NewsBite

New Zealand

September

Endeavour Group boss Steven Donohue is exiting the top job after six years as CEO and 30 years with the company.

Dan Murphy’s parent Endeavour rocked by CEO exit

Over three decades Steve Donohue rose from the Dan Murphy’s shop floor to the top job. On Friday, he shocked the market with his departure.

  • Updated
  • Carrie LaFrenz
The RBA board has left the cash rate on hold at 4.35 per cent.

Inflation to hit three-year low, but don’t expect a rate cut: Bullock

Michele Bullock says she will ignore data on Wednesday that is likely to show inflation back in target band, warning government energy rebates will not bring forward a rate cut.

  • Updated
  • Michael Read
A quick equity injection will help Fletcher in the near-term, but it’s always a long road back from such raisings.

Troubled Fletcher gets its quick cash, but problems don’t disappear

It’s good that companies can raise equity quickly. But it is also a long road back.

  • Anthony Macdonald
Woolworths’ new chief executive Amanda Bardwell is facing calls to divest the company’s Big W business.

Woolworths faces investor calls to ditch Big W, New Zealand

The new chief executive of the country’s supermarket chain is being urged to focus on the company’s core business, which is losing ground to Coles.

  • Carrie LaFrenz and Jonathan Shapiro
Israeli soldiers arrest a blindfolded Palestinian during an army raid in Tubas, West Bank, on Wednesday, Sept. 11, 2024.

Australia set to break with US on West Bank vote

The Albanese government is disappointed Palestinians have not made more concessions on a UN resolution demanding an end to Israel’s occupation but won’t vote no.

  • Andrew Tillett
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Australia’s productivity has not recovered from the pandemic era.

Fix low productivity or get used to high inflation for longer

The economy is in an unusual bind. The only way out is to reverse Australia’s dismal productivity performance.

  • Paul Bloxham
Mid-tier fashion group Country Road is owned by South Africa’s Woolworths Holdings.

Country Road goes cheaper at Mimco, Politix in brand ‘reset’

The high-profile retailer will also launch its first fragrance as part of the overhaul, part of a bid to arrest a slide in sales after a difficult year.

  • Carrie LaFrenz
The federal government should establish a national mandatory pre-commitment system across all online gambling.

It’s time Australia put the guardrails on its gambling habit

The public is ready for gambling reform, if only politicians were brave enough to take it up.

  • Aruna Sathanapally
Japanese and Australian troops now co-operate more closely.

Japan and Australia face a turning point in world history

Tokyo and Canberra back a free and open international order against unilateral attempts to coerce, says a contender in Japan’s prime ministerial race.

  • Yoko Kamikawa
Skiing in New Zealand.

New Zealand nearly triples fees for foreign tourists

Like many popular travel destinations, the shaky isles have struggled with the impact of visitors on the natural environment and local infrastructure.

  • Lucy Craymer

August

Landmark mansion Iona headlines spring trophy listings with $40m guide

The seven-bedroom, 1888-built mansion is on a 2716-square-metre block and is thought to be the Sydney eastern suburb’s largest private landholding.

  • Bonnie Campbell
Brad Banducci has run Woolworths for eight years. He presented his last financial update on Wednesday.

Woolworths loses ground to Coles after tumultuous year

The major retailer recorded a slight fall in underlying profit, which were all but wiped out by a big write-down in its New Zealand business.

  • Updated
  • Carrie LaFrenz
New Zealand

New Zealand to push through law to reverse ban on oil and gas exploration

The law would end the ban, in place since 2018, on exploration as the right-of-centre government plans to lure investment to the country’s oil and gas sector.

  • Renju Jose
Christine Lagarde, president of the European Central Bank (ECB), from left, Kazuo Ueda, governor of the Bank of Japan (BOJ), and Jerome Powell, chairman of the US Federal Reserve, at the Jackson Hole economic symposium in Moran, Wyoming, US, on Friday.

Jackson Hole gathering reveals fresh concern for central bankers

Officials from three of the world’s major central banks have signalled they are on course to lower interest rates emerging weakness in labour markets and growth become the chief threat for policymakers.

  • Steve Matthews, Mark Schroers and Jonnelle Marte
Barrenjoey chief economist Jo Masters says the NZ economy is incredibly challenging, but expects the slowdown will be softened by a series of rate cuts.

NZ gloom weighs on ASX-listed companies

Earnings season has revealed how tough conditions are in New Zealand. The question is what that means for Australia.

  • Jemima Whyte
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Accent Group CEO Daniel Agostinelli said sales  early in the new year have climbed nearly 9 per cent.

Blundy’s Accent Group misses lofty expectations

After a tough 2023-24 when sales rose just 2.4 per cent and earnings fell, the new year began slower than investors expected, pushing shares down 16 per cent.

  • Carrie LaFrenz
Chris Morvillo and his wife Neda are among the missing.

Prominent lawyer’s haunting post before superyacht tragedy

The Clifford Chance legal partner was aboard tech tycoon Mike Lynch’s boat to celebrate their marathon courtroom victory when it sank off the coast of Sicily.

  • Kate Beioley, Caroline Binham and Brooke Masters
The Reserve Bank of New Zealand should keep competition in mind when enforcing prudential policy.

New Zealand regulator lambasts banks for ‘sporadic’ competition

The NZ Commerce Commission called for open banking to be “fully operational” within two years and for the government to invest more capital into its Kiwibank.

  • James Eyers
Country Road Group is the latest major retailer to close its stores in the wake of coronavirus.

Ex-Levi Strauss executive to run Country Road brand

Just weeks after Elle Roseby left the Australian retailer, chief executive Raju Vuppalapati has appointed a former Levi’s colleague to head the fashion label.

  • Carrie LaFrenz and Jonathan Shapiro
The a2 Milk Company CEO David Bortolussi has warned that the China market remains challenging.

Booming Chinese demand not enough to stave off a2 Milk share slump

The company has warned revenues will grow far below the pace expected by investors this year after challenges finding product for the lucrative export market.

  • Updated
  • Carrie LaFrenz

Original URL: https://www.afr.com/topic/new-zealand-djw