French owners of jam, juice and sauce company Barker’s will start processing at a new factory near Geraldine by the end of the year as part of a $50 million to $60m expansion project.
The collapse of large retailer Smiths City has liquidators expecting many creditors will go unpaid after adding up more than $26.8 million in liabilities.
The Reserve Bank has opted for boldness over caution as it delivered a 50-basis-point cut to the official cash rate to 2.5%, and signalled further reductions.
Construction teams will swell to 150 contractors on Fonterra’s new $150 million ultra-high temperature cream plant at Southland’s Edendale site in coming months.
WorkSafe inspectors will visit 1000 farms before the end of the year, focusing on the safety of quadbikes and other risks to prevent agriculture becoming the deadliest sector in New Zealand again.
Another business linked to Christchurch property developer Andrew Bendemski has folded, leaving a string of connected companies owing at least $35 million to creditors.
NZ's biggest insurance company, IAG, has been penalised $19.5m for overcharging nearly 250,000 customers tens of millions of dollars by not giving them promised discounts and benefits.