Environment Minister Nick Smith is rejecting suggestions his recent Resource Management Act reforms were completed in a shambolic fashion. The government's next moves on RMA will be about long-term reform, probably over the life of more than one government, he says. He claims there is a growing consensus among both environmental groups as well as the business sector that, while the Resource Management Act might look after environmental protection adequately, it (and the way it interacts with other planning related laws such as the Local Government Act and the Land Transport Management Act), does not allow for adequate planning, particular for infrastructure.

Read more ($): https://www.nbr.co.nz/article/consensus-substantive-rma-reform-emerging-nick-smith-claims-rh-p-202626

With their merger nixed, paywalls are one option for Fairfax and NZME as they look for alternative ways to boost revenue. NZME boss Michael Boggs has already indicated he’s open to the concept, at least for some content. But just how open are they?

Read more ($): https://www.nbr.co.nz/article/survey-finds-90m-potential-paywall-revenue-nz-news-websites-ck-p-202629

Bank of New Zealand’s boss expects the pressure on bank profit margins is only going to worsen, even though interest rates have been rising again since November. The bank, which is owned by Australia’s National Australia Bank, has seen its own net interest margin fall 12 basis points in the year ended March to 2.15% after a 15-point drop in the previous first half. Chief executive Anthony Healy is blaming the battle to win deposits forcing lending costs up.

Read more ($): https://www.nbr.co.nz/article/bnz-expects-pressure-margins-get-worse-jr-p-202627

Private equity and venture capital plugged into New Zealand companies has exceeded $1 billion for the first time in more than a decade. Total investment and divestment activity across all investment stages increased from $494 million in 2015 to $1.5 billion in 2016, the annual NZ Private Equity and Venture Capital Monitor shows. Total investment came to $1.2 billion – a level not seen since 2007 – spread across 66 deals.

Read more ($): https://www.nbr.co.nz/article/new-zealand-private-equity-deals-tops-1-billion-first-time-decade-cs-p-202615

The slow pace of change to get a more diverse range of viewpoints on New Zealand’s boards despite a decade-long push is being criticised by those at the top. The Institute of Directors has doubled its membership in the past decade, from 3942 to 8046. In 2006, 19% of its members were female, while in 2016 it was 28%. But that rise in female membership has not been reflected in the proportion of women that sit on NZX-listed companies’ boards.

Read more ($): https://www.nbr.co.nz/article/board-breakdowns-show-diversity-push-not-reaping-results-cs-p-202624

The Commerce Commission wisely put competition and choice first when deciding the fate of the country’s two largest media companies. Both have pursued business models that emphasise free online delivery of their content at the expense of the newspapers that provide the bulk of the revenue to create it. That the primarily Australian owners of both companies saw their future in the elimination of competition is bad enough. It also ignores lessons events in their own backyard and even further abroad.

Read more ($): https://www.nbr.co.nz/opinion/editors-insight-its-getting-hotter-kitchen-climate-change-debaters

The government’s response to a recent outbreak of myrtle rust will probably cost millions of dollars, Primary Industries Minister Nathan Guy says. The fungal disease, which can cause serious damage to a variety of species of native and introduced plants and feijoas, was discovered in a nursery in Kerikeri on Tuesday. Officials believe it was carried by the wind to New Zealand from Raoul Island.

Read more ($): https://www.nbr.co.nz/article/government-response-myrtle-rust-outbreak-will-cost-millions-jw-202597

Xero’s arch-rival in the UK, Sage, has reported strong though slowing growth in subscribers in its home market. That has set a benchmark against which to measure Xero’s progress when it releases its annual results next week. Sage, which the Financial Times says is Britain’s largest listed technology company, reported 54% growth in paying Sage One subscribers in the UK and Ireland at the end of March compared with a year earlier.

Read more ($): https://www.nbr.co.nz/article/sage-latest-results-set-benchmark-xero-britain-jr-p-202595

The youth voter turnout for this year’s general election is again expected to be low, according to new figures. A recent study from the Research Association of New Zealand (RANZ) reveals a quarter of 18-25-year-olds don’t intend on voting in September’s election. But RANZ chief executive Robert Bree says it’s more likely that figure will be closer to 40% than 25% come election day.

Read more ($): https://www.nbr.co.nz/article/another-election-low-voter-turnout-among-young-people-expected-jw-p-202577

Bias is a growing concern for New Zealand businesses, especially in public organisations, according to new research. But the psychological tests measuring bias are perhaps more of a concern. The latest edition of the twice-yearly New Zealand Diversity Survey shows 48% of New Zealand organisations say bias is a key issue, up from 18% six months ago. Bias is now ranked as the third most important diversity issue in the workplace, behind wellbeing and flexibility.

Read more ($): https://www.nbr.co.nz/article/bias-rising-concern-businesses-although-tests-remain-questionable-ns-p-202568