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Thu 04 Jun 2026 05:58:44pm

MARKET MOVEMENTS

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Thu 04 Jun 2026 05:58:44pm

MARKET MOVEMENTS

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Top Story

Hunter’s Corner

A quiet hooray for Heartland TSB

ANALYSIS: It won't be smooth sailing, but the proposed bank merger looks like a good move for all concerned.

Tim Hunter Fri, 05 Jun 2026

Hunter’s Corner

A quiet hooray for Heartland TSB

ANALYSIS: It won't be smooth sailing, but the proposed bank merger looks like a good move for all concerned.

Tim Hunter Fri, 05 Jun 2026

Latest News

Budget 2026

DIA warned tax cap could put charities ‘at risk’

Documents published by IRD show the Department of Internal Affairs was against the changes announced last week.

Budget 2026

DIA warned tax cap could put charities ‘at risk’

Documents published by IRD show the Department of Internal Affairs was against the changes announced last week.

Kate McVicar Fri, 05 Jun 2026

Last Word

Wealthy family’s NBR attacks a feeble attempt to deflect

ANALYSIS: We will continue to fearlessly report on the matter despite these attempts to undermine our integrity, co-editors say.

Last Word

Wealthy family’s NBR attacks a feeble attempt to deflect

ANALYSIS: We will continue to fearlessly report on the matter despite these attempts to undermine our integrity, co-editors say.

Hamish McNicol and Calida Stuart-Menteath Fri, 05 Jun 2026

Law

Businessman’s legal troubles mount after $1.5m court loss

The Playmaker Labs director is also being pursued for $50,000 in a separate legal matter.

Law

Businessman’s legal troubles mount after $1.5m court loss

The Playmaker Labs director is also being pursued for $50,000 in a separate legal matter.

Nicholas Pointon Fri, 05 Jun 2026

Thu 04 Jun 2026 05:54:08pm

MARKET MOVEMENTS

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Latest News

Most Popular

Most Commented

Property

Trans-Tasman housing divide a tale of two Budgets

Law

Disputes Tribunal delays cause claimant frustration

Private Bin

Robertson on the run, Promisia promise, crypto crimes, AI SMH

Quick Takes

Quick Takes of the Week to June 5

General Business

Heinz revenue drops, management calculate closure costs

Last Word

Wealthy family’s NBR attacks a feeble attempt to deflect

Hunter’s Corner

A quiet hooray for Heartland TSB

Law

Businessman’s legal troubles mount after $1.5m court loss

Budget 2026

DIA warned tax cap could put charities ‘at risk’

Private Bin

Robertson on the run, Promisia promise, crypto crimes, AI SMH

Quick Takes

Quick Takes of the Week to June 5

Shoeshine

How did Spark’s top brass avoid the flames?

General Business

Wealthy Golden Visa investors seek urgent tax changes

Law

‘Money makes a difference’: Customs fights name suppression

Law

The ‘lucky’ Du Val investors who lost 58% of their money

Politics

Shane Jones felt ambushed by Nicola Willis at Budget lock-up

Law

SFO files charges against former Sacred Hill chief executive

Editor's picks

Market Close

NZX50 dips amid Middle East nerves

Building activity slowed in March quarter.

Investment

Ngāi Tahu Investments looks to halve Sanford shareholding

Ngāi Tahu Holdings CEO says his group remains supportive of the company's long-term outlook.

Tourism

Remarkables aims to jump Cardrona to become NZ’s biggest skifield

Plans include a new 10-seat, 2.7km gondola and doubling annual capacity to half a million visitors.

General Business

ComCom proposes new interchange fee caps on credit cards

The draft proposal could cut costs for businesses by $40m a year.

Featured

Tech & Innovation

Kiwi startup Partly almost a unicorn after Series B raise

The auto parts software business has recently raised $90m, although the lead investor is being kept under wraps.

Economics

EY models worst-case scenarios from ongoing Iran war

In a prolonged crisis to Christmas, GDP could be about $2.9b lower, with household consumption down $6.3b, it says.

Economics

EY models worst-case scenarios from ongoing Iran war

In a prolonged crisis to Christmas, GDP could be about $2.9b lower, with household consumption down $6.3b, it says.

General Business

‘Being an entrepreneur is not for everyone’: Antipodes founder

Elizabeth Barbalich says becoming an ‘overnight success’ takes about 10 years of work.

General Business

‘Being an entrepreneur is not for everyone’: Antipodes founder

Elizabeth Barbalich says becoming an ‘overnight success’ takes about 10 years of work.

Infrastructure

Watercare yet to consult on price hikes

The utility says it’s been analysing international models and will consult on that next year, after boosting charges to Auckland developers by 35.5% since last July.

Infrastructure

Watercare yet to consult on price hikes

The utility says it’s been analysing international models and will consult on that next year, after boosting charges to Auckland developers by 35.5% since last July.

Short videos

NBR Focus

Unlocking Aotearoa: Naomi Ballantyne

0:00

NBR Focus

Unlocking Aotearoa: TPT Group founder Mike Marr

0:00

NBR Focus

Unlocking Aotearoa: Malcolm Jackson

0:00

NBR Focus

Unlocking Aotearoa: Dame Joan Withers

0:00

The NBR Podcast

PM Christopher Luxon joins the NBR Podcast

0:00

Your Business

Extraordinary payments and their $2m capital raise

0:00

General Business

Deepfake ad using doctor’s identity a ‘public safety risk’

0:00

Politically Speaking

Climate law change to block emissions liability claims

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Politically Speaking

Budget will not be an election year give-away

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Politically Speaking

“Lead your own reform or we will do it for you”

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Politically Speaking

The relief of Singapore

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Politically Speaking

The Winston Peters effect

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Politically Speaking

The journalist making the news

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Te Ao Māori

Art Fair expands as Māori voices lead

0:00

Investment

Michael Hill CEO: ‘I’m not a patient person’

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NBR Focus

The Accountants: Full Investigation

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NBR Focus

The Accountants: Some KPMG staff already using AI agents

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NBR Focus

The Accountants: Turning EY into a one-stop-shop

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NBR Focus

The Accountants: PwC and the end of human-only workforces

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NBR Focus

The Accountants: Deloitte sees AI freeing up 25% of capacity

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Read full story

Analysis

Edwards on Politics

Expect a different budget next year if NZ First has more leverage

ANALYSIS: National and Act might have to swallow some dead rats if they want to govern.

Brent Edwards Thu, 04 Jun 2026

Underarm

Is Aussie property market correcting – or in terminal decline?

ANALYSIS: Property has been a stellar investment for generations of Australians, but as prices start to fall some are suggesting the long boom may be over.

Lachlan Colquhoun Wed, 03 Jun 2026

Shoeshine

How did Spark’s top brass avoid the flames?

ANALYSIS: Why the CEO and chair retained their jobs despite the company’s multi-billion-dollar drop in value.

Will Mace Tue, 02 Jun 2026

Margin Call

Protecting real wealth: the role of inflation-indexed bonds

ANALYSIS: If the skew of risks to inflation are to the upside, a portfolio that includes an allocation to inflation-indexed bonds is prudent.

Mark Brown and Tamsin Wilding Tue, 02 Jun 2026

Categories

Investment

NZX50 wavers as Iran deal remains elusive

Fletcher gains amid unexpected jump in building consents.

Curious News Wed, 03 Jun 2026

Mindful Money expands coverage to Aussie super sector

The analysis shows that funds have around 10% invested in sectors their members would like them to avoid.

Lachlan Colquhoun Wed, 03 Jun 2026

Green Cross shares spike as deal proves value

Board focused on delivering for shareholders in sale of medical division to Tend Health for more than the group’s entire market cap.

Tim Hunter Wed, 03 Jun 2026

Economics

Tame Budget no red flag for inflation: RBNZ’s Conway

A July OCR rate hike is a ‘live’ option as hopes build for reopening of Strait of Hormuz.

Jonathan Mitchell Tue, 02 Jun 2026

Government spending as percentage of GDP expected to fall

Two-fifths of the deficit is cyclical, says the Treasury.

Brent Edwards Thu, 28 May 2026

New Zealand economic recovery delayed, not derailed

Optimistic forecasts show the economy growing and inflation coming down after the ‘temporary’ fuel price shock.

Jonathan Mitchell Thu, 28 May 2026

Politics

Shane Jones felt ambushed by Nicola Willis at Budget lock-up

She should not have blighted a professional exchange about the Budget, he says.

Brent Edwards Tue, 02 Jun 2026

Now the Budget is out, its critics must put up their numbers

Opposition parties oppose the Budget, while there is also some coalition friction.

Brent Edwards Sat, 30 May 2026

Political squabbles over fiscal and economic management

Willis says the country has seen what happened when governments provided sugar hits; Edmonds says taking from the poor does not make the country richer.

Brent Edwards Fri, 29 May 2026

Te Ao Māori

Tū Ātea founding CEO to leave in August

Antony Royal departing as Māori-led spectrum and telecommunications network services firm shifts focus.

Mike McRoberts Wed, 03 Jun 2026

BlinkPay proves ‘near instant’ payments

BlinkPay and BNZ say there is no need to wait for a new national payments platform.

Mike McRoberts Wed, 27 May 2026

Māori data finds its fortress

Te Kāhui Raraunga has launched a Māori-owned data storage network as demand grows for sovereign AI, iwi archives, and control over digital infrastructure.

Mike McRoberts Tue, 26 May 2026

Primary Industries

Fonterra boosts guidance amid strong milk price outlook

Co-op reports solid demand and highest third-quarter shipment volumes in a decade.

NBR Staff Thu, 28 May 2026

Origin Capital opens third kiwifruit fund

The private equity firm aims to raise up to $70m to bolster its orchard portfolio and shares in kiwifruit marketing body Zespri.

Kate McVicar Tue, 26 May 2026

Sale of South Island’s largest apple grower falls over

CAJ Apples agreed to sell to two Auckland businessmen two years ago, but the deal has collapsed.

Karyn Scherer Thu, 21 May 2026

Australia

Grocery giant Coles faces massive fine for misleading discounts

It is a big win for regulators, and a judgment against Woolworths on similar charges is expected later this year.

Lachlan Colquhoun Fri, 15 May 2026

Aussie government defends tax changes amid widespread anger

Shares in Australia’s biggest property lender, CBA, dropped by 10% on Wednesday on fears of the impact on property investment.

Lachlan Colquhoun Thu, 14 May 2026

Australia walks a fiscal tightrope in 2026 Budget

This year’s Budget requires some difficult decisions by the Government as it deals with a fiscal position already deteriorating before the hit from the Middle East conflict.

Lachlan Colquhoun Mon, 11 May 2026

Tech & Innovation

Crypto ATM firm fighting NZ ban sued in US

CoinFlip has been accused by Missouri’s Attorney General of knowingly profiting from fraudulent transactions.

Nicholas Pointon Wed, 03 Jun 2026

NZGCP hopes to start deploying new VC fund in the next quarter

The Government agency has been given $10m in this year's Budget to support emerging fund managers.

Fiona Rotherham Fri, 29 May 2026

Straker shares resume trading following suspected employee fraud

The ASX-listed company continues to investigate irregularities in its US business.

Fiona Rotherham Wed, 27 May 2026

Law

Jurisdiction protest on gambling claims comes first, court rules

Class action claims against Bet365 and Super Group must await the outcome of a challenge to the New Zealand courts’ authority to hear the case.

Tim Hunter Wed, 03 Jun 2026

ComCom taking BP to court over pricing errors

Competition watchdog alleges the company failed to give customers discounts they were entitled to, and charged incorrect prices.

NBR Staff Wed, 03 Jun 2026

The ‘lucky’ Du Val investors who lost 58% of their money

Auckland build-to-rent interests are in the hands of a new investor-led consortium, while company founders are out of that deal.

Brent Melville Wed, 03 Jun 2026

Finance

‘Volatility is the new baseline’: Citi’s plans for NZ growth

Local boss Stefan Boisen on what a global reset means for the global banking giant’s domestic business.

Hamish McNicol Mon, 25 May 2026

‘No significant fallout’ from Iran war yet, says Kiwibank

But business confidence to invest has fallen as growth plans go on the backburner.

Jonathan Mitchell Wed, 13 May 2026

Finance Now targets legacy banks with credit offer

The non-bank lender acquired the credit card business from The Warehouse Group in 2017.

Jonathan Mitchell Wed, 13 May 2026

The NBR Podcast

Podcast #106: Would you trust a humanoid?

LISTEN: There’s a new data gold rush and it’s all about training physical AI for robots. Perhaps people are just training their replacements.

Simon Shepherd Tue, 02 Jun 2026

Podcast #105: Grant Baker talks vodka, cars, and cancer

LISTEN: He’s a serial business builder of some of our most well-known companies. Grant Baker looks back on big deals, his love for Ferraris, and why bowel cancer didn’t slow him down.

Simon Shepherd Tue, 26 May 2026

Podcast #104: what’s next for NZX as CEO exits

LISTEN: Mark Peterson’s been in charge of the country’s financial plumbing for nine years. So what does the outgoing NZX CEO make of his time at the top of the market?

Simon Shepherd Tue, 19 May 2026

General Business

Iran strikes Kuwait airport; US proposes new tariff

And Donald Trump confirms he called Israeli Prime Minister Benjamin Netanyahu ‘crazy’.

Nicholas Pointon Thu, 04 Jun 2026

‘Pioneer’ transport founder Jim Ramsay dies

He was inducted into the NZ Road Transport Hall of Fame in 2013.

Jonathan Mitchell Wed, 03 Jun 2026

Iran stops talking to mediators; Bitcoin falls below $70k

And Anthropic is rolling out its powerful Mythos AI model to more trusted partners.

Nicholas Pointon Wed, 03 Jun 2026

Deals

Guthrie to exit Mainland Poultry after private equity buyout

The NBR Rich Lister founded the company as Otago Poultry in the 1990s.

Lachlan Colquhoun Fri, 29 May 2026

Craigs buys Hamilton Hindin Greene

Acquisition of Christchurch firm continues Craigs’ roll-up strategy.

NBR Staff Wed, 20 May 2026

Elevation equity fund gets new manager

Former portfolio manager Victoria Harris, co-founder of The Curve, takes over global shares fund.

Tim Hunter Wed, 20 May 2026

Tourism

Tourism NZ looks to add to $185m business events ‘funnel’

Crown-funded international tourism marketing agency says its event ‘win ratio’ sits at over 60%.

Brent Melville Fri, 22 May 2026

Not worth ‘nickel and diming’ tourists, SkyCity boss says

The hotel and gambling operator is expecting the NZICC to pull an additional 500,000 annual visitors into its Auckland precinct within the next two years.

Brent Melville Wed, 20 May 2026

Auckland airline capacity still 7% below pre-pandemic levels

Jetstar and Qantas were largely responsible for surging Australian arrivals and 4% international passenger increase into Auckland Airport.

Brent Melville Tue, 19 May 2026

Infrastructure

EV ferry could herald ‘fast lane’ to Devonport

Hybrid ferry would remain reliant on diesel generation until the completion of the downtown fast ferry charger at the downtown ferry terminal.

Brent Melville Wed, 27 May 2026

Water Minister the ‘missing actor’ in water reform

Call comes as Wellington’s water authority says annual rates could hit $7000 a year within the next decade, more than double Auckland’s.

Brent Melville Mon, 18 May 2026

Audit Office encourages Mbie to get LNG procurement process right

It says it will consider taking a further look at the process at a later stage.

Brent Edwards Thu, 14 May 2026

Property

Soho Hotel hits the market in ‘distressed’ sale

Developer Dennis Parbhu, who managed the hotel build himself, described conditions as ‘really tough’ when opening it two years ago.

Brent Melville Wed, 03 Jun 2026

Argosy shelves dividend reinvestment plan

Commercial real estate investor has identified surplus properties valued at about $139 million.

Brent Melville Wed, 20 May 2026

St James project owner snaps up adjoining properties

The Notable Properties Trust settled on two neighbouring properties yesterday, which would ‘simplify’ the restoration of the St James Theatre.

Brent Melville Thu, 14 May 2026

Professional Services

KPMG Australia chief resigns over whistleblower scandal

The resignation is the second at an Australian professional services firm after the PwC scandal broke in 2023.

Lachlan Colquhoun Fri, 29 May 2026

Country’s first pro bono legal network delivers 17,500 hours

Six firms signed up to the initiative, led by pro bono clearinghouse Te Ara Ture, with an annual target of 25 hours per lawyer.

Hamish McNicol Thu, 21 May 2026

FMA’s ongoing ‘going concern’ concerns

Latest Financial Statements Monitoring Insights report highlights several areas of reporting concerns for the market regulator.

Hamish McNicol Thu, 09 Apr 2026

NBR Focus

Unlocking Aotearoa: Naomi Ballantyne

WATCH: Our new weekly series on what is holding Aotearoa back, and how we can unleash its potential.

Simon Shepherd Wed, 03 Jun 2026

Unlocking Aotearoa: Ngāti Whātua Ōrākei Trust CEO Lisa Davis

WATCH: Our weekly series on what is holding Aotearoa back, and how we can unleash its potential.

Simon Shepherd Wed, 27 May 2026

Unlocking Aotearoa: TPT Group founder Mike Marr

WATCH: Our weekly series on what is holding Aotearoa back, and how we can unleash its potential.

Simon Shepherd Wed, 20 May 2026

Retail

Abe’s Bagels acquired by George Weston Foods

‘It made sense that they were the right partners to take the business forward,’ says the company’s CEO.

Kate McVicar Thu, 07 May 2026

How crashing Pandora’s party helped launch an eight-figure brand

After jewellery retailer Silvermoon went into liquidation, its founder Simon Thwaites came out of ‘semi-retirement’ to rebuild the company he started more than 20 years ago.

Kate McVicar Wed, 29 Apr 2026

The risks of extending the right to make a citizen’s arrest

The proposal could lead to unintended consequences, says BusinessNZ.

Brent Edwards Thu, 12 Mar 2026

Luxury Property

Andersons Cove record, Arney’s back, Aussies eye NZ ‘tax haven’

Bream Tail Road estate is reputed to have fetched more than its $40 million asking price.

Brent Melville Wed, 27 May 2026

Flying the White Heron, Royal Yacht sale, golden visas ramp up

Luxury market picks up, partially on the back of surging international sales, with 15 applications received by international buyers under the so-called ‘golden visa’.

Brent Melville Wed, 29 Apr 2026

Glendowie golden visa, Bayswater watch, what £20k bought in 1967

Offshore buying proves a bright spot in otherwise slow recovery for high-end properties – and as Middle Eastern buyers start looking.

Brent Melville Wed, 25 Mar 2026

Aviation News

RNZAF safety expert honoured after 50-year aviation career

Group Caption John McWilliam becomes a Member of the New Zealand Order of Merit.

NBR Staff Mon, 01 Jun 2026

‘Supply chain issues’ delay nonstop Sydney-London, NY flights

Carry On: Western Sydney Airport, United’s Starlink, new routes.

Nevil Gibson Sat, 30 May 2026

Wind factor contributed to helicopter toppling during take-off

Pilot and two passengers received minor injuries in crash.

Nevil Gibson Mon, 25 May 2026

Energy

Smelter in talks with Contact for restart of fourth potline

Non-binding letter of intent signed for power purchase agreement.

NBR Staff Wed, 27 May 2026

EA imposes new rules to curb gentailer power

Electricity regulator introduces 'non-discrimination' measures to promote level playing field in retail competition.

NBR Staff Tue, 26 May 2026

ComCom says less competition can be necessary in a crisis

Fuel crisis has shown NZ’s competitive landscape remains strong, although utilities remain the country’s least competitive sector, it says.

Brent Melville Thu, 14 May 2026

Rich List

40 years of the Rich List: the 30th anniversary in 2016

In the lead-up to the 40th edition of the Rich List in June, NBR is opening the archives to reproduce some of the best content from the past four decades.

NBR Staff Fri, 29 May 2026

40 years of the Rich List: the first international list in 2012

In the lead-up to the 40th edition of the Rich List in June, NBR is opening the archives to reproduce some of the best content from the past four decades.

NBR Staff Fri, 01 May 2026

40 years of the Rich List: 2006 Trade Me sale’s 17 millionaires

In the lead-up to the 40th edition of the Rich List in June, NBR is opening the archives to reproduce some of the best content from the past four decades.

NBR Staff Fri, 27 Mar 2026

Marketing & Media

MediaWorks said to be up for sale as it gets back in the black

A report from across the Tasman says the radio broadcaster’s private equity owner is soliciting bids for the business.

NBR Staff Tue, 21 Apr 2026

TVNZ’s interim profit falls as one-off costs bite

The state broadcaster will pay an interim dividend of $1.3m to the Crown.

NBR Staff Fri, 06 Mar 2026

Leaked emails reveal SkyCity breached NBR copyright

The listed casino operator had been distributing PDF copies of NBR articles to staff using just one subscription.

NBR Staff Wed, 21 Jan 2026

Comings & Goings

Aviation leader Billie Moore appointed to new global role

The role will see her focus on government affairs, regulatory relations and public policy across all of OneReg’s markets.

Thu, 04 Jun 2026

Deloitte New Zealand appoints 12 new partners

The partners span the firm’s key business areas, including audit and assurance; strategy, risk and transactions; tax and business advisory; and technology and transformation.

Thu, 04 Jun 2026

Justin Gray moves from Datacom to PwC

Gray will focus on AI-enabled transformation, technology strategy, and business reinvention.

Wed, 03 Jun 2026