Cashless society prompts new smartpay app

A new smartpay app could make it easier for small businesses to collect payment from customers without having to set up a till.

The New Zealand-based company which designed the app says it is vital in an increasingly cashless society.

"We call it till-to-go," Smartpay chief executive Bradley Gerdis says.

"It's a free cash register app that anyone can download and use on an iPad instead of buying a large expensive cash register system."

And Mr Gerdis says the app is easy to use.

Smartpay is a till-to-go cash register app that anyone can download. Source: 1 NEWS



Two investors, including former Fonterra executive, join Kiwi company boosting nutrition in food for elderly

Two new investors, including a former Fonterra executive, have joined a Kiwi company aiming to boost nutrition in food for the elderly.

The Pure Food Co has welcomed John Penno, the founder of dairy processing company Synlait, and Maury Leyland Penno, who worked at the dairy giant Fonterra.

Mr Penno will join as the chair of Board of Directors, while Ms Leyland Penno will be a key advisor.

The Pure Food Co was co-founded by Sam Bridgewater and Maia Royal in 2013 after Mr Bridgewater watched his stepfather struggle with an illness making it impossible for him to eat.

Products from The Pure Food Co
Products from The Pure Food Co Source: 1 NEWS

Mr Royal says the company is "thrilled to have John and Maury on board".

"Their investment, expertise and knowledge of the primary sector and high value nutrition is unparalleled and will enable us to expand our business offering in both New Zealand and overseas, which will improve quality of life for our consumers," he said.

Mr Penno said the pair "share Sam and Maia's vision of enhancing the quality of life of people by providing the best quality NZ food that is highly nutritious".

"Having worked in the primary sector where we’ve been adding the value of nutrition to good food already, we see huge potential in providing highly nutritious food for vulnerable consumers, especially the older population."

Ms Leyland Penno said, "We're excited to come on board at such a pivotal time to join this innovative company meeting such an important societal need".

The Pure Food Co supplies food to over 75 per cent of hospitals, eight of the largest aged care networks and the two largest food service companies in the country.

Sam Bridgewater, Maury Leyland Penno, John Penno and Maia Royal of The Pure Food Co
Sam Bridgewater, Maury Leyland Penno, John Penno and Maia Royal of The Pure Food Co Source: The Pure Food Co


Elon Musk taunts government agency that accused him of duping investors

Tesla CEO Elon Musk is apparently taunting the government agency that accused him of duping investors just days after negotiating a settlement to keep his job.

Musk jabbed the Securities and Exchange Commission on his Twitter account, the same agency that went after him for an August 7 tweet in which he declared he had secured financing for a Tesla buyout.

The SEC alleged that Musk hadn't locked up the estimated $25 billion to $50 billion that it would have required to pull off that deal.

In a Thursday tweet, Musk praised the "Shortseller Enrichment Commission" for "doing incredible work."

Musk has long feuded with short sellers, a category of investors that have been betting on Tesla's stock to fall.

Tesla shares declined 2 percent in extended trading after Musk's tweet.

speaks onstage at Elon Musk Answers Your Questions! during SXSW at ACL Live on March 11, 2018 in Austin, Texas.
Tesla CEO Elon Musk. Source: Associated Press



Biofuel made from industrial waste gasses used for first time on commercial flight

Sir Richard Branson has welcomed the first commercial flight powered partly by a new form of biofuel converted from alcohol.

Virgin Atlantic's Boeing 747 aircraft landed at London Gatwick with a fuel blend containing 5.0 per cent biofuel made from industrial waste gases converted into ethanol.

Sir Richard, the airline's founder, guided the aircraft towards a stand after it touched down on Wednesday.

The billioniare told reporters it was "a historic day".

"The fuel is cleaner than normal jet aviation fuel," he said.

"From the globe's point of view, if all fuel could be recycled fuel it would make a massive difference from a climate change point of view."

The biofuel, produced by start-up firm LanzaTech, is certified to make up as much as 50 per cent of a plane's total fuel supply.

The "sustainable" fuel delivers a reduction in greenhouse gas emissions of "at least 65 per cent" compared with conventional petroleum fuel, according to LanzaTech.

Virgin Atlantic chief executive Craig Kreeger urged the Government to take the "critical next steps" of approving a change in legislation to allow such companies using carbon capture technology to be eligible for financial incentives, and to support investment in the first plants to produce the fuel.

LanzaTech is aiming to open three UK plants by 2025, producing enough fuel to fly all Virgin Atlantic's UK outbound flights in a 50/50 mix.

LanzaTech chief executive Jennifer Holmgren said: "We have shown that recycling waste carbon emissions into jet fuel is not impossible, that waste carbon needs to be thought as an opportunity not a liability, that carbon can be reused over and over again."

Melbourne, Australia - April 26, 2016: View of Virgin aircraft approaching to landing at Melbourne Airport during daytime. Virgin Atlantic is a British airline with its headquarters in the United Kingdom.
Virgin Australia plane (file picture). Source:

Westpac posts eye-watering NZ$4.55b profit, up 5.8%

Westpac has lifted first-half profit 5.8 per cent to NZ$4.55 billion (A$4.25b).

Westpac bank Source: 1 NEWS

Cash profit for the six months to March 31 was up from A$4.02 billion in the prior corresponding period, with consumer and business banking driving the increase.

Australian mortgage lending was up 5.6 per cent on the same time a year earlier and the lender says the quality of its loan book - which has been queried by analysts - remains "fundamentally sound".