National Business Review
October 2025
Mixed week for Magnificent 7, but concentration continues
The Mag 7 makes up more than a third of the value of the S&P 500, with chip maker Nvidia this week becoming the world’s first US$5 trillion ($8.7tr) company by market capitalisation
NZ Rugby shouldn’t copy American sports, Richie McCaw says
Fonterra farmers approve $4.2b Lactalis deal
Chicago to be one of NZ Rugby’s most lucrative match days ever
All Black attack, Mr Walrus-Titty, Bris-goes vinyl
Labour’s capital gains tax policy makes a small target
Michael Hill’s $25m superyacht heads to market
Labour’s capital gains tax is simpler but still has complexities
PMG launches $25m equity raise, doubles down on ECE
Stocks rally on potential US-China pact; Trump coy on third term
I have a lot of respect for President Xi, and we are going to come away with the deal,
I think we’ve reached a substantial framework for the two leaders who will meet next Thursday … that tariffs will be averted,
Argentines showed that they don’t want to return to the model of failure,
I haven’t really thought about it. But I have the best poll numbers that I’ve ever had.”
Wall Street tracks higher on company earnings beats
While we face near-term uncertainty from shifting trade, tariff, and fiscal policy, we are focused on long-term growth and value creation,
The updates we’ve had this week haven’t really provided the boost that perhaps many investors would like to see — they’ve continued with this theme of ‘things aren’t getting worse, but we’re still pretty cautious’,
NZ Super still confident in Rockit’s value
New Zealand’s sovereign wealth fund is taking a bet on miniature apple brand Rockit
The Treasury must operate differently in a fast-changing world
Govt to lift climate reporting thresholds, remove liabilities
Albanese gets a big welcome and survives the Trump test
Allied Farmers livestock trading exit ‘a long time coming’
It took almost two years to get the sale of Allied Farmers’ livestock trading business across the line, in a deal that ends more than a century’s involvement in the trade
Solving Queenstown’s infrastructure challenges as tourism grows
Newly elected Queenstown mayor John Glover has big job ahead if he wants to reduce the resort town’s congestion, improve infrastructure, and make rental housing more readily available
Sam Altman the kingmaker in too-big-to-fail AI era
But, in the fast-evolving landscape of artificial intelligence, the title kingmaker has now been bestowed upon another
Air New Zealand tests first battery-powered aircraft at Tauranga
Te Pāti Māori, wear a tie, local democracy, industrial action
Yet at the end of this week, the party is in more turmoil than ever, after its hierarchy released a load of damaging information about its Te Tai Tokerau MP Mariameno
US central bank shifts from ‘patience to panic’
When policy lags, volatility rises. Investors want clarity and consistency. Right now, they’re getting neither,
Maker Partners left $683k out of pocket by failed Huntaway
Bolger, delayed Du Val, frosty Neals, Simpsonillionaire
A colleague recalls twice seeing Bolger on the Kāpiti line