In case you missed it: News bites for the week.
Jane Wrightson.
New Zealand’s Retirement Commissioner Jane Wrightson has advised the Minister of Commerce and Consumer Affairs that she will conclude her second term in early 2026 and not seek reappointment. Wrightson has led the Retirement Commission for nearly six years, overseeing research, policy advice on retirement incomes and villages, and public education to support New Zealanders’ financial wellbeing. This included prompting the first substantive review of the Retirement Villages Act, with a decision expected on legislative changes by the end of 2025, and championing the compulsory inclusion of financial education in schools, announced in April. Commerce and Consumer Affairs Minister Scott Simpson acknowledged Wrightson’s leadership and advocacy for better financial capability and retirement outcomes.
Recruitment for the next retirement commissioner will begin shortly.
The liquidation of solar energy systems provider SolarZero has contributed to a loss of US$522.7 million ($890m) for BlackRock’s Global Renewable Power Fund III for the year to December.
Accounts filed in the UK for the fund’s holding company GRP III Regional Holdings reported the value of its SolarZero holding had been written down to zero after liquidators were appointed to the New Zealand company in November last year.
The holding had been carried at a value of US$163.7m at the 2023 balance date.
GRP II Regional Holdings reported that SolarZero had “faced significant challenges due to a combination of internal operational issues and external market pressures”.
The write-off represented the bulk of the fund’s realised losses for the year of US$254.8m. The fund reported a further US$167.9m of unrealised losses on its financial assets.
SolarZero was placed in liquidation after BlackRock decided not to provide further financial support to the company.
Jay Carlsen.
Data collection and consulting company Kantar has re-entered the public sector with the creation of a new role aimed at winning government clients.
The company today announced it has appointed Jay Carlsen as its newly created group account director for the public sector.
Kantar NZ chief commercial officer David Thomas told NBR the firm was re-entering the public sector after Kantar Global’s split of its public business in 2021 before selling it in 2022 to a private equity firm, which later rebranded it as Verian Group.
There was a lengthy non-compete clause following the deal, but that was lifted on September 1.
“We’re now allowed to go to talk to those people we talked to four years ago,” Thomas said.
Carlsen joins the firm from Verian, where he also worked as an account director.
Kantar describes itself as a data and insights consultancy that gathers information about the public’s wishes through various means and provides it to clients to inform their decision-making.
Todd McClay.
Trade Minister Todd McClay plans to strengthen trade links between New Zealand and Asia during high-level talks this week.
He departs today for Kuala Lumpur to attend a series of Association of Southeast Asian Nations (Asean) meetings.
The Asean area is New Zealand’s fourth-largest trading partner, with two-way trade now worth more than $29 billion each year.
McClay said his focus will be on advancing New Zealand’s priorities with overseas counterparts to give local businesses certainty in a volatile global trading environment.
During his visit, McClay will take part in the Regional Comprehensive Economic Partnership Ministers’ Meeting, the Asean Economic Ministers’ Closer Economic Relations Meeting, and the East Asia Summit Economic Ministers’ Meeting.
Sir Tumu Te Heuheu Tūkino VIII, paramount chief of Ngāti Tūwharetoa since 1997, has died overnight after an illness; he’d just turned 84.
He was widely respected for his steady leadership, especially in environmental protection and heritage, including Tongariro’s dual World Heritage status. He chaired the Māori Heritage Council and held national and international roles. He was made Distinguished Companion of the NZ Order of Merit in 2005 and accepted the knighthood version in 2009. He is survived by Lady Susan Te Heuheu and his whānau. Tangihanga details are yet to be confirmed.
Air navigation services provider Airways New Zealand has reported net profit after tax of $11.9 million for the year to the end of June, with $10m going back to its government shareholder.
The State-owned enterprise noted that air traffic volumes remained at about 90% of 2019 levels during the period, which it acknowledged presented "challenges in a user-pay environment, with service level agreements in place for the provision of air traffic services".
It said, over the year, it had safely managed 492,037 flights through the 30 million square kilometres of airspace it controls.
The 2026 financial year would "present headwinds as the challenging fiscal environment in the industry continues" it said, while noting the long-term outlook for New Zealand air traffic was "positive".
"We will continue to balance cost management in the current industry context with our obligations to provide a safe, efficient and reliable service now and into the future," said Airways board chair Denise Church.
AJ Smith.
Trade Window Holdings has raised $1.03 million via an equity placement to help strengthen its balance sheet. The NZX-listed trade-related software company is set to issue 5,438,196 new ordinary shares to existing and new shareholders at $0.19 per share, which is a 9% discount to the volume-weighted average price of the shares traded on the NZX over the past 90 days. TradeWindow CEO AJ Smith said the company was delighted with the support received via the placement. "The new capital supports our dual listing; a move we expect to open the door to a broader pool of institutional and retail investors familiar with our technology and the international opportunities we enjoy." Smith reiterated guidance given at the company’s AGM last month, that the company expected to achieve earnings breakeven for FY26, and said it would provide an update on trading for the three months and the half year to the end of September 2025, in October.
NZX-listed investment company Infratil says its 49.8%-owned datacentre developer CDC has contracted a further 100MW of capacity and remains on track to double its 2025 earnings by the 2027 financial year. In the year to March 2025, CDC reported earnings before interest, tax, depreciation, amortisation and financial instruments of A$329.7 million ($371m). Infratil chief executive Jason Boyes said the news emphasised the strong demand in the Australasian data centre market. “With other contracts signed since May, approximately 95% of forecast lease revenues are now under contract, and we remain confident in contracting the remaining capacity,” he said.
Ryman Healthcare will dual list on the Australian Stock Exchange on October 1. The company signalled its intention to seek a foreign exempt listing on the Australian market in February, when it announced its billion-dollar capital raise. The move aims to broaden the company’s shareholder base and improve liquidity. In a statement announcing the dual-listing date this morning, the company said its primary listing would remain in New Zealand. The retirement village and aged care provider first expanded into Australia in 2014 and now has nine villages across the Tasman. Ryman’s shares are down 50% this year to $2.35 each.
AFT Pharmaceuticals has reported a positive result from its phase III clinical trial of its intravenous iron development project which is targeting an addressable market worth US$7.4 billion. Managing director Dr Hartley Atkinson said the study had supported the potential patient benefits of the new medicine and shown better tolerability and fewer side effects than other IV iron medicine on the market. “We are now preparing to launch a large-scale study to support global regulatory approval of the medicine,” he said. The iron infusion treatment, being developed with its European partner Hyloris, requires a global 800-patient clinical study. In a September quarter update today, AFT reported sales were tracking in line with its goal of $300m in annual revenue in FY27. In the second quarter of FY26, it has had growth across all regions, led by its Australian and international business. AFT’s half-year result will be reported on November 20. It made record revenue of $208m in FY25.
Petroleum operators can now apply for new exploration permits outside onshore Taranaki after the Government introduced an open market pathway alongside the Block Offer tender process. Resources Minister Shane Jones says the move is needed to rebuild confidence in the gas sector and address energy security gaps caused by the 2018 exploration ban. A new $200 million fund for co-investment in gas fields was outlined in this year's Budget. Hobby miners can also access a simplified permit system under a new Tier 3 category, making it easier to undertake small-scale gold mining.
Wools of New Zealand has signed a partnership agreement with Chinese manufacturer Anmao, as the farmer-owned company looks to grow demand in China and around the world. Wools of New Zealand chief executive John McWhirter said China was an important trading partner and already purchased 40% to 50% of New Zealand strong wool. McWhirter said Chinese manufacturers wanted to ensure they had a reliable source of high-quality raw natural supply, and the customers of Wools of New Zealand wanted to partner with a company owned by New Zealand sheep farmers. “China has a significant manufacturing capability to produce products at scale. Through working in partnership with Chinese manufacturers who supply some of the big retail brands in the US and Europe, we can access the rest of the world and promote the New Zealand wool brand.” Wools of New Zealand has also renewed ties with two other companies, Saibosi and Yangxin Ruixin.
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