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Fletcher Building has lowered the top end of its 2024 earnings guidance by $110 million on weaker market conditions and a notable slowdown in NZ house sales.

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Shoeshine

Is New Zealand really ‘open for business’?

ANALYSIS: A 2011 plan to become an international funds domicile hasn’t come to fruition, but it may still have legs.

Will Mace Mon, 13 May 2024

Shoeshine

Is New Zealand really ‘open for business’?

ANALYSIS: A 2011 plan to become an international funds domicile hasn’t come to fruition, but it may still have legs.

Will Mace Mon, 13 May 2024

Banking’s golden run stalls as economies cool

ANALYSIS: Results from the Big Four banks last week were solid enough, but the market might have to wait some time for new profit records to be set.

Investment

Banking’s golden run stalls as economies cool

ANALYSIS: Results from the Big Four banks last week were solid enough, but the market might have to wait some time for new profit records to be set.

Lachlan Colquhoun Mon, 13 May 2024

Australia

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.

Australia

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.

Dan Purves Mon, 13 May 2024

Market Outlook

Market looks for indicators of local headwinds and US inflation

Jarden economist and strategist John Carran looks at the week ahead.

Market Outlook

Market looks for indicators of local headwinds and US inflation

Jarden economist and strategist John Carran looks at the week ahead.

Will Mace Mon, 13 May 2024

MARKET MOVEMENTS

NBR RADIO - TOP STORIES OF THE WEEK

Steve Smith on disrupting conventional winery model

Your Business

Good Sh*t Soda aims to be No 1 in helping with No 2s

Business

Entrepreneurial brothers take on deck sector

Morning Brew

Russia advances in Ukraine; UK economy expands

On the Money

Implications of Spiva study for NZ retail investors

Book Review

Behind the scenes: Hemingway in 1920s Spain

Shoeshine

Is New Zealand really ‘open for business’?

Your Business

Good Sh*t Soda aims to be No 1 in helping with No 2s

Business

Steve Smith on disrupting conventional winery model

Business

Entrepreneurial brothers take on deck sector

Investment

Banking’s golden run stalls as economies cool

Market Outlook

Market looks for indicators of local headwinds and US inflation

Investment

ANZ sends 100 high-skilled IT jobs to India in offshoring blitz

Politics

Coalition Government promises to fix gas shortage

Business

Mike McRoberts joins NBR as Te Ao Māori editor

Whatever happened to ...?

Whatever happened to ... Ivan Erceg?

Edwards on Politics

Press freedom increasingly coming under attack

Politics

‘Wasted money’: Labour critical of Govt’s social rebrand

Crafar appeal against Todd Corp solar farm fails

Former dairy farmer had argued the solar farm would hollow out the dairy industry.

Business

Former Fonterra supplier Waitonui Holdings owed over $43.5m

Dairy giant Waitonui Holdings, once valued over $125m, collapsed under massive debts, pushing it into receivership.

Politics

Checks and balances needed on fast-track executive power

Without it ‘democracy is the loser,’ says the Chief Ombudsman, in a rare submission on legislation.

Law

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

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

Featured

Investment

Greg Foran: no reprieve on sky high airfare prices

Perfect storm of high fuel prices, low airline capacity, and significant investment in ground and air assets will serve to keep airfares in the clouds.

Business

Mike McRoberts joins NBR as Te Ao Māori editor

High-profile, award-winning journalist and broadcaster to shape narrative on key developments within Māori economy and ensure these stories receive the national attention they deserve.

Business

Mike McRoberts joins NBR as Te Ao Māori editor

High-profile, award-winning journalist and broadcaster to shape narrative on key developments within Māori economy and ensure these stories receive the national attention they deserve.

Whatever happened to ...?

Whatever happened to ... Ivan Erceg?

NBR profiles former New Zealand high fliers and their grand plans that have disappeared in the mists of time.

Whatever happened to ...?

Whatever happened to ... Ivan Erceg?

NBR profiles former New Zealand high fliers and their grand plans that have disappeared in the mists of time.

Beehive Banter

Water reforms, prison miscalculations, the Budget, woke food

ANALYSIS: Corrections Minister Mark Mitchell got his numbers badly wrong this week.

Beehive Banter

Water reforms, prison miscalculations, the Budget, woke food

ANALYSIS: Corrections Minister Mark Mitchell got his numbers badly wrong this week.

Analysis

Edwards on Politics

Press freedom increasingly coming under attack

ANALYSIS: ‘Without media, there is no democracy,’ the IFJ says.

Brent Edwards Thu, 09 May 2024

Underarm

Where do small airlines go to die?

ANALYSIS: The failure of regional carrier Bonza underlines the difficulty of breaking through Australia’s aviation duopoly.

Lachlan Colquhoun Wed, 08 May 2024

Margin Call

Winds of change blowing for NZX50 leadership

ANALYSIS: CEOs of NZX50 companies have itchy feet – is this an omen for future shareholder returns?

Zoie Regan Tue, 07 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

Business

Govt sinks talk of border carbon tax

Clipping a carbon tax on ‘dirty’ concrete or steel not on the table as Government looks to offshore manufacture.

Brent Melville Fri, 10 May 2024

No more ‘value judgments’ for targeting tourists – Matt Doocey

India has moved into the top 10 of international tourists, while Government shifts focus away from selling to ‘deserving’ visitors.

Brent Melville Fri, 10 May 2024

Risk-based pricing of insurance is both a positive and negative

AMI, State and NZI say they do not want to leave customers stranded.

Brent Edwards Thu, 09 May 2024

Politics

PPPs improve but other reasons for Transmission Gully problems

Infrastructure Commission says cost overruns affect all commercial models, not just Public Private Partnerships.

Brent Edwards Fri, 10 May 2024

‘Wasted money’: Labour critical of Govt’s social rebrand

Finance Minister Nicola Willis announced the new Social Investment Agency to a business crowd this morning.

Jonathan Mitchell Thu, 09 May 2024

Bill protecting directors’ home addresses needs to go further

The Institute of Directors says this issue is keeping directors ‘awake at night’.

Brent Edwards Thu, 09 May 2024

Investment

Warehouse sales slide as group reports third-quarter earnings

The retail group also confirmed online platform TheMarket’s fate.

Kate McVicar Fri, 10 May 2024

Scentre reports ‘pleasing’ operating conditions

Visitor numbers are up, along with revenues for the group and its tenants.

Lachlan Colquhoun Thu, 09 May 2024

Zespri licence revenue halves

While there was still demand for licences, the overall result continues a declining trend.

Kate McVicar Thu, 09 May 2024

Economics

Corporate tax take much lower than forecast

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

Brent Edwards Tue, 07 May 2024

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.

Brent Edwards Mon, 06 May 2024

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

Australia

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.

Dan Purves Thu, 09 May 2024

Race for Qantm heats up with IPH bid

AJ Park-owner IPH failed in its 2018 attempt to buy up its rival, but this time hopes a 13% premium on the shares will help it win out against two other firms.

Dan Purves Wed, 08 May 2024

Perpetual to be broken up and acquired by KKR in A$2.2b deal

Private equity firm acquiring the 138-year-old brand’s wealth and corporate trust businesses, leaving asset management side without a name.

Dan Purves Wed, 08 May 2024

Tech & Innovation

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.

Fiona Rotherham Thu, 09 May 2024

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.

Fiona Rotherham Wed, 08 May 2024

Māori Trustee office signs up to join new Microsoft cloud region

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

Will Mace Tue, 07 May 2024

Law

Mainzeal’s Richard Yan bankrupted

The failed construction company’s former boss hasn’t yet paid anything towards a Supreme Court order of $60m, liquidators say.

Maria Slade Thu, 09 May 2024

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.

Kate McVicar Fri, 03 May 2024

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

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

‘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.

Hamish McNicol Thu, 09 May 2024

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

Property

Carlin Hotel entities owe $34m

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

Maria Slade Mon, 06 May 2024

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.

Maria Slade Fri, 03 May 2024

‘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

NZ Aviation News

Emirates returns to Edinburgh in first A350 destinations

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

Nevil Gibson Sat, 11 May 2024

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

Comings and Goings

Seafood New Zealand CEO to leave in June

Dr Jeremy Helson is leaving to take up a new position at an Australian marine consulting firm.

Fri, 10 May 2024

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

Is New Zealand really ‘open for business’?

Is New Zealand really ‘open for business’?

Nicola Willis’s bold pitch for a ‘pro-growth’ economy

Nicola Willis’s plan to get the books and economy back in shape

Banking’s golden run stalls as economies cool

Banking’s golden run stalls as economies cool

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

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

Market looks for indicators of local headwinds and US inflation

Market looks for indicators of local headwinds and US inflation

Steve Smith on disrupting conventional winery model

Good Sh*t Soda aims to be No 1 in helping with No 2s

Entrepreneurial brothers take on deck sector

Russia advances in Ukraine; UK economy expands

Implications of Spiva study for NZ retail investors

Behind the scenes: Hemingway in 1920s Spain

Is New Zealand really ‘open for business’?

Good Sh*t Soda aims to be No 1 in helping with No 2s

Steve Smith on disrupting conventional winery model

Entrepreneurial brothers take on deck sector

Banking’s golden run stalls as economies cool

Market looks for indicators of local headwinds and US inflation

ANZ sends 100 high-skilled IT jobs to India in offshoring blitz

Coalition Government promises to fix gas shortage

Mike McRoberts joins NBR as Te Ao Māori editor

Whatever happened to ... Ivan Erceg?

Press freedom increasingly coming under attack

‘Wasted money’: Labour critical of Govt’s social rebrand

Crafar appeal against Todd Corp solar farm fails

Former Fonterra supplier Waitonui Holdings owed over $43.5m

Checks and balances needed on fast-track executive power

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

Greg Foran: no reprieve on sky high airfare prices

Mike McRoberts joins NBR as Te Ao Māori editor

Mike McRoberts joins NBR as Te Ao Māori editor

Whatever happened to ... Ivan Erceg?

Whatever happened to ... Ivan Erceg?

Water reforms, prison miscalculations, the Budget, woke food

Water reforms, prison miscalculations, the Budget, woke food

Press freedom increasingly coming under attack

Where do small airlines go to die?

Winds of change blowing for NZX50 leadership

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

Business

Govt sinks talk of border carbon tax

No more ‘value judgments’ for targeting tourists – Matt Doocey

Risk-based pricing of insurance is both a positive and negative

Politics

PPPs improve but other reasons for Transmission Gully problems

‘Wasted money’: Labour critical of Govt’s social rebrand

Bill protecting directors’ home addresses needs to go further

Investment

Warehouse sales slide as group reports third-quarter earnings

Scentre reports ‘pleasing’ operating conditions

Zespri licence revenue halves

Economics

Corporate tax take much lower than forecast

OECD adds its weight to the capital gains tax debate

Cyber attacks can threaten bank liquidity: RBNZ

Australia

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

Race for Qantm heats up with IPH bid

Perpetual to be broken up and acquired by KKR in A$2.2b deal

Tech & Innovation

Early-stage investment dives, new startups suffer

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

Māori Trustee office signs up to join new Microsoft cloud region

Law

Mainzeal’s Richard Yan bankrupted

Former Oceania boss denied rights to more than 100 honey barrels

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

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

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

More job cuts at EY in Australia

Mercury Capital acquires 40% stake in Findex

Property