My Food Bag has been the poster child of the ever-popular meal-kit game since it first began trading in 2013. Now that it’s heading to the stock market, investors are lining up to get in on the action. What’s all this then? New Zealand’s longest-running meal kit delivery company, My Food Bag, has been in … Read more
Good morning and welcome to The Bulletin. In today’s edition: Reports show diverging outcomes from Covid-relief benefit, Aucklanders head off at end of lockdown, and police quietly setting up facial recognition system. We’re starting to see a wide divergence in outcomes from the Covid-19 Income Relief Payment benefit, introduced at the start of the pandemic. At … Read more
Over most of last week, the NZX had to pause because of persistent cyber attacks. Similar attacks have today been reported against news websites. So how did they come through basically unscathed? The NZX stock exchange is a critical piece of financial infrastructure, yet persistent cyber attacks have caused website crashes that led to trading … Read more
Good morning and welcome to The Bulletin. In today’s edition: Auckland drops down to alert level two, poor government communications create huge queues for testing, and eyebrows raised at US ambassador dodging quarantine facilities. Ready or not, the country’s largest city is as of this morning at alert level two. It’s fair enough to ask whether … Read more
Good morning and welcome to The Bulletin. In today’s edition: Mixed messages on freshwater regulations, Christchurch gunman won’t address court, and an important story about what happens after a positive Covid-19 test. National leader Judith Collins has told a Facebook live chat that the government’s freshwater regulations will be “gone by lunchtime” if National wins. As Stuff’s Henry … Read more
The NZX was taken offline yesterday and today in response to cyber attacks – potentially from Russian gangs. What’s all this then? For the second time in two days, the New Zealand stock exchange NZX was taken offline late this morning in response to offshore cyber attacks. The exchange went down around 11.20am this morning … Read more
Retail investors should invest in companies that have paid out dividends, been ahead of new trends or been able to push pause during the Covid-19 crisis, reports Dan Brunskill for BusinessDesk. Picking the next round of gains is a difficult challenge in a market that has been reordered by the pandemic, but humanity’s ability to … Read more
Good morning and welcome to The Bulletin. In today’s edition: How the budget has been received, Auckland light rail on hold, and more media merger shenanigans. So that’s what it looks like when Grant Robertson decides to open the purse strings. The relatively cautious spending of his previous budgets has been replaced by an absolute … Read more
Good morning, and welcome to The Bulletin. In today’s edition: Shareholders approve of sale of TradeMe to private equity firm, family ties between Shane Jones and logging boss, and Newsroom journalists detained in Fiji. TradeMe shareholders have given overwhelming backing to a takeover offer from a British private equity firm called Apax Partners, reports Business Desk. It’s the … Read more
Milk is practically white gold, right? Turns out not so much, with Fonterra announcing a huge loss for the year. Business editor Maria Slade explains why our biggest dairy company has lost so much money. Has our largest company really made its first ever loss? Yes. Fonterra Co-operative Group has announced a $196 million loss … Read more
A2 Milk Co briefly burst through a landmark this week, reaching a market capitalisation of $10 billion on news of its deal with Fonterra. Here are ten numbers which encapsulate the milk brand’s inexorable rise. $14.62 A2’s shares rocketed up to over $14 this week (but fell back a little to settle just under $13) … Read more
Imagine you didn’t get paid for a month or two for your work. Big businesses have used this tactic to keep cash in the bank – but how long do our corporates take to pay? Rebecca Stevenson investigates. In New Zealand, they account for 97% of businesses. In Australia, 97%. In the UK, 96%. Small … Read more
Fletcher. The name is synonymous with construction and building in New Zealand, and has been since, well, forever. But it’s been in the news for all the wrong reasons lately – here are ten numbers that sum up the company’s bad news streak. $660 million This morning, Fletcher Building announced losses from its Building and … Read more
Welcome to the Cheat Sheet, a clickable, shareable, bite-sized FAQ on the news of the moment. Today, we take a wild ride with global share markets. There’s carnage on Wall Street! Well, not exactly. Carnage means of the flesh, and while it’s nice to imagine corporate fat-cats sliced and diced 70 ways, no-one has actually … Read more
Xero’s announcement that it will list solely on the ASX has ruffled some feathers. But if publicly listed companies are looking for better access to funds for growth, there’s no reason to write the New Zealand Stock Exchange off just yet says Mark Hattersley. When soccer superstar Wayne Rooney threatened to leave Manchester United in … Read more
Cloud accounting technology company Xero just announced two things: a very positive half-year financial result, and that it is exiting the New Zealand stock exchange. Rebecca Stevenson considers what this means for our investment landscape. New Zealand cloud accounting firm Xero announced its half-year result today and it was a ripper for the company – and … Read more