Watson’s ‘right-hand man’ fails in counterclaims bid in looming US$101m fraud trial
Entrepreneur Owen Glenn’s successful case against fallen tycoon Eric Watson, marred by a still unpaid $50 million award following a London fraud trial in 2018, is about to get another airing.

Watson again has star billing in a trial, this time in a US$101m (NZ$170m) fraud case alongside 14 defendants, including Watson’s son Sam, who is chief executive of A … ⌘ Read more

Steven Spielberg’s $600M Sci-Fi Movie Hits HBO Max Today
HBO Max subscribers can now watch one of director Steven Spielberg’s popular sci-fi action movies. During its theatrical run, the 2018 film became a box office hit, grossing over $607 million worldwide. What Steven Spielberg movie is now on HBO Max? As of today, Spielberg’s 2018 film adaptation of Ready Player One is now officially […]

The post [Steven Spielberg’s $600M Sci-Fi Movie Hits HBO Max Today](https: … ⌘ Read more

Lionsgate Sued Over Alleged Theft of John Wick Story Idea — Report
A shocking new lawsuit has been filed against Lionsgate and several parties associated with the John Wick franchise. According to a new report, screenwriter J.R. Wicker alleges that the blockbuster action film incorporated material from a screenplay he wrote prior to the release of the movie. The complaint seeks at least $10 million in profits […]

The post [Lionsgate Sued Over Alleged Theft of John Wic … ⌘ Read more

Les élections législatives en Éthiopie entachées par le conflit au Tigré
Alors que des millions de citoyens et de citoyennes ont voté lundi 1er juin, sous la contrainte ou par conviction, des millions d’autres, de la région septentrionale, ont été privés de leur droit civique. ⌘ Read more

Le site d’ultra fast fashion Shein écope de plus de 22 millions d’euros d’amendes
La Répression des fraudes sanctionne des défaillances en matière de traçabilité des produits, de mentions environnementales, de délais de rétraction et de livraison. ⌘ Read more

Trump Administration to Dismantle Ocean Monitoring System
The Trump administration is moving to dismantle the National Science Foundation’s $368 million Ocean Observatories Initiative, a network of more than 900 deep-sea instruments used to monitor ocean currents, marine ecosystems, carbon absorption, heat waves, fisheries, coastal flooding, and climate change. The NSF said it would send ships in June to begin the re … ⌘ Read more

Rio Tinto’s NZ aluminium arm posts $176m profit
Rio Tinto’s New Zealand aluminium business remained strongly profitable in 2025, with parent company Pacific Aluminium posting a $176 million profit as sales revenue rose to $1.49 billion and production increased at Tiwai Pt.

Pacific Aluminium (New Zealand), which owns 100% of New Zealand Aluminium Smelters (NZAS), reported pre-tax profit of $246m for the year ended Dec 31, 2025. ⌘ Read more

What the SpaceX IPO means for Rocket Lab
When Elon Musk finally pulls the trigger on a SpaceX initial public offering, which could happen as soon as June 12, it will likely be the biggest public listing in history.

Retail investors will pile in, institutions will scramble for allocation, and the Nasdaq will briefly look like a launchpad, with millions watching its ticker from around the world, just as they regularly tune in to watch Starship rockets blasting off. ⌘ Read more

Tanks for 90 million-litre diesel buffer ready, first shipment en route
Channel Infrastructure says additional tanks to store around 93 million litres of diesel will be ready this week, in time for the first delivery of the back-up supply bought by the Government.

The first of two shipments for [the additional diesel reserve](https://businessdesk.co.nz/article/fuel-fallout/govt-contracts-z-energy-to-provide-90-million-litres-of-extra-diesel-supply … ⌘ Read more

Google Requests Permission to Release 32 Million Mosquitoes In California and Florida
Google has asked the EPA for permission to release up to 32 million sterile male mosquitoes in California and Florida over two years. The effort is part of the company’s Debug program, which uses Wolbachia-infected males to reduce populations of disease-spreading Aedes aegypti mosquitoes. Google cites a si … ⌘ Read more

Meet the Accidental Editor in Chief of Muslim Media
Ameer Al-Khatahtbeh was just trying to find an outlet for Muslim news. Now he has more than 12 million followers. ⌘ Read more

Texas Adds Another Huge Solar Farm As ERCOT Grid Demand Soars
Texas is adding another large solar project as ERCOT electricity demand rises. According to Electrek, Vesper Energy has secured $236 million in financing for its 201 MW Nazareth Solar farm in Swisher County, which will be capable of generating enough electricity for about 53,000 homes. The project is expected to begin construction in June 2026 and … ⌘ Read more

Class-action lawyer critical of ANZ NZ’s move to appeal CCCFA ruling
Law firm Russell van Hout says it is disappointed that ANZ New Zealand is appealing a High Court ruling on a potentially $125 million class-action lawsuit centred on the bank’s alleged breaches of consumer-protection legislation.

“We say ANZ [NZ] should have accepted the Court’s decision and resolved this matter for the customers affected,” Scott Russell, a lawyer leading the class actio … ⌘ Read more

Green Cross sells The Doctors to Tend Health in $270m iwi-backed deal
Tend Health co-founder Cecilia Robinson says the firm is delighted to keep NZ’s largest primary health care provider in NZ hands.

On Tuesday Tend Health announced an iwi-backed $270 million acquisition of The Doctors from NZX-listed [Green Cross Health.](https://businessdesk.co.nz/article/markets/green-cross-health-tamaki-health-group-why-private-equity-has-an-enduring-appetite-for-healt … ⌘ Read more

Heartland Group, TSB Bank propose $620m merger
Heartland Group Holdings has signed a $620 million agreement to merge its Heartland Bank with TSB Bank, creating a challenger bank with a regional focus.

The proposed new bank would be known as TSB Heartland Bank, and Heartland said it would increase banking competition and choice for New Zealanders. ⌘ Read more

5 million berries is a steal for Nami’s boobs(klopsiak)[One Piece] ⌘ Read more

Cybersecurity startup Blacklock aims to raise $5m for new AI software spinoff
Wellington-based cybersecurity startup Blacklock is separating its software development operations into a new company and is planning a US$3 million (NZ$5m) capital raise to develop and scale its products.

Blacklock was set up to streamline and automate services, including penetration testing, also known as white-hat hacking. The new spinoff company is known as Cyra. ⌘ Read more

Hotel boss owes $69m over property tied to Auckland bar murder
A hotelier and property magnate owes almost $70 million to lenders over a property that was the scene of a grisly murder.

IPG Securities director Sunil Govind Parbhu, also known as Dennis Parbhu, owes approximately $69.1m to creditors, according to the receiver’s reports. ⌘ Read more

Botnet of More Than 17 Million Devices Dismantled
An anonymous reader quotes a report from Ars Technica: Authorities in the Netherlands said they dismantled a botnet that comprised more than 17 million devices and were managed by 200 servers in a joint operation by the police and the National Cyber Security Center. The action, announced Thursday, came about after a security researcher reported the sprawling network to authorit … ⌘ Read more

Colombie: une extrême droite conquérante crée la surprise au premier tour de la présidentielle
Le candidat d’extrême droite Abelardo de la Espriella est arrivé en tête du premier tour de la présidentielle colombienne avec plus de 10 millions de voix. Il affrontera le 21 juin son rival de gauche, Iván Cepeda, et a d’ores et déjà reçu le soutien de la concurrente de droite, arrivée en troisième position. ⌘ Read more

Une enquête judiciaire pour le blanchiment de 500 millions d’euros vise la société de paiements Wise
Un an après notre enquête «Dirty Payments» sur le groupe français Worldline, «Mediapart» et l’EIC révèlent que la plateforme britannique Wise est poursuivie en Belgique pour blanchiment, en lien avec des centaines d’affaires criminelles instruites en France et en Europe. ⌘ Read more

Atherton spent $145K to delay train electrification. The rest of us paid $400M
Article URL: https://peninsulaforeveryone.org/blog/atherton-spent-145k-to-delay-caltrain-electrification-the-rest-of-us-paid-400-million-and-waited-3-extra-years/

Comments URL: [https://news … ⌘ Read more

„Muss um jede Million gerungen werden“
Finanzminister Markus Marterbauer (SPÖ) hat am Samstag bekanntgegeben, dass die Verhandlungen für das Doppelbudget 2027/2028 abgeschlossen sind. Das Budgetbegleitgesetz, mit dem ein guter Teil der Einsparungen auf den Weg gebracht werden soll, steht aber noch nicht. Das sei auf den ersten Blick überraschend, zeige aber, dass bis zur letzten Minute verhandelt wird, sagte Fiskalratschef Christoph Badelt in der ORF-„Pressestunde“ am Sonntag. Bei dem Budget „muss um jede Million gerungen werden“. ⌘ Read more

**Présidentielle en Colombie: un premier tour sous haute surveillance **
Quelque 41 millions de Colombiens doivent désigner le successeur de Gustavo Petro, le premier président de gauche du pays. Dans un contexte de recrudescence des violences, l’armée a été déployée pour permettre au scrutin de se dérouler dans le calme. ⌘ Read more

‘Here to stay’: The numbers behind the NFL’s major Australian gamble
With 8.8 million local fans and a confidential cheque from Victorian taxpayers, American football is taking on the AFL and NRL. ⌘ Read more

Millions of Bees Have Thrived Under a New York Cemetery for More Than a Century
A walk in the cemetery led to Cornell researchers discovering an underground colony of bees with an estimated population of 5.5 million—one of the largest ever recorded. ⌘ Read more

Millions of Bees Have Thrived Under a New York Cemetery for More Than a Century
A walk in the cemetery led to Cornell researchers discovering an underground colony of bees with an estimated population of 5.5 million—one of the largest ever recorded. ⌘ Read more

Space startup raises funds for laser satellite communications
By Loren Grush

Observable Space raised US$90 million (NZ$151.7m) in its debut funding round as the company seeks to use lasers to help satellites and potentially orbiting datacentres move information to and from Earth. ⌘ Read more

FBI Arrests CIA Official With $40 Million In Gold Bars In His Home
A senior CIA official, David Rush, was arrested after investigators found more than $40 million in gold bars and about $2 million in cash at his Virginia home. According to the New York Times, “The only charge lodged against David Rush is that he inflated his academic credentials and obtained military leave pay worth tens of thousands of dollar … ⌘ Read more

ANZ NZ appeals High Court ruling in CCCFA class action
ANZ Bank New Zealand is appealing a High Court judgment against the bank in May in relation to alleged breaches of consumer protection law.

The bank estimates that its maximum potential liability across all class-action members arising from this decision is likely to be about $125 million. ⌘ Read more

‘We’re really proud’: TradeWindow targets WiseTech
TradeWindow’s management is confident the trade software minnow is on the path toward breaking even, as it goes head-to-head with its larger Australian rival, WiseTech Global.

The dual-listed company, which counts some of New Zealand’s biggest exporters, including Silver Fern Farms, Zespri and Sealord, among its customers, reported a net after-tax loss of $2.6 million in the financial year ended March 31. ⌘ Read more

Tāiko Critical Minerals posts $8.7m full year loss ahead of planned 2028 mining start
Tāiko Critical Minerals reported a net loss of $8.7 million as it continues work on a planned West Coast mining project north of Greymouth.

The company, which was listed on the New Zealand Exchange (NZX) in March this year, released its preliminary unaudited results for March 31, 2026, on May 29. ⌘ Read more

Housing sector pleased with Budget initiatives to encourage growth
The residential property sector is welcoming announcements in the Budget to further boost housing growth.

The Government has allocated $400 million to a fund that will return development levies to councils, encouraging them to invest in the infrastructure needed for more housing. ⌘ Read more

Startups win, science funding static in Budget 2026
Startup entrepreneurs had some good news in Budget 2026, while scientists were largely treading water amid major sector reforms.

According to the NZ Association of Scientists (NZAS), funding for NZ’s science and innovation system was about $30 million higher in 2026 than last year and was tracking slightly below inflation. ⌘ Read more

DOJ Charges Google Employee With $1.2 Million Polymarket Bet On Search Term
An anonymous reader quotes a report from CNBC: Federal prosecutors charged a Google employee with fraud on Wednesday, alleging that he made $1.2 million off of bets using insider information on Polymarket. Prosecutors claim that Michele Spagnuolo, a staff information security engineer at Google, used confidential information to … ⌘ Read more

Budget 2026: Banks face $209m prudential levy over four years
The Government is introducing a new prudential levy on banks and other financial market players that will bring in $209 million over the next four years to help cover the cost of Reserve Bank of New Zealand red tape.

The levy would be on banks, non-bank deposit takers, insurers and some other financial institutions. ⌘ Read more

Budget 2026: Govt pumps extra $15m into IRD tax debt crackdown
The Inland Revenue Department’s tax crackdown is set to continue after a $15 million top-up for debt compliance, but experts are questioning the department’s “one-size-fits-all” approach to liquidating businesses.

The Government announced on Thursday that it is investing a further $15m per annum for Inland Revenue (IRD) debt compliance activities in its [Budget 2026](https://businessdesk.co.nz/arti … ⌘ Read more

Du Val statutory management costs $4.12m
The statutory management of failed property group Du Val has cost the Government $4.12 million to date, Budget documents show.

In August 2024, the Government placed 70 Du Val entities into the rarely used regime amid an ongoing investigation by the Financial Markets Authority (FMA). ⌘ Read more

‘Serious and unacceptable’: RBNZ moves against The Co-operative Bank
The Reserve Bank of New Zealand has filed civil proceedings in the High Court against The Co-operative Bank over core-requirement breaches of laws to stop money laundering and the financing of terrorism.

The parties jointly recommended a $1.425 million penalty for The Co-operative Bank to the court, the Reserve Bank (RBNZ) said in a statement. The court would decide the final penalty. ⌘ Read more

Stride Property Group lifts annual profit to $31.3m, confirms 8c dividend
Stride Property Group posted an improved full-year profit in a period it describes as one of strategic progress, during which it paid an 8-cent-per-share combined cash dividend.

Its full-year profit after tax was $31.3 million, up $9.6m from $21.7m in FY25. Net rental income was $58.9m, down from $69.1m. Management fee income was $22.9m, from $20.4m. ⌘ Read more

Google Security Engineer Arrested in Million-Dollar Polymarket Trading Scheme
According to federal prosecutors, Michele Spagnuolo made more than $1 million on the prediction market platform using confidential information about Google Search traffic. ⌘ Read more

Lobby firm Silvereye files lawsuit against Gillies Group over $3.49m demand
Wellington lobby firm Silvereye has filed a fresh lawsuit against property developer Gillies Group over a claimed $3.49 million success fee related to a Kāinga Ora deal.

Silvereye, headed by Jo Coughlan and Conor English, has continued to pursue the million-dollar fee after the High Court in Wellington [set aside a statutory demand](https://businessdesk.co.nz/article/po … ⌘ Read more

Straker updates on ongoing fraud investigation
Straker has provided an update on its ongoing investigation into transaction anomalies involving the bank accounts of its US subsidiary, Straker Translations.

The Auckland translation technology company, Straker, was suspended from trading on the Australian Securities Exchange after discovering suspected fraud at its United States subsidiary involving at least US$1.5 million (NZ$2.5m) and possibly more. ⌘ Read more

The $180m payday that ‘meme king’ didn’t share with most staff
He’s the face of the viral “co-founder Albo” campaign. He’s also the founder whose $180 million exit handed a payday to a tiny circle while other staff were kept in the dark. ⌘ Read more

Director of failed Teak Construction flogging off gear
A director of collapsed Teak Construction is selling cars and building equipment on Trade Me as the liquidation of the failed group continues.

Teak’s shareholders put the Auckland construction business into liquidation in March owing subcontractors at least $3.2 million. ⌘ Read more

Les millions de Laurent Wauquiez pour son «mini Puy du Fou» finissent au tribunal
Le tribunal administratif de Lyon vient de donner raison à la région Auvergne-Rhône-Alpes, qui a refusé de payer le reste d’une subvention accordée à Vianney d’Alançon pour développer son château de Haute-Loire. Le projet a déjà reçu 2 millions d’euros de la part de la collectivité. ⌘ Read more

Straker suspended after suspected US employee fraud
Auckland translation technology company Straker has been suspended from trading on the Australian Securities Exchange after discovering suspected fraud at its United States subsidiary involving at least US$1.5 million (NZ$2.5m) and possibly more.

Straker requested the voluntary suspension on Tuesday, saying it had identified transactions totalling approximately US$1.5m that it was confident had been misappropriated … ⌘ Read more

EB Games reports $11.4m loss for NZ business as it winds down
Gaming and pop-culture retailer EB Games has released its latest financial report detailing the New Zealand arm’s demise, with the business reporting an $11.4 million loss for its last financial year.

EB Games announced it would be shutting down its New Zealand business and closing all its stores in January. ⌘ Read more

NZ King Salmon scales up after positive half
NZ King Salmon Investments has told investors that the fish firm is recovering on all fronts and that US tariffs are not slowing sales.

The company said net profit after tax for the six months to March 31 was $13.8 million. This compares with a net loss of $20.8m in the prior corresponding period to July 31, 2025. The … ⌘ Read more

Ferrari-driving failed firm owner owes $4m, faces probe
An Auckland businessman who goes by multiple aliases is under investigation for director conduct, as customers report paying for goods they never received from a company that owes $4 million to creditors.

BusinessDesk can reveal the Ministry of Business, Innovation & Employment (MBIE) has two open investigations into Laurence Robert Pope, who also uses the alias, Max Bailey. ⌘ Read more