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Beehive Banter

Sinking, fast track list, OCR cut, dismal finances, India

Release of the fast-track list has prompted a new wave of opposition to the Government’s plan.

Brent Edwards Sat, 12 Oct 2024

Beehive Banter

Sinking, fast track list, OCR cut, dismal finances, India

Release of the fast-track list has prompted a new wave of opposition to the Government’s plan.

Brent Edwards Sat, 12 Oct 2024

US election: What’s next for the economic security agenda?

ANALYSIS: New Zealand has an opportunity to take the lead on putting regional economic security squarely on the agenda in its discussions with the new US Administration.

Guest Analysis

US election: What’s next for the economic security agenda?

ANALYSIS: New Zealand has an opportunity to take the lead on putting regional economic security squarely on the agenda in its discussions with the new US Administration.

Jane Mellsop Sat, 12 Oct 2024

Last Word

RBNZ overcooked it and knows it

ANALYSIS: New Zealand was the second country after Norway to begin raising rates as inflation rose, and it went faster and higher than most other jurisdictions around the world.

Last Word

RBNZ overcooked it and knows it

ANALYSIS: New Zealand was the second country after Norway to begin raising rates as inflation rose, and it went faster and higher than most other jurisdictions around the world.

Calida Stuart-Menteath and Hamish McNicol Fri, 11 Oct 2024

Tech & Innovation

Market muted on LanzaTech’s move into human food

The Kiwi-founded and Nasdaq-listed synbio company has launched a new protein produced from CO2 gases.

Tech & Innovation

Market muted on LanzaTech’s move into human food

The Kiwi-founded and Nasdaq-listed synbio company has launched a new protein produced from CO2 gases.

Fiona Rotherham Fri, 11 Oct 2024

MARKET MOVEMENTS

The changing face of Māori tourism

A disguise for the DIA’s incompetence

Australia

Melbourne Rebels saga gets uglier as Rugby Australia countersues

Economics

Inflation plays nice, while migration gains settle

Primary Industries

Investors told they could lose everything as cherry venture sours

Infrastructure

Electricity Authority to drive more competitive sector

Law

Directors in firing line after ‘reckless trading’ judgment

Beehive Banter

Sinking, fast track list, OCR cut, dismal finances, India

Guest Analysis

US election: What’s next for the economic security agenda?

Last Word

RBNZ overcooked it and knows it

Australia

Melbourne Rebels saga gets uglier as Rugby Australia countersues

Tech & Innovation

Market muted on LanzaTech’s move into human food

Investment

The Treaty Principles Bill – debate and debunk

Te Ao Māori

Could Māori meet the shortfall of construction workers in NZ?

Underarm

Green hydrogen future takes its time in Australia

Last Word

RBNZ overcooked it and knows it

Law

Du Val founders seek legal aid, receivers don’t want to pay rent

Infrastructure

Wellington City Council changes its mind over airport shares

Tower guidance beams up again

Listed insurer says underlying NPAT could be about $83m in year ended September 30.

Private Bin

Talley’s rep, Du Val Master Farce, Movac turns Crimson?

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

Infrastructure

Wellington City Council changes its mind over airport shares

Vote was seen as a crucial test for Wellington mayor Tory Whanau.

Quick Takes

Quick Takes of the Week to Friday October 11

In case you missed it: News bites for the week.

Featured

Politics

Finance Minister hopes lower OCR will help government books

She says lower interest rates will have a significant impact on households and businesses.

Featured Listers 2024

Featured NBR Lister 2024: Jonny Hendriksen

In March, Jonny Hendriksen’s Shuttlerock committed to the ‘Pledge 1%’ movement to support mission-driven businesses, donating 1% of its product and 1% of its time.

Featured Listers 2024

Featured NBR Lister 2024: Jonny Hendriksen

In March, Jonny Hendriksen’s Shuttlerock committed to the ‘Pledge 1%’ movement to support mission-driven businesses, donating 1% of its product and 1% of its time.

Te Ao Māori

The Treaty Principles Bill – debate and debunk

ANALYSIS: Has this week’s much anticipated debate shown a national conversation on the Treaty Principles Bill might be worthwhile?

Te Ao Māori

The Treaty Principles Bill – debate and debunk

ANALYSIS: Has this week’s much anticipated debate shown a national conversation on the Treaty Principles Bill might be worthwhile?

Politics

Not all 149 projects on fast-track list will be fast, Bishop says

‘We’ve just got to get things done,’ the RMA reform minister tells NBR.

Politics

Not all 149 projects on fast-track list will be fast, Bishop says

‘We’ve just got to get things done,’ the RMA reform minister tells NBR.

Analysis

Edwards on Politics

The planning fast track to political discord

ANALYSIS: While many projects on the fast-track list are not controversial there are enough that have created strong political opposition.

Brent Edwards Thu, 10 Oct 2024

Underarm

Green hydrogen future takes its time in Australia

ANALYSIS: Early hopes for green hydrogen have had a reality check.

Lachlan Colquhoun Wed, 09 Oct 2024

Margin Call

Whatever it takes: the Dragon unleashed

ANALYSIS: China’s plans to boost its economy are likely to have significant global implications.

Andrew Bascand Tue, 08 Oct 2024

Shoeshine

Potentia sets up pistols at dawn showdown with Vista Group

ANALYSIS: Australian PE investor’s opening salvos may rest a little too heavily on a potential sale of the beloved Kiwi cinema software company.

Will Mace Mon, 07 Oct 2024

General Business

TVNZ to axe 1News website in $30m savings push

TVNZ now seeking feedback on proposals.

NBR Staff Mon, 07 Oct 2024

Gold miners welcome fast track access

Projects in Coromandel and Otago to be considered by expert panel under new resource consent legislation.

Tim Hunter Mon, 07 Oct 2024

Gender pay gap is getting worse in the private sector

New survey shows public service is leading the way, but private companies aren’t following.

Karyn Scherer Mon, 07 Oct 2024

Investment

The wise invest … in Bitcoin?

Recently-rebranded NZX funds management business Smart launches four new ETFs in strategic alliance with iShares.

Hamish McNicol Thu, 10 Oct 2024

Rio bets on lithium revival with US$6.7b Arcadium deal

Rio is taking a counter cyclical approach and buying at the bottom of the cycle.

Lachlan Colquhoun Wed, 09 Oct 2024

Cooks Coffee Company sees sales boost in core markets

The NZX-listed food and beverage retailer behind Esquires in the UK and Ireland reported interim revenue.

Kate McVicar Wed, 09 Oct 2024

Economics

Not everyone will benefit from interest rate cut, economist warns

Craig Renney says particularly low-income people who rent might not be better off.

Brent Edwards Thu, 10 Oct 2024

RBNZ delivers 50-basis point cut: ‘economic growth is weak’

Borrowers and retailers rejoice after the cut, with the official cash rate expected to fall further in 2025.

Brent Edwards Wed, 09 Oct 2024

Reserve Bank pays Crown $597m dividend

Governor Adrian Orr proud of gains the bank has made in the past year.

Brent Edwards Tue, 08 Oct 2024

Te Ao Māori

The changing face of Māori tourism

Two of the star operators of Māori tourism are showing how a shift from volume to value is transforming the industry.

Mike McRoberts Wed, 09 Oct 2024

Could Māori meet the shortfall of construction workers in NZ?

A summit in Wellington today is hoping to entice more Māori into construction as the industry faces a shortfall of more of 350,000 workers.

Mike McRoberts Tue, 08 Oct 2024

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

Politics

Government releases ‘sobering’ numbers for past financial year

Finance Minister Nicola Willis says Government is still committed to getting back into surplus in 2027/28.

Brent Edwards Thu, 10 Oct 2024

Government funding for Gumboot Friday did not follow rules

It raised questions around transparency, value for money and accountability for government spending, A-G says.

Brent Edwards Wed, 09 Oct 2024

Strong opposition to plan to remove ban on offshore oil and gas

Parliamentary Commissioner for the Environment’s office warns repealing the ban will be noted internationally.

Brent Edwards Tue, 08 Oct 2024

Infrastructure

Costs, financing of fast-tracked West Coast hydro scheme unclear

Estimated at $80m to $100m more than 10 years ago, the cost of the Waitaha hydro scheme is yet to be updated.

Tim Hunter Thu, 10 Oct 2024

No costings for fast-tracked Auckland rail project

Capital costs related to AT’s now-fast tracked rail project to remove level crossings are likely headed to at least half a billion dollars, but could also be in ‘never-never’ land.

Brent Melville Thu, 10 Oct 2024

North Island ports hit fast track trifecta

Putting port work into the fast lane has win-win benefits, but plans have already been ‘in the works’ for five years.

Brent Melville Tue, 08 Oct 2024

Australia

Australia set for international student caps

Numbers peaked at 420,000 this year but will be cut to 270,000 next year.

Lachlan Colquhoun Thu, 10 Oct 2024

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

Tech & Innovation

The science nerds helping drive NZ’s economic growth

‘Choosing winners wasn’t easy – every finalist impressed,’ says 2024 KiwiNet Research Commercialisation Awards judge Cather Simpson.

Fiona Rotherham Wed, 09 Oct 2024

Kiwi medical device company Chitogel secures US$6.6m investment

The investment by US-based McGeever comes before an $8m Series A funding round.

Fiona Rotherham Mon, 07 Oct 2024

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

The NBR Podcast

Podcast #19: Mining’s fast track future

LISTEN: This episode of NBR’s podcast examines how mining is back in favour and headed for the Government’s new fast-track consenting process.

Simon Shepherd Thu, 10 Oct 2024

Podcast #18: NZ’s ‘Man of Steel’ Robin Davies

LISTEN: On this episode of NBR’s podcast, NZ Steel CEO Robin Davies on why the company’s new electric arc furnace could reduce emissions more than expected, and why the project kept the Aussie-owned company in NZ.

Simon Shepherd Tue, 08 Oct 2024

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

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

Du Val founders seek legal aid, receivers don’t want to pay rent

Meanwhile, the family trust of Kenyon and Charlotte Clark has also been put into receivership.

Hamish McNicol Wed, 09 Oct 2024

ASB sued by FMA over self-reported breach

Regulator files civil court action after bank overcharged customers $3.9m over eight years.

NBR Staff Tue, 08 Oct 2024

Du Val lawyer Owen Culliney looks to offload ‘luxe’ home

The 341-square-metre home, bought for $1.68 million in 2018, has a capital value of $2.19m.

Brent Melville Mon, 07 Oct 2024

Professional Services

‘A different way of thinking’: Duncan Cotterill’s new CEO

Glen Cornelius says the law firm is a force to be reckoned with after growing to more than 50 partners.

Hamish McNicol Wed, 09 Oct 2024

‘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

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.

Jonathan Mitchell Thu, 03 Oct 2024

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

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

Property syndicate to vote on ousting Maat as manager

Owners of Tauranga office property have called a special meeting over concern about the future of their investment.

Tim Hunter Thu, 10 Oct 2024

Brett Russell: redefining NZ’s hotel landscape

Conversion specialist says New Zealand’s second biggest city has a more ‘favourable attitude’ towards getting developments across the line than Auckland.

Brent Melville Wed, 09 Oct 2024

Sunfield, Beachlands, pass muster for Bishop’s list

Housing agency Kāinga Ora doesn’t have the ‘capability, capacity, or willingness to foster private-sector developments,’ Winton says.

Brent Melville Tue, 08 Oct 2024

Deals

IPO possible for Freedom Lifestyle, after $40m equity deal

Retirement operator, aimed at a younger market, attracted its ‘first tranche’ investment with Singapore entity linked to Arvida suitor, Stonepeak, as it looks to expand lifestyle offering.

Brent Melville Tue, 08 Oct 2024

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

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: Lowe family

The Lowe investment portfolio includes a 17% stake in the Oh My Goodness specialty breads business, and small holdings in Mobile Health, which provides a mobile surgery to rural areas, and Northland’s Reswax gum extraction company.

NBR Staff Thu, 10 Oct 2024

Featured NBR Lister 2024: Kurt Gibbons

Kurt Gibbons’ will have more money in the bank this year after his business partner decided to liquidate some assets.

NBR Staff Wed, 09 Oct 2024

Featured NBR Listers 2024: Perry family

The Perry family’s charitable efforts run all the way back to 1976, when the Brian Perry Charitable Trust was kick started. It now has total assets of $34.2m including the $5m Podium Lodge.

NBR Staff Tue, 08 Oct 2024

Aviation News

Chatham Islands welcome first jet service

Inia William Tuuta Memorial Airport’s runway is longer and stronger.

NBR Staff Mon, 07 Oct 2024

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

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

Comings & Goings

Insurtech Javln appoints new CEO

David Leach has been serving as a board member of Javln for four months.

Thu, 10 Oct 2024

Blackpearl Group makes key leadership appointments

Blackpearl Group current chief financial officer Karen Cargill will transition into the strategically focused role of chief governance officer when Jean-Francois Arlove becomes the new new CFO.

Thu, 10 Oct 2024

India NZ Business Council announces new board leadership

Council appoints Bharat Chawla as chair and Jonathan Manuel as Treasurer. Also there are three new board members: Edwin Paul; Jenny McGregor; and Rachel Lynch.

Thu, 10 Oct 2024

Sinking, fast track list, OCR cut, dismal finances, India

Sinking, fast track list, OCR cut, dismal finances, India

The challenges of health, quarterly action plans, mining

Woke police, charter schools, offshore gas, boosting trade

US election: What’s next for the economic security agenda?

US election: What’s next for the economic security agenda?

RBNZ overcooked it and knows it

RBNZ overcooked it and knows it

Market muted on LanzaTech’s move into human food

Market muted on LanzaTech’s move into human food

A disguise for the DIA’s incompetence

Melbourne Rebels saga gets uglier as Rugby Australia countersues

Inflation plays nice, while migration gains settle

Investors told they could lose everything as cherry venture sours

Electricity Authority to drive more competitive sector

Directors in firing line after ‘reckless trading’ judgment

Sinking, fast track list, OCR cut, dismal finances, India

US election: What’s next for the economic security agenda?

RBNZ overcooked it and knows it

Melbourne Rebels saga gets uglier as Rugby Australia countersues

Market muted on LanzaTech’s move into human food

Tower guidance beams up again

The Treaty Principles Bill – debate and debunk

Could Māori meet the shortfall of construction workers in NZ?

Green hydrogen future takes its time in Australia

RBNZ overcooked it and knows it

Du Val founders seek legal aid, receivers don’t want to pay rent

Wellington City Council changes its mind over airport shares

Tower guidance beams up again

Talley’s rep, Du Val Master Farce, Movac turns Crimson?

Wellington City Council changes its mind over airport shares

Quick Takes of the Week to Friday October 11

Finance Minister hopes lower OCR will help government books

Featured NBR Lister 2024: Jonny Hendriksen

Featured NBR Lister 2024: Jonny Hendriksen

The Treaty Principles Bill – debate and debunk

The Treaty Principles Bill – debate and debunk

Not all 149 projects on fast-track list will be fast, Bishop says

Not all 149 projects on fast-track list will be fast, Bishop says

The planning fast track to political discord

Green hydrogen future takes its time in Australia

Whatever it takes: the Dragon unleashed

Potentia sets up pistols at dawn showdown with Vista Group

General Business

TVNZ to axe 1News website in $30m savings push

Gold miners welcome fast track access

Gender pay gap is getting worse in the private sector

Investment

The wise invest … in Bitcoin?

Rio bets on lithium revival with US$6.7b Arcadium deal

Cooks Coffee Company sees sales boost in core markets

Economics

Not everyone will benefit from interest rate cut, economist warns

RBNZ delivers 50-basis point cut: ‘economic growth is weak’

Reserve Bank pays Crown $597m dividend

Te Ao Māori

The changing face of Māori tourism

Could Māori meet the shortfall of construction workers in NZ?

Why kapa haka is worth making a song and dance over

Politics

Government releases ‘sobering’ numbers for past financial year

Government funding for Gumboot Friday did not follow rules

Strong opposition to plan to remove ban on offshore oil and gas

Infrastructure

Costs, financing of fast-tracked West Coast hydro scheme unclear

No costings for fast-tracked Auckland rail project

North Island ports hit fast track trifecta

Australia

Australia set for international student caps

Westpac served ban after leaking from RBA briefing

Qatar takes 25% stake in Virgin Australia

Tech & Innovation

The science nerds helping drive NZ’s economic growth

Kiwi medical device company Chitogel secures US$6.6m investment

Callaghan touts deep tech incubators a success despite critics

The NBR Podcast

Podcast #19: Mining’s fast track future

Podcast #18: NZ’s ‘Man of Steel’ Robin Davies

Podcast #17: How to off-peak NZ tourism

Finance