Checkpoint

News from the business sector, including a market report.

It is the final day of the double header series between New Zealand and South Africa. The Black Caps and White Ferns play the last of five T20's against their Protea counterparts today. Sports reporter Jonty Dine spoke to Lisa Owen.

Teachers working from home, carpooling and cancelling away trips are just some of things rural schools are having to do to manage rising fuel costs. Rural schools are already finding it harder to get relievers, some of whom have to travel long distances to get to work, with private vehicles the only transport options. Families are feeling the squeeze too getting students to and from school bus stops. The New Zealand Rural Schools Association met with the Ministry of Education this afternoon to come up with a game plan. Association president Andrew King spoke to Lisa Owen.

The local government minister says he's called Wellington's mayor for a please explain over huge water bills for residents, which are forecast to hit almost seven grand a year by the end of the decade. One of the region's mayors says that figure is horrendous and unaffordable, and she's worried it will drive people out of the region. Wellington's new water entity, Tiaki Wai, is a council-controlled organisation taking over Wellington, Lower Hutt, Upper Hutt and Porirua City Councils water assets from July. It's warning residents of steep rises in charges as the organisation tries to fix old, failing infrastructure. Ellen O'Dwyer reports.

More than four million New Zealanders are missing out on modern medicines languishing on what is effectively Pharmac's drug wish list, according to a new report commissioned by Medicines New Zealand; a group representing the pharmaceutical industry. It says 137 modern medicines that Pharmac would buy if it could afford to have spent an average of six and half years on the Options for Investment list. The report says 83% of those medicines are so called standard of care drugs in other countries; meaning they are the go to treatments. Medicines NZ CEO Graeme Jarvis spoke to Lisa Owen.

After an estimated one million hours of construction labour, Te Rua - Archives NZ's new Wellington building - is now open. At a cost of $290 million it's described as one of the world's most technologically advanced archive-protection facilities. Delivered on budget and on time, the Internal Affairs Minister says it's a win for public-private partnerships. But where the archive's entire collection will eventually end up, and how much it will cost to store it, remains unclear. Mary Argue reports.

Utes and SUV's, some of the country's top selling new vehicles, are in the spotlight due to their capacity to guzzle fuel. With prices rising at the pump, there's concern about diesel stock, which largely keeps industry moving, including freight and farming. It's prompted calls for more regulation to discourage people buying supersized vehicles. Professor Alistair Woodward from the University of Auckland's Faculty of Medical and Health Sciences wants to see habits change. He spoke to Lisa Owen.

Councils in regions regularly threatened by floods have invested in an innovative, locally-made tool to help protect them and are encouraging others to do the same. They say the ARK flood barrier - a temporary, reusable dam - can be rolled out quickly in the midst of a disaster, an attractive alternative to heaving heavy sacks of sand. The Tauranga manufacturers say it's got potential to save homes, businesses and critical infrastructure across the motu. Lauren Crimp reports.

Sir Jim Ratcliffe is rocking the boat. The Ineos Group owner wants to take back the almost half a billion dollar racing yacht built by his company for the 2024 America's Cup. It follows a split between Ratcliffe and Sir Ben Ainslie who's team - Athena Racing - intends to take the boat to the next competition. Now Ratcliffe is claiming the boat built for the last challenge belongs to him. Sports editor Dana Johannsen spoke to Lisa Owen.

The coalition has ditched a contentious aspect of fisheries legislation after a backlash from recreational fishers. Several political parties are claiming credit for throwing back the controverisal law change that would have removed commerical minimum size limits for various species, including snapper. Fisheries Minister Shane Jones spoke to Lisa Owen.