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Court rules against ANZ on class action claim
Tim Hunter
Tue, 05 May 2026
Tue 05 May 2026 04:46:17pm
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Tue 05 May 2026 04:46:17pm
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Trade Window reports 20% rise in annual revenue
Trade Window has reported a 20% rise in annual trading revenue despite a “volatile” economic environment, which the company said showed the critical nature of its trade-related software products.
In an operational update ahead of its full-year results due out later this month, the NZX-listed trade software provider did not state its profit for the year, but noted revenue had hit $9.6 million in FY25.
Annual recurring revenue had climbed to $10.1m at the end of March, up 17% on 12 months earlier.
Average revenue per customer per year was up by 22% for ‘shipper’ clients and 27% for freight forwarders.
Gross margin rose three percentage points to 63% between the end of Q3 and Q4.
The company said its fourth quarter showed recovery from softer-than-anticipated Q3 seasonal export volumes, supported by resumption of normal export activity across key primary industry customers and continued onboarding of new accounts in both the shipper and freight forwarder segments.
Databricks to invest $511m and train 100,000 learners across ANZ
Global data management and AI company Databricks has announced a US$300m ($511m) investment in the Australia and New Zealand market over the next three years, and will open a new regional headquarters in Sydney.
The private, San Francisco-headquartered company – which was most recently valued at US$134 billion – grew by more than 85% year on year across ANZ in the first quarter of the calendar year.
It has also committed to training 100,000 learners across the region over the next five years, through in-person and virtual bootcamps, hackathons, customer-led enablement programmes, and multi-city “learning festivals”.
“We’re seeing a clear shift from AI experimentation to impact across ANZ enterprises,” said Databricks country manager for ANZ, Adam Beavis.
“Organisations are moving beyond pilots into production – from improving customer experiences to streamlining operations. Our US$300m investment reflects the pace of adoption and our long-term commitment to the region.”
Three new directors appointed to ACC board
Three new directors have been appointed to the ACC board, with ACC Minister Scott Simpson saying they would play a key role in supporting the performance of ACC under its turnaround plan.
The three are Richard Keys, Lindsay Wright, and Michael Playford.
Keys was formerly CEO of Abano Healthcare Group and has governance roles that include Southern Cross Central Lakes Hospital and the Pacific Clinical Research Network.
Wright is on the boards of Spark New Zealand and the Guardians of New Zealand Superannuation, while Playford is an actuary.
“The combined skills of the newly appointed directors and their experience in health and disability, investment management, and actuarial forecasting will strengthen the board’s ability to deliver on the turnaround plan,” Simpson said.
Peter Jessup to leave NZX board for ASX role
Sydney-based Peter Jessup will retire as a director at the NZX in November, the stock exchange operator said on Tuesday.
Jessup has been a director for four years, having earlier been appointed to the NZX Technology Committee. He informed the board of is decision on Monday night after taking on a job at the ASX. The role is not in management or involved in any strategic business decisions, the NZX noted.
NZX chair John McMahon said Jessup had made a positive contribution.
“Peter has been a highly valued member of the NZX Board, bringing more than 35 years’ specialist financial markets technology and capital markets expertise to the table. His skills and knowledge in trading, surveillance, clearing, depository and settlement systems have been vital to ensuring NZX continues to maintain and invest in the right people, processes and technology fundamental to the effective running of markets.”
Jessup will remain a director until November 30.
Synlait gets debt covenant waivers
Bank lenders to milk processor Synlait have agreed to waive two covenants on its debt as the company faces “a number of headwinds outside of its control”.
In a brief statement to the NZX, Synlait said it had asked its banking syndicate to waive the quarterly minimum earnings before interest, tax, depreciation and amortisation threshold for the period ending April 30, as well as the interest cover ratio for April 30.
Synlait’s interest cover covenant was waived for the January 31 reporting date, while the minimum ebitda event of review threshold was waived for the half year to January and amended for the two subsequent periods.
After completing the sale of its North Island assets on April 1, Synlait’s bank debt reduced to $200m from $400m.
The banking syndicate comprises ANZ, China Construction Bank, Bank of China, Rabobank, Industrial & Commercial Bank of China, Bank of Communications and Bank of East Asia.
KiwiRail pinged $400k for ferry grounding, lack of training
The Wellington District Court on Monday fined KiwiRail $375,000 for failures leading up to the grounding of the Aratere in June 2024, during a freight sailing between Picton and Wellington. The court added another $25,000 at sentencing, after Maritime NZ prosecuted the rail and ferry operator for breaches under the Health and Safety at Work Act 2015.
The maritime safety regulator took a year to bring charges, after which KiwiRail pleaded guilty to charges under sections 48 and 36 of the Act.
Maritime NZ director Kirstie Hewlett said their investigation had found failures in KiwiRail's change-management processes and controls, with a clear knowledge gap about how to work critical steering functions.
There were 39 crew members and eight passengers on board when it ran aground at Titoki Bay in Picton Harbour on June 21. The ferry was refloated the following evening with no injuries.
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Tue 05 May 2026 04:38:32pm
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