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NZ sharemarket down 0.9% following strong overseas sell-offs
The New Zealand sharemarket, down nearly 1%, followed strong overseas sell-offs, with AI-linked stocks cooling, but it did gain support from Ebos Group and a2 Milk.

The S&P/NZX 50 Index fell sharply at the opening following the plunge on Wall Street over the weekend (NZ time) and closed at 13,038.24, down 123.73 points or 0.94%. ⌘ Read more

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Diesel supplies en route recovering with 27.2 days worth at sea
There are 27.2 days’ worth of diesel headed for New Zealand, the highest stock number for almost three weeks.

Diesel supplies had been steadily declining since May 20, reaching a recent low of 16.5 days’ worth – the lowest recorded diesel supplies at sea bound for New Zealand since the Ministry of Business, Innovation and Employment (MBIE) began its twice-weekly reports on the nation’s fuel sto … ⌘ Read more

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Kernel prepatch 7.1-rc7
The 7.1-rc7 kernel prepatch is out for
testing. Linus said: “Anyway, as things look now this is the last
rc. Something can obviously always come up and force us to change that, but
please give rc7 a whirl and keep testing for one more week.” ⌘ Read more

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Bright Dairy extends $130m loan to Synlait for two years
Bright Dairy’s shareholder loan to Synlait Milk will be pushed out for another two years as the Dunsandel processor looks to refinance by the end of the month.

In the lead-up to its recapitalisation, Bright provided Synlait with a $130 million shareholder loan as it worked to deleverage its balance sheet. ⌘ Read more

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Steel & Tube extends ANZ banking deal amid market headwinds
Steel & Tube Holdings has renewed its banking arrangements with ANZ for a further one-year term until September 2027 on similar terms as it navigates increased headwinds.

“The renewed banking arrangements provide additional financial stability as we continue to execute our strategy with discipline and focus,” chief executive Mark Malpass said. ⌘ Read more

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QuiznessDesk, Monday, June 08
How many kilograms does the average cloud weigh? 250,000, 500,000 or 1 million kilograms?
True or false: Earlobes have no biological purpose.
What has lived longer on Earth, sharks or trees?
True or false: 99.999% of the deep ocean floor has not been explored.
Which European country is considered the happiest place on Earth?
True or false: Most ginger cats are female
What is a rainbow on Venus called? A methane bow, a glory, or a punch dust arc?
What did the Ancient … ⌘ Read more

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School lunch tray recycler faces council action over backlog attracting rats, maggots and flies
Two councils took enforcement action against a company recycling the Government’s school lunch trays after 120 tonnes of expired meals piled up at its Hamilton site, drawing maggots, rodents and a fly infestation.

Neighbouring businesses lodged at least nine formal complaints over a three-month period, according to Hamilton City … ⌘ Read more

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Fieldays 2026: Sunshine, spending and an election
New Zealand’s agricultural sector is making its annual pilgrimage to Mystery Creek this week, with Fieldays’ sites sold out, farm balance sheets in decent shape, and an election looming in the background.

This year’s Fieldays is the first in recent memory to sell out all available exhibitor sites, something the event’s chief executive, Richard Lindroos, puts down to strength in the sector. ⌘ Read more

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Eroad board challenger wants to split company, cut costs
Eroad’s largest shareholder wants to split the company, sell or unwind its North American operations, and reduce headcount if a boardroom challenge succeeds.

Alleging mismanagement of the NZX-listed fleet technology company, New York-based Ampfield Management has put forward a turnaround strategy as part of its attempt to remove Eroad’s executive chairman, John Scott, and another director, and install three of … ⌘ Read more

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NZ launches rare dumping probe into aluminium imports
The Government has launched a rare global safeguard investigation into aluminium extrusion imports after local producers argued that low-priced offshore products were damaging a significant New Zealand manufacturing cluster.

Commerce and Consumer Affairs Minister Cameron Brewer initiated the investigation on May 27 after accepting that an application from the Aluminium Extruders Association of NZ (Alenz) contained reaso … ⌘ Read more

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Laurence Pope’s Wonder Water saved by debt for equity swap
Creditors of another entity run by Laurence Pope have agreed to a debt-for-equity swap in a bid to keep Wonder Water from going under.

Wonder Water, a filtered water system rental company, was placed in voluntary administration on April 15, following an appointment by the secured creditor, CFS Debt Fund. ⌘ Read more

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SBS Bank looks to drive growth, eyes capital efficiency
SBS Bank says it plans to grow its capital-consuming businesses over the short to medium term, underscoring this appetite by indicating an intent to streamline its total capital stack.

“We’re in a good space from a capital perspective,” SBS group chief executive Mark McLean said, noting the Invercargill-headquartered bank’s total capital ratio of 18%. ⌘ Read more

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NZ economy needs more than ‘small incremental steps’
New Zealand Growth Capital Partners is nearly a quarter-century old, an initiative from the first term of Helen Clark’s Government.

NZ Growth Capital Partners (NZGCP) chief executive, James Pinner, has just marked five months in the job. He said the reasons for setting it up were just as relevant in 2026 as in 2002. ⌘ Read more

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