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News of Zealand

News of Zealand: Tradies Wealthier Than Grads, Suggests Study

New research shows education may not be the best path to riches, as long as you're a smart investor. Plus the supermoon and a record rainbow.
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Everything you need to know today, curated by 95bFM and VICE NZ.

LOCAL NEWS

Do University Graduates Really Earn More Than Apprentices?
New research is questioning the belief that graduates earn more than apprentices. The study by Business and Economic Research looks at participants' whole career. It found apprentices of levels four, five and six could overall be financially better off than university graduates, due to starting work and contributing to their Kiwisaver earlier, and not having a large student loan. 95bFM spoke to executive director of Universities NZ Chris Whelan, who said the results were misleading, and that tradespeople would need to save and invest a lot to make up for their lower income. “Saying that trades people are going to somehow earn more over their working life than university graduates, the word they should put in front of that is ‘could’ earn more. If they live incredibly frugally, save everything they can, try and buy a house soon as possible, opt into Kiwisaver and pretty much change nothing else whatsoever” Whelan added that there should be more and more jobs requiring a degree in the near future, and said he was not afraid this study will lead to fewer tertiary enrolments.

Two Hectares of Land On a Taranaki Landmark Up For Sale
The sale of a landmark in Taranaki has sparked upset amongst local Māori. A section of Blagdon Hill, owned by telecommunications company Chorus, has been put on the market without consultation with local iwi who were unaware of the sale. The land was inherited by Chorus from various other companies dating back to the 1930s when the Public Works Act was first implemented. Local iwi member, Dennis Ngawhare said "Generally at that time Māori land was considered as open slather for development," and that he'd like to see the land turned into a reserve, as numerous archaeological sites have been found on the hill.

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The Bright Thing in The Sky
Last night gifted us the brightest supermoon in 70 years. The moon was at its closest point to earth last night, making it appear around 14 percent larger and 30 per cent brighter than usual. If you happened to miss it, the next supermoon is expected on January 2. Extreme low tides mean ferries have been cancelled due to shallow waters at Half Moon Bay.

‘Work for Dole Schemes’ a Good Way to Tackle Unemployment?
Cabinet will soon consider four work-for-the-dole schemes proposed by Regional Economic Development Minister Shane Jones. The schemes aim to get unemployed people back into the workforce and working for a legal wage. 95bFM News spoke with Auckland Action Against Poverty spokesperson Vanessa Cole, who says work-for-dole schemes do not properly address unemployment. “People need to have adequate wages and they need to have security in employment and they need to do employment that actually is for them. Instead, people are just being pushed into these minimum wage jobs that are very insecure.” The government does not appear to be opposed to Jones' proposal which will be looked at before Christmas. Prime Minister Jacinda Ardern has said the schemes are different to previous work-for-the-dole projects because participants will earn at least minimum wage rather than the benefit rate for their work.

INTERNATIONAL NEWS

Brexit Deal Negotiations Still Ongoing
Brexit negotiations on Monday were not successful despite confident beginnings from the British PM Theresa May and EU commission president Jean Claude Juncker. One of the main causes of this is reported to be that the Democratic Unionists of Northern Ireland have voted the decisions of the negotiators around the Irish border. The deal would have meant that there would be no return to a hard border between Northern Ireland and the republic, though this would not have been concrete. Juncker says "It was not possible to reach complete agreement today", adding "We have common understanding on most issues. Just two or three are open for discussion".

Chinese ‘Obedience School’ Shut Down
Chinese authorities have closed an institute that was found to be teaching women to be obedient and subordinate to men. The education bureau said the Fushun School of Traditional Culture, which claimed it taught traditional virtues, had violated socialist core values. A recent online video showed lecturers speaking out against gender equality, while other advice to women included not fighting back when being beaten. China has seen a rise in similar institutes in recent years.

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Former Vice President of Catalonia Looks to Protest Regional Election Results
Oriol Junqueras, the former Catalan vice-president is threatening to contest the results of regional elections later this month from his prison cell. Junqueras is currently being denied bail by Spain's supreme court due to suspicion that his recent pledge to abide by Spanish law is untruthful. Carles Puigdemont, the former Catalan president remains on the run in Belgium. Belgium's parliament is considering issuing a European arrest warrant for Puigdemont. Puigdemont's lawyer denies this is possible on the grounds that Spanish law trespasses cannot be punished in Belgium. Both Puigdemont and Junqueras are wanted for misuse of public funds, sedition and rebellion as a result of their illegal Catalan independence referendum. Junqueras is claiming that "It is hard to believe that Spain’s Conservative People’s Party government will actually respect the result of these elections".

10 Suspects Arrested following Death of Anti-Corruption Journalist
Ten people have been arrested following the death of anti-corruption Journalist, Daphne Galizia, who was looking into shady business dealings and organised crime in Malta. The Suspects were taken into custody two months following the explosion. They now face 48 hours of interrogation before they are either charged or released. The most significant reporting by Galizia before her death were her investigations into the controversial Panama Papers. Galizia's family has alleged that her murder was a "targeted killing". Her work was focused on uncovering corruption, criminality and conflicts of interest by politicians and their associates. Italian Prosecutor Carmelo Zuccaro believes this links into a fuel-smuggling operation with ties to Libya, Malta and Italy. Malta's Government is currently offering a 1 million reward for any information related to Galizia's death.

Baby Falsely Pronounced Dead
A hospital in the Indian capital of Delhi has fired two doctors for mistakenly declaring a newborn baby dead. The doctors at the privately run Max Hospital had pronounced the baby dead hours after his twin who was stillborn on November 30. The parents found that the baby was alive while they were on their way to his funeral. According to the twins' grandfather, the stunned family rushed the newborn to a nearby hospital where they were told that their baby was still alive. The incident sparked outrage and a debate over the quality of private healthcare in India, which is often costly.

UK and EU Announce Bitcoin Regulations
The EU and UK have announced their intention to introduce regulations for the digital currency Bitcoin. Bitcoin had reached a new record of US$11,800 over the weekend which fell to US$10,554 after the regulations were announced. The regulations will mean that digital currencies will have to report suspicious activity and carry out due diligence on customers. The change is being implemented due to suspicious of theft, money laundering, drug dealing, terrorism and tax evasion. It will also mean the end of trader anonymity which has been a catalyst for illegal activity. Stephen Barclay, the economic secretary to the Treasury in the UK, says the regulations "will result in these firms’ activities being overseen by national competent authorities". He adds that these negotiations should be completed by "late 2017 or early 2018".

World Record Rainbow
The world record for the longest standing rainbow has been shattered in the Chinese Taipei mountains, where a rainbow lasted for eight hours and 58 minutes last week. The previous record was back in 1994 in Yorkshire England, when a rainbow stayed in the sky for six hours. A seasonal north-east monsoon that trapped moisture in the air, forming clouds; sunlight and a slow wind was the key reason for the long lasting Rainbow.

Reporting by Leonard Powell, Grace Watson and Ollie Powell.