Tracksuit's Times Square takeover: Global growth figures revealed after $42m raise
'We're more than doubling every year,' Tracksuit co-founder and co-CEO Connor Archbold told Markets with Madison.
'We're starting to crank into
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NZ Herald
3 hours ago
- NZ Herald
Infratil and Ebos help drive NZ stocks higher
Late in the New Zealand trading day, Australia's S&P/ASX 200 was down 43.10 points at 8,666.30. The index has lost 1.04% for the last five days, but sits just 1.25% below its 52-week high. The main influences on the local S&P/NZX50 index were infrastructure investor Infratil, up 26c or 2.3% at $11.45, and medical supplies distributor Ebos, up 41c at $41.17. On the downside, utilities software provider Gentrack dropped by 61c or 5.5% to $10.52 after announcing it had been informed by an Australian customer it was no longer in the frame for replacing the customer's current platform. 'Whilst the financial impact of this does not warrant disclosure, out of caution we are providing this update to our investors,' Gentrack said. Salt Funds managing director Matt Goodson said Gentrack had lost out to its main competitor, Kraken, which is part of Britain's Octopus Energy. 'It should not have come as a shock because it was suspected by some, but the actual confirmation of it has seen the stock fall,' Goodson said. Sky Network TV fell 8c to $3.06 after spiking higher earlier in the week on news it would buy the troubled Discovery NZ for $1. Among the minor issues, takeover target Metro Performance Glass, which has a market cap of $9m, gained 0.3 of a cent to 5c. Competitor Viridian NZ's 8c per share offer for Metro Glass is before the Commerce Commission, which today issued a 'Statement of Issues' relating to the application. 'The commission has identified potential adverse competitive effects arising from a loss of competition between Viridian and Metro in glass processing, supply and installation markets where they are close competitors,' it said. Goodson said the commission 'clearly has issues' with Viridian buying Metro Glass because they are the two major players in glass processing and installation. 'I guess the question then is if Viridian is not allowed, what becomes of Metro Glass, given their debt levels,' Goodson said. Looking ahead, annual meetings on Wednesday for Ryman Healthcare and Mainfreight should give investors some clues as to how the two leading stocks are tracking in the current financial year. Later in the week, second-quarter results from Apple, Amazon and Microsoft – part of America's so-called Magnificent Seven – are due out. In the big picture, the ongoing spat between US President Donald Trump and Federal Reserve chairman Jerome Powell continues to be a concern for the financial markets as investors worry about the US central bank's independence. Jamie Gray is an Auckland-based journalist, covering the financial markets, the primary sector and energy. He joined the Herald in 2011.
NZ Herald
6 hours ago
- NZ Herald
Female drivers will also be able to request female passengers in a pilot programme being rolled out in three US cities
Uber said women riders and drivers across the US have been saying they 'want the option to be matched with other women on trips'. Ride-hailing platforms including Uber have long faced pressure to improve safety for both drivers and riders. Uber disclosed thousands of reports of sexual assault during US rides between 2017 and 2022. Uber and Lyft began sharing information in 2021 on drivers they had deactivated in an effort to improve rider safety. Uber previously rolled out a feature that enables riders and drivers to record audio on trips. These recordings are encrypted and can be accessed by Uber only when an incident is reported. Where will the rides be available? Los Angeles, San Francisco and Detroit are the pilot cities for the new feature, where it will be rolled out 'in the next few weeks', the company said. How can I use the new feature? The new feature lets riders request a female driver when hailing a ride, with the option to switch to all drivers if waiting times are too long or if a female driver is unavailable. They can also prebook a ride with a female driver and change their app settings to indicate they would always prefer to be matched with a female driver. Women drivers will be able to switch their app settings to request only female passengers - including during peak evening hours - and can turn off the feature at any time to accept all ride requests, Uber said. Are there other women-only rideshare apps? There are several smaller rideshare companies that are only for women, such as HERide in Atlanta and Athens, Georgia, and North Carolina-based Just Her Rideshare, which says it has primarily female riders and drivers. Lyft launched a similar feature called Women+ Connect in 2023. Uber has already rolled out the 'Women Preferences' feature in dozens of countries, starting with Saudi Arabia in 2019. 'Most drivers are men, so we've worked to ensure this feature was truly useable in different places around the world,' Uber said in a news release.
NZ Herald
10 hours ago
- NZ Herald
Auckland supermarkets and liquor stores under fire for selling ‘mega strong' beers
Secretary Grant Hewison said the beers essentially represent a loophole, with RTDs being limited to 6% ABV and no more than two standards per beverage. 'We would describe these products as court cases in a can, especially when they reach past 12%.' He said with these beers, essentially one can leave you intoxicated and unable to drive. Hewison said they're more problematic than other high alcohol products like wine or soju as they're carbonated, so they're consumed quickly. He said the products are sold in single 500ml cans for as cheap as $6, which can be easily stowed in a pocket. Maori Warden Thomas Henry says the super strong beers are part of the public drinking problem in South Auckland Photo / Jason Oxenham Auckland District Māori Wardens chair Thomas Henry said high-alcohol products worsened things for people already struggling with homelessness and mental health issues. He said the beers are part of South Auckland's public drinking problem, creating issues such as an Ōtara playground being removed . Henry said they've been trying to educate liquor stores against selling the beers to vulnerable people. He said it's been frustrating, with owners telling him it's not their job, to tell people what to do. New Zealand supermarkets are taking differing approaches to high-strength beers. Photo / NZME, File Foodstuffs said they work closely with their store owners to ensure alcohol is sold responsibly, including regular staff training and robust ID checks. 'We continue to monitor our range carefully, taking into account legal obligations, customer demand, and community feedback,' a spokesperson said. Woolworths said it removed single cans of more than 7% ABV from all stores after consulting with regulatory agencies and community groups, but continues to sell multi-packs of high-strength beers. Brewers Association Executive Director Dylan Firth is calling for a grounded discussion on the products. Photo/Supplied Brewers Association executive director Dylan Firth said beers over 5% ABV make up only 11% of all sold in New Zealand in the year to March. He said the industry's total volumes of high strength beers has also declined by a third since 2022. Firth said stronger beers are typically specialty or craft offerings intended for moderate consumption. Associate Justice Minister Nicole McKee said she's aware of concerns about high-strength beer. Photo / Mark Mitchell Associate Justice Minister Nicole McKee said she's aware of concerns high-strength beer and the potential harm irresponsible consumption posed. 'I'm continuing to engage with stakeholders and consider how regulation can reduce alcohol-related harm and contribute to the Government's target of 20,000 fewer victims of violent crime by 2030.' Lachlan Rennie is an Auckland-based Multimedia Journalist for Newstalk ZB covering science, defence, technology, community issues and general news.
