Blog

By Emma Stanford of Photo: AFP A spontaneous weekend away in New Zealand is not as cheap as it once was. Most domestic travellers will have, in the last few years, gone to book flights for a weekend away and been shocked at the price. At the time of writing, flights for two people from Auckland to Christchurch on Friday 16 August, leaving after work at 6pm and returning on Sunday 18 August at 3pm cost $1884. This did not include a checked-in bag, just 7kg of carry-on. Leaving Christchurch at 10am would see the trip cost $1480. The cheapest option was $1020, departing at 6am on Friday, but that would require a day of annual leave or remote work. The most expensive fare option for Jetstar, for the same dates, was $1236 - leaving Auckland at 6.30pm and returning on Sund...

First published on Photo: Kiwibank By Martien Lubberink, associate professor of accounting and capital, Te Herenga Waka Victoria University To sell, or not to sell - that is the question various governments have asked since Kiwibank was established in 2002. Now it's the turn of the current National-led coalition to examine the bank's state ownership. Ministers have asked Kiwibank's board to explore avenues for the bank's expansion, potentially including private sector or Crown entity investment. This comes just two years after the previous Labour government spent NZ$2.1 billion to secure complete ownership of Kiwibank, and is part of the coalition's drive for productivity, growth and public sector efficiency. The latest attempt to help the bank prosper while stayin...

Photo: 123rf The High Court has placed Auckland property investor and developer Du Val Group into interim receivership. The interim orders were made against Du Val Capital Partners, together with a number of entities within the Group - at the request of the government financial regulator, the Financial Markets Authority (FMA). Interim receivership orders were also made against directors Kenyon and Charlotte Clarke. The court also approved the FMA's request for asset preservation orders. The order comes as the FMA carries out an investigation into Du Val Group. The FMA said it would not provide further comment but noted there were about 120 investors in the Du Val entities, marketed as wholesale investments. It said John Fisk, Stephen White and Lara Bennett of PwC have been appointed inte...

Briscoe Group is considering the future of its investment in KMD Brands. Photo: RNZ Retailer Briscoe Group is thinking about the future of its investment in struggling outdoor goods business KMD Brands. Briscoes owns nearly 7 percent of KMD shares and revealed its half-year results would be affected by KMD failing to pay an interim dividend. Last year, Briscoes received $1.4 million in interim dividends from KMD - the owner of outdoor brands Kathmandu, Oboz and Rip Curl. KMD recently announced its second-half sales were down more than 8 percent from a year ago. In an interview with RNZ Business, Rod Duke was asked whether it was worth being invested in KMD Brands. "It's a very good question that we're all in this office pondering over," Duke said. "We're evaluating that every board meet...