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

Wed 04 Feb 2026 08:41:39pm

MARKET MOVEMENTS

Wed 04 Feb 2026 08:41:39pm

MARKET MOVEMENTS

Top Story

Hunter’s Corner

Behold the toll tax

ANALYSIS: The hasty push for new revenue from road tolling risks unnecessary policy mistakes.

Tim Hunter Thu, 05 Feb 2026

Hunter’s Corner

Behold the toll tax

ANALYSIS: The hasty push for new revenue from road tolling risks unnecessary policy mistakes.

Tim Hunter Thu, 05 Feb 2026

‘Miscarriage of justice’: failed developers escape $4.8m judgment

The High Court has set aside a judgment against Paul Bublitz and David Wigmore for the failed Huka Ridge deal.

Law

‘Miscarriage of justice’: failed developers escape $4.8m judgment

The High Court has set aside a judgment against Paul Bublitz and David Wigmore for the failed Huka Ridge deal.

Brent Melville Thu, 05 Feb 2026

Finance

KiwiSaver will be ‘talking point of this election’: Kernel boss

The investment platform reported a 104% jump in assets last year, driven by $1.3b in net applications.

Finance

KiwiSaver will be ‘talking point of this election’: Kernel boss

The investment platform reported a 104% jump in assets last year, driven by $1.3b in net applications.

Hamish McNicol Thu, 05 Feb 2026

Edwards on Politics

Can we afford to wait for consensus on coping with the climate?

ANALYSIS: Extreme weather events have already cost the Crown $50 billion over the past decade, says Simon Watts.

Edwards on Politics

Can we afford to wait for consensus on coping with the climate?

ANALYSIS: Extreme weather events have already cost the Crown $50 billion over the past decade, says Simon Watts.

Brent Edwards Thu, 05 Feb 2026

Wed 04 Feb 2026 08:32:58pm

MARKET MOVEMENTS

Listen to NBR Podcast episodes

Accountancy tribunal censures ex CBL exec

Investment

AoFrio keeps cool on capital raise plans to aid global expansion

Morning Brew

Russia-Ukraine summit in Abu Dhabi; Uber posts strong Q4 revenue

Economics

Jobless rise unlikely to derail election year recovery: analysts

Market Close

NZX50 stays positive as jobs figures offer something for everyone

Australia

RBA turns from Dove to Hawk as ‘circumstances change’

Law

‘Miscarriage of justice’: failed developers escape $4.8m judgment

Hunter’s Corner

Accountancy tribunal censures ex CBL exec

Finance

KiwiSaver will be ‘talking point of this election’: Kernel boss

Investment

AoFrio keeps cool on capital raise plans to aid global expansion

Edwards on Politics

Can we afford to wait for consensus on coping with the climate?

Toil & Trouble

‘It was worth it’: Siouxsie Wiles on her employment stoush

Politics

Bi-partisan agreement on Modern Slavery Bill

Infrastructure

Truckies say proposed changes to tolling roads are unworkable

Retail

Allbirds to shutter all full-price US stores

Hunter’s Corner

Investors see Santana consent as a slam dunk – it’s not

General Business

Fake accounts, maxed out credit cards – how HoneyLab fell apart

First criminal cartel case ends with company’s liquidation

Official information request reveals company was paid more than $3.5m by Auckland Transport.

Tech & Innovation

OpenStar lands $35m govt loan aimed at NZ fusion hub

A loan through the Regional Infrastructure Fund is backing OpenStar’s next fusion facility, as ministers bet infrastructure can anchor a new deep tech cluster in New Zealand.

Deals

Kiwi tech firm Assurity achieves aspirations with sale to Aspire

Co-founders of quality assurance business will stick around for the transition, as will more than 150 consultants across five offices.

General Business

ComCom takes first unconscionable conduct cases

The TV Shop faces exploitative and misleading conduct allegations, when selling high value products to consumers.

Featured

Investment

Warehouse cuts the ‘right move’ but not enough to move the needle

Analysts say cost reduction is heading in the right direction.

Investment

ACC claim: insurer ups the ante for MCK takeover bid

Increased holding and share price spike follows nine-month bidding stand-down for Singaporean majority holder CDL.

Investment

ACC claim: insurer ups the ante for MCK takeover bid

Increased holding and share price spike follows nine-month bidding stand-down for Singaporean majority holder CDL.

Primary Industries

MyFarm’s failed Rockit apple partnership owes $12m

The fund was tipped into voluntary administration last October, citing poor returns and a lack of shareholder interest.

Primary Industries

MyFarm’s failed Rockit apple partnership owes $12m

The fund was tipped into voluntary administration last October, citing poor returns and a lack of shareholder interest.

General Business

Fake accounts, maxed out credit cards – how HoneyLab fell apart

Biotech founder reveals shock discoveries, CEO admits ‘poor management’.

General Business

Fake accounts, maxed out credit cards – how HoneyLab fell apart

Biotech founder reveals shock discoveries, CEO admits ‘poor management’.

Analysis

Underarm

QMS deal sees Nine return to Kiwi media market

ANALYSIS: Australia’s Nine Entertainment sold out of New Zealand for $1 in 2020. Now the company is back, but the strategy is all about digital outdoor advertising and moving from the ‘sofa to the street’.

Lachlan Colquhoun Wed, 04 Feb 2026

Margin Call

Rio Tinto-Glencore: Will this time be different?

ANALYSIS: Consolidation likely continues as a key theme for miners, but will shareholders benefit?

Robbie Urquhart Tue, 03 Feb 2026

Shoeshine

Market plays catchup on private credit valuations

ANALYSIS: Private credit and investment in private assets has boomed, leaving regulators and benchmarkers playing catchup as they try and make the market more transparent.

Lachlan Colquhoun Mon, 02 Feb 2026

Economy Matters

Has the NZ economy actually turned a corner?

ANALYSIS: The signs are encouraging but we are not out of the woods yet.

Christoph Schumacher Mon, 02 Feb 2026

Investment

Synlait warns of up to $82m half year loss

Milk processor looks forward to completion of $307m asset sale amid ongoing fallout from 'manufacturing challenges'.

NBR Staff Wed, 04 Feb 2026

Warehouse culls 270 head office jobs

The retail group is expected to save about $3m to $4m on labour in FY26, but redundancy costs will tally $6m.

Kate McVicar Wed, 04 Feb 2026

Still two more years until Ryman dividends return

Shareholders’ payouts have been suspended since the company announced its $902m capital raise in February 2023.

Nicholas Pointon Tue, 03 Feb 2026

Economics

Higher inflation brings forward rate hike expectations

ANZ now expects a rate hike at the end of this year while market pricing indicates a chance of September move, after annual inflation came in at 3.1% today.

Jonathan Mitchell Fri, 23 Jan 2026

Retailers not out of the woods after disappointing December drop

Electronic card spending fails to find festive cheer at the end of 2025, with an uncertain road ahead in election year.

Jonathan Mitchell Thu, 22 Jan 2026

Services sector finally re-enters expansion zone

New data gives economic recovery some extra credibility with inflation numbers just around the corner.

Jonathan Mitchell Tue, 20 Jan 2026

Politics

Bi-partisan agreement on Modern Slavery Bill

The legislation would bring New Zealand into line with the UK and the EU.

NBR Staff Thu, 29 Jan 2026

No by-election as Judith Collins quits politics

She will become the next president of the Law Commission.

NBR Staff Wed, 28 Jan 2026

‘Do more with less’: Willis sets Budget date for May 28

Finance Minister Nicola Willis sticks with the basics and promises no big spending plans in election year.

Jonathan Mitchell Wed, 28 Jan 2026

Te Ao Māori

The scent of clean science

A Whangārei-raised founder built a profitable fragrance business in London despite being told to give fragrance up, and is now weighing up what coming home could look like.

Mike McRoberts Wed, 04 Feb 2026

Treaty lawyer builds basics for boards

As Waitangi Day approaches, Treaty lawyer Roimata Smail says too many boards and executives are still making decisions without a basic understanding of Te Tiriti.

Mike McRoberts Tue, 03 Feb 2026

Shane Jones’ regional spend takes shape

With most of the $1.2 billion Regional Infrastructure Fund now committed, the focus is shifting from allocation to what regions are actually getting in resilience, confidence, and working infrastructure.

Mike McRoberts Fri, 30 Jan 2026

Primary Industries

Akaroa King Salmon proudly wears ‘small farmer’ badge

New chief executive Stewart Hawthorn says it’s not about making a quick buck.

Kate McVicar Fri, 23 Jan 2026

Rockit-backed syndicate tips into administration

A director says the company sustained a ‘king hit’ in Cyclone Gabrielle and fought ‘tooth and nail’ but couldn’t withstand further downgrades to grower returns.

Kate McVicar Wed, 21 Jan 2026

FrostBoss goes electric

A Central Otago orchard has installed the Hawke’s Bay manufacturer’s first electric frost fan.

Tim Hunter Tue, 20 Jan 2026

Australia

Hot inflation prompts RBA to hike rates

The market is pricing in more rate increases as Australia's Reserve Bank seeks to cool the economy down.

Lachlan Colquhoun Tue, 03 Feb 2026

Airwallex audited in Australia over money laundering fears

The audit of the company – founded by NBR Rich Lister Lucy Liu – will look for fake ‘mule’ accounts, often used for criminal activity.

Lachlan Colquhoun Fri, 23 Jan 2026

Australia extends life of biggest coal-fired plant

Renewable generation is at record highs, but there are issues with grid distribution infrastructure.

Lachlan Colquhoun Tue, 20 Jan 2026

Tech & Innovation

Alimetry gets FDA nod for AI-powered update to its gastric device

It opens up the opportunity for a more wearable next generation of products.

Fiona Rotherham Wed, 04 Feb 2026

Ara Ake helps Cetogenix scale up biogas with $1m repayable loan

But the Rotorua-based company is still seeking further private investment to deploy a fourth-generation pilot plant at Ecogas.

Fiona Rotherham Thu, 22 Jan 2026

Legal tech startup Ivo raises US$55m in Series B round

Founder Min-Kyu Jung says Blackbird Ventures approached him wanting to invest more money.

Fiona Rotherham Wed, 21 Jan 2026

Law

High Court dismisses lawyer’s appeal against suspension

Gautam Jindal was found guilty of misconduct over a campaign of harassment against another lawyer.

Tim Hunter Fri, 23 Jan 2026

US multinational’s claim against Montoux set for October

Wellington-founded firm went into liquidation in 2024 after Fidelity National Information Services accused it of stealing trade secrets.

Hamish McNicol Tue, 13 Jan 2026

Employment Hero drops legal action against investor Seek

The HR services provider had alleged anti-competitive conduct against its rival and investor last year.

NBR Staff Thu, 08 Jan 2026

Finance

‘Game on’: Kiwibank’s goal to erode Aussie-owned bank profits

CEO Steve Jurkovich is bullish about the bank’s prospects as it gears up for another big year in 2026.

Jonathan Mitchell Sat, 27 Dec 2025

Kiwibank capital raise gets kicked to the sidelines

Parent company Kiwi Group Capital decides to hit pause after the RBNZ’s capital requirement changes.

Jonathan Mitchell Fri, 19 Dec 2025

Bank cashback deals create tsunami of mortgage switches

Lender processing times have blown out as cashback offers prompt widespread switching by borrowers between banks.

Brent Melville Fri, 19 Dec 2025

The NBR Podcast

Podcast #89: China – Is it time to pivot?

LISTEN: China’s population is getting smaller and older, so what should Kiwi exporters do?

Simon Shepherd Tue, 03 Feb 2026

Podcast #88: How OpenStar is replicating the sun

LISTEN: OpenStar's Kiwi physicist Dr Ratu Mataira and the race to create fusion by the early 2030s.

Simon Shepherd Tue, 27 Jan 2026

Podcast #87: Vessev – Flying into 2026

LISTEN: The electric hydro-foiling Kiwi startup is planning to take its flying boats to the world.

Simon Shepherd Tue, 20 Jan 2026

General Business

NZX50 joins Asia rally as it edges higher

Briscoe led the benchmark higher on summer sales growth.

Curious News Tue, 03 Feb 2026

The ‘year of the refix’ not over yet, as rates start tracking up

About $132b worth of borrowings are due to be repriced in the next six months, BNZ economist says.

Brent Melville Tue, 03 Feb 2026

NZX50 dips, dodging worst of Asian slide; KMD falls

Tech companies Gentrack, Vista and Serko were among the hardest hit.

Curious News Mon, 02 Feb 2026

Deals

Tend partners with Ngāti Whātua Ōrākei

Ngāti Whātua Ōrākei takes a strategic stake in Tend Health as the group prepares to expand to 25 clinics.

Mike McRoberts Thu, 22 Jan 2026

Fuel providers NPD, Gull to merge

Merger would create a network of 240 sites across the country and is subject to Commerce Commission approval.

Hamish McNicol Thu, 25 Dec 2025

AS Colour pulls in Quadrant investor, reveals $500m annual sales

Blank clothing brand, which was founded by Lawrence Railton in 2005, now has 27 retail sites around the world.

Will Mace Wed, 10 Dec 2025

Tourism

Wairoa River ramps it up with boat races back in action

Powerboat and water ski racing returns to the Wairoa River, giving the flood-weary Hawke’s Bay town a reason to gather, remember, and enjoy itself for a weekend.

Mike McRoberts Sun, 18 Jan 2026

Hollyford, Ngāi Tahu’s taonga walk

Ngāi Tahu Tourism’s premium Hollyford Wilderness Experience mixes comfort, cultural responsibility, and conservation work in a valley where Fiordland still feels like itself.

Mike McRoberts Sat, 17 Jan 2026

Tourism bordering on an events-driven recovery in 2026

The industry has yet to get back to pre-pandemic levels, but NZICC opening is a good start.

Brent Melville Thu, 08 Jan 2026

Infrastructure

Proposed road user charge and tolling regime needs some tweaks

New road user charge regime is not a competitive market, says Adam Johnston.

Brent Edwards Mon, 02 Feb 2026

AT boss Kimpton steps off bus as council rings changes

Kimpton, who was on a salary of about $640,000, took on the full-time role just over a year ago.

Brent Melville Mon, 02 Feb 2026

Truckies say proposed changes to tolling roads are unworkable

Too many tolls will undermine industry and public support for the practice, says Transporting NZ.

Brent Edwards Mon, 02 Feb 2026

Property

Ikea parent group shells out more than $134m on new forestry

A decision from December marks Ingka Group’s largest single purchase in New Zealand to date.

Kate McVicar Thu, 29 Jan 2026

Gulf Harbour rescue ‘in the works’, Olliver debt at $70m

Community group wants ownership of the former golf course, although main lender 1543 Capital will take some convincing.

Brent Melville Thu, 29 Jan 2026

Kiwi Property to sell ASB waterfront offices for $205m

Agreement to sell North Wharf office block to Precinct Pacific comes after locking the Australian bank into a lease agreement until 2040.

Brent Melville Tue, 27 Jan 2026

Professional Services

Global legal tech boss talks up NZ market after local launch

Local law firms among ‘the most technologically advanced and forward-thinking law firms’ in the world, Jack Newton argues.

Hamish McNicol Mon, 02 Feb 2026

New Deloitte chair reckons business sentiment is improving

Bruce Wallace says the country’s largest accounting firm had a softer FY25 than FY24.

Hamish McNicol Mon, 02 Feb 2026

Teneo set to announce further hires after PwC insolvency swoop

NBR understands the global advisory firm is poaching Grant Thornton partner Stephen Keen.

Nicholas Pointon Tue, 27 Jan 2026

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.

Will Mace Fri, 17 Oct 2025

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.

Hamish McNicol Fri, 17 Oct 2025

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

Retail

Allbirds to shutter all full-price US stores

The Kiwi-founded footwear retailer will focus on e-commerce in an attempt to boost profitability.

Kate McVicar Fri, 30 Jan 2026

Costco NZ reports maiden profit as it gears up for expansion

The international retailer reported a $9.6m profit in the year ended August 31 in New Zealand.

Jonathan Mitchell Mon, 05 Jan 2026

Retail 2025: Some thrived, others just survived

Retail experts take stock of a challenging year.

Kate McVicar Fri, 26 Dec 2025

Luxury Property

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

Waiheke billionaire bolthole, Castor Bay views, Erskine chapel

The luxury property market is heating up, as New Zealand opens its doors to ‘golden visa’ holders and diamonds emerge in the rough.

Brent Melville Wed, 26 Nov 2025

Aviation News

Air India, Singapore Airlines to move closer together

Carry On: Air India loss, Dubai gets busier.

Nevil Gibson Sat, 31 Jan 2026

Australian consultant to head Solomons Airlines

Matthew Findlay has international experience in the aviation sector since 1996.

Nevil Gibson Fri, 30 Jan 2026

Flood relief fund helps Wairoa airport upgrade

An extended runway will handle biggest in air ambulance fleet.

Nevil Gibson Fri, 30 Jan 2026

Energy

Far North Solar joint venture ends

Aquila Capital takes 100% interest in six solar developments.

Tim Hunter Tue, 03 Feb 2026

Taiko Critical Minerals touts ‘world class’ West Coast deposits

Geological consultants' report shows one in four tonnes of mined material made up of heavy minerals, Australian-owned company says.

Brent Melville Wed, 28 Jan 2026

‘Chasing the sun’ as Lodestone mulls IPO

Solar firm has about 15 projects on the go, and its pipeline could get to between $1.5b and $2b within the next five years.

Brent Melville Fri, 16 Jan 2026

Rich List

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

Featured Rich Lister: Glenn Hawkins

In late 2024, there was a minor reshuffle of Avanti Finance’s share register that saw Hawkins increase his majority stake in the business by 3.5% to almost 63%.

Owen Poland Tue, 18 Nov 2025

Marketing & Media

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

Fourth firm pays damages for NBR copyright breaches

The investment firm used one subscription for multiple staff over several years.

NBR Staff Mon, 22 Dec 2025

Comings & Goings

Bell Gully appoints new partner

Hannah Turton is experienced in handling large, complex transactions in both New Zealand and the UK.

Wed, 04 Feb 2026

New director for Port of Tauranga

Ken Shirley will replace Doug Leeder, who is retiring.

Wed, 04 Feb 2026

KPMG New Zealand appoints four new partners

Natalie Berkett, Alan Williams, Seshani Bala, and Evan Bateup.

Tue, 03 Feb 2026

Behold the toll tax

Behold the toll tax

Proposed road user charge and tolling regime needs some tweaks

Truckies say proposed changes to tolling roads are unworkable

Free News Alerts

‘Miscarriage of justice’: failed developers escape $4.8m judgment

‘Miscarriage of justice’: failed developers escape $4.8m judgment

KiwiSaver will be ‘talking point of this election’: Kernel boss

KiwiSaver will be ‘talking point of this election’: Kernel boss

Can we afford to wait for consensus on coping with the climate?

Can we afford to wait for consensus on coping with the climate?

Accountancy tribunal censures ex CBL exec

AoFrio keeps cool on capital raise plans to aid global expansion

Russia-Ukraine summit in Abu Dhabi; Uber posts strong Q4 revenue

Jobless rise unlikely to derail election year recovery: analysts

NZX50 stays positive as jobs figures offer something for everyone

RBA turns from Dove to Hawk as ‘circumstances change’

‘Miscarriage of justice’: failed developers escape $4.8m judgment

Behold the toll tax

Accountancy tribunal censures ex CBL exec

KiwiSaver will be ‘talking point of this election’: Kernel boss

AoFrio keeps cool on capital raise plans to aid global expansion

Can we afford to wait for consensus on coping with the climate?

‘It was worth it’: Siouxsie Wiles on her employment stoush

Bi-partisan agreement on Modern Slavery Bill

Truckies say proposed changes to tolling roads are unworkable

Allbirds to shutter all full-price US stores

Investors see Santana consent as a slam dunk – it’s not

Fake accounts, maxed out credit cards – how HoneyLab fell apart

First criminal cartel case ends with company’s liquidation

OpenStar lands $35m govt loan aimed at NZ fusion hub

Kiwi tech firm Assurity achieves aspirations with sale to Aspire

ComCom takes first unconscionable conduct cases

Warehouse cuts the ‘right move’ but not enough to move the needle

ACC claim: insurer ups the ante for MCK takeover bid

ACC claim: insurer ups the ante for MCK takeover bid

MyFarm’s failed Rockit apple partnership owes $12m

MyFarm’s failed Rockit apple partnership owes $12m

Fake accounts, maxed out credit cards – how HoneyLab fell apart

Fake accounts, maxed out credit cards – how HoneyLab fell apart

QMS deal sees Nine return to Kiwi media market

Rio Tinto-Glencore: Will this time be different?

Market plays catchup on private credit valuations

Has the NZ economy actually turned a corner?

Investment

Synlait warns of up to $82m half year loss

Warehouse culls 270 head office jobs

Still two more years until Ryman dividends return

Economics

Higher inflation brings forward rate hike expectations

Retailers not out of the woods after disappointing December drop

Services sector finally re-enters expansion zone

Politics

Bi-partisan agreement on Modern Slavery Bill

No by-election as Judith Collins quits politics

‘Do more with less’: Willis sets Budget date for May 28

Te Ao Māori

The scent of clean science

Treaty lawyer builds basics for boards

Shane Jones’ regional spend takes shape

Primary Industries

Akaroa King Salmon proudly wears ‘small farmer’ badge

Rockit-backed syndicate tips into administration

FrostBoss goes electric

Australia

Hot inflation prompts RBA to hike rates

Airwallex audited in Australia over money laundering fears

Australia extends life of biggest coal-fired plant

Tech & Innovation

Alimetry gets FDA nod for AI-powered update to its gastric device

Ara Ake helps Cetogenix scale up biogas with $1m repayable loan

Legal tech startup Ivo raises US$55m in Series B round

Law

High Court dismisses lawyer’s appeal against suspension

US multinational’s claim against Montoux set for October

Employment Hero drops legal action against investor Seek

Finance

‘Game on’: Kiwibank’s goal to erode Aussie-owned bank profits

Kiwibank capital raise gets kicked to the sidelines

Bank cashback deals create tsunami of mortgage switches