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

Thu 26 Mar 2026 06:14:48pm

MARKET MOVEMENTS

Thu 26 Mar 2026 06:14:48pm

MARKET MOVEMENTS

Top Story

Infrastructure

Developers raise ‘serious questions’ over Auckland water deal

Watercare says an ‘inherited’ agreement with Veolia in South Auckland, and a watertight confidentiality clause, leaves Auckland's relationship with the French multinational on an uncertain footing.

Brent Melville Fri, 27 Mar 2026

Infrastructure

Developers raise ‘serious questions’ over Auckland water deal

Brent Melville Fri, 27 Mar 2026

How to shake up an unlisted property fund

ANALYSIS: In a knife-edge ballot, shareholders at Provincia have voted for change.

Hunter’s Corner

How to shake up an unlisted property fund

ANALYSIS: In a knife-edge ballot, shareholders at Provincia have voted for change.

Tim Hunter Fri, 27 Mar 2026

Politics

Minister confident her public service will help in private sector

Brooke van Velden cites her reform of employment law as an example of her achievements.

Politics

Minister confident her public service will help in private sector

Brooke van Velden cites her reform of employment law as an example of her achievements.

Brent Edwards Fri, 27 Mar 2026

The NBR Rich List

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.

The NBR Rich List

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

Thu 26 Mar 2026 06:12:02pm

MARKET MOVEMENTS

Listen to NBR Podcast episodes

Eroad U-turn, million-dollar lawyers, AI at EY, mystery surnames

Quick Takes

Quick Takes of the Week to March 27

Market Close

Mainfreight leads NZX50 higher, Willis plays down fuel framework

Law

Crown breached contract with midwives over fair pay, court rules

General Business

ComCom gives initial thumbs up to banks’ request on cash services

Infrastructure

Developers raise ‘serious questions’ over Auckland water deal

Private Bin

Eroad U-turn, million-dollar lawyers, AI at EY, mystery surnames

The NBR Rich List

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

Hunter’s Corner

How to shake up an unlisted property fund

Politics

Minister confident her public service will help in private sector

Quick Takes

Quick Takes of the Week to March 27

Last Word

Mitigating a fuel crisis as long as a piece of string

Tech & Innovation

Halter touting new valuation of more than $3.4 billion

Politics

Peters says NZ First would split power companies up

Edwards on Politics

The debate on strengthening New Zealand’s ailing democracy

Shoeshine

When a kill chain refusal becomes a supply chain risk

Law

Du Val BTR investors can expect 41c in the dollar return

T&G confirms Goldman Sachs advising on sale process

The NZX-listed horticulture company has been looking at its strategic options since last July.

Infrastructure

ACC stumps up with $300m for new PPP fund

Fund manager Zealandia is looking at a wholesale fund raise of up to $600 million, with a minimum investment of $5m, or $2m for iwi investors.

Aviation News

Jetstar cutting domestic and trans-Tasman flights, 12% affected

Qantas-owned carrier says the cuts are due to rising fuel costs, but also engineering and fleet requirements.

Investment

KMD Brands in trading halt, to raise capital

The dual-listed retailer had been due to release results today but delayed, then said it needed to raise capital.

Featured

General Business

Decline in director bans expected to reverse

Data shows that over the past decade, there has been a steady decline in directors who have been banned by the Registrar of Companies.

Property

Small win for golfers, as 18ha retained at Takapuna GC

The Kaipātiki local board has decided to retain a strong sports and community element at the AF Thomas Park, although finer details still have to be ironed out.

Property

Small win for golfers, as 18ha retained at Takapuna GC

The Kaipātiki local board has decided to retain a strong sports and community element at the AF Thomas Park, although finer details still have to be ironed out.

Economics

Conway urges caution over the impact of Iran war

WATCH: RBNZ chief economist discusses inflation pressures and New Zealand’s fragile economic recovery.

Economics

Conway urges caution over the impact of Iran war

WATCH: RBNZ chief economist discusses inflation pressures and New Zealand’s fragile economic recovery.

Luxury Property

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.

Luxury Property

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

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Analysis

Edwards on Politics

The debate on strengthening New Zealand’s ailing democracy

ANALYSIS: Trust in key institutions has fallen and people are withdrawing from the democratic process.

Brent Edwards Thu, 26 Mar 2026

Underarm

Seismic shift in Australian politics as One Nation surges

ANALYSIS: Pauline Hanson’s populist party is aiming to reshape Australian politics and become the natural opposition to Labor. While it is riding high now, it remains to be seen if it can be a sustainable force.

Lachlan Colquhoun Wed, 25 Mar 2026

Margin Call

Software’s AI reckoning: The case for selectivity

ANALYSIS: The market has treated deeply entrenched incumbents in much the same way as commodity platforms with shallow customer relationships. That is where the opportunity lies.

Nicholas Simmons Tue, 24 Mar 2026

Shoeshine

When a kill chain refusal becomes a supply chain risk

ANALYSIS: The US Government’s punishment of AI company Anthropic for resisting its war-fighting holds some key lessons for New Zealand.

Will Mace Mon, 23 Mar 2026

Investment

NZX50 roars back as US drafts peace plan in Iran

The plan revived investors’ appetite for riskier assets and took the wind out of elevated oil prices.

Curious News Wed, 25 Mar 2026

KMD Brands ‘not presently in a position’ to release results

The NZX- and ASX-listed retailer was set to report interim earnings this morning.

Kate McVicar Wed, 25 Mar 2026

KMD Brands rejects Stokehouse proposal as it ‘creates no value’

Chair David Kirk says combining multiple surf brands that directly compete with each other ‘is not a strategy that has proven effective’.

Will Mace Tue, 24 Mar 2026

Economics

RBNZ risks repeating Covid-era mistakes on Iran, academic warns

WATCH: Dr Anna Breman says the Monetary Policy Committee won’t jump on the immediate fuel shock.

Jonathan Mitchell Tue, 24 Mar 2026

Short-lived disruption ‘can and should’ be looked through: RBNZ

RBNZ governor Anna Breman is delivering a speech on the immediate risks from the Iran conflict on inflation and growth.

Jonathan Mitchell Tue, 24 Mar 2026

NZ bond yields rise to annual high on inflation fears

The yield on the New Zealand 10-year bond has climbed more than 50 basis points since the start of the war in the Middle East.

Nicholas Pointon Mon, 23 Mar 2026

Politics

Legislation will increase workplace harm, select committee told

But Brooke van Velden says law is clear that no one should be dying at work.

Brent Edwards Wed, 25 Mar 2026

Low-income families get support through in-work tax credit boost

The Government did not want a repeat of ‘excessive spending’ during pandemic, Nicola Willis said.

Brent Edwards Tue, 24 Mar 2026

Willis rejects further changes to personal tax thresholds

Those earning $70,000 to $90,000 have been worst affected by fiscal drag, IRD analysis released to NBR shows.

Brent Edwards Tue, 24 Mar 2026

Te Ao Māori

Fastest-growing construction firm rings in success

Stronghold Group has grown from a small Auckland building contractor into the country’s fastest growing construction firm, with owners Quincy and Karalee Tangiau backing values, relationships, and careful reinvestment over outside capital.

Mike McRoberts Mon, 23 Mar 2026

Ruapuke wins customary marine title, again

A High Court ruling has confirmed Ruapuke Island Group whānau hold the title again, after law changes pushed the case back to court.

Mike McRoberts Thu, 05 Mar 2026

Māori call for change to traditional capitalist model

A new investment framework argues New Zealand must move from shareholder primacy to intergenerational thinking.

Mike McRoberts Wed, 25 Feb 2026

Primary Industries

Creditors vote to put MyFarm Rockit partnership into liquidation

Rākete Orchards GP and Rākete Orchards LP owe creditors $12m.

Kate McVicar Wed, 25 Mar 2026

Large fruit exporter said to be facing ‘cash crunch’

Consolidated Fruits, better known as Kiwi Crunch, employs hundreds of people in Hawke’s Bay and Central Otago.

Karyn Scherer and Tim Hunter Tue, 24 Mar 2026

Perfect storm: Synlait plots path back to profitability

The $80.6m first-half loss is a real blow to management, who are determined to target revenue and margin growth.

Jonathan Mitchell Mon, 23 Mar 2026

Australia

RBA hikes rates for second time this year

With the official interest rate differential with NZ now at 1.85%, the Australian dollar is at historic highs against the NZD.

Lachlan Colquhoun Tue, 17 Mar 2026

Australia braces for another RBA rate hike

The RBA changed course in February and increased rates, and is likely to move again tomorrow in response to the Middle East crisis.

Lachlan Colquhoun Mon, 16 Mar 2026

Qantas profits hit by Iran conflict as Aussie motorists panic buy

Qantas has doubled fares on some international routes as fuel prices surge along with demand.

Lachlan Colquhoun Thu, 12 Mar 2026

Tech & Innovation

Halter touting new valuation of more than $3.4 billion

The funding round would double Kiwi startup’s previous valuation of $1.6 billion.

NBR Staff Sun, 22 Mar 2026

Swyftx in talks to sell Easy Crypto’s stablecoin business

The Australian-based crypto trading platform does not want to be a cryptocurrency issuer.

Nicholas Pointon Fri, 20 Mar 2026

Sharndré Kushor wants to reverse NZ’s brain drain

And the young female entrepreneur is putting her money where her mouth is with a new investment fund.

Karyn Scherer Wed, 18 Mar 2026

Law

Matthew Pringle case raised in UK Westminster Hall push for law

The Manuka Doctor founder is at the centre of a campaign to better recognise reproductive coercion in the law.

Hamish McNicol Wed, 25 Mar 2026

Court finally rules on discovery in FMA’s Booster case

A dispute over document disclosure, adjourned since last April, is resolved in favour of the FMA.

NBR Staff Wed, 25 Mar 2026

‘Do the right thing’: union urges Uber to action over fuel crisis

Workers First Union wants Uber to immediately match DiDi’s fuel surcharge, while Bolt pays a fuel relief bonus to drivers.

Fiona Rotherham Tue, 24 Mar 2026

Finance

BlackBull Markets sounding out investor interest

The Auckland-based trading platform is said to be seeking a dual listing in Australia and New Zealand.

Hamish McNicol Wed, 25 Mar 2026

How lower fees could have a big impact on your KiwiSaver

ANALYSIS: Part four of a series examining how much you need to save for retirement.

Brent Sheather Sun, 22 Mar 2026

RBNZ rejected expert advice about capital requirements for banks

Three independent experts were ‘lukewarm’ about changes, but the central bank proceeded with relaxing the requirements.

Jonathan Mitchell Fri, 06 Mar 2026

The NBR Podcast

Podcast #96: Supercritical geothermal

LISTEN: It’s been described as a ‘moonbeam’ but is the answer to electricity sovereignty right beneath our feet?

Simon Shepherd Tue, 24 Mar 2026

Podcast #95: Fuel shock clips Air NZ’s wings

LISTEN: Airline suffers from the ‘crack spread’, so what can we do about fuel security?

Simon Shepherd Tue, 17 Mar 2026

Podcast #94: The future of banking

LISTEN: Would you trust an AI agent with your money?

Simon Shepherd Tue, 10 Mar 2026

General Business

Trump postpones Iran strikes; markets rally, oil falls

And Eurozone consumer confidence falls to the lowest level since late 2023.

Jonathan Mitchell Tue, 24 Mar 2026

India a key export growth priority, but risks still linger

New Zealand businesses are bullish about Indian export opportunities but want a clear and safe path.

Jonathan Mitchell Mon, 23 Mar 2026

Strait talk needed by Trump on oil and gas fears

Markets are simple, so when you’ve got something as massive as the crisis going on in the Middle East, it’s hard to draw attention away from that, Phil Borkin says.

Brent Melville Mon, 23 Mar 2026

Deals

Halter confirms $3.4b valuation after $377m Series E

Peter Thiel’s Founders Fund led the latest capital raise for the Kiwi agritech unicorn.

NBR Staff Wed, 25 Mar 2026

Whip Around secures majority investment from PE firm Accel-KKR

One of its early investors, CEO Noah Hickey, will continue to run the company from the US.

Fiona Rotherham Wed, 04 Mar 2026

Magellan to transform with A$1.6b Barrenjoey deal

The deal goes against the industry trend, and integrates investment banking and funds management.

Lachlan Colquhoun Mon, 02 Mar 2026

Tourism

THL shares retrace losses, as Trouchet departs

Share price recovery follows initial hit in the wake of travel and oil price fears on the US/Israel-Iran conflict.

Brent Melville Tue, 03 Mar 2026

Tourism Holdings profits up 17%, opens door to new offer

Company chair signals the motorhome company is open to a revised bid from the Apollo RV founder consortium or ‘other potential bidders’ at above $663m level.

Brent Melville Mon, 23 Feb 2026

Easing restrictions on Eden Park paves the way for more events

The new rules should be in place by April.

NBR Staff Mon, 16 Feb 2026

Infrastructure

Thin capitalisation rules acting as a ‘barrier to investment’

Removing the barrier will help, says Corporate Taxpayers Group chair John Payne.

Brent Edwards Mon, 23 Mar 2026

Government to make money from port infrastructure for new ferries

Government will help fund the new infrastructure and be a part-owner.

Brent Edwards Mon, 16 Mar 2026

Winstone Aggregates eyes $650m-plus expansion with fast-track bid

Fletcher Building subsidiary wants to increase production at its Hunua quarry to about 5.4 million tonnes of aggregate a year.

Hamish McNicol Thu, 05 Mar 2026

Property

Back to the office: ‘disengagement’ is over, research says

There are signals the office market is set for a rebound, getting back to levels last seen before the Global Financial Crisis.

Brent Melville Wed, 25 Mar 2026

Govt looks to hand over historic Chateau Tongariro

Conservation Minister Tama Potaka says requests for proposals will close on April 20, with submitters still liable to meet DoC’s concession requirement.

Brent Melville Thu, 19 Mar 2026

Private property investors chip in $24.8b to economy

Private residential investors contributed six times more to GDP than public housing providers in 2024, Infometrics data shows.

Brent Melville Thu, 19 Mar 2026

Professional Services

Technical glitch throws accounting exams into chaos

The exam provider has also won a major contract with the Ministry of Education.

Lachlan Colquhoun Fri, 13 Mar 2026

Legal industry scrambling on AI, Law Association president says

But international conferences tells Tony Herring it might not change the profession as much as first thought.

Hamish McNicol Mon, 09 Mar 2026

First of its kind: litigation boutique launches in Christchurch

Shane Campbell and Thomas Westaway have teamed up to offer a new kind of disputes practice in the South Island.

Hamish McNicol Wed, 04 Mar 2026

NBR Focus

Election 2026: The battle for Auckland

From red tide to blue wave – what will it be this time?

Simon Shepherd Thu, 05 Mar 2026

Election 2026: Māori seats in the spotlight

A fractured Waitangi, a looming court ruling, a Labour reset, and a referendum threat have thrust the Māori electorates back to the centre of election year politics.

Mike McRoberts Thu, 05 Mar 2026

Election 2026: Will voters care about the deficit?

Forty years ago, former Prime Minister Robert Muldoon said people wouldn’t know a deficit if they tripped over it.

Brent Edwards Wed, 04 Mar 2026

Retail

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

The man who helped build Kathmandu and Macpac – then walked away

Alchemy Equipment founder Campbell Junor on working in other people’s operations before building his own.

Kate McVicar Wed, 11 Mar 2026

Proven entrepreneur hopes to repeat success with skincare venture

Teen-focused skincare brand Evre is expanding its North American presence and looks to raise at least US$2m.

Kate McVicar Mon, 09 Mar 2026

Luxury Property

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

Coatesville club, Tuscan in Waimauku, $10m Albert St views

International buyers ramp up interest for homes above $5m; Aussie developer sells down Albert St tower, digs into Queenstown.

Brent Melville Wed, 28 Jan 2026

Matakana’s Matisse, Pyes Pa’s grand dame, and Bendigo wining

For the NBR Rich Listers and other high-net-worths who have everything, comes 800 pieces of art, a high-class restaurant – and pink snails.

Brent Melville Wed, 17 Dec 2025

Aviation News

Hamilton Airport runway gets $9.8m upgrade for larger aircraft

Government backs regional airport development but operators say costs are too high.

Nevil Gibson Wed, 25 Mar 2026

Auckland Airport shifts some check-in desks to temporary pavilion

The ongoing terminal integration project means less space inside the terminal as check-in counters are replaced by self-service kiosks.

Will Mace Mon, 23 Mar 2026

BA to return to Melbourne after 20-year hiatus

Carry On: Riyadh Air plans, eVTOL pioneers’ dispute, new routes.

Nevil Gibson Sat, 21 Mar 2026

Energy

Govt mulls levy to fund more diesel storage

Channel Infrastructure says it would take several months to convert former crude oil tanks to store a further week’s supply.

Tim Hunter Wed, 25 Mar 2026

Mobil NZ on the block, says report

Oil multinational has previously said it wants to ‘high-grade’ its assets.

NBR Staff Wed, 25 Mar 2026

Onslow pumped hydro referred for ‘fast track’ consenting

Scheme is ‘an absolute gamechanger’, says project director Keith Turner.

NBR Staff Wed, 25 Mar 2026

Rich List

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

40 years of the Rich List: a look back to 1990

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, 30 Jan 2026

Featured Rich Listers: Wi Pere Trust

It’s estimated the Wi Pere Trust will need another three years to repair hill country fences affected by Cyclone Gabrielle and rebuild soil structure and fertility on its 7000ha of hill country.

Owen Poland Wed, 19 Nov 2025

Marketing & Media

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

NBR bans banking giant Macquarie for alleged copyright breaches

Investigations suggest the A$79b market cap firm shared one subscription among dozens of staff.

NBR Staff Fri, 16 Jan 2026

Comings & Goings

New interim chief financial officer for Tower

Simon Hoole will take over the role from May 1.

Thu, 26 Mar 2026

Sir Bill English to chair Airwallex’s New Zealand board

The former PM says he is looking forward to helping New Zealand companies participate more effectively in the global economy.

Thu, 26 Mar 2026

ComCom selects Mbie deputy secretary Suzanne Stew as next CEO

Former Wrightson and TelstraClear executive joins the regulator in May.

NBR Staff Wed, 25 Mar 2026

Developers raise ‘serious questions’ over Auckland water deal

Developers raise ‘serious questions’ over Auckland water deal

Select committee told new planning laws could be worse than RMA

Veolia taps developers for $87m, Watercare spends it elsewhere

Free News Alerts

How to shake up an unlisted property fund

How to shake up an unlisted property fund

Minister confident her public service will help in private sector

Minister confident her public service will help in private sector

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

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

Eroad U-turn, million-dollar lawyers, AI at EY, mystery surnames

Quick Takes of the Week to March 27

Mainfreight leads NZX50 higher, Willis plays down fuel framework

Crown breached contract with midwives over fair pay, court rules

ComCom gives initial thumbs up to banks’ request on cash services

Developers raise ‘serious questions’ over Auckland water deal

Eroad U-turn, million-dollar lawyers, AI at EY, mystery surnames

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

How to shake up an unlisted property fund

Minister confident her public service will help in private sector

Quick Takes of the Week to March 27

Mitigating a fuel crisis as long as a piece of string

Halter touting new valuation of more than $3.4 billion

Peters says NZ First would split power companies up

The debate on strengthening New Zealand’s ailing democracy

When a kill chain refusal becomes a supply chain risk

Du Val BTR investors can expect 41c in the dollar return

T&G confirms Goldman Sachs advising on sale process

ACC stumps up with $300m for new PPP fund

Jetstar cutting domestic and trans-Tasman flights, 12% affected

KMD Brands in trading halt, to raise capital

Decline in director bans expected to reverse

Small win for golfers, as 18ha retained at Takapuna GC

Small win for golfers, as 18ha retained at Takapuna GC

Conway urges caution over the impact of Iran war

Conway urges caution over the impact of Iran war

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

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

Inflation pressures and NZ’s fragile economic recovery

RBNZ risks repeating Covid-era mistakes on Iran

When a kill chain refusal becomes a supply chain risk

When the personal becomes political

Fuel shock: Potential targeted response

Is AI the future of banking?

Media questioned Luxon’s leadership

Covid-19 inquiry just fuel for election year?

Hoping for bipartisan support of Holidays Act overhaul

Law doesn’t save lives, people do: health and safety lawyer

Luxon’s confusion over Iran

Brown’s message on AKL housing

Auckland Boat Show: Late Rich Lister’s superyacht sold

RBNZ ‘focusing on the reality on the ground’: Breman

Andrew Bayly moving on

Goldsmith gives ‘move on’ orders

Limiting pay equity access is “yet another attack on women”

Air New Zealand announced a $59m loss

The debate on strengthening New Zealand’s ailing democracy

Seismic shift in Australian politics as One Nation surges

Software’s AI reckoning: The case for selectivity

When a kill chain refusal becomes a supply chain risk

Investment

NZX50 roars back as US drafts peace plan in Iran

KMD Brands ‘not presently in a position’ to release results

KMD Brands rejects Stokehouse proposal as it ‘creates no value’

Economics

RBNZ risks repeating Covid-era mistakes on Iran, academic warns

Short-lived disruption ‘can and should’ be looked through: RBNZ

NZ bond yields rise to annual high on inflation fears

Politics

Legislation will increase workplace harm, select committee told

Low-income families get support through in-work tax credit boost

Willis rejects further changes to personal tax thresholds

Te Ao Māori

Fastest-growing construction firm rings in success

Ruapuke wins customary marine title, again

Māori call for change to traditional capitalist model

Primary Industries

Creditors vote to put MyFarm Rockit partnership into liquidation

Large fruit exporter said to be facing ‘cash crunch’