FMA to keep tabs on FAPs with ABs Investment News

SkyCity is suing Fletcher Building and Fletcher Construction for $330 million, claiming that the New Zealand International Convention Centre took 10 years to build instead of the contracted three. The lawsuit seeks damages for losses incurred due to ongoing delays, including those stemming from a fire in 2019, with the project now almost six and a half years behind schedule. In response, Fletcher acknowledged the risks associated with the project and stated its commitment to...

President Donald Trump expressed his disappointment in Elon Musk, marking a significant shift in their previously strong alliance during the 2024 campaign. Trump’s criticism follows Musk's departure from the US DOGE Service and his public disapproval of Trump's key legislative initiative, the One Big Beautiful Bill, which Musk suggests might reduce electric vehicle subsidies. This tension highlights the deteriorating relationship between the two influential figures, with Trump questioning the future of their rapport. Full Article

SummaryGovernment minister Chris Bishop faced backlash for labeling Stan Walker's performance at the Aotearoa Music Awards a “load of crap.” In contrast, Wellington Mayor Tory Whanau acknowledged her drinking problem in 2023 following two incidents at a bar. Some have attempted to equate the treatment of both politicians, suggesting double standards, but the author argues that Bishop's comments made at a public event with a beer do not parallel Whanau's serious admission regarding her alcohol...

Te Pāti Māori has strongly criticized a contentious debate resulting in unprecedented penalties for three of its MPs, including co-leaders Rawiri Waititi and Debbie Ngarewa-Packer, who received 21-day suspensions, while Hana-Rāwhiti Maipi-Clarke was suspended for seven days. The debate was marked by disruptions, including heckling and derogatory comments, with Waititi notably brandishing a noose, prompting concerns from the Opposition about setting a dangerous precedent. Previously, the longest parliamentary suspension was three sitting days, making this...

An Auckland entertainer in his 20s, whose name is suppressed, faces serious accusations of raping and grooming a girl he met in a drama group over four years. The alleged offenses occurred in Auckland between January 2017 and January 2021, with police beginning their investigation following a report in September 2024. The man, who has worked internationally and taught child performers, made his first court appearance at the North Shore District Court. Full Article

An investigation is underway following a school trip from Ōpōtiki College that proceeded to a backcountry hut despite a weather warning, leading to a helicopter evacuation due to compromised walking tracks from heavy rain. The Year 12 group, consisting of 11 students, a teacher, and an adult helper, was based at the six-bunk Pakihi Hut in the Urutawa Conservation Area, which offers camping space and is situated along the Pakihi Track. The severe weather caused...