Australian funds dominate NZ’s mid-market investment in 2023

The latest NZ Private Capital Monitor shows overall investment activity down but mid-market buoyant.

 

Entrepreneurial brothers take on deck sector

Decking Direct has opened the first two of more than 50 planned stores.

Steve Smith on disrupting conventional winery model

Master of Wine and new Lincoln honorary doctorate recipient is creating a beacon for what New Zealand can do from the land – and shooting for world fame.

Concerns raised about parts of Government’s tax plan

Depreciation deductions should be restored as soon as fiscal pressures permit, say officials.

Second time round for charter schools

First charter schools will be up and running at the beginning of next year.

NZTA told it must stick to the budget for roads

The Government aims to deliver a transport system that boosts productivity but the Greens say it will boost emissions.

Reporting cycle could be ‘worse than GFC,’ as Fletcher downgrades

The country’s biggest building materials group has become the third major company to issue a profit downgrade in a week.

‘They’ve known of my frustration,’ Just life CEO says about NZX

Just Life Group is expected to delist from the NZX after 20 years.

Fletcher downgrades guidance on ‘tough’ residential market

Downgrade knocks an effective $75 million from expected group ebit, including restructuring costs.

Corporate tax take much lower than forecast

Net core Crown debt is $21 billion higher than the same time a year earlier.

OECD adds its weight to the capital gains tax debate

Capital gains tax should be part of a wider review of tax settings, it says.

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.

Australia bans live sheep exports

As New Zealand overturns its ban, Australia’s Labor Government will introduce legislation to stop the trade.

The big Budget question: will it make the RBA’s job harder?

Australian Treasurer Jim Chalmers has a delicate balancing act to perform on Tuesday.

JP Morgan fined A$775,000 for failing to stop market manipulation

The regulator spotted the market manipulation and informed JP Morgan of the breaches, which was then slow to respond.

Early-stage investment dives, new startups suffer

The latest Young Company Finance deal data show a 12% drop in funding for New Zealand startups in 2023, particularly marked in the second half.

Ex-pat Alex Kendall’s autonomous car startup Wayve raises US$1b

The Series C round for the UK-based startup was led by SoftBank and included Nvidia and Microsoft.

Māori Trustee office signs up to join new Microsoft cloud region

Imminent commissioning of onshore hyperscale data centres ticks boxes for Māori data framework.

Late CBL director’s estate wants FMA action thrown out

There can’t be a fair trial when one of the key people isn’t here, Alistair Hutchison’s estate argues.

‘Property Queen’ liquidation notice an ‘abuse of process’

Associate judge rules a creditor was too hasty in advertising an application to wind up Propellor Property Investments.

Ex-Property Ventures liquidator struck off, ordered to pay $188k

NZICA Disciplinary Tribunal latest in legal wrangling between Robert Walker and Dave Henderson.

NZ Fashion Week no longer annual, citing economic pressures

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

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

A hard and gloomy winter could lie ahead for retailers.

Trade Aid to close majority of stores

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

‘Hold and wait’: M&A activity slumps to three-year low

PwC's latest quarterly report shows just 26 deals were announced or completed in the first quarter of 2024.

More job cuts at EY in Australia

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

Mercury Capital acquires 40% stake in Findex

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

Carlin Hotel entities owe $34m

Receivers have put the boutique Queenstown hotel developed by the late Kevin Carlin up for sale.

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.

‘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.

Another airman to head NZ Defence Force

Air Vice-Marshal Tony Davies replaces Air Marshall Kevin Short on June 6.

Tax bite of $49m takes Wellington Airport into the red

But the two shareholders still received payouts.

Emirates returns to Edinburgh in first A350 destinations

Carry On: Delta’s Olympic livery; ATR, Embraer, and Bombardier orders; NetJets’ Challenger 3500 buyer.

Seafood New Zealand hires former diplomat Lisa Futschek as CEO

Savills NZ appoints new national director, retail sales, leasing

Chris Ireland will also head Christchurch operations as GM.

BlackRock expands NZ climate infrastructure team

Managing director and a portfolio manager in the team, Will Thomson will be based in Auckland.