Home

ASX

NZX

MARKET MOVEMENTS

Top Story

Weekly Wrap: Financial forensics, quake pain, the Irish

Sun, 06 Oct 2024

Weekly Wrap: Financial forensics, quake pain, the Irish

Sun, 06 Oct 2024

When bank robbers ruled the roost

True crime saga reveals weaknesses in justice system.

Book Review

When bank robbers ruled the roost

True crime saga reveals weaknesses in justice system.

Nevil Gibson Sun, 06 Oct 2024

Beehive Banter

The challenges of health, quarterly action plans, mining

ANALYSIS: The Government faces criticism over its decision on Dunedin Hospital.

Beehive Banter

The challenges of health, quarterly action plans, mining

ANALYSIS: The Government faces criticism over its decision on Dunedin Hospital.

Brent Edwards Sat, 05 Oct 2024

Aviation News

Starlink signs up more airlines for free cabin wi-fi

Carry On: Qatar-Virgin Australia deal, Cathay’s US plans, new codeshares.

Aviation News

Starlink signs up more airlines for free cabin wi-fi

Carry On: Qatar-Virgin Australia deal, Cathay’s US plans, new codeshares.

Nevil Gibson Sat, 05 Oct 2024

MARKET MOVEMENTS

The NBR List - Click Here

A measured approach to WFH: the office for opportunity

Last Word

Govt to tap Kiwibuild cash to ‘keep builds going’

Law

Global art sale halted over dispute with Auckland printer

Investment

Black Pearl Group reaches $10m ARR, extends path to profitability

Book Review

When bank robbers ruled the roost

Weekly Wrap: Financial forensics, quake pain, the Irish

Investment

Retirement with a view, if you have a spare $6 million

Investment

Black Pearl Group reaches $10m ARR, extends path to profitability

Last Word

ERA upholds Air NZ worker’s sacking for jumping Customs queue

Property

Development contribution hikes ‘won’t impact prices’ – council

General Business

Foodstuffs merger declined by ComCom

Hunter’s Corner

Callaghan touts deep tech incubators a success despite critics

Infrastructure

What NZ can learn from Ireland’s approach to infrastructure

ERA upholds Air NZ worker’s sacking for jumping Customs queue

The worker breached airport security by accessing unauthorised areas with her aunt in tow.

Primary Industries

Farmers ‘frustrated’ by bank behaviour: Federated Farmers

More than 1000 farmers come forward to vent over what banks are not allowing, as inquiry ponders competition issues.

Law

Gold miner avoids sanction for illegal activity

‘No room for cowboys,’ says Ministry after granting diversion for large-scale open cast mining without a permit.

Property

Sime Darby, Volvo, rolls out new $25m Tauranga build

Multinational motor vehicle and transport company strengthens its New Zealand footprint with third property deal in rapid succession.

Featured

Featured Listers 2024

Featured NBR Listers 2024: Marcus and Edwyn Kight

Marcus and Edwyn Kight plan to increase fencing around their two dairy and beef farming properties to help nurture areas of biodiversity and keep natural waterways clean.

Private Bin

Air NZ gaslighting, Lux living, Food stuffed, Chow down

Our weekly collection of news bites, hot takes, and gossip around the town.

Private Bin

Air NZ gaslighting, Lux living, Food stuffed, Chow down

Our weekly collection of news bites, hot takes, and gossip around the town.

Investment

Guzman shares slide after Goldman ‘sell’ rating

Shares almost doubled in value since the IPO but fell by 5% in Thursday trade.

Investment

Guzman shares slide after Goldman ‘sell’ rating

Shares almost doubled in value since the IPO but fell by 5% in Thursday trade.

Investment

NZ needs a strong Kiwibank to challenge Aussies: Jeff Greenslade

‘Every business should have an obsession with profitability,’ recently retired Heartland chief tells NBR.

Investment

NZ needs a strong Kiwibank to challenge Aussies: Jeff Greenslade

‘Every business should have an obsession with profitability,’ recently retired Heartland chief tells NBR.

Analysis

Edwards on Politics

Announcements on announcements: Coalition’s approach to governing

ANALYSIS: In some ways it is not too different to Labour’s approach.

Brent Edwards Thu, 03 Oct 2024

Underarm

Aussie ‘dark companies’ come into the light

ANALYSIS: The veil has been lifted on the finances of some of Australia’s richest people. There may even be some Kiwis among them.

Lachlan Colquhoun Wed, 02 Oct 2024

Margin Call

Asset rich, cashflow poor

ANALYSIS: Synlait Milk is a case study for when asset backing is no longer enough to support valuation.

Paige Hennessy Tue, 01 Oct 2024

Shoeshine

Is rebranding Woolworths worth the pain?

ANALYSIS: Woolworths has committed $400m to rebranding in New Zealand, but some in Australia believe the company should sell out.

Lachlan Colquhoun Mon, 30 Sep 2024

General Business

Foodstuffs merger declined by ComCom

Regulator not satisfied the merger of North Island and South Island co-ops wouldn’t substantially lessen competition in the market.

Will Mace Tue, 01 Oct 2024

Clock ticking on national bed tax, says Tātaki Auckland Unlimited

CEO’s comments follow reports from leaked council documents that Auckland mayor Wayne Brown wants to disestablish the region’s economic development agency.

Fiona Rotherham Mon, 30 Sep 2024

Southern Cross books big annual loss, small surplus forecast

The insurer deals with high demand for healthcare and financial reporting changes.

Jonathan Mitchell Mon, 30 Sep 2024

Investment

Retirement with a view, if you have a spare $6 million

Summerset’s flagship has been in the works for nine years, is now about to open its doors, and will be home to 450 people.

Brent Melville Fri, 04 Oct 2024

Listed real estate hits the wall after $2.1b equity offers

A ‘generic sell off’ of listed property vehicles has ensued post the Auckland Airport and Fletcher Building capital raises.

Brent Melville Thu, 03 Oct 2024

Genesis takes majority stake in ChargeNet for $64m

Deal will help accelerate EV charging infrastructure expansion in New Zealand.

Jonathan Mitchell Wed, 02 Oct 2024

Economics

Banks reckon 100bps cut to OCR by Christmas

Westpac chief economist Kelly Eckhold acknowledges compelling reasons for meatier October and November rate cuts.

Jonathan Mitchell Wed, 02 Oct 2024

Businesses relieved after early interest rate cut

Economists expect another 25bp OCR cut next week, just as business confidence markedly improves in the September quarter.

Jonathan Mitchell Tue, 01 Oct 2024

Coalition’s doubling exports target ‘highly ambitious’: Treasury

NZ exports as a proportion of GDP have got worse this century, and if the Govt was to achieve its 10-year goal exports would have to grow at a compound rate of 7% a year.

Brent Edwards Thu, 26 Sep 2024

Te Ao Māori

Why kapa haka is worth making a song and dance over

New Plymouth can expect an economic boom next February as the greatest show in Te Ao Māori comes to town.

Mike McRoberts Sat, 28 Sep 2024

Supreme Court awards costs to hapū seeking Customary Marine Title

Few matters have caused ‘greater division and dissensus between Pākehā and Māori, and between Māori and Māori, than rights of title and access to New Zealand’s coastline,’ Court of Appeal observed.

Mike McRoberts Fri, 20 Sep 2024

Te umanga o te ako i te reo – The business of learning te reo

WATCH: We meet two advocates who have made it their business to drive the growth of te reo Māori learning for Māori and non-Māori.

Mike McRoberts Thu, 19 Sep 2024

Politics

Uncertainty about sharing costs of climate change adaptation

Framework needs to set out clear mandate for central and local government in legislation.

Brent Edwards Tue, 01 Oct 2024

Government says it will clear away barriers to infrastructure

Focus on infrastructure came just days after Government canned planned Dunedin Hospital build.

Brent Edwards Mon, 30 Sep 2024

Submitters call for changes to Government’s minerals strategy

Cabinet will get a final version of the strategy by the end of the year.

Brent Edwards Mon, 30 Sep 2024

Infrastructure

Ports, KiwiRail, FinMin all mum on port upgrade costs

No-one is saying whether port infrastructure still requires substantial upgrades, irrespective of ferry replacement decision.

Brent Edwards Wed, 02 Oct 2024

What NZ can learn from Ireland’s approach to infrastructure

Buddle Findlay chair Jennifer Caldwell explains Ireland’s commitment to long-term infrastructure planning is linked to a 10-year, €165b fund.

Brent Edwards Mon, 30 Sep 2024

A financial storm: Council costs blow out by almost $1 billion

Operating costs for the supercity spiralled $940 million beyond what was planned, prompted by $685m in spending on storm-affected properties.

Brent Melville Sat, 28 Sep 2024

Australia

Westpac served ban after leaking from RBA briefing

The bank regularly holds off-the-record briefings, but that confidence is not always respected.

Lachlan Colquhoun Wed, 02 Oct 2024

Qatar takes 25% stake in Virgin Australia

The deal will see Virgin return to international routes, and could also kickstart the stalled IPO.

Lachlan Colquhoun Tue, 01 Oct 2024

RBA to stay put on rates as economic arguments intensify

ANALYSIS: The RBA finds itself under fire on monetary policy as Government reforms of the bank stall in Parliament.

Lachlan Colquhoun Tue, 24 Sep 2024

Tech & Innovation

Callaghan touts deep tech incubators a success despite critics

A 10-year review shows it has supported nearly half of deep tech startups founded in NZ but some think money could be better spent elsewhere.

Fiona Rotherham Thu, 03 Oct 2024

Govt seeks public sector projects for local-led space mission

Meanwhile, top Nasa administrators tour Tāwhaki National Aerospace Centre, Parliament, and Rocket Lab.

Will Mace Fri, 27 Sep 2024

Govt invites aerospace innovators with ‘light touch’ regulation

Agencies such as Nasa are increasingly interested in what New Zealand has to offer, Space Minister Judith Collins says.

Will Mace Tue, 24 Sep 2024

The NBR Podcast

Podcast #17: How to off-peak NZ tourism

LISTEN: This episode of NBR’s podcast looks at a $5 billion dollar plan to 'deseasonalise' the tourism industry.

Simon Shepherd Thu, 03 Oct 2024

Podcast #16: Kiwi music legend Brent Eccles turns 70

LISTEN: This episode of NBR’s podcast talks to veteran Kiwi drummer and music promoter Brent Eccles on why tickets are so expensive, who could be the next breakthrough artist, and drumming for Aussie rock band The Angels.

Simon Shepherd Tue, 01 Oct 2024

Podcast #15: Solar to the rescue?

LISTEN: This episode of NBR’s podcast asks whether each major business needs a solar farm to battle soaring energy costs.

Simon Shepherd Thu, 26 Sep 2024

Finance

RBNZ’s Hawkesby agrees more banking competition ‘desirable’

The central bank published its submission to Parliament’s select committee inquiry into banking competition today.

Jonathan Mitchell Thu, 26 Sep 2024

Hillfarrance VC fund ‘left unmanned’, NZGCP disappointed

Although the fund’s investors have appointed a new manager to help promising portfolio of companies.

Will Mace Mon, 23 Sep 2024

NZ Super Fund’s investment process ‘exceptional’: review

But fund faces risks in the years ahead.

Brent Edwards Tue, 10 Sep 2024

Law

FMA files proceedings against QEX Logistics and its founder

The company, delisted in April 2022, failed to lodge financial statements for the 2021, '22 and '23 financial years.

Hamish McNicol Wed, 02 Oct 2024

Du Val was in a ‘precarious position’ – Andrew Bayly

Cabinet briefing paper on statutory management stressed urgency as creditors were set to move on the troubled development firm.

Brent Melville Mon, 30 Sep 2024

Intueri investors win payout as class action settles

Claim filed in 2020 alleged the education group’s collapse followed false and misleading statements in its IPO prospectus.

Tim Hunter Fri, 27 Sep 2024

Professional Services

‘Worst kept secret’: Kennedys acquires Wellington law firm

Three partners and seven lawyers join international insurance firm ahead of further hires.

Hamish McNicol Thu, 03 Oct 2024

Liquidator’s licence cancelled for undermining licensing regime

Kelera Nayacakalou found to have sub-contracted insolvency work out to a person whose application to be a licensed practitioner had been declined.

Hamish McNicol Wed, 02 Oct 2024

Revenues slump at PwC Australia after tax leaks scandal

Once ranked top, PwC Australia has slipped to third among the big four firms.

Lachlan Colquhoun Tue, 24 Sep 2024

Primary Industries

Pay boost for Landcorp CEO

State-owned farming company, which trades as Pāmu, pays bonus after missing financial targets.

Tim Hunter Thu, 03 Oct 2024

Hundreds of meatworkers to lose jobs in Alliance closure

NZ Meat Workers Union national secretary warns other plants could follow suit as industry declines.

Fiona Rotherham Fri, 27 Sep 2024

Fonterra stocks gain on strong earnings and outlook

Dairy co-op CEO Miles Hurrell looks forward to sales process for $3.4b Consumer unit ‘kicked off before Christmas’.

Tim Hunter Wed, 25 Sep 2024

Retail

DoorDash to push into the regions

Nasdaq-listed technology company competes with Uber for market share in New Zealand, as smaller competitors exit market.

Kate McVicar Thu, 03 Oct 2024

Kiwi bone broth company opens $1.5m raise

The Little Bone Broth Company has expanded its retail presence and now plans to scale up production.

Kate McVicar Wed, 02 Oct 2024

Academic calls for Foodstuffs divestments following ComCom block

Market regulator today said it was not satisfied the merger of North Island and South Island co-ops wouldn’t substantially lessen competition in the market.

Hamish McNicol Tue, 01 Oct 2024

Property

Civil war: Auckland Council v Auckland Council

Super Fund’s multi-billion dollar planned coastal development at question as council takes legal issue with its own ‘independent’ panel, largely based on a lack of transport capacity.

Brent Melville Wed, 02 Oct 2024

Development contribution hikes ‘won’t impact prices’ – council

Drury, inner northwest, and Tāmaki will see housing levies in Auckland bumped up as much as four times, to as much as $119,000 per house.

Brent Melville Tue, 01 Oct 2024

Calm before the buying storm, hoteliers eye up Auckland

City’s sudden room overcapacity and an improving lending environment make it attractive to offshore buyers, but hoteliers say city needs to firm up a strategy to attract major events.

Brent Melville Mon, 30 Sep 2024

Deals

Tradify seals $100m-plus sale to UK software powerhouse

Kiwi-built software simplifies essential tasks like quoting, invoicing, and job tracking for tradespeople.

Will Mace Wed, 02 Oct 2024

London private capital firm complains about NZTE deal platform

But correspondence released to NBR under the OIA says there have been no issues with Live Deals.

Hamish McNicol Wed, 25 Sep 2024

Reefton Distilling Co secures $1.7m for next growth

South Island business targets whisky to help it plot a path to profitability.

Jonathan Mitchell Mon, 23 Sep 2024

NBR Focus

Financing and funding New Zealand’s infrastructure gap

ANALYSIS: The biggest infrastructure challenge is about generating revenue streams, the Infrastructure Commission says.

Brent Edwards Thu, 05 Sep 2024

No progress on jet fuel infrastructure at Auckland Airport

Joint ownership by three fuel companies seen as stumbling block to critical storage investment.

Tim Hunter Thu, 05 Sep 2024

Sean Sweeney, on not being afraid of ‘big numbers’

But piecemeal and one-off projects are an ‘extraordinarily’ expensive, inefficient way to build infrastructure, outgoing CRL boss says.

Brent Melville Wed, 04 Sep 2024

Featured Listers 2024

Featured NBR Listers 2024: Hartley and Marree Atkinson

The Atkinson’s AFT Pharmaceuticals has dropped on the NZX and ASX in the past year, despite meeting financial milestones.

NBR Staff Thu, 03 Oct 2024

Featured NBR Lister 2024: Michael Guthrie

In addition to his now 13.85% stake in Mainland Poultry, Michael Guthrie has an interest in a portfolio of commercial and residential properties in Dunedin and Wanaka.

NBR Staff Wed, 02 Oct 2024

Featured NBR Lister 2024: Malcolm Dick

A keen sailor, Malcolm Dick owns the 65-foot yacht Sea Toy, created by legendary Kiwi designer Alan Warwick.

NBR Staff Tue, 01 Oct 2024

Aviation News

Rotorua Airport to mark 60th anniversary with free open day

Attractions include warbird charter flights and Air New Zealand exhibitions.

NBR Staff Mon, 30 Sep 2024

RNZAF’s new Hercules soon to join Antarctic mission

The NZ Defence Force plans 15 return flights to the ice up to March next year.

Nevil Gibson Mon, 30 Sep 2024

Alaska, Hawaiian commit to merger conditions

Carry On: Airlink potential, Russian revival, Chinese buy Boeings, Embraer payoff.

Nevil Gibson Sat, 28 Sep 2024

Comings & Goings

New appointment to the EPA board

Brett O’Riley is the executive chair of Manawaroa Education and a member of the APEC Business Advisory Council.

Fri, 04 Oct 2024

FMA appoints ED for transformation and operational delivery

Kari Jones will start at the FMA in November.

Thu, 03 Oct 2024

Head of Visa Australia, New Zealand, and South Pacific appointed

Alan Machet is based in Sydney.

Thu, 03 Oct 2024

Weekly Wrap: Financial forensics, quake pain, the Irish

Weekly Wrap: Financial forensics, quake pain, the Irish

NZ needs a strong Kiwibank to challenge Aussies: Jeff Greenslade

Aussie ‘dark companies’ come into the light

When bank robbers ruled the roost

When bank robbers ruled the roost

The challenges of health, quarterly action plans, mining

The challenges of health, quarterly action plans, mining

Starlink signs up more airlines for free cabin wi-fi

Starlink signs up more airlines for free cabin wi-fi

A measured approach to WFH: the office for opportunity

A ComCom quibble

After nine years, vindication

Govt to tap Kiwibuild cash to ‘keep builds going’

Global art sale halted over dispute with Auckland printer

Black Pearl Group reaches $10m ARR, extends path to profitability

When bank robbers ruled the roost

Weekly Wrap: Financial forensics, quake pain, the Irish

Retirement with a view, if you have a spare $6 million

Black Pearl Group reaches $10m ARR, extends path to profitability

A ComCom quibble

ERA upholds Air NZ worker’s sacking for jumping Customs queue

Development contribution hikes ‘won’t impact prices’ – council

Foodstuffs merger declined by ComCom

After nine years, vindication

Pay boost for Landcorp CEO

Callaghan touts deep tech incubators a success despite critics

What NZ can learn from Ireland’s approach to infrastructure

ERA upholds Air NZ worker’s sacking for jumping Customs queue

Farmers ‘frustrated’ by bank behaviour: Federated Farmers

Gold miner avoids sanction for illegal activity

Sime Darby, Volvo, rolls out new $25m Tauranga build

Featured NBR Listers 2024: Marcus and Edwyn Kight

Air NZ gaslighting, Lux living, Food stuffed, Chow down

Air NZ gaslighting, Lux living, Food stuffed, Chow down

Guzman shares slide after Goldman ‘sell’ rating

Guzman shares slide after Goldman ‘sell’ rating

NZ needs a strong Kiwibank to challenge Aussies: Jeff Greenslade

NZ needs a strong Kiwibank to challenge Aussies: Jeff Greenslade

Announcements on announcements: Coalition’s approach to governing

Aussie ‘dark companies’ come into the light

Asset rich, cashflow poor

Is rebranding Woolworths worth the pain?

General Business

Foodstuffs merger declined by ComCom

Clock ticking on national bed tax, says Tātaki Auckland Unlimited

Southern Cross books big annual loss, small surplus forecast

Investment

Retirement with a view, if you have a spare $6 million

Listed real estate hits the wall after $2.1b equity offers

Genesis takes majority stake in ChargeNet for $64m

Economics

Banks reckon 100bps cut to OCR by Christmas

Businesses relieved after early interest rate cut

Coalition’s doubling exports target ‘highly ambitious’: Treasury

Te Ao Māori

Why kapa haka is worth making a song and dance over

Supreme Court awards costs to hapū seeking Customary Marine Title

Te umanga o te ako i te reo – The business of learning te reo

Politics

Uncertainty about sharing costs of climate change adaptation

Government says it will clear away barriers to infrastructure

Submitters call for changes to Government’s minerals strategy

Infrastructure

Ports, KiwiRail, FinMin all mum on port upgrade costs

What NZ can learn from Ireland’s approach to infrastructure

A financial storm: Council costs blow out by almost $1 billion

Australia

Westpac served ban after leaking from RBA briefing

Qatar takes 25% stake in Virgin Australia

RBA to stay put on rates as economic arguments intensify

Tech & Innovation

Callaghan touts deep tech incubators a success despite critics

Govt seeks public sector projects for local-led space mission

Govt invites aerospace innovators with ‘light touch’ regulation

The NBR Podcast

Podcast #17: How to off-peak NZ tourism

Podcast #16: Kiwi music legend Brent Eccles turns 70

Podcast #15: Solar to the rescue?

Finance