NBR | Independent business news, Finance, Investment, Tech, Law

Hot Topic EARNINGS

Thu 21 May 2026 03:40:00pm

MARKET MOVEMENTS

Thu 21 May 2026 03:40:00pm

MARKET MOVEMENTS

Top Story

General Business

FMA boss Samantha Barrass will not seek another term

Her five-year term finishes at the end of next January.

Hamish McNicol Thu, 21 May 2026

General Business

FMA boss Samantha Barrass will not seek another term

Her five-year term finishes at the end of next January.

Hamish McNicol Thu, 21 May 2026

Infratil hits fresh high as Nvidia spurs gains across Asia

Tower tumbled as stormy weather knocked its first half.

Market Close

Infratil hits fresh high as Nvidia spurs gains across Asia

Tower tumbled as stormy weather knocked its first half.

Curious News Thu, 21 May 2026

Investment

Piercing company SkinKandy makes positive ASX debut

The issue price was at the upper end of the valuation, which may have capped demand and gains on listing.

Investment

Piercing company SkinKandy makes positive ASX debut

The issue price was at the upper end of the valuation, which may have capped demand and gains on listing.

Lachlan Colquhoun Thu, 21 May 2026

Primary Industries

Sale of South Island’s largest apple grower falls over

CAJ Apples agreed to sell to two Auckland businessmen two years ago, but the deal has collapsed.

Primary Industries

Sale of South Island’s largest apple grower falls over

CAJ Apples agreed to sell to two Auckland businessmen two years ago, but the deal has collapsed.

Karyn Scherer Thu, 21 May 2026

Quick Takes

Scott Technology CFO Mark O’Malley resigns

Scott Technology chief financial officer Mark O’Malley has resigned after "deciding to take up another opportunity" and will finish with the company on July 3. O'Malley joined the NZX-listed robotics company in July 2023. A company announcement said he had "made a significant contribution across the group, including supporting the company’s financial performance, commercial governance and strategic priorities". Scott Technology CEO Mike Christman thanked O'Malley for his contribution to the business and support through the transition period. “Mark has played an important role across the group during his time with Scott, and we thank him for his contribution and wish him well for the future,” said Christman. The company said a process to appoint his successor would begin shortly.

Blis Technologies reports double-digit annual revenue growth

Blis Technologies has reported revenue up 16% to $14.7 million for the year ended March, but net profit after tax declined to $700,000 from $800,000. The listed probiotic maker reported strong growth in its business-to-business ingredient and private label revenue, and continued business-to-customer momentum. Its earnings were impacted by a one-off supply chain cost increase of $900,000. After adjusting for this, its underlying ebitda for FY26 totalled $1.8m. During the year, Blis resolved its patent issue with two customers, which resulted in the patents being jointly owned and a five-year extension to the existing supply agreement. Blis also revised its license and distribution agreement with Probi AB, which extended Probi's rights to two probiotic strains across North America and certain markets across Europe, the Middle East and Africa. Probi AB holds 13% of Blis and is the company's second-largest shareholder.

Thu 21 May 2026 03:35:12pm

MARKET MOVEMENTS

Listen to NBR Podcast episodes

My Food Bag reaps benefits of portfolio approach

Investment

AFT Pharmaceuticals continues unbroken record of growth

Investment

Tower shares slump on weak result

Investment

Turners Auto raises red flag over Middle East conflict

Politics

Government takes ‘hard choices’ on reforming social housing

Edwards on Politics

Last Word

Blocking Smith v Fonterra a cynical use of Parliamentary power

TruScreen launches $2.94m capital raise to keep going

The NZ cervical cancer screening device company reported an unaudited FY26 loss of $2.2m.

Investment

Investore earnings down, but portfolio back above $1.1b

Stride scoops fees of $8 million on ‘enhanced project activity’, generated by selling its Silverdale Centre to a company it manages.

Deals

Craigs buys Hamilton Hindin Greene

Acquisition of Christchurch firm continues Craigs’ roll-up strategy.

General Business

Carbn Group snaps up Wellington ride share firm Mevo

The sale price is not disclosed but is ‘insufficient’ to allow a distribution to preferential and unsecured creditors.

Featured

Investment

T&G divisional divestment expected to require ComCom approval

Regulatory hurdles including an investigation into the impact on competition could push the handover of the New Zealand division out by months.

Professional Services

Country’s first pro bono legal network delivers 17,500 hours

Six firms signed up to the initiative, led by pro bono clearinghouse Te Ara Ture, with an annual target of 25 hours per lawyer.

Professional Services

Country’s first pro bono legal network delivers 17,500 hours

Six firms signed up to the initiative, led by pro bono clearinghouse Te Ara Ture, with an annual target of 25 hours per lawyer.

Economics

Businesses not expecting any Budget treats

Business optimism remains fragile while the economic recovery gets pushed to 2027.

Economics

Businesses not expecting any Budget treats

Business optimism remains fragile while the economic recovery gets pushed to 2027.

Tourism

Not worth ‘nickel and diming’ tourists, SkyCity boss says

The hotel and gambling operator is expecting the NZICC to pull an additional 500,000 annual visitors into its Auckland precinct within the next two years.

Tourism

Not worth ‘nickel and diming’ tourists, SkyCity boss says

Analysis

Underarm

Australia’s long list of infrastructure white elephants

ANALYSIS: Cautionary tales from a nation that continues to suffer from politicised decisions and poor planning.

Lachlan Colquhoun Wed, 20 May 2026

Margin Call

AI an organisational stress test

ANALYSIS: Businesses have built entire departments and management cultures around the same constraints that AI attacks.

Matt Logan Tue, 19 May 2026

Shoeshine

From books to bytes: Amazon’s AI influence in Australasia grows

ANALYSIS: Venturing into the belly of the beast to experience the fervour around AI-driven capability and commerce.

Will Mace Mon, 18 May 2026

Executive Health

How a bit of planning at home can help in the office

You’ll start the day on a better note if you can reduce the morning chaos of getting kids off to school.

Peter Bristow Sun, 17 May 2026

Investment

NZX50 sinks as investors clear decks for Contact selldown

Serko and Napier Port rallied on small earnings beats.

Curious News Wed, 20 May 2026

Napier Port shrugs off disruption from Middle East conflict

The NZX-listed port and economic bellwether has posted a strong set of interim financial results, amid the primary sector doing well.

Nicholas Pointon Wed, 20 May 2026

Serko reports narrowed loss, burns cash to bring AI tools to life

NZX- and ASX-listed travel management software company's full-year income is up by a third, but so is its spending.

Will Mace Wed, 20 May 2026

Economics

Diesel price up near 100% as Iran war bites manufacturers

The cracks are starting to show as businesses feel the cost pressure of the conflict.

Jonathan Mitchell Fri, 15 May 2026

SME lending transparency needs to be similar to mortgages: RBNZ

Green Party co-leader Chlöe Swarbrick also questions whether a softer housing market could impact lending to small businesses.

Brent Edwards Thu, 07 May 2026

Banks need better data on insurance cover, warns Reserve Bank

There is no system-wide mechanism for sharing individual insurance policy changes with banks.

Brent Edwards Thu, 07 May 2026

Politics

Govt to ease regulations on heavy vehicles to conserve fuel

Transporting NZ says the Government should not wait for the fuel crisis to get worse.

NBR Staff Wed, 20 May 2026

Govt to cut 8700 public service jobs

Finance Minister wants to save $2.4b through merging departments and AI efficiencies. Union calls it ‘wilful destruction’.

Simon Shepherd Tue, 19 May 2026

Buying back BNZ a ‘complex, clickbait’ idea, experts say

NZ First’s plan has been widely panned, including from the Prime Minister who termed it a $30b waste of money.

Jonathan Mitchell Mon, 18 May 2026

Te Ao Māori

Iwi backs fibre future with multi-million Rubisco investment

A Ngāi Tahu rūnanga investment in Rubisco is being pitched as more than capital, with Arowhenua looking at hemp supply, regional jobs and a stronger hand in natural materials.

Mike McRoberts Wed, 20 May 2026

Ngāi Tahu Tourism prepared for potential disruption

There is no question that rising fuel costs will impact the business at some stage, general manager Jolanda Cave says.

Mike McRoberts Fri, 15 May 2026

Ngāpuhi joins iwi fisheries collective

Ngāpuhi says joining a 20 member fisheries collective is about lifting returns, building scale, and freeing capacity for new investment opportunities.

Mike McRoberts Mon, 11 May 2026

Primary Industries

MyFarm Central Cherry Orchard raises capital at 95% haircut

‘It doesn’t matter how good you are as an investor or an asset manager, you can't outrun industry performance,’ MyFarm boss says.

Kate McVicar Thu, 14 May 2026

Temu for ag: GrowPay targets farm cost squeeze

Ross Hyland says his new rural finance and marketplace platform can cut farm input costs, free up working capital, and challenge the way farmers buy and borrow.

Mike McRoberts Wed, 13 May 2026

Rockit sells management subsidiary to help ‘simplify’ business

The snack apple company has sold Rockit Management Services to a local startup.

Kate McVicar Thu, 07 May 2026

Australia

Grocery giant Coles faces massive fine for misleading discounts

It is a big win for regulators, and a judgment against Woolworths on similar charges is expected later this year.

Lachlan Colquhoun Fri, 15 May 2026

Aussie government defends tax changes amid widespread anger

Shares in Australia’s biggest property lender, CBA, dropped by 10% on Wednesday on fears of the impact on property investment.

Lachlan Colquhoun Thu, 14 May 2026

Australia walks a fiscal tightrope in 2026 Budget

This year’s Budget requires some difficult decisions by the Government as it deals with a fiscal position already deteriorating before the hit from the Middle East conflict.

Lachlan Colquhoun Mon, 11 May 2026

Tech & Innovation

Cleantech company Cetogenix secures $23m UK water project

The major milestone should help kickstart interest in its Series A funding round.

Fiona Rotherham Wed, 20 May 2026

AI will affect industries from fashion to electricity: Deloitte

A TechWeek session explores how AI can boost supply chain transparency and energy efficiency.

Will Mace Tue, 19 May 2026

Hopes high for exports of first new fish species in decades

Earth Sciences NZ will decide next month whether to seek external investment for a new commercial haku farm.

Fiona Rotherham Fri, 15 May 2026

Law

A $2m Pyne Gould Corp paper trail

How a straightforward share transaction between George Kerr and Vadim Perelman ended up in a London court.

Tim Hunter Tue, 19 May 2026

Should you have to work with someone you don’t want to?

In an ERA determination considering the new remedies regime for personal grievances, two port employees had refused to work with a co-worker.

Fiona Rotherham Tue, 19 May 2026

Fresh evidence interrupts FNZ hearing

Arguments over jurisdiction are temporarily diverted by late affidavit.

Tim Hunter Thu, 14 May 2026

Finance

‘No significant fallout’ from Iran war yet, says Kiwibank

But business confidence to invest has fallen as growth plans go on the backburner.

Jonathan Mitchell Wed, 13 May 2026

Finance Now targets legacy banks with credit offer

The non-bank lender acquired the credit card business from The Warehouse Group in 2017.

Jonathan Mitchell Wed, 13 May 2026

Green Investment Finance wind-down ‘returns’ over $500m so far

‘We are a required seller, so there will be a discount naturally,’ says Sarah Minhinnick.

Brent Edwards Wed, 22 Apr 2026

The NBR Podcast

Podcast #104: what’s next for NZX as CEO exits

LISTEN: Mark Peterson’s been in charge of the country’s financial plumbing for nine years. So what does the outgoing NZX CEO make of his time at the top of the market?

Simon Shepherd Tue, 19 May 2026

Podcast #103: Prime Minister Christopher Luxon

LISTEN/WATCH: With the election six months away, Luxon sits down to talk hustling for fuel and whether he can keep the coalition together.

Simon Shepherd Tue, 12 May 2026

Podcast #102: Growers’ pains

LISTEN: The closure of McCain and Heinz Wattie’s frozen vegetable plants could knock out almost half the processing industry. New Zealand has such great soil and water, so why can’t vegetable growers and packers make a decent profit?

Simon Shepherd Tue, 05 May 2026

General Business

Nvidia revenue beats expectations; OpenAI prepares for IPO

And former Cuban President Raul Castro has been indicted in the US on murder charges.

Nicholas Pointon Thu, 21 May 2026

Trump was ‘hour away’ from new Iran strikes; US bond yields soar

And the director general of the WHO is ‘deeply concerned’ about the spread of Ebola.

Nicholas Pointon Wed, 20 May 2026

Jarden restructuring to clear ‘untenable dynamic’, source says

The investment bank brings in Pacific Equity Partners as passive shareholder, exits FirstCape.

NBR Staff Tue, 19 May 2026

Deals

Elevation equity fund gets new manager

Former portfolio manager Victoria Harris, co-founder of The Curve, takes over global shares fund.

Tim Hunter Wed, 20 May 2026

Private capital investment dragged down $1b by fewer big deals

Valuation expectations a key challenge for 2026.

Fiona Rotherham Mon, 18 May 2026

Ora Pharm inks deal to buy Helius out of administration

The Waikato-based medicinal cannabis firm has signed a conditional agreement with Helius' administrators.

Nicholas Pointon Wed, 13 May 2026

Tourism

Auckland airline capacity still 7% below pre-pandemic levels

Jetstar and Qantas were largely responsible for surging Australian arrivals and 4% international passenger increase into Auckland Airport.

Brent Melville Tue, 19 May 2026

Not a mirage, as investors snap up units in Fijian Radisson Blu

New Zealand, Australian, and North American buyers – many with Fijian links – buy into the under-construction resort, attracted by a tax holiday of up to 13 years.

Brent Melville Sun, 10 May 2026

Billionaire Kwek Leng Beng picks The Mayfair

After a failed bid for NZ’s only listed hotel group, the Singaporean hotelier has selected the five-star hotel as the first in the southern hemisphere to join his elite collection.

Brent Melville Mon, 30 Mar 2026

Infrastructure

Water Minister the ‘missing actor’ in water reform

Call comes as Wellington’s water authority says annual rates could hit $7000 a year within the next decade, more than double Auckland’s.

Brent Melville Mon, 18 May 2026

Audit Office encourages Mbie to get LNG procurement process right

It says it will consider taking a further look at the process at a later stage.

Brent Edwards Thu, 14 May 2026

StraitNZ sets sale as Morgan Stanley looks to $1.2b exit

The global private equity fund bought the logistics and Bluebridge operator in March 2022, but has now appointed investment banks to promote its sale.

Brent Melville Tue, 12 May 2026

Property

Argosy shelves dividend reinvestment plan

Commercial real estate investor has identified surplus properties valued at about $139 million.

Brent Melville Wed, 20 May 2026

St James project owner snaps up adjoining properties

The Notable Properties Trust settled on two neighbouring properties yesterday, which would ‘simplify’ the restoration of the St James Theatre.

Brent Melville Thu, 14 May 2026

Exodus continues at JLL Auckland

The firm’s hotels and hospitality team has been razed by competitors, following a right-sizing that’s also seen office closures.

Brent Melville Wed, 13 May 2026

Professional Services

FMA’s ongoing ‘going concern’ concerns

Latest Financial Statements Monitoring Insights report highlights several areas of reporting concerns for the market regulator.

Hamish McNicol Thu, 09 Apr 2026

Lane Neave managing partner retires

He will be replaced by litigation partner Ben Russell.

Hamish McNicol Wed, 01 Apr 2026

New MinterEllisonRuddWatts boss talks up Australian opportunity

Former Vital Healthcare Property Trust CEO Aaron Hockly became the law firm’s head this month.

Hamish McNicol Tue, 31 Mar 2026

NBR Focus

Unlocking Aotearoa: TPT Group founder Mike Marr

WATCH: Our weekly series on what is holding Aotearoa back, and how we can unleash its potential.

Simon Shepherd Wed, 20 May 2026

Unlocking Aotearoa: FirstCape CEO Malcolm Jackson

WATCH: Our weekly series on what is holding Aotearoa back, and how we can unleash its potential.

Simon Shepherd Wed, 13 May 2026

Unlocking Aotearoa: Dame Joan Withers

WATCH: Our new weekly series on what is holding New Zealand back, and how we can unleash its potential.

Simon Shepherd Wed, 06 May 2026

Retail

Abe’s Bagels acquired by George Weston Foods

‘It made sense that they were the right partners to take the business forward,’ says the company’s CEO.

Kate McVicar Thu, 07 May 2026

How crashing Pandora’s party helped launch an eight-figure brand

After jewellery retailer Silvermoon went into liquidation, its founder Simon Thwaites came out of ‘semi-retirement’ to rebuild the company he started more than 20 years ago.

Kate McVicar Wed, 29 Apr 2026

The risks of extending the right to make a citizen’s arrest

The proposal could lead to unintended consequences, says BusinessNZ.

Brent Edwards Thu, 12 Mar 2026

Luxury Property

Flying the White Heron, Royal Yacht sale, golden visas ramp up

Luxury market picks up, partially on the back of surging international sales, with 15 applications received by international buyers under the so-called ‘golden visa’.

Brent Melville Wed, 29 Apr 2026

Glendowie golden visa, Bayswater watch, what £20k bought in 1967

Offshore buying proves a bright spot in otherwise slow recovery for high-end properties – and as Middle Eastern buyers start looking.

Brent Melville Wed, 25 Mar 2026

First Light’s Hickey sells in Ongaonga, Seselj buys in Herne Bay

‘You wouldn’t want to leave your cell phone at one end of this home’, realtor says.

Brent Melville Wed, 25 Feb 2026

Aviation News

Air NZ adds three new Christchurch international flights

National carrier says the new routes are part of an agreement with Christchurch Airport to expand international connectivity into the South Island.

NBR Staff Wed, 20 May 2026

Panel fast-tracks seawall project for Wellington Airport

Annual result shows higher revenue but lower net profit.

Nevil Gibson Sun, 17 May 2026

Lufthansa-equipped B777-9 makes first test flight

Carry On: AirAsia’s A220s, Scoot’s A320s, Blue Group plan.

Nevil Gibson Sat, 16 May 2026

Energy

ComCom says less competition can be necessary in a crisis

Fuel crisis has shown NZ’s competitive landscape remains strong, although utilities remain the country’s least competitive sector, it says.

Brent Melville Thu, 14 May 2026

Lack of transparency cited as Maersk, MSC clip on fuel surcharges

Maersk’s fuel surcharge will add 27% to its land-based pricing, while other carriers had applied various surcharge mechanisms that weren’t as ‘clearly separated’.

Brent Melville Tue, 05 May 2026

EA shuts down probe after ‘limited engagement’

An investigation into electricity prices and contracts for business users went nowhere as businesses reluctant to come forward.

Tim Hunter Mon, 04 May 2026

Rich List

40 years of the Rich List: the first international list in 2012

In the lead-up to the 40th edition of the Rich List in June, NBR is opening the archives to reproduce some of the best content from the past four decades.

NBR Staff Fri, 01 May 2026

40 years of the Rich List: 2006 Trade Me sale’s 17 millionaires

In the lead-up to the 40th edition of the Rich List in June, NBR is opening the archives to reproduce some of the best content from the past four decades.

NBR Staff Fri, 27 Mar 2026

40 years of the Rich List: Graeme Hart named first billionaire

In the lead-up to the 40th edition of the Rich List in June, NBR is opening the archives to reproduce some of the best content from the past four decades.

NBR Staff Fri, 27 Feb 2026

Marketing & Media

MediaWorks said to be up for sale as it gets back in the black

A report from across the Tasman says the radio broadcaster’s private equity owner is soliciting bids for the business.

NBR Staff Tue, 21 Apr 2026

TVNZ’s interim profit falls as one-off costs bite

The state broadcaster will pay an interim dividend of $1.3m to the Crown.

NBR Staff Fri, 06 Mar 2026

Leaked emails reveal SkyCity breached NBR copyright

The listed casino operator had been distributing PDF copies of NBR articles to staff using just one subscription.

NBR Staff Wed, 21 Jan 2026

Comings & Goings

New chair for New Zealand Farm Assurance

Craig Hattle brings more than 20 years of executive leadership and governance experience to the organisation.

Thu, 21 May 2026

New chair for business incubator the Icehouse

Duncan McFarlane will replace David Downs, who is leaving to head Education New Zealand

Wed, 20 May 2026

AFT Pharmaceuticals appoints CFO

Stuart Houliston joins the company from Sanford, as the chief financial officer, on June 15.

Mon, 18 May 2026

FMA boss Samantha Barrass will not seek another term

FMA boss Samantha Barrass will not seek another term

Mbie review confirms FMA has a culture problem

FMA chair Craig Stobo resigns following investigation

Free News Alerts

Infratil hits fresh high as Nvidia spurs gains across Asia

Infratil hits fresh high as Nvidia spurs gains across Asia

Piercing company SkinKandy makes positive ASX debut

Piercing company SkinKandy makes positive ASX debut

Sale of South Island’s largest apple grower falls over

Sale of South Island’s largest apple grower falls over

Scott Technology CFO Mark O’Malley resigns

Blis Technologies reports double-digit annual revenue growth

Title

My Food Bag reaps benefits of portfolio approach

AFT Pharmaceuticals continues unbroken record of growth

Tower shares slump on weak result

Turners Auto raises red flag over Middle East conflict

Government takes ‘hard choices’ on reforming social housing

A Budget aimed at not losing the election

Sale of South Island’s largest apple grower falls over

FMA boss Samantha Barrass will not seek another term

A Budget aimed at not losing the election

T&G divisional divestment expected to require ComCom approval

Nvidia revenue beats expectations; OpenAI prepares for IPO

Country’s first pro bono legal network delivers 17,500 hours

How to boost confidence in private assets

Govt to cut 8700 public service jobs

Govt wants Super Fund to widen its NZ investment

Peters says NZ First would buy back BNZ

Sale of South Island’s largest apple grower falls over

Blocking Smith v Fonterra a cynical use of Parliamentary power

TruScreen launches $2.94m capital raise to keep going

Investore earnings down, but portfolio back above $1.1b

Craigs buys Hamilton Hindin Greene

Carbn Group snaps up Wellington ride share firm Mevo

T&G divisional divestment expected to require ComCom approval

Country’s first pro bono legal network delivers 17,500 hours

Country’s first pro bono legal network delivers 17,500 hours

Businesses not expecting any Budget treats

Businesses not expecting any Budget treats

Not worth ‘nickel and diming’ tourists, SkyCity boss says

Not worth ‘nickel and diming’ tourists, SkyCity boss says

Unlocking Aotearoa: TPT Group founder Mike Marr

Extraordinary payments and their $2m capital raise

Climate law change to block emissions liability claims

Budget will not be an election year give-away

Unlocking Aotearoa: Malcolm Jackson

PM Christopher Luxon joins the NBR Podcast

“Lead your own reform or we will do it for you”

The relief of Singapore

Deepfake ad using doctor’s identity a ‘public safety risk’

Unlocking Aotearoa: Dame Joan Withers

The Winston Peters effect

The journalist making the news

Art Fair expands as Māori voices lead

Michael Hill CEO: ‘I’m not a patient person’

The Accountants: Full Investigation

The Accountants: Some KPMG staff already using AI agents

The Accountants: Turning EY into a one-stop-shop

The Accountants: PwC and the end of human-only workforces

The Accountants: Deloitte sees AI freeing up 25% of capacity

Conflict: RBNZ discusses impact on inflation

Australia’s long list of infrastructure white elephants

AI an organisational stress test

From books to bytes: Amazon’s AI influence in Australasia grows

How a bit of planning at home can help in the office

Investment

NZX50 sinks as investors clear decks for Contact selldown

Napier Port shrugs off disruption from Middle East conflict

Serko reports narrowed loss, burns cash to bring AI tools to life

Economics

Diesel price up near 100% as Iran war bites manufacturers

SME lending transparency needs to be similar to mortgages: RBNZ

Banks need better data on insurance cover, warns Reserve Bank

Politics

Govt to ease regulations on heavy vehicles to conserve fuel

Govt to cut 8700 public service jobs

Buying back BNZ a ‘complex, clickbait’ idea, experts say

Te Ao Māori