Brown proposes partial airport share sale

Brown proposes partial airport share sale
Wayne Brown: pushes up rates hike to 7.7%. (Image: Council meeting)
Staff reporters
Auckland mayor Wayne Brown has backed down on the proposed sale of the Auckland council's entire stake in Auckland International Airport (AIA) and is now proposing to sell 8.09% of its 18.09% holding, enabling it to pay a billion dollars off the council's debt bill. That, he told city councillors at today's budgetary governing body meeting, would still leave $32 million in savings to be found. The shortfall would be made up by an average rates hike of 7.7% for Auckland property owners, which was 1% above inflation.Brown...

More Finance

Officials MIA on banking competition, say critics
Finance

Officials MIA on banking competition, say critics

Over-regulation of the banking sector is blamed for stifling competition.

Pattrick Smellie 20 Feb 2025
Heartland declares $49.6m impairment in NZ business
Finance

Heartland declares $49.6m impairment in NZ business

Heartland Group shares fell 12% in early trading.

Gregor Thompson 18 Feb 2025
Big banks scrubbing public mentions of DEI
Finance

Big banks scrubbing public mentions of DEI

Citigroup and others seek to avoid possible litigation and federal probes.

Toy entrepreneur quashes spec of NZME takeover
Finance

Toy entrepreneur quashes spec of NZME takeover

Zuru founder Nick Mowbray says a report speculating he could take over private media company NZME is wrong. On Friday morning, The Australian’s Data Room said “some wealthy Kiwis” were plotting to do something about the state of New Zealand’s media industry and cited Mowbray as a...

Victoria Young 14 Feb 2025