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Hot Topic EARNINGS

Tue 26 May 2026 10:46:33pm

MARKET MOVEMENTS

Tue 26 May 2026 10:46:33pm

MARKET MOVEMENTS

Top Story

Underarm

Aussie tax ‘own goal’ could be a score for New Zealand

ANALYSIS: Nicola Willis says Australian business investors have an ‘epic opportunity’ to relocate. Is New Zealand now a tax haven for Aussie investors?

Lachlan Colquhoun Wed, 27 May 2026

Underarm

Aussie tax ‘own goal’ could be a score for New Zealand

ANALYSIS: Nicola Willis says Australian business investors have an ‘epic opportunity’ to relocate. Is New Zealand now a tax haven for Aussie investors?

Lachlan Colquhoun Wed, 27 May 2026

The Labour Party wants the Budget to focus on productivity

But pre-Budget announcements about cuts to the public service and to the support given to people in social housing signalled the approach the Govt was instead taking, says Barbara Edmonds.

Politics

The Labour Party wants the Budget to focus on productivity

But pre-Budget announcements about cuts to the public service and to the support given to people in social housing signalled the approach the Govt was instead taking, says Barbara Edmonds.

Brent Edwards Wed, 27 May 2026

NBR Focus

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.

NBR Focus

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

Te Ao Māori

BlinkPay proves ‘near instant’ payments

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

Te Ao Māori

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

Quick Takes

Savor bumps up to profit

Listed hospitality group Savor has traded red ink for black. The Auckland group behind venues such as Amano, Azabu, and Bivacco reported a profit of $1.3 million for the year ended March 31, up from a loss of $1.2m the previous year.
Revenue reduced to $55.2m for the year, down from $56.6m, and operating earnings rose to $8m from $7.3m with a margin of 14.5%.
Savor CEO Lucien Law described FY26 as one of "tremendous progress" for the group in what had been a tough year for the sector. About 65% of the company's earnings are typically generated through the summer months.
The company reported it was not yet in a position to reconfirm its FY27 guidance issued but would provide a further update at the AGM in September. In March Savor forecasted operating earnings of between $9m and $10m for the 2027 fiscal year.

Budget funding for new Rotorua courtrooms

This week’s Budget is allocating $100 million to build two new court houses in Rotorua. One will be for the Rotorua Law Courts, which house the High Court, District Court, Coroners Court and relevant tribunals, and the other for Rotorua Māori Land Court.
Courts Minister Nicole McKee said for too long Rotorua had been left with courts which were no longer fit for purpose.
“Longstanding issues, including leaks, mould and poor ventilation, have created unacceptable conditions for court users and staff,” McKee said.
She said the current courts also created unnecessary security risks, with victims, jurors, witnesses and defendants all using the same entrances.
“The new buildings will significantly increase courtroom capacity, including two new jury-enabled courtrooms, one additional non-jury custodial courtroom and an additional non-custodial multi-jurisdictional courtroom,” McKee said.

Last Word

The writing was on the wall at the FMA

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.

Market Close

NZX50 rallies as F&P's intake overcomes Infratil’s exhale

The RBNZ policy review and government’s budget are keenly awaited.

Investment

Sluggish housing market to weigh on Ryman's resale margins

The retirement village provider was cash positive at its balance date for the first time in a decade.

Investment

AI the ‘opportunity of a lifetime’ – Infratil

Infrastructure investor pursuing growth in datacentres and renewable energy as it reports return to profit.

Featured

Investment

NZK boss: Sanford has ‘opportunity to ride on our coattails’

The two NZX-listed fishing companies have taken different approaches to selling their fish.

General Business

FMA refuses to release second KC report

The market regulator last November instructed James Every-Palmer KC to look at an incident between two staffers.

General Business

FMA refuses to release second KC report

The market regulator last November instructed James Every-Palmer KC to look at an incident between two staffers.

Toil & Trouble

How to handle a deluge of private information requests

A growing number of vexatious requests are sucking up organisations’ time and resources.

Toil & Trouble

How to handle a deluge of private information requests

A growing number of vexatious requests are sucking up organisations’ time and resources.

The NBR Podcast

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.

The NBR Podcast

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

Analysis

Margin Call

Should NZX directors own the companies they govern?

ANALYSIS: Companies need to formalise skin in the game and make transparent minimum shareholding requirements.

Liam Donnelly Tue, 26 May 2026

Shoeshine

Investors wait for ailing CSL to recover

ANALYSIS: The past three years have been a disaster for CSL as the company’s share price has more than halved. Is there any more bad news to come, or has the company been oversold?

Lachlan Colquhoun Mon, 25 May 2026

Economy Matters

Supply shock now embedded in expectations, not just pump price

ANALYSIS: Anna Breman faces a choice on May 27: risk recession to defend credibility or delay action and hope this shock fades before expectations change.

Christoph Schumacher Mon, 25 May 2026

Book Review

Books alive! Festivals boom as authors draw thousands

The Auckland Writers Festival continues to break records with international attractions.

Nevil Gibson Sun, 24 May 2026

Investment

Goodman bumps npat by 126% on valuation gains

The country’s largest industrial landlord is forecasting 5% growth in full-year cash earnings on increasing demand for the current year.

Brent Melville Tue, 26 May 2026

F&P Healthcare weighs on NZX50 ahead of earnings

Asian markets rallied amid growing optimism for a Middle East peace deal.

Curious News Mon, 25 May 2026

Another WasteCo director bites the dust

Three directors have departed the publicly-listed waste company abruptly this year.

NBR Staff Mon, 25 May 2026

Economics

Businesses not expecting any Budget treats

Business optimism remains fragile while the economic recovery gets pushed to 2027.

Jonathan Mitchell Thu, 21 May 2026

Diesel price up near 100% as Iran war bites manufacturers

The cracks are starting to show as businesses feel the cost pressure of the conflict.

Jonathan Mitchell Fri, 15 May 2026

SME lending transparency needs to be similar to mortgages: RBNZ

Green Party co-leader Chlöe Swarbrick also questions whether a softer housing market could impact lending to small businesses.

Brent Edwards Thu, 07 May 2026

Politics

‘We are not picking winners’: Willis on gas transition loan

The Government has set out a Budget initiative to reduce gas consumption and will also legislate for greater transparency around gas supply and demand.

Brent Edwards Mon, 25 May 2026

Buy back BNZ, Public Service, social housing cuts

ANALYSIS: Nicola Willis regretted saying social housing tenants had ‘won the lotto’.

Brent Edwards Sat, 23 May 2026

Government takes ‘hard choices’ on reforming social housing

Chris Bishop says the current system is ‘not fair and not right’, while lifting social housing rents.

Brent Edwards Thu, 21 May 2026

Te Ao Māori

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

Hāngī in a bottle

Dr Kiri Dell’s Nuka Charitable Trust is turning East Coast kānuka into a higher-value Māori economy play.

Mike McRoberts Mon, 25 May 2026

Iwi backs fibre future with multi-million Rubisco investment

A Ngāi Tahu rūnanga investment in Rubisco is being pitched as more than capital, with Arowhenua looking at hemp supply, regional jobs and a stronger hand in natural materials.

Mike McRoberts Wed, 20 May 2026

Primary Industries

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

MyFarm Central Cherry Orchard raises capital at 95% haircut

‘It doesn’t matter how good you are as an investor or an asset manager, you can't outrun industry performance,’ MyFarm boss says.

Kate McVicar Thu, 14 May 2026

Temu for ag: GrowPay targets farm cost squeeze

Ross Hyland says his new rural finance and marketplace platform can cut farm input costs, free up working capital, and challenge the way farmers buy and borrow.

Mike McRoberts Wed, 13 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

Vend founder on how being different makes a difference

Vaughan Fergusson has been inducted into the NZ Hi-Tech Hall of Fame for his entrepreneurial endeavours and mentoring of Kiwi founders.

Fiona Rotherham Fri, 22 May 2026

Lume set to shine a light on the endangered art of albums

A quartet of business-savvy, music-loving co-founders have come up with an idea that could solve those concerns you have about Spotify.

Will Mace Fri, 22 May 2026

Cleantech company Cetogenix secures $23m UK water project

The major milestone should help kickstart interest in its Series A funding round.

Fiona Rotherham Wed, 20 May 2026

Law

Australian crypto investor fined $350k for OIO breach

Judge notes 'need for specific deterrence' after $4.5m Hawke's Bay land deal.

NBR Staff Mon, 25 May 2026

Online gambling claims face jurisdiction hurdle

Any delay to class action proceeding just ‘a consequence of suing overseas parties,’ say defendants.

Tim Hunter Mon, 25 May 2026

A $2m Pyne Gould Corp paper trail

How a straightforward share transaction between George Kerr and Vadim Perelman ended up in a London court.

Tim Hunter Tue, 19 May 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 #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

Podcast #103: Prime Minister Christopher Luxon

LISTEN/WATCH: With the election six months away, Luxon sits down to talk hustling for fuel and whether he can keep the coalition together.

Simon Shepherd Tue, 12 May 2026

Podcast #102: Growers’ pains

LISTEN: The closure of McCain and Heinz Wattie’s frozen vegetable plants could knock out almost half the processing industry. New Zealand has such great soil and water, so why can’t vegetable growers and packers make a decent profit?

Simon Shepherd Tue, 05 May 2026

General Business

Sticking points persist in Iran deal; Uber eyes German rival

And Japan to build extra US$19b in reserves ‌to help with cost of living.

Jonathan Mitchell Tue, 26 May 2026

Trump won’t rush Iran deal; Rubio meets Modi in India

And UK officials suggest a single market for trade with the European Union.

Jonathan Mitchell Mon, 25 May 2026

SPQR director treated company like a ‘piggy bank’

The Deputy Registrar's written decision to ban Chris Rupe from being a company director for 8.5 years was released to NBR under the Official Information Act.

Nicholas Pointon Mon, 25 May 2026

Deals

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

Private capital investment dragged down $1b by fewer big deals

Valuation expectations a key challenge for 2026.

Fiona Rotherham Mon, 18 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

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

StraitNZ sets sale as Morgan Stanley looks to $1.2b exit

The global private equity fund bought the logistics and Bluebridge operator in March 2022, but has now appointed investment banks to promote its sale.

Brent Melville Tue, 12 May 2026

Property

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

Exodus continues at JLL Auckland

The firm’s hotels and hospitality team has been razed by competitors, following a right-sizing that’s also seen office closures.

Brent Melville Wed, 13 May 2026

Professional Services

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

Lane Neave managing partner retires

He will be replaced by litigation partner Ben Russell.

Hamish McNicol Wed, 01 Apr 2026

NBR Focus

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

Unlocking Aotearoa: FirstCape CEO Malcolm Jackson

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

Simon Shepherd Wed, 13 May 2026

Unlocking Aotearoa: Dame Joan Withers

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

Simon Shepherd Wed, 06 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

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

First Light’s Hickey sells in Ongaonga, Seselj buys in Herne Bay

‘You wouldn’t want to leave your cell phone at one end of this home’, realtor says.

Brent Melville Wed, 25 Feb 2026

Aviation News

Wind factor contributed to helicopter toppling during take-off

Pilot and two passengers received minor injuries in crash.

Nevil Gibson Mon, 25 May 2026

Gulf war boosts demand for Singapore Airlines

Carry On: Mideast airport losses, Trump’s airport, Korean merger.

Nevil Gibson Sat, 23 May 2026

Air NZ adds three new Christchurch international flights

National carrier says the new routes are part of an agreement with Christchurch Airport to expand international connectivity into the South Island.

NBR Staff Wed, 20 May 2026

Energy

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

Lack of transparency cited as Maersk, MSC clip on fuel surcharges

Maersk’s fuel surcharge will add 27% to its land-based pricing, while other carriers had applied various surcharge mechanisms that weren’t as ‘clearly separated’.

Brent Melville Tue, 05 May 2026

Rich List

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

40 years of the Rich List: Graeme Hart named first billionaire

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 Feb 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

Jacob Barry joins specialist law firm

Barry is known as a leading trial lawyer with a significant track record as counsel appearing in high-stakes regulatory matters.

Wed, 27 May 2026

Meat Industry Association appoints chief executive

Nick Beeby will join MIA on July 1.

Tue, 26 May 2026

Tower appoints chief operations officer

Michael Skeens will be responsible for leading Tower’s operational hubs, teams, systems, and processes.

Mon, 25 May 2026

Aussie tax ‘own goal’ could be a score for New Zealand

Aussie tax ‘own goal’ could be a score for New Zealand

Aussie government defends tax changes amid widespread anger

Aussie budget makes sweeping changes to capital gains tax

Free News Alerts

The Labour Party wants the Budget to focus on productivity

The Labour Party wants the Budget to focus on productivity

Unlocking Aotearoa: Ngāti Whātua Ōrākei Trust CEO Lisa Davis

Unlocking Aotearoa: Ngāti Whātua Ōrākei Trust CEO Lisa Davis

BlinkPay proves ‘near instant’ payments

BlinkPay proves ‘near instant’ payments

Savor bumps up to profit

Budget funding for new Rotorua courtrooms

Title

Laser-beaming electricity startup Aquila powers 24-hour robot

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

Smelter in talks with Contact for restart of potline 4

PaySauce reports FY profit drop as Australian opportunity looms

Aroa’s Symphony in sweet spot from US insurer reset

Iran accuses US of violating ceasefire; Ferrari’s EV push shocks

Aussie tax ‘own goal’ could be a score for New Zealand

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

The Labour Party wants the Budget to focus on productivity

Laser-beaming electricity startup Aquila powers 24-hour robot

Iran accuses US of violating ceasefire; Ferrari’s EV push shocks

Unlocking Aotearoa: Ngāti Whātua Ōrākei Trust CEO Lisa Davis

A Budget aimed at not losing the election

Sale of South Island’s largest apple grower falls over

SPQR director treated company like a ‘piggy bank’

‘We are not picking winners’: Willis on gas transition loan

The Labour Party wants the Budget to focus on productivity

The writing was on the wall at the FMA

Origin Capital opens third kiwifruit fund

NZX50 rallies as F&P's intake overcomes Infratil’s exhale

Sluggish housing market to weigh on Ryman's resale margins

AI the ‘opportunity of a lifetime’ – Infratil

NZK boss: Sanford has ‘opportunity to ride on our coattails’

FMA refuses to release second KC report

FMA refuses to release second KC report

How to handle a deluge of private information requests

How to handle a deluge of private information requests

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

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

Unlocking Aotearoa: TPT Group founder Mike Marr

Extraordinary payments and their $2m capital raise

Climate law change to block emissions liability claims

Budget will not be an election year give-away

Unlocking Aotearoa: Malcolm Jackson

PM Christopher Luxon joins the NBR Podcast

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

The relief of Singapore

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

Unlocking Aotearoa: Dame Joan Withers

The Winston Peters effect

The journalist making the news

Art Fair expands as Māori voices lead

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

The Accountants: Full Investigation

The Accountants: Some KPMG staff already using AI agents

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

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

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

Conflict: RBNZ discusses impact on inflation

Should NZX directors own the companies they govern?

Investors wait for ailing CSL to recover

Supply shock now embedded in expectations, not just pump price

Books alive! Festivals boom as authors draw thousands

Investment

Goodman bumps npat by 126% on valuation gains

F&P Healthcare weighs on NZX50 ahead of earnings

Another WasteCo director bites the dust

Economics

Businesses not expecting any Budget treats

Diesel price up near 100% as Iran war bites manufacturers

SME lending transparency needs to be similar to mortgages: RBNZ

Politics

‘We are not picking winners’: Willis on gas transition loan

Buy back BNZ, Public Service, social housing cuts

Government takes ‘hard choices’ on reforming social housing

Te Ao Māori