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‘Money makes a difference’: Customs fights name suppression
Simon Shepherd
Tue, 02 Jun 2026
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Tue 02 Jun 2026 04:29:42pm
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Tue 02 Jun 2026 04:29:42pm
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Tue, 02 Jun 2026
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Tegel bought $339m worth of chicken, turkeys and eggs last year
Tegel Group's holding company Bounty Holdings has reported income of $24.6 million for the 12 months to December 2025, slightly down on the comparable period's $25m. Company register filings showed revenue was up 5.2% year-on-year to $896.5m. Tegel has been owned by Philippines-based Bounty Fresh since 2018, after it paid $438 million for the poultry producer, delisting it from the NZX in October of that year. The group listed purchases of "biological assets" – including live broiler chickens and turkeys, breeding stock and hatching eggs – at a value of $339.3m during the year, up $27.6m on the prior year, with higher sales and harvest both up by a commensurate amount. Those live poultry assets were listed as having a carrying value of $39.2m by year-end.
Beehive staffer received Fonterra document on his personal email
Prime Minister Christopher Luxon has revealed the document relating to the Smith v Fonterra case was also sent by a Fonterra staff member to a former Beehive staffer’s private email account. “This does not meet the standards expected of staff in the Beehive and we are treating it with the seriousness it deserves, with a number of reviews under way,” Luxon said. The Prime Minister’s former chief policy adviser Matt Burgess was at the centre of the controversy around briefing notes being sent to the PM’s office by Fonterra and Z Energy that suggested law changes to end the Smith v Fonterra case. The Government subsequently announced it was changing the law. Luxon initially brushed off concerns about the lobbying effort. But today he said Burgess’ IT account was being reviewed to establish whether any other work-related documents were on his private email. “Using private email to share official information undermines transparency and public trust,” Luxon said.
Mortgage brokers association pulls pin on NZ arm
The Finance Brokers Association of Australia has shuttered its two-year-old New Zealand offshoot – the Finance and Mortgage Advisers Association (FAMNZ) – citing “unsustainable” membership numbers.
The closure of the mortgage adviser association follows the departure of FAMNZ country manager Leigh Hodgetts and retirement of FAMNZ’s Australian-based MD Peter White. Its membership base wasn’t disclosed but, in a statement, FAMNZ said while it had aimed to help increase market share of mortgage brokers through advocacy and engagement with regulators and lenders, membership numbers hadn’t reached the level required to make it “financially sustainable”. It also cited new licencing and commission structures for lenders that had made the market more difficult for advisers.
About 75% of mortgages in Australia are completed through brokers.
The FBAA said it knew “the market was different” in NZ and, unlike Australia, advisers didn’t have to be a member of a professional organisation.
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