PM Edition: Top 10 Business Articles on LiveNews.co.nz for March 25, 2026 – Full Text

MIL OSI

LiveNews: https://livenews.co.nz/2026/03/25/banking-banking-ombudsman-urges-extreme-caution-over-use-of-crypto-atms/

Source: Radio New Zealand

Allegations of bullying against one of the most senior staff at Corrections were raised more than a month ago.

RNZ earlier revealed Corrections commissioner of custodial services Leigh Marsh was facing an employment investigation in relation to allegations of bullying.

On Wednesday, Corrections chief executive Jeremy Lightfoot confirmed the concerns were raised on February 15.

“No other formal concerns have been raised about this individual, and they have not previously been subject to an employment investigation.”

Do you know more? Email sam.sherwood@rnz.co.nz

After receiving the concerns, advice was sought from the human resources team and support was put in place for the staff member who raised the concerns, Lightfoot said.

“The decision was then taken to undertake a formal employment investigation.”

Lightfoot said it was important staff felt confident raising any concerns.

“And as an employer I have a duty of care to ensure the ongoing privacy and wellbeing of those involved.

“For these reasons, it would not be appropriate for us to provide further details about this employment matter at this time. I acknowledge the public interest in the conduct of our senior leaders and Corrections is committed to being transparent about the findings of this investigation at the appropriate time and in line with our obligations under the Official Information Act and Privacy Act.”

In response to questions about the inquiry into Marsh earlier this week Lightfoot told RNZ he expected “high standards of all our staff and take any allegations raised about their conduct extremely seriously”.

“Corrections can confirm that concerns have been raised about one senior leader that will be investigated by an external independent investigator.

“The concerns raised relate to alleged conduct around management processes and bullying within the employment relationship.”

The staff member who raised the concerns with Lightfoot was “being supported while this employment matter is ongoing”.

He also confirmed three operational deputy chief executives, including Marsh, would be undertaking six-month secondments into different DCE roles within Corrections.

“I had already been considering moving the operational DCEs into each other’s areas later this year. This is because I believe these secondments will allow each operational DCE to deepen their understanding of each other’s respective areas so we can continue building a coherent, cohesive organisation. Their employment agreements were developed to allow such secondments to take place.

“The decision to do this now was brought forward to ensure that a thorough and fair employment process for both parties in relation to the above complaint can be carried out.”

The secondment sees Marsh move to DCE of Pae Ora.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

LiveNews: https://livenews.co.nz/2026/03/25/bullying-allegations-against-senior-corrections-staffer-raised-more-than-a-month-ago/

Source: Radio New Zealand

New Zealand is an expensive country, Reserve Bank chief economist Paul Conway says, with many products priced well above the OECD average.

And some things – such as construction services, household utilities and some food items – are among the most expensive in the OECD.

Conway spoke to the National Financial Advisers Conference in Auckland on Wednesday.

He said inflation had been one of the most obvious economic disruptions over the past few years, particularly over the pandemic, when demand combined with a lack of supply sent inflation soaring at the sharpest rate in decades.

He said people were still asking why everything felt so expensive, even though inflation was much nearer the Reserve Bank’s targets than it had been.

Conway said, since the start of the pandemic, overall prices had risen by 26 percent and the price of some essentials had increased much more.

Wages rose 32 percent but that increase was probably not evenly felt – people who moved jobs were more likely to have received larger wage increases.

Conway said that for the past five years, one or more of a range of everyday household essentials that were hard to avoid had been increasing strongly in price at almost every point. “That included prices for council rates, construction services, some foods – including meat and butter, and insurance.

“Because households cannot easily avoid some of these costs, this has no doubt added to the sense of a ‘cost-of-living crisis’.”

Rates, insurance and gas had jumped particularly in recent years.

Tobacco products were among the most expensive in the OECD and milk, cheese, eggs and fruit prices were well above the average. Seafood, clothing, and meat were slightly below average.

“For services, the price of construction in New Zealand is the highest in the OECD and more than double the average. This is undoubtedly a handbrake on housing and infrastructure development here. In fact, the price of ‘capital formation’ – which covers machinery, equipment and construction – is 70 percent above average in New Zealand and also the highest in the OECD. The price of housing services and utilities in New Zealand is also assessed as being the most expensive in the OECD.”

He said low and stable inflation mattered for the cost of living but it was not the whole story.

Monetary policy – such as the official cash rate set by the Reserve Bank – could help to anchor prices but not make New Zealand affordable on its own. He acknowledged that inflation ended 2025 just above the Reserve Bank’s 1 percent to 3 percent target band and was likely to be more elevated because of the Middle East conflict.

He said what mattered for households was their purchasing power.

Before 2020, the purchasing power of wages in New Zealand was growing faster than the OECD average on the back of strong employment growth and favourable terms of trade.

“Today, while wage purchasing power is around average across all 38 OECD members countries, it is about 20 percent below the average of the more advanced OECD economies that we typically compare ourselves to.”

Productivity the key

For there to be continued sustained improvements in purchasing power, there would have to be more productivity, he said.

Real per capita income in New Zealand was below the OECD average, he noted. It had been about 80 percent of the average until the mid-2000s then increased to more than 95 percent by 2020.

“Since 2020, real income in New Zealand has fallen back to around 90 percent of the OECD average and the income gap vis-à-vis Australia has widened. Purchasing power, as measured by real income, has not kept pace with the rest of the OECD nor Australia since the beginning of the pandemic.”

Wages had declined less compared to the OECD average and were at best average, he said.

“Importantly, this is compared to all 38 current OECD member countries, which includes several emerging economies. Compared to the 30 OECD member countries in 2010, average incomes in New Zealand sit around 20 percent below the average.”

He said productivity growth would be the single most powerful determinant of higher real incomes and better purchasing power over the long run.

“New Zealand’s productivity performance leaves much to be desired and has lagged other OECD economies. Further, productivity growth in the New Zealand economy fell significantly following the global financial crisis and has been negative in the wake of the pandemic.

“While low and stable inflation is a key ingredient in lifting productivity and improving purchasing power, it is insufficient on its own. By anchoring prices, monetary policy creates the conditions for growth. But sustained gains in purchasing power require structural improvements in the economy.”

Measures to improve resilience

He said a more fragmented and unpredictable global economy would raise the stakes for ensuring New Zealand’s structural policies were resilient, adaptive and fit for purpose.

“We are in a new era of heightened geopolitical risk and persistent uncertainty, with the conflict in the Middle East a timely reminder of how quickly geopolitics can disrupt the global economy. At the same time, cross-country flows of trade, capital, and people are shifting, governments are becoming more interventionist, and the rules-based order that once underpinned global integration has weakened considerably.

“This is not a temporary shock that we can simply wait out. It’s a durable shift that makes the global economy more difficult and dangerous for small economies like New Zealand. We are more exposed to external shocks, fragile global supply chains, and shifts in global rules and norms over which we have little control.”

He said sustaining living standards would depend on structural policy settings that built resilience into the structure of the economy by encouraging flexibility, investment and adaption.

“A more resilient and flexible economy would mean monetary policy does not have to work as hard, or be as aggressive, to stabilise inflation as shocks wash through the economy.

“While monetary policy plays a critical role in responding to shocks, it cannot solve New Zealand’s ‘cost-of-living crisis’. Low and stable inflation underpins economic stability and is critical for sustained gains in purchasing power. But monetary policy does not create prosperity directly. It creates the conditions in which prosperity can endure.

“Improving the purchasing power of New Zealand households requires improved productivity. Productivity gains support stronger real wage growth, while competitive markets help keep price increases in check… stronger productivity raises the economy’s speed limit – allowing faster growth without inflation. A more resilient and flexible economy also means monetary policy doesn’t need to be as aggressive to keep inflation stable when shocks hit.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

LiveNews: https://nz.mil-osi.com/2026/03/25/new-zealand-is-expensive-reserve-bank-economist-says-heres-what-we-can-do-about-it/

Source: The Conversation (Au and NZ) – By Chris Wilkins, Professor of Policy and Health, Te Kunenga ki Pūrehuroa – Massey University

Methamphetamine has become dramatically cheaper over the past seven years, even as authorities report record seizures, according to the latest New Zealand Drug Trends Survey.

The annual online survey of over 8,800 people who use drugs shows wholesale prices of the illegal and harmful substance (per gram sold to dealers) have fallen by 41%, while street-level “point” prices (0.1 gram retail deals) have dropped by 27%.

Once adjusted for inflation, the declines are closer to 50%. A gram of meth that cost an average of $563 in 2017 now sells for about $253 in inflation-adjusted terms in 2025.

This trend is striking because retail prices of illegal drugs often remain unchanged for years. For example, a cannabis “tinny” (about 1–1.5 grams) has typically cost $20–25 in New Zealand for more than two decades, reflecting the need for quick and simple transactions.

The sustained price falls therefore point to deeper changes in how the methamphetamine market is operating. Australia has recently observed a similar pattern.

Importantly, the shift can’t be attributed to any changes in drug purity. Recent testing suggests average purity levels often exceed 70%, approaching the theoretical maximum of about 80% for the hydrochloride salt form.

In other words, methamphetamine is not only cheaper, but often highly potent.

Already, the drug is estimated to cause hundreds of millions of dollars in harm to New Zealand communities, through impacts to hospital emergency departments, mental health and drug treatment systems and social services – and to users themselves in terms of lives derailed and family relationships fractured.

All of this raises critical questions: what is driving these price drops, how long will they continue and what might they ultimately mean for meth’s social toll?

Competition, enforcement or demand?

We can point to several factors that might be contributing to the falling prices.

Illegal drug markets are often assumed to be controlled by organised crime groups who are able to keep prices high. But the widespread price declines across New Zealand – including in regions with the strongest gang presence – suggest the market remains competitive.

Could the price drops reflect sellers feeling they face less risk of arrest? Given New Zealand Police and Customs have been reporting record seizures every year since 2019, that doesn’t seem plausible.

In 2019, the law was changed to direct police not to arrest people found with small amounts of drugs unless it was in the public interest. While this may have reduced enforcement risk for users, it was not intended to change the situation for dealers selling grams.

If anything, the policy partly aimed to free up resources to focus on suppliers.

We might also assume that meth has simply become cheaper to make. With multiple ways to synthesise methamphetamine using different precursor chemicals, manufacturers may have found lower-cost methods over time.

But production costs can make up only a fraction of the final street price, with large mark-ups added along the distribution chain. That means even big savings in production may have little effect on retail prices.

Might the trend signal fewer buyers? Methamphetamine might well be reaching the end of its “product cycle” as cocaine gains popularity. Yet wastewater data show meth consumption doubled in late 2024 – hardly an indication of falling demand.

Are cartels the culprit?

The most convincing explanation lies away from New Zealand’s shores, in new global sources of methamphetamine supply.

New Zealand and Australia have traditionally sourced methamphetamine from lawless regions of Asia known as the Golden Triangle. More recently, however, growing seizures have been linked to Mexican drug cartels, often transiting through Canada.

Australian authorities say these cartels can supply methamphetamine at less than one-third the price of Asian producers and that about 70% of seized meth now originates from North America.

It may also explain the rising supply of cocaine in New Zealand, with Mexican cartels deeply involved in global cocaine trafficking. Methamphetamine trafficked from Mexico is also often routed through Pacific Island countries such as Fiji, Tonga and Samoa, which have strong trade, transport and cultural links with New Zealand.

On top of this, digital drug markets – including darknets and social media sales – may be lowering the cost of finding alternative sellers and better deals, increasing competition and pushing prices down.

This may also explain why methamphetamine is not the only drug to experience price declines in recent years.

We have also tracked substantial falls in the price of MDMA (ecstasy), a drug increasingly purchased via social media. Digital drug markets may also reduce the need for multiple layers of local distribution, lowering costs.

While we believe Mexican cartel supply is the most likely driver of methamphetamine price declines, the other explanations cannot be ruled out.

More research is needed to better understand the supply-and-demand implications and effects of changes in enforcement intensity, risk of violence and victimisation, production costs, price formation and modern digital drug markets.

Untangling these forces will be the focus of our future work, helping policymakers to respond more effectively to what remains one of New Zealand’s most damaging illegal drug.

– ref. The price of meth has been plunging in NZ. Are Mexican cartels driving the drop? – https://theconversation.com/the-price-of-meth-has-been-plunging-in-nz-are-mexican-cartels-driving-the-drop-277490

Evening Report: https://eveningreport.nz/2026/03/25/the-price-of-meth-has-been-plunging-in-nz-are-mexican-cartels-driving-the-drop-277490/

Source: Media Outreach

ManpowerGroup Greater China and Beacon Group Partner with FGA Trust and Payment Asia to Launch “Talent in HK” Program

– Published and distributed with permission of Media-Outreach.com.

LiveNews: https://livenews.co.nz/2026/03/25/comprehensive-support-for-international-students-to-bolster-hong-kongs-talent-attraction-and-retention/

Source: Radio New Zealand

A woman who withdrew $31,500 from her bank account and gave it to a scammer is one of two recent cases that have sparked a warning from the Banking Ombudsman about cryptocurrency ATMs.

Banking Ombudsman Nicola Sladden said she had investigated several scam cases where people had deposited money through the ATMs.

Crypto ATMs allow people to deposit cash and buy cryptocurrency, which is sent to a digital wallet. Transactions usually happen quickly and cannot easily be stopped or reversed once completed.

Sladden said it made them risky when used under pressure or at someone else’s direction.

She highlighted two cases, in which she said people believed they were following legitimate instructions but lost large amounts of money.

In April last year, a woman responded to a job ad online and, following instructions, went to her bank and withdrew $31,500, telling the teller it was for a car.

She put the money into a cryptocurrency wallet via a crypto ATM but later realised she had been scammed and asked the bank to reimburse her. She said it should have noticed her anxious and unusual behaviour.

The ombudsman scheme said it had to decide whether there was anything that should have caused the bank to suspect a scam.

“A bank must follow a customer’s transaction instructions unless it detects – or should have detected – warning signs of a possible scam. If it detects such warning signs, it must make inquiries about the transaction and, if warranted, warn the customer about the possibility of a scam before processing the transaction.”

It said there was nothing about what the customer told the bank that should have indicated a problem.

In another case, a man lost $65,000. He authorised payments to cryptocurrency merchants and withdrew cash from ATMs that he deposited in a crypto ATM.

The bank refused to reimburse him, saying he had authorised the payments.

Sladden said obvious red flags included requests to keep payments secret or give false information to a bank.

“People should independently verify who they are dealing with, and talk to someone they trust before making large or unusual payments.

“It’s important to stop and ask questions before taking any steps that might result in the loss of money.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

LiveNews: https://nz.mil-osi.com/2026/03/25/tens-of-thousands-lost-to-crypto-atm-scams-ombudsman-says/

LiveNews: https://enz.mil-osi.com/2026/03/25/investments-upcoming-minimum-wage-and-kiwisaver-changes-effective-1-april-2026/

Source: Radio New Zealand

Emergency services are at the scene of a crash in Mākara, a rural Wellington suburb near Karori.

The police say they were called just after 8am on Wednesday.

They can’t yet say how many vehicles were involved or if people are injured.

Wellington Free Ambulance says it’s responded, but it’s referred inquiries to police due to the nature of the incident.

Makara Village cattery owner Cody Stephens says he saw police cars and a fire engine fly past his property this morning, heading towards the beach.

More to come…

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

LiveNews: https://nz.mil-osi.com/2026/03/25/emergency-services-at-scene-of-crash-in-wellington/

MIL OSI

LiveNews: https://livenews.co.nz/2026/03/25/economy-1970s-style-stagflation-could-hit-global-economy-devere-ceo/

Source: Radio New Zealand

Employment confidence has risen to a two-year high as people’s perceptions about job availability improved.

The Westpac-McDermott Miller Employment Confidence Index rose 1.8 points to 95.6 in the March quarter. However, a reading below 100 means pessimists still outweigh optimists.

Westpac senior economist Michael Gordon said perceptions about job availability – a measure closely related to the unemployment rate – continued to improve this quarter.

“The survey results, taken on their own, would be consistent with the unemployment rate having reached its peak, and perhaps even begun falling, in the early part of this year,” Gordon said.

He said recent evidence also pointed to a pick-up in businesses’ hiring intentions as the economy started to get back on its feet.

However, the survey found households were still cautious about current and future pay rises, and about job security over the year ahead.

Confidence was highest among private-sector employees, rising 7.5 points to 103.5, according to Imogen Rendall, Market Research Director at McDermott Miller.

“In contrast, public sector employees’ confidence dipped slightly by 1.2 points to 95.6,” Rendall said.

Regional confidence was led by Gisborne/Hawke’s Bay, Canterbury and Southland.

Confidence in Auckland and Wellington remained subdued, although the capital posted a sharp rise from 80.5 to 90.8.

Gordon cautioned that the survey period – 1 to 12 March – was during the early days of the Iran conflict, when households and employers may not yet have been aware of its full economic consequences.

“As such, it’s unclear whether this confidence will be maintained in the months ahead, in what is an uncertain and rapidly evolving situation,” he said.

The survey was carried out in early March with a sample size of 1550, and had a margin of error of 2.5 percent.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

LiveNews: https://nz.mil-osi.com/2026/03/25/employee-confidence-rises-but-pessimists-still-outweigh-optimists-index-shows/