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Spark has lowered the top-end of its earnings guidance by $50 million as public and private sector cuts deepen, leading to "significantly reduced" demand and delays to projects.

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Shoeshine

‘Axis of evil’ an obsolete description in emerging world order

ANALYSIS: Many believe the global south is on the rise. Should America’s enemies be ours too?

Dita De Boni Mon, 06 May 2024

Shoeshine

‘Axis of evil’ an obsolete description in emerging world order

ANALYSIS: Many believe the global south is on the rise. Should America’s enemies be ours too?

Dita De Boni Mon, 06 May 2024

Hamish Edwards commits more capital to Connectworks’ UK AML play

Xero co-founder and NBR Lister has seen another SaaS opportunity among the UK’s under-served accountancy firms.

Tech & Innovation

Hamish Edwards commits more capital to Connectworks’ UK AML play

Xero co-founder and NBR Lister has seen another SaaS opportunity among the UK’s under-served accountancy firms.

Will Mace Mon, 06 May 2024

Tech & Innovation

Respiratory eHealth firm Adherium opens A$6.8m entitlement offer

New Zealand-founded and ASX-listed company has raised A$1.57m in a placement to wholesale investors.

Tech & Innovation

Respiratory eHealth firm Adherium opens A$6.8m entitlement offer

New Zealand-founded and ASX-listed company has raised A$1.57m in a placement to wholesale investors.

Fiona Rotherham Mon, 06 May 2024

Investment

Spark cuts FY forecast on weak Govt & enterprise demand

Telco is seeing 'significantly reduced demand in IT service management and professional services'.

Investment

Spark cuts FY forecast on weak Govt & enterprise demand

Telco is seeing 'significantly reduced demand in IT service management and professional services'.

Will Mace Mon, 06 May 2024

MARKET MOVEMENTS

NBR RADIO - TOP STORIES OF THE WEEK

Global divergence on interest settings becoming more marked

Australia

Inflation miss turns some Aussie analysts into rate hawks

Economy Matters

Financial promise and NZ in global rankings

Investment

Tourism Holdings cuts profit guidance by 33%

Entrepreneurs

Serial entrepreneur builds luxury hemp oil skincare brand

Morning Brew

Israel shuts Gaza crossing; Xi travels to Europe

Shoeshine

‘Axis of evil’ an obsolete description in emerging world order

Tech & Innovation

Hamish Edwards commits more capital to Connectworks’ UK AML play

Entrepreneurs

Serial entrepreneur builds luxury hemp oil skincare brand

Investment

Spark cuts FY forecast on weak Govt & enterprise demand

Investment

Tourism Holdings cuts profit guidance by 33%

Market Outlook

Global divergence on interest settings becoming more marked

Politics

Chlöe Swarbrick adamant tax reform is needed

Property

Funding ‘matter of when, not if’, Du Val assures subbies

Politics

James Shaw to join Morrison, new investment firm

Property

Du Val ‘misrepresented’ dispute to get court order: Judge

Economics

Exporters need knowledge of ‘explosion’ of green trade rules

Tech & Innovation

Weirdly acquired by Inside Recruitment for ‘nominal sum’

The buck stops here, as CEOs exit

ANALYSIS: While we don’t know what goes on behind boardroom doors, it’s safe to say it isn’t the vague, politely worded release put out to the stock exchange.

Australia

Jenkinson exits as chair of ASX-listed Pureprofile

The move comes a year after a dispute that saw Linda Jenkinson part ways with charity Unicef.

Law

Former Oceania boss denied rights to more than 100 honey barrels

Liquidators of formerly listed groups can now sell the honey, with proceeds headed to creditors.

Politics

Who got what during election year

Despite getting substantially more in donations National spent less than Labour during the regulated election period.

Featured

Property

Du Val ‘misrepresented’ dispute to get court order: Judge

Property group’s founders omitted key details about a falling out with their former friend and company CTO so they could gain an order freezing his assets, the court says.

Investment

‘We’re running as hard and as fast as we can’: NZX bosses

CEO Mark Peterson and chair John McMahon on levelling the regulatory playing field, the IPOs that got away, and the ASX.

Investment

‘We’re running as hard and as fast as we can’: NZX bosses

CEO Mark Peterson and chair John McMahon on levelling the regulatory playing field, the IPOs that got away, and the ASX.

Investment

Auckland Airport promises no gold and marble at new terminal

The airport unveils its ‘functional’ design, but critics say the project’s $3.9b price tag is too high.

Investment

Auckland Airport promises no gold and marble at new terminal

The airport unveils its ‘functional’ design, but critics say the project’s $3.9b price tag is too high.

Beehive Banter

Outrageous Green, ‘defamatory’ Peters, cuts and spending

ANALYSIS: Julie Anne Genter faces a disciplinary process and Winston Peters might be entangled in another defamation case.

Beehive Banter

Outrageous Green, ‘defamatory’ Peters, cuts and spending

ANALYSIS: Julie Anne Genter faces a disciplinary process and Winston Peters might be entangled in another defamation case.

Analysis

Book Review

Smartest guy in the room

The rise and fall of a financial trader.

Nevil Gibson Sun, 05 May 2024

Edwards on Politics

Political strategy based on better times to come

ANALYSIS: Coalition Government might be getting the bad news out of the way early in its term.

Brent Edwards Thu, 02 May 2024

Underarm

Sogavare eclipsed, but Australia’s Pacific dilemma persists

ANALYSIS: The Solomon Islands’ election could be seen as a setback for China’s regional ambitions, but the story has a long way to go yet.

Lachlan Colquhoun Wed, 01 May 2024

Margin Call

Making sense of volatility

ANALYSIS: What Nvidia and coin-tossing gods teach us about financial markets.

Nicholas Bagnall Tue, 30 Apr 2024

Business

Forestry sector concerned about East Coast regulation changes

The Gisborne District Council proposes raft of changes to forestry regulations that could reshape regional economy, but forestry sector is not convinced.

Liam Rātana Fri, 03 May 2024

Kōkako sold to Mojo Coffee

The Auckland-based coffee roaster believes new ownership can help it make the most of growth opportunities.

Kate McVicar Thu, 02 May 2024

FirstCape has no interest in Fisher Funds buy, CEO says

Malcolm Jackson also calls for KiwiSaver to be made compulsory.

Hamish McNicol Thu, 02 May 2024

Politics

Waikato University needs to follow good procurement processes

Public organisations spending public money need to explain what the money has been spent on.

Brent Edwards Fri, 03 May 2024

Peters says China could help ease global tensions

No surprise there are differences of opinions between the two countries, he says.

Brent Edwards Fri, 03 May 2024

Fast-track Approvals Bill could create new complexities

Law Society worries about legitimacy of decision making.

Brent Edwards Thu, 02 May 2024

Investment

Macquarie profits down 32%

Group cites weakening commodities, global markets and asset management businesses.

Dan Purves Fri, 03 May 2024

Abby Foote wins NZSA Beacon Award for Sanford, CCHL stances

Foote ‘demonstrated courage in standing up for her convictions and reflecting those to stakeholders,’ NZSA says.

NBR Staff Fri, 03 May 2024

Bapcor’s 24% share price fall ‘severe overreaction’

Despite management turmoil and earnings downgrades, Morningstar believes that the automotive aftermarket supplier holds a dominant position in the market that shouldn't be ignored.

Dan Purves Fri, 03 May 2024

Economics

Cyber attacks can threaten bank liquidity: RBNZ

The Reserve Bank itself was the victim of a cyber attack in December 2020 and has subsequently strengthened its own resilience to cyber risk.

Brent Edwards Thu, 02 May 2024

‘Worrying trend’: More unemployment pain to come this year

Opposition parties critical of coalition Government’s ‘dated and dismal’ politics.

Jonathan Mitchell Thu, 02 May 2024

Unemployment up to 4.3%, wage growth slows

Stats NZ data shows jobless rate rises as widely expected in March quarter.

Jonathan Mitchell Wed, 01 May 2024

New report being taken seriously by Australian Govt warns there could be no credible media in Pacific region in a decade, leaving Australia and allies vulnerable to malicious information operations breaking down social cohesion.

Dan Purves Thu, 02 May 2024

Aussie inflation at 3.6% points to 2025 rate cut

Inflation didn't fall as much as expected, but is still moving towards the RBA target.

Lachlan Colquhoun Wed, 24 Apr 2024

First Sentier shutters four investment teams, returns A$14b

Former Commonwealth Bank wealth management arm has lost clients to consolidation in superannuation industry and the move to internalise investment functions at big super funds.

Dan Purves Tue, 23 Apr 2024

Tech & Innovation

Macso opens $4m capital raise to bolster growth

The AI startup has previously been backed by Callaghan Innovation and Bridgewest Ventures NZ.

Kate McVicar Thu, 02 May 2024

Weirdly acquired by Inside Recruitment for ‘nominal sum’

Major shareholder Punakaiki Fund says ‘this is not one of the ones we’re talking about as a winner’.

Fiona Rotherham Wed, 01 May 2024

Google, Vocus to build new subsea fibre cable link to Auckland

However, increased capacity wouldn’t necessarily mean lower broadband prices for consumers and businesses.

Will Mace Wed, 01 May 2024

Law

Six years in the making: ComCom wins legal battle over Viagogo

The High Court has found the global ticket seller misled consumers and has to be more upfront in future.

Fiona Rotherham Wed, 01 May 2024

Former premier golf club faces liquidation amid $48m debt

Greg Olliver-owned Gulf Harbour Country Club suddenly closed last July due to being ‘financially unviable’.

Liam Rātana Fri, 26 Apr 2024

‘Not creating pseudolaw’: FMA releases liquidity risk guide

Not all fund managers give liquidity risk management enough attention, says director of markets, investors, and reporting.

Hamish McNicol Wed, 24 Apr 2024

Retail

NZ Fashion Week no longer annual, citing economic pressures

It's the latest in a string of unfortunate events for the retail sector.

Kate McVicar Thu, 02 May 2024

Retail facing ‘nasty sting in the tail’ after challenging years

A hard and gloomy winter could lie ahead for retailers.

Kate McVicar Mon, 15 Apr 2024

Trade Aid to close majority of stores

The incorporated society with 24 stores is shifting its strategy away from brick and mortar.

Kate McVicar Fri, 22 Mar 2024

Professional Services

More job cuts at EY in Australia

The cuts are the second since November, totalling around 3% of the total headcount.

Lachlan Colquhoun Wed, 17 Apr 2024

Mercury Capital acquires 40% stake in Findex

The Australasian wealth management and accounting firm hopes to triple in size over the next five years.

Liam Rātana Thu, 11 Apr 2024

Australian Senate slams PwC ‘cover up’ of tax scandal

The Senate report says the ongoing cover up is ‘incompatible’ with the firm restoring its reputation

Lachlan Colquhoun Thu, 28 Mar 2024

Property

‘Simply not credible’ documents on Wānaka deal don’t exist: Judge

Property developer Andrew McIntosh’s attempts to delay explaining what happened to $10m ‘speaks for itself’, judge says.

Maria Slade Thu, 02 May 2024

Funding ‘matter of when, not if’, Du Val assures subbies

Its lender is being ‘difficult’ but it is optimistic funds will come through, the property group’s CEO tells unpaid contractors.

Maria Slade Wed, 01 May 2024

Auckland Council U-turn on urban sprawl dampens land prices

Property on city’s rural/urban fringe is worth less than it was thanks to council’s change of heart on future development, agents say.

Maria Slade Mon, 29 Apr 2024

NZ Aviation News

Dubai to go ahead with mega-airport plan

Carry On: Big orders from Turkish, Indigo and Air China, Lufthansa’s new cabin.

Nevil Gibson Sat, 04 May 2024

Australian airline Bonza hits turbulence as fleet repossessed

Administrator appointed, saying future will depend on discussions with leasing company.

Nevil Gibson Wed, 01 May 2024

Qantas unveils catch-up wi-fi for international network

Carry On: Best airports, Fiji’s Canadian deal, Hawaiian’s first Dreamliner, big Moroccan order.

Nevil Gibson Sat, 27 Apr 2024

Comings and Goings

Spark NZ appoints new director to board

Lisa Nelson is currently based in the United States.

Fri, 03 May 2024

Ospri appoints new CEO

Sam McIvor takes up the role in August.

Tue, 30 Apr 2024

Te Whanganui A Orotu Taiwhenua appoints new CEO

Mat Mullany joins the Taiwhenua from the Office of the Auditor-General where he delivered the first Te Ao Māori Strategy and established a roopu of Māori leaders to advise the Auditor-General.

Mon, 29 Apr 2024

‘Axis of evil’ an obsolete description in emerging world order

‘Axis of evil’ an obsolete description in emerging world order

Pipe dreams as Aussie cannabis sector waits to light up

Callaghan Innovation’s conundrum: poacher and gamekeeper

Hamish Edwards commits more capital to Connectworks’ UK AML play

Hamish Edwards commits more capital to Connectworks’ UK AML play

Respiratory eHealth firm Adherium opens A$6.8m entitlement offer

Respiratory eHealth firm Adherium opens A$6.8m entitlement offer

Spark cuts FY forecast on weak Govt & enterprise demand

Spark cuts FY forecast on weak Govt & enterprise demand

Global divergence on interest settings becoming more marked

Inflation miss turns some Aussie analysts into rate hawks

Financial promise and NZ in global rankings

Tourism Holdings cuts profit guidance by 33%

Serial entrepreneur builds luxury hemp oil skincare brand

Israel shuts Gaza crossing; Xi travels to Europe

‘Axis of evil’ an obsolete description in emerging world order

Hamish Edwards commits more capital to Connectworks’ UK AML play

Serial entrepreneur builds luxury hemp oil skincare brand

Spark cuts FY forecast on weak Govt & enterprise demand

Tourism Holdings cuts profit guidance by 33%

Global divergence on interest settings becoming more marked

Chlöe Swarbrick adamant tax reform is needed

Funding ‘matter of when, not if’, Du Val assures subbies

James Shaw to join Morrison, new investment firm

Du Val ‘misrepresented’ dispute to get court order: Judge

Exporters need knowledge of ‘explosion’ of green trade rules

Weirdly acquired by Inside Recruitment for ‘nominal sum’

The buck stops here, as CEOs exit

Jenkinson exits as chair of ASX-listed Pureprofile

Former Oceania boss denied rights to more than 100 honey barrels

Who got what during election year

Du Val ‘misrepresented’ dispute to get court order: Judge

‘We’re running as hard and as fast as we can’: NZX bosses

‘We’re running as hard and as fast as we can’: NZX bosses

Auckland Airport promises no gold and marble at new terminal

Auckland Airport promises no gold and marble at new terminal

Outrageous Green, ‘defamatory’ Peters, cuts and spending

Outrageous Green, ‘defamatory’ Peters, cuts and spending

Smartest guy in the room

Political strategy based on better times to come

Sogavare eclipsed, but Australia’s Pacific dilemma persists

Making sense of volatility

Business

Forestry sector concerned about East Coast regulation changes

Kōkako sold to Mojo Coffee

FirstCape has no interest in Fisher Funds buy, CEO says

Politics

Waikato University needs to follow good procurement processes

Peters says China could help ease global tensions

Fast-track Approvals Bill could create new complexities

Investment

Macquarie profits down 32%

Abby Foote wins NZSA Beacon Award for Sanford, CCHL stances

Bapcor’s 24% share price fall ‘severe overreaction’

Economics

Cyber attacks can threaten bank liquidity: RBNZ

‘Worrying trend’: More unemployment pain to come this year

Unemployment up to 4.3%, wage growth slows

Australia

‘Weaponised information’ at highest level since Cold War

Aussie inflation at 3.6% points to 2025 rate cut

First Sentier shutters four investment teams, returns A$14b

Tech & Innovation

Macso opens $4m capital raise to bolster growth

Weirdly acquired by Inside Recruitment for ‘nominal sum’

Google, Vocus to build new subsea fibre cable link to Auckland

Law

Six years in the making: ComCom wins legal battle over Viagogo

Former premier golf club faces liquidation amid $48m debt

‘Not creating pseudolaw’: FMA releases liquidity risk guide

Retail

NZ Fashion Week no longer annual, citing economic pressures

Retail facing ‘nasty sting in the tail’ after challenging years

Trade Aid to close majority of stores

Professional Services

More job cuts at EY in Australia

Mercury Capital acquires 40% stake in Findex

Australian Senate slams PwC ‘cover up’ of tax scandal

Property