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

Wed 22 Jul 2026 05:09:19pm

MARKET MOVEMENTS

Wed 22 Jul 2026 05:09:19pm

MARKET MOVEMENTS

Top Story

General Business

The sheriff who deals with NZ’s cowboy directors

Few people know about Peter Barker’s role. But the deputy registrar of companies has the power to punish bad business behaviour.

Nicholas Pointon Thu, 23 Jul 2026

General Business

The sheriff who deals with NZ’s cowboy directors

Few people know about Peter Barker’s role. But the deputy registrar of companies has the power to punish bad business behaviour.

Nicholas Pointon Thu, 23 Jul 2026

Those hoping for RMA consensus will have to keep waiting

ANALYSIS: The select committee has reported back the RMA reform legislation, but it remains politically contested.

Edwards on Politics

Those hoping for RMA consensus will have to keep waiting

ANALYSIS: The select committee has reported back the RMA reform legislation, but it remains politically contested.

Brent Edwards Thu, 23 Jul 2026

Infrastructure

Dunedin Hospital rises from sickbed, post-Covid capacity unknown

Health NZ, tasked with ‘building the future of hospital infrastructure’, says the DHB merger saw much of the information on its assets disappear.

Infrastructure

Dunedin Hospital rises from sickbed, post-Covid capacity unknown

Health NZ, tasked with ‘building the future of hospital infrastructure’, says the DHB merger saw much of the information on its assets disappear.

Brent Melville Thu, 23 Jul 2026

Economics

At-risk households still struggle to save

‘Savings accounts are too complicated, and they work in favour of the bank, not the customer,’ Kiwibank chief executive Steve Jurkovich says.

Economics

At-risk households still struggle to save

‘Savings accounts are too complicated, and they work in favour of the bank, not the customer,’ Kiwibank chief executive Steve Jurkovich says.

Jonathan Mitchell Thu, 23 Jul 2026

Quick Takes

Move Logistics appoints Graham Stuart as independent director

Move Logistics Group has appointed Graham Stuart as an independent director and chair of its audit and risk committee. Stuart is a former chief executive of Sealord, chief financial officer of Fonterra, and managing director of Lion Nathan International. He was also chair of NZX-listed Eroad and a director of Tower. He is currently chair of Northwest Healthcare Property Management and Milkio Foods, a director of Dairy Goat Cooperative, Ravensdown and VinPro, and an independent trustee of the University of Otago Foundation Trust. Move chair Julia Raue said Stuart's financial expertise made him well qualified to lead the audit committee. "He has significant experience in relevant sectors for Move, particularly large fleet, complex supply chains and the logistics sector. This, together with his strong governance and commercial expertise, will be a real asset as we continue to strengthen and grow our business."

SkyCity announces non-binding Grand Hotel sale deal

Casino operator SkyCity has announced a conditional deal to sell its Grand Hotel in Auckland for an undisclosed sum as it sells assets to reduce debt.
In a statement to the NZX, SkyCity said it had entered a non-binding heads of agreement with an undisclosed buyer, subject to completion of due diligence and negotiation of a sale and purchase agreement.
SkyCity said if the deal completes it would receive the cash proceeds in late 2026.
The deal follows the company’s $74.5 million sale this month of its Auckland office building at 99 Albert St, plus investment properties on Victoria Street, to a joint venture of Mainland Capital and Russell Property Group.
In a research note issued on Monday, Forsyth Barr analysts Paul Koraua and Andy Bowley estimated the Grand Hotel could sell for $200-$250m.
When combined with the property sales, they said the proceeds could allow SkyCity to reduce its net debt to about $250m, below the range the company was targeted to resume paying dividends.

Wed 22 Jul 2026 05:03:51pm

MARKET MOVEMENTS

The NBR Rich List – Click HERE

Receivers relinquish Kiwi Crunch leases

Market Close

NZX 50 rallies as SkyCity hits three-month high on hotel sale

Investment

Politics

Luxon says Fletcher cement bailout needed for national resilience

Seizing the moment: finalists named for annual leadership awards

More than 600 entries were received for Robert Walters’ third annual NZ Leadership Awards.

Investment

Vineyard values behind Booster’s PLP fund drop nearly $3.9m

Booster adopted a 1.9% decrease in the net asset value of PLP as it seeks to exit Hawke’s Bay operations.

Economics

RBNZ can proceed with further rate hikes, economists say

A jump in annual inflation to 4.1%, led by high fuel prices, means the OCR should climb back to a neutral level soon.

Professional Services

New chief executive at KPMG Australia as it moves on from scandal

The firm is also expected to announce widespread redundancies, of up to 10% of headcount.

Featured

General Business

Beware the rise of AI in shareholder activism, DLA Piper warns

Law firm says shareholder activism is on the rise, and new technology is adding further complexity to the challenge companies face.

The NBR Podcast

Podcast #113: Too many charities, not enough money

LISTEN: Barnardos boss Matt Reid on the charity’s generational plan to invest in Kiwi kids.

The NBR Podcast

Podcast #113: Too many charities, not enough money

LISTEN: Barnardos boss Matt Reid on the charity’s generational plan to invest in Kiwi kids.

Rich List

Featured Rich Lister: Sir Rod Drury

Sir Rod Drury has returned the recently awarded New Zealander of the Year gong, while rejecting allegations of unwanted sexual conduct against him.

Rich List

Featured Rich Lister: Sir Rod Drury

Sir Rod Drury has returned the recently awarded New Zealander of the Year gong, while rejecting allegations of unwanted sexual conduct against him.

Toil & Trouble

Time is ripe for regulating employment advocates, lawyer says

Catherine Stewart says this is a major access to justice issue rather than a ‘war on territory’.

Toil & Trouble

Time is ripe for regulating employment advocates, lawyer says

Analysis

Margin Call

Sharemarket turbulence beneath a calm surface

ANALYSIS: Although sharemarket indices might give the impression of quite normal market behaviour, the high level of individual stock volatility indicates some dangerous currents beneath.

Nicholas Bagnall Tue, 21 Jul 2026

Shoeshine

Voluntary administration regime needs more carrot, and stick

ANALYSIS: The Australian approach to save struggling small businesses has merits that ought to be explored here.

Nicholas Pointon Mon, 20 Jul 2026

Economy Matters

Why what Berlin does about its fiscal rules still affects NZ’s

ANALYSIS: Both countries are testing how much rule-based discipline they can still sustain.

Christoph Schumacher Mon, 20 Jul 2026

Guest Analysis

Why standard AI contracts may not address agentic AI risk

ANALYSIS: An agent that drafts internal communications poses very different risks from one authorised to execute financial transactions.

Alex Chapman Sun, 19 Jul 2026

Investment

NZX 50 falls as accelerating inflation keeps focus on oil prices

The kiwi dollar climbed to its highest level against the greenback since May.

Curious News Tue, 21 Jul 2026

NZX 50 inches higher in mixed Asian trading; oil prices rise

Fletcher Building secures a government subsidy to keep making concrete in Northland.

Curious News Mon, 20 Jul 2026

‘Relatively expensive’: Forbar downgrades Port of Tauranga

The investment firm also flagged the weaker backdrop for freight volumes in the year ahead.

NBR Staff Mon, 20 Jul 2026

Economics

Was the OCR hike too premature?

The agricultural sector is doing well, the export sector is doing well. The bit that isn't doing so well is household consumption, RBNZ chief economist Paul Conway says.

Jonathan Mitchell Wed, 15 Jul 2026

Hawks circle RBNZ as economy sputters to life

The economic recovery is expected to build momentum from here, but future OCR rate hikes are ‘data dependent’.

Jonathan Mitchell Thu, 09 Jul 2026

RBNZ jumps on inflation early with OCR hike

Economists were split about whether a 25bps hike to 2.5% was required this month.

Jonathan Mitchell Wed, 08 Jul 2026

Politics

Luxon says Fletcher cement bailout needed for national resilience

The Government is giving the company a $60m handout to keep its Golden Bay Cement business from closing at the end of the decade.

Nicholas Pointon Mon, 20 Jul 2026

Greens propose Kiwipower to fast track renewable energy build

Co-leader Chlöe Swarbrick says 200,000 households can’t afford to heat their homes while the power companies post big profits.

NBR Staff Mon, 20 Jul 2026

Winston Peters proposes $1b oil and gas spend

Exploiting offshore oil and gas will make New Zealand prosperous and secure, he says.

Brent Edwards Sun, 19 Jul 2026

Te Ao Māori

Māori enrolment campaign brings global success for ad agency

Motion Sickness’ win at Cannes has turned a kaupapa Māori enrolment campaign into an international calling card.

Mike McRoberts Fri, 10 Jul 2026

Nelson Tenths trustees front politicians on Abel Tasman concern

Nick Smith warned MPs not to rush the Nelson Tenths Bill, while Te Here ā Nuku trustees said Ngā Uri had already waited more than 180 years for land held on trust to be returned.

Mike McRoberts Wed, 08 Jul 2026

Tainui powers freight future

Craig West’s first feature interview as TGH CEO comes as Waikato Tainui looks to turn Ruakura into a national supply chain platform.

Mike McRoberts Wed, 01 Jul 2026

Primary Industries

Juken confirms Northland Mill closure, open to sale of assets

Northland councils continue to lobby Government for investment alongside potential unnamed buyer.

NBR Staff Wed, 15 Jul 2026

MyFarm’s apples go pear-shaped

The rural investor is seeking to liquidate Wade Glass’s parent company, Consolidated Fruits, over bad debts.

Karyn Scherer Tue, 14 Jul 2026

BNZ tips Springbank Honey into receivership

A receiver for the company says Springbank’s owner still hopes to secure an agreement with potential financiers.

Kate McVicar Tue, 14 Jul 2026

Australia

Another legal case for scandal-plagued WiseTech

The new case follows yesterday’s announcement that founder Richard White would step down as chair.

Lachlan Colquhoun Wed, 08 Jul 2026

Asic puts private credit on notice over valuations

The regulator says private credit is an area of ‘enforcement priority’ and it would not hesitate to take legal action against funds.

Lachlan Colquhoun Mon, 29 Jun 2026

ASX admits to misleading the market, cops A$20m fine

The exchange is seeking to draw a line under the clearing scandal and start afresh as it waits for the new chief executive.

Lachlan Colquhoun Mon, 15 Jun 2026

Tech & Innovation

Brand tracking platform Tracksuit acquires Aussie AI startup Hall

It has also expanded its global executive team with the hire of Tom Mansfield as chief marketing officer.

Fiona Rotherham Tue, 21 Jul 2026

Hefty upside for Lanaco as world-first filter hits the market

The move comes two years after it signed a deal with Unilever-owned Blueair.

Fiona Rotherham Thu, 16 Jul 2026

Russian state-backed router-hackers on the loose, Govt warns

The National Cyber Security Centre’s alert says ‘Center 16’ attackers are exploiting poorly configured and vulnerable networking devices worldwide.

Will Mace Thu, 16 Jul 2026

Law

Former Du Val contractor loses bid to register $1.4m award in NZ

Lawyers for the failed property group’s statutory managers argued Stuart Goodfellow was seeking an unfair advantage over other creditors.

Hamish McNicol Mon, 20 Jul 2026

Former Open Country Dairy exec pleads guilty to SFO charges

Simon Stewart has admitted to receiving more than $250,000 in kickbacks from an overseas customer of NZ’s second-largest milk processor, primarily owned by Talley’s.

NBR Staff Wed, 15 Jul 2026

IRD fraudster jailed for over five years after seeking $2 million

Nicholas Ngwun fabricated documents to apply for tax and Covid support, and even faked a rehab certificate to get a lighter sentence.

NBR Staff Tue, 14 Jul 2026

Finance

NZ’s wealthiest increasingly investing overseas, Citi banker says

Melanie Knowles targets ultra-high-net-worth clients with investable assets of at least US$10m.

Hamish McNicol Thu, 09 Jul 2026

Heartland-TSB merger opponents considering legal options

An incorporated society has been formed to assess the law if the proposed bank merger gets the green light.

Jonathan Mitchell Wed, 08 Jul 2026

Armstrong’s makes inroads into finance brokerage

‘We can bring some real credibility to that brokering space,’ says CEO Troy Kennedy.

Jonathan Mitchell Wed, 01 Jul 2026

The NBR Podcast

Podcast #112: Super El Niño economics

LISTEN: Unusually warm oceans, reduced rainfall on the east coast, and wetter on the west. What will it mean for the economy?

Simon Shepherd Tue, 14 Jul 2026

Podcast #111: Commerce Minister Cameron Brewer seeks FMA reset

LISTEN: The new commerce minister is interviewed on the market regulator, supermarket competition, and the shape of our capital markets.

Simon Shepherd Tue, 07 Jul 2026

Podcast #110: The China slowdown

LISTEN: Economic activity in our biggest trading partner is dropping off, so what does that mean for Kiwi companies?

Simon Shepherd Tue, 30 Jun 2026

General Business

Tech stocks recover; Trump threatens Iran escalation

The White House has tariffs back in its sights.

Curious News Wed, 22 Jul 2026

New UK PM pledges new economic model; oil prices ease

And NZ inflation expected to accelerate.

Curious News Tue, 21 Jul 2026

Resort receivers pursue Kiwi businessman’s parents

A new chapter has been written in the litigious saga involving Andrew Griffiths and the failed company behind a luxury Fijian resort.

Nicholas Pointon Tue, 21 Jul 2026

Deals

Morrison strikes mammoth deal with Japan’s largest trust bank

Infrastructure investment manager has sold a 15% stake to Sumitomo Mitsui Trust Bank.

NBR Staff Tue, 07 Jul 2026

Auckland ag-biotech acquired by NYSE-listed company in $90m deal

Biotelliga has been developing safe and sustainable solutions for managing crop pests and diseases.

NBR Staff Tue, 30 Jun 2026

Green Cross says medical division ‘rightly positioned’ for sale

Shareholders will vote on the $270m sale to Tend Health in mid-July.

Fiona Rotherham Mon, 29 Jun 2026

Tourism

Sudima management group signals IPO

Jhunjhnuwala family-owned Hind Management wants to ramp up ‘capital intensive’ growth via a public raise, with aspirations for global expansion.

Brent Melville Tue, 07 Jul 2026

Michelin campaign pushed to $8m over three years

Tourism New Zealand tips in part of its marketing budget to help attract big-spending foodies.

Brent Melville Thu, 02 Jul 2026

Govt outlines its vision for the future of tourism

Clear choices need to be made about where and how tourism is supported, it says.

NBR Staff Thu, 25 Jun 2026

Infrastructure

‘Partial withdrawal’ puts 85% of Auckland outside density rules

Developer raises concern that council was ‘intentionally’ closing the door as withdrawal couldn’t legally be restored.

Brent Melville Tue, 21 Jul 2026

Central Interceptor wastewater project goes onstream

The $1.66 billion project has already contended with the equivalent of 300 Olympic-sized swimming pools, Watercare says.

Brent Melville Mon, 20 Jul 2026

Kupe and Cook on schedule to arrive on time, on budget

Winston Peters says it will not be a repeat of Transmission Gully or the Auckland light rail project.

Brent Edwards Fri, 17 Jul 2026

Property

Du Val apartments attract ‘opportunistic’ bids

Low-ball offers for the 36-unit development are likely given the distressed nature of the sale process, developer says.

Brent Melville Tue, 14 Jul 2026

Seascape tower: 50 bidders line up for a tall order

The 56-level skyscraper could be reconfigured as student accommodation, architect says.

Brent Melville Thu, 09 Jul 2026

Winton’s Meehan resigns with immediate effect

Steven Joyce has been elected chair of the residential developer, with Meehan moving into a consulting role on ‘major development projects’ as required.

Brent Melville Mon, 06 Jul 2026

Professional Services

Perpetual Guardian launches new legal industry award ceremony

The 2026 New Zealand Legal Excellence Awards will present 19 awards in November.

Hamish McNicol Mon, 13 Jul 2026

Asic to probe internal complaints processes at Aussie Big Four

The probe follows a Treasury review, which has given the Government a range of options for tighter regulation of the sector.

Lachlan Colquhoun Thu, 09 Jul 2026

Aussie govt mulls tighter regulation for consultants

The review is a response to ongoing scandals which have forced the resignation of chief executives at two leading firms.

Lachlan Colquhoun Wed, 01 Jul 2026

NBR Focus

Unlocking Aotearoa: tech guru Bowen Pan

WATCH: The final in our weekly series on what is holding Aotearoa back, and how we can unleash its potential.

Simon Shepherd Wed, 17 Jun 2026

Unlocking Aotearoa: entrepreneur Cecilia Robinson

WATCH: Our weekly series on what is holding Aotearoa back, and how we can unleash its potential.

Simon Shepherd Wed, 10 Jun 2026

Unlocking Aotearoa: Naomi Ballantyne

WATCH: Our new weekly series on what is holding Aotearoa back, and how we can unleash its potential.

Simon Shepherd Wed, 03 Jun 2026

Retail

How Wet & Forget is cleaning up on the world stage

Since its sale two years ago, the 30-year-old cleaning products company has been focused on the future.

Kate McVicar Fri, 17 Jul 2026

Beauty sector owes $60m in tax amid unpredictable trading

‘You’ve just had to become more savvy and more aware of your business side of things, rather than just chugging along day to day,’ industry expert says.

Kate McVicar Tue, 07 Jul 2026

Fast food providers struggling with a slow economy

Local operators say it’s like ‘walking through treacle’, although multinational delivery services and fast food giants continue to grow.

Kate McVicar Thu, 25 Jun 2026

Luxury Property

Albert St penthouse, golf links, or lakeside luxury

Auckland city’s $16m penthouse still comes in at less than the first completed home to hit the market at Te Arai Links.

Brent Melville Wed, 01 Jul 2026

Andersons Cove record, Arney’s back, Aussies eye NZ ‘tax haven’

Bream Tail Road estate is reputed to have fetched more than its $40 million asking price.

Brent Melville Wed, 27 May 2026

Flying the White Heron, Royal Yacht sale, golden visas ramp up

Luxury market picks up, partially on the back of surging international sales, with 15 applications received by international buyers under the so-called ‘golden visa’.

Brent Melville Wed, 29 Apr 2026

Aviation News

Farnborough day two: Boeing lands passenger, freighter deals

Philippines Airlines doubles down on Airbus A350-1000s.

Nevil Gibson Wed, 22 Jul 2026

Leasing giant headlines Farnborough’s opening day

Britain’s biggest airshow runs all week.

Nevil Gibson Tue, 21 Jul 2026

Western Sydney clips highflyer business jets

Carry On: Vietjet’s Aussie plans, Iran’s forbidden B777s, biometrics in Doha.

Nevil Gibson Sat, 18 Jul 2026

Energy

EA moves on excessive upfront connection charges

Vector says the electricity regulator hasn’t proven there’s a problem, while developers claim the changes will be ineffective at best.

Brent Melville Thu, 16 Jul 2026

Biorefinery’s cagey consortium leader says more info soon

US firm Seadra Energy rebuffs questions as Marsden Point mega-project grinds on.

Tim Hunter Wed, 15 Jul 2026

Proposed biorefinery adds fertiliser to product mix

Ballance Agri-Nutrients signs up as future customer of Marsden Point project.

NBR Staff Mon, 13 Jul 2026

Rich List

Featured Rich Lister: Sir Michael Friedlander

Sir Michael’s Friedlander Foundation is focused on the arts, youth development, and medical research.

Brent Melville Tue, 21 Jul 2026

Featured Rich Listers: Sir Peter Jackson & Dame Fran Walsh

The Hunt for Gollum – the latest LotR spinoff film, following the hobbits’ origin story – has kept the power couple busy this past year.

Nicholas Pointon Mon, 20 Jul 2026

Featured Rich Listers: Todd family

While the Todd family’s energy businesses have leaned heavily on oil and gas, the future is more aligned with renewable energy.

Owen Poland Fri, 17 Jul 2026

Marketing & Media

MediaWorks said to be up for sale as it gets back in the black

A report from across the Tasman says the radio broadcaster’s private equity owner is soliciting bids for the business.

NBR Staff Tue, 21 Apr 2026

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

Comings & Goings

Inaugural chief found for Queenstown water utility

Maseina Koneferenisi has been confirmed in the role, after overseeing the establishment of the organisation since February.

Wed, 22 Jul 2026

Accident Compensation Corporation appoints CEO

Sid Miller will start on September 21; in the interim, Stewart McRobie will serve as acting chief executive.

Tue, 21 Jul 2026

Powerco appoints general manager – people, safety and culture

Craig Stewart joined Powerco in 2022 as head of health and safety, after working in the ports, rail, finance, and health sectors in NZ and internationally.

Tue, 21 Jul 2026

The sheriff who deals with NZ’s cowboy directors

The sheriff who deals with NZ’s cowboy directors

SPQR director treated company like a ‘piggy bank’

Decline in director bans expected to reverse

Free News Alerts

Those hoping for RMA consensus will have to keep waiting

Those hoping for RMA consensus will have to keep waiting

Dunedin Hospital rises from sickbed, post-Covid capacity unknown

Dunedin Hospital rises from sickbed, post-Covid capacity unknown

At-risk households still struggle to save

At-risk households still struggle to save

Move Logistics appoints Graham Stuart as independent director

SkyCity announces non-binding Grand Hotel sale deal

Title

Receivers relinquish Kiwi Crunch leases

NZX 50 rallies as SkyCity hits three-month high on hotel sale

David Ferrier increases Bremworth holding to 19.7%

KMD Brands flags improvement at Kathmandu

Gallagher Group chief executive Kahl Betham resigns

Iwi leaders back Northland power outage class action

At-risk households still struggle to save

Dunedin Hospital rises from sickbed, post-Covid capacity unknown

The sheriff who deals with NZ’s cowboy directors

Those hoping for RMA consensus will have to keep waiting

Seizing the moment: finalists named for annual leadership awards

David Ferrier increases Bremworth holding to 19.7%

Just make changes to wholesale investor category, already

Winston Peters proposes $1b oil and gas spend

Greens propose Kiwipower to fast track renewable energy build

Fletchers receives $60m ‘one-time’ Govt subsidy for concrete firm

Kiwis working more, producing less than almost all peers: report

Luxon says Fletcher cement bailout needed for national resilience

Seizing the moment: finalists named for annual leadership awards

Vineyard values behind Booster’s PLP fund drop nearly $3.9m

RBNZ can proceed with further rate hikes, economists say

New chief executive at KPMG Australia as it moves on from scandal

Beware the rise of AI in shareholder activism, DLA Piper warns

Podcast #113: Too many charities, not enough money

Podcast #113: Too many charities, not enough money

Featured Rich Lister: Sir Rod Drury

Featured Rich Lister: Sir Rod Drury

Time is ripe for regulating employment advocates, lawyer says

Time is ripe for regulating employment advocates, lawyer says

Mbie sharing appears ‘contrary to law’: Ombudsman

Solar power policies

Reserve Bank lifts the OCR

Tainui powers freight future

“People aren’t stupid... corporates are raking in record profits,”: Swarbrick

A plan to make KiwiSaver compulsory

“Diametrically opposed to the truth”: Stanford

Policy costings and reaction “AI slop”

The NBR Rich List: 40th Anniversary Edition

The NBR Rich List: Political donations

The NBR Rich List: Editor’s Overview

The NBR Rich List: Owen Poland talks wealth

The Women’s List 2026: importance of role models

The NBR Rich List: Top 10 Countdown

Labour’s list and public transport policy

New Zealand's nuclear-free position

Unlocking Aotearoa: Naomi Ballantyne

Unlocking Aotearoa: TPT Group founder Mike Marr

Unlocking Aotearoa: Malcolm Jackson

Unlocking Aotearoa: Dame Joan Withers

Sharemarket turbulence beneath a calm surface

Voluntary administration regime needs more carrot, and stick

Why what Berlin does about its fiscal rules still affects NZ’s

Why standard AI contracts may not address agentic AI risk

Investment

NZX 50 falls as accelerating inflation keeps focus on oil prices

NZX 50 inches higher in mixed Asian trading; oil prices rise

‘Relatively expensive’: Forbar downgrades Port of Tauranga

Economics

Was the OCR hike too premature?

Hawks circle RBNZ as economy sputters to life

RBNZ jumps on inflation early with OCR hike

Politics

Luxon says Fletcher cement bailout needed for national resilience

Greens propose Kiwipower to fast track renewable energy build

Winston Peters proposes $1b oil and gas spend

Te Ao Māori