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Innovation Beverage Group Enters into Definitive Merger Agreement with BlockFuel Energy, Inc.

Source: GlobeNewswire (MIL-NZ-AU)

Transaction expected to close in fourth quarter with combined company to begin trading on the Nasdaq under the ticker “FUEL”

Vertically Integrated business model combines state-of-the-art power generation with oil & gas production to power Bitcoin mining operations

Post-Transaction combined entity expected to have an equity valuation range between US$220M-$343M

SYDNEY, Oct. 15, 2025 (GLOBE NEWSWIRE) — Innovation Beverage Group Ltd (“IBG” or the “Company”) (Nasdaq: IBG), an innovative developer, manufacturer, and marketer of a growing beverage portfolio of 60 formulations across 13 alcoholic and non-alcoholic brands, today announced that it has entered into a definitive agreement for a reverse triangular merger transaction with BlockFuel Energy Inc., a Texas corporation (“BlockFuel” or “BFE”) engaged in oil and gas exploration and state-of-the-art power generation to support Bitcoin mining operations and high-performance data centers across North America. IBG and BFE expect to close the transaction in the fourth quarter of 2025, subject to customary closing conditions and will trade on the Nasdaq under the ticker symbol “FUEL”.

Under the terms of the definitive agreement, IBG will merge with BlockFuel through a reverse triangular merger, with a newly formed subsidiary of IBG formed for the transaction merging with and into BFE, with BFE as the surviving entity and becoming a wholly owned subsidiary. When the transaction closes, the owners of BFE are expected to own ordinary shares in IBG representing 90% of the total number of issued and outstanding ordinary shares of IBG on a post-transaction basis, subject to certain equitable adjustments for interim financings. As previously announced, Marshall & Stevens Transaction Advisory Services conducted an independent fairness analysis which concluded that the post-transaction combined company resulting from the merger of IBG and BFE is expected to have an equity valuation range between US$220 million to US$343 million. Shareholders of IBG will own 10% of the combined entity upon closing, equaling an implied post-transaction equity value for IBG in the range of US$22 million to US$34.3 million, compared to a pre-transaction valuation of US$2.9 million to US$6.3 million.

Upon closing of the agreed transaction, Daniel Lanskey, currently President and CEO of BlockFuel and a Director of IBG, will be appointed Chairman of the Board and Chief Executive Officer of the new combined entity. Sahil Beri, currently Chairman of the Board and Chief Executive Officer of IBG, will resign from both positions and will be appointed as President of a newly formed beverage subsidiary.

Sahil Beri, Chief Executive Officer of IBG commented, “The agreement for our reverse merger transaction with BlockFuel Energy marks a pivotal milestone in the IBG story as we work to maximize shareholder value. BlockFuel is uniquely positioned at the forefront of energy innovation and digital asset mining, and we are pleased to provide a public vehicle for BFE to introduce itself to the capital markets. We are separately optimistic about what the future holds for the IBG business as a subsidiary of BlockFuel as we continue to build and grow our award-winning alcoholic and non-alcoholic beverage portfolio.”

Daniel Lanskey, Executive Chairman of BlockFuel added, “With today’s announcement finalizing BlockFuel’s entry into the U.S. capital markets via our reverse merger with IBG, we are well placed to capitalize on significant opportunities across the digital asset, energy capture and oil & gas sectors. Integrating IBG’s public market presence with our advanced energy harnessing and Bitcoin mining technologies creates a powerful foundation for long-term value creation. This transaction strengthens our ability to scale, expand market reach, and build a sustainable growth trajectory at the intersection of cleaner energy and blockchain infrastructure.”

If you have a question or would like to schedule a meeting with IBG or BFE management, please contact BFE@KCSA.com.

About Innovation Beverage Group
Innovation Beverage Group is a developer, manufacturer, marketer, exporter, and retailer of a growing beverage portfolio of 60 formulations across 13 alcoholic and non-alcoholic brands for which it owns exclusive manufacturing rights. Focused on premium and super premium brands and market categories where it can disrupt age old brands, IBG’s brands include Australian Bitters, BITTERTALES, Drummerboy Spirits, Twisted Shaker, and more. IBG’s most successful brand to date is Australian Bitters, which is a well-established and favored bitters brand in Australia. Established in 2018, IBG’s headquarters, manufacturing and flavor innovation center are located in Sydney, Australia with a U.S. sales office located in California. For more information visit: https://www.innovationbev.com/

About BlockFuel Energy
BlockFuel Energy is involved in the acquisition, exploration and development of proven oil fields onshore in North America. By turning natural gas at the source, including stranded and flared gas, into a potent resource for the digital era, BlockFuel Energy intends to redefine the energy industry. BlockFuel Energy combines state-of-the-art power generation with oil and gas exploration to power bitcoin mining operations and high-performance data centers. Our vertically integrated concept allows us to use co-location and modular power generation techniques to optimize efficiency and investment returns. Our cutting-edge solutions for energy optimization and extraction will enable us to transform underdeveloped resources into high-margin, scalable, and sustainable revenue streams. For more information visit: https://blockfuelenergy.com/

Forward Looking Statement
This press release contains “forward-looking statements” and “forward-looking information.” These statements include, but are not limited to, statements about the final terms of the potential merger transaction, the structure of such transaction, benefits of the contemplated transaction between IBG and BlockFuel Energy, expected closing conditions and the parties’ ability to complete the transaction, should definitive documentation be reached as well as other statements that are not historical facts. This information and these statements, which can be identified by the fact that they do not relate strictly to historical or current facts, are made as of the date of this press release or as of the date of the effective date of information described in this press release, as applicable.

The forward-looking statements herein relate to predictions, expectations, beliefs, plans, projections, objectives, assumptions, or future events or performance (often, but not always, using words or phrases such as “expects,” “anticipates,” “plans,” “projects,” “estimates,” “envisages,” “assumes,” “intends,” “strategy,” “goals,” “objectives” or variations thereof or stating that certain action events or results “may,” “can,” “could,” “would,” “might,” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) and include, without limitation, statements with respect to projected financial targets that the Company is looking to achieve.

All forward-looking statements are based on current beliefs as well as various assumptions made by and information currently available to the Company’s management team. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections, and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Such factors include, among others, (1) delays in finalizing definitive documentation for the contemplated transaction, (2) the risk that definitive documentation will reflect different terms than the non-binding terms described herein, (3) the risk of delays in consummating the contemplated transaction, including as a result of required regulatory and stockholder approvals, which may not be obtained on the expected timeline, or at all, (4) the risk of any event, change or other circumstance that could cause the parties to terminate the transaction prior to closing , (5) disruption to the parties’ businesses as a result of the announcement and pendency of the transaction, including potential distraction of management from current plans and operations of IBG or BlockFuel Energy and the ability of IBG and BlockFuel Energy to retain and hire key personnel, (6) reputational risk and the reaction of each company’s customers, suppliers, employees or other business partners to the transaction, (7) the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events, (8) the outcome of any legal or regulatory proceedings that may be instituted against IBG or BlockFuel Energy related to the transaction or merger agreement, should definitive documentation be executed, (9) the risks associated with third party contracts containing consent and/or other provisions that may be triggered by the contemplated transaction, (10) legislative, regulatory, political, market, economic and other conditions, developments and uncertainties affecting IBG’s or BlockFuel Energy’s businesses; (11) the evolving legal, regulatory and tax regimes under which IBG or BlockFuel Energy operate; (12) any restrictions during the pendency of the contemplated transaction that may impact the parties’ ability to pursue certain business opportunities or strategic transactions; and (13) unpredictability and severity of catastrophic events, including, but not limited to, extreme weather, natural disasters, acts of terrorism or outbreak of war or hostilities. We caution any person reviewing this press release not to place undue reliance on these forward-looking statements as several important factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions, and intentions expressed in such forward-looking statements. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur.

The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Company or on behalf of the Company except as may be required by law.

Contact:
Innovation Beverage Group Limited
Sahil Beri
CEO
sahil@innovationbev.com
www.innovationbev.com

BlockFuelEnergy Inc.
Daniel Lanskey
President and CEO
dan.lanskey@blockfuelenergy.com
www.blockfuelenergy.com

Investor Relations:
KCSA Strategic Communications
Phil Carlson, Managing Director
BFE@KCSA.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d6543343-3458-4a0b-84b2-aa163fe3f272

– Published by The MIL Network

LiveNews: https://feedcreatorngin2.fifthestate.nz/2026/03/14/innovation-beverage-group-enters-into-definitive-merger-agreement-with-blockfuel-energy-inc-2/

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IREN Reports Q1 FY26 Results

Source: GlobeNewswire (MIL-NZ-AU)

Secured $9.7bn AI Cloud Contract with Microsoft 

Targeting $3.4bn AI Cloud ARR by End of 2026, Expansion to 140k GPUs 1

NEW YORK, Nov. 06, 2025 (GLOBE NEWSWIRE) — IREN Limited (NASDAQ: IREN) (“IREN” or “the Company”) today reported its financial results for the three months ended September 30, 2025.

Highlights

  • Targeting $3.4bn in AI Cloud annualized run-rate revenue (ARR) by the end of 2026 (expansion to 140k GPUs)1
  • Secured $9.7bn contract with Microsoft:
    • Phased deployments at Childress through 2026
    • 5-year average term
    • 20% customer prepayment
    • $1.9bn expected ARR contribution2
  • New multi-year contracts including Together AI, Fluidstack and Fireworks AI, supporting growth to target AI Cloud ARR of >$500m by end of Q1 20263

Q1 FY26 Financial Results

  • Total revenue increased to record $240.3m (+355% vs. Q1 FY25 $52.8m)
  • Net income increased to record $384.6m* (vs. Q1 FY25 net loss $(51.7)m)
  • Adj. EBITDA increased to $91.7m (+3,568% vs. Q1 FY25 $2.5m)4
  • EBITDA increased to record $662.7m* (vs. Q1 FY25 $(18.8)m)4

* Includes unrealized gains, primarily on prepaid forwards and capped calls in connection with convertible notes

Project Update

British Columbia (160MW)

  • Transition of data centers from ASICs to GPUs ongoing, targeting completion by end of 2026

Childress (750MW)

  • Accelerating construction of Horizon 1-4 (200MW critical IT load) liquid-cooled data centers for Microsoft
  • Significant enhancements to original Horizon design, including Tier 3-equivalent concurrent maintainability, 100MW superclusters for high-performance training, and flexible rack densities (130-200kW)
  • Design work advancing for potential conversion of entire campus to liquid-cooled AI deployments

Sweetwater Hub (2GW)

  • Sweetwater 1 (1,400MW) substation energization targeting April 2026
  • Sweetwater 2 (600MW) substation energization targeting late 2027

Financing

IREN continues to strengthen its capital structure and fund growth through diversified sources:

  • Cash and cash equivalents were $1.8bn as of October 31, 20255
    • $1.0bn zero-coupon convertible notes issued on October 14, 2025
    • $200m incremental GPU financing secured, bringing total to $400m
  • Near-term capex expected to be funded through combination of existing cash, operating cashflows, Microsoft prepayments and additional financing initiatives

Management Commentary

“IREN continues to execute with discipline, delivering record results this quarter and meaningful progress in our AI Cloud expansion,” said Daniel Roberts, Co-Founder and Co-CEO of IREN.

“We secured several new multi-year contracts, including a landmark partnership with Microsoft, which solidifies IREN’s position as a leading AI Cloud Service Provider and expands our reach into new hyperscale customer segments.

Looking ahead, our announced expansion to 140k GPUs represents only 16% of our 3GW grid-connected power portfolio, providing ample capacity to continue scaling IREN’s AI Cloud platform and drive long-term value creation.”

Q1 FY26 Results Webcast & Conference Call

IREN will host its Q1 FY26 results webcast and conference call at the following time:

Time & Date: 5:00 p.m. Eastern Time, Thursday, November 6, 2025
  Participant Registration Link
  Live Webcast Use this link
  Phone Dial-In with Live Q&A Use this link
     

The webcast will be recorded, and the replay will be accessible shortly after the event at https://iren.com/investor/events-and-presentations

About IREN

IREN is a leading AI Cloud Service Provider, delivering large-scale GPU clusters for AI training and inference. IREN’s vertically integrated platform is underpinned by its expansive portfolio of grid-connected land and data centers in renewable-rich regions across the U.S. and Canada.

Contacts

Investors
Mike Power
mike.power@iren.com

Media
Matt Epting
matt.epting@iren.com 

To keep updated on IREN’s news releases and SEC filings, please subscribe to email alerts at https://iren.com/investor/ir-resources/email-alerts.

Assumptions and Notes

  1. Represents expected $1.94bn average annual revenue under Microsoft contract plus estimated $1.5bn ARR from ~63k GPU deployment at British Columbia sites, based on internal company assumptions regarding GPU models, utilization and pricing. It is not fully contracted, there can be no assurance that it will be achieved, and actual revenue may differ materially. Assumes on time delivery and commissioning of GPUs.
  2. ARR represents expected average annual revenue under the contract, assuming on-time delivery and commissioning of GPUs.
  3. Represents potential ARR from ~23k GPU deployment at British Columbia sites, based on internal company assumptions regarding GPU models, utilization and pricing. It is not fully contracted, there can be no assurance that it will be achieved, and actual revenue may differ materially. Assumes on time delivery and commissioning of GPUs.
  4. EBITDA and Adjusted EBITDA are non-GAAP financial measures. Refer to page 10 for a reconciliation to the nearest comparable GAAP financial measure.
  5. Reflects USD equivalent, unaudited preliminary cash and cash equivalents as of October 31, 2025.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (“Exchange Act”), that involve substantial risks and uncertainties. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies and trends we expect to affect our business. These statements often include words such as “anticipate,” “expect,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “target,” “project,” “should,” “potential,” “could,” “would,” “may,” “will,” “forecast,” and other similar expressions. Forward-looking statements may also be made, verbally or in writing, by members of our Board or management team. Such statements are subject to the same limitations, uncertainties, assumptions and disclaimers set out in this press release.

We base these forward-looking statements or projections on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances and at such time. The forward-looking statements are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements. Although we believe that these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our actual financial results or results of operations, and could cause actual results to differ materially from those expressed in the forward-looking statements. Factors that may materially affect such forward-looking statements include, but are not limited to: Bitcoin price and foreign currency exchange rate fluctuations; our ability to obtain additional capital on commercially reasonable terms and in a timely manner to meet our capital needs and facilitate our expansion plans; the terms of any future financing or any refinancing, restructuring or modification to the terms of any future financing, which could require us to comply with onerous covenants or restrictions, and our ability to service our debt obligations, any of which could restrict our business operations and adversely impact our financial condition, cash flows and results of operations; our ability to successfully execute on our growth strategies and operating plans, including our ability to continue to develop our existing data center sites, design and deploy direct-to-chip liquid cooling systems, and diversify and expand into the market for high-performance computing (“HPC”) solutions (including the market for AI Cloud Services and potential colocation services such as powered shell, build-to-suit and turnkey data centers (“Colocation Services”) (collectively “HPC and AI services”)); our limited experience with respect to new markets we have entered or may seek to enter, including the market for HPC and AI services); our ability to remain competitive in dynamic and rapidly evolving industries; expectations with respect to the ongoing profitability, viability, operability, security, popularity and public perceptions of the Bitcoin network; expectations with respect to the useful life and obsolescence of hardware (including hardware for Bitcoin mining and any current or future HPC and AI services we offer); delays, increases in costs or reductions in the supply of equipment used in our operations including as a result of tariffs and duties, and certain equipment being in high demand due to global supply chain constraints; expectations with respect to the profitability, viability, operability, security, popularity and public perceptions of any current and future HPC and AI services we offer; our ability to secure and retain customers on commercially reasonable terms or at all, particularly as it relates to our strategy to expand into markets for HPC and AI services; our ability to establish and maintain a customer base for our HPC and AI services business and customer concentration; our ability to manage counterparty risk (including credit risk) associated with any current or future customers, including customers of our HPC and AI services and other counterparties; the risk that any current or future customers, including customers of our HPC and AI services or other counterparties, may terminate, default on or underperform their contractual obligations; changing political and geopolitical conditions, including changing international trade policies and the implementation of wide-ranging, reciprocal and retaliatory tariffs, surtaxes and other similar import or export duties, or trade restrictions; Bitcoin global hashrate fluctuations; our ability to secure renewable energy, renewable energy certificates, power capacity, facilities and sites on commercially reasonable terms or at all; delays associated with, or failure to obtain or complete, permitting approvals, grid connections and other development activities customary for greenfield or brownfield infrastructure projects; our reliance on power and utilities providers, third party mining pools, exchanges, banks, insurance providers and our ability to maintain relationships with such parties; expectations regarding availability and pricing of electricity; our participation and ability to successfully participate in demand response products and services and other load management programs run, operated or offered by electricity network operators, regulators or electricity market operators; the availability, reliability and/or cost of electricity supply, hardware and electrical and data center infrastructure, including with respect to any electricity outages and any laws and regulations that may restrict the electricity supply available to us; any variance between the actual operating performance of our miner hardware achieved compared to the nameplate performance including hashrate; electricity market risks relating to changes in regulations and requirements of market operators and regulatory bodies, including with respect to grid stability, interconnection and curtailment obligations; our ability to curtail our electricity consumption and/or monetize electricity depending on market conditions, including changes in Bitcoin mining economics and prevailing electricity prices; actions undertaken by electricity network and market operators, regulators, governments or communities in the regions in which we operate; the availability, suitability, reliability and cost of internet connections at our facilities; our ability to secure additional hardware, including hardware for Bitcoin mining and any current or future HPC and AI services we offer, on commercially reasonable terms or at all, and any delays or reductions in the supply of such hardware or increases in the cost of procuring such hardware; our ability to operate in an evolving regulatory environment; our ability to successfully operate and maintain our property and infrastructure; reliability and performance of our infrastructure compared to expectations; malicious attacks on our property, infrastructure or IT systems; our ability to maintain in good standing the operating and other permits and licenses required for our operations and business; our ability to obtain, maintain, protect and enforce our intellectual property rights and confidential information; any intellectual property infringement and product liability claims; whether the secular trends we expect to drive growth in our business materialize to the degree we expect them to, or at all; any pending or future acquisitions, dispositions, joint ventures or other strategic transactions; the occurrence of any environmental, health and safety incidents at our sites, and any material costs relating to environmental, health and safety requirements or liabilities; damage to our property and infrastructure and the risk that any insurance we maintain may not fully cover all potential exposures; ongoing proceedings relating to the default under certain equipment financing facilities, ongoing securities litigation, and any future litigation, claims and/or regulatory investigations, and the costs, expenses, use of resources, diversion of management time and efforts, liability and damages that may result therefrom]; our failure to comply with any laws including the anti-corruption laws of the United States and various international jurisdictions; any failure of our compliance and risk management methods; any laws, regulations and ethical standards that may relate to our business, including those that relate to Bitcoin and the Bitcoin mining industry and those that relate to any other services we offer, including laws and regulations related to data privacy, cybersecurity and the storage, use or processing of information and consumer laws; our ability to attract, motivate and retain senior management and qualified employees; increased risks to our global operations including, but not limited to, political instability, acts of terrorism, theft and vandalism, cyberattacks and other cybersecurity incidents and unexpected regulatory and economic sanctions changes, among other things; climate change, severe weather conditions and natural and man-made disasters that may materially adversely affect our business, financial condition and results of operations; public health crises, including an outbreak of an infectious disease and any governmental or industry measures taken in response; damage to our brand and reputation; evolving stakeholder expectations and requirements relating to environmental, social or governance (“ESG”) issues or reporting, including actual or perceived failure to comply with such expectations and requirements; the market price of our ordinary shares (“Ordinary shares”) may be highly volatile; that we do not currently pay any cash dividends on our Ordinary shares, and may not in the foreseeable future and, accordingly, your ability to achieve a return on your investment in our Ordinary shares will depend on appreciation, if any, in the price of our Ordinary shares; and other important factors discussed under the caption “Risk Factors” in IREN’s annual report on Form 10-K filed with the SEC on August 28, 2024 as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investor Relations section of IREN’s website at https://investors.iren.com.

These and other important factors could cause actual results to differ materially by the forward-looking statements made in this press release. Any forward-looking statement that IREN makes in this press release speaks only as of the date of such statement. Except as required by law, IREN disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

Non-GAAP Financial Measures

This press release refers to certain measures that are not recognized under GAAP and do not have a standardized meaning prescribed by GAAP. IREN uses non-GAAP measures including “EBITDA” and “Adjusted EBITDA,” and “Adjusted EBITDA margin,” (each as defined below) as additional information to complement GAAP measures by providing further understanding of the Company’s operations from management’s perspective.

EBITDA is defined as net income (loss), excluding income tax (expense) benefit, finance expense, interest income and depreciation and amortization, which are important components of our net income (loss). Further, “Adjusted EBITDA” also excludes stock based compensation, foreign exchange gain (loss), impairment of assets, certain other non-recurring income, gain (loss) on disposal of property, plant and equipment, unrealized fair value gain (loss) on financial instruments, gain (loss) on partial extinguishment of financial liabilities, increase (decrease) in fair value of assets held for sale and certain other expense items. “Adjusted EBITDA margin” is defined as Adjusted EBITDA divided by revenue.

The reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are shown in the Appendix hereto.

 
Consolidated Balance Sheet
     
US$m1 As at 30 September 2025 As at 30 June 2025
Assets    
Cash and cash equivalents 1,032.3 564.5
Accounts receivable, net 24.1 1.6
Deposits and prepaid expenses 53.3 45.9
Derivative assets 2.9 5.8
Income taxes receivable – 2.6
Other receivables 11.4 20.8
Total current assets 1,123.9 641.2
Property, plant and equipment, net 2,115.4 1,930.6
Operating lease right-of-use asset, net 1.4 1.5
Deposits and prepaid expenses 30.5 32.9
Financial assets 681.4 211.6
Derivative assets 314.4 122.1
Other non-current assets 0.3 0.5
Total non-current assets 3,143.4 2,299.1
Total assets 4,267.4 2,940.3
Liabilities    
Accounts payable and accrued expenses 151.9 144.1
Operating lease liability, current portion 0.4 0.4
Income taxes payable 0.1 –
Deferred revenue 1.1 0.9
Other liabilities, current portion 50.2 3.9
Total current liabilities 203.7 149.3
Operating lease liability, less current portion 1.0 1.1
Convertible notes payable 964.2 962.8
Deferred revenue, less current portion 22.2 –
Deferred tax liabilities 195.4 8.0
Income taxes payable, less current portion 2.0 1.5
Other liabilities, less current portion 2.6 0.2
Total non-current liabilities 1,187.5 973.5
Total liabilities 1,391.2 1,122.8
Stockholders’ equity 2,876.2 1,817.5
Total stockholders’ equity 2,876.2 1,817.5
     
Total liabilities and stockholders’ equity 4,267.4 2,940.3
     

1) For further detail, see our unaudited condensed consolidated financial statements for the quarter ended September 30, 2025, included in our Form 10-Q filed with the SEC on November 6, 2025

 
Consolidated Statement of Operations
     
US$m Quarter ended Quarter ended
September 30, 20251 June 30, 2025
Revenue    
Bitcoin Mining Revenue 232.9 180.3
AI Cloud Services Revenue 7.3 7.0
Total Revenue 240.3 187.3
Cost of revenue (exclusive of depreciation and amortization)    
Bitcoin Mining (79.9) (52.4)
AI Cloud Services (0.7) (0.5)
Total cost of revenue (80.7) (52.9)
Operating (expenses) income    
Selling, general and administrative expenses (138.4) (53.3)
Depreciation and amortization (85.2) (63.8)
Impairment of assets (16.3) 2.4
Gain (loss) on disposal of property, plant and equipment (0.0) 2.3
Other operating expenses – (3.0)
Other operating income 3.8 1.6
Total operating (expenses) income (236.0) (113.8)
Operating (loss) income (76.4) 20.6
Other (expense) income:    
Finance expense (9.3) (5.2)
Interest income 7.1 1.7
Increase (decrease) in fair value of assets held for sale – (2.7)
Realized gain (loss) on financial assets (5.8) –
Unrealized gain (loss) on financial instruments 665.0 147.7
Gain on partial extinguishment of financial liabilities – 9.1
Foreign exchange gain (loss) (5.4) 2.4
Other non-operating income – 0.5
Total other (expense) income 651.7 153.5
Income (loss) before taxes 575.3 174.1
Income tax (expense) benefit (190.7) 2.8
Net income (loss) 384.6 176.9
     

1) For further detail, see our unaudited condensed consolidated financial statements for the quarter ended September 30, 2025, included in our Form 10-Q filed with the SEC on November 6, 2025

 
Consolidated Statement of Cashflows
     
 US$m Quarter ended Quarter ended
September 30, 2025 September 30, 2024
Operating activities    
Net income (loss) 384.6 (51.7)
Adjustments to reconcile net income (loss) to net cash from (used in) operating activities:    
Depreciation and amortization 85.2 33.9
Impairment of assets 16.3 6.9
Change in fair value of assets held for sale – 2.6
Realized (gain) loss on financial instruments 5.8 4.2
Unrealized (gain) loss on financial instruments (665.0) –
Other (income) expense – 1.7
(Gain) loss on disposal of property, plant and equipment 0.0 (0.8)
Foreign exchange loss (gain) 2.2 (1.2)
Stock-based compensation expense 72.4 8.2
Amortization of debt issuance costs 1.3 –
Changes in assets and liabilities:    
Accounts receivable and other receivables (13.1) (11.1)
Other asset 0.2 (0.2)
Financial asset, current – 6.5
Tax related receivables 2.6 –
Tax related liabilities 187.9 1.3
Accounts payable and accrued expenses 3.5 45.0
Other liabilities 48.7 2.4
Deferred revenue 22.5 (0.2)
Prepayments and deposits (12.6) (52.5)
Operating lease liabilities (0) 0.9
Net cash from (used in) operating activities 142.4 (3.9)
Investing activities    
Payments for property, plant and equipment net of hardware prepayments (180.3) (105.8)
Payments for computer hardware prepayments (100.3) (277.6)
Payments for other prepayments and other assets (0.3) (4.3)
Proceeds from disposal of property, plant and equipment – 0.5
Net cash from (used in) investing activities (280.9) (387.1)
Financing activities    
Payment of offering costs for the issuance of Ordinary shares- at-the-market offering (18.5) (0.1)
Proceeds from loan funded shares 0.6 0.8
Proceeds from exercise of options 6.6 –
Payment of borrowing transaction costs (0.9) –
Proceeds from the issuance of Ordinary shares – at-the-market offering 618.4 84.0
Net cash from (used in) financing activities 606.1 84.7
Net increase (decrease) in cash and cash equivalents 467.6 (306.4)
Cash and cash equivalents at the beginning of the financial year 564.5 404.6
Effects of exchange rate changes on cash and cash equivalents 0.1 0.4
Cash and cash equivalents at the end of the financial year 1,032.3 98.6

1) For further detail, see our unaudited condensed consolidated financial statements for the quarter ended September 30, 2025, included in our Form 10-Q filed with the SEC on November 6, 2025

 
Non-GAAP Metric Reconciliation
     
Adjusted EBITDA Reconciliation
(USD$m)		 Quarter ended
September 30, 2025		 Quarter ended
June 30, 2025
Net income (loss) 384.6 176.9
Net income (loss) Margin1 160% 94%
Income tax expense (benefit) 190.7 (2.8)
Income (loss) before tax 575.3 174.1
Finance expense 9.3 5.2
Interest income (7.1) (1.7)
Depreciation and amortization 85.2 63.8
EBITDA 662.7 241.4
     
Reconciliation to consolidated statement of operations    
Add/(deduct):    
Unrealized (gain) loss on financial instruments (665.0) (147.7)
Stock-based payment expense 72.4 18.7
Impairment of assets 16.3 (2.4)
(Gain) loss on disposal of property, plant and equipment 0.0 (2.3)
(Increase) decrease in fair value of assets held for sale – 2.7
Gain on partial extinguishment of financial liabilities – (9.1)
Foreign exchange (gain) loss 5.4 (2.4)
Other one-off expense items2 – 23.1
Adjusted EBITDA 91.7 121.9
Adjusted EBITDA Margin3 38% 65%
     

1) Net Income Margin is calculated as Net Income divided by Total Revenue
2) Other one-off expense items for FY25 includes a one-time liquidation payment incurred in August 2024 resulting from the transition to spot pricing at the Group’s site at Childress, the reversal of the unrealized loss recorded on fixed price contracted amounts outstanding at June 30, 2024, a litigation related settlement provision, loss on mining hardware in transit, transaction costs incurred in December 2024 and June 2025 on entering the Capped Call Transactions in conjunction with the issuance of the 2030 Convertible Notes and 2029 Convertible Notes, one-off professional fees incurred in relation to litigation matters and the securities class action
3) Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by Total Revenue

– Published by The MIL Network

LiveNews: https://feedcreatorngin2.fifthestate.nz/2026/03/14/iren-reports-q1-fy26-results-2/

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Interim Financial Results

Source: GlobeNewswire (MIL-NZ-AU)

PERTH, Australia, Nov. 12, 2025 (GLOBE NEWSWIRE) — Paladin Energy Ltd (ASX:PDN, TSX:PDN, OTCQX:PALAF) (“Paladin” or the “Company”) advises that it has released its unaudited interim financial statements and management discussion and analysis (MD&A) (Interim Financial Results) for Paladin Energy Ltd and its controlled entities for the three-month period ended 30 September 2025.

The unaudited interim financial statements and MD&A are available on Paladin’s website (https://www.paladinenergy.com.au/investors/asx-announcements/).

For further information contact:

About Paladin

Paladin Energy Ltd (ASX:PDN TSX: PDN OTCQX:PALAF) is a globally significant independent uranium producer with a 75% ownership of the world-class long life Langer Heinrich Mine located in Namibia. In late 2024 the Company acquired Fission Uranium Corp. in Canada, resulting in a dual-listing on the both the ASX and TSX. With the integration of Fission’s operations, the Company now owns and operates an extensive portfolio of uranium development and exploration assets across Canada, which include the Patterson Lake South (PLS) project in Saskatchewan and the Michelin project in Newfoundland and Labrador. Paladin also owns uranium exploration assets in Australia. Through its Langer Heinrich Mine, Paladin is delivering a reliable uranium supply to major nuclear utilities around the world, positioning itself as a meaningful contributor to baseload energy provision in multiple countries and contributing to global decarbonisation.

– Published by The MIL Network

LiveNews: https://feedcreatorngin2.fifthestate.nz/2026/03/14/interim-financial-results-2/

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September 2025 Quarter Results

Source: GlobeNewswire (MIL-NZ-AU)

PERTH, Australia, Oct. 13, 2025 (GLOBE NEWSWIRE) — Paladin Energy Ltd (ASX:PDN, TSX:PDN, OTCQX:PALAF) (“Paladin” or the “Company”) advises that it has released its quarterly activities report for the three month period ended 30 September 2025 (“September 2025 Quarter Results”).

The Company has also released an accompanying presentation on the September 2025 Quarter Results.

The quarterly activities report and presentation are available on Paladin’s website (https://www.paladinenergy.com.au/investors/asx-announcements/).

For further information contact:

About Paladin

Paladin Energy Ltd (ASX:PDN TSX: PDN OTCQX:PALAF) is a globally significant independent uranium producer with a 75% ownership of the world-class long life Langer Heinrich Mine located in Namibia. In late 2024 the Company acquired Fission Uranium Corp. in Canada, resulting in a dual-listing on the both the ASX and TSX. With the integration of Fission’s operations, the Company now owns and operates an extensive portfolio of uranium development and exploration assets across Canada, which include the Patterson Lake South (PLS) project in Saskatchewan and the Michelin project in Newfoundland and Labrador. Paladin also owns uranium exploration assets in Australia. Paladin is committed to an ESG framework that ensures responsible, accountable and transparent management of the uranium resources the Company mines – both now and in the future. Through its Langer Heinrich Mine, Paladin is delivering a reliable uranium supply to major nuclear utilities around the world, positioning itself as a meaningful contributor to baseload energy provision in multiple countries and contributing to global decarbonisation.

– Published by The MIL Network

LiveNews: https://feedcreatorngin2.fifthestate.nz/2026/03/14/september-2025-quarter-results-2/

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High-Tech Comfort Meets Street-Ready Style: SHEIN’s GLOWMODE Collection

Source: GlobeNewswire (MIL-NZ-AU)

GLOWMODE x Kaela Tavares: Glow in Every Mode

SYDNEY, Aug. 21, 2025 (GLOBE NEWSWIRE) — Global fashion powerhouse SHEIN is making waves with GLOWMODE, a fusion of high-performance fabrics and all-day style, and content creator Kaela Tavares leading the celebrations.

Powered by innovative fabrics, sleek silhouettes and the confidence of comfort, the GLOWMODE design is formed for those training hard, lounging smart, or navigating the hustle in between.

The signature fabrics are engineered using next-gen textile technology, offering wearers high-performance functionality with an elevated fashion edge. Each material is tailored to a specific lifestyle moment; from high-intensity cardio to studio sessions.

Next Generation Fabrics:

FeatherFit: A buttery-soft blend made from high-quality nylon 66 yarn, delivering unmatched breathability and softness sees GLOWMODE designed in three variations – Warm, Air & Sculpt – FeatherFit transitions seamlessly between daily wear and tough sweat sessions.

PowerSculpt: Featuring an air-layered design and ultra-fine nylon yarn, this fabric is built to support and sculpt. Its quick-dry and ventilation technology ensures a cool, confident workout every time.

Silky-Smooth Modal: Luxuriously soft with a fluid drape, this fabric is your go-to for studio-to-street styling. Crafted for calm, worn for everything.

Everyday Fleece: Plush on the inside, lightweight on the outside. This fleece offers gentle warmth without weighing you down, ideal for casual wear or cool-downs.

CloudKnit: High elasticity meets pillow-soft texture. CloudKnit is made for lounging, layering, or low-key movement with supreme comfort.

Momentech Seamless: Lightweight, sweat-wicking, and chafe-free – perfect for medium-impact workouts like rowing or cycling.

GLOWMODE is not just about innovation, but also providing stylish options. The range includes sculpting zip-up jackets, supportive leggings, sports shorts, wide-leg leisurewear, and everything in between. It’s activewear that works as hard as you do, with the comfort to match and the aesthetic to elevate.

Kaela Tavares Leads the GLOW:

Bringing the GLOWMODE spirit to life, Kaela Tavares showcases how performancewear can feel powerful, look luxe, and remain effortlessly wearable, all with her signature vibrant energy and fitness-forward style. The campaign was officially launched with Kaela at an intimate SHEIN event in Coogee Beach on 19 August.

What’s more, GLOWMODE is heading to Bondi Beach for a one-time only giveaway on August 25. Keep an eye on SHEIN’s socials for the giveaway details.

GLOWMODE is available to shop now, by simply searching “GLOWMODE” in the SHEIN search bar to find a seamless blend of innovation and practicality.

Media contact: SHEIN@glowbored.com, +61 2 9059 2502, +61 7 3556 7756

– Published by The MIL Network

LiveNews: https://feedcreatorngin2.fifthestate.nz/2026/03/14/high-tech-comfort-meets-street-ready-style-sheins-glowmode-collection-2/

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F1: Kiwi Liam Lawson among points in Chinese Grand Prix sprint

Source: Radio New Zealand

Liam Lawson has finished seventh in the Chinese Grand Prix sprint race at Shanghai. Photosport

Kiwi driver Liam Lawson has gained valuable Formula 1 points, finishing seventh in the sprint race, before Sunday’s Chinese Grand Prix at Shanghai.

Mercedes driver George Russell, who won at Melbourne last week, took out the sprint from Charles Leclerc and Lewis Hamilton.

Lawson started 13th on the grid, but gradually made ground during the 19-lap dash, moving into fifth with five laps to go, before losing a couple of places in the final two laps.

Driving on hard tyres, Lawson stayed out on the track, while others opted to pit.

His two points were his first this Formula 1 season, after finishing 13th at the Australian Grand Prix.

Lawson’s Racing Bulls team hailed his drive, but the Kiwi said the decision to use up a set of hard tyres in the sprint takes away an option for the Grand Prix.

“That is the problem,” he told Sky Sport. “We are one hard down and I think when we made the decision this morning we had to think about our speed.

“We tried to maximise today, take the advantage. Tomorrow will be hard for us to fight for the points.

“We need to find some speed, which we will try to do this afternoon [in qualifying], but yes, it potentially hurts us a little bit.”

The qualifying session starts at 8pm Saturday.

Russell held off the fast-starting Ferraris to stretch his championship lead to 11 points.

The Briton started on pole position at the Shanghai International Circuit and finished ahead of Ferrari duo Leclerc and Hamilton, after a late safety-car period.

Leclerc finished 0.674s behind Russell, after an earlier battle with Hamilton, as Ferrari had two cars in the top three of a Formula 1 race of any sort for the first time since 2024.

Hamilton and Russell battled for the lead early, with four changes in the opening five laps, before the Mercedes driver made a move that stuck and secured the eight points available for a sprint win.

Reigning champion Lando Norris finished fourth, with Mercedes’ Kimi Antonelli fifth, after serving a 10-second penalty for a clash with Red Bull’s Isack Hadjar on the opening lap.

Oscar Piastri finished sixth for McLaren, with Lawson seventh and Oliver Bearman taking the final point for Haas.

– Reuters/RNZ

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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/2026/03/14/f1-kiwi-liam-lawson-among-points-in-chinese-grand-prix-sprint/

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Winter Paralympics: Kiwi Corey Peters finishes fifth in last event at Milano Cortina

Source: Radio New Zealand

Corey Peters in action at the 2026 Winter Paralympics in Italy. © Photosport 2026 Jeff Crowe / Photosport

New Zealand’s Corey Peters has finished the Winter Paralympic with a fifth placing in the men’s giant slalom sitting, while compatriot Adam Hall has finished 22nd in the giant slalom standing.

Peters’ effort has left him without a medal at the Milano Cortina Games, but with three top-six finishes.

In conditions he described as challenging, after the slushy snow had salt added, Peters produced two clean runs, posting a combined time of 2m 18.12s in an event that saw only 19 of 37 athletes finish.

Peters, 42, had a tidy first run and held the early lead, after another good run in the second, but his time was overtaken by later skiers.

Italian world champion Rene de Silvestro won the event, with Dutchman Niels de Langen second and defending champion Jesper Pedersen of Norway third.

“I’m pretty happy, considering giant slalom isn’t my favoured event, but stoked to get down, and get another finish under my belt and another top five,” Peters said. “It was challenging conditions out there, so just to survive it was special.”

Peters, who won gold in the downhill sitting event at the 2022 Beijing Winter Paralympics, finished fifth in the downhill sitting and sixth in the Super-G sitting over the past week.

He has four Paralympics medals from past Games.

“For me to come away without a medal [here] is a little disappointing, but that’s sport.

“We can’t change the results now and it is going to take some slightly better skiing next time in order to get on the podium.”

Hall – like Peters, Wānaka-based – was competing in the giant slalom standing for the first time at a Winter Paralympics, since his debut at Torino 2006.

He had two clean runs in the event, which was a forerunner for his favoured slalom standing, scheduled overnight Sunday/Monday NZT.

“Doing this event was never about pushing for a podium, but to gain an insight and intel for what may lie ahead on Sunday in the slalom,” Hall said.

“Today was all about getting my head around the conditions and blowing away the cobwebs, before going all guns blazing in the slalom.”

Frenchman Arthur Bauchet was a dominant winner of Hall’s event.

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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/2026/03/14/winter-paralympics-kiwi-corey-peters-finishes-fifth-in-last-event-at-milano-cortina/

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New Zealander Nathan Teraki jailed in Australia over fatal crash while drugged avoids deportation

Source: Radio New Zealand

FIle photo. 123RF

A New Zealand-born man, serving time in an Australian prison for killing a person when he drove while drugged, has won a fight to remain in his adopted country.

Nathan Brian Teraki was jailed for seven years in September 2024 after pleading guilty in the Brisbane District Court to the dangerous operation of a vehicle causing death while affected by an intoxicating substance.

He was said to be fatigued and taking “poor man’s meth” tablets when he killed a mine worker in the head-on collision.

His dashcam recorded him veering into the opposite lane nine times as he drove for another hour and 27 minutes before colliding head-on with a Toyota Hilux driven by Northern Territory man Leslie Noel Huxham.

At the time, Teraki tested positive for amphetamine, methamphetamine and the active ingredient of cannabis.

He faced a looming deportation order, but has succeeded in having it overturned, after Australian immigration authorities agreed to cancel an application to revoke his visa.

Teraki claimed he had become so stressed about events in his life, and after the tragedy in October 2022, he began self-harming by “pulling out his teeth”.

Deportation loomed after fatal crash

The process to cancel Teraki’s special category (temporary) visa began soon after he was convicted and sentenced.

Despite his appeal, authorities decided last December to continue down the path of cancelling the visa, because the Minister for Immigration and Citizenship was not satisfied that Teraki passed the character test.

But in a decision released this month, the Administrative Review Tribunal of Australia found that, after weighing all the evidence, factors in favour of reversing the decision to cancel his visa outweighed the alternative.

The tribunal said that while Teraki’s criminal conduct was “very serious”, as highlighted by the fact he killed an innocent person, his conduct in Australia otherwise was not, in the nature of systemic criminal activities, over an extended period of time.

Instead, his conviction arose when driving to work in circumstances where he was affected by drugs and should not have been driving.

While there was evidence of different criminal conduct from 2001 until 2003, when Teraki was living in New Zealand, there was no suggestion, let alone evidence that such conduct had been repeated in Australia, senior tribunal member Mark Harrowell said.

His record in New Zealand included common assault, possession of cannabis and utensils, burglary and breach of a community work order.

Teraki claimed he could not recall the assault charge or what had occurred.

‘Nothing in NZ to return to’

The 44-year-old was born in New Zealand and arrived in Australia in September 2010 with his then-wife and two children.

Their third child was born after they arrived in Australia. The pair later separated.

Teraki had since faced a domestic violence order imposed by police in 2023, effective until August 2028, which contained a good behaviour condition.

Teraki, whose mother lived in New Zealand, said in his original revocation application he had not been back for eight years since there was nothing for him to return to.

“This is my first and only charge I have had and is really out of character for me,” he wrote.

Teraki wrote that he had been independent since an early age, and had lived with his grandmother during his teens.

He described his relationship with his mother as “good” and that they talked, and that she had offered him a place to stay with her.

However, he feared “returning to old habits” if sent back to New Zealand, and separation from his children, who were a “massive” part of his life.

He claimed to have been working too hard to hide his depression from his children since the death of his father in 2017, when he ought to have sought help instead.

A medical specialist’s report pre-sentencing described Teraki having a “major depressive disorder” which was both chronic and severe.

The court also noted his “chronic cannabis dependence”, alcohol abuse and “some symptomology consistent with post-traumatic stress disorder” and a previous history of methyl amphetamine use.

The PTSD was said to be partly related to Teraki’s early family history.

Working three jobs

Teraki said he was working three jobs at the time of the fatal crash, to help pay the mortgage and support his family.

He started taking drugs to sleep and to be awake for work, and had taken them before driving to work on the morning of the crash.

He claimed to have started “pulling his teeth out”, because of everything that had happened, but was now getting help.

“I want my kids to look up to me, not down at me,” he wrote.

Teraki said since being in prison he had become completely drug-free, had stopped taking medication and “felt the best” he ever had.

He said he had “awesome support” from family and upon release he aimed to work full-time as a builder.

“I have to live with what happened that day and always will. But have changed my thinking and look at life,” Teraki wrote.

The tribunal concluded that it was not in dispute that Teraki failed the character test; the issue in the proceedings was whether there was another good reason why the cancellation of the visa should be revoked.

It considered his risk of re-offending as low, and his family ties and social links in Australia were “significant”, which all weighed in favour of reversing the decision to cancel his visa.

– This story originally appeared in the New Zealand Herald.

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

LiveNews: https://livenews.co.nz/2026/03/14/new-zealander-nathan-teraki-jailed-in-australia-over-fatal-crash-while-drugged-avoids-deportation/

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Live: Fijian Drua v Brumbies – Super Rugby Pacific

Source: Radio New Zealand

Follow all the Super Rugby Pacific action as the Fijian Drua take on the Brumbies at 4R Stadium in Ba.

Kickoff is at 4.35pm.

Team lists

Drua head coach Glen Jackson has named a strong line-up led by captain Frank Lomani, and featuring hometown favourites Joji Nasova and Isoa Tuwai.

Jackson has kept a consistent tight five, retaining the front-row trio of Haereiti Hetet, Zuriel Togiatama and Mesake Doge, and the locking duo of Mesake Vocevoce and Isoa Nasilasila.

Winger Ponipate Loganimaso returns to the team, following his recovery from an injury, but there is no place for former French international Virimi Vakatawa.

Super Rugby Pacific leaders Brumbies are heading to Ba with their first loss behind them, after they were beaten by the Reds at home last weekend.

Fijian heritage player Rob Valetini has been named in the starting line-up for his 100th Super Rugby game for the club.

Fijian Drua: 1. Haereiti Hetet, 2. Zuriel Togiatama, 3. Mesake Doge, 4. Mesake Vocevoce, 5. Isoa Nasilasila, 6. Etonia Waqa, 7. Motikiai Murray, 8. Elia Canakaivata, 9. Frank Lomani (captain), 10. Isaiah Armstrong-Ravula, 11. Ponipate Loganimasi, 12. Isikeli Rabitu, 13. Tuidraki Samusamuvodre, 14. Joji Nasova, 15. Iliasia Droasese

Bench: 16. Sairusi Ravudi, 17. Emosi Tuqiri, 18. Peni Ravai, 19. Vilive Miramira, 20. Kitione Salawa, 21. Isoa Tuwai, 22. Isaak Fines-Leleiwasa, 23. Iosefo Namoce

Brumbies: 1. Lington Ieli, 2. Billy Pollard, 3. Darcy Breen, 4. Nick Frost, 5. Toby Macpherson, 6. Tuaina Taii Tualima, 7. Luke Reimer, 8. Rob Valetini, 9. Klayton Thorn, 10. Tane Edmed, 11. Kye Oates, 12. David Feliuai, 13. Kadin Pritchard, 14. Corey Toole, 15. Andy Muirhead (captain)

Bench: 16. Liam Bowrn, 17. Blake Schoupp, 18. Tevita Alatini, 19. Lachie Shaw, 20. Rory Scott, 21. Ryan Lonergan, 22. Declan Meredith, 23. Hudson Creighton

Isikeli Rabitu of Fijian Drua during the round two. Darrian Traynor

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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/2026/03/14/live-fijian-drua-v-brumbies-super-rugby-pacific/

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Thousands queue as doors open at revamped Wellington Library after seven years

Source: Radio New Zealand

The queue to get back into Wellington Central Library, after seven years, reaches around the also just-reopened Civic Square, past ongoing work at the Town Hall. RNZ / Samuel Rillstone

Thousands have queued – some for hours – to get back in the doors of Wellington Central Library, which reopened on Saturday, newly strengthened and renovated after being shut for seven years.

A ceremony was planned, with a ribbon-cutting, then music and story-telling performances throughout the weekend. The library, called Te Matapihi ki te Ao Nui, was open again for normal operations, from 10am Saturday.

The eye-catching building in central Wellington has been closed since March 2019, when it was deemed an earthquake risk, with significant work needed.

As the launch unfolded, former library staff member Jane Shallcrass told RNZ she never once would have expected thousands of people to be waiting outside the door for a library, but she was thrilled by the community support.

“To see the joy on people’s faces as they came up the escalator and realised the full glory of the new library, and I think to hear the music – that was really great, just wonderful. And that all these people are queuing two hours, for a library – not for a pop star or anything.”

Jane Shallcrass, at the opening. RNZ / Samuel Rillstone

Shallcrass worked at the central library when the Ian Athfield-designed building first opened in 1991 (the library itself has existed since 1893). But today she was back to perform in one of the choirs, and said the $217 million bill for the library project was money well spent.

Artwork by Māori artist Darcy Nicholas in the new Wellington library. RNZ / Mark Papalii

Te Ngākau Civic Square, next to the library, also reopened on Saturday, with new landscaping, seating, play areas and water features.

Wellington mayor Andrew Little said the milestone is a positive turning point for the central city.

He said as well as books, the library contains a variety of creative spaces, including an area with 3D printers and a CNC machine.

  • First look inside the new Wellington library

    • Andrew Little, at the official ceremony on Saturday. RNZ / Samuel Rillstone

    “The area of town which the library is in has been kind of boarded up and shut down and difficult to move around for some time,” Little said.

    “So with all the hoardings coming down and the library opening up and a place for people to come in their hundreds, it’s really going to make a big difference to that part of town.

    “We’ve now got a space – or spaces – for people to come. They can come to the library, there’s a range of things they can do here, and they can go into the square and just enjoy, relax, meet, gather, protest – do whatever they want to do. The spaces are back.”

    On another side of Civic Square, Te Whare Toi The City Art Gallery, which closed for construction work in June 2024, is scheduled to reopen later this year. While facing the gallery across the square, the Wellington Town Hall, which closed in 2013 as it was deemed earthquake-prone, could reopen next year.

  • Take a look inside the newly refurbished library with RNZ.

    • Inside the library, earlier this month. RNZ / Mark Papalii

    Creative spaces are a feature of the new Wellington library building, which RNZ toured earlier this month. Supplied

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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/2026/03/14/thousands-queue-as-doors-open-at-revamped-wellington-library-after-seven-years/

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Corrections ordered to pay officer Duane Farrell $94k after failures following prison hit threat

Source: Radio New Zealand

10 years later, Corrections officer Duane Farrell has been awarded almost $95,000 in compensation. RNZ / Kim Baker Wilson

A Corrections officer was told to “shake off” his injury following an attack by a prisoner, and was later suspended for the incident and put on trial as the accused.

It was around this time that Duane Farrell also learned his life was under threat in his work, which had not been communicated to him by his employer.

Now, almost 10 years later, Farrell has been awarded almost $95,000 in compensation and lost wages after the Employment Relations Authority (ERA) found he had been treated unfairly while working for the Department of Corrections.

According to an ERA decision, on April 20, 2017, an inmate at an Auckland prison attacked Farrell from behind while he was moving him through the prison.

Farrell told his superior officers he believed he had suffered a significant injury and asked several times for an ambulance to be called to take him to hospital.

This was denied, and he was instead taken to the medical unit, where he was told by a nurse to “shake it off” and wait in the duty supervisor’s office before he was driven to the hospital by another Corrections officer.

In June and July 2017, information came to Corrections’ attention that there was a specific safety threat against Farrell, but Farrell was not informed.

On his return to work in August, he was rostered to work in the same unit in which he had been assaulted.

He told the authority he felt this was appropriate because of his familiarity with the other Corrections officers working there, the systems and the prisoners in that unit.

But that month, Farrell identified a security risk in the unit, which he reported.

Following an assessment, the prison director arranged for him to be moved to another unit that was deemed safe, as there was a potential threat to Farrell.

Later that month, he was promoted to senior Corrections officer and relocated to another unit.

But Farrell was concerned that the reason he was moved was not properly communicated to him, and he did not understand the nature or extent of the threat against him, leaving him fearful and on edge at work.

Farrell found out at a meeting in September that there was a “level 1 threat” made against him, which meant “life is under specific threat of an act of violence from an individual or group capable of carrying out the threat”.

He “felt sick” knowing he had been allowed to return to work in a unit where he could have been attacked again and Corrections had not told him.

“Farrell’s concerns about his safety at work and Corrections’ ability to keep him safe at work were escalating,” authority member Marija Urlich said in the decision.

“He felt his trust that his employer would keep him safe at work was breaking down.”

On November 16, Farrell attended a police interview regarding the earlier assault.

He was told the charges against the prisoner were likely to be dropped and that he would instead be charged, along with two other officers, for assaulting the prisoner.

In March 2018, Farrell was working in a unit holding vulnerable prisoners when an inmate threw urine at another officer, which splashed on Farrell.

Later that month, a prisoner asked to speak with Farrell while he was on duty.

He was then spat at, which resulted in “a spontaneous use of force” by Farrell.

That action was found to be inappropriate, and he was put on non-facing prisoner duties in the gatehouse.

In April 2018, Farrell was suspended from work after police charged him with the initial assault.

A trial took place, with the Crown alleging that Farrell and two other officers attacked an inmate after he hit Farrell.

He was acquitted of the criminal charge.

Farrell returned to work in 2022, completing a refresher course, then resumed duties in his usual work location. His concerns about an adequate, safe return to work continued.

Urlich found that Corrections failed to provide information in relation to serious threats to Farrell’s safety at work during 2017 and to provide a safe system of work after the assaults and injuries he suffered.

It also failed to fairly and reasonably place him on alternative duties and fairly and reasonably consider alternatives to suspension.

“He said he felt punished for doing his job and felt he had been left out of the loop about information that was pertinent to his safety,” Urlich said.

“His understandable alarm and distress to learn the threat against him personally had been assessed by Corrections at the highest level and that this information had not been provided to him, or why, has amplified his fear of threats to himself and his family and made him feel on edge at work.”

Corrections was ordered to pay Farrell $60,000 in compensation, $25,000 in general damages and $9500 in lost earnings.

It was also ordered to pay a $4000 penalty to the Crown.

A Corrections spokesperson told NZME it was still considering the determination and its next steps.

Farrell did not respond when approached for comment.

This story originally appeared in the New Zealand Herald.

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

LiveNews: https://nz.mil-osi.com/2026/03/14/corrections-ordered-to-pay-officer-duane-farrell-94k-after-failures-following-prison-hit-threat/

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Carry less weight and check tyre pressure: AA’s advice to save fuel

Source: Radio New Zealand

Saving fuel could mean taking simple steps like carrying less weight, driving safely and checking tire pressure. RNZ / Dan Cook

The Automobile Association is advising people to take steps that could help save fuel as the Middle East conflict bumps up prices.

Principal advisor Terry Collins said people can use less fuel by driving safely, checking tire pressure and taking fewer trips.

“Getting the car up to operating temperature … doing all those trips in one go coming back you’re saving fuel.”

Prices have been going up because of the volatility on the wholesale market caused by the conflict in the Middle East following the US-Israel strikes on Iran.

Collins said saving on the cost of fuel can come down to taking simple steps like carrying less weight in the car.

“Don’t drive all week with extra weight unnecessary like golf clubs or other things in your car that aren’t doing anything other than sitting in there. Weight will always make you use more fuel.”

Collins advised people to take a roof rack off their car, as it will make the aerodynamics of the vehicle better.

Checking tyre pressure was also on the list to save fuel, as he said it can decrease in colder weather.

He is also urging people to use an app, like Gaspy, to find the cheapest petrol station near them.

“It’s a homogeneous product which means basically its the same where ever you get it and so buying it by the cheapest price is the best smartest thing to do.”

Since the start of the conflict the price of oil has almost doubled from where it was at the start of the year.

The ripple effects of the price increase has also been the potential for inflation across a wide range of goods and services.

This week demand on Gull’s discount day left some of its petrol stations running low on fuel.

Gull stations in Auckland have run out of petrol at some locations, including this one in Sel Peacock Drive in Henderson. 12 March 2026. RNZ/Calvin Samuel

Gull said 3 percent of its sites had not been able to meet the extra demand from customers when it cut prices on its regular Thursday promotion.

Emeritus Professor in Climate Mitigation and Sustainable Energy at Massey University, Ralph Sims, had previously given similar advice to drivers on saving fuel as prices spiked.

“Most people don’t understand how to drive a car efficiently. I see people accelerate to a red light and then brake heavily, and if you’re running on low tyre pressures, it consumes much more fuel,” Sims said.

He also suggested the government do a national education campaign on fuel-saving tips like avoiding heavy braking, checking tyre pressure, and taking things that add weight, like a roof rack, off their vehicle when they are not needed.

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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/2026/03/14/carry-less-weight-and-check-tyre-pressure-aas-advice-to-save-fuel/

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Should I pay off my mortgage or save for retirement – Ask Susan

Source: Radio New Zealand

RNZ

Got questions? RNZ has launched a podcast, No Stupid Questions, with Susan Edmunds.

We’d love to hear more of your questions about money and the economy. You can send through written questions, like these ones, but even better, you can drop us a voice memo to our email questions@rnz.co.nz

You can also sign up to RNZ’s new money newsletter, ‘Money with Susan Edmunds’.

No matter what mental gymnastics I do in my head and what calculators I use, I can’t work out how to maximise growth as I head towards retirement. Am I better off increasing my KiwiSaver contributions, or should I increase my mortgage repayments to minimise interest and term? It’s probably down to one’s own situation, but are there examples where one might be a better option than the other?

You’re right that it depends a lot on your own situation, and also your personality.

I talked to Rupert Carlyon, founder of Kernel KiwiSaver about this.

He points out that when you pay off your mortgage, you’re guaranteed a five percent taxfree return (or whatever interest rate you would otherwise be paying). As long as you keep paying, there is pretty much no risk that you won’t save yourself pretty significant sums of money in the long run by paying off your mortgage.

“With a KiwiSaver growth fund you may get a return of five percent to eight percent over a 10-year period,” he said.

“The returns from the market may be higher than that – though they may also be lower”.

He said you would also need to manage the downside risk. What would happen if your KiwiSaver fund did not perform as expected or lost money?

“If a member is a long term investor and plans to remain invested for at least eight to 10 years – then the probability of achieving an eight percent to 10 percent return with the KiwiSaver are higher than if they are a short term investor. If they need the money inside that time horizon – there is a significant chance of a market downturn and potentially the investment loses money – that is why the client should be in a balanced or conservative fund, and it is very unlikely that a balanced or conservative fund outperforms the mortgage over the medium term.

“If the person wants to maximise and is able to afford to take a little more risk – then potentially a KiwiSaver growth fund is the right answer. Though it depends on their time horizon and appetite for risk.”

You’ll need to weigh up how much you stand to save by paying off your home loan, what you will do once you’ve done that, and what sort of investment returns you can expect to get over the same period.

I know some people put all their money into clearing their mortgage and then plan to invest afterwards. This does reduce the amount of time you have for returns to compound, and relies also on you having the personality to actually do it.

If you can go into retirement with a mortgage-free home, that’s likely to reduce your stress quite significantly.

Can you advise me, I am getting NZ Super this year and will continue working. Which one should be secondary tax? I pay market rent and am single.

This will depend on how much you are earning from your job.

You should choose a main income tax rate for which ever income source gives you more. If you earn more than you get in NZ Super, you should have NZ Super as your secondary income. But if NZ Super will be more, you should switch your other income to a secondary tax code.

You won’t pay more tax overall for having a secondary tax code, but the addition of extra income will increase your overall tax bill which means more may need to be taxed at higher rates.

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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/2026/03/14/should-i-pay-off-my-mortgage-or-save-for-retirement-ask-susan/

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Gisborne councillors back waste hub site despite mana whenua opposition

Source: Radio New Zealand

Gisborne District Council agreed to purchase land at 275 Lytton Rd for $6.65 million (loan-funded) last year, with plans for a possible Regional Transfer Station and Resource Recovery Centre. Wynsley Wrigley

Gisborne is a step closer to taking control of regional waste, but some district councillors expressed “discomfort” over the process.

Councillors voted on a preferred site for developing the regional Refuse Transfer Station and Resource Recovery Centre at a council meeting on Thursday.

The 275 Lytton Road site was the recommended option in the council report and “the strongest” according to technical and financial assessments.

However, a mana whenua group, Te Kuri a Tuatai Marae, opposed the site, which was close to their marae.

Confirming the preferred site allows council staff to move into the next planning stages, involving a detailed concept design, cost refinement and a business case.

Māori ward councillor Nick Tupara said the council had not been “the best neighbour” to Rongowhakaata, Ngāi Tāwhiri and Te Whānau a Iwi for some time.

Te Kurī ā Tuatai Marae representatives expressed concerns about the site’s proximity and its visual impacts and prospects of noise, odour and increased traffic, potential effects on the Waikanae Awa, and the wider historical context of waste management in the area, according to the council’s meeting report.

There were ongoing legacy matters on environmental remediation, such as the former Paokahu landfill, which had “influenced perspectives”.

“A key message from marae representatives was: ‘Why address new waste infrastructure when historic waste impacts remain unresolved?’” the report reads.

Tupara voted against the report, along with Māori ward councillors Rhonda Tibble and Anne Huriwai, and general ward councillors Debbie Gregory and Samuel Gibson.

Gregory said the report was “bittersweet” to read. It was her “dream” to see the facility realised.

“I hate to delay anything as cool as this, but in my heart I can’t say yes at this point.”

Both Tibble and Gibson said they felt the “discomfort” in their “puku”.

Delaying the project would result in foregone savings estimated at $1.5 million to $3.2m per year, which would increase over time, the report reads.

“Previous analysis identified an estimated $8.7m capital cost advantage compared with a new Greenfield facility, with further modelling confirming ongoing system‑wide benefits from council ownership.”

Gisborne’s current supply chain for waste creates “market inefficiencies, increased costs, and poor sustainability incentives”, a presentation slide read.

Residents pay $527 per tonne of general waste disposal at the Gisborne Refuse Transfer Station, compared with the national average of $220-$430 p/t.

The cost to the region is estimated to be $12m per year and was forecast to be $16m per year by 2033.

Mayor Rehette Stoltz and Māori ward councillor Rawinia Parata “hesitantly” and “tentatively” supported the paper, and deputy mayor Aubrey Ria said it had caused her much “āmaimai” (anxiety).

Mayor Rehette Stoltz. RNZ / Angus Dreaver

Stoltz said she had seen the council go “above and beyond” the Treaty compass to make sure it was not a transitional relationship.

“If we decide today to move this forward, we will do better, and we will keep the door open to focus on improving that relationship.”

Parata said she was interested in the pathways of improving, beautifying and supporting the surrounding areas.

As part of the next phase of work, the council would prioritise a governance-led “best neighbour” approach, according to the council report.

This included environmental protection and enhancement beyond minimum compliance, and design and operational controls that would minimise noise, odour, litter, traffic and visual effects.

Ria said her vote of support did not “predetermine” her decision that the final confirmation of the site was “set in stone”.

She was “willing to take the risk of the further expense” and hoped for “some progression in [council’s] kōrero with hapū and marae”.

She asked whether the transfer station would also go out for consultation with the Waste Management and Minimisation Plan, which had been adopted for consultation at the meeting.

Chief executive Nedine Thatcher Swann confirmed that the council would “use the same channels to get the information out at the same time”.

Councillor Larry Foster said he was “totally happy” to move the report, which councillor Alexander Boros seconded.

He was sure most of the community would support the decision.

“To have a facility that we can totally recycle and utilise our waste is absolutely awesome.”

Chief adviser of Māori partnerships Gene Takurua said he did not want to “challenge or disrespect” the position of marae, hapū and iwi, but did not think the council got to engage or discuss “the real kaupapa” and “opportunity at hand”.

This was because of the legacy issues that continued to impact the surrounding area, Rongowhakaata iwi and the hapū concerned.

Opportunity was provided for the marae and Rongowhakaata Iwi Trust to “sit as equal partners” and be recognised for time, effort and contribution.

“Hand on heart, I feel that we certainly aligned with our Treaty requirements and responsibilities in terms of our attempts.”

The council report states that further sites had been explored; these sites either could not support future growth, recycling and recovery initiatives, posed significantly higher operational costs, or were not suitable for the Regional Resource Centre.

The Lytton Road site was the only site within council ownership that could be progressed without significant delays, rework or additional land acquisition.

The site options were 75 Innes Street (status quo), 275 Lytton Road and a greenfields site in the vicinity of Gisborne City.

The recommended option voted on by councillors meant the council would continue to “actively invite mana whenua engagement, including opportunities to participate in design refinement, environmental enhancement, monitoring and ongoing dialogue”.

LDR is local body journalism co-funded by RNZ and NZ On Air.

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

LiveNews: https://nz.mil-osi.com/2026/03/14/gisborne-councillors-back-waste-hub-site-despite-mana-whenua-opposition/

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Whānau of Māori Battalion soldier hope film will see him receive Victoria Cross

Source: Radio New Zealand

L. Sgt. Haane Manahi DCM photographed by George Bull in 1943. George Bull

The whānau of a Māori Battalion soldier hope a new film about his exploits in Tunisia during the Second World War will see him finally receive the Victoria Cross.

L. Sgt. Haane Manahi DCM (Te Arawa, Ngāti Raukawa) joined B Company, 28th Māori Battalion shortly after the outbreak of the Second World War, he fought in Greece, Crete and North Africa. It was during the North African campaign in Tunisia that he confirmed his attributes as an outstanding leader and soldier.

According to his biography on Te Ara the Encyclopedia of New Zealand, he was in a platoon from the Māori Battalion that was ordered, in April 1943, to capture and secure the Takrouna feature – a steep, rocky outcrop rising almost a thousand feet above a group of olive groves.

It was occupied by 300 Italian and German troops, who were causing havoc to the advancing Allied army. The assignment was extremely dangerous and difficult due to heavy mortar and small arms fire, and by the morning after the initial attack on 20 April, Manahi’s platoon of around 30 men was reduced in strength to 10. Manahi then led a party of three men up the western side of the pinnacle.

In order to reach their objective they had to climb some 500 feet – the last 20 feet almost sheer. After a brief fight, some 60 enemy surrendered. Manahi and his party were then joined by the rest of the platoon and the pinnacle was secured.

Donna Morrison and Anaru Grant Jr. Supplied

Dr Donna Morrison is a producer of the new film and one of Haane Manahi’s nieces.

“Having the opportunity to travel with a small group to Takrouna in 2007, it really heightens an understanding when you see the citadel that is Takrouna. It has a 360 viewpoint of any approaching enemy. It is a magnificent landscape feature that really humbles you when you look at it because it is such an outstanding feature of the Tunisian landscape,” she told Māpuna.

Morrison said only two weeks prior to Manahi’s deeds of valour fellow Māori Battalion soldier Te Moananui-a-Kiwa Ngārimu was posthumously awarded the Victoria Cross for bravery, determination and outstanding leadership.

Following the battle at Takrouna, Manahi was recommended for a Victoria Cross, but was instead awarded a Distinguished Conduct Medal.

“Most pivotal and critical in this is that on the final night, Uncle Haane himself personally oversaw the bringing down of the wounded and the dead. It just tells me so much about Uncle Haane, the man. And that in itself is deserved of VC consideration,” she said.

Growing up Morrison never knew of that aspect of “Uncle Haane,” she remembers instead staying at his batch at Maketu and as her swimming coach a “hard taskmaster.”

During his lifetime Manahi did not want the VC reinstated, but once he passed in 1986 Sir Charles Bennett worked towards it on behalf of all of Te Arawa, she said.

“[Uncle Haane] didn’t want to fuss and bother. He thought everyone who went away deserved the VC. That was the man that he was.”

Although official policy did not allow for review of Second World War honours, in October 2006 Buckingham Palace agreed to present a personal letter from Queen Elizabeth II recognising his gallantry, a ceremonial sword and an altar cloth for St Faith’s Church, Ōhinemutu.

Morrison believes there is still merit in His Majesty King Charles restoring the VC to Manahi.

“The goal, albeit audacious, is something that I believe that King Charles may want to at least review.

“Perhaps the film will help to speed that process up. But I believe it is achievable with the right people, the right resources, at the right time.”

The film Sgt. Haane releases nationwide in theatres on April 23. Morrison encouraged whānau of soldiers to bring photographs of their own to the theatre as a joint commemorative opportunity.

Sgt. Haane is directed by Tearepa Kahi (Muru, Poi E: The Story of Our Song, Mt. Zion) with Alex Tarrant (The Lord of the Rings: The Rings of Power, NCIS: Hawaiʻi, DMV) as Haane Manahi.

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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/2026/03/14/whanau-of-maori-battalion-soldier-hope-film-will-see-him-receive-victoria-cross/

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Greyhound Racing New Zealand calls for clarity ahead of ban

Source: Radio New Zealand

Greyhound Racing New Zealand is disappointed the committee made the recommendation. 123RF

The greyhound racing industry is calling for clarity on its transition plan, as the looming ban on the sector gets closer.

A legislation shutting down the sport by August passed its first reading late last year.

A select committee has released its report and recommends proceeding but suggested allowing TAB to continue taking bets on overseas races after domestic racing ends.

Greyhound Racing New Zealand is disappointed the committee made the recommendation.

Chief executive Edward Rennell said people were still in the dark and there was a lot of work left to be done with over 1000 greyhounds to be rehomed.

“We’re only four and a half months out now and there’s a tremendous lot of work and there’s a lot of uncertainty in terms of how things are going to work from 1 August and further clarity is required for our industry participants.”

“At 31 July we’re projecting there’s still going to be 1600 greyhounds to be rehomed.”

Rennell said the select committee’s outcome was not what they had hoped for.

“We felt the greyhound industry and the people that submitted clearly outlined why we didn’t believe there were grounds for closure and the tremendous progress the industry has made form a welfare perspective.”

“We were hoping after consideration of the submissions that the select committee would have reviewed the decision.”

ACT MPs have voiced strong objections to the ban, saying breeders, owners and venues deserve better treatment.

ACT MP Cameron Luxton had previously said the government should “at the very least” set up a compensation scheme.

“We’ve listened to a community that’s been misunderstood by Wellington. They’re getting a raw deal. Their property rights have been disregarded, and someone needs to stick up for them.”

In a previous statement, Racing Minister Winston Peters had said everybody had had the opportunity to have their say through the select committee process.

“This decision was not taken lightly,” he said.

“However, it was considered that the rates of dogs being seriously injured remained too high and the improvements made were not significant enough.”

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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/2026/03/14/greyhound-racing-new-zealand-calls-for-clarity-ahead-of-ban/

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Benefit rules confuse: Employed partner given job search obligations

Source: Radio New Zealand

Unsplash / Anu Priya

A man who was made redundant last year has been left perplexed when his employed partner was told she would need to attend a seminar on gaining employment.

Andy, whom RNZ has agreed not to identify, lost his job last June.

“As I’ve been paying my taxes I thought I would see if I would be eligible for the unemployment benefit, which I wasn’t at that time because my de facto partner of 28 years had full time employment as a chef which she has held for 14 years, fair point so it was left there.”

There are limits on how much a household can earn and still remain eligible for benefits. When someone is on JobSeeker, household income over $160 a week before tax affects eligibility.

But Andy said four months later, her hours had been cut to four days.

“So I wait four weeks, so I can offer four payslips as proof and apply again.”

He said he applied online for his own benefit, and attended an interview.

But then his partner was called in and asked the same questions, despite not seeking a benefit.

“After two hours we’re sent away to await ‘our applications to be processed’ then I get a phone call to confirm that both our applications have been accepted but because my spouse has part-time work, her benefit is classified as her main income – all $51.20 of it – her wage will be classified as her second income and taxed accordingly. She’s employed, she doesn’t want any benefit, it was my application.

“On top of that, because she is now classed as unemployed she also has to attend a seminar about what benefits she’s entitled to claim and advice on gaining employment. But, she’s very happily employed.”

He said it had created a situation where there was an extra benefit application, and she was being forced to take time off work to attend a seminar about getting work.

“We’ve actually cancelled my application because my spouse doesn’t want to be contacted by anyone regarding other employment, who knows how her current employer would react if they thought that she was looking for work. Would they believe us?”

Rena Hona, regional commissioner for the Ministry of Social Development in Northland, acknowledged it was a difficult time for the couple.

“We’re happy to help Andy with his search for employment in any way we can, and we encourage him to remain in contact with us.

“We have a wide range of support available to help people find jobs and employers across the region regularly let us know about new vacancies.”

Hona said Andy’s partner’s 24 hours a week did not meet the minimum standard for full-time employment.

“This means she would need to take reasonable steps to secure employment of at least 30 hours a week if she and Andy applied for Jobseeker Support payments as a couple.”

Hona said Andy’s partner had been told she would not be required to attend a seminar and could have a one-on-one interview instead.

“New Zealand’s social security system is built on the premise that people in a relationship share costs and support each other financially. This is why applying for Jobseeker Support works differently, and the payment rates may differ, if someone is single or in a relationship.

“If someone in a relationship applies for assistance their partner also needs to give us some information. We’re required by legislation to assess both partners’ employment status and their combined household income. We then use this information to determine what they may be eligible for and what their obligations might be. These obligations could include looking for a full-time job and keeping us updated about how that goes.”

When someone was working 30 hours a week, they would not have job search obligations.

“If people need financial assistance because they’re not working full-time, we expect them to take all reasonable steps to confirm suitable full-time employment as soon as possible, so they no longer need financial assistance. This is a longstanding principle which underpins New Zealand social security legislation.”

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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/2026/03/14/benefit-rules-confuse-employed-partner-given-job-search-obligations/

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Australian college suspends censured NZ teacher, Jason Morgan, after tribunal reveals sex talk with students

Source: Radio New Zealand

Chanel College Queensland, where Jason Morgan now works. Google Maps

A teacher censured for asking students inappropriate questions, including, “How long would you wait to have sex with a dead girl?”, has now been suspended from his teaching role in Australia.

Teacher Jason Morgan made multiple sexual comments to students while working as a boarding house assistant at a New Zealand school in 2023.

The Teachers’ Disciplinary Tribunal was only able to censure him, because he had moved overseas and was teaching at Chanel College in Queensland, Australia.

The tribunal decision said the Queensland College of Teachers (QCT) was aware of Morgan’s teaching background.

A former student of Morgan’s at the time of the incidents told NZME he was shocked to hear Morgan was still teaching in Australia.

“For him to be teaching again is completely unacceptable for a man who has made sexual jokes.

“I highly recommend Chanel College do change their mind as he should be terminated from teaching and any job that involves kids.”

The former student alleged that more comments were made, beyond what was mentioned in the tribunal’s decision, which made students at the time uncomfortable.

However, a Catholic Education – Diocese of Rockhampton spokesperson, who oversees the Queensland school at which Morgan was teaching, has now told NZME that he has been suspended.

“The college has recently become aware of concerns relating to one of our teachers while in a previous role at a school overseas,” the spokesperson said.

“The staff member has been suspended from all duties while the matter is being investigated.”

They said the college had notified the relevant authorities.

“The safety and well-being of our students remain our highest priority.”

A spokesperson for QCT said it could not comment on any individual’s teacher registration or matters of professional conduct.

At the time of the misconduct, Morgan was a teacher and boarding house assistant at a school that cannot be identified.

During Term 1 and 2, Morgan made inappropriate comments of a sexual nature while in his capacity as house assistant, specifically at the end of the day when they shared a “thought of the day”.

The “thought of the day” was a way to wind down students before bed.

The students said comments made by Morgan during these discussions included, “Would you have regular sex with a seven out of 10 or have a one-night stand with a nine out of 10?” and, “Would you sleep with an absolute 10 out of 10 if she was crazy as?”

The decision states he also asked, “How long would you wait to have sex with a dead girl?”

Morgan also engaged in banter and jokes with a student over several days, while other students were present.

During this exchange, Morgan told the student that he would “come on your mum’s back”, the decision stated.

After Morgan made the comment, he apologised to the student.

Later that month, Morgan made inappropriate comments in front of several students when speaking about hunting. He reportedly said, “Be careful you… boys don’t f*** [goats]”.

Morgan voluntarily resigned after the complaint. He has been approached for comment.

– This story originally appeared in the New Zealand Herald

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

LiveNews: https://nz.mil-osi.com/2026/03/14/australian-college-suspends-censured-nz-teacher-jason-morgan-after-tribunal-reveals-sex-talk-with-students/

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NRL: NZ Warriors powerhouse Leka Halasima stars in big win over Canberra Raiders

Source: Radio New Zealand

Leka Halasima has the tryline in sight for the Warriors against Canberra. Andrew Cornaga/Photosport

Analysis: Exactly seven days earlier, NZ Warriors coach Andrew Webster sat in exactly this same seat and more or less predicted what would happen.

He was defending his decision to delay the introduction of young powerhouse Leka Halasima off the bench until after halftime of the season-opening win over Sydney Roosters.

“The day will come when Leka will play 80 minutes and I’m looking forward to that day, because it will be awesome, but he doesn’t need to do it right now,” Webster said. “He just needs to own his little time and have that impact.”

A week late, his team needed that performance from ‘Leka the Wrecker’.

Halasima had scored a try with his first touch against Sydney, but a week later, as the Warriors overwhelmed defending minor premiers Canberra Raiders 40-6, he fully lived up to Webster’s faith. Thrust into the starting line-up before kickoff through injury, he went the full distance, producing a try double and making his impact felt all around the park.

“Honestly, we were all just talking in the sheds about how proud we were of Leka,” Webster said. “He got a minute’s notice, knuckled down, scored two tries, but his tackling, his defence, his effort areas were the best parts of his game – and he did it for 80 minutes.

“Happy, super happy.”

To open their 2026 campaign, the Warriors have now put 40 points on two highly rated opponents and, while Webster insisted the Roosters scoreline was flattering, he was comfortable his team had earned every bit of their advantage over these opponents, who had a winning head-to-head historical record against them and had won their last three meetings.

This is just the fourth time the Auckland NRL club has begun a season with back-to-back wins – they have only once strung three together. In 2018, they rattled off five.

“Wins like tonight aren’t a surprise to us, but at the same time, we’ve got to get better,” Webster insisted.

Here’s what else we learned from the win over Canberra:

Best player

Halasima was originally selected to come off the interchange, probably in a very similar role to last week, but all that changed when veteran second-rower Kurt Capewell pulled up lame with a calf strain in warm-ups.

His first try came in the 49th minute, when he chased a kick into goal from halfback Tanah Boyd and dived unopposed for the touchdown.

With just over 10 minutes remaining, he propped off his left foot inside one sprawling defender, brushed off counterpart Noah Martin metres from the line and then tumbled over in the tackle of Kiwis centre Matt Timoko for his second try.

His 35 tackles were only a couple less than team-leading Jackson Ford (37) and he ran for 114 metres. After pacing the Warriors in tries last season with 13, he is already among the competition’s leaders with three in two games.

Supposedly filling in for Luke Metcalf, halfback Tanah Boyd continued to stake his claim for a fulltime role with another outstanding performance, scoring a try, kicking five conversions and a penalty, while providing two try assists.

Webster rated his showing against the Roosters as his best in a Warriors jersey – this was his second best.

Ali Leiataua celebrates his go-ahead try for the Warriors. www.photosport.nz

Front-rower Ford put in another massive effort – he was finally subbed off with five minutes remaining and was his team’s top fantasy scorer with 75 points. He led the Warriors in tackles and run metres last week, and ran for 154 metres this time.

Centre Ali Leiataua showed why he was missed last season, amid the Warriors’ midfield injuries, and may now take some unseating, when Rocco Berry returns from shoulder surgery.

After entering the game early, fullback Taine Tuaupiki was a constant threat on attack, running more than 200 metres and reminding everyone why he was so valued as Charnze Nicoll-Klokstad’s back-up – for now.

Key moment

Leiataua had already delivered a solid first-half performance, highlighted by six tacklebreaks and an assist on Dallin Watene-Zelezniak’s first try.

With the halftime score level at 6-6, he broke the contest open for the Warriors soon after the break, lurking in midfield to pick off hooker Tom Starling’s pass and gallop 50 metres for the go-ahead try.

The Warriors piled on 34 unanswered second-half points to have the Raiders totally demoralised by the closing minutes.

“That was a bonus,” Webster said of the intercept try. “We spoke about how well they offload the ball and just to stay up.

“Ali was up and made his own luck there. Awesome.”

Try of the game

So many to chose from, but how were the delightful soccer skills of lock Erin Clark in the build-up to Boyd’s try near the end?

Already up 30-6, Boyd created the opportunity with a well-taken 40-20 and then, at the end of the next set, put a kick along the ground towards the goal area.

Erin Clark and Tanah Boyd celebrate a Warriors try against the Raiders. Andrew Cornaga/Photosport

Clark overran his chase, but flicked the ball up with his heels, and Boyd was following to gather and score.

By then, everything the Warriors attempted turned up diamonds and more than a few Raiders heads went down after this audacious blow.

Injuries

Webster will be holding breath this week over an injury toll that disrupted this line-up against Canberra and may impact future selections.

Capewell’s departure was followed by five-eighth Chanel Harris-Tavita in the ninth minute, after he knocked himself out in a tackle. Fullback Nicoll-Klokstad moved to the halves and Tuaupiki came off the bench to replace him.

Captain James Fisher-Harris was also pulled from the field before halftime for a concussion check, but passed and returned to play an inspirational role in the result.

Ten minutes from the end, Nicoll-Klokstad also left the field for a test. By then, victory was safe and Webster simply slotted hooker Wayde Egan into the vacancy to close it out.

“We have something organised for every situation,” he assured. “Capey went down in warm-up with calf, so straight away, we knew that Leka was going to start.

“We knew, if we got an outside back or half injury, we would activate Taine, and Charnze would move to the halves or centre or wing.

“We had the plan and then Chanel went down, so we activated Taine, and then ‘Nuck’ went down, so we put Wayde Egan at half.”

The substitutions perfectly illustrated how administrators probably envisaged their new six-man interchange working, with teams now able to utilise specialist replacements, like Tuaupiki, off the bench, rather than playing forwards out of position among the backs.

Previously, Harris-Tavita’s injury may have caused an entire re-alignment of the backline, with Nicoll-Klokstad to five-eighth, Roger Tuivasa-Sheck to fullback, Adam Pompey to wing and Halasima to centre – or Egan stationed in the halves for most of the contest.

Kurt Capewell never made it past the warm-ups for the Warriors. Andrew Cornaga/p

“The best part was the boys were so calm and so clear during adversity,” Webster said.

Harris-Tavita is definitely out next week, so Webster must likely choose between Nicoll-Klokstad out of position or a first-grade debut for Luke Hanson.

If Nicoll-Klokstad failed his head injury assessment – and Webster had no outcome to report – the spine may include both Hanson and Tuaupiki.

Calves are tricky injuries – and trickier the older you get – so Capewell, 32, may need some time to heal. On the positive side, second-rower Marata Niukore, also recovering from a calf, played for the reserves in the curtainraiser and would be a like-for-like replacement.

Co-captain Mitch Barnett also nears a return from last year’s season-ending knee injury.

Canberra Raiders

The visitors started strongly with the opening try to fullback Kaeo Weekes, but had little else to offer for the rest of the journey.

Coach Ricky Stuart is usually the first to point the finger, if he thinks his team has been treated poorly by match officials, but this contest wasn’t close enough to blame anyone else.

“Disappointed with the result and the scoreline obviously,” he offered. “When you’re on, you’re on and when you’re off, you’re off.

“We had our chances, but they defended very well. You can’t take anything away from their defence – they scrambled well and defended well.

“That intercept, and then we made an error and they scored off that to put them 12 ahead,” Stuart identified the turning point. “With a big home crowd behind them and them on the front foot, it was going to be a big task coming back.”

After needing Golden Point to overcome Manly Sea Eagles in their season opener, the ‘Green Machine’ face another examination next week, when they host Canterbury Bulldogs, who also needed extra time to edge St George Dragons in their Vegas opener, before drawing the bye this week.

Chanel Harris-Tavita is treated for concussion, after knocking himself out in a tackle. Photosport

Tuivasa-Sheck 150th

The veteran wing had a mixed night, not at all helped by the loss of Capewell and Harris-Tavita from his edge.

He had a pass thrown behind him and another that dipped at his feet in the first half, but eventually led his team with 210 running metres.

While he couldn’t find the tryline in his milestone game for the club, RTS was caught off guard, when Boyd tossed him the ball to convert Watene-Zelezniak’s final try.

“Just hit and hope,” he winked. “I was in shock at the time, but all the boys were egging me on, so I took the role on and was surprised it went over.”

Tuivasa-Sheck kept the kick low, with a little right-to-left fade that steered it safely between the uprights.

Webster observed: “If we’d missed the top eight by two points, I was never going to forgive him.”

What the result means

Again, too early in the season to make any definitive difference on the competition table yet – but Warriors are on top and become the first team to record two victories in the new season.

After two big wins, their points differential is comfortable (+58), remembering they finished only +21 for all of last season and never ventured above +36.

[h}What’s next

Warriors travel to Newcastle Knights, who took out the 2025 wooden spoon, but have changed coaches in the off-season and won their season-opener against North Queensland Cowboys 28-18 in Vegas.

Kiwis coach and Warriors assistant Stacey Jones will have a chance to discuss Kalyn Ponga’s impending international allegiance switch with the player after the game.

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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/2026/03/14/nrl-nz-warriors-powerhouse-leka-halasima-stars-in-big-win-over-canberra-raiders/

Posted on

Energy Minister attending Energy Security Forum

Source: New Zealand Government

Energy Minister Simon Watts is travelling to Japan to join international leaders and businesses at the Indo-Pacific Energy Security Ministerial and Business Forum.

“As the world grapples with the recent events in the Middle East and heightened geopolitical uncertainty, energy security has never been more important to the economic prosperity of New Zealand and our partners in the Indo-Pacific region,” Mr Watts says.

“New Zealand’s attendance at the Indo-Pacific Energy Security Ministerial and Business Forum is essential to reaffirming our commitment to securing global energy supply chains, particularly for liquid fuels.

“While the conflict in the Middle East continues to be disruptive to international oil markets and the global economy, New Zealand is prepared for a disruption to fuel supply. Our fuel system is resilient, our stocks are healthy, and our plans are built precisely for moments like this. We are actively monitoring the fuel security situation for New Zealand and remain in close contact with fuel companies.

“In the light of the International Energy Agency’s (IEA) decision to proceed with collective action, attending the Forum is a valuable opportunity to engage directly with New Zealand’s closest trading partners in the Indo-Pacific region and emphasise the importance of international collaboration.”

Mr Watts will attend the forum from 14 to 15 March 2026 and return to New Zealand on Monday 16 March.

LiveNews: https://nz.mil-osi.com/2026/03/14/energy-minister-attending-energy-security-forum/