Business News

Revolution Fibres skincare product sells out in South Korea

A natural New Zealand skincare product has sold out in online sales after just two hours on South Korea’s most influential home shopping network. The manufacturer of the skincare product, Auckland-based nanofibre producer Revolution Fibres, has now switched its production capacity to face masks to meet COVID-19 demand and to increase the local supply of critical Personal Protective Equipment (PPE). Ray Connor, Revolution Fibres CEO, says while the South Korea campaign was successful, following the COVID-19 announcements Revolution Fibres priority switched to manufacturing filter media for N95 face masks. “Filtration for respiratory protection from pollution and viruses is what Revolution Fibres made its name on 10 years ago. We have the expertise and we are increasing our capacity to fulfil large scale orders for face masks which are increasingly in demand.” With AcitvLayr now sold out in South Korea, Revolution Fibres will ramp up production of the skincare product once the lockdown is finished in New Zealand alongside the continued manufacture of filter media for face masks. ActivLayr is made from premium marine collagen and was developed through an intensive research and development programme over several years, with funding support from the Seafood Innovations Ltd and in collaboration with Sanford and Plant & Food Research. ActivLayr was advertised on influential South Korean home shopping channels GS and Lotte across two hour-long segments showcasing the skincare product to tens of millions of consumers. The advertising campaigns for ActivLayr focussed on the premium Tier 1 marine collagen combined with hyaluronic acid (an ingredient to help the skin retain moisture) to deliver an advanced cosmetic application. The ActivLayr technology is a versatile platform and has been shown to effectively and efficiently deliver a broad range of active ingredients directly into the intradermal and subdermal regions of the skin. Iain Hosie, Revolution Fibres […]

Soul Machines and Florence to assist tobacco users quit during Covid-19

Soul Machines has joined the World Health Organisation’s (WHO) Access Initiative (AI) for Quitting Tobacco to help share WHO’s life-saving information during the Covid-19 pandemic, combat misinformation, reduce the risk of Covid-19 and help over one billion tobacco users quit. Florence, the WHO’s first digital health worker, was created using Soul Machines technology and WHO technical guidance, with support from Amazon Web Services and Google Cloud. Florence will help provide clarity and expel damaging myths around Covid-19 and will specifically address smoking and its consequences – heart disease, cancer, diabetes, and respiratory diseases – all of which are comorbidities with Covid-19. With Florence, smokers can engage with a digital health worker to develop a quit plan and rely on a trusted source anytime and anyplace, to help them feel confident to reach their quit goals. Initially available in English, Florence will, over time, be available in all six official UN languages. Smokers are more exposed to the Covid-19 virus and are at greater risk of having severe disease complications. Although around 60% of the 1.3 billion tobacco users globally want to quit, only 30% of them have access to tools that can help them quit. As a digital health worker for WHO, Florence will help give the increasing numbers of people globally who have a desire to quit smoking during the Covid-19 pandemic a new, safe, easily accessible and engaging channel. Florence can scale seamlessly and to talk to many individual people around the world and is available 24/7 with no wait times, as a simple video stream from the cloud to any device. This frees up critical people resources and provides a user-friendly solution to an overwhelming demand for clear, concise information that can be relied on. Florence will always be available when needed and ready to engage to […]

NZAS terminates electricity contract, to wind-down operations following strategic review

Melbourne: Rio Tinto will start planning for the wind-down of operations and the eventual closure of New Zealand Aluminium Smelters (NZAS) following the conclusion of its strategic review which has shown the business is no longer viable given high energy costs and a challenging outlook for the Aluminum industry. As a result, NZAS has given Meridian Energy notice to terminate the power contract, which will end in August 2021, when the wind-down of operations is expected to complete. The strategic review concluded that the smelter, which has made Rio Tinto an underlying loss of NZ$46m in 2019, is not economically viable due to energy costs that are some of the highest in the industry globally, coupled with a challenging short to medium term aluminum outlook. Extensive discussions with a wide range of interested parties have failed to secure a power contract that will enable the operation to become both competitive and profitable. During the next 14 months, NZAS and Rio Tinto will work closely with partners as detailed planning is undertaken to wind-down operations, and eventually close the smelter. Rio Tinto Aluminium chief executive Alf Barrios said “We recognise the decision to wind-down operations at NZAS will have a significant impact on employees, the community and our customers. “It is not a decision we have made lightly and without significant careful consideration. It is very unfortunate we could not find a solution with our partners to secure a power price reduction aimed at making NZAS a financially viable business. We will therefore terminate the power contract and move to close the operation. “We are committed to working with our partners as we progress through detailed planning towards closure and we will do all we can together with the government to find ways to support the Southland community.” NZAS is a […]

BusinessNZ welcomes investment in apprenticeships and trades training

Apprenticeship and trades training support will help firms get the skills they need and position New Zealand well for the future, says BusinessNZ Chief Executive Kirk Hope. “The suite of trades training initiatives supports a range of different models to help people get the skills they need. The Budget package provides a real opportunity for companies and education providers to work together to find ways to turbo charge the skills development New Zealand needs. “A skilled and adaptive workforce will be an important part of the economic recovery, and position New Zealand well for the future. Being able to get the people and skills they need to thrive is critical for New Zealand businesses. It is good to see the Government acknowledge the critical role that industry leadership needs to play in our skills system.” As well, the Government will provide a more than $200 million boost to NZ Trade and Enterprise to expand the scope and intensity of support provided to firms. In addition, a $10 million fund is being set up to provide incentives and grants to encourage e-commerce, train more digital advisors and provide information and support for SMEs wanting to incorporate e-commerce into their business models. Budget 2020 also sets aside $80 million to encourage entrepreneurs and businesses to develop new products by enabling them to claim tax deductions for unsuccessful or abandoned assets. BusinessNZ chief executive Kirk Hope says small to medium-sized businesses are the lifeblood of New Zealand’s economy. “We are glad to see the Government provide further support to small businesses and encourage entrepreneurship. “New Zealand might be small, but we have proven it can produce strong global companies and with the right support the next Xero, Pushpay or Rocket Lab can emerge.” In addition, the Government has put aside $150 million for […]

Closed borders demand more investment in local workforce

With the number of migrants to New Zealand likely to significantly reduce in the next few years, employers will have to look to other diverse groups in our workforce to ensure their business thrives. Massey University’s Distinguished Professor Paul Spoonley says the Covid-19 crisis means the supply of temporary and permanent migrant workers to New Zealand is currently turned off. “And it might remain turned off, depending on the visa category, for between 12 months to three years,” he says. Diversity Works New Zealand Chief Executive Maretha Smit says this means businesses who have relied on immigration to fill labour and skills shortages will have to look at different ways to bolster their workforce. “We would like to see New Zealand organisations more engaged with the older generation in the workforce. Employers should be talking to their wisdom workers to find out how they can retain their skills and institutional knowledge while still accommodating the different ways they may want or need to work as they age,” she says. Fewer migrants will also mean that businesses need to more actively reach out to our younger New Zealanders. “If our economy slows down, there is a risk we could end up with more NEETs (young people not in education, employment, or training),” Smit says. “Forward-thinking leaders should be planning now to invest in those young people and bring them into their organisations to create the workforce they need for future success.” Spoonley has been leading the team analysing data from the 2020 New Zealand Workplace Diversity Survey. The survey report will be made public on Wednesday, 6 May but initial findings suggest ageing and employment transition for younger staff do not appear to be important considerations for employers. But he believes that, for some industries at least, they will become increasingly […]

Robotics tutor creates real time map of PPE demand

As part of his volunteer work for ShieldsUp, an organisation established at the start of lockdown which called on volunteers to 3D print personal protective equipment (PPE) to fill the shortage gap, WelTec tutor Frank Beinersdorf has developed a real time map of how many, and where, protective shields are needed across New Zealand. Frank’s map is what Shieldsup uses to determine how many shields need to be made, and provides information to the many volunteers tasked with delivering the equipment. Using various icons, the map displays priority of orders, what orders are ready to go, or are on the way, and a heat map of what is still needed. There is also a visual chart to demonstrate demand over time and a chart tracking Covid cases in New Zealand. The map and information can be found here: https://beinerf.github.io/. “Frank’s work became invaluable as we grew beyond lists and text,” says Tim Carr, ShieldsUp founder. “What he did in regard to visualising a rapidly growing data set has allowed us to see where resources were needed and demand was growing.” ShieldsUp is a community driven initiative, conceived from the outcry of medical and emergency responders facing COVID-19 head on, as they put their own health at risk in their jobs to help protect others, often without the personal protective equipment they so desperately needed. As well as providing information on numbers and location of PPE required, Frank has also converted the data into useful quick facts, kept up to date real time. For example, on Tuesday May 5th, over 18, 000 shields were still needed, 22 242 were wanted and 16, 521 had been made and delivered by 254 volunteers across New Zealand. In the spirit of community from which ShieldsUp was created, Frank included fun facts in his data […]

ACC levy freeze relief for businesses

The EMA is pleased with the Government’s announcement today that it is freezing ACC levies, paid by businesses, the self-employed and motorists to cover the costs of accidents, for two years. Manager Employments Relations and Safety, Paul Jarvie, says it will provide certainty for businesses that will help them with their budgeting. “We want to see more of these kinds of decisions from the Government that will make a real difference to all businesses post-COVID-19, and to the overall economy’s regeneration,” he says. Mr Jarvie cautions though that any gains made from freezing the levies for the next two years cannot come back as hikes when the freeze finishes. “We appreciate it’s very difficult, but we hope that ACC will also be very conscious of managing medical costs over the next two years so businesses aren’t hit with additional costs in the end.”

Good to Great: A live event

The American Chamber of Commerce NZ is delighted to again partner with the Growth Faculty to invite you to Jim Collins – Good To Great, a live virtual event. JIM COLLINS, best-selling author and globally revered thought leader will present a powerful and exclusive live virtual event; Good To Great – What Makes Great Companies Tick In Uncertain Times Responding to these highly volatile and unpredictable times, Jim will deep dive into his best-seller Great by Choice which answers the question “Why do some companies thrive in uncertainty, even chaos, and other do not?” This rare opportunity provides CEOs and their teams unprecedented access to Jim Collins for 2.5 hours of deep learning, allowing time for Q & A on how Jim’s concepts apply in these challenging times. In this highly interactive virtual event you will… · Align your leadership team with the greatest thought leader of our time · Uncover the leadership behaviours needed in a world overwhelmed by turbulence, disruption and uncertainty · Learn the disciplines required to deal with turmoil and change in your environment · Experience live Q & A interaction with Jim Collins ABOUT JIM COLLINS… Named one of Forbes 100 Greatest Living Business Minds, Jim Collins is a student and teacher of what makes great companies tick, and a Socratic advisor to leaders in the business and social sectors. Having invested more than a quarter century in rigorous research, he has authored six books that have sold more than 10 million copies worldwide. Jim’s classics include #1 best-seller, Good to Great, Great By Choice, Built To Last, How The Mighty Fall and Turning The Flywheel. An unmissable opportunity for CEOs, business leaders and lifelong students of Jim’s work. Be part of this incredibly rare opportunity to learn directly from Jim Collins. “We […]

Infrastructure spend good start for regions

The shovel ready projects infrastructure programme will inject almost $1 billion dollars into the EMA’s region in the Upper North Island, and generate important employment opportunities. Funds allocated for as yet un-named projects will see $970 million for projects from Taupo to the Far North with the Auckland region receiving around $500 million, but EMA CEO Brett O’Riley says he expects some areas will still be disappointed as their projects have missed out. “Over 1900 projects were submitted by Councils and groups around the country and that list has been whittled down to around 150 so naturally there will be some feeling left out,” says Mr O’Riley. “At this stage there are also no large-scale nation-building type projects and that will also surprise some. “But we have seen first-hand how relatively small-scale injections of capital into projects in smaller centres such as Whakatane, Kawerau and Opotiki can significantly raise business and community confidence, boosting jobs across the wider region.” Mr O’Riley said the projects identified in today’s list had an emphasis more on social infrastructure and rejuvenation rather than large-scale horizontal infrastructure such as major rail, road or building programmes. “Town centre rejuvenation projects in Taupo and Whangarei are designed to give those areas a lift and make them better spaces for residents and tourist when they return, while the roading projects announced around SH30 and interchanges in Rotorua open up access to Ngati Whakaue’s planned 1,100 home affordable housing project. “The $22 million allocated to Auckland City Mission’s HomeGround facility is another with social wellbeing at its heart addressing the homeless challenge in Tamaki Makaurau. It also provides significant employment during the construction phase and ongoing operation.” Just under $700 million of the $2.6 billion allocated today is for social and community-based projects with just over $700 million allocated […]

Unless we improve the law, history shows rushing shovel-ready projects comes with real risk

Alexander Gillespie, Professor of Law, University of Waikato If the road to hell is paved with good intentions, so too is the road to economic recovery if we don’t get it right. The Covid-19 Recovery (Fast Track Consenting) Bill, currently rushing through the parliamentary process, certainly has noble aims. In simple terms, the new law is designed to green light a number of projects that would normally take much longer to be approved under the Resource Management Act. In the process, its architects argue, it will boost employment and kickstart economic recovery. The trick will be balancing those aims with the law’s other lofty ambition “to promote the sustainable management of natural and physical resources”. History shows this is not always the way it goes. The past should guide us Governments often pass laws with vast powers during emergencies to drive economic recovery. The law of unintended consequences can take a lot longer to repeal. During the great depression in the 1930s, new laws to deal with mass unemployment were often degrading in practice. Unemployed people were sent far and wide from their homes to perform sometimes useless tasks. In the late 1970s, the National government of Robert Muldoon tried to reduce the country’s dependence on imports with so-called “Think Big” projects. Special laws were passed to circumvent normal planning mechanisms and we are still dealing with their economic and environmental consequences. The Clyde Dam, fast-tracked as part of the Think Big policy in the 1970s but with long-lasting problems. More recently, the Christchurch and Kaikoura earthquakes have pushed dozens of laws to one side. This resulted in citizens and communities struggling to be heard, be treated fairly and have their rights protected under the emergency recovery process. We are now inviting the same risks with the proposed fast-track consenting law. It will be the most radical shake-up of environmental regulation in […]

«‹ 54 55 56 57 ›»

News Ticker

Business News