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

Fri 20 Mar 2026 06:23:32pm

MARKET MOVEMENTS

Fri 20 Mar 2026 06:23:32pm

MARKET MOVEMENTS

Top Story

Politically Speaking

Oil shock response and when the personal becomes political

ANALYSIS: Nicola Willis says it would be irresponsible of the Government to help every New Zealander facing higher petrol costs.

Brent Edwards Sat, 21 Mar 2026

Politically Speaking

Oil shock response and when the personal becomes political

ANALYSIS: Nicola Willis says it would be irresponsible of the Government to help every New Zealander facing higher petrol costs.

Brent Edwards Sat, 21 Mar 2026

Iran knocks out natural gas, eyes shift off AI

Iranian scorched earth strategy, which is seeing it launch air attacks on its Middle Eastern neighbours, knocked out much of Qatar’s LNG capacity last week.

Market Review

Iran knocks out natural gas, eyes shift off AI

Iranian scorched earth strategy, which is seeing it launch air attacks on its Middle Eastern neighbours, knocked out much of Qatar’s LNG capacity last week.

Brent Melville Sat, 21 Mar 2026

Aviation News

BA to return to Melbourne after 20-year hiatus

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

Aviation News

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

Guest Analysis

Rethinking AML/CFT levy proportionality

ANALYSIS: Why New Zealand’s Anti-Money Laundering and Countering Financing of Terrorism Act levy should consider being revenue-based.

Guest Analysis

Rethinking AML/CFT levy proportionality

ANALYSIS: Why New Zealand’s Anti-Money Laundering and Countering Financing of Terrorism Act levy should consider being revenue-based.

Giulia Dondoli Sat, 21 Mar 2026

Quick Takes

Vulcan Steel chair trims holding

Vulcan Steel chair Rhys Jones has sold $950,000 worth of shares in the dual-listed steel distributor.
A note to the stock exchange today showed interests associated with Jones sold 130,000 shares at $7.50 on March 18. The sale reduced his holding in the company to 3.17% from 3.27%.
Vulcan chief financial officer Kar Yue Yeo told NBR Jones sold the shares for “tax planning purposes”.
Jones was Vulcan’s chief executive until January 1, when he stepped down to assume the role of non-executive chair. Vulcan’s chief customer officer Gavin Street replaced him in the top job.
Street more than doubled his relatively small holding in the company on March 12, when interests associated with him acquired 8100 shares.

Fri 20 Mar 2026 06:19:30pm

MARKET MOVEMENTS

Listen to NBR Podcast episodes

Economics

‘We’re in a different world’, cautions Nicola Willis

Law

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

Politics

Willis outlines worst-case economic scenario of Iran conflict

Rakon narrows earnings guidance, takeover reaches 72% acceptance

Bourns' $1.55 per share offer has been extended until April 13.

Morning Brew

BoE, ECB hold rates steady; Uber invests in EV firm

And gold and silver prices slide amid worries about Iran war and lingering inflation pressures.

Property

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.

Energy

More red ink for Octopus

The electricity retail minnow says the market needs a level playing field.

Featured

Private Bin

The Pringle Effect, AI costs, IRD spirits, Green gobbledygook

Our weekly collection of news bites, hot takes, and gossip around the town.

Economics

‘We’re in a different world’, cautions Nicola Willis

The Government responds to weaker-than-expected GDP economic data, and outlines measures to help households amid Iran conflict.

Economics

‘We’re in a different world’, cautions Nicola Willis

The Government responds to weaker-than-expected GDP economic data, and outlines measures to help households amid Iran conflict.

Politics

Select committee told new planning laws could be worse than RMA

Federated Farmers president Wayne Langford says if he couldn’t get a consent, he would have to walk away from his farm.

Politics

Select committee told new planning laws could be worse than RMA

Federated Farmers president Wayne Langford says if he couldn’t get a consent, he would have to walk away from his farm.

Property

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.

Property

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.

Edwards on Politics

The Treasury’s optimistic economic view of the Iran conflict

ANALYSIS: It might base its view on US Vice-President JD Vance’s assurance that President Trump isn’t as dumb as previous presidents.

Brent Edwards Thu, 19 Mar 2026

Underarm

New report puts ‘Robodebt’ scandal to bed, but smell lingers

ANALYSIS: Australia’s new National Anti-Corruption Commission releases long-awaited report on ‘Robodebt’ scandal that takes no action and raises questions about the Commission’s effectiveness.

Lachlan Colquhoun Wed, 18 Mar 2026

Margin Call

SaaSacre – buying opportunity or great value destroyer?

ANALYSIS: The risk is not near-term collapse; it’s long-run erosion in pricing power and premium economics.

James Cameron Tue, 17 Mar 2026

Shoeshine

An ugly solution to an age-old problem

ANALYSIS: A revamped offer from an unlisted property fund seeks to raise capital from new investors to help pay for the potential exits for older ones.

Nicholas Pointon Mon, 16 Mar 2026

Investment

NZX50 sinks as Iran strikes on Qatar chill Asian markets

NZ’s economy grew at a slower pace than anticipated in the December quarter.

Curious News Thu, 19 Mar 2026

Tourism Holdings shrugs off Iran conflict impact in leading NZX50

The Federal Reserve’s upcoming rate review is looming large.

Curious News Wed, 18 Mar 2026

Blue chips drag NZX50 higher as RBA hikes cash rate in close call

Nvidia’s Jensen Huang helped calm some of the nerves about tech.

Curious News Tue, 17 Mar 2026

Economics

Iran ‘bedlam’ to keep inflation elevated for longer: economists

The fragile economic recovery is now expected to take longer to mature as global conflict puts pressure on prices.

Jonathan Mitchell Mon, 16 Mar 2026

Middle East war puts ‘dated’ NZ GDP data in the rubbish bin

Economists reckon there was modest economic expansion at the end of 2025, as all eyes now turn to risks from the Iran war.

Jonathan Mitchell Mon, 16 Mar 2026

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

New Governor Anna Breman is getting out and speaking with businesses this month to gauge the health of the economy.

Jonathan Mitchell Fri, 20 Feb 2026

Politics

Willis outlines worst-case economic scenario of Iran conflict

Any government support package would be targeted and short-term.

Brent Edwards Mon, 16 Mar 2026

Minister hoping for bipartisan support of Holidays Act overhaul

Both employers and employees get ‘wins’ in the new payroll proposals, Brooke van Velden says.

Brent Edwards Thu, 12 Mar 2026

Covid-19 inquiry: mistakes made under time pressure

Macroeconomic forecasts found to be unreliable during the pandemic.

Brent Edwards Tue, 10 Mar 2026

Te Ao Māori

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

Iwi returns lift but stay low

Ten major iwi investors posted a 3.9% return in 2025, marking a third straight difficult year as property valuations and carbon markets weighed on results.

Mike McRoberts Tue, 24 Feb 2026

Primary Industries

Agri adviser launches $500m lending platform

NZAB Capital went live today to support the capital requirements of farmers.

Kate McVicar Tue, 17 Mar 2026

Miles Hurrell resigns as Fonterra boss

NBR reported earlier this month speculation was emerging he could soon announce exit plans.

NBR Staff Mon, 16 Mar 2026

What’s next for Fonterra CEO?

Co-op silent on speculation over succession planning.

Tim Hunter Tue, 03 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

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

On a silver Plattar: Kiwi augmented reality firm sold to UK giant

Rupert Deans remains managing director of the business he founded, now under the umbrella of one-time British unicorn Blippar.

Will Mace Fri, 13 Mar 2026

The knife-edge between failure and success: Iannick Monfils

Last year’s sale of Quantifi Photonics to a US customer meant a big payback for its Kiwi backers, but the CEO says success wasn’t guaranteed.

Fiona Rotherham Fri, 13 Mar 2026

Law

Total investor losses with McEwen unknown, says FMA

FMA says it halted investigation of financial adviser because he left the country and wouldn't co-operate.

Tim Hunter Wed, 18 Mar 2026

Manuka Doctor owner overturns UK costs order

The court found that despite Matthew Pringle’s ‘shameful and deceitful’ behaviour towards Liv Nervo, his legal conduct did not meet the threshold for a costs order.

Nicholas Pointon Tue, 17 Mar 2026

Getting technical over 90-day trial provisions

An Employment Relations Authority case argued whether an earlier cash job meant the employee was new or not in relation to a 90-day trial.

Fiona Rotherham Tue, 17 Mar 2026

Finance

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

Bank capital changes should lower rates, improve GDP: RBNZ

The central bank wants fair capital settings to support a ‘sustainable’ economy and manage the risk of failure.

Jonathan Mitchell Fri, 27 Feb 2026

Kiwibank targets untapped business potential

Profits up, margins tighter as Kiwibank focuses on business startups and entrepreneurs in need of a financial injection.

Jonathan Mitchell Thu, 26 Feb 2026

The NBR Podcast

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

Podcast #93: The battle for Auckland

LISTEN: Both National and Labour are focusing on the super city as a crucial path to power at this year’s general election.

Simon Shepherd Tue, 03 Mar 2026

General Business

Quick Takes of the Week to March 20

In case you missed it: News bites for the week.

NBR Staff Fri, 20 Mar 2026

Trump targets Nato over Strait of Hormuz; oil prices move higher

And Meta dismisses speculation of renewed job cuts to balance AI spend.

Jonathan Mitchell Tue, 17 Mar 2026

‘I’m going to have to leave NZ by 2028’: Sam Blackman

The Foreign Investment Fund review hasn’t fixed the problem of making New Zealand a place where talent wants to live.

Fiona Rotherham Tue, 17 Mar 2026

Deals

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

Ngāti Toa snaps up majority of Wellington infrastructure firm

From co-governance to control: after the debate over iwi influence in Three Waters governance, Ngāti Toa is not just looking for a seat at the table.

Mike McRoberts Wed, 18 Feb 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

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

Advocacy group pushes case for ‘natural infrastructure’

Investing in natural assets can reduce insurance risk and improve investment returns, says Aotearoa Circle.

NBR Staff Wed, 04 Mar 2026

Property

Subbies succeed in securing new Teak liquidator

Teak Construction sub-contractors voted to replace the shareholder-appointed liquidator with BDO today.

NBR Staff Wed, 18 Mar 2026

No false alarm: Fenz levy premiums will jump ‘an average’ 71%

Fire and Emergency NZ's levy will ramp up significantly from July for commercial building owners, after a change to insured value, which strips out depreciation.

Brent Melville Wed, 18 Mar 2026

Pegasus Golf course tipped into liquidation, assets seized

The golf resort, part of the sprawling Pegasus Town development near Woodend, was shuttered this week after a planned $90m sale fell through.

Brent Melville Fri, 13 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

Anzac air forces boost joint activities

Both have the same aircraft at Exercise Sea Dragon in Guam.

Nevil Gibson Wed, 18 Mar 2026

Mark Stewart’s ‘flying man room’ touches down in New Zealand

The NBR Rich Lister and aviation enthusiast purchased the 84-year-old DC-3 in 2023.

Kate McVicar Mon, 16 Mar 2026

Middle East turmoil benefits US carriers to NZ, Australia

Carry On: China Eastern’s Australian moves, Wizz Air and Fifa, new routes.

Nevil Gibson Sat, 14 Mar 2026

Energy

Gas NZ report highlights biomethane potential

Half our natural gas use could be supplied by diverting organic waste from landfill into biomethane production, says report.

Tim Hunter Tue, 17 Mar 2026

ComCom signals issues with Gull/NPD merger

Regulator says consolidation could substantially lessen competition in fuel retail.

Tim Hunter Tue, 17 Mar 2026

Govt tapping industry data daily as Hormuz Strait stays shut

Industry pragmatic as Government mulls response to potential fuel shock.

Tim Hunter Thu, 12 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

Two new appointments for NZX Wealth Technologies

Both Josh Hunt and Jarrod McDonald are familiar faces at the organisation.

Wed, 18 Mar 2026

Govt reappoints chair of Guardians of NZ Super board

The reappointment will maintain stability and continuity during the pre-election period and beyond, says Finance Minister Nicola Willis.

Thu, 12 Mar 2026

New CEO for Reefton Distilling Co

Lachlan Boyle will swap peanuts for whisky from the middle of May.

Thu, 12 Mar 2026

Oil shock response and when the personal becomes political

Oil shock response and when the personal becomes political

National Party leadership, the Covid-19 inquiry, petrol fears

Confusion over Iran, Brown’s blunt message, Bayly moving on

Free News Alerts

Iran knocks out natural gas, eyes shift off AI

Iran knocks out natural gas, eyes shift off AI

BA to return to Melbourne after 20-year hiatus

BA to return to Melbourne after 20-year hiatus

Rethinking AML/CFT levy proportionality

Rethinking AML/CFT levy proportionality

Vulcan Steel chair trims holding

Title

Mitigating a fuel crisis as long as a piece of string

NZX50 slides 1.5% as Middle East conflict leaves world on edge

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

Summerset’s proposed hike to director fees ‘reasonable’: NZSA

The real meaning of energy security

$200,000 dismissal threshold too low, employers say

Oil shock response and when the personal becomes political

Iran knocks out natural gas, eyes shift off AI

BA to return to Melbourne after 20-year hiatus

Rethinking AML/CFT levy proportionality

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

Mitigating a fuel crisis as long as a piece of string

‘I’m going to have to leave NZ by 2028’: Sam Blackman

The real meaning of energy security

Opportunity Party names election candidates

‘We’re in a different world’, cautions Nicola Willis

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

Willis outlines worst-case economic scenario of Iran conflict

Rakon narrows earnings guidance, takeover reaches 72% acceptance

BoE, ECB hold rates steady; Uber invests in EV firm

Govt looks to hand over historic Chateau Tongariro

More red ink for Octopus

The Pringle Effect, AI costs, IRD spirits, Green gobbledygook

‘We’re in a different world’, cautions Nicola Willis

‘We’re in a different world’, cautions Nicola Willis

Select committee told new planning laws could be worse than RMA

Select committee told new planning laws could be worse than RMA

Private property investors chip in $24.8b to economy

Private property investors chip in $24.8b to economy

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 Treasury’s optimistic economic view of the Iran conflict

New report puts ‘Robodebt’ scandal to bed, but smell lingers

SaaSacre – buying opportunity or great value destroyer?

An ugly solution to an age-old problem

Investment

NZX50 sinks as Iran strikes on Qatar chill Asian markets

Tourism Holdings shrugs off Iran conflict impact in leading NZX50

Blue chips drag NZX50 higher as RBA hikes cash rate in close call

Economics

Iran ‘bedlam’ to keep inflation elevated for longer: economists

Middle East war puts ‘dated’ NZ GDP data in the rubbish bin

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

Politics

Willis outlines worst-case economic scenario of Iran conflict

Minister hoping for bipartisan support of Holidays Act overhaul

Covid-19 inquiry: mistakes made under time pressure

Te Ao Māori

Ruapuke wins customary marine title, again

Māori call for change to traditional capitalist model

Iwi returns lift but stay low

Primary Industries

Agri adviser launches $500m lending platform

Miles Hurrell resigns as Fonterra boss

What’s next for Fonterra CEO?

Australia