Weekly Digest – 9 November 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Government appoints Adrian Orr for second term as RBNZ governor

The board voted unanimously to recommend Adrian Orr for a second 5-year term as governor of the Reserve Bank of New Zealand.

Jacinda Ardern calls on banks to question their “social licence”

As the cost of living crisis bites for individuals and businesses, the prime minister is asking banks, which are making record profits in the billions of dollars, to assess their “social licence to operate”.

Taranaki property booming due to remote work trend

Due to the pandemic, many people realised that they no longer needed to be located in large urban areas. The ability to work from anywhere means that Taranaki property prices are up over last year while those in the rest of the country are in a slump.

Climate change framed as emergency at COP27

The COP27 climate summit got underway this week in Egypt. Leaders from all over the world are meeting for two weeks to discuss how to avert the worst effects of climate change. The head of the United Nations declared that the lack of progress so far had the world speeding down a “highway to hell”.

Sweeping changes continue at Twitter

With Elon Musk’s takeover of the social media giant complete, big changes have been in the news all week. From job cuts to privatising the company, the transition is shaking things up.

Some employees being asked back to Twitter after being let go

In a surprising turn of events, there are reports of some employees who were fired from Twitter being invited back. It’s unclear how their wages or benefits were affected by the rapid firing and rehiring.

Meta prepares for mass layoffs

To address growing losses and to manage heavy development costs for its metaverse business, Facebook’s parent company is reportedly planning to lay off thousands of workers this week.

Air NZ aims for a zero emissions aircraft in 2026

An accelerator programme called Mission Next Generation Aircraft has been launched by Air New Zealand with the aim of flying its first commercial demonstrator flight starting in 2026.

US Federal Reserve seizes US$3.36 billion in bitcoin stolen a decade ago

The Federal Reserve announced this week that it has recovered US$3.36 billion worth of bitcoin stolen from the now-defunct illegal Silk Road marketplace in 2013 – the second-largest crypto recovery ever.

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