Weekly Digest – 20 September 2023

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

Time to ditch our obsession with degrees

New Zealanders need to get over their preconception that a degree is better than going into a trade if the country is to tackle its skills shortage, one economist says.

Service sector activity contracted last month, says BusinessNZ

Services sector activity levels are falling at a faster pace and indicate the broader economy contracted in the third-quarter, says BusinessNZ.

The need for and production of food isn’t going away

Angus Kebbell says we should celebrate the work farmers do, and make sure the progress they make on climate change is science-based to protect global food security.

People and technology are the key to helping businesses thrive

Business leaders are facing a whole new operating environment in 2023 as their focus shifts completely away from the pandemic and towards managing rising costs and improving productivity, according to a recent study.

A2 Milk cancels exclusive supply agreement with Synlait

Speciality dairy company A2 Milk has cancelled its exclusive supply agreement with specialty milk producer Synlait after its delivery fell “below the level required for Synlait to maintain such exclusive rights”.

Borrowers left in ‘mortgage prison’ as firms quit personal lending market

A Commerce Commission inquiry has been warned that Kiwi borrowers will be unable to shift to more competitive lenders because of tough new credit rules. HSBC, Goldband Finance and Mutual Credit Finance have all made the decision to exit home, car and consumer lending, saying compliance costs have made it financially unsustainable.

Sealord agrees to buy Independent Fisheries, creating NZ’s largest seafood business

Deepwater fishing company Sealord has agreed to buy Independent Fisheries, which would make it the country’s biggest seafood business.

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