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Civil construction firm owes nearly $6m in ‘huge’ liquidation
Hamish McNicol
Wed, 06 May 2026
Wed 06 May 2026 10:41:52am
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Wed, 06 May 2026
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Channel Infrastructure boosts profit guidance
Fuel terminal operator Channel Infrastructure has increased its earnings guidance for the year to December, citing higher revenue from more diesel and jet storage.
In a presentation to its annual meeting on Wednesday, chair James Miller said earnings before interest, tax, depreciation and amortisation would be $97-105 million, up from previous guidance of $95-$100m.
The increase reflected “additional revenue from the early commissioning of the Z Energy jet storage, and additional diesel storage revenue, balanced against an uncertain fuel demand outlook in the current high fuel price environment,” said Miller.
Channel Infrastructure said its 93 million litres of extra diesel storage for the Government was on track for commissioning by May 31, generating revenue from July, while its jet fuel tank for Z Energy would also be ready in July, six months ahead of schedule.
Canva fined over late filing
Australian graphic design unicorn Canva has paid A$792,000 ($966,000) in fines after four of its companies were late in lodging financial returns for the year ending December 2024. Each of the companies has paid A$198,000 for failing to lodge their reports by the deadline of April 30 last year. Canva achieved significant growth in 2024 and surpassed 220 million monthly active accounts during the year. Filings showed that Canva generated revenue of more than US$2b ($3.4b) in 2024, although expenses also grew to US$2.3b. Canva’s last fundraising round, in August 2025, valued the company at US$42b as it heads towards an IPO in the US, now slated for 2028.
Broadcasting Standards Authority to be scrapped
The Government is going to scrap the Broadcasting Standards Authority, with the New Zealand Media Council – an industry self-regulator – expected to become the primary regulator of journalism. Media and Communications Minister Paul Goldsmith said the BSA was designed for a broadcasting environment that was rapidly disappearing. “Today audiences move seamlessly between traditional broadcasting, on-demand services, podcasts and online platforms, yet only a small portion of that content is subject to the BSA’s regulatory oversight. It doesn’t make sense,” he said. Goldsmith said he was confident that greater industry self-regulation was the most practical way to regulate media. It could provide an appropriate level of oversight to maintain ethical journalistic standards and audience trust, he said. Legislation repealing provisions related to the BSA would be drafted in the coming months.
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Wed 06 May 2026 10:38:47am
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