Business
New Law Eliminates Card Surcharges, Saving Kiwis $150 Million

The Government of New Zealand has announced the elimination of card surcharges at the point of sale, a move expected to save consumers approximately $150 million annually. Commerce and Consumer Affairs Minister Scott Simpson confirmed that the ban will include additional fees associated with in-store credit and debit card transactions, such as paywave fees.
Simpson emphasized the need for pricing transparency in a competitive market. “Surcharges are annoying, they’re pesky and most customers don’t actually know whether they’re paying the full price,” he stated. This regulatory change aims to enhance consumer experience by ensuring that the prices displayed reflect the actual amounts customers will pay.
The decision follows extensive discussions among stakeholders in the retail sector, who recognized the burden these surcharges placed on shoppers. Many consumers expressed frustration over hidden fees that made it difficult to understand the total cost of their purchases. By removing these surcharges, the Government intends to foster a more straightforward and fair shopping environment.
Consumer Impact and Business Adaptation
With this new regulation, businesses will need to adapt their pricing strategies. The Government believes that removing surcharges will not only benefit consumers but also encourage businesses to compete more effectively on price. The hope is that this move will lead to a reduction in overall prices, enhancing affordability for New Zealanders.
Retailers will have to absorb the costs previously passed on to consumers through surcharges. This adjustment may prompt some businesses to reevaluate their pricing models and operational strategies to maintain profitability while complying with the new law. The Government is confident that, in the long run, this will lead to a healthier market where fair pricing prevails.
Simpson’s announcement marks a significant step towards consumer rights advocacy in New Zealand. By taking a firm stance against card surcharges, the Government is reinforcing its commitment to protecting consumers from unexpected fees and promoting transparency within the marketplace.
As this law takes effect in March 2024, Kiwis can look forward to a more transparent shopping experience, free from the frustrations of hidden surcharges. The Government’s proactive approach to this issue reflects a growing recognition of the need for consumer protection in an increasingly complex retail landscape.
Business
Taiwan’s Garbage Trucks Play Classical Tunes to Signal Trash Time

Taiwan has developed a unique way to manage waste collection that combines practicality with a cultural touch. Garbage trucks equipped with loudspeakers play classical music, signaling residents to take out their rubbish. This initiative has been part of the island’s waste management system for decades, ensuring that households are alerted to dispose of their waste at designated times.
The sound of familiar melodies such as Beethoven’s Fur Elise or Tekla Badarzewska-Baranowska’s Maiden’s Prayer fills the streets of Taipei as the bright yellow trucks make their rounds. Many residents have come to associate these tunes with the arrival of the waste collection service. “When we hear this music, we know it’s time to take out the trash. It’s very convenient,” shared 78-year-old Lee Shu Ning, who was waiting outside her apartment building in the capital.
As the trucks approach, residents emerge from their homes, bags of pre-sorted rubbish in hand. The system encourages proper waste segregation, as different types of waste are collected by separate vehicles. General refuse is tossed into the compaction truck, while food waste and recyclables are placed in designated bins carried by another truck. This organized method not only streamlines the collection process but also promotes environmental responsibility among the community.
The practice has garnered attention for its efficiency and the way it integrates into daily life in Taiwan. Residents have adapted to this auditory cue, making the task of disposing of waste a routine part of their day. For many, the music has become a nostalgic reminder of their childhood and a symbol of community engagement.
In addition to its practical benefits, the use of classical music in waste collection reflects Taiwan’s cultural appreciation for the arts. It fosters a sense of community as neighbors come together, often exchanging greetings while they wait for the trucks to arrive. This initiative highlights how a simple solution can enhance civic life and promote environmental awareness.
As Taiwan continues to innovate in waste management, the classical music trucks serve as a reminder of the importance of blending functionality with cultural values. This unique approach has proven effective, encouraging responsible waste disposal while offering a moment of connection among residents.
Business
EU Suffers Setback in Trade Negotiations with the US

The ongoing negotiations for a trade deal between the European Union (EU) and the United States (US) appear to favor the US significantly, leaving the EU in a vulnerable position. Recent analyses indicate that the terms of the proposed agreement represent a substantial concession from EU leaders. While the specifics of the deal have not been publicly disclosed, it is widely regarded as a major win for the US.
Donald Trump, the former President of the United States, is scheduled to meet with Sir Keir Starmer, the Prime Minister of the United Kingdom, to discuss the implications of this trade deal further. This meeting, which underscores the ongoing strategic dialogues between the US and UK, is anticipated to take place in the coming days, although the exact date remains unspecified.
Implications of the US-EU Trade Deal
The analysis of the trade negotiations has raised concerns among EU officials about the potential consequences of the deal. Experts suggest that the EU may be capitulating to pressures from the US, which could undermine its bargaining power in future negotiations. The lack of transparency surrounding the deal has sparked debates about the motivations behind the EU’s current stance.
Gavin Grey, a UK correspondent, has closely followed these developments and provided insights into the broader implications for international trade relations. According to Grey, the terms being negotiated may have long-lasting effects on both economies and could reshape the landscape of transatlantic trade.
The EU’s current position is particularly precarious as it grapples with various economic challenges, including inflation and energy dependence. Many analysts believe that the EU may need to reconsider its strategy to ensure it remains a competitive player on the global stage.
The Road Ahead
As the discussions progress, it remains crucial for EU leaders to assess the potential risks associated with this trade deal. Should the terms heavily favor the US, it could lead to a shift in economic dynamics, impacting not only trade but also diplomatic relationships.
The upcoming meeting between Trump and Starmer is expected to clarify the UK’s role in this evolving scenario, with both leaders likely discussing how the trade deal could affect their respective nations. The outcome of these negotiations will be closely monitored, as they could have far-reaching implications for future trade agreements and global economic stability.
As the situation develops, stakeholders in both the US and EU will be watching closely to see how this trade deal unfolds and what it means for their economic futures.
Business
Youth Unemployment Rises as Construction Jobs Drop by 18,000

Employment data released by Stats NZ indicates a significant decline in job opportunities within the construction and manufacturing sectors, with a total loss of more than 18,000 filled jobs over the past year. This downturn has particularly impacted younger workers, with the number of employed individuals aged 15 to 19 years decreasing by 10% compared to the previous year.
According to Michael Gordon, a senior economist at Westpac, these trends reflect a stark shift in the economy since the tight labour market experienced two or three years ago. Gordon emphasized that for many young workers, the principle of “last in, first out” appears to be in effect, making it increasingly difficult for them to return to employment once they have been out of work.
The decline in filled jobs highlights the challenges facing the New Zealand economy as it adjusts to changing labour market conditions. The construction sector has been particularly hard hit, losing a substantial number of jobs that were previously filled. This has raised concerns about the long-term implications for both economic growth and youth employment.
As the economy continues to evolve, the resilience of younger workers is being tested. Many are finding it challenging to secure new positions as the job market becomes more competitive. Gordon’s insights shed light on the pressing need for support systems to aid young individuals in their job search and ensure they have the necessary skills to meet the demands of a shifting economy.
The latest employment indicators serve as a crucial reminder of the ongoing impacts of economic fluctuations. With the labour market in a state of transition, there is an urgent need for targeted policies that address the rising unemployment rates among youth and support sectors that are struggling to recover from recent downturns.
Business
Job Ads Decline for Second Consecutive Month in New Zealand

Job advertisements in New Zealand have experienced a decline for the second consecutive month, according to data from employment website Seek NZ. In June, job ads fell by 3% compared to May and were also 3% lower than figures from the same month last year. This reduction in job listings coincides with indications that the country’s economic recovery is stalling as the year progresses.
Rob Clark, country manager for Seek, noted that job ad levels have remained largely flat over the past year. “While the volume remains below pre-COVID levels, there are pockets of growth, which should be cause for some optimism,” he stated.
Regional Variations in Job Advertisements
The decline in job ads was not uniform across the country. Regions such as Gisborne, Marlborough, and Southland were the only areas to report month-on-month growth in June. In contrast, major regions like Auckland and Canterbury experienced a 2% drop, while Wellington saw a more significant decrease of 4%. Otago remained unchanged, and Waikato reported a decline of 4% as well.
In terms of sector performance, the only industry to witness an increase in job volumes was the Information & Communication Technology sector, which saw heightened demand for positions such as ICT managers and networks and systems administrators. Clark highlighted that, despite the overall monthly dip, there has been a notable surge in demand within the government and defense sectors, which has jumped by 51% year-on-year. He expressed optimism about seeing a growing number of industries returning to annual growth, particularly within the professional and consumer services sectors.
Economic Context and Future Outlook
The recent trends in job advertising are reflective of broader economic conditions in New Zealand. Various economic datasets suggest that the country is experiencing a slowdown in its recovery phase. Despite the challenges, Clark’s comments about pockets of growth provide a glimmer of hope that certain sectors and regions may still be poised for expansion.
As New Zealand navigates this complex economic landscape, the performance of job ads in the coming months will be closely monitored by analysts and job seekers alike. The resilience shown by certain industries indicates that while challenges exist, opportunities for growth remain, potentially paving the way for a more robust employment market in the future.
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