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General Business

Hart cashes up in US$3.2b Pactiv deal

Nasdaq-listed packaging company Pactiv Evergreen will be taken private in merger with Novolex.

Tim Hunter Wed, 11 Dec 2024

General Business

Hart cashes up in US$3.2b Pactiv deal

Nasdaq-listed packaging company Pactiv Evergreen will be taken private in merger with Novolex.

Tim Hunter Wed, 11 Dec 2024

‘Missed opportunity’ in Companies Act reform

University of Auckland academics say modernisation of company regulations should go further.

Law

‘Missed opportunity’ in Companies Act reform

University of Auckland academics say modernisation of company regulations should go further.

Hamish McNicol Wed, 11 Dec 2024

Property

Commercial property to climb out of $4b hole

In the worst year for commercial property in at least a decade, 2024 saw the market fall to less than $6b in deals, down from $10b pre-pandemic.

Property

Commercial property to climb out of $4b hole

In the worst year for commercial property in at least a decade, 2024 saw the market fall to less than $6b in deals, down from $10b pre-pandemic.

Brent Melville Wed, 11 Dec 2024

Underarm

Elliott leaves ANZ with his legacy unfulfilled

ANALYSIS: Major projects and acquisitions initiated under Elliott are yet to deliver, and pose challenges for his successor.

Underarm

Elliott leaves ANZ with his legacy unfulfilled

ANALYSIS: Major projects and acquisitions initiated under Elliott are yet to deliver, and pose challenges for his successor.

Lachlan Colquhoun Wed, 11 Dec 2024

MARKET MOVEMENTS

Podcast #36: Who's responsible?

Watts reckons NZ can hit net zero 2050 target six years early

Primary Industries

Federated Farmers asks ComCom to investigate rural lending

Finance

Specialist lenders optimistic about 2025 economic recovery

Primary Industries

Zespri producers approve international growing expansion

Morning Brew

Syrian rebels name interim PM, Netanyahu testifies in court

Law

Greg Olliver slips $60m creditor noose

Law

‘Missed opportunity’ in Companies Act reform

Property

Commercial property to climb out of $4b hole

Underarm

Elliott leaves ANZ with his legacy unfulfilled

Politics

Watts reckons NZ can hit net zero 2050 target six years early

Finance

Specialist lenders optimistic about 2025 economic recovery

Primary Industries

Zespri producers approve international growing expansion

Hunter’s Corner

Finance Minister orders NZGIF to front up on SolarZero

Law

Kenyon and Charlotte Clarke liable for own rent, judge rules

Law

Criminal charges against Woolworths NZ, two Pak’nSaves

Edwards on Politics

Balancing the Government’s books through user pays

Politics

Retirement Commission warns it may have to downsize

Honey biotech’s shareholders shocked by liquidation attempt

The founder of TRG Natural Pharmaceuticals is applying to liquidate the firm, much to the surprise of small shareholders.

Law

DIA sues Skyline subsidiary over alleged AML failures

Regulator files court action against Christchurch Casinos alleging ‘multiple breaches’ of AML legislation.

Politics

Greyhound racing industry ‘devastated’ by decision to close it

Racing Minister Winston Peters says after three reviews too many dogs are still being hurt.

General Business

Pyne Gould mulls potential listing for Torchlight

Torchlight owns the Hanley’s Farm property development in Queenstown.

Featured

Investment

Strong vote against re-election of long-term HLG directors

‘It’s disappointing the Shareholders’ Association thinks if you’re there too long it’s time to cut the throat,’ Hallenstein Brothers founder says.

Law

Tiling dispute blows up into lies and fake documents

High Court orders repayment of $2.8m looted from company in attempt to thwart damages award.

Law

Tiling dispute blows up into lies and fake documents

High Court orders repayment of $2.8m looted from company in attempt to thwart damages award.

The NBR Podcast

Podcast #36: Kill a worker, who’s responsible?

LISTEN: The guilty verdict for ex Ports of Auckland CEO Tony Gibson over a worker’s death could have major ramifications for companies.

The NBR Podcast

Podcast #36: Kill a worker, who’s responsible?

LISTEN: The guilty verdict for ex Ports of Auckland CEO Tony Gibson over a worker’s death could have major ramifications for companies.

Toil & Trouble

Taking the silly out of the silly season

Workplaces nationwide are staging their annual Christmas party but what are the hazards beyond a hangover?

Toil & Trouble

Taking the silly out of the silly season

Workplaces nationwide are staging their annual Christmas party but what are the hazards beyond a hangover?

Analysis

Margin Call

Credit where credit’s due

ANALYSIS: A well-diversified New Zealand bond portfolio should include both corporate and government bonds.

Liam Donnelly Tue, 10 Dec 2024

Shoeshine

F&P Healthcare reaps rewards of two strong halves

ANALYSIS: The share price has climbed over 60% in the past year.

Fiona Rotherham Mon, 09 Dec 2024

On the Money

‘Gamification of finance’ part of investors having fun

ANALYSIS: Performance benchmarking potentially provides both clients and advisors immediate feedback on whether having fun is actually worthwhile.

Brent Sheather Sun, 08 Dec 2024

Book Review

Looking back, looking forward: My year in books 2024

ANALYSIS: NBR's reviewer recaps his favourites from a year’s reading and anticipates ones to come.

Nevil Gibson Sun, 08 Dec 2024

Investment

ANZ goes outside of the bank for Shayne Elliott’s successor

New chief executive Nuno Matos will take over in July next year.

Lachlan Colquhoun Mon, 09 Dec 2024

Comvita misreports sales, overstates after-tax earnings

Accounting irregularities from Comvita's China subsidiary hinder results by about $2 million.

Kate McVicar Mon, 09 Dec 2024

Being AI says consultancy has not performed to expectations

Clarification of the consultancy’s sale raises questions about disagreement between David and Courtney McDonald.

Will Mace Thu, 05 Dec 2024

Economics

High inflation ‘evil’, monetary policy blunt tool, says Orr

RBNZ top brass address pointed questions from MPs at select committee about performance, inflation, and access to money.

Jonathan Mitchell Thu, 05 Dec 2024

RBNZ juggles inflation and economic tightrope in new Trump era

Inflation could get shaken about by President-elect Donald Trump’s strict trade promises, Christian Hawkesby tells NBR.

Jonathan Mitchell Fri, 29 Nov 2024

2025 year of recovery but pain to linger, says RBNZ

Central bank top brass front MPs for questioning after yesterday’s 50bps rate cut, while ANZ business survey highlights pain.

Jonathan Mitchell Thu, 28 Nov 2024

Politics

US trade war with China could get ‘quite bouncy’, says Key

But New Zealand businesses could actually benefit, says the former PM.

Karyn Scherer Sat, 07 Dec 2024

New Zealand taking its trade dispute with Canada to next stage

Todd McClay says New Zealand has to ‘stand up for itself’.

Brent Edwards Fri, 06 Dec 2024

Retirement Commission warns it may have to downsize

Budget cuts ‘not sustainable in the long term,’ says Jane Wrightson.

Karyn Scherer Fri, 06 Dec 2024

Te Ao Māori

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

Government appeals High Court decision in Nelson Tenths case

Country's longest running litigation against the Crown is set to last longer, after the Government lodged an appeal against last month's High Court judgment awarding a significant sum to Māori descendants of the Nelson Tenths.

Mike McRoberts Fri, 29 Nov 2024

Infrastructure

Developers claim Vector anti-competitive, ‘price gougers’

The country’s biggest lines monopoly wanted to charge one owner $72,000 to move an electrical box 200mm.

Brent Melville Mon, 09 Dec 2024

Downer serves up Spotless Catering deal

Infrastructure company sells underperforming catering brand businesses to Doltone Hospitality, signals more divestments to come.

Brent Melville Mon, 02 Dec 2024

Just add money: manufacturers plead for more local support

The sector is a key exporter, but it wants help to get out of the starting blocks.

Brent Melville Wed, 27 Nov 2024

Australia

Mark Bryers jailed until 2032 over A$10m Australian tax fraud

Former Bluechip boss received just under A$1.7m for his role in the scam.

Lachlan Colquhoun Fri, 06 Dec 2024

Virgin Australia wins approval for Qatar Airways flights

The travel industry has welcomed the move, saying it will be good for travellers and enhance competition.

Lachlan Colquhoun Sat, 30 Nov 2024

Mark Bryers clocks up five months in custody

The former Bluechip boss is awaiting sentencing after being found guilty of conspiracy charges in Australia.

Lachlan Colquhoun Thu, 21 Nov 2024

Tech & Innovation

Exits allowed NZGCP to start actively investing again

The government agency said the sale of its stake in Kami improved the cashflow outlook of its Aspire fund.

Fiona Rotherham Fri, 06 Dec 2024

Cleantech company Nilo raises $13m in Series A round

The round was led by existing investor Inter Ikea and deep tech VC firm Pacific Channel.

Fiona Rotherham Wed, 04 Dec 2024

Geo sale attracts several bidders, company owes Pioneer $3.5m

Tradie-centric software-as-a-service business delisted from the NZX in February.

NBR Staff Mon, 02 Dec 2024

General Business

Kia ora good evening, from Ngā Taonga

News shows and programmes over 35 years from TV3 have been donated to Ngā Taonga national archives.

Mike McRoberts Mon, 09 Dec 2024

Top governance honour goes to Palmy’s Grand Pig Master

Rodney Wong will receive the Institute of Directors’ gong of Distinguished Fellow.

Fiona Rotherham Mon, 09 Dec 2024

OECD recommends gentailer split

Report identifies lack of competition in electricity and banking as contributors to low productivity.

NBR Staff Fri, 06 Dec 2024

The NBR Podcast

Podcast #35: Has the PM met his KPIs?

LISTEN: Are the Prime Minister's policies prolonging the recession? Luxon also talks job cuts, cost of living, Māori-Crown relations, and coalition wrangling.

Simon Shepherd Thu, 05 Dec 2024

Podcast #34: Former Xero CEO Steve Vamos talks tech disruption

LISTEN: Steve Vamos has seen 40 years of tech disruption. He’s led companies such as Xero and Ninemsn and worked for Microsoft and Apple. His new book distills four decades of leading through change.

Simon Shepherd Tue, 03 Dec 2024

Podcast #33: The mānuka honey crisis

LISTEN: Once called liquid gold, the honey industry is now in crisis as it fights oversupply and price dumping.

Simon Shepherd Thu, 28 Nov 2024

Finance

Revolut applies to be a bank in NZ

Financial services provider would be the first international digital bank in New Zealand, if approved.

Jonathan Mitchell Fri, 06 Dec 2024

FMA blames economy as confidence in financial markets plunges

Survey reveals one in five believe they have been approached about a scam over the past year.

Karyn Scherer Mon, 02 Dec 2024

Snowball jumps in on funds management

The equity crowdfunding platform has started offering professionally managed funds, which invest in ‘alternative assets’, to its customers.

Nicholas Pointon Mon, 25 Nov 2024

Law

Criminal charges against Woolworths NZ, two Pak’nSaves

Commerce Commission alleges the supermarkets engaged in inaccurate pricing and misleading specials in possible breach of the Fair Trading Act.

Hamish McNicol Tue, 10 Dec 2024

Supreme Court throws out Ormiston Rise jurisdiction appeal

The Court found that overseas shareholders can be subject to a liquidator’s demand for information.

Nicholas Pointon Mon, 09 Dec 2024

Kenyon and Charlotte Clarke liable for own rent, judge rules

Funds used to pay the Du Val founders’ rent and livings expenses are ‘close to exhausted’, judge says.

Brent Melville Fri, 06 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

Pāmu pressed over profitability and cost efficiency

The primary production select committee wants to ensure taxpayers are getting the most bang for their buck.

Kate McVicar Fri, 06 Dec 2024

Zespri net profit forecast to fall up to 21%

A fall in licence revenue is expected to hinder the kiwifruit marketer's results.

Kate McVicar Wed, 04 Dec 2024

Fed Farmers upset after Kāinga Ora rules out wool carpets

Kāinga Ora said a recent cost analysis indicated it could save roughly 34% using nylon carpet.

NBR Staff Wed, 04 Dec 2024

Retail

Sephora NZ loss improves by 63%

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

Kate McVicar Tue, 10 Dec 2024

Profit plummets for Petstock NZ

Financial statements for the pet retailer co-owned by Woolworths showed an 86% decline in profit.

Kate McVicar Thu, 05 Dec 2024

Kmart NZ approaches $1b turnover, profit up 52%

Warehouse Group interim chief executive John Journee last week said it could compete with Kmart.

Hamish McNicol Wed, 27 Nov 2024

Property

Auckland’s ‘sky residence’ sets new bar, at $18m

Recession, what recession? Top three apartments priced at a combined $44m as buyers snap up 24 of 30 apartments in the upmarket Albert Street tower.

Brent Melville Tue, 10 Dec 2024

Wellington office rentals stay static as vacancies breach 7%

Supply and demand office imbalance in Wellington CBD, while Auckland tenants start getting picky about eco-credentials.

Brent Melville Fri, 29 Nov 2024

Citadel Capital fends off liquidation attempt by IRD

The company has settled its long-standing debt with the tax department.

Nicholas Pointon Tue, 26 Nov 2024

Deals

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

‘We do the same DD as any other lender’: NZGIF chair

SolarZero collapse a ‘surprise’, Cecilia Tarrant says.

Hamish McNicol Thu, 28 Nov 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

Featured Listers 2024

Featured NBR Listers 2024: Wi Pere Trust

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

First A321XLR for Qantas takes shape in Hamburg

Carry On: Malaysia’s first A330neo, UK airports for sale, Jetstar’s new uniforms.

Nevil Gibson Sat, 07 Dec 2024

Government to increase jet fuel storage at Auckland

The extension to 10 days follows an inquiry into the 2017 disruption.

NBR Staff Wed, 04 Dec 2024

Air New Zealand to reduce domestic services after peak season

Schedule changes on December 9 will affect services between February and June.

Nevil Gibson Wed, 04 Dec 2024

Comings & Goings

Partners Life appoints CFO

Mark Schollum will join the company in March 2025.

Tue, 10 Dec 2024

Simpson Grierson appoints new litigation partner

Nick Chapman announced amid firm-wide promotions.

Mon, 09 Dec 2024

Appointments to the NZ Post board

Dame Paula Rebstock will be chair; Paul Reid, deputy chair; and Brodie Stevens and Linley Wood will be new directors.

Mon, 09 Dec 2024

Hart cashes up in US$3.2b Pactiv deal

Hart cashes up in US$3.2b Pactiv deal

Featured NBR Lister 2024: Graeme Hart

Graeme Hart’s Pactiv Evergreen closes two plants, axes 1300 jobs

‘Missed opportunity’ in Companies Act reform

‘Missed opportunity’ in Companies Act reform

Commercial property to climb out of $4b hole

Commercial property to climb out of $4b hole

Elliott leaves ANZ with his legacy unfulfilled

Elliott leaves ANZ with his legacy unfulfilled

Watts reckons NZ can hit net zero 2050 target six years early

Federated Farmers asks ComCom to investigate rural lending

Specialist lenders optimistic about 2025 economic recovery

Zespri producers approve international growing expansion

Syrian rebels name interim PM, Netanyahu testifies in court

Greg Olliver slips $60m creditor noose

‘Missed opportunity’ in Companies Act reform

Commercial property to climb out of $4b hole

Elliott leaves ANZ with his legacy unfulfilled

Watts reckons NZ can hit net zero 2050 target six years early

Specialist lenders optimistic about 2025 economic recovery

Zespri producers approve international growing expansion

SolarZero: unclean energy

Finance Minister orders NZGIF to front up on SolarZero

Kenyon and Charlotte Clarke liable for own rent, judge rules

Criminal charges against Woolworths NZ, two Pak’nSaves

Balancing the Government’s books through user pays

Retirement Commission warns it may have to downsize

Honey biotech’s shareholders shocked by liquidation attempt

DIA sues Skyline subsidiary over alleged AML failures

Greyhound racing industry ‘devastated’ by decision to close it

Pyne Gould mulls potential listing for Torchlight

Strong vote against re-election of long-term HLG directors

Tiling dispute blows up into lies and fake documents

Tiling dispute blows up into lies and fake documents

Podcast #36: Kill a worker, who’s responsible?

Podcast #36: Kill a worker, who’s responsible?

Taking the silly out of the silly season

Taking the silly out of the silly season

Credit where credit’s due

F&P Healthcare reaps rewards of two strong halves

‘Gamification of finance’ part of investors having fun

Looking back, looking forward: My year in books 2024

Investment

ANZ goes outside of the bank for Shayne Elliott’s successor

Comvita misreports sales, overstates after-tax earnings

Being AI says consultancy has not performed to expectations

Economics

High inflation ‘evil’, monetary policy blunt tool, says Orr

RBNZ juggles inflation and economic tightrope in new Trump era

2025 year of recovery but pain to linger, says RBNZ

Politics

US trade war with China could get ‘quite bouncy’, says Key

New Zealand taking its trade dispute with Canada to next stage

Retirement Commission warns it may have to downsize

Te Ao Māori

The wero for Māori economic growth

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

Government appeals High Court decision in Nelson Tenths case

Infrastructure

Developers claim Vector anti-competitive, ‘price gougers’

Downer serves up Spotless Catering deal

Just add money: manufacturers plead for more local support

Australia

Mark Bryers jailed until 2032 over A$10m Australian tax fraud

Virgin Australia wins approval for Qatar Airways flights

Mark Bryers clocks up five months in custody

Tech & Innovation

Exits allowed NZGCP to start actively investing again

Cleantech company Nilo raises $13m in Series A round

Geo sale attracts several bidders, company owes Pioneer $3.5m

General Business

Kia ora good evening, from Ngā Taonga

Top governance honour goes to Palmy’s Grand Pig Master

OECD recommends gentailer split

The NBR Podcast

Podcast #35: Has the PM met his KPIs?

Podcast #34: Former Xero CEO Steve Vamos talks tech disruption

Podcast #33: The mānuka honey crisis

Finance