Fuss about citizenship reminiscent of Takaro Lodge Flap. Midas Silicon Valley investor Peter Thiel backed Facebook, Paypal, and Xero. But his founding of crime and insurgency systems developer Palantir currently valued at $20 billion can be considered less than helpful to floundering New Zealand law-and-order systems producer Wynyard Group. On Wednesday, 02 November 2016 in:-  Wynyard Class Action Must Identify Litigation TargetsMSC Newswire reported: “Wynyard for example walked into this kind of Silicon Valley deep-pocket storm when it found itself confronted with sometime New Zealand resident and Tolkien buff Peter Thiel’s Palantir crime product.” Underpinning Mr Thiel’s right to New…

The minimum wage will increase by 50 cents to $15.75 an hour on 1 April 2017, Workplace Relations and Safety Minister Michael Woodhouse announced today. The starting-out and training hourly minimum wage rates will increase from $12.20 to $12.60 per hour, remaining at 80 per cent of the adult minimum wage. “The Government is committed to striking the right balance between protecting our lowest paid workers and ensuring jobs are not lost,” says Mr Woodhouse. “An increase to $15.75 will benefit approximately 119,500 workers and will increase wages throughout the economy by $65 million per year. “At a time when…

Auckland Chamber launches confidential service to ensure employers meet New Zealand wage regulations. Increasing numbers of migrants and younger workers being taken advantage of by employers; notes Auckland Chamber head Michael Barnett. Anyone who believes they have been underpaid, had their passport confiscated or wanting to clarify their employment conditions can register confidentially on a dedicated website: www.paychecknz.co.nz. “We will investigate the situation in complete confidence,” said Mr Barnett. He stressed that the Chamber was not being anti-employer in setting up the service. “But we don’t want the vast majority of good employers to be branded by the minority.” Through…

The UK's Association of Professional Staffing Companies (APSCo) plan to open an office in New Zealand in 2017 according to an article in Recruiter titled 'May’s way means recruiters must think of new ways to attract talent'May’s way means recruiters must think of new ways to attract talent'  Samantha Hurley, operations director at the Association of Professional Staffing Companies (APSCo), welcomed the PM's commitment to continuing to attracting the “brightest and the best” from across the globe to work or study in Britain. “All the countries interested in negotiating trade agreements with the UK – Singapore, Australia, New Zealand and…

MELBOURNE, Australia, Jan. 18, 2017 (GLOBE NEWSWIRE) -- Mondelēz International, Inc. (NASDAQ:MDLZ) has reached an agreement to sell most of its grocery business in Australia and New Zealand to Bega Cheese Limited (ASX:BGA) for $460 million AUD. The transaction adds the iconic VEGEMITE brand and other well-established grocery brands to Bega’s portfolio. The move enables Mondelēz International to further focus its portfolio and drive profitable growth by investing in its core snacks categories and Power Brands, including Cadbury Dairy Milk chocolate and Oreo biscuits. “We’re extremely proud of our history as the custodian of the VEGEMITE brand for over 90…

New Zealand Oil & Gas has secured a 50.01 per cent holding in its subsidiary, ASX-listed Cue Energy Resources. “Our controlling interest in Cue provides diversified exposure to Cue's production and exploration interests in Australia, New Zealand and Indonesia,” New Zealand Oil & Gas Chief Executive Andrew Jefferies said. Cue has production from its interest in the Maari oil field off Taranaki, and from the Sampang PSC in East Java, Indonesia. It has a portfolio of exploration including the substantial Ironbark prospect in the Carnarvon basin off West Australia, and in Indonesia. “Cue has cut costs significantly, and refined its…

The Reserve Bank has appointed Klarissa Plimmer as Chief Information Officer and Patrick Hoerler as Head of Risk Assessment and Assurance. As Chief Information Officer, Klarissa Plimmer is responsible for the Bank's information management and technology. Ms Plimmer was previously the Director ICT Solution Delivery at the New Zealand Defence Force, and has worked in a number of ICT leadership roles at the BNZ for 13 years. Patrick Hoerler heads the Bank's Risk Assessment and Assurance unit, which is responsible for ensuring that financial, operational, and reputational risks faced by the Bank are identified, monitored and managed in line with…

HNA Group bought Ingram Micro last year in a US$6 billion deal which closed in December and which makes Ingram Micro a subsidiary of HNA’s Tianjin Tianhai logistics, supply chain and financial services company. HNA, which has a financial arm which operates a diverse set of businesses in equipment leasing, insurance and credit services, will pay $660 million for UDC Finance with the deal expected to close in the second half of 2017, subject to approvals. UDC provides specialist asset-based finance to Kiwi businesses for plant, vehicles and equipment. Adam Tan, HNA Group vice chairman and chief executive, says UDC’s…

The Reserve Bank has released a new animated video explaining banking sector stress tests. Stress testing is a tool to assess how banks might cope with a severe economic downturn. The two-minute animated video explains how stress tests work and why the Reserve Bank uses them to monitor and respond to risks in the banking sector. The video is part of a series of animated videos prepared by the Reserve Bank. These include ‘The OCR and how it works’, ‘What is the economy?’, ‘Compound Interest’ and ‘What is money?’. Watch the video here: http://www.rbnz.govt.nz/research-and-publications/videos/stress-testing-animated-video    

Workplace Relations and Safety Minister Michael Woodhouse today announced two new appointments to the WorkSafe New Zealand Board. Stephen Reindler and Nikki Davies-Colley will join the board from 16 December for three year terms. “These appointments bring to the Board strong governance skills and experience in sectors which WorkSafe is particularly focused on,” Mr Woodhouse says. “Stephen Reindler is a very experienced director and engineer who has led health and safety programmes in large manufacturing, engineering, and transport companies. “Nikki Davies-Colley brings her governance experience in the farming, forestry and energy sectors and her health and safety initiatives have become…

Transport Minister Simon Bridges has made some appointments to the Maritime New Zealand (MNZ) Board. Commercial law partner, Kylie van Heerden, has been appointed as a new member. “Ms van Heerden has experience advising clients on corporate and commercial matters, including company compliance and governance. Her appointment will bring commercial legal skills and an injection of fresh energy to this Board,” Mr Bridges says. Mr Bridges has also reappointed Belinda Vernon who has been a member since May 2013 and chairs its Audit and Risk Committee. “Ms Vernon’s reappointment will provide continuity, and she brings financial and business skills in…