Victoria Young

Auckland

Editor at BusinessDesk

Editor at @businessdesk_nz based in Auckland.

Articles

FNZ employee shareholders told success more likely as action stalls

3 weeks ago | businessdesk.co.nz | Victoria Young

FNZ employee shareholders have been advised that their minority oppression claim has even more merit, despite it not yet being filed. Longstanding workers at the Wellington-based fintech said they planned to file an action against their employer in May, but it has not yet reached the High Court.
King's Birthday Honours 2025: Mark Cooper - a judge knighted

3 weeks ago | businessdesk.co.nz | Victoria Young

“We are going to have a party,” the newly knighted Mark Cooper told BusinessDesk ahead of today’s King's Birthday Honours announcement. “We’ve invented an excuse for a small party, which is not [the knighthood].”Cooper is one of three knights celebrating making this year’s King’s Birthday Honours list and the most recent judge to take the top honour since Justice Stephen Kos.“This is a very significant thing,” remarked Cooper, “it’s an indication that my long judicial c...
Australia standout in Mainfreight’s 'satisfactory' result

1 month ago | businessdesk.co.nz | Victoria Young

Mainfreight has skewed investment toward its Australian division, which was a bright spot in a "satisfactory" year for the company.Mainfreight said profit before tax declined 3% to $383.6 million in the 12 months to March 31.
Mainzeal liquidators seek $4.1m more from QBE Insurance

1 month ago | businessdesk.co.nz | Victoria Young

The liquidators of Mainzeal say insurers for former Prime Minister Jenny Shipley and other directors at the construction firm need to pay another $4.14 million in cover.QBE Insurance – the directors and officers liability insurer for Mainzeal’s directors – has already paid almost $20m, but liquidators say more is due.
Cinema bottom lines hit by tough conditions

1 month ago | businessdesk.co.nz | Victoria Young

Major cinema chains operating in New Zealand have posted poor annual results, reflecting poor consumer sentiment at the time.
Euro Corporation earnings crash as demand contracts

1 month ago | businessdesk.co.nz | Victoria Young

Steel company Euro Corporation’s owner said its full-year earnings before interest, tax, depreciation, and amortisation fell by about half. The privately held company is not required to report publicly, but a leaked report from majority owner Maui Capital said challenging market conditions continued for the 12 months to March 2025.Abbreviated financial statements for the year ended March 2024 showed total revenue at $235.9 million, up from $284.88m in the 12 months prior.
NZSA weighs in on FNZ shareholder issue

1 month ago | businessdesk.co.nz | Victoria Young

New Zealand Shareholders Association chief executive Oliver Mander says the pending lawsuit against fintech FNZ is a reminder to minority shareholders to be clear about their rights. “The key point is if you are an employee shareholder, it might feel really good to be offered shares, but you have to understand what you are being offered.”FNZ declined to comment on the class action, which is expected to be filed next month by employee shareholders.
Inside Service Foods' mega-growth: From corner store to $500m

2 months ago | businessdesk.co.nz | Victoria Young

Aneil Balar was 4 years old when he started behind the counter of his parents’ corner store.Fast-forward more than 30 years and Balar and his family have grown that business to a $500 million revenue company, Service Foods.It’s likely one of the biggest firms you’ve never heard of, dubbed a “supermarket for businesses” as it sells wholesale and goes largely unnoticed, delivering in the wee hours of the morning to mostly restaurants and caterers.
My Net Worth: Marc Mitchell, investor and new NZ Breakers owner

2 months ago | businessdesk.co.nz | Victoria Young

Marc Mitchell recently bought the New Zealand Breakers basketball franchise with an investment consortium. He is married, and they have three children.I’m from Los Angeles. I grew up there and went to university at Stanford, where I met my wife, who is a dual citizen of the US and New Zealand.Her family is originally from Lower Hutt, but she grew up in San Francisco.
My Net Worth, Marc Mitchell, investor and new NZ Breakers owner

2 months ago | businessdesk.co.nz | Victoria Young

Marc Mitchell recently bought the New Zealand Breakers basketball franchise with an investment consortium. He is married, and they have three children.I’m from Los Angeles. I grew up there and went to university at Stanford, where I met my wife, who is a dual citizen of the US and New Zealand.Her family is originally from Lower Hutt, but she grew up in San Francisco.