2021-09-06T22:20:00Z	**The government's $24.3b transport spend**
Government’s contentious Auckland cycle bridge has officially received the heave ho.

The planned $785 million bridge, to span the Waitematā harbour, was announced in early June, but panned as waste of taxpayer money. ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/the-governments-243b-transport-spend)
2021-09-06T21:15:00Z	**Ryman appoints Richard Umbers as its next chief executive**
Ryman Healthcare has appointed Richard Umbers, a former Progressive Enterprises managing director, as its new chief executive to succeed Gordon MacLeod from Oct 25.

MacLeod announced earlier this year that he wanted to step down. ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/ryman-appoints-richard-umbers-as-its-next-chief-executive)
2021-09-06T20:20:00Z	**Wake Up Call: More vaccines on the way?**
**Summary** Another milestone has been reached in legislation aimed at preventing another scenario where the government has to step in to decommission an oil field, as it did with the Tui oil field. Truckies are concerned about a new weekly border testing regime aimed at keeping covid confined to Auckland.

**Decommissioning regulations** Submissions close today on consultation for new regulations aimed at ensuring that those who undertook an ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/wake-up-call-more-vaccines-on-the-way)
2021-09-06T17:00:00Z	**Outdoor advertising bears the brunt of lockdown**
Outdoor advertising has felt the full force of nationwide lockdown restrictions, with audience reach down by two thirds in Auckland, according to an industry trade body.

Out of Home Media Association Aotearoa (OOHMAA) says reach is down by 62% in Auckland, 52% in Wellington, and 68% in Christchurch, based on Landmarks ID data for the week commencing August 23. ⌘ [Read more](https://businessdesk.co.nz/article/media/outdoor-advertising-bears-the-brunt-of-lockdown)
2021-09-06T17:00:00Z	**How to market your business in lockdown**
When times are tough (and doors are closed), it can feel like the only thing worth doing is to sit back and hope for the best. It certainly doesn’t feel like the ideal time to market your service-based business.

However, right now is a great time to do just that. ⌘ [Read more](https://businessdesk.co.nz/article/business-advice/how-to-market-your-business-in-lockdown)
2021-09-06T17:00:00Z	**Business is better with a (B Corp) conscience**
American economist Milton Friedman’s business philosophy from the 1970s has dominated Western thinking. He believed that businesses aren’t here to apply social or environmental lenses to their work. Instead, a business should focus on maximising financial returns and paying decent dividends to shareholders. The only boundaries should be imposed by law, not dreamed up by some CEO’s conscience or enlightened personal value ... ⌘ [Read more](https://businessdesk.co.nz/article/business-advice/business-is-better-with-a-b-corp-conscience)
2021-09-06T17:00:00Z	**Island time: Waiheke's resilient property market**
Boom times are continuing for Waiheke Island's property market despite the huge impact of the covid response on the New Zealand tourism market.

The 92 square kilometre Hauraki Island and home to 10,000 permanent residents, is only a half-hour trip from downtown Auckland but has managed to remain free of the delta strain of the virus. ⌘ [Read more](https://businessdesk.co.nz/article/property/island-time-waihekes-resilient-property-market)
2021-09-06T05:33:05Z	**NZX 50 makes seven day gain run**
New Zealand’s benchmark equity index eked out its seventh consecutive gain led by potential growth stocks Pacific Edge and Sky TV.

The S&P/NZX 50 Index rose 8.9 points, or 0.1%, to 13,300.03. Turnover was $118.8 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/nzx-50-makes-seven-day-gain-run)
2021-09-06T05:00:51Z	**NZ, except Auckland, to move to level 2**
All of New Zealand outside Auckland will move down to level 2 lockdown restrictions on Tuesday at 11:59 pm.

Auckland remains at level 4 until at least Sept 13. ⌘ [Read more](https://businessdesk.co.nz/article/policy/nz-except-auckland-to-move-to-level-2)
2021-09-06T04:25:00Z	**Biscuit brand Griffin’s new owner**
German giant Intersnack Group will become the new owner of biscuit maker Griffin’s Foods after it agreed to buy out the remaining shares of a joint venture with Universal Robina.

In a statement provided to BusinessDesk, Intersnack said it would acquire the further 60% of shares in Griffin’s owner Unisnack NZ. The sale price and terms were not disclosed. ⌘ [Read more](https://businessdesk.co.nz/article/retail/biscuit-brand-griffins-new-owner)
2021-09-06T04:08:32Z	**Transport sector fears disruption due to Auckland border testing**
The government's new requirement for rolling weekly covid tests for drivers crossing the Auckland border will only add further disruption to an already stressed road supply chain, says Road Transport Forum chief executive Nick Leggett.

Director general of health Ashley Bloomfield said that the 3,000 essential workers who were crossing the Auckland boundary will be subject to "surveillan ... ⌘ [Read more](https://businessdesk.co.nz/article/coronavirus/transport-sector-fears-disruption-due-to-auckland-border-testing)
2021-09-06T03:40:46Z	**Mainzeal case to be heard in the top court**
The long-running Mainzeal case will have its day in the supreme court after leave was granted for appeals and cross-appeals by both [directors](https://businessdesk.co.nz/article/yan-seeks-mainzeal-appeal) and [liquidators](https://businessdesk.co.nz/article/mainzeal-liquidator-asks-for-more) of the failed construction firm.

Justices Susan Glazebrook, Mark O’Regan and Ellen France granted all parties leave to pursue their re ... ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/mainzeal-case-to-be-heard-in-the-top-court)
2021-09-06T01:00:00Z	**ASX firm funnels cash for global multi-level marketing scheme**
The Australian corporate watchdog is monitoring ASX-listed Emerge Gaming, which last week revealed 98% of its revenue is derived from Crowd1 Network, a multi-level marketing company that has been the subject of warnings from several international regulators including in New Zealand.

Emerge Gaming, a small Perth-based company with a market capitalisation of just A$30 million, booked revenue ... ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/asx-firm-funnels-cash-for-global-multi-level-marketing-scheme)
2021-09-06T00:30:00Z	**Developers build better vaccine booking website**
A team of young software developers have built a new vaccine booking website, after becoming frustrated by the user interface on the official government one.

Ilia Sidorenko, one of the team of eight, said they noticed people were having trouble finding the soonest available booking through the official vaccine booking website. ⌘ [Read more](https://businessdesk.co.nz/article/technology/developers-build-better-vaccine-booking-website)
2021-09-06T00:00:00Z	**The strange case of the non-existent MIQ records**
The Managed Isolation and Quarantine (MIQ) system is coming under increasing pressure in recent months.

During this time period, BusinessDesk has been trying to get access to basic data that would show exactly how many people are coming through MIQ, its capacity and how that compares to room allocations from the Ministry of Business, Innovation and Employment (MBIE), the department in charge of MIQ. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/the-strange-case-of-the-non-existent-miq-records)
2021-09-05T23:30:00Z	**A2 Milk to be bumped out of S&P ASX50**
A2 Milk’s pain continues with news the infant formula maker is being dropped from the S&P ASX 50.

The company’s market capitalisation has dropped to A$4.26 billion, which will see it bumped out of the S&P ASX 50 prior to the open of trading on Sept 20, according to the latest quarterly rebalance by the S&P Dow Jones Indices. The threshold for inclusion is A$5 billion. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/a2-milk-to-be-bumped-out-of-sp-asx50)
2021-09-05T23:00:00Z	**Supplement brand Jeuneora pitches for $3m**
Health and beauty brand Jeuneora is aiming to raise up to $3 million on crowdfunding platform Snowball Effect.

The five year old business, which sells marine collagen and plant-based supplements, plans to use the capital to grow into international markets and expand its product range. ⌘ [Read more](https://businessdesk.co.nz/article/news-in-brief/supplement-brand-jeuneora-pitches-for-3m)
2021-09-05T22:05:46Z	**Pushpay hires Richard Keys as interim CFO**
Church software company Pushpay Holdings said it has appointed Richard Keys as interim chief financial officer while it continues its search for a US-based permanent CFO.

Keys, who was most recently chief executive of Abano Healthcare before it was taken over last year, will work on a consultancy basis, with existing CFO Shane Sampson leaving at the end of September and moving to be CFO at travel management software firm Serko from Oct ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/pushpay-hires-richard-keys-as-interim-cfo)
2021-09-05T21:10:05Z	**Third Age Health finds new CEO**
Third Age Health has hired former ProCare chief financial officer Tony Wai as its new chief executive, but shareholders won’t meet him at this month’s annual meeting because he doesn't start until Sept 27.

The primary care provider has been searching for a new CEO since long-serving chief Michael Haskell flagged plans to step down after eight years at the helm, including its listing early this year. ⌘ [Read more](https://businessdesk.co.nz/article/listed-companies/third-age-health-finds-new-ceo)
2021-09-05T20:00:00Z	**Wake Up Call: Nark Zealand dobs in businesses for covid breaches**
**Summary** Most of New Zealand could move to level 2 tomorrow night, with a government decision due this afternoon. Auckland is likely to remain in level 4 to eliminate declining covid cases. Zespri, Rocket Lab, Tait Communications and Orion Health were the four largest recipients of Callaghan’s innovation fund.

**Level 2 decision** Cabinet will decide today whether most of the country wi ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/wake-up-call-nark-zealand-dobs-in-businesses-for-covid-breaches)
2021-09-07T00:00:00Z	**Long wait for new health builds**
Only 12 of 40 health infrastructure package (HIP) projects will be finished by next June, with a further nine yet to be fully approved.

In January 2020, the coalition government announced $300 million for HIP projects to improve and overhaul ageing health infrastructure. The package was included as part of the $12 billion New Zealand upgrade programme, promoted at the time as a once-in-a-lifetime opportunity to modernise infrastructure and grow the ... ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/long-wait-for-new-health-builds)
2021-09-07T00:10:16Z	**Deputy RBNZ governor Bascand to leave in January**
Deputy governor and general manager financial stability Geoff Bascand will leave the Reserve Bank of New Zealand (RBNZ) in January.

“Geoff has made an incredible contribution to the bank, and we’re indebted to his leadership, guidance and wisdom,” said RBNZ governor Adrian Orr. ⌘ [Read more](https://businessdesk.co.nz/article/news-in-brief/deputy-rbnz-governor-bascand-to-leave-in-january)
2021-09-07T01:00:00Z	**Sale or float? Heritage Lifecare owner mulls options**
Australian private equity firm Adamantem Capital has confirmed it is looking at options for aged care provider Heritage Lifecare and has appointed advisory firm Gresham to assist.

Adamantem typically holds investments for three-to-five years and has controlled Heritage since April 2017 when it bought 79% of the business and a year later it gained Overseas Investment Office approval to lift its stake to 100%. ⌘ [Read more](https://businessdesk.co.nz/article/property/sale-or-float-heritage-lifecare-owner-mulls-options)
2021-09-07T02:26:01Z	**Rules relaxed for home building products in Auckland**
Building supplies companies are welcoming the government's relaxation of Auckland's alert level 4 covid-19 restrictions to allow some building product manufacturing to support residential construction activities across the country.

"There are supply chain issues that arise from alert level 4 as building products that are manufactured domestically are mostly manufactured in Auckland," said finance minister Grant R ... ⌘ [Read more](https://businessdesk.co.nz/article/property/rules-relaxed-for-home-building-products-in-auckland)
2021-09-07T04:00:15Z	**L2 Delta will force restaurants under, owners say**
Restaurant and bar owners say it makes no sense to move from level 3 restrictions to the new delta level 2.5 settings, given the impossible trading conditions it creates and the lack of government support.

Luke Dallow, owner of Ponsonby’s Midnight Gardener restaurant and spokesperson for a group of more than 40 hospitality owners from Auckland and around the country, said business owners “just can’t survive” under ... ⌘ [Read more](https://businessdesk.co.nz/article/retail/l2-delta-will-force-restaurants-under-owners-say)
2021-09-07T05:48:32Z	**NZ shares rise as nationwide lockdown ends**
New Zealand shares took another step higher, led by stocks that are likely to benefit from the end of lockdown in much of the country.

The S&P/NZX 50 Index rose 21.96 points, or 0.2%, to 13321.99 – now up almost 5% this month and down just 0.3% this year. Turnover was $143 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/nz-shares-rise-as-nationwide-lockdown-ends)
2021-09-07T17:00:05Z	**$52m of forfeited fishing boats quickly returned to service**
In the past five years, commercial fishers have forfeited 30 ships collectively worth $52 million to the Crown for fishing offences.

In the same period fishers, have paid $524,595 in redemption fees to recover their vessels — or about 1% of the estimated value of all ships forfeited, with only a small number of the 30 cases yet to be resolved. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/52m-of-forfeited-fishing-boats-quickly-returned-to-service)
2021-09-07T17:00:00Z	**BNZ sees higher inflation with slower growth**
New Zealand is likely to be facing higher inflation with lower growth, but not stagflation, when we finally reopen our borders, according to Bank of New Zealand head of research Stephen Toplis.

He's concerned too many people are expecting life to return to normal once sufficiently high vaccination rates make lockdowns and the elimination strategy unfeasible. ⌘ [Read more](https://businessdesk.co.nz/article/economy/bnz-sees-higher-inflation-with-slower-growth)
2021-09-07T17:00:00Z	**Time for the major banks to step up**
An under-appreciated reason for business failure is a lack of working capital - the cash to manage short-term commitments and operations.

Throw together supply chain disruptions, rapidly escalating costs, labour and productivity disruptions, and lockdowns, and you have pressure on business cashflow. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/time-for-the-major-banks-to-step-up)
2021-09-07T17:00:00Z	**New oil law threatens economy and reputation says sector**
Changes to the law on decommissioning oil fields will cost the country about $1 billion and undermine investment in gas fields that are already facing supply constraints, says the sector’s peak representative body.

Energy Resources Aotearoa (formerly the Petroleum Exploration and Production Association of New Zealand) said it supports codifying decommissioning obligations and new ministerial powers in the ... ⌘ [Read more](https://businessdesk.co.nz/article/energy/new-oil-law-threatens-economy-and-reputation-says-sector)
2021-09-07T17:00:00Z	**Craig Hutchison and the art of SEN**
If there's one thing Craig Hutchison says he learned early in his sports journalism career, it’s that it takes “big balls” to succeed.

And if Hutchison – a university dropout who built a sports media empire across the Tasman that he is now bringing to New Zealand – has anything, it’s big kahunas. ⌘ [Read more](https://businessdesk.co.nz/article/media/craig-hutchison-and-the-art-of-sen)
2021-09-07T17:00:00Z	**The five hottest NZ biotech startups**
There’s no better time than now to talk biotech.

The 21st century has often been hailed as the age of biotechnology. In fact, researchers are now [very close to completing the full human genome](https://www.nature.com/articles/d41586-021-01506-w) sequence. We still had a few missing bits from the first time around. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/the-five-hottest-nz-biotech-startups)
2021-09-07T20:00:00Z	**Wake up call: Christmas surcharges for shipping**
**Summary** Most of NZ wakes up to new level two covid-related restrictions, while Auckland remains at level four. Truckies and other essential workers crossing the north and south borders will have to undergo compulsory testing in an effort to contain covid, which is still turning up in unlinked cases, to Auckland.

**Truckies tested** Mandatory surveillance testing for truckies and other essential workers crossing the borde ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/wake-up-call-christmas-surcharges-for-shipping)
2021-09-07T21:00:40Z	**Almost good: a tale of responsible investing**
New Zealand is about two-thirds good, according to the latest annual survey of the local responsible investment market.

The Responsible Investment Association Australasia study found about $221 billion of an estimated $328b total NZ funds under management had some claim to goodness as measured by environmental, social and governance – or ESG – awareness. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/almost-good-a-tale-of-responsible-investing)
2021-09-07T23:45:51Z	**Cyberattacks target NZ websites and banks**
Cyber-attacks are causing intermittent service issues for New Zealand websites and banking services.

"Cert NZ is aware of a DDoS attack targeting a number of New Zealand organisations," government cybersecurity agency Cert NZ tweeted Wednesday morning. ⌘ [Read more](https://businessdesk.co.nz/article/technology/cyberattacks-target-nz-websites-and-banks)
2021-09-08T00:22:55Z	**Crypto ‘stabilises’ KiwiSaver portfolios, NZ Funds CEO tells MPs**
Volatile digital assets such as bitcoin actually stabilise KiwiSaver portfolios as they are detached from economic cycles, the chief executive of NZ Funds argued to a parliamentary inquiry into crypto-currencies.

NZ Funds landed itself in trouble with the Financial Markets Authority this year after advertising its growth fund had doubled in value in the year ended March 2021 - the huge cap ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/crypto-stabilises-kiwisaver-portfolios-nz-funds-ceo-tells-mps)
2021-09-08T02:15:00Z	**Synlait shake up from top to bottom**
Job cuts at Synlait Milk will impact nearly all parts of the organisation, according to the head of the New Zealand Dairy Workers Union.

“We’ve been informed that it’s quite a transformational restructure and that it’s going to affect nearly all parts of the organisation,” said national secretary Chris Flatt. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/synlait-shake-up-from-top-to-bottom)
2021-09-08T03:05:52Z	**Pacific Edge rebuffs ASX capital raise information**
Pacific Edge says information released by the Australian Stock Exchange (ASX) about a large capital raise was incorrect and has been withdrawn.

The cancer diagnostics firm asked NZ RegCo to put the stock in a trading halt at midday to give it time to respond to “an announcement regarding its ASX dual listing application and intended capital raise”. ⌘ [Read more](https://businessdesk.co.nz/article/markets/pacific-edge-rebuffs-asx-capital-raise-information)
2021-09-08T05:15:36Z	**Te Rehutai IP - The Real Elephant in the Room**
I read a [news report this week](https://businessdesk.co.nz/article/olive-branch-no-chequebook-for-dalton-in-americas-cup-wrangle) that described Mark Dunphy, the rich lister who claims he has the funds to stage the defence of the America’s Cup in NZ, as being “the media-shy former Fay Richwhite executive with a reputation for ruthless commercial dealings”.

It helped answer one of the questions that has been hanging over th ... ⌘ [Read more](https://businessdesk.co.nz/article/opinion/te-rehutai-ip-the-real-elephant-in-the-room)
2021-09-08T05:57:44Z	**NZ shares snap 7-day rally**
New Zealand shares snapped a seven-day rally, which saw the benchmark index up 2%, as two heavyweight stocks dragged the market lower.

The S&P/NZX 50 Index fell 131 points, or 1%, to 13,193.01. Turnover was $197 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/nz-shares-snap-7-day-rally)
2021-09-08T17:00:55Z	**Haka Lodges sell into $500m ‘flashpacker’ hotel hybrid**
Ryan Sanders’ Haka Tourism Group will inject five New Zealand properties into the new Drifter Hospitality brand, a portfolio of hotels created with the backing of Sydney investment bank Barrenjoey.

According to its ‘teaser’ investment pitch, Drifter will look to an initial A$75 million equity raise for the purchase of the existing backpacker Haka Lodges. ⌘ [Read more](https://businessdesk.co.nz/article/property/haka-lodges-sell-into-500m-flashpacker-hotel-hybrid)
2021-09-08T17:00:35Z	**August was the cruellest month for wary electricity sector**
The electricity system operator and energy analysts agree that August was one of the most difficult the sector has faced since the electricity market began and it has heightened the risk of regulatory intervention.

The Electricity Authority (EA) is due to release its first cut on what caused the Aug 9 blackout – the single event that dominated the headlines and prompted the system operator Transpower  ... ⌘ [Read more](https://businessdesk.co.nz/article/energy/august-was-the-cruellest-month-for-wary-electricity-sector)
2021-09-08T17:00:12Z	**Pfizer – a huge covid-19 winner**
Pfizer has been the clear covid-19 vaccine leader in the western world, as demonstrated by the following figures:

**Vaccines**(million doses) ⌘ [Read more](https://businessdesk.co.nz/article/coronavirus/pfizer-a-huge-covid-19-winner)
2021-09-08T17:00:11Z	**9/11 in the age of social media - imagine it**
Most of us will take a few moments in the next couple of days to reflect on where we were when al Qaida terrorists launched their attack on New York City on September 11, 2001.

I remember sitting in a car outside my apartment in Newmarket, chatting with the journalist Jon Stephenson, a friend and former classmate from our days at AUT journalism school. We were both night owls, so finished up our conversation close to 1 am, by which  ... ⌘ [Read more](https://businessdesk.co.nz/article/opinion/911-in-the-age-of-social-media-imagine-it)
2021-09-08T17:00:00Z	**Builders' struggle to source labour, secure supplies pushing up costs**
Registered Master Builders chief executive David Kelly believes the building industry is now at a "multi-decade" peak on the back of record housing demand.

That’s rewarded vertical building contractors and higher-end architectural building firms with bulging forward books and a pipeline of work that in some cases stretches out more than three years. ⌘ [Read more](https://businessdesk.co.nz/article/property/builders-struggle-to-source-labour-secure-supplies-pushing-up-costs)
2021-09-08T20:00:00Z	**Wake up call: Dawn of the end of delta?**
**Summary** Kiwis still stranded in Australia should book MIQ spots if they want to come home, with no change to border arrangements likely in the near future. August’s difficult month for the electricity sector has heightened the risk of regulatory intervention.

**Bubble popped** Covid-19 minister Chris Hipkins [has warned Kiwis waiting in Australia](https://www.stuff.co.nz/travel/news/300402635/transtasman-bubble-no-hope-of-opening-soon- ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/wake-up-call-dawn-of-the-end-of-delta)
2021-09-08T21:31:40Z	**Rocket Lab posts US$32.5m net loss despite revenue increase**
Rocket Lab's first result after listing on the Nadaq showed a hefty loss despite a massive jump in revenue.

The New Zealand founded, US-based space company said the net loss for the six months ended June 30 was US$32.5 million despite a 237% increase in revenue versus the same period a year earlier. ⌘ [Read more](https://businessdesk.co.nz/article/technology/rocket-lab-posts-us325m-net-loss-despite-revenue-increase)
2021-09-08T23:30:00Z	**'Creepy' retirement village framework should be changed**
Retirement commissioner Jane Wrightson says the legal framework governing retirement villages needs to be changed.

"I know a creepy framework when I see one and one that favours business interests over consumer protection. We need to look at the balance," Wrightson told parliament's economic development, science and innovation committee. ⌘ [Read more](https://businessdesk.co.nz/article/property/creepy-retirement-village-framework-should-be-changed)
2021-09-09T02:30:00Z	**Electricity emissions rise to highest level since 2008**
Greenhouse gas emissions from the electricity sector rose to their highest level since 2008 in the latest June 2021 quarter.

The latest Energy Quarterly released by the Ministry of Business, Innovation and Employment (MBIE) showed low hydro lake storage levels combined with a tight gas supply led to a big jump in the use of coal to generate electricity in the second quarter of 2021 compared to a year earlier. ⌘ [Read more](https://businessdesk.co.nz/article/energy/electricity-emissions-rise-to-highest-level-since-2008)
2021-09-09T03:36:49Z	**Retail heavyweight Mary Devine joins Foodstuffs South Island**
Former Hallenstein Glasson managing director Mary Devine has been appointed chief executive officer of Foodstuffs South Island.

Devine, who was formerly chief executive of Ezibuy and managing director of Ballantynes, will join the business on Nov 8, the supermarket cooperative said in a statement. ⌘ [Read more](https://businessdesk.co.nz/article/retail/retail-heavyweight-mary-devine-joins-foodstuffs-south-island)
2021-09-09T06:05:02Z	**Profit taking pulls NZ shares down**
New Zealand shares continue to take a cue from offshore markets and consolidate after a strong month through earnings season.

The S&P/NZX 50 Index fell 106 points, or 0.8%, to 13,095.77. Turnover was $199 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/profit-taking-pulls-nz-shares-down)
2021-09-09T17:00:15Z	**Business in the time of delta**
Rodd & Gunn chief executive Mike Beagley is circumspect about the impacts of covid lockdowns. ⌘ [Read more](https://businessdesk.co.nz/article/coronavirus/business-in-the-time-of-delta)
2021-09-09T17:00:00Z	**Peter Thiel needs his luxury lodge to win us over**
Tech billionaire [Peter Thiel](https://businessdesk.co.nz/article/peter-griffin-citizen-thiel-set-to-cash-in-big-and-keep-control-of-palantir) must be wondering if New Zealand is still the utopia he fell in love with on his first trip back in the ‘90s.

Since he burst into public consciousness in the early 2010s, investing in the likes of successful homegrown startups [Xero](https://businessdesk.co.nz/article/correctio ... ⌘ [Read more](https://businessdesk.co.nz/article/opinion/peter-thiel-needs-his-luxury-lodge-to-win-us-over)
2021-09-09T17:00:00Z	**CFFC's research shows satisfaction with retirement village legal advice**
Claims by retirement commissioner Jane Wrightson that retirement village residents aren't getting good legal advice when they buy an occupation right agreement (ORA) are contradicted by the commission's own research.

That's according to Retirement Villages Association executive director John Collyns – his organisation represents retirement village owners and developers. ⌘ [Read more](https://businessdesk.co.nz/article/property/cffcs-research-shows-satisfaction-with-retirement-village-legal-advice)
2021-09-09T20:15:00Z	**Wake Up Call: Building a case for high density**
**Summary** A bill that will help New Zealand’s housing affordability issues, by reforming regulations for apartments, townhouses and other types of high-density property, reaches another milestone with a select committee report due today. Legal action appears to have secured a coveted spot in MIQ for a pregnant New Zealander with health complications.

**Level 1** Experts remain divided over whether the rest of NZ will move  ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/wake-up-call-building-a-case-for-high-density)
2021-09-09T21:42:11Z	**Rabobank lowers forecast NZ milk price, while BNZ lifts it**
Rabobank lowered its New Zealand farmgate milk price for the current season, arguing that lower demand from China is likely to weigh on global dairy prices. BNZ Bank, however, had a different take.

Rabobank is now expecting farmers to receive $7.80 per kilogram of milk solids, 20 cents lower than its prior forecast. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/rabobank-lowers-forecast-nz-milk-price-while-bnz-lifts-it)
2021-09-09T22:40:00Z	**Have ANZ's cyber-attackers demanded a ransom?**
ANZ may be refusing to pay a ransom as a cyber-attack causes online banking outages for a third day in a row.

A DDoS (distributed denial of service) cyber-attack was confirmed on Wednesday by the government’s cybersecurity agency, Cert NZ, when the websites and services of ANZ, Kiwibank, NZ Post, MetService and others were affected. ⌘ [Read more](https://businessdesk.co.nz/article/technology/have-anzs-cyber-attackers-demanded-a-ransom)
2021-09-09T23:00:04Z	**One-way bubble for seasonal workers from Samoa, Tonga and Vanuatu**
One-way quarantine-free travel for recognised seasonal employer workers (RSE) from Samoa, Tonga and Vanuatu kicks off in October.

Several incoming flights were deferred in August and September because of New Zealand’s alert level 4 settings. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/one-way-bubble-for-seasonal-workers-from-samoa-tonga-and-vanuatu)
2021-09-10T00:00:00Z	**Battle of the platforms: who will win the retail trading war?**
The pandemic bringing hundreds of thousands of unengaged New Zealanders onto the stock market via retail trading platforms was one of 2020’s biggest surprises.

But now a large and potentially profitable market has been discovered, the race is on to hoover up market share and become the dominant trading platform. ⌘ [Read more](https://businessdesk.co.nz/article/markets/battle-of-the-platforms-who-will-win-the-retail-trading-war)
2021-09-10T01:00:00Z	**Confusion and miscalculation helped cause power cuts**
Confusion, miscommunication and electricity demand reduction notices which bore little resemblance to reality were all factors in the blackouts on August 9, the Electricity Authority (EA) has found.

The regulator’s initial review of what led to the first electricity blackouts in decades due to demand exceeding supply focussed on Transpower’s role as the system operator. The pressure on the system was exacerbate ... ⌘ [Read more](https://businessdesk.co.nz/article/energy/confusion-and-miscalculation-helped-cause-power-cuts)
2021-09-10T02:00:00Z	**ComCom, cartels and a $100,000 phone call**
What began with a single, seemingly harmless phone call between two Christchurch companies in 2018, ended last week with a $99,000 fine and a stern warning by the Commerce Commission about the consequences of price-fixing – even if it doesn’t actually happen.

In January 2018, the director of Specialised Container Services Limited (SCS Christchurch), Grant Tregurtha, called the general manager of Lyttelton Port Company and asked ... ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/comcom-cartels-and-a-100000-phone-call)
2021-09-10T02:55:11Z	**Govt offers extra relief for business overheads**
The government will let businesses apply for further resurgence payments as the lingering Auckland lockdown keeps firms across the country under pressure.

Finance minister Grant Robertson and revenue minister David Parker announced the extension to the scheme, which was initially a one-off payment for businesses to help take the edge off returns to higher covid-19 alert levels. ⌘ [Read more](https://businessdesk.co.nz/article/economy/govt-offers-extra-relief-for-business-overheads)
2021-09-10T06:00:36Z	**Shares down & dollar up as market predicts rate hike**
New Zealand benchmark equity index declined 1.5% this week after its third consecutive fall today, while the kiwi dollar rallied on a possible cash rate hike next month.

The S&P/NZX 50 Index fell 31 points, or 0.3%, to 13,064.39. Turnover was $165 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/shares-down-dollar-up-as-market-predicts-rate-hike)
2021-09-10T17:00:00Z	**Review: The Google Nest Hub watched me sleep for five months**
Since the end of April, I’ve had a Google Nest Hub smart display sitting on my bedside table.

It’s Google’s latest mains-powered screen that acts as an alarm clock, photo frame, and voice assistant, and it links up to my Google account to display information from my calendar. ⌘ [Read more](https://businessdesk.co.nz/article/technology/review-the-google-nest-hub-watched-me-sleep-for-five-months)
2021-09-10T17:00:00Z	**Allbirds – should you invest?**
Allbirds’ IPO has created considerable interest as the footwear and apparel company will follow Rocket Lab and list on Wall Street’s Nasdaq exchange.

Peter Beck’s space launch company has whetted the domestic appetite for Nasdaq listings, with Rocket Lab’s share price closing at US$20.72 on Thursday, New York time, compared with its US$10 a share issue price. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/allbirds-should-you-invest)
2021-09-10T17:00:00Z	**On the Money: Ryman's new boss, Chris Meehan, Peter Beck, and more**
Welcome to On the Money, our weekly column on money and the people making it.

**Peter Beck’s huge week** ⌘ [Read more](https://businessdesk.co.nz/article/on-the-money/on-the-money-rymans-new-boss-chris-meehan-peter-beck-and-more)
2021-09-11T17:00:00Z	**Review: Ford Escape ST-Line X PHEV FWD – a noble charger for the discerning buyer**
I’m a big fan of plug-in hybrid electric vehicles (PHEVs), and they’re getting better and better. The newest on the market is the Ford Escape — a near-faultless car that suffers only due to the fact its lack of flaws makes it boring to write about.

Over the course of a week, prior to lockdown when I drove it several hundred kilometres, it averaged jus ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/review-ford-escape-st-line-x-phev-fwd-a-noble-charger-for-the-discerning-buyer)
2021-09-11T17:00:00Z	**Flower power – the best fashion trend for spring**
Park your inner wallflower because this season’s take on spring florals favours the brave. It’s all about the bold and graphic here, so eschew anything delicate, painterly and water coloured.

Choose prints that deliver a punch: the more colour saturation, the better. Think psychedelic 70s blooms or highly saturated gardens full of wild flowers. ⌘ [Read more](https://businessdesk.co.nz/article/the-life/flower-power-the-best-fashion-trend-for-spring)
2021-09-11T17:00:00Z	**Smart money – why investors are paying attention to women artists**
It’s no surprise that the art market has always been dominated by male artists. Not until the 20th century did art become a viable career option for women, and the prices asked for their work has never reached the dizzying heights their male counterparts can command.

In 2014, a painting titled Jimson Weed/White Flower No. 1 (1932) by American artist Georgia O’Keeffe set the record f ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/smart-money-why-investors-are-paying-attention-to-women-artists)
2021-09-11T17:00:00Z	**My Net Worth: Cecilia Robinson, co-founder and co-CEO, Tend Health**
Welcome to My Net Worth, our regular column on the lives and motivations of our country’s top business, legal and political people, in their own words.

Swedish-born entrepreneur Cecilia Robinson first ventured Down Under in 2005 to visit her brother, and on her first night in New Zealand she met his workmate James, who later became her husband. In 2010, on a visit back to her homeland,  ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/my-net-worth-cecilia-robinson-co-founder-and-co-ceo-tend-health)
2021-09-11T17:00:00Z	**Challenging times – businesses are coming under pressure from a new era of activism**
Activism targeting businesses is said to be on the rise, with no shortage of recent examples. To name a few pressure groups:

• Tree protection group [Mana Rākau](https://saveourtrees.nz/mana-rakau/) and developers [Ockham Residential](https://www.ockham.co.nz/) tried but failed to agree on the fate of a large macrocarpa at least 120 years old in Avo ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/challenging-times-businesses-are-coming-under-pressure-from-a-new-era-of-activism)
2021-09-12T17:00:42Z	**Businesses roll out worker mass vaccinations**
Red Stag Timber has scheduled vaccinations for more than 400 staff and contractors at its Rotorua sawmill at the end of this month, to help reduce the risk of losing almost a third of the country’s structural timber production.

Chief executive Marty Verry told BusinessDesk the vaccinations had been confirmed for three days from Sept 30 at its sawmill and its recently opened $50 million cross-laminated timber plant. ⌘ [Read more](https://businessdesk.co.nz/article/coronavirus/businesses-roll-out-worker-mass-vaccinations)
2021-09-12T17:00:00Z	**Infratil's foray into Asia builds on nearly 30 years' experience**
While Infratil has invested around the world almost since inception in 1994, it has never invested in Asia until now.

Chief executive Jason Boyes told analysts that Infratil's plan to invest US$233 million in Singapore-based Gurin Energy would have been "a dream come true" for founder Lloyd Morrison, who had gotten as far as opening an office in Hong Kong before he died in February 201 ... ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/infratils-foray-into-asia-builds-on-nearly-30-years-experience)
2021-09-12T18:00:00Z	**Teachers rate new commerce curriculum a fail**
Only 7% of secondary teachers believe the new NCEA commerce curriculum is on the right track, according to a Ministry of Education report obtained under the Official Information Act.

The April report by the ministry summarised feedback on the first draft of a controversial new curriculum that sees accounting, economics and business studies merged into a single subject for NCEA level one. ⌘ [Read more](https://businessdesk.co.nz/article/policy/teachers-rate-new-commerce-curriculum-a-fail)
2021-09-12T20:00:00Z	**Wake Up Call: Pasta shortage warning**
**Summary** Auckland is unlikely to move out of full lockdown, with observers pointing to mystery cases with no known source as likely to encourage a decision to continue at level four. Rising prices for durum wheat could see shortages of pasta, couscous and pizza crust using the favoured flour.

**Lockdown continuation** Auckland is likely to remain in full lockdown as Cabinet meets today to consider the city’s restrictions. Mystery cases of pe ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/wake-up-call-pasta-shortage-warning)
2021-09-12T20:30:00Z	**Carbon farmers say money is growing on trees**
Carbon farmers are seeking an initial $15.2 million to buy up to 1,500 hectares of land to plant in pine trees.

The CQuest Forestation and Carbon Investment Fund says it will allow wholesale investors to farm carbon credits as the cost of carbon rises. ⌘ [Read more](https://businessdesk.co.nz/article/markets/carbon-farmers-say-money-is-growing-on-trees)
2021-09-12T23:15:00Z	**Trading firm wanted 'bendier' compliance officer**
Directors of a derivative trading platform blocked its compliance staff from carrying out anti-money laundering checks on “objectively suspicious” high-net worth clients, a high court judgement has revealed.

An Auckland high court judge has ordered derivative trading provider CLSA Premium NZ to pay a $770,000penalty for breaching anti-money laundering laws. ⌘ [Read more](https://businessdesk.co.nz/article/markets/trading-firm-wanted-bendier-compliance-officer)
2021-09-13T00:00:00Z	**The exit interview: Clemenger CEO Robert Morgan**
In the famously cutthroat media world, chief executives aren’t known for having a long shelf life.

Robert Morgan, the CEO of advertising and communications giant Clemenger Group for the past 23 years, is an exception to that rule. ⌘ [Read more](https://businessdesk.co.nz/article/media/the-exit-interview-clemenger-ceo-robert-morgan)
2021-09-13T00:25:00Z	**Gibraltar regulator to be new FMA boss**
The Financial Markets Authority has appointed Samantha Barrass, a regulation executive in Britain, to take over from Rob Everett as chief executive.

Barrass studied economics at Canterbury and Victoria universities, then worked at the Reserve Bank of New Zealand before attending the London School of Economics. ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/gibraltar-regulator-to-be-new-fma-boss)
2021-09-13T02:50:00Z	**Stride rolls out red carpet for $250m Fabric IPO**
Stride Property is carving out 10 office buildings into a new standalone entity that will list on the NZX next month, raising at least $250 million in just the third initial public offering (IPO) this year.

The property investor and asset manager will spin out its Fabric subsidiary as a standalone entity on Oct 4, distributing one for four shares to existing Stride investors, and at the same time, sell between 192 million ... ⌘ [Read more](https://businessdesk.co.nz/article/property/stride-rolls-out-red-carpet-for-250m-fabric-ipo)
2021-09-13T06:10:18Z	**NZ shares up despite lockdown extension**
New Zealand shares started the week on a positive note with most stocks making gains, including those affected by the extended Auckland lockdown.

The S&P/NZX 50 Index rose 106.5 points, or 0.8%, to 13,170.89. Turnover was $258 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/nz-shares-up-despite-lockdown-extension)
2021-09-13T17:00:39Z	**GDP data likely strong but lockdown rollercoaster to come**
Data this week will show the economy was on a tear ahead of the latest lockdown, but economists are expecting it to fall off a cliff in the third quarter before picking up steam toward the end of the year.

Statistics New Zealand is due to release GDP data for the 2020 second quarter on Thursday. ⌘ [Read more](https://businessdesk.co.nz/article/economy/gdp-data-likely-strong-but-lockdown-rollercoaster-to-come)
2021-09-13T18:00:00Z	**How has New Zealand performed on vaccines**
Late last year commentators generally recognised the public were appreciative of the effectiveness (despite some blips) of the government’s elimination of covid-19 community transmission strategy.

New Zealand was one of a very small number of countries to have single-digit numbers for deaths per million people. ⌘ [Read more](https://businessdesk.co.nz/article/health/how-has-new-zealand-performed-on-vaccines)
2021-09-13T18:00:49Z	**Woods grabs new powers in electricity sector**
Law changes to give consumers a greater say in electricity and ministerial powers to rewrite regulations if unhappy with them have been introduced into Parliament.

The Electricity Industry Amendment Bill flows from the government’s electricity price review (EPR) in 2018/19 and like some policy processes in the sector has fallen behind schedule, partly due to covid. ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/woods-grabs-new-powers-in-electricity-sector)
2021-09-13T18:00:23Z	**Corporates opt for private covid saliva tests**
Genesis Energy says its use of saliva testing for the delta variant of covid-19 points the way towards keeping the pandemic at bay in essential services.

Nigel Clark, chief operations officer at the electricity generator and retailer, said saliva-based covid testing should be seen as a cost-effective part of the country’s health response armoury. ⌘ [Read more](https://businessdesk.co.nz/article/coronavirus/corporates-opt-for-private-covid-saliva-tests)
2021-09-13T20:00:00Z	**Wake Up Call: Struggling towards level 3**
**Summary** Auckland begins testing people without symptoms in seven suburbs as it struggles towards level three next week. Electricity is in the spotlight today, with new legislation introduced and a consultation phase closing.

**Testing focus** As Auckland progresses towards an in-principle move to level three lockdown next Tuesday, officials have asked people in seven suburbs – Mt Eden, Massey, Māngere, Favona, Ōtara, Papatoetoe an ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/wake-up-call-struggling-towards-level-3)
2021-09-13T21:15:00Z	**What lockdown? House price index surges 31.1%**
Last month’s covid lockdowns cut the number of monthly house sales by more than a quarter compared to last August, but did little to dampen prices, which shot up by almost a third.

Real Estate Institute of New Zealand data for the month showed the number of residential property sales declined by 26.5% across the country in August, from 7,828 to 5,753, but the house price index climbed 31.1% for the month. ⌘ [Read more](https://businessdesk.co.nz/article/property/what-lockdown-house-price-index-surges-311)
2021-09-13T22:30:26Z	**BNZ hacks KiwiSaver fees**
Bank of New Zealand is the [latest KiwiSaver manager to cut fees](https://businessdesk.co.nz/article/regulators-succeed-in-suppressing-kiwisaver-fees) after having to stump up a lower cost fund to protect its status as a default provider.

The fund manager today announced it would drop the fee on all its KiwiSaver and YouWealth funds to 0.45% at the end of the month. ⌘ [Read more](https://businessdesk.co.nz/article/kiwisaver/bnz-hacks-kiwisaver-fees)
2021-09-13T23:26:02Z	**Partner Content: 3 ways to make working remotely work for your team**
Since the pandemic hit and the world went into lockdown, many of us have brought our workplaces home. While most workers enjoyed the flexibility, enabling modern ways of working was difficult for many organisations to manage.

Challenges with tech, inaccessibility and IT burnout left less time for fundamental productivity. However, according to a [2020 Otago University survey](http ... ⌘ [Read more](https://businessdesk.co.nz/article/technology/partner-content-3-ways-to-make-working-remotely-work-for-your-team-1)
2021-09-14T00:00:00Z	**Inside the head of a ransomware attacker**
Ransomware attacker Aleks likes to think of himself as a Robin Hood of the modern age, taking cash from faceless corporations to help feed his family.

Aleks, a hacker from Russia, uses malicious software provided by other cyber criminals in a ransomware-as-a-service model. He picks the product he wants, factoring in price, features and whether that particular ransomware is high-profile and might make it harder for him to fly under the ... ⌘ [Read more](https://businessdesk.co.nz/article/technology/inside-the-head-of-a-ransomware-attacker)
2021-09-14T00:30:00Z	**Hefty pay rises accompany bigger profits at Briscoe**
Retailer Briscoe Group hiked its wages and will pay a bigger dividend after fattening its first-half profit.

The operator of the Briscoes and Rebel Sports chains has lifted its hourly wage 6.4% since May, outpacing the 4% annual pace of wage growth in the June quarter, as it fights to attract and retain staff. ⌘ [Read more](https://businessdesk.co.nz/article/retail/hefty-pay-rises-accompany-bigger-profits-at-briscoe)
2021-09-14T01:00:00Z	**Olam's new Tokoroa dairy plant**
Olam Food Ingredients is kicking off plans to build its dairy processing facility in Tokoroa and operations director Paul Rennie says talks are already underway with farmers to hammer out supply agreements.

“It’s a great site. It’s an 11-hectare site, which is zoned appropriately, and a lot of the consents are in place. So, it’s really tailor-made for this initial investment and then there’s room for future projects and expansion of the site ... ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/olams-new-tokoroa-dairy-plant)
2021-09-14T01:00:00Z	**Free advice for the Wanaka ‘wanderers’**
Most journalists who go into public relations never look back.

For reasons not worth going into, I did. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/free-advice-for-the-wanaka-wanderers)
2021-09-14T02:30:48Z	**Seeka looks to acquire Northland's Orangewood**
Seeka is looking to snap up Northland kiwifruit business Orangewood in a transaction that values the target company at $6.55 million.

The NZX-listed company has offered 0.6630 new Seeka shares and $1.35 in cash for every Orangewood share. The issue price for each new Seeka share is $5.33. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/seeka-looks-to-acquire-northlands-orangewood)
2021-09-14T03:00:07Z	**Real estate crowdfunding proves a steep hill to climb**
Fifty-nine investors in Auckland and Wellington are now the proud part owners of a block of land they will probably never set foot on.

That’s because the site in question, described as a “good northend location just a short walk from schools and amenities,” is in Oamaru, North Otago. ⌘ [Read more](https://businessdesk.co.nz/article/property/real-estate-crowdfunding-proves-a-steep-hill-to-climb)
2021-09-14T03:30:00Z	**Fabric: a cheaper & smaller Precinct**
Stride Property’s spin-off Fabric will create a second office property company on the NZX, offering an alternative to its bigger rival Precinct Properties.

This week, Stride Property announced plans to demerge its office assets into a separate entity called Fabric. This will list on the stock exchange on October 6. ⌘ [Read more](https://businessdesk.co.nz/article/markets/fabric-a-cheaper-smaller-precinct)
2021-09-14T04:00:00Z	**Foodstuffs is willing to change – but not its profit**
Foodstuffs North Island is “accepting the challenge” to do better for New Zealand consumers, while disputing some of the key findings of the [Commerce Commission’s draft report](https://comcom.govt.nz/__data/assets/pdf_file/0024/260376/Market-study-into-the-retail-grocery-sector-Draft-report-Executive-summary-29-July-2021.pdf) on its market study on the retail grocery sector.

The commission published the dra ... ⌘ [Read more](https://businessdesk.co.nz/article/retail/foodstuffs-is-willing-to-change-but-not-its-profit)
2021-09-14T06:00:51Z	**F&P Healthcare drags NZX50 down**
New Zealand shares were mixed but the benchmark index closed down half a percent as its biggest stock Fisher & Paykel Healthcare continued to slide.

The S&P/NZX 50 Index rose 69.8 points, or 0.5%, to 13,108.61. Turnover was $169 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/fp-healthcare-drags-nzx50-down)
2021-09-14T17:00:01Z	**Level up: state of the KiwiSaver providers at 14**
In some ways nothing much changed for KiwiSaver during the 12 months to March 31: banks still ruled; funds still flowed; fees still rose.

As detailed in this [free independent report](http://investmentnews.co.nz/wp-content/uploads/KS14rep.pdf), however, the latest year in KiwiSaver was different enough, featuring – among other quirks – outlandish returns, a dash of cryptocurrency and extreme regulatory intervention. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/level-up-state-of-the-kiwisaver-providers-at-14)
2021-09-14T17:00:00Z	**Are Dan Carter’s NFTs greener than everyone else’s?**
A new NFT company co-founded by Dan Carter says it is more sustainably minded than other digital art marketplaces.

The All Blacks legend has an 11% stake in Glorious Digital, a New Zealand business set to launch an app in October selling digital art as non-fungible tokens (NFTs). ⌘ [Read more](https://businessdesk.co.nz/article/technology/are-dan-carters-nfts-greener-than-everyone-elses)
2021-09-14T18:00:51Z	**NZ house prices accelerate at second fastest rate in world**
New Zealand’s house price inflation continues to outstrip most of the developed world’s post-pandemic increases.

For the 12 months to June, NZ house prices jumped by an average annual 25.9% year-on-year. This is second only to Turkey which had a 29.2% increase for the same period, according to the latest Knight Frank global house price index. ⌘ [Read more](https://businessdesk.co.nz/article/property/nz-house-prices-accelerate-at-second-fastest-rate-in-world)
2021-09-14T20:01:03Z	**Wake Up Call: Auckland businesses at 'breaking point'**
**Summary** As Auckland’s lockdown drifts through its fifth week, small businesses are at breaking point. New Zealand is likely to have followed the same cyber crime trends seen in Australia, where cyber crime has jumped by 13%.

**Breaking point** Small businesses in Auckland are at breaking point both financially and, in the case of owners, emotionally. Hospitality New Zealand's Auckland branch president Jamie F ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/wake-up-call-auckland-businesses-at-breaking-point)
2021-09-14T21:00:00Z	**Govt's walls of wood order points to future**
Kāinga Ora's recent $95 million tender for a housing development in Avondale offers a glimpse of how medium build residential developments will look in the drive to cut carbon emissions.

The tender specifies the use of composite, light timber frame construction and use of cross laminated timber (CLT), something of a precursor to the government's upcoming response to Climate Change Commission's first tranche of recommendation ... ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/govts-walls-of-wood-order-points-to-future)
2021-09-14T22:00:00Z	**Why cyber-criminals are still attacking NZ websites**
The cyber-attack that appears to be behind the continued service disruption of Kiwibank’s online banking services is boosting the reputation of the attackers, even if they are demanding a ransom that hasn’t been paid.

On Wednesday Sep 8, government cybersecurity agency Cert NZ [confirmed](https://twitter.com/CERTNZ/status/1435386080975474689) a distributed denial of service (DDoS) attack was targeting banks a ... ⌘ [Read more](https://businessdesk.co.nz/article/technology/why-cyber-criminals-are-still-attacking-nz-websites)
2021-09-14T23:40:00Z	**Property fund buys childcare centre for $4.2m**
Specialist early childhood education property fund NZ Daycare Properties Fund has paid $4.2 million for its first property in Hamilton.

The newly constructed 639 square metre centre, on 1,717 sqm of land at 24 Brent Greig Lane in the suburb of Burbush, is tenanted by daycare operator Rainbow Corner. ⌘ [Read more](https://businessdesk.co.nz/article/news-in-brief/property-fund-buys-childcare-centre-for-42m)
2021-09-14T23:30:00Z	**RBNZ slapped with compliance notice over cyber-attack**
The Reserve Bank of New Zealand (RBNZ) has today received a compliance notice from the privacy commissioner concerning the cyber-attack the bank suffered in December 2020.

The notice, the first to be issued under new powers given in the [Privacy Act 2020](https://businessdesk.co.nz/article/technology/what-every-organisation-needs-to-know-about-the-new-privacy-act), gives the bank a reporting template desig ... ⌘ [Read more](https://businessdesk.co.nz/article/news-in-brief/rbnz-slapped-with-compliance-notice-over-cyber-attack)
2021-09-15T00:30:00Z	**Minor updates won’t slow the iPhone 13 juggernaut**
Apple’s new iPhone 13 range has been unveiled with few remarkable year-over-year upgrades from the iPhone 12 series, though larger batteries and lower prices stand out.

The tech giant is releasing four phones, with an iPhone 13 mini and iPhone 13 offering two cameras and a new pink colour option, while the iPhone 13 Pro and iPhone 13 Pro Max pack in three cameras with more zoom power than before. ⌘ [Read more](https://businessdesk.co.nz/article/technology/minor-updates-wont-slow-the-iphone-13-juggernaut)
2021-09-15T02:00:00Z	**Solar farm project pieces come together**
Plans to build New Zealand’s [first major commercial solar farms](https://businessdesk.co.nz/article/nzs-largest-solar-farm-gets-consent) are falling into place with Lodestone Energy looking to break ground in December and be generating power by mid-2022.

Lodestone Energy has now agreed conditional terms for a $150 million debt facility with Westpac, which makes up half of its required funding to build five solar farms in the Far North, C ... ⌘ [Read more](https://businessdesk.co.nz/article/energy/solar-farm-project-pieces-come-together)
2021-09-15T02:40:00Z	**MIQ ‘pause’ to end, new booking system launching**
New Zealanders prevented from seeking managed isolation and quarantine spots during the recent freeze on new allocations will be able to start applying again from next Monday.

Some 3,000 MIQ spots will be offered at 9am NZT on Monday, Sept 20, with another 4,000 rooms to be offered fortnightly, covid-19 response minister Chris Hipkins announced. ⌘ [Read more](https://businessdesk.co.nz/article/coronavirus/miq-pause-to-end-new-booking-system-launching)
2021-09-15T04:30:00Z	**Henry debts now at $1.57m and counting**
The liquidator's initial report into David Henry’s failed Kinleith Land and Infrastructure business suggests creditors are owed at least $1.57 million.

Liquidators Jared Booth and Tony Maginness of Baker Tilly Staples list total liabilities of $1.55m, including claimed shareholder loans of $425,000. Court costs amount to a further $18,032. ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/henry-debts-now-at-157m-and-counting)
2021-09-15T05:35:55Z	**Climate change plan delayed until next May**
The government is not going to meet the statutory deadline to finance an emissions reduction plan by the end of the year and will have to change the law to finish the work by May next year.

Under the statute, the government was required to table its response to the Climate Change Commission’s recommended carbon budgets and policies to meet them by December. ⌘ [Read more](https://businessdesk.co.nz/article/climate-change/climate-change-plan-delayed-until-next-may)
2021-09-15T06:00:00Z	**NZ shares slightly lower with US inflation data**
New Zealand shares were mixed, with the benchmark equity index closing mildly lower in tandem with offshore markets.

[market-nzx] ⌘ [Read more](https://businessdesk.co.nz/article/markets/nz-shares-slightly-lower-with-us-inflation-data)
2021-09-15T17:00:00Z	**Fonterra still falling short on diversity**
Fonterra is looking to lifts its diversity stats but says it’s not an easy task.

Data from the dairy cooperative show it currently has 32.4% female and 9% ethnic representation in senior leadership. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/fonterra-still-falling-short-on-diversity)
2021-09-15T17:00:00Z	**Smart contracts awaiting their ‘wi-fi moment’**
On Monday, I watched a Zoom conference call where all the attention was on a man sitting in his Colorado home office dressed in a Ghost Busters costume.

Charles Hoskinson, the founder of blockchain platform Cardano, was in an ebullient mood. After four years of highly technical work, his team had just successfully completed the ‘Alonzo’ hard fork upgrade to Cardano, giving it the ability to offer smart contracts. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/smart-contracts-awaiting-their-wi-fi-moment)
2021-09-15T18:00:00Z	**Cork in the box seat for America’s Cup 2024?**
The Irish port city of Cork is emerging as the frontrunner to host the 2024 America’s Cup, but the late bid to keep it in Auckland looks likely to live beyond this Friday’s ‘deadline’ for venue decisions.

Emirates Team New Zealand, which claims the right to decide the venue for a trophy officially held by Auckland’s Royal New Zealand Yacht Squadron (RNZYS), has been portraying this Friday, Sept 17, as a hard deadline for  ... ⌘ [Read more](https://businessdesk.co.nz/article/boats/cork-in-the-box-seat-for-americas-cup-2024)
2021-09-15T19:00:00Z	**UBCO raising $40m on path to Nasdaq**
Electric [motorbike builder UBCO](https://businessdesk.co.nz/article/ubco-the-netflix-of-electric-motorbikes) has told shareholders it plans to raise $40 million in a funding round that would value the company at $140m and open a path to a Nasdaq listing.

In a letter to shareholders, chair Katherine Sandford said TPK Holdings – a touch display company that invested in the previous round – was offering to purchase a further 5% of UBCO ahead of t ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/ubco-raising-40m-on-path-to-nasdaq)
2021-09-15T20:00:00Z	**Wake Up Call: Is time up for Judith Collins?**
**Summary** The battle to vaccinate Aucklanders intensifies today as six vans roll out across low vaccination areas to provide free jabs. Cork is the front runner as the venue for the next America’s Cup.

**Vaxi taxis** Mr Whippy style vans hit Auckland’s street today, bringing vaccines instead of icecreams. The initial six vans will rise to 12 in coming weeks, and will target areas that have low vaccination rates and where peop ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/wake-up-call-is-time-up-for-judith-collins)
2021-09-15T20:00:00Z	**Air NZ and Airbus team up on zero-emissions aircraft**
Air New Zealand and aircraft manufacturer Airbus have teamed up to look at how hydrogen-powered aircraft could be part of its fleet by 2030.

The two organisations have signed a memorandum of understanding to cooperate on a joint research project to better understand the opportunities and challenges of flying zero-emission hydrogen aircraft in NZ. ⌘ [Read more](https://businessdesk.co.nz/article/listed-companies/air-nz-and-airbus-team-up-on-zero-emissions-aircraft)
2021-09-15T20:40:00Z	**Sky gets new CFO**
Vodafone head of finance Tom Gordon is heading to listed entertainment company Sky.

In a statement to the NZX Sky chief executive Sophie Moloney said Gordon had extensive strategic and operational finance experience, as well as a strong knowledge of the telecommunications and media sectors. ⌘ [Read more](https://businessdesk.co.nz/article/markets/sky-gets-new-cfo)
2021-09-15T21:15:00Z	**Rich lister offers to fund new mental health unit**
A Wellington philanthropist and property investor has made a donation offer to replace one of the country’s worst mental health units.

Mark Dunajtschik is already well-known for his generosity in the capital, having contributed $50 million for a new children’s hospital. ⌘ [Read more](https://businessdesk.co.nz/article/health/rich-lister-offers-to-fund-new-mental-health-unit)
2021-09-15T23:10:00Z	**June GDP storms higher but coming quarter will be bleak**
New Zealand’s economy expanded a hefty 2.8% in the second quarter, once again blowing forecasts out of the water.

[Bank economists](https://businessdesk.co.nz/article/rise-and-fall-what-will-gdp-data-show) had tipped growth of between 1.1% and 1.7%. ⌘ [Read more](https://businessdesk.co.nz/article/economy/june-gdp-storms-higher-but-coming-quarter-will-be-bleak)
2021-09-16T17:00:56Z	**Bridgecorp’s death knell a timely warning**
If you weren’t reading the corporate obituaries last week you might have missed that Bridgecorp, the poster child for the hubris of the early 2000s financiers, was finally struck off the companies register.

Bridgecorp was one of the country’s biggest finance companies when it went belly up in 2007, owing almost 14,400 investors about $459 million. It also had a book value on its loans and property assets of $595.3m, something of a ... ⌘ [Read more](https://businessdesk.co.nz/article/opinion/bridgecorps-death-knell-a-timely-warning)
2021-09-16T17:00:53Z	**Time to call in a delta 'Red Team' - Gluckman**
Elimination is no longer an option unless NZ wants to live with current barriers indefinitely, a former chief science advisor to the prime minister Peter Gluckman says.

He wants to see the formation of a ‘red team’, an apolitical group tasked with helping the government steer the country back out of covid. ⌘ [Read more](https://businessdesk.co.nz/article/coronavirus/time-to-call-in-a-delta-red-team-gluckman)
2021-09-16T17:00:34Z	**How to tax crypto: treat it like cash?**
The government is edging into the largely uncharted territory of the tax treatment of cryptocurrencies with a move to define their place in GST regulations, but officials say wider work on tax implications is ongoing.

The Taxation (Annual Rates for 2021-22, GST, and Remedial Matters) Bill recently tabled in Parliament proposes taking a neutral position on crypto in relation to GST to allow innovation. However, papers released with the legislat ... ⌘ [Read more](https://businessdesk.co.nz/article/economy/how-to-tax-crypto-treat-it-like-cash)
2021-09-16T06:10:45Z	**NZ shares down on ‘staggering’ GDP number**
New Zealand shares fell and bond yields were up, as investors reacted to GDP data which showed the economy grew 2.8% in the second quarter of the year.

The S&P/NZX 50 Index dropped 52.98 points, or 0.4%, to 13,079.51. Turnover was $158 million. ⌘ [Read more](https://businessdesk.co.nz/article/news-in-brief/nz-shares-down-on-staggering-gdp-number)
2021-09-16T03:45:00Z	**Ikea's Ingka Group moves into NZ forestry**
Ingka Group has acquired 5,500 hectares of land in New Zealand’s South Island, as part of its long-term commitment to responsible forest management.

The purchase agreement became unconditional when it received approval from the Overseas Investment Office at the end of August. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/ikeas-ingka-group-moves-into-nz-forestry)
2021-09-16T02:30:00Z	**Miraka partners with Pāmu and Waiū Dairy**
Taupō dairy processor Miraka is teaming up with state-owned Pāmu and Māori-owned dairy processor Waiū Dairy as part of its focus on speciality dairy products.

The primary benefit of the strategic partnership is the three partners can share production facilities, a spokesperson said. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/miraka-partners-with-pamu-and-waiu-dairy)
2021-09-16T02:00:00Z	**Who launches a new music festival in lockdown?**
**This article is republished with permission from** [**The Spinoff.**](https://thespinoff.co.nz/business/09-09-2021/who-launches-a-new-music-festival-in-lockdown-this-guy/)

On a recent Monday, Hamish Pinkham finally approved a grand musical vision. For two years, the founder of Rhythm & Vines, the country’s longest-running music festival, had been dreaming of pulling together a new series of concerts. Scheduled for early J ... ⌘ [Read more](https://businessdesk.co.nz/article/services/who-launches-a-new-music-festival-in-lockdown)
2021-09-16T01:10:00Z	**Govt pumps another $7b into covid relief fund**
New Zealand’s strong economic momentum will support the rebound out of delta and that – coupled with a strong fiscal position – paved the way for the government to top up the covid-19 response and recovery fund with another $7 billion.

The economy expanded 2.8% in the [June quarter compared to the prior quarter](https://businessdesk.co.nz/article/economy/june-gdp-storms-higher-but-coming-quarter-will-be-bleak) and on an an ... ⌘ [Read more](https://businessdesk.co.nz/article/economy/govt-pumps-another-7b-into-covid-relief-fund)
2021-09-16T01:00:00Z	**Behind NZ Super Fund’s record-breaking year**
It’s the Bledisloe Cup of sovereign wealth funds – Australia’s A$196.7 billion Future Fund up against the $58 billion (A$56 billion) NZ Super Fund.

While both institutions have the same task of managing and growing the nation’s wealth, they deploy entirely different game plans. ⌘ [Read more](https://businessdesk.co.nz/article/finance/behind-nz-super-funds-record-breaking-year)
2021-09-15T23:40:00Z	**Deloitte poaches Colenso execs**
Consultancy firm Deloitte has made a splash in the advertising world with the hire of two senior executives from Colenso BBDO.

The advisory firm’s advertising division, Deloitte Digital Creative New Zealand, has poached Colenso’s executive creative director Dan Wright and executive director Ahmad Salim to head up the new business. ⌘ [Read more](https://businessdesk.co.nz/article/media/deloitte-poaches-colenso-execs)
2021-09-16T19:00:00Z	**Auckland bar owner borrowed $30k to cover wage subsidy delays**
A south Auckland bar owner has had to borrow $30,000 to continue paying his staff because of a 22-day delay in wage subsidy payments from the Ministry of Social Development.

Shaneel Sudhakar, who owns Republic Bar and Kitchen in Manukau, told BusinessDesk he applied for the first round of the wage subsidy on Aug 25, and the second round on Sept 10, but hadn’t received any money until Sept 15 ... ⌘ [Read more](https://businessdesk.co.nz/article/coronavirus/auckland-bar-owner-borrowed-30k-to-cover-wage-subsidy-delays)
2021-09-16T19:15:00Z	**$1b infrastructure housing fund attracts $5b in applications**
Kāinga Ora has received $5 billion worth of applications for projects under the government’s infrastructure acceleration fund, five times what’s available.

The fund is part of a raft of housing changes announced by the government on March 23 and is intended to speed up the construction of key infrastructure for housing development. ⌘ [Read more](https://businessdesk.co.nz/article/news-in-brief/1b-infrastructure-housing-fund-attracts-5b-in-applications)
2021-09-16T20:00:00Z	**Wake Up Call: Covid testing for the Auckland border**
**Summary** The net around Auckland draws tighter as workers crossing the border have to show evidence of a covid test within the last seven days from today. A reopening “red team”  would help the government steer the country out of covid, says a former chief science advisor to the PM.

**Testing introduced** From today, everyone crossing the boundary with Auckland has to have had a covid test in the previous sev ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/wake-up-call-covid-testing-for-the-auckland-border)
2021-09-16T21:30:00Z	**Dalton blinks: Auckland back in the America’s Cup hunt**
Auckland is back in the frame as the venue for the next America’s Cup, after the cup organisers this morning announced an indefinite delay in the choice of a host venue.

The decision, announced this morning, follows weeks of brinksmanship between Team New Zealand boss Grant Dalton and the backer of an Auckland bid, [Greymouth Petroleum founder Mark Dunphy](https://businessdesk.co.nz/article/olive-branch-no-che ... ⌘ [Read more](https://businessdesk.co.nz/article/boats/dalton-blinks-auckland-back-in-the-americas-cup-hunt)
2021-09-16T22:30:08Z	**Latest lockdowns take a bite out of manufacturing**
The latest lockdowns saw NZ’s manufacturing sector contract sharply.

The latest BNZ-BusinessNZ Performance of Manufacturing Index fell to 40.1 in August, a drop of 22.1 points from a very strong July. A reading below 50 means that manufacturing is declining. ⌘ [Read more](https://businessdesk.co.nz/article/latest-lockdowns-take-a-bite-out-of-manufacturing)
2021-09-16T23:30:00Z	**HeartLab raises $3.5m from Peter Thiel’s fund and others**
HeartLab, the New Zealand medtech company, has raised $3.5 million in a funding round led by [US tech billionaire Peter Thiel's](https://businessdesk.co.nz/article/opinion/peter-thiel-needs-his-luxury-lodge-to-win-us-over) Founders Fund.

The company said the capital raise will help to get its artificial intelligence (AI) heart scanning tech into the US market in early 2022. ⌘ [Read more](https://businessdesk.co.nz/article/technology/heartlab-raises-35m-from-peter-thiels-fund-and-others)
2021-09-17T00:00:00Z	**Auckland retail has lost $770m to covid**
Auckland’s inner city retail and hospitality businesses have lost the equivalent of $770 million in consumer spending since the first border closures in February 2020, the business association Heart of the City estimates.

That averages out to about $570,000 across 1,340, CBD based businesses. This is the highest concentration of retail and hospitality activity in the country, with about 20% of the city's businesses jammed into 1% of i ... ⌘ [Read more](https://businessdesk.co.nz/article/coronavirus/auckland-retail-has-lost-770m-to-covid)
2021-09-17T01:10:53Z	**NZ sniffing around tougher global methane pledge**
A global methane pledge spearheaded by the European Union and the US could increase the pressure on New Zealand to reduce methane emissions even more than its current commitments.

The US and EU have reportedly agreed to reduce human-caused methane emissions by at least 30% by 2030, compared with 2020 levels, according to a draft seen by Reuters. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/nz-sniffing-around-tougher-global-methane-pledge)
2021-09-17T01:47:13Z	**China wants to join Trans-Pacific Partnership, but will Aus agree?**
China has officially applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on the heels of the US, UK and Australia inking a new Indo-Pacific security partnership aimed at addressing "security challenges" in the region.

A ministry of foreign affairs spokesperson told BusinessDesk: "Their written request was delivered to the New Zealand Embassy i ... ⌘ [Read more](https://businessdesk.co.nz/article/economy/china-wants-to-join-trans-pacific-partnership-but-will-aus-agree)
2021-09-17T03:55:13Z	**Air NZ says lockdowns are hitting its financial performance**
Air New Zealand said the country’s lockdowns are hitting its short-term financial performance and it is drawing down more government money to keep in the air.

The company suspended earnings guidance at the end of August due to the ongoing uncertainty, but Friday said the monthly impact of nationwide level three or four travel restrictions is approximately $45 million to $55m, including the ... ⌘ [Read more](https://businessdesk.co.nz/article/listed-companies/air-nz-says-lockdowns-are-hitting-its-financial-performance)
2021-09-17T05:50:08Z	**Passive funds push NZX 50 higher**
New Zealand shares bounced back from a losing streak as fund managers who track the S&P/NZX and FTSE Russell indices completed their quarterly portfolio rebalance.

The S&P/NZX 50 Index rose 155 points, or 1.2%, to 13,234.55. Turnover was elevated at $883 million with an extended session to facilitate the rebalance. ⌘ [Read more](https://businessdesk.co.nz/article/markets/passive-funds-push-nzx-50-higher)
2021-09-17T17:00:00Z	**Rod Duke and the best-ever Briscoe’s sale**
Rod Duke, the driving force behind Briscoe Group, has clearly shown that industry expertise, innovative strategies and excellent execution are key ingredients for superior long-term sharemarket returns.

When Briscoe was listed in December 2001, it had an IPO value of just $210 million. This was slightly ahead of the market values of Michael Hill and Hallenstein Glasson at the time, but 90% below Stephen Tindall’s The Warehouse, whic ... ⌘ [Read more](https://businessdesk.co.nz/article/opinion/rod-duke-and-the-best-ever-briscoes-sale)
2021-09-17T18:00:00Z	**On the Money: Rocky start for FMA boss, Christian Hawkesby, Wānaka redux, and more**
Welcome to On the Money, our weekly column on money and the people making it.

**New regulator packs her baggage** ⌘ [Read more](https://businessdesk.co.nz/article/on-the-money/on-the-money-rocky-start-for-fma-boss-christian-hawkesby-wanaka-redux-and-more)
2021-09-18T17:00:00Z	**How to fight middle-aged spread in lockdown**
For many adults, there comes a time in their lives when the things they used to do to shift body fat no longer work. There will be others still whose bodies once naturally burned body fat without them having to do much at all. Regardless, it can be incredibly frustrating, and many women, in particular, share with me that it feels like their bodies have betrayed them. It hasn’t though.

While it may feel like the opposite, our bod ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/how-to-fight-middle-aged-spread-in-lockdown)
2021-09-18T17:00:00Z	**Chateau Cardboard – is boxed wine making a comeback?**
“What’s the state of boxed wine in New Zealand these days?” a friend asked me, pointing to an American critic’s published claim that the [quality of boxed wine](https://www.townandcountrymag.com/leisure/drinks/g37328703/best-boxed-wine/?source=nl&utm_source=nl_tnc&utm_medium=email&date=082421&utm_campaign=nl24766699&utm_term=AAA%20--%20High%20Minus%20Dormant%20and%2090%20Day%20Non%20Openers) in the United State ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/chateau-cardboard-is-boxed-wine-making-a-comeback)
2021-09-18T17:00:00Z	**Luxury watchmakers are taking the Mickey to get your attention**
With watch brands anxious to make up for lost time, we’ve just had a flourish of releases at the first non-virtual fair since covid struck, the so-called Geneva Watch Days.

Running from Aug 30 to Sept 3, the event welcomed on-the-ground attendees and on-line observers from around the world with a glance (or a look via Zoom) at the merchandise on offer, suggesting watchmakers are pulling out  ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/luxury-watchmakers-are-taking-the-mickey-to-get-your-attention)
2021-09-18T17:00:00Z	**My Net Worth: John Kirwan, founder and board chair, Sir John Kirwan Foundation, co-founder Mentemia**
Welcome to My Net Worth, our regular column on the lives and motivations of our country’s top politicians, businesspeople, and not-for-profit campaign leaders, in their own words.

John Kirwan found international fame in 1984 when, at just 19 years of age, he became an All Black. He went on to notch up 63 test appearances.  ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/my-net-worth-john-kirwan-founder-and-board-chair-sir-john-kirwan-foundation-co-founder-mentemia)
2021-09-18T17:00:00Z	**Buckle up for golf’s Ryder Cup**
“Don’t throw up.” These opening words of John Feinstein’s book A Good Walk Spoiled were all that PGA tour veteran Davis Love III could think of on his 18th and final hole at the Belfry in Warwickshire, England, in 1993. He managed to hold on to his breakfast and defeat Italian Constantino Rocca one up, giving the USA its 24th victory in the Ryder Cup.

But how has the Ryder Cup evolved from an exhibition match for touring professionals to a competi ... ⌘ [Read more](https://businessdesk.co.nz/article/the-life/buckle-up-for-golfs-ryder-cup)
2021-09-19T17:00:00Z	**Tech CEOs travelling abroad, with no way home**
Chief executives of New Zealand technology companies are choosing to travel abroad for work before they have secured a route back into the country with a spot in managed isolation (MIQ).

NZ’s borders remain closed and from 8am Monday booking rooms in MIQ will rely on a ‘virtual lobby’ system that randomly selects applicants. ⌘ [Read more](https://businessdesk.co.nz/article/technology/tech-ceos-travelling-abroad-with-no-way-home)
2021-09-19T18:00:58Z	**America’s Cup: details of the Dunphy deal emerge**
Auckland-based oil company founder Mark Dunphy is promising to put $20 million of his own money into a New Zealand defence of The America’s Cup but is relying on the government upping its contribution beyond the $31m cash already offered.

Detail of the Dunphy offer comes from a copy of a Sept 14 letter from Dunphy to Aaron Young, the commodore of the Royal NZ Yacht Squadron, which officially holds the cup, and the ch ... ⌘ [Read more](https://businessdesk.co.nz/article/technology/americas-cup-details-of-the-dunphy-deal-emerge)
2021-09-19T18:00:07Z	**Govt needs to end "queue of human misery"**
It’s three years since Sid (not his real name) and his wife, a highly skilled migrant, arrived in New Zealand on a work visa that promised them permanent residency within two years.

Twelve months after that deadline passed, the couple are living on a boat in an Auckland marina, still unable to buy a house here because they are classed as foreign investors. ⌘ [Read more](https://businessdesk.co.nz/article/immigration/govt-needs-to-end-queue-of-human-misery)
2021-09-19T19:00:00Z	**Wage subsidy criteria is getting harder to meet**
One thing the New Zealand government has been clear about, both in our original Mar 2020 covid-19 outbreak and the latest Aug 2021 outbreak, is that support would be made available to businesses.

In both cases, the Ministry of Social Development (MSD) and Inland Revenue worked hard to quickly introduce and roll out systems to take and verify applications. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/wage-subsidy-criteria-is-getting-harder-to-meet)
2021-09-19T20:00:00Z	**Wake Up Call: To extend level 4, or not**
**Summary** The tea leaves aren’t looking good for a step down from level 4 for Auckland today, with a covid outbreak found in Thames also likely to impact on restrictions in the Waikato. Chief executives of New Zealand tech companies are taking overseas trips on missions so critical they are leaving without having MIQ spaces booked. The new MIQ system begins today with applicants randomly selected for a queue.

**Lockdown predictions** The ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/wake-up-call-to-extend-level-4-or-not)
2021-09-19T21:00:00Z	**NZX: 'The future is bright’**
The New Zealand Stock Exchange (NZX) has [copped its fair share of flak](https://businessdesk.co.nz/article/155-year-old-nzx-on-life-support) over the past two years as commentators have criticised them for failing to attract new listings and prevent trading outages.

Much of this is well-founded; the Australian Securities Exchange (ASX) has been stealing NZ listings away from the local exchange and the NZX has spent more time offline than any reasonable person wou ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/nzx-the-future-is-bright)
2021-09-19T21:50:00Z	**Chinese firm FountainVest Partners closing in on Ziwi – report**
Chinese private equity firm FountainVest Partners is nearing a deal to buy pet food company Ziwi, according to people familiar with the matter, Bloomberg reported.

FountainVest plans to buy Ziwi in a deal that would value the company at about $1.5 billion, the report said. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/chinese-firm-fountainvest-partners-closing-in-on-ziwi-report)
2021-09-20T00:00:00Z	**MIQ system 'solves nothing': 25k people for 3,200 rooms**
The new lottery style booking system for managed isolation and quarantine was overwhelmed by demand on its opening morning as 25,000 people applied for only 3,200 available rooms.

NZ Initiative chief economist Eric Crampton said the lottery system has "solved nothing". ⌘ [Read more](https://businessdesk.co.nz/article/coronavirus/miq-system-solves-nothing-25k-people-for-3200-rooms)
2021-09-20T00:21:59Z	**Move expects cash hit from Auckland lockdowns**
[Move Logistics](https://businessdesk.co.nz/company/move-logistics) says its trading results for the half year will be materially impacted by covid lockdowns in Auckland and the longer they go on, the worse off the company will be.

In its first market update since posting its annual results on Aug 26, the NZX listed freight and logistics firm said its fuel division had suffered the most from falling consumer demand as a r ... ⌘ [Read more](https://businessdesk.co.nz/article/news-in-brief/move-expects-cash-hit-from-auckland-lockdowns)
2021-09-20T02:15:38Z	**Grain-fed America keen on Silver Fern Farms' grass-fed beef**
Justin Marx, chief executive of Seattle-based Marx Foods, said he started importing Silver Fern Farms grass-fed beef well before it was trendy and now one of his biggest challenges is getting enough supply.

“We’ve got an exclusive on their Angus programme for the US market in the food services sector. We actually introduced Silver Fern Farms Angus to the US market a decade ago,” he said. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/grain-fed-america-keen-on-silver-fern-farms-grass-fed-beef)
2021-09-20T04:00:00Z	**SPAC deal to put Alvarium NZ on the Nasdaq**
Alvarium NZ is part of a multinational merger deal that will see the fund manager listed on the Nasdaq a part of a larger group, BusinessDesk understands.

The boutique asset manager is the majority shareholder of Pathfinder Asset Management, Newton Ross, and a joint venture partner in the venture capital fund Nuance Connected Capital. ⌘ [Read more](https://businessdesk.co.nz/article/markets/spac-deal-to-put-alvarium-nz-on-the-nasdaq)
2021-09-20T04:42:45Z	**NZ natural pet food company sold to Chinese firm**
Ziwi shareholders have signed a sale and purchase agreement with private equity fund FountainVest Partners.

“This positions Ziwi well for the future and provides strong additional support for the company’s ambitious growth plans,” the company said. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/nz-natural-pet-food-company-sold-to-chinese-firm)
2021-09-20T05:42:02Z	**Bunnings case for ‘misleading advertising’ dismissed**
The Commerce Commission has failed in its bid to have Bunnings charged over alleged “misleading advertising” in the Auckland district court.

The commission alleged 45 breaches of the Fair Trading Act in the long-running case over Bunnings' use of the slogan “lowest price guaranteed,” which it said implied the hardware business offered the lowest prices in the market for all its products. ⌘ [Read more](https://businessdesk.co.nz/article/retail/bunnings-case-for-misleading-advertising-dismissed)
2021-09-20T17:00:00Z	**RBNZ to clobber first-home buyers with new LVR restrictions**
The tighter loan-to-valuation ratio restrictions the Reserve Bank of New Zealand (RBNZ) is proposing will clobber first-home buyers most, at odds with finance minister Grant Robertson's oft-stated desire to encourage more first-home buyers into homeownership.

The RBNZ plans to reduce the amount of high loan-to-valuation ratio (LVR) lending each bank can do to no more than 10% of new lending from Oct  ... ⌘ [Read more](https://businessdesk.co.nz/article/finance/rbnz-to-clobber-first-home-buyers-with-new-lvr-restrictions)
2021-09-20T18:00:00Z	**$4-a-week recipe service takes on My Food Bag**
A new $4 per week meal planning service hopes to challenge meal kit companies My Food Bag and Hello Fresh with an approach to food delivery it says is more flexible and sustainable.

MenuAid offers recipes written by Foodlovers.co.nz’s Helen Jackson and Masterchef winner Brett McGregor via a website that integrates with Countdown’s online shopping site. ⌘ [Read more](https://businessdesk.co.nz/article/technology/4-a-week-recipe-service-takes-on-my-food-bag)
2021-09-20T18:00:00Z	**China's CPTPP bid: What is Beijing up to?**
There are two explanations for last week’s surprising application letter to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP). One is economic. The other is political.

The economic explanation would have a group of purist economists taking over the decision-making process in Beijing. ⌘ [Read more](https://businessdesk.co.nz/article/trade/chinas-cptpp-bid-what-is-beijing-up-to)
2021-09-20T18:00:00Z	**The New Zealander changing the publishing world**
As a former writer for publications including the New Zealand Listener, Hamish McKenzie, the NZ co-founder of digital publisher Substack, knows a thing or two about the value of journalists.

The Otago-raised entrepreneur's career before launching the US$650 million startup makes for some interesting reading. ⌘ [Read more](https://businessdesk.co.nz/article/media/the-new-zealander-changing-the-publishing-world)
2021-09-20T19:40:00Z	**Tourism Holdings mulling a dual Aussie listing - report**
Tourism Holdings is reportedly looking at a dual listing in Australia.

The rental campervan operator has been gauging small-cap fund managers’ appetite at an Ord Minnett roadshow late last week, the Australian Financial Review reported. ⌘ [Read more](https://businessdesk.co.nz/article/listed-companies/tourism-holdings-mulling-a-dual-aussie-listing-report)
2021-09-20T20:00:00Z	**Wake Up Call: Wall Street takes a beating**
**Summary** Aucklanders are waiting through their last day in level 4 lockdown, for level 3 that will enable them to obtain good coffee and takeaways, and attend small funerals. The Reserve Bank of New Zealand releases a speech today about its “least regrets” approach to monetary policy – which influences interest rates and the housing market.

**Takeout heaven** Auckland’s cafes and restaurants will spend today preparing for tak ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/wake-up-call-wall-street-takes-a-beating)
2021-09-20T21:00:00Z	**Life with delta – time to get scared**
Last week may have been the hell of level four for Aucklanders, but at least there was some fun trying to think up the best name for the vaccination buses.

My personal favourite: Jabbin' Wagon. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/life-with-delta-time-to-get-scared)
2021-09-20T21:30:00Z	**RBNZ steps carefully with next rates move**
The Reserve Bank is on track to lift interest rates, but looks to be contemplating “considered steps” in the current environment as opposed to a hefty rate hike.

“We are in a good position to navigate the period ahead, with the labour market operating at maximum sustainable employment, inflation expectations well-anchored at our target, and financial markets functioning well,” said assistant governor Christian Hawkesby in a spee ... ⌘ [Read more](https://businessdesk.co.nz/article/policy/rbnz-steps-carefully-with-next-rates-move)
2021-09-21T00:30:00Z	**Lockdown finishes off Fabric IPO**
Five weeks in lockdown was enough to scare Stride Property off its $250 million office property listing plan, withdrawing the offer just hours before the bookbuild was set to begin.

Chair Tim Storey told BusinessDesk overall market sentiment, both here and overseas, wasn’t conducive to an IPO. ⌘ [Read more](https://businessdesk.co.nz/article/markets/lockdown-finishes-off-fabric-ipo)
2021-09-21T02:15:00Z	**Union Green developer liquidated owing $17m**
A ruling by the building disputes tribunal has plunged the original developer of Union Green apartments, West Village Capital Partners, into liquidation owing more than $17 million.

The first report into West Village by liquidator Grant Reynolds of Reynold and Associates said the development firm went into liquidation on Sept 14 with claims of more than $17m against it. ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/union-green-developer-liquidated-owing-17m)
2021-09-21T03:00:00Z	**Tiwai considers increasing production**
Rio Tinto has appointed Chris Blenkiron as chief executive of New Zealand Aluminium Smelter as it nears a decision on whether to increase current production as aluminium prices soar.

Blenkiron is a New Zealander who is currently the president of NS BlueScope Indonesia and has previously held the role of general manager of market, sales and business development at New Zealand Steel. ⌘ [Read more](https://businessdesk.co.nz/article/energy/tiwai-considers-increasing-production)
2021-09-21T03:00:00Z	**What happens when Beijing’s housing bubble bursts?**
You just have to look at the stunning collapse in the iron ore price to realise how nervous investors have become about the outlook for China.

Of course, the ostensible reason for the steep slide in the [iron ore price](https://www.afr.com/link/follow-20180101-p58t28) is Beijing’s move to impose production cuts on the country’s steel industry due to environmental concerns. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/what-happens-when-beijings-housing-bubble-bursts)
2021-09-21T04:10:00Z	**Dunphy denies Dalton's dirty tricks dig**
Team New Zealand and its would-be [Auckland regatta backer Mark Dunphy](https://businessdesk.co.nz/article/americas-cup-details-of-the-dunphy-deal-emerge) continued to trade barbs in the media today, with Dunphy explicitly saying claims by America’s Cup team boss Grant Dalton are "false".

At the same time, Team NZ released the results of a poll from Talbot Mills – formerly UMR and the Labour Party’s pollster of choice – suggest ... ⌘ [Read more](https://businessdesk.co.nz/article/americas-cup/dunphy-denies-daltons-dirty-tricks-dig)
2021-09-21T06:10:54Z	**NZ shares flat as global markets fear Evergrande crisis**
New Zealand’s defensive share market was mostly immune to global jitters as a giant [Chinese firm looks ready to collapse](https://businessdesk.co.nz/article/economy/what-happens-when-beijings-housing-bubble-bursts) under the weight of hundreds of billions of debt.

The S&P/NZX 50 Index was almost unchanged, down just 1.6 points, or 0.01%, at 13,165.94. Turnover was $173 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/nz-shares-flat-as-global-markets-fear-evergrande-crisis)
2021-09-21T17:00:38Z	**Court rules on Turners’ car-yard quarrel and the non-compliant Hellcat**
Turners Automotive did not breach fundamental covenants in a contract with a vendor who was [banned from its car yards](https://businessdesk.co.nz/article/why-turners-kicked-vendor-off-car-yards), the high court has found.

Entrepreneur and Buy Right Cars founder Brandon Orlandini, who sold the business to Turners in 2016, sued the NZX-listed company after the relations ... ⌘ [Read more](https://businessdesk.co.nz/article/listed-companies/court-rules-on-turners-car-yard-quarrel-and-the-non-compliant-hellcat)
2021-09-21T18:00:00Z	**2degrees: IPO this year but 5G plans disrupted**
2degrees continued to present its business case to potential investors during the latest lockdown and still intends to [list on the ASX and NZX](https://businessdesk.co.nz/article/opinion/2degrees-of-separation) by the end of the year.

The non-deal roadshow the company began earlier in the year continued through September via video presentations. ⌘ [Read more](https://businessdesk.co.nz/article/technology/2degrees-ipo-this-year-but-5g-plans-disrupted)
2021-09-21T18:00:00Z	**Does Kiwi's build-to-rent apartment project stack up for investors?**
Is 4.5% enough of an initial yield for Kiwi Property's investors to back the [new $221 million build-to-rent](https://businessdesk.co.nz/article/property/kiwi-property-doubles-down-on-build-to-rent-apartments)(BTR) project at Sylvia Park?

If one just judged by the share price reaction, it can only be described as lukewarm on an admittedly down day for the market as a whole. ⌘ [Read more](https://businessdesk.co.nz/article/retail/does-kiwis-build-to-rent-apartment-project-stack-up-for-investors)
2021-09-21T19:00:24Z	**Plus expenses: why default fee savings could be less than expected**
The greatest experiment in KiwiSaver history since the scheme launched in 2007 goes live in a couple of months.

From Nov 30, an estimated 300,000 KiwiSaver members, and more importantly their collective $3.6 billion or so, will ship out from the five fired default providers into new government-allocated homes among the six newly approved schemes. ⌘ [Read more](https://businessdesk.co.nz/article/finance/plus-expenses-why-default-fee-savings-could-be-less-than-expected)
2021-09-21T20:00:00Z	**Wake Up Call: Auckland gets back on site**
**Summary** Midnight queues of cars outside fast food joints marked a return to takeaways and also a return to work for hundreds of thousands of Aucklanders staffing retailers opening for click and collect, food outlets and construction sites. The Chinese housing market teeters as China reopens after a two-day public holiday to face the threat of giant property company Evergrande’s collapse.

**Back to work** It’s back to work today on ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/wake-up-call-auckland-gets-back-on-site)
2021-09-21T22:00:00Z	**Get jabbed and plug in – Vodafone’s vaccine staff incentive**
Vodafone is the latest corporate to dangle a carrot for its 2,000 staff to get vaccinated against covid-19 – free internet for a couple of months.

The country’s biggest mobile provider will give all fully vaccinated employees and contractors a $200 broadband credit and the chance to win one of 10 new phones. For a basic monthly fibre plan of $69, that’s almost three months free, or if they ... ⌘ [Read more](https://businessdesk.co.nz/article/coronavirus/get-jabbed-and-plug-in-vodafones-vaccine-staff-incentive)
2021-09-21T22:30:00Z	**Tax skimming software to be banned**
The government is moving to ban sales suppression software with hefty fines for selling or possessing the tax evasion tool.

Sales suppression software works by altering point of sales (POS) transaction records to make it look like fewer sales have been made. ⌘ [Read more](https://businessdesk.co.nz/article/retail/tax-skimming-software-to-be-banned)
2021-09-22T00:00:00Z	**How covid has changed airlines and passengers**
It won’t be too much longer before airlines can restart long-haul international flights.

As vaccination levels climb, countries are beginning to carefully reopen their borders. Not to all comers, but to low risk travellers. ⌘ [Read more](https://businessdesk.co.nz/article/travel/how-covid-has-changed-airlines-and-passengers)
2021-09-22T00:20:00Z	**Radius revenue up but so were costs in 5 months ended August**
Radius Residential Care said revenue and occupancy for the five months ended August were stronger than for the same months last year but this was offset by covid-related cost increases.

These costs related to border and supply chain issues as well as increase labour and consumables costs, executive chair Brien Cree told the annual shareholders' meeting. ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/radius-revenue-up-but-so-were-costs-in-5-months-ended-august)
2021-09-22T02:15:00Z	**Trustpower shareholders back sale to Mercury**
Trustpower shareholders have indicated their approval for the sale of its retail business to Mercury Energy and a move to becoming a generation-only company called Manawa Energy.

The $441 million deal will result in [Mercury buying retail electricity, gas and telecommunications services from Trustpower.](https://businessdesk.co.nz/article/mercury-buys-trustpowers-retail-business-in-441m-deal) ⌘ [Read more](https://businessdesk.co.nz/article/energy/trustpower-shareholders-back-sale-to-mercury)
2021-09-22T03:00:00Z	**James Shaw's mission improbable to Glasgow**
Climate change minister James Shaw is getting independent advice on what international commitments New Zealand makes when he travels to Glasgow for this year’s big climate change talks.

NZ is overdue in delivering a new emissions reductions target (officially known as nationally determined contributions or NDCs) under the Paris Agreement. ⌘ [Read more](https://businessdesk.co.nz/article/climate-change/james-shaws-mission-improbable-to-glasgow)
2021-09-22T05:46:22Z	**NZ shares up with Evergrande lurking in background**
New Zealand shares edged higher as fear of Evergrande’s collapse faded into the background and investors were happy to buy on the recent dip in prices.

The S&P/NZX 50 Index rose 38 points, or 0.3%, to 13,215.8. Turnover was $145 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/nz-shares-up-with-evergrande-lurking-in-background)
2021-09-22T06:30:43Z	**America’s Cup: Dalton denounces ‘despicable’ Dunphy**
Team New Zealand says it will refuse to deal with local rich-lister Mark Dunphy and his attempt to keep the next America’s Cup regatta in Auckland, releasing evidence it says shows “underhanded and deceitful” tactics in support of the initiative.

Describing Dunphy’s actions as “despicable", Team NZ boss Grant Dalton said they involved contacting the New York Yacht Club, which holds the deed of gift governi ... ⌘ [Read more](https://businessdesk.co.nz/article/boats/americas-cup-dalton-denounces-despicable-dunphy)
2021-09-22T17:00:06Z	**Second Vital report reveals greater clarity on fees**
When Vital Healthcare Property Trust's manager opted in early 2019 for Vital to be classed as a managed investment scheme, it might have thought it would have an easier ride than if Vital was classed as an equity security.

It certainly looked that way at the time. ⌘ [Read more](https://businessdesk.co.nz/article/property/second-vital-report-reveals-greater-clarity-on-fees)
2021-09-22T18:00:40Z	**Box 112's property sale part of expansion plans**
Property company Box 112 says the time was right to sell its three Christchurch early childcare education (ECE) centres, as it moves to expand it commercial portfolio.

The properties were snapped up by Quarry Capital for $14.4 million and will form part of its growing ECE-focused Artemis Property scheme. ⌘ [Read more](https://businessdesk.co.nz/article/property/box-112s-property-sale-part-of-expansion-plans)
2021-09-22T18:00:24Z	**Vulcan IPO process may skip NZ investors**
Vulcan Steel’s billion-dollar initial public offering appears to be focusing on the Australian market to the annoyance of local fund managers.

The New Zealand-based business operating out of East Tamaki in Auckland first pitched its dual-listing on the ASX and NZX to Australian fund managers in July with informal meetings. ⌘ [Read more](https://businessdesk.co.nz/article/markets/vulcan-ipo-process-may-skip-nz-investors)
2021-09-22T18:00:00Z	**AUKUS deal threatens to crimp our quantum ambitions**
When our three closest allies announced last week they were forming a cosy military alliance, the scrutiny was on the nuclear submarine technology Australia will now gain access to.

But the AUKUS pact between the United Kingdom, United States and Australia also explicitly includes something potentially more significant – the sharing of knowledge around artificial intelligence (AI) and quantum technology. ⌘ [Read more](https://businessdesk.co.nz/article/opinion/aukus-deal-threatens-to-crimp-our-quantum-ambitions)
2021-09-22T18:00:00Z	**'Untenable': pharma boss sends staff on one-way ticket**
AFT Pharmaceuticals is sending key employees offshore on a one-way ticket to ensure it doesn't lose ground to its global competitors, while New Zealand sticks with its stringent border controls.

The NZX-listed company, which develops and distributes branded and generic drugs to about 50 global markets, has transferred two of its New Zealand-based business development managers to Europe, increasing its on the groun ... ⌘ [Read more](https://businessdesk.co.nz/article/health/untenable-pharma-boss-sends-staff-on-one-way-ticket)
2021-09-22T20:00:00Z	**Wake Up Call: Eight steps to support hospitality**
**Summary** It’s a big day for annual meetings and results today with Mercury and Fonterra providing updates. As Auckland takeaways reopen, the Restaurant Association has unveiled a roadmap to reopening for the hospitality industry.

**Dining support** As Auckland takeaways reopen, the Restaurant Association has unveiled a roadmap to reopening for the hospitality industry. It would include a variety of governmental subsid ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/wake-up-call-eight-steps-to-support-hospitality)
2021-09-22T21:00:02Z	**Fonterra eyes Kiwi-made in Chile exit, Aussie IPO**
Fonterra announced a solid full-year profit and said it's looking to sell its Chilean assets and might sell down its Australian business in an initial public offering as part of a wider reset.

The world's biggest dairy exporter said net profit was $599 million for the 12 months ended July 31, down $60m on the prior year, which included some gains from asset sales. ⌘ [Read more](https://businessdesk.co.nz/article/listed-companies/fonterra-eyes-kiwi-made-in-chile-exit-aussie-ipo)
2021-09-22T22:30:00Z	**What Apple’s iOS 15 roll-out means for email marketing**
In June, Apple dropped some news which caused quite a stir in the marketing community. As part of its planned roll-out of its latest operating system, [iOS 15](https://www.apple.com/nz/ios/ios-15/), it would be introducing new privacy features which would provide users with greater visibility and control over how apps use their data.

This represents the latest step from Apple in its mission to deliver ... ⌘ [Read more](https://businessdesk.co.nz/article/business-advice/what-apples-ios-15-roll-out-means-for-email-marketing)
2021-09-22T22:58:00Z	**AWS's $7.5 billion NZ spend up**
Amazon Web Services (AWS) plans to open a data centre region in Auckland in 2024.

The region will comprise three “availability zones”, which were described by AWS NZ country manager Tim Dacombe-Bird as separate physical locations with one or more data centres. ⌘ [Read more](https://businessdesk.co.nz/article/technology/awss-75-billion-nz-spend-up)
2021-09-22T23:25:00Z	**Pacific Edge performs U-turn on capital raise**
Pacific Edge has announced a $60 million capital raise to coincide with its ASX listing [just two weeks after attempting to persuade investors](https://businessdesk.co.nz/article/pacific-edge-rebuffs-asx-capital-raise-information) it was not seeking additional funding.

Documents accidentally released to the ASX included details of a A$70m (NZ$72.4m) capital raise managed by Bell Potter Securities, Forsyth Barr and Jarden Securi ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/pacific-edge-performs-u-turn-on-capital-raise)
2021-09-23T00:00:00Z	**Unexpected sting in vaccine follow-up texts**
About 7,000 people got an unwelcome second jab when they discovered MedSafe’s free text follow-up survey to check for any adverse reactions wasn’t actually free.

The post-vaccine symptom check survey randomly selected 10% of the population to receive a text message after both of their vaccination appointments, asking whether the person had any reaction to the jab. ⌘ [Read more](https://businessdesk.co.nz/article/coronavirus/unexpected-sting-in-vaccine-follow-up-texts)
2021-09-23T01:00:00Z	**Stride reinstates dividend guidance after IPO withdrawal**
Stride Property has reinstated its guidance of paying dividends of at least 9.91 cents per share this year following the decision to not spin-off of its office assets into a new listed vehicle called Fabric.

That spin-off was foreshadowed to have cut the payout to between 9.34c and 9.36c from the 9.91c dividend promised in May when the company released its annual results. ⌘ [Read more](https://businessdesk.co.nz/article/property/stride-reinstates-dividend-guidance-after-ipo-withdrawal)
2021-09-23T02:00:00Z	**Directors' duties: MPs to weigh purpose beyond profit**
A law change saying company directors may take into account wider issuers than the best interests of their company and shareholders when making decisions is to be debated in Parliament.

The Companies (Directors Duties) Amendment Bill was drawn out of the members’ bill ballot today. It is in the name of Labour MP Duncan Webb, so has the backing of the Labour caucus, which gives it the numbers to progress t ... ⌘ [Read more](https://businessdesk.co.nz/article/law-regulation/directors-duties-mps-to-weigh-purpose-beyond-profit)
2021-09-23T03:20:00Z	**Mahuta digs in on three waters reforms**
The local government minister, Nanaia Mahuta, has given her strongest signal yet the government will press ahead with its [reform of drinking, waste and storm water services](https://businessdesk.co.nz/article/balance-tipping-towards-forced-3-waters-amalgamation), despite a chorus of opposition from the assets’ local government owners.

[Speaking in parliament’s daily question time](https://ondemand.parliament.nz/parliament-tv-on-d ... ⌘ [Read more](https://businessdesk.co.nz/article/infrastructure/mahuta-digs-in-on-three-waters-reforms)
2021-09-23T04:45:00Z	**Market regulator to review Pacific Edge disclosures**
Listed market regulator NZ RegCo will review Pacific Edge’s disclosures [regarding today’s capital raise](https://businessdesk.co.nz/article/markets/pacific-edge-performs-u-turn-on-capital-raise), having already engaged with the firm when some details were made public on the ASX.

Just two weeks ago, Pacific Edge was attempting to quell rumours [after documents it provided to the ASX](https://businessdesk.co.nz/a ... ⌘ [Read more](https://businessdesk.co.nz/article/markets/market-regulator-to-review-pacific-edge-disclosures)
2021-09-23T06:05:48Z	**Fonterra fund leads NZX 50 higher**
New Zealand shares followed global markets higher led by the Fonterra shareholders’ fund after the cooperative announced a strategy reset that would return capital to investors.

The S&P/NZX 50 Index rose 85.70 points, or 0.7%, to 13,305.92. Turnover was $162 million. ⌘ [Read more](https://businessdesk.co.nz/article/markets/fonterra-fund-leads-nzx-50-higher)
2021-09-23T18:00:30Z	**The Fonterra fund is on life support**
Investors could be forgiven for thinking Fonterra’s having a laugh if it wants them to give it another go.

The shareholders’ fund kicked off with such a [hiss and a roar](https://businessdesk.co.nz/article/market-close-fonterra-fund-produces-historic-stag-up-26-percent-on-day-one) in 2012 with massive demand driving a 26% spike in the unit price on debut and marching 47% higher to a peak of $8.09 just four months later. ⌘ [Read more](https://businessdesk.co.nz/article/primary-sector/the-fonterra-fund-is-on-life-support)
2021-09-23T18:00:06Z	**Modelling reinforces importance of 90%+ vaccination rates**
New [modelling from Te Pūnaha Matatini](https://www.tepunahamatatini.ac.nz/2021/09/23/modelling-to-support-a-future-covid-19-strategy/) underlines how important it will be to achieve vaccination rates significantly above 90% if New Zealand is to move beyond a strategy of lockdowns and strict border controls.

Under some of the modelled scenarios, with vaccine coverage above 90% of everyone over five an ... ⌘ [Read more](https://businessdesk.co.nz/article/coronavirus/modelling-reinforces-importance-of-90-vaccination-rates)
2021-09-23T20:00:00Z	**The libertarian who kicked Elon Musk out of PayPal**
From office space above a stationery shop and a French-themed bakery in California’s Palo Alto, Elon Musk and Peter Thiel built a business that changed commerce.

But it wasn’t the same office. In 1999 there were so many financial-payment start-ups in Silicon Valley that Musk and Thiel were running competitors from the same floor of the same anonymous building. ⌘ [Read more](https://businessdesk.co.nz/article/technology/the-libertarian-who-kicked-elon-musk-out-of-paypal)
2021-09-23T21:30:00Z	**Investors challenge ruling on Halifax valuation**
Investors have challenged a high court decision to value the deficient funds of online derivatives trader Halifax at its administration date, taking the ruling to the court of appeal and federal court of Australia.

Choon Boon Loo brought the appeal, representing more than a thousand "category one" Halifax investors. He argued that a later date for valuation was appropriate, to capture the increased return to those who had o ... ⌘ [Read more](https://businessdesk.co.nz/article/finance/investors-challenge-ruling-on-halifax-valuation)