Covid-19 has done little to dampen investment in New Zealand startups. A report from the business advisory firm, PwC, shows angel investment in the six months to June was down by just 5 percent on the year earlier, with $33.6 million pumped into fledgling firms. A total of 41 deals were completed over the period, […]

The government should stop focusing on unproven hydrogen energy technology to tackle climate change, says an expert. Canterbury University professor of mechanical engineering Susan Krumdieck said the government was enthusiastic about the development of green hydrogen, but it was a waste of time and money. Green hydrogen is a potential future vehicle fuel that would […]

The windfarm operator and developer Tilt Renewables has more than doubled its profit for the six months to September, mostly through accounting provisions, as it juggles developments in a changing energy sector. The company reported an after-tax profit of $AU11.8 million up from $AU6.8m on the year earlier. Its revenue was down after selling a […]

Speciality dairy company Synlait will raise $200 million through share issue to strengthen its balance sheet and complete the investment required under a new partnership it has with a global company. There had been speculation the company would raise funds after it was placed in a trading halt yesterday. The placement has been underwritten at […]

A 10 percent increase in the government’s GST returns this year is raising further questions about the huge uptake of the government’s $14 billion wage subsidy scheme. Latest figures show total net GST paid by businesses to Inland Revenue increased by $1.184bn for the first seven months of the year. There was a drop off […]

KiwiRail is working around the clock to improve the movement of freight to and from the country’s two biggest ports, Auckland and Tauranga, which are congested. The domestic supply chain is congested, with industrial action at Australian ports and disruption in other key markets, combined with the annual pre-Christmas freight rush and peak export season. […]

People are being urged to seek financial help as soon as they find themselves struggling as a result of the Covid-19 pandemic. The Financial Services Complaints service, funded by registered financial service providers, expects complaints to increase by as much as 30 percent once government and lender support packages come to an end. “We know […]

The tourism industry is facing a multi-billion dollar loss of revenue after borders closed and international travel screeched to a halt. Earlier this year, New Zealand experienced its first day of no overseas visitors in decades when hundreds of flights would usually arrive and depart daily. Industry leaders are meeting in Wellington today to discuss […]

Rising public anger about growing inequality is likely to force the imposition of a capital gains or wealth tax in the next few years, according to the chief economist of Westpac. In its latest monthly report the bank’s economists said the economy had done better than expected as it absorbed the shock of a global […]

The Port of Napier has weathered the impact of the Covid-19 pandemic and a fall in cargo volumes with a solid lift in profit. The company has reported a profit of $22 million for the year ended September compared with a forecast of $20m in last year’s share float documents and an actual profit of […]