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

ANALYSIS: The first successful Customs prosecution over pounamu exports has delivered a guilty verdict, but the bigger issue now is whether the law is clear enough, and whether the public understands it.

Te Ao Māori

Pounamu court case exposes flaws in the law

Investment

Analyst cuts KMD Brands target price by 70%

‘We see a growing list of hurdles that KMD must overcome in order to regain investor confidence from here,’ Craigs analyst says.

Investment

Analyst cuts KMD Brands target price by 70%

‘We see a growing list of hurdles that KMD must overcome in order to regain investor confidence from here,’ Craigs analyst says.

General Business

Racing industry warns of unsustainable ‘loops of decay’

Growth is possible, says report, but major reform is necessary before guaranteed funding from Entain ends in 2028.

General Business

Racing industry warns of unsustainable ‘loops of decay’

Analysis

Edwards on Politics

Optimists turn pessimists as Iran war drags on

ANALYSIS: The Treasury’s latest thinking won’t be clear until the May 28 Budget.

Brent Edwards Thu, 02 Apr 2026

Underarm

Iran crisis exposes Australia’s energy vulnerability

ANALYSIS: Australia once produced 70% of its fuel needs but, with some fuel pumps running dry, its dependence on the global market is posing questions on energy security and future policy.

Lachlan Colquhoun Wed, 01 Apr 2026

Margin Call

Nvidia, inference design, and OpenClaw: black swan event

ANALYSIS: Every software business has been quietly avoiding the question of who owns the interface between the user and the software they use.

Tim Chesterfield Tue, 31 Mar 2026

Shoeshine

Rollercoaster ride for drone warfare shares on the ASX

ANALYSIS: Their companies have performed spectacularly on ASX over the past year, and shares surged when shooting war started in Iran. A big sell-off, however, leaves a question mark over whether 2026 will be the ‘year of the drone’.

Lachlan Colquhoun Mon, 30 Mar 2026

Investment

Infratil, Meridian weigh on NZX50 as Asia rallies

Interest-rate sensitive tech stocks Serko and Gentrack were among the day’s biggest gainers.

Curious News Wed, 01 Apr 2026

Radius Care buys Wellington care-home in debt-funded deal

The NZX-listed aged care provider has purchased a 90-bed care home from Metlifecare.

Nicholas Pointon Wed, 01 Apr 2026

Allbirds assets sold to American Exchange Group for US$39m

Kiwi shoe brand founded by Tim Brown listed in 2021 with a valuation of more than US$4b, but struggled to maintain momentum.

Will Mace Wed, 01 Apr 2026

Economics

The Government’s contribution to bringing interest rates down

Interest rates could be 15 basis points higher, a paper obtained by NBR under the Official Information Act suggests.

Brent Edwards Wed, 01 Apr 2026

Conway urges caution over the impact of Iran war

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

Jonathan Mitchell Wed, 25 Mar 2026

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

Politics

Seymour promises cool heads in face of fuel crisis

"We can respond to fuel shortages from the Iran war without committing the knee-jerk mistakes made during Covid," he says.

NBR Staff Tue, 31 Mar 2026

A $22b opportunity: businesses push for climate policy stability

Report says sustainability is now a source of competitive advantage, profit, and resilience.

Brent Edwards Tue, 31 Mar 2026

Government’s tone gets more serious as Iran conflict drags on

New Zealand ‘gravely concerned’ about the trajectory of the conflict, says Christopher Luxon.

Brent Edwards Mon, 30 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

BNZ to come up short following Rockit entities' asset sales

BDO has entered agreements to sell assets, but doesn’t expect the bank to recoup the full amount owing to it.

Kate McVicar Mon, 30 Mar 2026

Heinz Wattie’s confirms 300 jobs axed

Three manufacturing facilities in Auckland, Christchurch, and Dunedin – as well as Hastings packing line – will close.

NBR Staff Fri, 27 Mar 2026

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

Australia

Canva posts A$1b in statutory losses as market awaits IPO

News of the losses come as the ‘SaaSpocalypse’ could test the company’s US$65b valuation.

Lachlan Colquhoun Mon, 30 Mar 2026

Binance cops A$10m penalty for mis-selling crypto derivatives

In addition to the penalty, Binance has paid A$13m in compensation.

Lachlan Colquhoun Mon, 30 Mar 2026

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

Tech & Innovation

Govt to reallocate $122m of science funds to advanced technology

The move follows a report by the Prime Minister’s Science, Innovation and Technology Advisory Council identifying four priority areas for future public investment.

Fiona Rotherham Wed, 01 Apr 2026

Cleantech company Alimentary raises $7.7m for first plant

It has developed an anaerobic digestion system to solve problems for ageing sludge ponds in many of the country’s wastewater treatment plants.

Fiona Rotherham Sat, 28 Mar 2026

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

Law

Aussie case an A$188,000 reminder for handling psychosocial risks

The case marks the first time a Commonwealth employer has been convicted for failing to manage psychological risks in the workplace and has direct relevance for Kiwi employers.

Fiona Rotherham Tue, 31 Mar 2026

Crown breached contract with midwives over fair pay, court rules

College of Midwives says successful class action is likely to result in ‘substantial’ damages.

Hamish McNicol Thu, 26 Mar 2026

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

Finance

Specialist lenders’ book boosted by jump in business loans

Loan applications and approvals are up, says a new report, but impairments are also at their highest levels in five years.

Brent Melville Tue, 31 Mar 2026

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

The NBR Podcast

Podcast #97: ‘Unicorn’ Halter rounds up a big raise

LISTEN: Craig Piggott on what's next after his agritech startup doubled its valuation in just nine months.

Simon Shepherd Tue, 31 Mar 2026

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

General Business

Smiths City owner Colin Neal bankrupted over $1m in debts

The debt relates to a personal guarantee he made over the lease of one of the failed chain’s stores.

NBR Staff Wed, 01 Apr 2026

Business confidence collapses as Iran war drags on

Meanwhile, the central bank will look through the immediate ‘mayhem’ as inflation set to rise because of oil shock, says Amova’s Fergus McDonald.

Jonathan Mitchell Tue, 31 Mar 2026

NZ Media Council upholds complaint over NBR article

The story named a former FMA staffer in reporting about an investigation into the FMA chair.

NBR Staff Tue, 31 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

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

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

Infrastructure

S&P raises concerns about rates caps for New Zealand councils

It says councils are likely to have to defer or cancel spending on infrastructure.

Brent Edwards Thu, 02 Apr 2026

Bishop stares down Auckland’s ‘$4b’ volcanic view shafts

Housing and Infrastructure Minister discloses $2500 ‘per household’ as the cost of preserving the lines of sight.

Brent Melville Fri, 27 Mar 2026

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

Property

Another Black Robin Equity entity flies into receivership

Creditors and investors are owed an estimated $9m, with little expected to be recovered after a series of unfortunate investments.

Brent Melville Wed, 01 Apr 2026

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.

Brent Melville Thu, 26 Mar 2026

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

Professional Services

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

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

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

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

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

Aviation News

Gulf carriers carry on during Middle East conflict

Carry On: China-North Korea resumption, AerCap’s Airbus deal, new routes.

Nevil Gibson Sat, 28 Mar 2026

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.

Will Mace Thu, 26 Mar 2026

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

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: 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

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

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 directors for KiwiRail and Railways Corporation

Angela Nash and Chris Gudgeon will add depth and further skills to the boards, says chair.

Thu, 02 Apr 2026

ANZ boss to chair banking lobby group

The New Zealand Banking Association rotates the role every two years.

Wed, 01 Apr 2026

New partner for Buddle Findlay

Ed McGimpsey is now a partner in its Auckland property and construction team.

Wed, 01 Apr 2026

Dealing with the fuel crisis and reshuffling the Cabinet

Dealing with the fuel crisis and reshuffling the Cabinet

Peters’ state of the nation, the polls, and the fuel crisis

Oil shock response and when the personal becomes political

Free News Alerts

Net gains with Sean Marks

Net gains with Sean Marks

Singaporean-Japanese group snaps up Jack’s Point hotel site

Singaporean-Japanese group snaps up Jack’s Point hotel site

KMD Bans, Kiki fool, Amova spice, Minters IPO?

KMD Bans, Kiki fool, Amova spice, Minters IPO?

Quick Takes of the Week to April 3

Waititi, Curtis and Momoa buy Studio West

NZX50 declines for 5th week as Trump plans to hit Iran hard

‘Poor policy’: Retirement Commissioner slams KiwiSaver farm tweak

Crown appeal on two CBL charges dismissed

PM suggests reporters are over-thinking Cabinet reshuffle

KMD Bans, Kiki fool, Amova spice, Minters IPO?

Dealing with the fuel crisis and reshuffling the Cabinet

Singaporean-Japanese group snaps up Jack’s Point hotel site

Net gains with Sean Marks

Quick Takes of the Week to April 3

Instos stump up for $44.2m in KMD Brands capital raise

A $22b opportunity: businesses push for climate policy stability

Mevo enters voluntary administration as funding deal falls over

Racing industry warns of unsustainable ‘loops of decay’

KMD Brands delivers an epic fail

KMD launches deeply discounted $65.3m raise; chair to step down

Iran crisis exposes Australia’s energy vulnerability

KMD Brands delivers an epic fail

Former OneRoof chief named as receiving underage sex services

Govt to fund more diesel storage at Marsden Pt

Instos stump up for $44.2m in KMD Brands capital raise

Making millionaires: PartsTrader deal struck at $650m

Pounamu court case exposes flaws in the law

Pounamu court case exposes flaws in the law

Analyst cuts KMD Brands target price by 70%

Analyst cuts KMD Brands target price by 70%

Racing industry warns of unsustainable ‘loops of decay’

Racing industry warns of unsustainable ‘loops of decay’

Podcast: ‘Unicorn’ Halter rounds up a big raise

A $22b opportunity: businesses push for climate policy stability

Fuel: Willis, not Luxon, is leading the way

No “senseless virtue signalling” signals Peters

Shane Jones on geothermal energy

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

Optimists turn pessimists as Iran war drags on

Iran crisis exposes Australia’s energy vulnerability

Nvidia, inference design, and OpenClaw: black swan event

Rollercoaster ride for drone warfare shares on the ASX

Investment

Infratil, Meridian weigh on NZX50 as Asia rallies

Radius Care buys Wellington care-home in debt-funded deal

Allbirds assets sold to American Exchange Group for US$39m

Economics

The Government’s contribution to bringing interest rates down

Conway urges caution over the impact of Iran war

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

Politics

Seymour promises cool heads in face of fuel crisis

A $22b opportunity: businesses push for climate policy stability

Government’s tone gets more serious as Iran conflict drags on

Te Ao Māori

Fastest-growing construction firm rings in success

Ruapuke wins customary marine title, again

Māori call for change to traditional capitalist model