Founded by Max Farndale 1947 - 2018
Nov 21, 2017 - The FMA has today published KiwiSaver data in an interactive format to prompt discussion, engagement and debate on the relationship between investment risk, returns and fees. The FMA KiwiSaver Tracker uses the information KiwiSaver providers give investors through their quarterly fund updates and via the Companies Office’s Disclose Register. These updates are a legal requirement and the Tracker will automatically incorporate the new information every three months.
The Tracker is part of the FMA’s ongoing focus on using disclosure to drive good conduct by providers and informed investor decision-making. The tracker complements other existing independent sources of KiwiSaver analysis, like Sorted’s Fundfinder.
The Tracker allows people to arrange and sort the data. It shows:
Paul Gregory, FMA Director of External Communications and Investor Capability said, “We regularly encourage investors to look carefully at who is managing their money and what the results and costs are.
As KiwiSaver matures, balances are increasing and more people are looking at what’s inside their KiwiSaver. This will increase demands for transparency. The market is also changing, with new lower-cost entrants, the potential impact of robo-advice and policy changes requiring fees to be disclosed in dollar amounts.
The information in the KiwiSaver tracker about fees and return is an important factor in considering your investment, but it is not sufficient information to make an investment decision. This is why we link to providers and the Fund Finder tool to discover further information.” Mr Gregory added.
Investors involved in early tests of the tracker showed particular interest in the scatter plot of KiwiSaver fund fees and returns.
Mr Gregory said, “People like to see where their fund and other similar funds sit in a plot. Over 5 years, there certainly seems to be a link between higher risk investments and higher returns. However, the link between higher fees and higher returns is, apart from in the case of a couple of standout funds, far less obvious.”
Investors are encouraged to talk to their provider if they have questions about KiwiSaver in general, or their specific fund. The contact details for each fund are provided in the Tracker.
The Tracker has been designed to enable users to embed it within their own website. The FMA also welcomes feedback, suggestions and comments on the Tracker.
The tracker can be found here.
| A Financial Markets Authority release || November 21, 2017 |||
Nov 21, 2017 _ On October 20, 2017, Mastercard announced that developers would be able to access its blockchain technology platform via its Mastercard blockchain API published on Mastercard Developers writes Giulio Prisco on nasdaq.com.
The new service was launched during the Money20/20 Hackathon in Las Vegas after testing and validation had been completed. According to the company, Mastercard's blockchain solution "provides a new way for consumers, businesses and banks to transact and is key to the company's strategy to provide payment solutions that meet every need of financial institutions and their end-customers."
Mastercard wants to provide an easy-to-use, permissioned platform to its network of developers and partners, designed for privacy, flexibility and scalability. According to the company, Mastercard's blockchain technology platform provides privacy by ensuring that transaction details are shared only amongst the participants of a transaction while maintaining a fully auditable and valid ledger of transactions; flexibility by providing the blockchain APIs and a wider suite of Mastercard APIs, with software development kits available in six different languages; and scalability to commercial processing speed. Mastercard emphasizes that its blockchain technology is integrated into the company's widely popular payment network.
At this moment, the Mastercard blockchain website for developers states that, due to an overwhelming amount of interest in Mastercard's blockchain, "We are limiting access to our API documentation to a select audience at this time."
Besides specific use cases such as Proof-of-Provenance and vehicle service history, Mastercard notes that the global market opportunity for peer-to-peer (P2P) bank transfers is $16 trillion. Mastercard intends to take advantage of blockchain technology and the Mastercard Settlement Network to transfer funds between bank accounts.
"The Mastercard Settlement Network reads the blockchain and will transfer the funds between two banks," stated Mastercard. "It then writes a confirmation of transfer to the Mastercard blockchain."
According to Mastercard, the company operates the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Besides developing its own blockchain platform, Mastercard had previously filed for over 35 patents related to blockchain technology, invested in Digital Currency Group and joined the Enterprise Ethereum Alliance to explore the possibilities of Ethereum technology across a wide range of potential use cases.
"This move comes as a bit of a surprise, as Mastercard previously issued a blanket rejection of Bitcoin," reads a commentary published in Futurism . "Still, Mastercard's blockchain service heralds what Ethereum co-founder Vitalik Buterin described to be blockchain's potential to replace credit cards."
It appears that the payment processing giant, realizing that blockchain technology is here to stay and disrupt the credit card industry, is accelerating its blockchain-related plans. Last week, Mastercard filed a new patent for a " Method and System For Instantaneous Payment Using Recorded Guarantees ."
While it may seem that Mastercard is trying to patent blockchain technology itself, the filing is more specific and targets fast, verifiable and guaranteed payments on a blockchain network.
Mastercard noted that, while fiat currency enables merchants to receive instant payments, it may take several days for a merchant to receive electronic payments due to processing, clearing and settlement times. On the other hand, credit cards are more convenient for consumers. Therefore, according to the filing, there is a need for a technical solution that allows merchants to receive instantaneous, guaranteed electronic payments while maintaining a high level of consumer convenience.
| A Nasdaq release || November 20, 2017 |||
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Nov 21, 2017 - An exciting new era in America’s Cup racing has been unveiled today as the concept for the AC75, the class of boat to be sailed in the 36th America’s Cup is released illustrating a bold and modern vision for high performance fully foiling monohull racing yachts.
The Emirates Team New Zealand and Luna Rossa design teams have spent the last four months evaluating a wide range of monohull concepts. Their goals have been to design a class that will be challenging and demanding to sail, rewarding the top level of skill for the crews; this concept could become the future of racing and even cruising monohulls beyond the America's Cup.
The AC75 combines extremely high-performance sailing and great match racing with the safety of a boat that can right itself in the event of a capsize. The ground-breaking concept is achieved through the use of twin canting T-foils, ballasted to provide righting-moment when sailing, and roll stability at low speed.
The normal sailing mode sees the leeward foil lowered to provide lift and enable foiling, with the windward foil raised out of the water to maximise the lever-arm of the ballast and reduce drag. In pre-starts and through manoeuvres, both foils can be lowered to provide extra lift and roll control, also useful in rougher sea conditions and providing a wider window for racing.
Although racing performance has been the cornerstone of the design, consideration has had to be focused on the more practical aspects of the boat in the shed and at the dock, where both foils are canted right under the hull in order to provide natural roll stability and to allow the yacht to fit into a standard marina berth.
An underlying principle has been to provide affordable and sustainable technology ‘trickle down’ to other sailing classes and yachts. Whilst recent America's Cup multihulls have benefitted from the power and control of rigid wing sails, there has been no transfer of this technology to the rigs of other sailing classes. In tandem with the innovations of the foiling system, Emirates Team New Zealand and Luna Rossa are investigating a number of possible innovations for the AC75's rig, with the requirement that the rig need not be craned in and out each day. This research work is ongoing as different concepts are evaluated, and details will be released with the AC75 Class Rule before March 31st, 2018.
The America's Cup is a match race and creating a class that will provide challenging match racing has been the goal from the start. The AC75 will foil-tack and foil-gybe with only small manoeuvring losses, and given the speed and the ease at which the boats can turn the classic pre-starts of the America's Cup are set to make an exciting comeback. Sail handling will also become important, with cross-overs to code zero sails in light wind conditions.
A huge number of ideas have been considered in the quest to define a class that will be extremely exciting to sail and provide great match racing, but the final decision was an easy one: the concept being announced was a clear winner, and both teams are eager to be introducing the AC75 for the 36th America's Cup in 2021.
The AC75 class rule will be published by March 31st 2018.
Continue here to read the full article with supporting images and video and video
| An Emirates Team New Zealand release || November 20, 2017 |||
Nov 21 2017 - Liberio Riosa is not one to get ahead of himself and he has grown his export business, LZ New Zealand, step-by-step over the past ten years. But he is hugely energised by a new patent the company is about to lodge which, he says, will redefine the maglev industry.
Continue to read the full article published in NZBusiness Magazine here || November 21, 2017 |||
Nov 21 2017 - Synlait Milk (NZX: SML; ASX: SM1) has opened its new Auckland site, which is home to its second state -of-the-art blending and consumer packaging facility. Located in Mangere, the site was officially opened today by Auckland Mayor Phil Goff at a ceremony alongside all staff. “We’re expecting customer demand for consumer packaged products to increase significantly in the near term,” said John Penno, Synlait’s Managing Director and CEO.
“We’ve invested $55 million into our Auckland site to meet this demand and expect commercial production to start here in the coming week.” With an annual packaging capacity of 32,000 metric tonnes (MT), the new site doubles Synlait’s overall canning capacity to 64,000 MT. “A tremendous amount of work has gone into this milestone. We acquired this partially-completed facility in May and have executed a significant programme of work to commission it in just over six months,” said Mr Penno.
“We have employed a great team of 30 people to operate this facility and we expect that number to increase to 100 in the coming year as we add additional shifts ,” adds Mr Penno. Mayor Goff said, “It’s a pleasure welcoming innovative, high value businesses such as Synlait to Auckland. The new site in the high growth commercial district around our airport will create 100 jobs in our city and increase the amount of safe, premium dairy products, for which New Zealand is well known, heading to major markets around the world.” The strategic decision to invest in Auckland has helped to mitigate some of the single site risk faced by Synlait with their original Dunsandel site in Canterbury, as well as increasing future growth in business with infant formula customers. “Under the Chinese Food and Drug Administration (CFDA) infant formula rules coming into effect on 1 January 2018, this second site gives us the opportunity to increase the potential number of our customer brands we can export to China,” said Mr Penno. Acquiring the partially-completed site has also allowed additional consumer packaging capacity to become available much earlier to Synlait than a new development would have.
“We are currently operating at capacity in our canning facility at Dunsandel. Having Auckland in place means we can meet our customers’ needs and continue to grow with them ,” said Mr Penno.
Registration of the new facility with both MPI (Ministry for Primary Industries) and CNCA (Certification and Accreditation Administration of the People's Republic of China) is progressing well. “We have conditional approval from MPI and we expect to finalise this, along with other registration requirements, very soon . We expect to commence commercial production this week, ” said Mr Penno.
| A Synlait release || November 20, 2017 |||
Nov 21 2017 - The valuable role played by the National Association of Women in Construction (NAWIC) in supporting women in construction for the past 20 years has been recognised with a President’s Award from the New Zealand Institute of Architects at their recent awards. NAWIC’s immediate past president, Donna Howell, who accepted this award on behalf of the organisation, says the award is a testament to the increased profile of women in construction resulting from decades of hard work by a dedicated team of volunteers and supporters.
“It is such an honour to receive recognition from the NZIA, as NAWIC is run by a team of volunteers with everyone from committee members right through to the board donating their time for this important cause.
“We run businesses, hold down demanding jobs and strive for a work-life balance but still find the energy and passion to honour our strong commitment to improving the construction industry, not just for women, but for everyone. Our focus on diversity will continue to drive improvements which will benefit everyone involved in construction.”
NAWIC has over 600 members throughout New Zealand. It has chapters in Auckland, Wellington and Canterbury, along with a satellite group in Taranaki which was formed last year following requests from women working in the local construction sector.
Donna says that further satellite groups are likely to be established during the coming year in response to demand from the regions. She encourages women and men in all sectors of the construction industry from students and apprentices through to trades people and business owners to connect with NAWIC.
“We are keen to continue our fast pace of expansion. A number of men have approached our organisation following our recent successful women in construction panel event at Auckland Build, and are keen to get involved. We already have a number of male members and are keen for more to get on board as the only way we can achieve real progress in New Zealand’s construction industry is through everyone working together to build a better future.”
| A NAWIC release || Vovember 20, 2017 |||
Nov 21 2017 - The Minister of Foreign Affairs and the Minister of Agriculture today announced that the New Zealand Government has nominated Dr John Barker for the position of Director General of the International Organisation of Vine and Wine (OIV). The successful candidate will take up the position in January 2019. The OIV is an intergovernmental organisation which issues recommendations on viticulture and winemaking practices. It has 46 Member States and 13 Observers.
“Dr Barker understands the challenges and opportunities that face the organisation and the wine sector, and he has both the vision and the competence to ensure that the OIV can fulfil its role as the trusted vine and wine reference body for a rapidly changing market,” said Mr Peters.
“New Zealand’s membership in the OIV gives us the opportunity to identify and influence strategic global debates in areas affecting one of New Zealand’s most successful and fastest growing export industries,” he said.
Wine is New Zealand’s fifth largest goods export, worth approximately NZ$1.7 billion in the year ended June 2017. Global exports are growing at approximately 10 percent per annum, and are expected to reach NZ$2 billion by 2020.
“New Zealand’s nomination of Dr Barker for the role of OIV Director-General signals our commitment to an organisation that is critical to the way wine is regulated in our key export markets,” said Mr O’Connor.
“The OIV plays an important role in helping to facilitate ongoing trade through establishing relevant technical standards for wine and wine products,”
Dr Barker is currently a Principal at John Barker Law. He has long-standing experience as New Zealand Winegrowers’ General Counsel, and has held several roles in the OIV – including the Presidency of the OIV’s Law and Economy Commission. He knows the people and the issues within the OIV, and also has positive and longstanding wine sector relationships with the countries and organisations outside the OIV.
| From the Beehive || November 21, 2017 |||
Nov 21 2017 - New Zealand hopes to be exporting fresh avocados to China soon after talks to meet regulatory requirements. A protocol has been signed between the Ministry for Primary Industries and China's General Administration of Quality Supervision, Inspection and Quarantine.
AQSIQ will audit New Zealand's system for exporting avocados in mid-December.
New Zealand already exports fresh apples, kiwifruit, cherries, plums, citrus and persimmons to China and it's hoped a significant market can be built for avocados.
In the 2016/17 season, New Zealand produced a record 7.9 million trays of avocados worth more than $200 million.
About $155.5m worth of avocados were exported to markets such as Australia, Japan, Singapore, Korea and Thailand.
"China is very aware of the significant global increase in avocado consumption, the associated health benefits and the strong growth and huge potential in the avocado category," says New Zealand Avocado chief executive Jen Scoular.
| FreshPlaza || November 20, 2017 |||
Nov 20 2017 -- A major technological breakthrough by a Kiwi company makes it simple for New Zealanders to be tested for vitamin C blood levels. Newly released data from a University of Otago study shows more than two thirds of Kiwis over 50 are low in vitamin C, more than one in 10 severely so. The Otago researchers say it is time blood is routinely checked for vitamin C levels, as it is now for cholesterol and iron. Vitamin C deficiency can lead to scurvy and other illnesses.
To date, existing technology using a blood sample extracted in a laboratory is only available in some parts of the country and not often utilised.
That is why Auckland company Feedback Research Limited spent five years developing its Feedback C Meter, a more accessible, easier point of care test for vitamin C.
Ground-breaking product
CEO for Feedback Research Jackson Perry says the company believes its patented test for vitamin C is a world first. The company hopes to market the Kiwi-developed product locally next year and worldwide within two years.
Mr Perry is confident the finger prick test would allow vitamin C testing to become as commonly used as blood glucose or cholesterol finger prick tests.
“We are very close to the finish line, and the last piece of the puzzle is finding a local company that can help with vacuum packing the electrodes in foil, which is commonly used for glucose test strips. Our goal is to keep the design and manufacturing of the meter in New Zealand.” If the company can’t find a local partner for this step, it would have to be shipped offshore, Mr Perry says.
“It is very common in New Zealand to test for vitamin B12 and D, but for reasons unknown to us, vitamin C is not routinely tested.”
Scurvy risk identified
In the University of Otago study 400 Christchurch people’s blood was tested for vitamin C.
Only 7% had optimal levels and 13% had very low levels showing pre-clinical signs of scurvy.
“Vitamin C plays a significant role in health, as a wide range of bodily functions depend on optimal levels,” Mr Perry says.
“Dietary changes are effective in overcoming most basic deficiencies. Where appropriate there are a multitude of dietary supplements available, some of which are government subsidised.”
Mr Perry believes low vitamin C levels are largely due to our modern diet and lifestyle.
“Processed, over cooked foods contain very little vitamin C. Stress, chronic and acute illnesses all increase the need for vitamin C, which can only be replaced by eating enough vitamin C rich foods and or supplementation.”
| A Feedback Research Limited release || november 20, 2017 |||
Palace of the Alhambra, Spain
By: Charles Nathaniel Worsley (1862-1923)
From the collection of Sir Heaton Rhodes
Oil on canvas - 118cm x 162cm
Valued $12,000 - $18,000
Offers invited over $9,000
Contact: Henry Newrick – (+64 ) 27 471 2242
Mount Egmont with Lake
By: John Philemon Backhouse (1845-1908)
Oil on Sea Shell - 13cm x 14cm
Valued $2,000-$3,000
Offers invited over $1,500
Contact: Henry Newrick – (+64 ) 27 471 2242
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