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Photo: Getty Images Synlait's two biggest shareholders will be able to vote on a $218-million rescue package they are bankrolling at next week's special meeting. Market regulator RegCo dismissed a complaint brought by former chief executive and board member John Penno aiming to prevent the big two shareholders, A2 Milk and Bright Dairy, from voting on the bail-out package. In a statement, Synlait said the support of all shareholders remained essential to safeguard the future of Synlait, and all shareholders were encouraged to exercise their right to vote at the special meeting, schedule for 18 September. Penno brought the action, calling the bail out package a sweetheart deal for Bright Dairy and a2 Milk. The proposed package would give Synlait capital to paid down debt and refinance its...

An apartment in this building on Remuera Road was sold in 2024 for $1 million less than the seller paid for it in 2018. Photo: Supplied / Google Maps An Auckland property that sold for $300,000 less than the owner paid for it two years ago might have made the news this week - but it is far from the biggest loss sustained by a seller this year. The Māngere East property sold at mortgagee sale for $490,000 but last changed hands for $750,000 in March 2022. But Nick Goodall, the head of research at property value firm CoreLogic, said the biggest loss recorded so far this year was for a Remuera apartment, which sold for $1 million less than it had previously been bought for. It was sold for $5.5m on 12 April, after being bought for $6.5m in March 2018. Goodall said it was a higher-end apart...

Photo: 123RF How does your KiwiSaver balance compare others your age? The retirement savings scheme has become a key part of many New Zealanders' financial lives since it was launched in 2007. There is now about $110.8 billion invested in the scheme. The average balance is $31,828, although that is affected by the large number of people who do not contribute to the scheme. Milford said its average balance was about $79,000. Data from actuaries Melville Jessup Weaver for December 2023 shows that balances generally increased as people became older. Under 17-year-olds had an average balance of $2869. People aged 18 to 25 had an average of $8867. For those aged 26 to 30, the average increased to $17,326. People aged 31 to 35 had an average of $21,096. Those 36 to 40 had an average of $26,829...