Fletcher the 'useless monopoly needs to be busted'

Fletcher the 'useless monopoly needs to be busted'
An investment banker told BusinessDesk that a full takeover of Fletcher would be hard to pull off. (Image: Getty)
Rebecca Stevenson
Fletcher Building has been labelled New Zealand’s most useless company and a monopoly that needs to be busted. Auckland University economics professor Robert MacCulloch said Fletcher Building could be the only monopoly in the world that can’t make a buck after the firm announced a $120 million loss in the six months to December 2023. MacCulloch said it was time to break up Fletcher Building and “end the dubious Fletcher legacy on this country”.On Tuesday, Simplicity founder Sam Stubbs said the firm would be mor...

More Markets

NZ sharemarket up 0.5% ahead of long weekend
Markets Market Close

NZ sharemarket up 0.5% ahead of long weekend

Pacific Edge's share price fell 7.32%.

Tom Raynel 24 Apr 2025
Pacific Edge suffers another setback in US
Markets

Pacific Edge suffers another setback in US

Shares in cancer diagnostics company Pacific Edge are down 2.44% to $0.120 after another setback in the US market.The US District Court for the Middle District of Pennsylvania has determined that it does not have jurisdiction to review a Local Coverage Determination (LCD) that co...

Staff reporters 24 Apr 2025
Listed retailers stand to gain from Trump tariffs:  Forsyth Barr
Retail

Listed retailers stand to gain from Trump tariffs: Forsyth Barr

Forsyth Barr lifted its KMD Brands target price by 10.4% after Trump tariff walkbacks.

Gregor Thompson 24 Apr 2025
NZ sharemarket rises as Trump backs down
Markets Market Close

NZ sharemarket rises as Trump backs down

The S&P/NZX 50 Index closed up 1.01% or 119.78 points.

Tom Raynel 23 Apr 2025