RNZ reports that three South Island Māori rūnanga have agreed to bid jointly with a global port operator for Lyttelton Port, the largest container facility in the southern half of New Zealand. The consortium is emerging as a strong contender as Christchurch City prepares to sell down a minority stake.
CS Energy, the Queensland state-owned operator of the Callide coal-fired power station, is facing a class action seeking more than A$1 billion in damages over the 2021 Unit C4 explosion and subsequent prolonged outages. The plaintiffs include insurers and downstream electricity retailers.
New Zealand's ruling National Party reform of the KiwiSaver retirement scheme is prompting concern that small employers may face higher costs. The proposed package reportedly raises the employer contribution and would end "total remuneration" pay structures. Unions and employer groups are taking divergent positions.
Australia has signed its largest-ever defence export deal with Canada, which will buy a powerful radar system adapted from Australia's over-the-horizon system to monitor the Arctic. The deal is valued in the billion-Australian-dollar range. It is part of Canada's accelerated northern-flank defence investment programme.
The European Union's plan to expand its Carbon Border Adjustment Mechanism (CBAM) to manufactured goods containing iron, steel and aluminium will affect New Zealand's $1.2 billion exports to the EU. NZ Steel and Rio Tinto's Tiwai Point aluminium smelter are the most affected producers. The NZ government is engaged in consultations with the EU.
The Australian Federal Police (AFP) and NSW Police seized 2.7 tonnes of cocaine in an elaborate underground bunker system on a semi-rural property in Londonderry, western Sydney. The estimated street value is around $816 million. The operation is the largest single cocaine seizure in Australian history.
David Walsh, owner of Tasmania's Mona museum, has officially opened a $100 million underground library named Phrontisterion. According to ABC News Australia, the collection includes rare manuscripts and ancient literary treasures, and the project stands out for Australia's private cultural-investment profile.
China, New Zealand's largest export market, has put growing emphasis on increasing domestic food-production capacity. According to RNZ Business, experts say New Zealand retains a competitive advantage in premium dairy and food categories despite the shift.
Liberal Party member and education think-tank director Colleen Harkin has resigned from Australia's Liberal Party after attending a One Nation fundraiser in Melbourne. ABC reports the move marks a new phase of internal tensions in the main opposition party.
According to Cotality, Australia's auction clearance rates have fallen to their lowest level since the early days of the Covid pandemic. ABC reports sellers are facing disappointing outcomes, with analysts forecasting « a further loss of momentum » in the housing market.