AGP Executive Report
Last update: 5 hours agoMeridian Energy: Meridian has appointed Fraser Whineray as a non-executive director from 28 September, adding governance depth from roles including Mercury CEO and Fonterra COO. Wages & inflation: Employment Hero says NZ wage growth slipped to -0.1% month-on-month and -0.4% year-on-year in July, widening the real cost-of-living squeeze. Prices: Stats NZ reports food inflation eased to 1.9% year-on-year in July, while power and gas keep climbing; fuel prices fell again. Retail demand: Retail NZ says July electronic card spending lifted 3.5% year-on-year, with gains in durables and hospitality. A2 Milk: a2 Milk’s full-year profit fell 44% after China-label infant formula supply disruptions pushed customers to rivals; stock availability is improving and China recovery is expected through 2027. Housing policy: Housing and Infrastructure Minister Chris Bishop says there’s no legal way to pause fast-track housing approvals, rejecting mayor calls for an immediate halt. Property market: Resale data shows more homes are selling at a loss, with loss-making sales rising to 13.1% in the latest quarter. Construction: Fletcher Building commentary points to ongoing input-cost uncertainty and delays, even as concrete production improves. Business & media: oOh!media reported subdued ad-market conditions but expects strengthening into December, with private equity I Squared backing its $1.04b takeover. Tech sector: A new report estimates NZ’s venture-backed enterprise value at NZ$133b, including Rocket Lab and FNZ as top standouts.
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