances.

“The company’s shareholders are devastated to be leaving the industry in such a manner after 27 years, but can do no more,” he said. “We have to accept it’s time for our two families to move on.”

Lingard also criticised the state of the industry, claiming there had been insufficient strategic support and investment.

Lingard said The Olive Press had attempted to revitalise the industry, but failed to attract investors.

He also criticised industry governance and the withdrawal of government research funding, saying it had discouraged investment, despite New Zealand olive oil’s reputation internationally.

“Our former growers face a disheartening choice – they either sell their premium quality fruit to another commercial processor or distributor outside the region, or they simply leave the olives on the tree,” he said.

The company described itself as the country’s only registered wholesaler of certified premium olive oils and warned local food service customers could increasingly rely on imported products.

Liquidators from BDO chartered accountants are now seeking expressions of interest in the company’s assets.

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

Source: Media Outreach

Bringing Together Business Leaders and Paralympic Gold Medalist to Discuss the “Invisible Strength” of SEN Mothers and Full-Time Moms

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Source: Radio New Zealand

Florist shops are buzzing in the lead-up to Mother’s Day this weekend, during a significant sales period in the floristry calendar.

The blooming sector, stretching from cut flower growers to transporters and florists, was preparing for the peak in demand ahead of Sunday.

So far, pink or autumnal bouquets with roses and chrysanthemums were most popular for the Botanical Nest florist in South Canterbury’s Timaru.

Co-owner Renee Ackroyd said Valentine’s Day and Mother’s Day were always busy days in floristry, depending on the location, and there was good demand already.

“We’re finding this year a lot of people are still into those blush, pink tones. Autumn tones are really popular,” she said.

“Generally speaking, most people are in that traditional round, especially the clientele that I’ve noticed in the South Canterbury region. So that’s your roses, your chrysanthemums, your lillies, all your sweet wee flowers, like your tweedias.”

Just last month, Renee and her husband Nate Ackroyd took over the district’s longstanding florist business Bloomers, as industry stalwarts Cherilyn and Murray Kuperus headed into retirement.

Ackroyd said thanks to the previous owners’ great contacts and relationships, the business was able to continue buying directly from growers, who set their own prices.

But she said having to bid for flowers on the more expensive market floor could make the “value conversation” with customers a little difficult.

“It’s really hard because at the moment, prices increase over Mother’s Day. So what you would normally buy on the market floor, for us, will double or triple.

“So that’s why we sort of look at blooms that might be a bit fuller or longer lasting.”

She said sourcing high-quality flowers from all over New Zealand was key to ensuring customers got the best value for money.

“What we are trying to do is give the best quality to our clients, so that we can manage how value looks within that longer lasting longevity of blooms,” she said, “rather than coming and getting a cheap bunch of flowers, but taking them home and them dying in a couple of days.”

Ackroyd said so much work went into just one bouquet, including labour, time, product costs and maintaining freshness.

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

Source: Radio New Zealand

Customs, police and the health sector are combining forces to crack down on illicit tobacco, with a new “action group” the government announced Friday.

Minister for Customs Casey Costello said increasing numbers of black-market cigarettes and tobacco were being seized at the border, and there was been more widespread and blatant retail sales of the illegal products.

RNZ has been investigating the issue over the last month, uncovering multiple shops operating in Auckland selling the cheap tobacco products.

An East Auckland store was charging just $13 for a pack – less than half the excise duty required by law.

Importing cigarettes without paying the excise duty is illegal, and offenders can be charged with defrauding customs revenue.

It was also illegal for retailers to sell illicit cigarettes, with offenders facing a six-month prison sentence, a $20,000 fine or both.

Retail NZ released its report on the illegal sale of cigarettes in April, calling for a dedicated taskforce of health, customs, and police to address the issue.

The report estimated that more than 27 percent of tobacco smoked in 2024 was illicit.

On Friday, Costello said an organised response was required to get on top of the issue.

“The individual agencies are doing their roles well and there is good cooperation around operations and local initiatives, but we need to bring all of these powers and resources together as effectively as we can to stop this black market,” she said.

The government has established the action group with improved planning and joint operations to combat the illegal trade.

“A key shift, given the involvement of criminal gangs in the illicit trade, is formalising the role of police in supporting other enforcement activity,” Costello said.

“Customs and police have also stepped up their engagement with overseas counterparts. As with other illegal trade, New Zealand benefits from stopping supply before it gets to our country.”

Officials in the health sector were also working to improve tobacco control legislation.

Costello was also calling on the public to do their part.

“Buying cheap cigarettes isn’t a harmless crime. Money from the sale of these cigarettes funds gangs and overseas cartels and leads to violent crime, intimidation, and extortion in our communities.”

Retail NZ chief executive Carolyn Young, said the increased pressure on the illicit market was a good first step, but wanted the government to go further.

“We would like for further investment in customs to enhance our border protections and intelligence, tougher penalties for those caught importing and selling illicit tobacco, and banning online tobacco sales,” she said.

“We also believe establishing an independent panel of experts to consider what tobacco controls, enforcement tools, and enhanced public messaging could make a meaningful difference in this space would be hugely beneficial in finding a way to stamp out the market for good.”

A Growing Concern

RNZ has spoken to a number of experts on the issue as part of its investigation into illicit tobacco.

One such expert was retired Australian homicide detective Charlie Bezzina, who said the genie was out of the bottle across the Tasman.

“Given the fact that we’ve let this ferment, and it’s fermented, it’s grown, it’s spread, it’s like a cancer, and then to try and then start implementing resources is quite difficult,” he said.

“If it’s in its infancy in New Zealand, you have to learn by our mistakes.”

Bezzina said New Zealand law enforcement should speak with Australian law enforcement, who possessed a wealth of information on the issue.

He said Victoria’s state government had been slow to respond to the organised crime element.

Chief executive of the Asthma and Respiratory Foundation, Letitia Harding, also raised concerns about the lack of health warnings featured on the illicit packets of smokes.

Of the 15 different packs of cigarettes at the store RNZ visited, only one carried the mandated health warnings.

“They do deter people,” she said.

“I think it’s a reminder that cigarettes do have a long lasting negative impact on your health and can cause death.”

Market Numbers Questioned

Amid the unease over the country’s budding black market for illicit tobacco, concerns were also raised that the issue was being overblown by interest groups.

The director of Action for Smokefree Aotearoa NZ, Ben Youdan, said when it came to tracking and researching the black market, transparency was key.

“The tobacco industry’s got a long history of exploiting a lot of different people and voices in their own commercial interests,” he said.

“I think there’s definitely some genuine concerns for especially small retailers around some of those issues around tobacco, the tobacco industry always has another interest in telling this story, but there’s definitely an issue in there that we shouldn’t just be dismissing.”

Youdan urged leaders to think critically about what they were being told.

“Really kind of asking those questions about whose arguments are they, who’s setting the playbook on this, and really making sure it’s as legitimate as possible.”

“I think that’s incredibly challenging given the long history that industry has had in this debate and stoking the fire around illicit tobacco.”

The 27 percent consumption figure used in the Retail NZ report was originally sourced from a separate 2025 report which was prepared for the exclusive benefit and use of Imperial Tobacco New Zealand and British American Tobacco New Zealand.

However, Retail NZ said while its paid-up members include those companies, the report it released was researched and written independently by Retail NZ staff.

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

Source: GlobeNewswire (MIL-NZ-AU)

NEW YORK, May 07, 2026 (GLOBE NEWSWIRE) — IREN Limited (NASDAQ: IREN) (“IREN”) today announced it has entered into an agreement to acquire Ingenostrum, S.L. (Nostrum Group), a next-generation data center developer based in Spain.

The acquisition marks IREN’s entry into the European market and increases its power portfolio to 5GW. It adds approximately 490MW of secured, grid-connected power in Spain, together with an additional development pipeline, enhancing IREN’s ability to service observed customer demand in Europe.

Spain provides an attractive backdrop for large-scale AI data center development, supported by favorable AI policy settings, a constructive regulatory and permitting environment, robust connectivity and abundant low-cost renewable energy.

The addition of Nostrum’s experienced local team across development, engineering, construction, and operations further strengthens IREN’s execution capabilities and supports the continued expansion of its AI Cloud platform globally.

Daniel Roberts, Founder and Co-CEO of IREN, said:

“This acquisition establishes a strategic platform in Europe for IREN. Nostrum adds high-quality sites, an experienced local team and a leading position in an attractive market for AI infrastructure. These capabilities support the next phase of growth of our vertically integrated AI Cloud platform.”

Gabriel Nebreda, CEO of Nostrum Data Centers, said:

“We are excited to join IREN and help accelerate the development of AI infrastructure in Europe. With IREN’s vision, expertise and global platform, we are well positioned to serve the growing needs of customers in Europe, including sovereign AI programs.”

Completion of the acquisition remains subject to customary closing conditions.

About IREN

IREN is a vertically integrated AI Cloud provider, delivering large-scale data centers and GPU clusters for AI training and inference. IREN’s platform is underpinned by its expansive portfolio of grid-connected land and power in renewable-rich regions across North America, Europe and APAC.

Contacts

Investors
ir@iren.com

Media
media@iren.com

Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or IREN’s future financial or operating performance. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies, revenue targets and trends we expect to affect our business. These statements often include words such as “anticipate,” “believe,” “may,” “can,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “target”, “will,” “estimate,” “predict,” “potential,” “continue,” “scheduled”. Forward-looking statements may also be made, verbally or in writing, by members of our Board or management team in connection with this news release.

These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve and are subject to known and unknown risks, uncertainties and other important factors that may cause IREN’s actual results, performance or achievements to differ materially from any future results performance or achievements expressed or implied by the forward-looking statements, including IREN’s ability to successfully execute on its growth strategies and operating plans, achieve its targeted annualized AI Cloud revenue, continue to develop its existing data center sites, design and deploy direct-to-chip liquid cooling systems, and diversify and expand into the market for high performance computing solutions (including the market for cloud services and potential colocation services), along with other important factors discussed under the caption “Risk Factors” in IREN’s Annual Report on Form 10-K, filed with Securities and Exchange Commission (the “SEC”) on August 28, 2025 and our other filings with the SEC. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement included in this press release speaks only as of the date of such statement. Except as required by law, IREN disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

– Published by The MIL Network

Source: Radio New Zealand

New Zealand is exporting much of its premium product – and then importing cheaper options for New Zealand shoppers, economists say.

Pak’nSave’s move to sell United States butter more cheaply than local butter has prompted conversations about how it is possible for imported items can be offered at a lower price than those produced in the country.

But trade data shows that butter is far from the only item that has a higher price when it’s made in New Zealand.

Cat and dog food was cheaper when imported. Dog biscuits – most imported from Australia, Canada, and China – were 87.6 percent cheaper than the export price of New Zealand products.

Water with added flavouring was also 25 percent cheaper when brought in from countries like the United States than the local product was exported.

Jams and marmalades were 21.9 percent cheaper when imported – often from Chile and Poland.

We also import cheaper wine than we export – among still wines, imported products were 25 percent cheaper. Australian wines were 54 percent of imports.

Confectionary, including white chocolate, was 37.8 percent cheaper when imported, mostly from Australia and China. Sweet biscuits were 64.4 percent cheaper imported, usually from Australia,

Some beef and lamb cuts imported for New Zealand consumers were also cheaper than those exported.

“We’re quite often exporting premium products to a premium market segment, whereas we’re importing the commodity stuff for the mass market,” economist Shamubeel Eaqub said.

“It’s picking up that difference in what we export versus what we consume. But it still begs the question, if we’re so good at making these things, why is it that we can’t have some of those other products, as well? Why is it that we’re reliant on imports? It’s not necessarily a good or bad thing, it’s just a question.

“I think to me it raises the question of is it really not possible to produce pet food for our pets in New Zealand given all the bobby calves we have? The fact we’re importing beef from Aussie and lamb from Aussie… I’m driving through Southland at the moment and seeing a lot of cows and sheep.”

He said there was a “spaghetti junction” of food going out and food coming in to meet different needs.

Westpac chief economist Kelly Eckhold said it was probably driven by economies of scale.

“It could be that these things are being manufactured in large facilities in Australia or up in Asia. They just have that economy of scale, perhaps reflecting lower input costs as well if these are energy-intensive products.

“Canned vegetables, fruit juice things like that… you wouldn’t automatically think that these would be energy-intensive processes but they kind of are. Countries like China are quite competitive because their costs of production are lower.”

He said New Zealand wine would be more of a premium product than much of the product that was being imported more cheaply.

“If you had it broken down by colour, I bet you would find that if we export red wine it’s probably pinot noir, but it would be more expensive than the typical red wine that would be imported into this country.

“In some of these industries if we’re exporting it’s because we’re a niche or premium end of the market.”

ANZ economist Matt Dilly said it would help to think of how competitive New Zealand was in various products. “I’d say most of our wine exports are in a category that I’d call affordable luxury. A typical bottle maybe $20 a bottle, maybe a bit less, maybe a bit more. But we do import a lot of cheaper wine from Australia. I think that’s a situation where we have a competitive advantage. We make excellent wine and export a lot of it but that doesn’t mean there are zero imports.

“We do import beef and lamb even though we’re really great at that. We import some cheese and some of those varieties we don’t make ourselves, especially European varieties.

“This framework about what we’re competitive in and what’s easily traded, there’s always going to be exceptions.”

“We import a lot of wheat, a lot of pork, vegetable oil. So these are things that are really tradable that, we don’t have a great competitive advantage in like we do for dairy and some of our other large products.

“Then there’s those other things that are naturally very difficult to trade, especially from an island country. So we make really good eggs, but we don’t export them because they’re fragile and perishable… have a (pretty robust two-way trade with Australia, going in both directions across the Tasman and, and that’s a function of our shared food safety system. So that’s something that’s really good for processed food products rather than the raw materials.”

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

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Source: Media Outreach

The five-year extension ensures operational continuity at one of Thailand’s leading container terminals, supporting the country’s expanding role in intra-Asian trade

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