Home

ANALYSIS: The media industry has been in limbo since an earlier funding agreement expired in March, but hopes Government threats can now break the deadlock.

Lachlan Colquhoun Wed, 18 Dec 2024

Margin Call

Australasian market risks and opportunities for 2025

ANALYSIS: As we head into 2025, here are some of the themes we believe will dominate the Australasian investment markets.

Chris Di Leva and Hamish Pepper Tue, 17 Dec 2024

Economy Matters

Youth bear brunt of softening labour market

ANALYSIS: And a quick review of New Zealand's economic performance over the past 12 months.

Christoph Schumacher Mon, 16 Dec 2024

Investment

Comvita downgrades profit guidance

Comvita has attributed a downgraded loss to aggressive competition and the associated gross margin pressure.

Kate McVicar Thu, 19 Dec 2024

ANZ’s Elliott forgoes A$3.2m as shareholders revolt

The wider remuneration report also received a ‘first strike’ at the bank’s annual meeting.

Lachlan Colquhoun Thu, 19 Dec 2024

Metroglass 8c offer in shareholders’ ‘best interests’ – Aussie PE

Crescent Capital Partners is offering just 8 cents per share for the company. Metro’s board turned down an offer for 18 cps in 2023.

Nicholas Pointon Tue, 17 Dec 2024

Economics

New Zealand economy in deep recession after shocker year

Although economists expect the worst is now over for the economy.

Jonathan Mitchell Thu, 19 Dec 2024

Surplus delayed by a year as economy hits government books

Forecast tax take is down as sluggish economy hits revenue.

Brent Edwards Tue, 17 Dec 2024

NZ economy in pain for longer, reaching ‘turning point’

Treasury update today paints more realistic outlook for economy after prolonged downturn.

Jonathan Mitchell Tue, 17 Dec 2024

Politics

‘We’re going to have another couple of bumpy years’ – TVNZ

The state broadcaster told a parliamentary select committee that it is looking to sublease floors in its Auckland offices.

Nicholas Pointon Wed, 18 Dec 2024

‘Never say never’: Kiwibank doesn't rule out rural tilt

Chief executive Steve Jurkovich asked why the bank doesn't currently chase agri lending.

Jonathan Mitchell Wed, 18 Dec 2024

On doorknobs and thermostats, Seymour says it's broken

A short term plus or minus temperature difference won’t do anyone any ‘immediate harm’, he says, during an ECE review.

NBR Staff Wed, 18 Dec 2024

Te Ao Māori

‘A Māori television station without a news service – it’s crazy’

As the Whakaata Māori television channel prepares its last nightly news bulletin, questions are being asked about how it has come to this.

Mike McRoberts Fri, 13 Dec 2024

The wero for Māori economic growth

As one navigates life after cutbacks, the other is desperate to grow – what we learned from the Māori Affairs Committee scrutiny hearings about Te Arawhiti and Tupu Tonu.

Mike McRoberts Thu, 05 Dec 2024

No need for rushed MACA law change – former Attorney-General

Chris Finlayson KC says today’s Supreme Court ruling on the Marine and Coastal Area Act means there’s no need for the Government to be hurrying through law changes.

Mike McRoberts Mon, 02 Dec 2024

Infrastructure

Environment Court signs off Tauranga port extension, with hooks

The country’s largest port says it might bank on fast-track legislation after a dragged-out, five-year consenting and Environment Court process.

Brent Melville Tue, 17 Dec 2024

Watercare pulls plug on new housing across 21 suburbs

Developers claim a ‘disconnect’ between the city’s overcapacity water providers and council consenting office.

Brent Melville Thu, 12 Dec 2024

Eastland twin berth project gets green light

The project, which will substantially upgrade berth capacity, has taken 10 years to get over the line.

NBR Staff Thu, 12 Dec 2024

Australia

Aussie government budget set for blowout, despite higher revenues

Government spending has spiked, with an election due next year.

Lachlan Colquhoun Wed, 18 Dec 2024

Qantas settles with sacked workers for A$120m

Qantas still faces legal penalties over the case, and the likelihood of paying the union's costs

Lachlan Colquhoun Wed, 18 Dec 2024

HSBC sued in Australia over A$23m scam losses

One customer waited for 18 months for their account to be fully restored, says Australia's market regulator.

Lachlan Colquhoun Mon, 16 Dec 2024

Tech & Innovation

Cleantech startup Aspiring Materials gains backing from Elemental

The non-profit US investor has invested an initial US$350,000 with the prospect of further backing as Aspiring hits commercial milestones.

Fiona Rotherham Thu, 19 Dec 2024

Orion founder to put divested assets into new McCrae Tech venture

Ian McCrae wants to expand Orion's hospitals electronic patient record system across the country.

Will Mace Wed, 18 Dec 2024

Aussie PE firm invests in Kiwi software startup

Balmain was already a customer of Caruso, and is now a shareholder as well.

Karyn Scherer Fri, 13 Dec 2024

General Business

Metlifecare receives cash injection from parent company

The company's owner says the additional capital is to fund growth, although net debt has doubled in the past two years.

Nicholas Pointon Thu, 19 Dec 2024

VC and creative agency partners seek $10m for Brand Fund 2

Previously Unavailable and Icehouse Ventures say they're proving the case for marketing-driven valuations.

Will Mace Wed, 18 Dec 2024

Tug of war at top of SolarZero

Staff describe ‘toxic’ culture and dysfunctional board at collapsed solar energy system provider.

Tim Hunter Wed, 18 Dec 2024

The NBR Podcast

Podcast Summer Series: Economics journalist Jono Mitchell

LISTEN: The NBR Podcast’s Summer Series talks to our journalists about 2024’s highs and lows.

Simon Shepherd Thu, 19 Dec 2024

Podcast: Summer Series talks to the NBR co-editors

LISTEN: The NBR Podcast’s Summer Series talks to our journalists about 2024’s highs and lows.

Simon Shepherd Tue, 17 Dec 2024

Podcast #37: Would you trust a neobank?

LISTEN: Forget about Kiwibank being a disrupter, could the real change be a new wave of ‘neobanks’?

Simon Shepherd Thu, 12 Dec 2024

Finance

Mastercard not happy with the Commerce Commission

International payments giant responds to draft decision over lowering fees.

Jonathan Mitchell Thu, 19 Dec 2024

‘Unattractive market’: Govt to loosen listing, KiwiSaver rules

Investing in unlisted assets, dropping PFI requirements, and changing climate-related disclosure thresholds all part of initial changes.

Hamish McNicol Fri, 13 Dec 2024

Specialist lenders optimistic about 2025 economic recovery

KPMG’s latest pulse of finance lenders is out, showing profit and margin pressure in a tough economy.

Jonathan Mitchell Wed, 11 Dec 2024

Law

Kerr loses appeal on $84m debt to BNZ

Fourteen months after hearing the case, the Appeal Court dismisses appeals against summary judgment.

Tim Hunter Thu, 19 Dec 2024

Details of latest Du Val court hearing suppressed, for now

NBR and other media restricted from reporting on application to access the Clarkes' assets.

NBR Staff Wed, 18 Dec 2024

First criminal cartel case ends in community detention

A contractor who engaged in bid rigging receives a non-custodial sentence, while his company is fined $500,000.

Tim Hunter Wed, 18 Dec 2024

Professional Services

EY NZ quits restructuring, report reveals

Firm disbanded local restructuring business due to ‘changing market dynamics’.

Hamish McNicol Mon, 02 Dec 2024

Auditors having issues with the basics, FMA says

But annual review finds overall standard of auditing in New Zealand remains strong.

Hamish McNicol Thu, 28 Nov 2024

Six law firms sign up to country’s first pro bono network

Pro bono clearinghouse Te Ara Ture will lead the initiative, which sets an annual target of 25 hours per lawyer.

Hamish McNicol Mon, 25 Nov 2024

Primary Industries

Premium Seas’ hero seaweed ingredient in new health supplement

The move comes as the seaweed pioneer tries to raise up to $1 million in seed capital.

Fiona Rotherham Thu, 19 Dec 2024

Alliance pauses capital raise from farmers

Debt-burdened co-op exploring other funding options, chair tells shareholders at AGM.

NBR Staff Wed, 18 Dec 2024

Federated Farmers asks ComCom to investigate rural lending

Rural advocacy group says it is seeing potentially cartel-like behaviour from banks around net-zero commitments.

NBR Staff Wed, 11 Dec 2024

Retail

Godfreys NZ liquidators prepared to call in debt collectors

The Godfreys NZ website now sports a banner telling customers to stay tuned and that the company would be back online soon, under new management.

Kate McVicar Wed, 18 Dec 2024

Paper Plus raises capital after covenant breach

Retail co-op issues 584,000 new shares at $1 each.

Kate McVicar Wed, 18 Dec 2024

Sephora NZ loss improves by 63%

The French-owned make-up giant reported its 2023 financials.

Kate McVicar Tue, 10 Dec 2024

Property

Winton postpones Auckland retirement village project

Northbrook development delayed for 12 months in expectation of lower costs.

NBR Staff Thu, 19 Dec 2024

PwC, lawyer fees on Du Val fund a ‘holy s***’ moment for investor

Statutory managers PwC amassed $267,000 worth of fees to mid-December for management of Du Val's $35 million build-to-rent fund, though another deal could be signed by Christmas.

Brent Melville Thu, 19 Dec 2024

Coldplay helps thaw hotel market, city room rates jump to $329

Coldplay and Pearl Jam concerts helped boost Auckland's hotel rates for the first time this year.

Brent Melville Wed, 18 Dec 2024

Deals

Orion Health bought by Canadian AI company Healwell for $200m

Founder and 84% owner Ian McCrae set for big payday but says R&D jobs will stay in New Zealand.

Will Mace Tue, 17 Dec 2024

Government prompts Kiwibank to try to raise $500m

No initial public offering for the bank right now, but maybe later, as Govt acts on Commerce Commission advice on banking sector.

Brent Edwards Mon, 09 Dec 2024

‘Headwinds’ hit Aussie PE and VC activity

In a flat market, the value of the much awaited Canva IPO has also been dialled down from US$40b to US$26b in the last year.

Lachlan Colquhoun Thu, 05 Dec 2024

NBR Focus

Green shoots after Cyclone Gabrielle

WATCH: In this final story, NBR speaks with businesses about growth opportunities in Hawke’s Bay and overseas after Cyclone Gabrielle.

Jonathan Mitchell Fri, 22 Nov 2024

Will the emergency response be better next time?

WATCH: Emergency Management and Recovery Minister Mark Mitchell on why the emergency management system needs an overhaul.

Jonathan Mitchell Thu, 21 Nov 2024

Building resilience, spending millions on cyclone recovery

WATCH: Hawke’s Bay businesses are spending big to recover from Cyclone Gabrielle. Are they prepared for the next one?

Jonathan Mitchell Wed, 20 Nov 2024

Representing the 500 or so descendants of the former eastern Māori MP Wi Pere, the trust generates above-average returns from 7000 hectares of hill country and a relatively small 79ha horticulture unit.

NBR Staff Wed, 23 Oct 2024

Featured NBR Lister 2024: Sir Michael Hill

Earlier this year Sir Michael held a private golf tournament at his exclusive golf course, The Hills, to raise money for environmental conservation organisation Southern Lakes Sanctuary.

NBR Staff Tue, 22 Oct 2024

Featured NBR Lister 2024: Jonathan McHardy

With a property portfolio worth more than $140m, McHardy has a 20% stake in New Zealand Pastures.

NBR Staff Mon, 21 Oct 2024

Aviation News

Air India adds 100 Airbus orders to bulging book

Carry On: Iceland's A321XLR, more Emirates B777 routes, Tasman codeshare.

Nevil Gibson Sat, 14 Dec 2024

Iata predicts five billion passengers for first time in 2025

The international airline body also predicts revenues topping US$1 trillion.

Nevil Gibson Thu, 12 Dec 2024

Air New Zealand brings forward battery-powered plane testing

The Beta Technologies Alia CX300 will fly NZ Post cargo across Cook Strait.

NBR Staff Thu, 12 Dec 2024

Comings & Goings

Cuncannon welcomes new partner

Launched earlier this year, Cuncannon is a boutique litigation and class action firm.

Thu, 19 Dec 2024

Graeme Johnson steps up as Fulton Hogan group CEO

The current top dog of the Australian business heads back to the civil contractors' home in Christchurch, taking over from long-serving Cos Bruyn.

NBR Staff Mon, 16 Dec 2024

Tonkin + Taylor Group appoints new chair

Vanessa Stoddart is a director for Channel Infrastructure, Waste Management, and international forestry company OneFortyOne; she sits on several advisory and not-for-profit boards.

Fri, 13 Dec 2024