The New Zealander redefining what luxury means
Every day, millions experience a bit of Kiwi creativity thanks to Christopher Yu. He left New Zealand for London 25 years ago as a tax attorney, but after being made redundant, he followed his nose to a new role, leading companies that transform perfume and candles into experiences of storytelling and design. Now, after decades at the center of Europe's luxury fragrance world, and with some encouragement from his mum in Lower Hutt, Christopher Yu is coming home to help redefine Kiwi luxury.
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Otago Daily Times
37 minutes ago
- Otago Daily Times
Building product access ‘good step forward'
Dunedin builder Sacha Gray installs plasterboard at a building site. PHOTO: GERARD O'BRIEN Access to overseas building products is a "lifeline" for the construction industry, but it could still take time for designers to risk trying new materials, a Dunedin builder says. Building and Construction Minister Chris Penk announced last week quality overseas building products including plasterboard, cladding systems, windows and external doors had been "given the green light" for New Zealand construction, which would end "costly monopolies" on a small number of products currently used in the country. New Zealand Certified Builders Otago president Sacha Gray said the announcement was "a really good step forward", but there were still questions to be answered. "We feel like we've been given a lifeline, but we're not quite sure where we grabbed that lifeline from." The New Zealand market was "very limited" and the cost to import certified products was prohibitive for a lot of people, Mr Gray said. Suppliers were also finding it harder than they had thought to convince builders and designers to change over from products they were already familiar with — even if it would be cheaper. The products that got used in a build were mainly determined by the architects and designers, he said. "It might take some time for it to actually sort of break into our good old Kiwi culture of the tried and true. "There's some awesome building products out there now that have been moving through, but it's very hard to get people to take a risk ... nobody wants to get caught with the wrong materials. "If it's something that people haven't used and they're unsure about, that's where I think it'll take time." He also questioned who would import overseas products into the country and who would stock them. The industry was hopeful the changes would create more choice and bring costs down, he said. "So I suppose we all sort of wait with bated breath." Mr Penk said it was 50% more expensive to build a standalone home in New Zealand than in Australia. "That is frankly outrageous. "These changes have the potential to reduce total building costs by thousands of dollars when building a home." There were "thousands" of well-made and high-performing products that had been tested against international standards but faced barriers for uptake in New Zealand because they had not been tested against the country's own standards. The changes would make it easier to use plasterboard manufactured in New Zealand, Australia, the United Kingdom, Europe and the United States, he said.
RNZ News
an hour ago
- RNZ News
Debt collectors harassing borrowers at their homes and workplaces, charity warns
Photo: 123RF An organisation representing financial mentors warns unethical debt collectors are harassing people to pay-off loans at their workplaces, homes and on social media. FinCap charity has released its annual Voices report after collecting data from more than 700 financial mentors. Its chief executive Fleur Howard said some debt collectors are deliberately panicking debtors and stricter rules are needed. "Financial mentors tell us they are working with people who are being harassed and coerced by debt collectors at work, at home, and on social media. This can endanger people's employment and embarrass them in front of their communities," she said. "These tactics force people to agree to repay debts they may not be legally responsible for, and repayment plans they can't afford. This can send people into a spiral of missed repayments, and see small initial debts balloon in size." The report shows half of those seeking help from a financial mentor are in work, while one in ten have a mortgage. Financial mentors have seen an 88 percent increase in waged or salaried clients earning over $1000 per week since 2021. The report states that many households have taken on debt to pay bills and keep food on the table, and a large burden of accumulated household debt has been building, much of which has become unmanageable. It said some debt collectors were also using coercion or illegitimate threats of legal action and turning up at people's workpaces, homes and sending excessive automated texts and emails. "This isn't about getting people out of debts that they legitimately owe," Howard said. "Some debts arise that should never have been issued under today's responsible lending rules. Sometimes, they are debts owed by a relative, which people are pressured into taking responsibility for, or there is actually no legitimate debt at all." Howard said many households were struggling with the burden of accumulated and unmanageable debt. "There are debt collection agencies who act responsibly, but the lax legal framework creates a wild west situation, where some unscrupulous debt collectors act unethically. " The Fair Trading Act governs all private debt collection and in May, Commerce and Consumer Affairs Minister Scott Simpson said he would review the Act later this year with a responsibility to "safeguard the interests of consumers and ensure that their rights are fairly upheld". Howard said that planned review, alongisde the Financial Services Reforms Bills currently before Parliament were important opportunities to fix the law around debt collection. "Debt collection reform will enable people to repay money they legitimately owe, without being subject to harassment and bullying," she said. David Verry from North Harbour Budgeting Services said the report echoed what financial mentors saw on a daily basis. He said when people believe that they're going to be talked about in social media, or somebody was turning up to their work premises they may feel forced to make some sort of payment that they may not be able to afford. "They'll feel forced into making some form of payment towards it before they make payments on other things, things like food or petrol for the car," he said. "When people turn up to people's places and they're in sort of pseudo uniforms that can be very intimidating for clients." Verry said currently there was no industry body that people could go to and complain about the actions of the debt collectors. "It's essentially an industry which is just completely unregulated, and what we would like to see is some boundaries put in place there," he said. "We'd like them brought into the Fair Trading Act. We'd like them to be licensed." Verry said financial mentors just want debt collectors to play the game fairly. FinCap is proposing three key recommendations for debt collection conduct rules: Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Otago Daily Times
an hour ago
- Otago Daily Times
Southern businesses buck trend
Otago's small businesses are finding a way to increase sales while North Island centres go backwards. Across the nation, sales weakness is uppermost in the north, with Northland down 3.5% in the June quarter compared with the corresponding period a year ago. A small business report by accounting software company Xero shows Wellington is back 3.1%, but Auckland declining 1.3%. In contrast, South Island centres are outgunning the national average, with Otago leading the charge, up 3.9% year-on-year for the quarter and Canterbury tracking 1.8% growth. This coincides with the agriculture sector making strong sales. The Xero Small Business Insights report revealed weak small business sales nationally in the June quarter, in line with an underwhelming result the past year. Overall, small business sales fell by 0.1% in the June quarter year-on-year, following a modest 1.1% rise in the March quarter and a 0.5% decline in the December quarter. The results are well back on the long-term national average of 6.3% year-on-year from 2017 to mid-2025 and behind Australia's 3% sales growth in the June quarter. Breathing some life nationally is a strong 4.4% sales rise over the month of June compared with the same month a year ago. Also bucking the overall national trend are agriculture sales, growing 10.9% year-on-year in the June quarter. This follows 11.1% growth in the March quarter and 14.9% in the December quarter, reversing 18 months of slow sales. Xero said industries more sensitive to discretionary spending and interest rates were facing tougher conditions with construction sales falling 6.4% in the June quarter — in a decline continuing since late 2023. Country manager Bridget Snelling said construction was concerning as it had a multiplier effect across the economy, from retail to manufacturing. Retail sales were unchanged in June compared with the same month a year ago, following four consecutive quarters of year-on-year declines. "While the pace of decline has eased in recent quarters, this moderation suggests only tentative signs of recovery," she said in a statement. Hospitality sales fell by 2.1% in the June quarter, marking the fifth straight quarter of backwards results for the sector. "These subdued sales figures highlight an ongoing challenge for Kiwi small businesses. Despite consistent OCR cuts by the Reserve Bank since August 2024, we're yet to see the expected boost to consumer and business activity. While there are some bright spots like agriculture, the overall picture remains muted." She said businesses were finding it difficult to plan because global economic uncertainty was adding to the pressure. This underlined the importance of staying on top of cash flow, getting paid promptly, and keeping a close eye on costs, she said.
