Bolt launches new Family Profile feature in New Zealand
European ride-hailing firm Bolt is launching in NZ " to shake up what has long been a duopoly in the New Zealand market, dominated by Uber". Bolt's NZ country manager Adam Muirson. 27 May 2025 New Zealand Herald photograph by Dean Purcell
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NZ Herald
2 hours ago
- NZ Herald
Round three - United States and China hold economic talks as trade truce nears end
The Trump Administration has been trying to win concessions from many countries before an August 1 deadline for reimposing tariffs announced in April. Those levies were suspended in order to reach trade deals. Over the last week, the Trump Administration has announced deals with some of America's biggest trading partners in quick succession. Last week the US and Japan finally agreed to a deal that included a 15% tariff on Japanese imports and a pledge from Japan to invest US$550 billion in the US. Today, Trump announced that he had also reached a deal with the European Union, whose economies rely on exports to the US. The deal would put a 15% tariff on many European exports, including cars. One of the biggest unknowns is what will happen with China, which remains one of America's largest source of imports. After a tit-for-tat period of tariffs and retaliation, the two nations have come to something of an uneasy truce after talks in Geneva in May, and in London in June. Today, before he met with European officials, Trump implied that some kind of trade arrangement with China might be close at hand. 'We just struck a deal with Japan as you know, and we're very close to a deal with China,' he said. This will be the first meeting between the countries without an imminent crisis, like the tariff standoff or China's economically crippling ban on rare earth exports this year. Trade experts said the list of potential topics for discussion was long, ranging from Trump's push to get China to stop the flow of fentanyl to the US, to America's concerns about its purchases of Russian and Iranian oil, and recent exit bans that have prevented US citizens from leaving China. US officials appear to be looking forward to more ambitious trade talks in the months to come. Those could include Chinese purchases of American products, steps to open the Chinese market and, potentially, Chinese investment in the US. They are also likely seeking to lay the groundwork for a potential meeting between Trump and Xi Jinping, the Chinese leader, this year. Administration officials are considering a trip to Beijing before a meeting of Asian and Pacific countries in South Korea in October or potentially connecting Trump and Xi on the sidelines of an international meeting. Michael Pillsbury, a former government official who has advised the Trump Administration on China, said this would be Trump's sixth summit meeting with Xi. Each of those summits had a minimum of two hours of dialogue, and Trump went prepared with specific dealmaking requests, he said. 'The President feels it's better to deal face to face,' he said. Trade experts are also wondering whether US technology controls or an agreement to transfer ownership of TikTok may be on the negotiating table. On CNBC last week, Howard Lutnick, the Secretary of Commerce, said that the US had submitted a proposal to China for transferring ownership of TikTok to American companies, and that the Administration was waiting for the Chinese response. The topic was 'not officially' part of the trade talks, he said, 'but unofficially, of course'. Tensions between the US and China started to spiral after Trump announced his 'Liberation Day' tariffs in early April. China was the only country to immediately retaliate, matching Trump's tariffs of 34% with 34% tariffs on American products. Beijing also set up a licensing system to restrict exports of seven rare earth elements that are processed almost exclusively in China and used in electric cars, smart bombs and other high-tech devices. Trump then responded by ratcheting up tariffs on Chinese products to a minimum of 145%, which brought much of the trade between the countries to a halt. The previous rounds of negotiations secured a temporary truce that included China's relaxing its restrictions on shipments of valuable rare earth minerals and magnets needed by US manufacturers. In return, US officials agreed to roll back limits on exports of US products and technology, including ethane and airplane parts, as well as the proposed visa restrictions. US tariffs on Chinese imports were scaled back to 30%, while China has 10% tariffs on American products. The truce is scheduled to expire on August 12, after which tariffs would rise by 10%. However, Bessent has been optimistic that the truce could be extended. In an interview on the Fox Business Network last week, Bessent said that 'trade is in a good place' with China. He added that he hoped to begin having broader discussions with his counterparts about rebalancing the Chinese economy and encouraging China to curb purchases of Russian and Iranian oil. Bessent said China was in a manufacturing slump and faced a residential real estate market crisis. He argued Beijing must focus on building a consumer economy. 'They can't export their economic problems to the rest of the world; they need to solve them,' Bessent said. US companies continue to have a rash of criticisms about doing business in China, including the country's newly established rare earth licensing system. The processing time for licences is long, American firms say, and China requests proprietary and sensitive business information as part of the applications. In a survey released this month, members of the US-China Business Council said strained relations and tariffs between the two countries remained their biggest concerns. But they also said Chinese policies favouring domestic companies were eroding confidence in doing business in the country. This article originally appeared in The New York Times. Written by: Alan Rappeport and Ana Swanson ©2025 THE NEW YORK TIMES
NZ Herald
9 hours ago
- NZ Herald
Uber seeks drivers for Gisborne launch as rideshare service expands
'We believe Uber can play a positive role in Gisborne by improving local mobility with a new way to travel from A to B and creating new earning opportunities for those who want to work more flexibly,' Local bar owners who spoke to the Gisborne Herald were positive about getting the service. Kerry Donovan, managing director of Smash Palace Bar, said any ride service that improves choice and safety would be welcomed. Photo / Uber 'Affordable and reliable transport has long been an issue for Smash,' said Kerry Donovan, managing director of Smash Palace Bar in Banks St, in the industrial subdivision. 'We're acutely aware that our location can make it difficult for our customers to get to and from the bar safely. So, ensuring our customers have a safe way home is a key consideration when we plan events and in our daily host responsibility duties,' Donovan said. 'Local taxi companies are fantastic but seem stretched some nights, so any service that improves choice and safety will be warmly welcomed.' The Dome Bar and Cinema's Sally Shanks had similar sentiments. 'It would be incredible,' Shanks said. 'One of our biggest issues is getting people home. We call taxis for people, but they're few and far between ... you run the risk of people just becoming very frustrated and then driving home, so it's definitely a win-win for us. It would help us enormously.' Hayden Green, general manager of regional economic development agency Trust Tairāwhiti, said it was 'positive news for the region'. 'A reliable and convenient rideshare option will encourage more people to enjoy Gisborne's nightlife, knowing they have safe and accessible transport available,' Green said. 'This will complement existing taxi services and support local businesses and employment options. 'As Tairāwhiti continues to grow as a visitor destination and a vibrant place to live, introducing an app-based, on-demand transport option will help fill gaps in the region's transport network.' Gisborne Taxis Society Ltd manager Rikelle Smith had a mixed response. 'It's a good thing that Uber is coming to town, especially for those who are often left waiting in town for long periods on Thursday, Friday, and Saturday nights,' Smith said. 'I'm pleased that more people will now be able to get home safely and without the long wait. That said, Gisborne Taxis has been in operation for over 70 years - this is our bread and butter, and Uber's arrival will have a real impact on us. We're not happy about that. 'However, Gisborne Taxis will continue to be here for our community 24/7 - even though, like many services, we sometimes face challenges with car availability on busy nights.' Chris Lankshear, of Gisborne Airport and City Taxis, said he had recently heard that a population of around 70,000 was needed to sustain Uber. He said it might not be easy to recruit drivers who had P-licences to carry passengers, and the cost to get this licence was likely to be a drawback. 'There's probably a need for it Friday-Saturday nights, but it's sporadic at the best of times, with people wanting to get to the clubs and so forth and then just wanting to get home,' Lankshear said. 'That's your big demand periods, and the rest is average. Certainly, I can't see it.' EcoKabs spokesman Jack Savage also had mixed views. 'In terms of EcoKabs being fully 100% community-based, Uber would be a great asset to Gisborne only in the peak hours of 11pm to 3am on Friday and Saturday nights,' Savage said. 'Gisborne has been notorious for not being able to get taxis inside this window for a very long time. This is why EcoKabs Gisborne is increasing its fleet to six cabs. 'EcoKabs tries to keep our wait times in and around the 20-minute mark, but obviously, in the peak times, we can be quite stretched. It is important for us to ensure that our community gets home safely, so in that sense, Uber may be an asset. 'In terms of sustainability, there is a very fine balance to ensuring that we achieve this, given our population of around 51,000. Every service provider here in Gisborne requires sustainability seven days per week and not just in the peak times, so in that sense, trying to get a business model to be sustainable in our region in our economic climate is going to be really tough. 'Out-of-town taxi companies have not done themselves any favours with the locals here in Gisborne around the R and V [Rhythm and Vines New Year festival] period. They have come into our region and blatantly ripped off our local communities, so that is going to be a challenge for them to be accepted by our community.' Chris Lankshear, of Gisborne Airport and City Taxis, was unsure if Gisborne's population could sustain a service like Uber. Photo / Uber The Gisborne Herald asked AA New Zealand what impact the app's launch could potentially have on reducing drink-driving. 'There are many factors that influence drink driving beyond whether Uber is available or not, but more transport options are always a good thing,' AA Hawke's Bay District Council chairman David Murray said. 'We hope that people in Gisborne choose to use this service or a taxi if they've been drinking and haven't already lined up a sober driver to get them home. 'Uber has provided a valuable alternative transport option in Hawke's Bay for some time now, and it's particularly useful during the outdoor summer event season, which both Hawke's Bay and Gisborne are renowned for,' he said.
NZ Herald
9 hours ago
- NZ Herald
Bolt launches new Family Profile feature in New Zealand
Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech. European ride-hailing firm Bolt is launching in NZ " to shake up what has long been a duopoly in the New Zealand market, dominated by Uber". Bolt's NZ country manager Adam Muirson. 27 May 2025 New Zealand Herald photograph by Dean Purcell
