Kai's Education hires US growth officer after $2.3m capital raise
Fuller will oversee global sales, partnerships and market expansion strategies to scale
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1News
15-06-2025
- 1News
Ruth Richardson calls for super age hike, warns of fiscal 'crisis'
Former finance minister Ruth Richardson has called for an increase in the retirement age, warning New Zealand faces a balance sheet crisis without urgent action. The newly appointed chairperson of the Taxpayers' Union, a right-wing political lobby group, told Q+A that government debt needed addressing. "We need to control our spending appetite, we need to bring debt under control, and we need to restore New Zealand's books to a state of fiscal responsibility," Richardson said. "From a central government perspective, it's clear that we have a crisis, and the crisis is looming — as it is in many other countries in the West, we're not alone." The architect of the 1991 "Mother Of All Budgets" said the Government should follow her previous reforms that raised the superannuation eligibility age from 60 to 65. ADVERTISEMENT "On my watch, we increased the age of eligibility from 60 to 65, with near a mutter. It was done as part of a broader package of reforms to put New Zealand on a sounder footing, and we need to do the same again," she said. "We should have a superannuation age of eligibility, just like the electoral boundaries. You just adjust it for — in this case — the data that tells you about the age of longevity." Richardson, who became aligned with ACT after retiring from politics, criticised the coalition government for ultimately committing billions more in spending at Budget 2025. She said: "We're starting to swamp education spending, we're starting to swamp defence spending — that is not defensible. We need a credible deficit track. "At the moment, we've got fiction. What we want is fact, and fact is going to require some pretty hard decisions taken about the issues... starting with superannuation." Ruth Richardson (Source: Supplied) She also rejected the characterisation that the country had a lack of funding for infrastructure, saying instead that too much money was being spent on "vanity projects" at the local government level. ADVERTISEMENT Finance Minister Nicola Willis has previously rejected suggestions she had broken an election promise to return to surplus by 2027. It was despite Treasury forecasts now showing a return to surplus wouldn't occur until 2029 under the Government's preferred accounting measure known as OBEGALx. By the traditional measure, known as OBEGAL, New Zealand wasn't expected to return to surplus until the 2030s at the earliest. OBEGALx excluded the costs of ACC. Richardson also advocated for asset sales, suggesting the Government should sell state-owned enterprises, including power companies, Landcorp and commercial broadcaster TVNZ — which she said was "probably worth a dollar". Richardson steadfast on views nearly 35 years on Speaking on Q+A, Richardson, who was recently made a companion of the New Zealand Order of Merit in the King's Birthday Honours, defended her 1990s reforms after being presented with poverty statistics showing persistent increases following her Budget cuts. When presented with data showing child poverty rates grown significantly after her reforms and never ultimately corrected, Richardson defended herself, saying doing nothing in her time would have been "the most immoral option". ADVERTISEMENT "We took our courage in our hands and did the right thing, and the economy prospered. You're not putting up the stats that showed the rise in growth, the rise in employment, the halving of the debt and putting the books back into balance," she said. "If you were balanced, you'd be showing those statistics." She added: "The real poverty was New Zealand's if we had done nothing. If we had done nothing, then New Zealand would have most certainly faced the crisis that the Labour government did in the mid-'80s. And in a crisis, the people who are hurt most are the poorest people, the people on the bottom of the rung." For the full interview, watch the video above Q+A with Jack Tame is made with the support of New Zealand On Air
1News
15-06-2025
- 1News
AUKUS defence pact 'being reviewed' by US government
The US government is reportedly reviewing the AUKUS trilateral defence agreement between Australia, the UK and the US. The decision to conduct a review has been reported by multiple news outlets including Reuters, which cited US defence officials without giving further details. The review will reportedly examine whether the pact is in line with US President Donald Trump's 'America First' policy, according to the ABC which also cited a Pentagon source. AUKUS is a three-nation security alliance between Australia, the UK and the US agreed in 2021 under the prime ministership of ex-Liberal leader Scott Morrison. The morning's headlines in 90 seconds including passengers stuck on ferry overnight, new flights to Sydney coming, and the weirdest things we leave in Ubers. (Source: 1News) ADVERTISEMENT It was formed to counter China's strategic moves in the Pacific arena and was underpinned by an agreement between the US and the UK to provide Australia with access to nuclear-powered submarine technology, to eventually replace its aging Collins-class boats. The deal is worth hundreds of billions of dollars, although the first submarine is not expected to join the Australian fleet for years. Australia, which in February made the first of six $US500 million (about $830 million) payments to the US for the boats, is expected to initially buy between three and five off-the-shelf Virginia-class boats. At the time, US Defence Secretary Pete Hegseth said Trump was supportive of the AUKUS deal. President Donald Trump gestures after speaking at Fort Bragg. (Source: Associated Press) "The president is very aware, supportive of AUKUS," Hegseth said after a meeting with Australian Defence Minister Richard Marles. "(He) recognises the importance of the defence industrial base." ADVERTISEMENT Marles responded that the pair had discussed how the US and Australia could advance their longstanding diplomatic relationship in terms of national security, including AUKUS. Australia's military budget is expected to rise to 2.3% of gross domestic product, or output, by 2034. The US regime has already called for Australia to increase that spending to around 3.5%. Australia tore up its $97 billion diesel-powered submarine deal with France to sign on to AUKUS and is contracted to buy several off-the-shelf submarines costing about $US4 billion each, before making its own. The first Australian-made boats are not due to be operational until the 2040s.
NZ Autocar
30-05-2025
- NZ Autocar
Antonio Filosa from Jeep is the new Stellantis CEO
Stellantis has announced ex-Jeep CEO Antonio Filosa is its new CEO, replacing Carlos Tavares. Filosa will report to Stellantis chairman John Elkann. A new leadership team will be named shortly for the 14 brands under the Stellantis umbrella. Tavares was ousted from the CEO position following falling sales in the US. The company says Filosa was selected as Tavares's replacement based on his proven track record, and leadership skills. His global management experience was also taken into consideration. Filosa is Italian and joined Fiat in 1999. He eventually became COO of FCA Latin America. In 2021, he became COO for Stellantis South America and then global CEO of Jeep in late 2023. He oversaw the launch of the Jeep Avenger crossover. This EV has driven substantial growth for Jeep in Europe. Filosa also oversaw development of Recon and Wagoneer S. More recently, he launched the new-generation Jeep Compass which should boost Jeep sales globally. Moreover, he briefly held the post of COO for the Americas. There he drove a significant reduction in dealer stock, among other things. Of his new position, Filosa said: 'It is my great honour to be named the CEO of this fantastic company. I am grateful…for the confidence they have placed in me to lead our business during this pivotal time for our industry. 'I have always been inspired by the immense talent, passion and commitment of our people at Stellantis and the power of trusting our teams to achieve excellence. 'We have the world's best and most iconic brands in automotive history and an over 100-year heritage of innovation. 'That legacy, combined with our relentless dedication to giving our customers the products and services they love, will continue to be key to our success.' Elkann said: 'Antonio's deep understanding of our company…and of our industry equip him perfectly for the role of chief executive officer…' 'I have worked closely with Antonio over the past six months… and his strong and effective leadership…have confirmed the excellent qualities he brings to the role. 'Together with the entire board, I look forward to working with him.'
