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

No longer 'boutique' Generate is executing, CEO says
Finance

No longer 'boutique' Generate is executing, CEO says

The fund manager is now the seventh-largest KiwiSaver provider.

Gregor Thompson 09 May 2025
ANZ half-year profit surges on non-cash gains
Finance

ANZ half-year profit surges on non-cash gains

Cash earnings were flat, and net interest margin rose slightly.

Pattrick Smellie 08 May 2025
BNZ preserves margins on flat half-year
Finance

BNZ preserves margins on flat half-year

BNZ outranks its Australian cousins for customer preference.

Pattrick Smellie 07 May 2025
Westpac's NZ net interest margin expands again
Finance

Westpac's NZ net interest margin expands again

Net interest margins rose in NZ, but shrank for the group as a whole.

Pattrick Smellie 05 May 2025