Weekly Digest – 19 October 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Cruise ships returning to Tuaranga a welcome sight for retailers

Tuaranga welcomed its first cruise ship since 2020 this week. Head of the Tauranga Chamber of Commerce, Matt Cowley, said Pilot Bay was teeming with shoppers.

Prices continue to climb for food staples

New data from Stats NZ shows that food prices continue to climb and are at a 13-year high. Nothing is spared from the increases, including traditionally cheap staples like two-minute noodles.

Green Party calls for clearer rules for Rocket Lab

Critics of New Zealand-based Rocket Lab say there is no guarantee that its launches for foreign governments will not be used to facilitate the use of nuclear weapons. Rocket Lab maintains that they would not deal in weapons.

New Zealand ranked 136th in the world on tax system fairness

Oxfam Aotearoa advocacy and communications director Dr. Jo Spratt says our tax system doesn’t do enough to help reduce the issue of wealth inequality in this country.

UK financial chaos makes waves worldwide

The recent chaos on the UK financial markets has generated massive selling by investors far beyond the UK. Combined with high inflation, rising interest rates, and the war in Ukraine, they have raised fears the turmoil in the UK could set off a wider crisis.

Air New Zealand needs to borrow a plane

Demand for domestic air travel over the upcoming holiday season is so robust that Air New Zealand is looking to lease a plane from another airline to meet it. It’s a strategy they have used in the past, before the pandemic.

FMA taking Vero to court

Insurance giant Vero is facing High Court action from the Financial Markets Authority after allegedly overcharging customers more than $8 million.

Elon Musk threatens to cut off internet in Ukraine

Elon Musk’s Starlink has reportedly threatened to pull its satellite internet service from Ukraine unless the Pentagon starts paying for the vital battlefield communication system. The satellite service helps Kyiv’s troops to communicate.

Kiwis spent more as covid restrictions eased

Though there are signs of slowing, consumer spending is continuing to hold up now that covid restrictions are gone. A big jump in entertainment and services was noticeable, along with a decrease in spending on physical goods.