Latest news with #Simpson
NZ Herald
2 days ago
- Business
- NZ Herald
ASB joins ANZ in declining legal settlement proposal, as Winston Peters comes in to bat for them
On Wednesday, journalists received an email from the lawyers representing ANZ and ASB customers, detailing their proposed settlement. The email came through as the funders of the class action were making their case to parliamentarians for why they opposed the law change. Having worked on the class action for four years, they argued it was unfair for the Government to change the rules of the game now - after it had been lobbied by the banks. The retrospective law change could reduce the damages the customers, their lawyers and funders stand to receive from the legal action. ANZ responded straight after the lawyers made their settlement offer public on Wednesday, calling it a 'stunt intended to influence members of Parliament'. 'The litigation funders are worried that MPs have seen through their attempts to exploit a poorly drafted provision in the CCCFA and are desperate to shut down the strong public interest arguments in favour of the amendment,' ANZ said. It said its disclosure error had seen it undercharge customers an average of $2 a month over 12 months. 'There is no consumer harm. ANZ wrote off the amount it was owed and therefore put customers in a better position than had the issue never happened,' ANZ said. 'The proposed settlement appears to be primarily driven by the financial interests of the litigation funders and the proposed resolution does not reflect the nature or scale of the underlying issue.' The litigation funders, LPF Group, will take a cut of between 13% and 25% of the settlement. Peters says litigation funders stand to make 'windfall gains' On Wednesday the Herald reported that New Zealand First deputy leader Shane Jones expressed concern over the retrospective element of the proposed law change, saying his party would take advice before deciding whether to support the bill being passed into law in its current state. However on Thursday, the party's leader Winston Peters defended Commerce and Consumer Minister Scott Simpson during question time in Parliament, saying the 2015 legislation was 'badly drafted' and litigation funders stood to make 'windfall gains' if the law wasn't changed. Act leader David Seymour told the Herald his party supported the bill because it is a part of the Coalition Government. However, he had written to Simpson asking how to respond to constituents concerned about the bill applying to the past. 'Who knows, maybe Scott will change his mind in response to this,' Seymour said. Labour MP Arena Williams took aim at Simpson during question time on Thursday for getting a key detail of the proposed law change wrong during an interview on Newstalk ZB, and incorrectly saying the Government hadn't been lobbied by the banks on the matter. She echoed an allegation made by the litigation funders that Simpson wasn't across the detail when he took the proposed law change to Cabinet, as he had only just been appointed Commerce and Consumer Affairs Minister following Andrew Bayly's resignation. ASB and ANZ CEOs to be questioned by politicians Coming back to ASB, it questioned the math behind the proposed settlement, saying it provided 'no certainty to ASB or other banks which may become subject to similar class actions, or to the sector as a whole'. The customers' lawyers said $600m was equivalent to 3.5% of ANZ's profits between 2016 and 2019, and 5% of ASB's profits over this time. They proposed the banks pay the lesser of $600m and 68% of the borrowing costs customers paid through the duration of the banks' breaches. Under the existing law, the banks could be required to reimburse customers 100% of the borrowing costs they paid for the duration of the breaches. If the law is changed, judges will be empowered to use their discretion to issue fair penalties. The starting point won't be the reimbursement of all borrowing costs. Parliament's finance and expenditure committee is considering written and oral submissions from the public on the proposed law change. ANZ's chief executive and general counsel, and ASB's chief executive and board chair are among those who will present to the committee on Monday. The committee will also hear from various consumer groups and legal experts, among others. Jenée Tibshraeny is the Herald's Wellington business editor, based in the parliamentary press gallery. She specialises in government and Reserve Bank policymaking, economics and banking.
Global News
2 days ago
- Business
- Global News
Canada Post union head urges members to vote no to offer
Just three days before Canada Post's workers union will vote on the latest contract offer, the union president is urging members to reject the proposal. Jan Simpson, the Canadian Union of Postal Workers' president, in a letter posted Thursday told members 'we will not accept collective agreements that silence workers.' 'I know you are anxious about your future and frustrated about what feels like a never-ending round of bargaining, but now is not the time to give up and give in,' Simpson wrote. 'We cannot back down.' She went on to say a no vote would reject 'these bad offers,' but it would also protect the integrity of the bargaining process. The Crown corporation said earlier this week that it had set dates for the vote, beginning July 21 at 7 a.m. eastern daylight time and closing Aug. 1 at 5 p.m. Story continues below advertisement 0:44 Canada Post reaches deal with CPAA, its 2nd largest union CUPW, which represents more than 53,000 members, will be voting to ratify the deal tabled by Canada Post, which includes a wage increase, a signing bonus, maintaining a defined benefit pension and job security clauses, among other details. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy The corporation said on Wednesday that both it and the union were provided a notice of vote by the Canada Industrial Relations Board, which will also lead the vote. The vote comes after Minister of Jobs and Families Patty Hajdu asked the board in June to put the Crown corporation's latest offer to a vote. Simpson, in her letter, criticized the process, saying it's been 'plagued by chaos, confusion, and uncertainty' and that some members have informed the union they could not register their emails. 'The Union is seriously questioning the ability of the Board to conduct a legitimate vote,' Simpson wrote, saying the union is demanding that Hajdu and the CIRB explain measures being taken to ensure all eligible members can vote. Story continues below advertisement Canada Post and the CUPW have been engaged in a more than 18-month-long period of negotiations and subsequent strike activity, which the Crown corporation says has increased the company's financial losses at a rate of $10 million per day in June.
NZ Herald
2 days ago
- Business
- NZ Herald
On The Up: Northland sites praised for beauty, warmth, weekend appeal
In May, WorldAtlas picked Kerikeri as the top place to retire in New Zealand, while Russell, Kerikeri and Paihia were all named in a June article listing the 12 New Zealand small towns with 'unmatched friendliness'. According to the site, WorldAtlas has been running for more than 30 years by Canadian-based company Reunion Technology. Replica tall ship R Tucker Thompson is a proud part of the cultural heritage that makes Russell a beautiful and great place to visit, chief executive Catherine Langford said. 'Russell is like stepping back in time and I think that's the magic. With the street being closed [to cars] it enhances the feeling, where you feel like you're transported.' For weekend getaways, the R Tucker Thompson offers two sails from Russell Wharf: a day sail where people can experience the nearby islands and a two-hour sundown sail. Both give visitors a hands-on history lesson about the area, rather than just admiring its beauty, Langford said. Tall ship R Tucker Thompson is a proud part of Russell's cultural heritage, chief executive Catherine Langford says. Photo / Dean Wright Kerikeri's friendliness suits retirees, younger locals and visitors In Kerikeri, locals are quick to acknowledge the warm, welcoming atmosphere which makes the town friendly to visit and great to retire in. Delwyn Simpson, from Maccabee's Far North Honey and the Bay of Islands Farmers' Market committee, said the Sunday markets in Kerikeri help add to the atmosphere, creating a place where conversations flow easily. 'There's a genuine 'small town' feel where everyone says hello and takes time to chat, creating that laid-back, friendly vibe Kerikeri is known for... 'In essence: the market gives Kerikeri soul. It brings people together, celebrates what's unique about the region, and leaves a lasting impression of warmth, creativity and connection.' The Bay of Islands Farmers' Market, in Kerikeri on Sundays, has been running for more than 20 years and adds to the friendliness and liveability of the town. Simpson said Kerikeri is well-known as a great place to retire for those seeking an outdoor-focused lifestyle, with its subtropical climate and nearby orchards, beaches, waterfalls and golf courses. 'If you appreciate small-town charm, self-sufficiency and outdoor living, Kerikeri certainly lives up to its reputation as a top retirement spot in Aotearoa.' However, Simpson noted Kerikeri may not suit all retirees, particularly those who prioritise access to large hospitals, urban amenities or quick city connections. Hilary Sumpter, chief executive of Kerikeri Retirement Village, said Kerikeri has a 'massive amount going for it' including a liveable, community-focused feel. 'The same factors that make it New Zealand's preferred place to retire make it a magnet for professionals and young families looking to escape the rat-race,' she said. Kerikeri's Stone Store and Kemp House are part of the town's beauty which attracts many. Photo / NZME This is why the village, and other parts of the community, fight so fiercely to retain Kerikeri's special nature, including advocating for a fully consulted-on spatial plan, Sumpter said. Beauty Bay of Islands, deputy mayor says Far North District Council deputy mayor Kelly Stratford agrees Russell's main street is pretty, especially in summer when the pōhutukawa are in full bloom. The Russell community did a good job of placemaking, including a trial to stop traffic along The Strand, she said. While the car ban still needs the council's final sign-off, the plan has grown on those who were initially against it, Stratford said. A trial to ban cars from Russell's The Strand has helped win over those who were initially against it, Far North deputy mayor Kelly Stratford says. Photo / NZME Kerikeri also is well deserving of the reputation as a great place to retire, with its flat walking, connectivity and beauty, she said. Paihia is what some would call the economic jewel in the Bay of Islands, offering tourists great entertainment and accommodation options, she said. But Stratford said if people are coming to the Far North to visit the Bay of Islands, they should also give themselves a few more days to visit the rest of the district. Each place in the Far North has its own attraction: Kawakawa has its gold-ranked vintage railway and 'fancy' Hundertwasser toilets, Kaikohe is a proud service centre, Hokianga has untouched beauty, and Kaitāia offers a gateway to the east and west coasts, she said. Each of the communities is driven by passionate locals who really 'make' each place, Stratford said. Denise Piper is a news reporter for the Northern Advocate, focusing on health and business. She has more than 20 years in journalism and is passionate about covering stories that make a difference.
Otago Daily Times
3 days ago
- General
- Otago Daily Times
Historic building given new life
A small wooden church built in 1870 with hopes of serving a booming port town has found new life in the 21st century thanks to the dedicated efforts of two passionate owners. The former Kakanui Presbyterian church, a modest Carpenter Gothic building designed by renowned Scottish-born Dunedin architect Robert Arthur Lawson, has undergone a significant transformation in recent years. Once the spiritual heart of Kakanui, the timber church had weathered decades of change before its final service in November 2019. Designed to seat 100 worshippers, the church was constructed in just three months during a period of ambitious development. Hopes were high that the newly built port would turn the coastal settlement into a major export hub. While those dreams faded, the church remained a part of the community's life for nearly 150 years. When Michael Simpson and Anna Miles first saw the church listed for sale, it was the building's historical and architectural significance that drew them in. "We like that it's Robert Lawson's smallest, most modest surviving building," Mr Simpson said. Mr Simpson, a carpenter with heritage expertise, and Ms Miles, equally hands-on, saw the church as more than just a building. "We never had a particular plan except to restore it. There was no timeframe, no budget — and that's why it's been such a pleasure," Mr Simpson said. Since buying the property in 2019, the couple have steadily restored the structure, replacing sub-floor bearing joists, corner studs and weatherboards, improving drainage, restoring windows and repainting the interior. Their restoration has extended to the church's outbuildings — including the bible class hall added in 1933, two small buildings acquired in 1955 for the growing Sunday School and even a Brownies den. Ms Miles said the emotional connections uncovered during the restoration had made the project even more meaningful. "The more we've got to know the building, the more we've realised it's a special space that means a lot to a lot of other people. "We see ourselves as stewards of the building." Keeping the church's doors open has become part of the couple's philosophy. Visitors frequently drop in to share stories and memories or simply admire the restored space. Since 2019, the church has hosted weddings, musical performances, art exhibitions and carol services. Mr Simpson said it did not need to be a commercial space. "But we've realised it should have a life of its own and a reason to exist. We get quite emotional seeing all the life in the building." Now a listed category 1 historic place with Heritage New Zealand Pouhere Taonga, the church has received official recognition of its architectural and social significance. — APL
Otago Daily Times
3 days ago
- General
- Otago Daily Times
Historic building given new life Historic building given new life
A small wooden church built in 1870 with hopes of serving a booming port town has found new life in the 21st century thanks to the dedicated efforts of two passionate owners. The former Kakanui Presbyterian church, a modest Carpenter Gothic building designed by renowned Scottish-born Dunedin architect Robert Arthur Lawson, has undergone a significant transformation in recent years. Once the spiritual heart of Kakanui, the timber church had weathered decades of change before its final service in November 2019. Designed to seat 100 worshippers, the church was constructed in just three months during a period of ambitious development. Hopes were high that the newly built port would turn the coastal settlement into a major export hub. While those dreams faded, the church remained a part of the community's life for nearly 150 years. When Michael Simpson and Anna Miles first saw the church listed for sale, it was the building's historical and architectural significance that drew them in. "We like that it's Robert Lawson's smallest, most modest surviving building," Mr Simpson said. Mr Simpson, a carpenter with heritage expertise, and Ms Miles, equally hands-on, saw the church as more than just a building. "We never had a particular plan except to restore it. There was no timeframe, no budget — and that's why it's been such a pleasure," Mr Simpson said. Since buying the property in 2019, the couple have steadily restored the structure, replacing sub-floor bearing joists, corner studs and weatherboards, improving drainage, restoring windows and repainting the interior. Their restoration has extended to the church's outbuildings — including the bible class hall added in 1933, two small buildings acquired in 1955 for the growing Sunday School and even a Brownies den. Ms Miles said the emotional connections uncovered during the restoration had made the project even more meaningful. "The more we've got to know the building, the more we've realised it's a special space that means a lot to a lot of other people. "We see ourselves as stewards of the building." Keeping the church's doors open has become part of the couple's philosophy. Visitors frequently drop in to share stories and memories or simply admire the restored space. Since 2019, the church has hosted weddings, musical performances, art exhibitions and carol services. Mr Simpson said it did not need to be a commercial space. "But we've realised it should have a life of its own and a reason to exist. We get quite emotional seeing all the life in the building." Now a listed category 1 historic place with Heritage New Zealand Pouhere Taonga, the church has received official recognition of its architectural and social significance. — APL
