Residential and retirement property developer Winton Land has been suspended from the NZX after a board exodus.

Three directors have resigned after founder Chris Meehan quit as CEO in July - among them, former Finance Minister Steven Joyce.

Shareholders Association head, Oliver Mander, says losing independent directors meant the business no longer met requirements for being listed on the exchange. 

"It's definitely not a technicality, it's a pretty core principle for a publicly listed company that exists on the exchange - there should be appropriate representation there."

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Residential and retirement property developer Winton Land has been suspended from the NZX after a board exodus.
Three directors have resigned after founder Chris Meehan quit as CEO in July - among them, former Finance Minister Steven Joyce.
Shareholders Association head, Oliver Mander, says losing independent directors meant the business no longer met requirements for being listed on the exchange.&nbsp;
"It's definitely not a technicality, it's a pretty core principle for a publicly listed company that exists on the exchange - there should be appropriate representation there."
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Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Oliver Mander: NZ Shareholders Association spokesperson on Winton Land's shares being suspended after board resignations

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/382762a7-2369-409f-a54b-b4b7006e7cdc/transcript

New Zealand business confidence fell 2 points in August to 54 from 56 last month - and it's sparked discussion about what this could mean for the OCR.

There's speculation the cash rate could be set for an increase this Wednesday.

Harbour Asset Management's Shane Solly outlined his prediction further ahead of the next update.

LISTEN ABOVE

New Zealand business confidence fell 2 points in August to 54 from 56 last month - and it's sparked discussion about what this could mean for the OCR.
There's speculation the cash rate could be set for an increase this Wednesday.
Harbour Asset Management's Shane Solly outlined his prediction further ahead of the next update.
LISTEN ABOVE

Shane Solly: Harbour Asset Management expert on what a drop in business confidence could mean for the OCR

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/f31bd0e1-c005-40a4-aee6-b4b70084a947/transcript

Jewellery chain Michael Hill is reporting a 376 percent increase in annual statutory net profit from its global business.

New Zealand retail revenue is up 3.1 percent.

CEO Jonathan Waecker says it's a great result that profit has gone up in all three markets, including New Zealand.

"Our offer in New Zealand is resonating really, really strongly, and in Australia, we are seeing some softness with certain consumers - so we're just needing to go to market a little bit differently." 

LISTEN ABOVE

Jewellery chain Michael Hill is reporting a 376 percent increase in annual statutory net profit from its global business.
New Zealand retail revenue is up 3.1 percent.
CEO Jonathan Waecker says it's a great result that profit has gone up in all three markets, including New Zealand.
"Our offer in New Zealand is resonating really, really strongly, and in Australia, we are seeing some softness with certain consumers - so we're just needing to go to market a little bit differently."&nbsp;
LISTEN ABOVE

Jonathan Waecker: Michael Hill CEO on the company's profit jumping 376 percent to A$10m

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/698d33dc-e20b-477b-a495-b4b7007fab09/transcript

The Finance Minister says the Government has made the right move in delaying increase to the fuel tax at this stage.

The excise was due to rise 12-cents a litre next January, but has been delayed to the following year - and will only be five cents.

Nicola Willis says the Government is still on the path to returning to surplus, and they've determined they can fit this in as part of it.

"Ultimately, we've judged that we can fit it and also meet all of our budget responsibility rules in terms of maintaining that path to surplus - ensuring that we're still going to get debt tracking down."

LISTEN ABOVE

The Finance Minister says the Government has made the right move in delaying increase to the fuel tax at this stage.
The excise was due to rise 12-cents a litre next January, but has been delayed to the following year - and will only be five cents.
Nicola Willis says the Government is still on the path to returning to surplus, and they've determined they can fit this in as part of it.
"Ultimately, we've judged that we can fit it and also meet all of our budget responsibility rules in terms of maintaining that path to surplus - ensuring that we're still going to get debt tracking down."
LISTEN ABOVE

Nicola Willis: Finance Minister on the Government delaying increases to the fuel excise tax

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/a1e5db91-b8a8-479c-99f4-b4b700742b00/transcript

Oliver Mander: NZ Shareholders Association spokesperson on Winton Land's shares being suspended after board resignations

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