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Market Review

US central bank shifts from ‘patience to panic’

An expected rate cut by the Fed, the onward march of AI, and surging gold prices belied what was otherwise a choppy week on global markets.

Brent Melville Sat, 18 Oct 2025

Market Review

US central bank shifts from ‘patience to panic’

An expected rate cut by the Fed, the onward march of AI, and surging gold prices belied what was otherwise a choppy week on global markets.

Brent Melville Sat, 18 Oct 2025

Te Pāti Māori, wear a tie, local democracy, industrial action

ANALYSIS: The Green Party has warned Parliament’s Speaker Gerry Brownlee to not become the fashion police.

Beehive Banter

Te Pāti Māori, wear a tie, local democracy, industrial action

ANALYSIS: The Green Party has warned Parliament’s Speaker Gerry Brownlee to not become the fashion police.

Brent Edwards Sat, 18 Oct 2025

Students’ Say

Breaking in and burning out: A young Kiwi’s finance story

ANALYSIS: A recently graduated high school student is on a journey to find out how young analysts can get ahead in the finance sector.

Students’ Say

Breaking in and burning out: A young Kiwi’s finance story

ANALYSIS: A recently graduated high school student is on a journey to find out how young analysts can get ahead in the finance sector.

Jonty MacIntyre Sat, 18 Oct 2025

Featured Video: Dealmakers 2025

WATCH: NBR explores the state of the NZ M&A industry.

Featured Video: Dealmakers 2025

WATCH: NBR explores the state of the NZ M&A industry.

Sat, 18 Oct 2025

MARKET MOVEMENTS

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Air NZ, Air Chathams in ‘gamechanger’ agreement

Investment

DGL shares remain suspended, auditor not satisfied on inventory

Last Word

Why is the FMA trying to kill capital markets?

Investment

New Eroad chair surprised at value drop as company chases eRUC

Primary Industries

Alliance’s Dawn deal debate goes down to the wire

Politics

Businesses are not immune from the risks posed by organised crime

Market Review

US central bank shifts from ‘patience to panic’

Students’ Say

Breaking in and burning out: A young Kiwi’s finance story

Beehive Banter

Te Pāti Māori, wear a tie, local democracy, industrial action

Aviation News

Air NZ, Air Chathams in ‘gamechanger’ agreement

Featured Video: Dealmakers 2025

Aviation News

Wellington Airport offers two-storey views in new dining precinct

Primary Industries

‘It’s got a lot more potential,’ largest Rockit shareholder says

Hunter’s Corner

PGG Wrightson plumbs new depths

On the Money

How New Zealand exported both logs and jobs

Primary Industries

MyFarm’s Rockit apple fund tipped into voluntary administration

Primary Industries

Government will rely on technological advances to cut methane

General Business

Finbase blames its lawyers for FMA warning

ASB Classic tennis launches $40k debenture seating programme

A portion of the commitment to a five-year 1956 Seat will go to the Manuka Doctor Arena's $15m redevelopment.

Investment

Santana in $55m Bendigo Station land deal

Gold explorer adds 889ha to Central Otago land portfolio covering proposed mine project.

Private Bin

Bolger, delayed Du Val, frosty Neals, Simpsonillionaire

Our weekly collection of news bites, hot takes, and gossip around the town.

The NBR Rich List

Featured Rich Lister: Malcolm Dick

After exiting the Datagrid project, Dick’s telecommunications investments nowadays rest with a half-share in Hero Internet.

Featured

NBR Focus

Dealmakers 2025: From arm wrestles to handshakes

ANALYSIS: Average M&A transaction value has rocketed up despite a pause in deal-making due to Donald Trump’s tariff curve-ball.

Te Ao Māori

Whitireia returns to Ngāti Toa

The Porirua headland, once ruled a ‘nullity’ under Te Tiriti, has returned to Ngāti Toa Rangatira after 177 years.

Te Ao Māori

Whitireia returns to Ngāti Toa

The Porirua headland, once ruled a ‘nullity’ under Te Tiriti, has returned to Ngāti Toa Rangatira after 177 years.

NBR Focus

Dealmakers 2025: Distress, restructuring, and when to say ‘when’

Corporate asset sales, insolvency processes, and equity raise recapitalisations have contributed heartily to M&A advisers’ work this year.

NBR Focus

Dealmakers 2025: Distress, restructuring, and when to say ‘when’

Corporate asset sales, insolvency processes, and equity raise recapitalisations have contributed heartily to M&A advisers’ work this year.

NBR Focus

Dealmakers 2025: Adviser focus – BDO

Accounting firm had a hand in 25 closed deals during the year ended June 30, 2025, collectively worth just over $1 billion.

NBR Focus

Dealmakers 2025: Adviser focus – BDO

Accounting firm had a hand in 25 closed deals during the year ended June 30, 2025, collectively worth just over $1 billion.

Analysis

Edwards on Politics

When it comes to local elections, the smaller the better

ANALYSIS: The smallest council had the largest turnout of voters, while Auckland’s turnout was the lowest.

Brent Edwards Thu, 16 Oct 2025

Margin Call

The investment wardrobe – why diversification is always in style

ANALYSIS: Is AI a structural foundation for long-term returns, or simply the accessory currently drawing all the attention?

Lewis Fowler Tue, 14 Oct 2025

Shoeshine

Political will required to stimulate NZ’s capital markets

ANALYSIS: The flurry of takeovers and dearth of new listings shows bold action is needed from policy makers.

Nicholas Pointon Mon, 13 Oct 2025

Economy Matters

Retirement funding a slow unfolding crisis

ANALYSIS: The average KiwiSaver balance for people approaching retirement is often well below the amount needed to fund a ‘comfortable’ or even a ‘no-frills’ retirement lifestyle, alongside NZ Super.

Hillmarè Schulze Mon, 13 Oct 2025

Investment

Eroad co-CEO resigns as focus shifts from US to NZ eRUC market

Chair Susan Paterson replaced by John Scott as company takes $150m impairment on North American business.

Will Mace Fri, 17 Oct 2025

Good as gold: Uvre stock jumps 14.3% on debut

Entry price of 32 cents puts the junior miner on a market capitalisation of $60.7 million.

Brent Melville Thu, 16 Oct 2025

John Nichol appointed PGG Wrightson chair

Controlling shareholder Agria says its shock ousting of incumbent Garry Moore was ‘an opportunity to refresh the board’.

NBR Staff Thu, 16 Oct 2025

Economics

Negative rates would have been better during Covid, says RBNZ

Purchases of Government bonds crystallised big losses on the Crown balance sheet, but were the equivalent of cutting the OCR by 90 basis points.

Lachlan Colquhoun Wed, 15 Oct 2025

Reserve Bank addresses concerns about MPS gap

However, it insists there is no evidence that a 12-week gap over Christmas has caused problems.

NBR Staff Wed, 15 Oct 2025

First-home buyers to get easier access to credit

But RBNZ says debt-to-income restrictions will remain the same.

NBR Staff Tue, 14 Oct 2025

Politics

New national flood map to be developed as part of climate plan

Insurance Council welcomes the plan but says more urgency is needed.

Brent Edwards Thu, 16 Oct 2025

Jim Bolger was a man of conviction and principle, Luxon says

He was Prime Minister from 1990 to 1997.

Brent Edwards Thu, 16 Oct 2025

Government pension funds ponder more change to keep costs down

Boards of both funds have ‘a strong appetite for exploring structural change’.

Brent Edwards Tue, 14 Oct 2025

Te Ao Māori

Māui Toa targets $8.5m raise for fusion venture OpenStar

A Māui Toa national roadshow is rallying Māori investors behind fusion startup OpenStar, as a Māori Energy Summit begins.

Mike McRoberts Tue, 14 Oct 2025

Aquaculture readies for fast track

Minister Shane Jones expected to push the Government’s plan to fast-track New Zealand’s aquaculture growth toward a $3b target, as the sector opens its annual conference in Nelson today.

Mike McRoberts Wed, 08 Oct 2025

Independent Traffic Control: keeping calm, carrying on

Award-winning Māori firm is holding steady through industry turbulence, from the collapse of a rival to the daily abuse faced by frontline crews.

Mike McRoberts Tue, 07 Oct 2025

Primary Industries

‘This business is an enigma’, says Rockit CEO

Grant McBeath says the company never intended to ‘bankroll growers’, following MyFarm fund’s voluntary administration this week.

Kate McVicar Wed, 15 Oct 2025

An Alliance roadshow: learning from ‘battle scars’

The meat processing co-op’s pitch to farmers for a $250m bailout hits Alexandra.

Tim Hunter Wed, 15 Oct 2025

‘It’s got a lot more potential,’ largest Rockit shareholder says

Key Rockit stakeholders remain committed to the snack apple company following the voluntary administration of MyFarm’s Rockit orchard.

Kate McVicar Wed, 15 Oct 2025

Australia

Myer slashes value of brands by A$213m on integration pain

The write-down on brands such as Just Jeans, Jay Jays and Portmans sent Myer to a full-year loss, with its shares slumping 26% yesterday.

Lachlan Colquhoun Wed, 24 Sep 2025

Aussie emissions target an opportunity for Kiwi aviation biofuels

New Zealand imports all its aviation fuel, but there is momentum for a trans-Tasman biofuels industry.

Lachlan Colquhoun Fri, 19 Sep 2025

Australia announces 2035 emissions reduction target of 62-70%

The government says committing to the target and early action will boost the economy.

Lachlan Colquhoun Thu, 18 Sep 2025

Tech & Innovation

Fear and loathing: Datacom CEO on the looming AI ‘correction’

Head of the country’s largest tech company says it’s a question of when rather than if AI stocks will be re-rated.

Brent Melville Wed, 15 Oct 2025

Why Soul Capital sold out of Kiwi security startup Starboard MI

Soul Capital CEO Jamie Newth calls the exit a ‘case study in impact venture capital’, as the company expands its AI ocean security tech into North America, Europe and the Indo-Pacific.

Fiona Rotherham Fri, 10 Oct 2025

Local space sector growing but global collaboration is essential

ANALYSIS: Space Minister Judith Collins says the Government will spend $5.3m on trans-Tasman space missions.

Will Mace Thu, 09 Oct 2025

Law

Court finds oppression, breach of duties in carbon case

Drylandcarbon co-founder Ant Beverley wins claim against investment bankers Will Leckie and Chris Morrison.

Tim Hunter Tue, 14 Oct 2025

Du Val will need to stump up with $46k for FMA’s legal costs

The FMA had sought costs against the Du Val founders following a judgment in July.

Brent Melville Mon, 13 Oct 2025

Employment law is in crisis and needs to be improved: Chief Judge

Judge Christina Inglis says employment disputes have become too costly, but the Minister says she is too busy to regulate employment advocates.

Fiona Rotherham Thu, 09 Oct 2025

Finance

‘Mixed’ response to KiwiSaver reforms as cabinet mulls decision

A decision from Cabinet on whether to proceed with legislation that would make it easier for KiwiSaver providers to invest in unlisted assets is expected this month.

Nicholas Pointon Wed, 01 Oct 2025

Forsyth Barr shareholders ‘overwhelmingly’ back Mercury deal

Sydney-based private equity firm Mercury Capital has taken a 25% stake in investment firm.

Hamish McNicol Fri, 19 Sep 2025

KiwiSaver funds hit $123b, schemes pocket $868.5m in fees

Contributions rose 8.8% to $12.2 billion for the year, although non-contributor numbers are also on the rise, the FMA says.

Brent Melville Wed, 10 Sep 2025

The NBR Podcast

Podcast #78: Dealmakers 2025

LISTEN: Jarden's Silvana Schenone and DLA Piper's Reuben Woods discuss this year's fifth annual NBR series.

Simon Shepherd Tue, 14 Oct 2025

Podcast #77: Sinead Boucher talks about Stuff

LISTEN: The media CEO bought the company for a buck five years ago and has now sold half of Stuff Digital to TradeMe.

Simon Shepherd Tue, 07 Oct 2025

Podcast #76: Health insurance – is it unaffordable?

LISTEN: Our biggest insurer Southern Cross has just posted another major deficit, so what’s driving the major premium increases?

Simon Shepherd Tue, 30 Sep 2025

General Business

GrabOne enters liquidation amid ‘funding constraints’

NZX-listed NZME sold the daily deals business to its current owner in 2021 for $17.5m.

NBR Staff Thu, 16 Oct 2025

Finbase blames its lawyers for FMA warning

The non-bank lender was pinged for various disclosure and advertisement breaches.

Nicholas Pointon Wed, 15 Oct 2025

Safe at home? Not directors, not this year

ANALYSIS: Many New Zealand directors say they have suffered similar threats at their homes as Winston Peters.

Thu, 09 Oct 2025

Deals

First Sentier exits energy networks in double transaction

Brookfield to buy gas pipelines, Powerco to buy Eastland electricity lines.

NBR Staff Mon, 06 Oct 2025

Ending the mundane: accounting AI firm Aider acquired by US firm

San Francisco-based Karbon, founded by three former Xero employees, buys New Zealand firm for undisclosed sum.

Hamish McNicol Wed, 01 Oct 2025

Altered Capital takes 75% stake in e-waste recycler

Echo Technology Lifecycle Solutions plans to open a processing facility in the South Island.

Kate McVicar Wed, 10 Sep 2025

Tourism

Tourism Holdings’ lane change on emissions

World’s largest RV operator has reset its ‘baseline’ target, and measures just 1% of its greenhouse gas emissions inventory.

Brent Melville Fri, 10 Oct 2025

Govt ploughs $70m into events and tourism

The level of investment in events will allow New Zealand to compete with Australia to host big acts, Tourism Minister says.

NBR Staff Sun, 14 Sep 2025

THL signals divestment of Euro business after $25.8m loss

It will likely be another year of chopping and changing for the world’s biggest campervan operator with a ‘strategic review’ heralding a divestment from its UK and Ireland business.

Brent Melville Tue, 26 Aug 2025

Infrastructure

Watercare faces up to $600m ‘sludge’ problem

The utility admits it hasn’t made provision in its 10-year plan for disposing of waste products, as it faces capacity limits at its biosolid dump site.

Brent Melville Thu, 16 Oct 2025

Minister confident shipyard will deliver two new ferries on time

Details of the deal will be announced later this year.

Brent Edwards Tue, 14 Oct 2025

Govt looks to sell Chorus securities

Sale could proceed early next year, but final price will have to meet ministers’ ‘value-for-money expectations’.

NBR Staff Fri, 10 Oct 2025

Property

Domino effect: Amaia developer falls, with another five companies

Companies could owe more than $21m to creditors, and on the hook to the IRD for another $14.7m.

Brent Melville Mon, 13 Oct 2025

New AI tool designed to expose NZ’s rogue builders

The tool was developed by an Auckland software engineer who took a costly hit on his new home build.

Brent Melville Fri, 10 Oct 2025

Hybrid-office lease model grabs $1b Auckland beachhead

The Quattro Alberts Group has carved a niche in catering to small and medium-sized businesses in the Auckland CBD, snapping up secondary office blocks and building on a ‘'brown-to-green’ investment ethos.

Brent Melville Wed, 08 Oct 2025

Professional Services

Four partners depart Meredith Connell following restructure

Law firm strategic review sees focus return to public interest litigation.

Hamish McNicol Fri, 10 Oct 2025

Disappointment as $15m legal fidelity fund winds up

The Law Association claims it is unfair the Law Society will get about two-thirds of the defunct Solicitors’ Fidelity Guarantee Fund.

Hamish McNicol Mon, 06 Oct 2025

Law firm Lowndes Jordan regularly fielding merger approaches

It has added two partners, including a lateral hire, while losing one to the High Court bench in the past two months.

Hamish McNicol Fri, 12 Sep 2025

NBR Focus

Dealmakers 2025: Adviser focus – Duncan Cotterill

The firm is optimistic for the period ahead, particularly as interest rates continue to fall and the macro environment improves.

Hamish McNicol Thu, 16 Oct 2025

Dealmakers 2025: Treat selling your SME like selling your home

How to get the best buck for your business.

Kate McVicar Thu, 16 Oct 2025

Dealmakers 2025: SME sales data shows 15% of vendors are over 65

Latest quarterly M&A report from ABC Business Sales includes age and ethnicity data for the first time.

Will Mace Thu, 16 Oct 2025

Retail

Maker Partners left $683k out of pocket by failed Huntaway

Pet food business specialising in wild proteins has gone into liquidation, while a US subsidiary continues to stack up losses.

Kate McVicar Thu, 16 Oct 2025

Smiths City creditor debt surpasses $26.8m

Attempts to sell the failed home appliances and furniture retailer were unsuccessful.

Kate McVicar Thu, 09 Oct 2025

Failed Smiths City owes creditors $25.7m

Owner Colin Neal says the more than a century-old brand looks set to disappear from the New Zealand retail landscape.

Fiona Rotherham Wed, 24 Sep 2025

Luxury Property

Manson sells in St Heliers, Boomrock appeals to foreigners

St Heliers’ top development sites hit the market, while historic Wellington station is wrapped up as a property and hospitality offering for foreign golden visa holders.

Brent Melville Tue, 30 Sep 2025

Clipping foreign ban ‘won’t open the floodgates’ – realtor

Offshore buyers are ‘pretty savvy’ and opening the doors won't ramp up prices, Sotheby’s International says.

Brent Melville Wed, 27 Aug 2025

Queenstown’s $130m lux retreat sets new bar for room cost

Room rates at the Noctis, themed as a ‘day to night’ resort, are likely to be astronomical.

Brent Melville Mon, 11 Aug 2025

Aviation News

Australian aviators pay tribute to 50 years of NZ's Airtrainer

Tamworth Airport is hosting anniversary at former flying school.

Nevil Gibson Sat, 18 Oct 2025

Wellington Airport offers two-storey views in new dining precinct

The $20 million terminal upgrade has added 130 more seats.

Nevil Gibson Sat, 18 Oct 2025

Air New Zealand tests first battery-powered aircraft at Tauranga

The ALIA CX300 can carry up to 5.6 cubic metres of cargo for nearly 400km

Nevil Gibson Sat, 18 Oct 2025

Energy

Govt measures seen as positive for power companies

Shares rise for the big four gentailers but business groups see a missed opportunity.

Tim Hunter Wed, 01 Oct 2025

Frontier’s rejected electricity solution

The core problem in the market was caused by the Government, said Frontier Economics, and was best solved by focusing state investment on securing and selling thermal energy.

Tim Hunter Wed, 01 Oct 2025

Govt seeks bids to build LNG import terminal

In response to the Frontier report on the electricity market, the Government says it is committed to equity investment in Meridian, Mercury and Genesis, if required, to build more generation.

NBR Staff Wed, 01 Oct 2025

Rich List 2025

Featured Rich Lister: Hadleigh Bognuda

He set up a new company in the business of hotel development, perhaps to revive a plan to build an ultra-luxury lodge on the Waiheke Island property he bought from US billionaire Julian Robertson.

Karyn Scherer Thu, 16 Oct 2025

Featured Rich Listers: Jim and Rosemari Delegat

The siblings’ Delegat Group has felt the effect of US President Donald Trump’s sweeping global tariff impositions across the year.

Hamish McNicol Wed, 15 Oct 2025

Featured Rich Listers: Marris family

The past year has been tough for the wine industry in general, and no different for the Marris family, which remains optimistic about the US market at least.

Karyn Scherer Tue, 14 Oct 2025

Marketing & Media

Andrew Barclay appointed chair of TVNZ

The former Goldman Sachs NZ deal maker will join the board in November.

NBR Staff Tue, 30 Sep 2025

MediaWorks separates business into two

The radio arm will now be a standalone operation.

NBR Staff Wed, 10 Sep 2025

News Corp crown goes to Lachlan

Rupert Murdoch’s eldest son will take control of his media empire in a settlement of the family’s feud.

NBR Staff Tue, 09 Sep 2025

Comings & Goings

New appointment to Guardians board

Andrew Wilson spent more than 25 years with Goldman Sachs Asset Management in the United Kingdom.

Fri, 17 Oct 2025

NZX reshuffles its senior executive team

Changes at the stock exchange operator follow the departure of Smart chief executive Anna Scott earlier this year.

Thu, 16 Oct 2025

New chief executive for Te Omanga Hospice

Di Taylor will begin her new role on December 1.

Wed, 15 Oct 2025

US central bank shifts from ‘patience to panic’

US central bank shifts from ‘patience to panic’

Partnership with OpenAI sets AMD’s share price soaring

US Govt shutdown can’t dim AI’s rise-up

Free News Alerts

Te Pāti Māori, wear a tie, local democracy, industrial action

Te Pāti Māori, wear a tie, local democracy, industrial action

Breaking in and burning out: A young Kiwi’s finance story

Breaking in and burning out: A young Kiwi’s finance story

Featured Video: Dealmakers 2025

Featured Video: Dealmakers 2025

Air NZ, Air Chathams in ‘gamechanger’ agreement

DGL shares remain suspended, auditor not satisfied on inventory

Why is the FMA trying to kill capital markets?

New Eroad chair surprised at value drop as company chases eRUC

Alliance’s Dawn deal debate goes down to the wire

Businesses are not immune from the risks posed by organised crime

US central bank shifts from ‘patience to panic’

Breaking in and burning out: A young Kiwi’s finance story

Te Pāti Māori, wear a tie, local democracy, industrial action

Air NZ, Air Chathams in ‘gamechanger’ agreement

Featured Video: Dealmakers 2025

Wellington Airport offers two-storey views in new dining precinct

‘It’s got a lot more potential,’ largest Rockit shareholder says

PGG Wrightson plumbs new depths

How New Zealand exported both logs and jobs

MyFarm’s Rockit apple fund tipped into voluntary administration

Government will rely on technological advances to cut methane

Finbase blames its lawyers for FMA warning

ASB Classic tennis launches $40k debenture seating programme

Santana in $55m Bendigo Station land deal

Bolger, delayed Du Val, frosty Neals, Simpsonillionaire

Featured Rich Lister: Malcolm Dick

Dealmakers 2025: From arm wrestles to handshakes

Whitireia returns to Ngāti Toa

Whitireia returns to Ngāti Toa

Dealmakers 2025: Distress, restructuring, and when to say ‘when’

Dealmakers 2025: Distress, restructuring, and when to say ‘when’

Dealmakers 2025: Adviser focus – BDO

Dealmakers 2025: Adviser focus – BDO

When it comes to local elections, the smaller the better

The investment wardrobe – why diversification is always in style

Political will required to stimulate NZ’s capital markets

Retirement funding a slow unfolding crisis

Investment

Eroad co-CEO resigns as focus shifts from US to NZ eRUC market

Good as gold: Uvre stock jumps 14.3% on debut

John Nichol appointed PGG Wrightson chair

Economics

Negative rates would have been better during Covid, says RBNZ

Reserve Bank addresses concerns about MPS gap

First-home buyers to get easier access to credit

Politics

New national flood map to be developed as part of climate plan

Jim Bolger was a man of conviction and principle, Luxon says

Government pension funds ponder more change to keep costs down

Te Ao Māori

Māui Toa targets $8.5m raise for fusion venture OpenStar

Aquaculture readies for fast track

Independent Traffic Control: keeping calm, carrying on

Primary Industries

‘This business is an enigma’, says Rockit CEO

An Alliance roadshow: learning from ‘battle scars’

‘It’s got a lot more potential,’ largest Rockit shareholder says

Australia

Myer slashes value of brands by A$213m on integration pain

Aussie emissions target an opportunity for Kiwi aviation biofuels

Australia announces 2035 emissions reduction target of 62-70%

Tech & Innovation

Fear and loathing: Datacom CEO on the looming AI ‘correction’

Why Soul Capital sold out of Kiwi security startup Starboard MI

Local space sector growing but global collaboration is essential

Law

Court finds oppression, breach of duties in carbon case

Du Val will need to stump up with $46k for FMA’s legal costs

Employment law is in crisis and needs to be improved: Chief Judge

Finance

‘Mixed’ response to KiwiSaver reforms as cabinet mulls decision

Forsyth Barr shareholders ‘overwhelmingly’ back Mercury deal

KiwiSaver funds hit $123b, schemes pocket $868.5m in fees