Best of BusinessDesk: The ultra-high net worth investor spending big down under

Best of BusinessDesk: The ultra-high net worth investor spending big down under
Hans Albrecht with wife Ursula visits Waiheke's Man O'War winery. (Image: Hans Albrecht)
Victoria Young
This story by Victoria Young, originally published in May, about Hans Albrecht arriving in New Zealand was a popular read this year. Mega-rich investor Hans Albrecht arrived in New Zealand quite by accident. In 2020, the businessman, who founded the Carlyle Group in Europe, was meant to visit Australia to sail his classic yacht, the Nordwind. However, a few days before he was to leave, it was discovered his other boat was too long to dock in Sydney. So, he decided to visit Great Barrier Island instead. Shortly after, Aotearoa went int...

More Economy

Slight inflation lift won't stop rate cuts thanks to trade war
Economy

Slight inflation lift won't stop rate cuts thanks to trade war

Most economists expect annual inflation lifted to 2.4% in 1Q.

TTR files fast-track application to mine Taranaki sand
Primary Sector

TTR files fast-track application to mine Taranaki sand

Seabed mining firm Trans-Tasman Resources has lodged its application to fast-track its project to harvest iron sands off the coast of Taranaki. The firm's parent company, Manuka Resources, told the Australian Securities Exchange (NZX) on Wednesday that the application was lod...

Staff reporters 16 Apr 2025
ANZ Bank economists expect OCR to go to 2.5%
Economy

ANZ Bank economists expect OCR to go to 2.5%

ANZ economists now expect the Reserve Bank of New Zealand will have to cut the official cash rate to 2.5% as the economic recovery progresses at a slower-than-expected pace.They had previously forecast that the Reserve Bank of NZ (RBNZ) would pause at 3%. The rate is currently si...

Staff reporters 16 Apr 2025
RBNZ's funding for op expenses slashed in new agreement
Economy

RBNZ's funding for op expenses slashed in new agreement

The Government and the Reserve Bank of New Zealand board have agreed upon a funding agreement that will reduce budgeted operating expenses for the bank by about 25% in the coming year, Finance Minister Nicola Willis says. “The bank initially sought funding of $1.03 billion for th...

Rebecca Howard 16 Apr 2025