2011 news releases

Pike River Coal Limited (In Receivership) update

[16 December 2011]

John Fisk, Receiver of Pike River Coal Limited (In Receivership), advised today “there are a number of international parties that are interested in the mine but they each have their own internal processes to follow which will take longer than we had initially hoped. Therefore, we don’t expect to be signing a sale agreement this side of Christmas.”

Global Sports Market continues to thrive despite troubled economic times

[10 December 2011]

PwC today has released its second outlook for the global sports market “Changing the game: the Outlook for the Global Sports Market to 2015” which reveals despite the ongoing troubling economic climate, the sports industry has continued to thrive with many major sporting events proving to be more popular than ever, yet boundary blurs between balancing competitive sport with mass-entertainment.

Fraud in New Zealand is on the up

[30 November 2011]

Nearly half of the 93 New Zealand respondents to the 2011 PwC Global Economic Crime Survey say they have suffered fraud in the past year, with cybercrime emerging as the latest threat to hit businesses.

Pike River Coal Limited (In Receivership) update

[11 November 2011]

The Pike River Receivers confirm that a number of charges have been laid against the company by the Department of Labour. These were served yesterday.

Accountants strip off for Nude-Noggin Friday

[10 November 2011]

As proud egg heads, staff from PwC Auckland and Wellington will strip and shave off their hair tomorrow in a Wellington vs. Auckland ‘Nude-Noggin Friday’ challenge to see who can raise the most money for the Leukaemia & Blood Foundation.

Making it happen: PwC’s roadmap to delivering outcomes for our cities

[9 November 2011]

This year’s survey by PwC of local government leaders around the world including Auckland, Wellington and Dunedin confirms leadership is critical to the development and execution of an organisation’s strategy. But with public, private and voluntary sector organisations collaborating to deliver public services, all stakeholders need to be aligned in order to maximise the chances of success and being able to do more with less.

Another eventful year for the five large electricity generators in New Zealand

[31 October 2011]

According to PwC’s latest edition of Leading Energy, an analysis of key issues and challenges facing New Zealand’s electricity generation and retail companies, recommendations from the Ministerial Review of Electricity Market Performance continue to impact the electricity market. Key recommendations progressed during the year included the sale of Meridian Energy’s Tekapo hydro generation assets to Genesis Energy, and the signing of the virtual asset swaps between the Stated Owned Enterprise (SOE) generators.

Sustainable 60 Awards finalists announced

[3 October 2011]

This year’s Sustainable 60 Awards finalists know sustainability isn’t an add-on or achieved with an annual tree-planting day.

“More New Zealand businesses are getting the idea of sustainability as a business driver. This is increasingly evident as Sustainable 60 celebrates its third year,” says Unlimited magazine editor Mark Revington.

PwC signs Memorandum of Understanding with China Development Bank to help with the reconstruction of Christchurch

[28 September 2011]

PwC (formerly known as PricewaterhouseCoopers) is pleased to announce it has signed a Memorandum of Understanding (MoU) with China Development Bank (CDB).

The MoU was signed at Premier House, Wellington today by President of CDB Shanghai Branch GUO Lian and PwC Chief Executive Officer Bruce Hassall. On hand to witness the signing was Chinese Vice Premier HUI Liangyu and New Zealand Deputy Prime Minister Hon. Bill English.

PwC gives back to the Auckland community

[19 September 2011]

PwC (formerly known as PricewaterhouseCoopers) is playing its part in the community by donating more than 1,000 shrubs to the Onehunga High Business School.

Receivers successfully settle the company’s insurance claim and announce an early payment to creditors

[12 September 2011]

The Receivers of Pike River Coal Limited (In Receivership) (PRC) – John Fisk, David Bridgman and Malcolm Hollis, from PwC – have successfully reached a settlement with PRC’s insurers in respect of material damage and business interruption claims arising from the tragic events of 19 November 2010.

Landmark tax avoidance decision has wide impact

[24 August 2011]

Today’s Supreme Court decision in favour of the Commissioner of Inland Revenue in a case involving two surgeons who were alleged to have paid themselves artificially low salaries to reduce their tax bill is a landmark decision, says PwC Chairman and Tax Partner John Shewan.

Update on Zion Wildlife Gardens Limited (In Receivership)

[9 August 2011]

A High Court hearing took place today to discuss the receivers' access to Zion Wildlife Gardens Limited (In Receivership) due to being denied access to the property.

Receivers Mr Colin McCloy and Mr David Bridgman, from PwC, are currently waiting for the court order to be issued.

Challenging landscape fails to dampen the New Zealand’s major banks’ results

[5 August 2011]
New Zealand’s five major banks (ANZ National, ASB, Bank of New Zealand, Kiwibank and Westpac) have revealed a 2% increase in core earnings in the first half of their 2011 financial years (1H11), which is a respectable result considering the difficult conditions the banks are operating in.

More New Zealanders shopping online – and overseas – than ever

[2 August 2011]
Almost half of the New Zealand population will shop online in 2011 with each shopper spending an average of almost NZ$1,400. Total country online shopping expenditure for the year is expected to reach $2.68 billion, representing an increase of 12 per cent over 2010. Of this total amount, an estimated $910 million or 34 per cent will be spent with offshore online retailers according to a new report published by PwC and Frost & Sullivan.

New Zealanders told online needs to pay its way

[1 August 2011]
The New Zealand entertainment and media industry held its ground during the recession, with revenues growing a healthy 3% during 2010, according to the inaugural PwC New Zealand’s Entertainment and Media Outlook 2011-2015 report released today.

Receivers appointed to Zion Wildlife Gardens Limited

[26 July 2011]
Colin McCloy and David Bridgman, partners from PwC, have been appointed Receivers of Zion Wildlife Gardens Limited in Kamo, Whangarei.

Bridgecorp Limited (In receiverships & liquidation) update

[18 July 2011]
The Receivers of Bridgecorp Limited (In Receivership & Liquidation) are pleased to announce matters with the IRD have now been resolved. This development will enable an interim dividend to be paid to secured debenture investors.

Making the Crusaders v Reds final a reality for ten Cantabs

[6 July 2011]
Please help us back our boys in Brissy by spreading the word about our “Great Quake Crusade”!

The Crusaders have done Cantabs proud with their fantastic effort to make the final on Saturday. Now PwC and its long standing client, Versatile Homes & Buildings, want to do something for the Crusaders and the fans - particularly those for whom, going to a final like this would only be a dream at this time, not a reality.

Pike River Coal Update

[4 July 2011]
The Receivers of Pike River Coal Limited today outlined the following key considerations in relation to body recovery plans in the context of any potential sale of the mine.

Three new partners reflect PwC’s commitment to lead and influence the business debate in New Zealand

[28 June 2011]
PwC welcomes three new partners to its New Zealand firm. This brings the number of full equity partners to 113.

PwC’s Chief Executive Officer Bruce Hassall says “we’re focused in leading and influencing the business debate in New Zealand and our growth reflects our objective to best serve our clients’ requirements. Ultimately, our people are our main asset to make this happen.

Regulation and client expectations change the status quo in the wealth management industry

[24 June 2011]
The status quo in the private banking and wealth management industry is changing as the focus shifts to client service and value delivery, according to a new PwC report. The report -Anticipating a New Age in Wealth Management - includes findings from PwC’s 2011 Global Private Banking and Wealth Management Survey.

New competitors are challenging the dominance of established firms, and the impact of new regulations and more demanding client expectations are forcing private banks and wealth managers to change their client service infrastructures and the way they operate. Those who can master change will be in a position to win increased market share and lead the industry, says PwC.

Bringing investors in from the dark

[22 June 2011]
A new global study is calling for businesses to give a truer account of company performance or face losing stakeholder confidence.

In its ‘agenda for debate’ PwC , the Chartered Institute of Management Accountants (CIMA) and think tank Tomorrow’s Company warn the days of measuring performance by profitability at the exclusion of other outcomes are ending.

Banking in 2050

[15 June 2011]
How the financial crisis has affected the long term outlook for the global banking industry.

Banking markets of the world’s seven leading emerging economies (E7) are forecast to outgrow their G7 counterparts by as much as 50 per cent by 2050.

CEOs say innovation is most important factor for growth

[3 June 2011]
New PwC study: "Demystifying innovation: Take down the barriers to new growth"

Innovation – in the form of developing new products and services – has become as important to growth for CEOs as raising their share of existing markets. A survey by PwC of 1200 CEOs from around the world has found innovation, along with increasing their existing business, now outstrips all other means of potential expansion, including moving into new markets, mergers and acquisitions, and joint ventures and other alliances.

Pike River Mine update

[2 June 2011]
Continued monitoring of the mine atmosphere this week shows whilst there has been a decrease in carbon monoxide levels, it is still not safe to attempt the planned stabilisation work at the portal of the mine. The situation will continue to be monitored so work on the portal can commence as soon as possible.

'Banana Skins' poll pinpoints key concerns for Global and New Zealand insurers

[1 June 2011]
The CSFI’s latest Insurance Banana Skins survey, conducted in association with PwC, polled nearly 500 insurance practitioners and industry observers in 40 countries (including New Zealand) to find out where they see the greatest risks over the next two-three years.

Celebrating our Kiwi cities on the world stage

[27 May 2011]
How new world cities are knocking the traditional powerhouses down the list and balanced economies and strong quality of life offer an attractive alternative. Good news for our Kiwi cities.

Chief Executive Officer Bruce Hassall says “this is a great and well-deserved achievement for our partners Michele and Karen, and a good recognition for our firm’s expertise and thought leadership.”

Notification of increased gas levels at Pike River Mine

[26 May 2011]
Tests undertaken as part of the Mine Stabilisation Plan have revealed gas levels (mainly Carbon Monoxide) have increased to such an extent the mine remains unstable, and work at the portal will have to be delayed by at least a week.

PwC is continuing to make contributions to the New Zealand regulatory environment

[20 May 2011]
Partners Michele Embling and Karen Shires have been appointed members of the New Zealand Accounting Standards Board (NZASB) and the New Zealand Auditing and Assurance Standards Board (NZAuASB) from  1 July 2011.

Chief Executive Officer Bruce Hassall says “this is a great and well-deserved achievement for our partners Michele and Karen, and a good recognition for our firm’s expertise and thought leadership.”

Latest on Budget 2011

[19 May 2011]
Here is our initial reaction to the New Zealand Government's Budget announcement.

PwC Chairman John Shewan say "Budget 2011 delivers an austere but sensible reform package that, as expected, includes changes to KiwiSaver, Working for Families and student loans."

Survival of the fittest: businesses put to the test

[17 May 2011]
The agility of New Zealand and Australian organisations will come under the microscope for the first time in a study launched today by the University of Melbourne and leading professional services firm PwC.

Phil Royal, PwC New Zealand’s Consulting Leader, says the concept of agility is emerging as a key indicator of organisational success. 

New partner cements PwC’s expertise in the Security and Technology sectors

[9 March 2011]
PwC welcomes the admission of Colin Slater as Security and Technology Partner to the New Zealand firm.

Colin has more than 15 years of experience in IT security and consulting. From a background of developing encryption and real-time software in the marine surveying industry, Colin has worked in diverse areas of systems development and consulting including holding senior positions in the National Bank, Sytec, the Risk Advisory Group and PwC.

Pike River Coal to implement mine stabilisation plan

[9 March 2011]
The New Zealand Police and Pike River Coal Limited (In Receivership) (the Company) announced today that the Company has resumed control of mine stabilisation operations at Pike River Mine.

One of the receivers of the Company, Mr John Fisk, said today that the Company intends to implement the Mine Stabilisation Plan prepared by Company management in conjunction with expert mining advisers. A separate fund has been set aside for this purpose.

Three new partners reflect PwC’s commitment to provide the best possible service to New Zealand

[21 February 2011]
PwC welcomes three new partners to the New Zealand firm. This brings the number of full equity partners to 109.

PwC’s Chief Executive Officer Bruce Hassall says “Our people are our main asset. I am very proud that at PwC we continue to invest in our people’s professional growth. The admission of Craig Reid, Kirsty Godfrey-Billy and Wayne Tainui will ensure we cement our place as the leading professional services firm in New Zealand.”

Accountants make a difference one step at a time

[11 February 2011]
Bean counters with big hearts will be running a non-stop relay from Napier to Wellington to support families who will stay in Wellington’s new Ronald McDonald House.

New Zealand’s major banks find steady footing in the new normal post-GFC world

[11 February 2011]
New Zealand’s five major banks (ANZ National, ASB, Bank of New Zealand, Kiwibank and Westpac) have put together solid profits for the second half of their 2010 financial year (2H10), and combined with the unspectacular, yet respectable, profits for the first six months of the financial year (1H10), have resulted in a collective performance which must be rewarding given the deep scarring that occurred during 2009.

Mairoa Downs Limited and Mairoa Holdings Limited (In Receivership)

[2 February 2011]
PwC (formerly known as PricewaterhouseCoopers) Partner John Fisk and Director David Blanchett have confirmed the sale of Mairoa Downs farm.

Global CEOs’ confidence restored to pre-crisis levels as recession woes wane but skill-shortage fears emerge

[26 January 2011]
Two years on from the depths of recession, CEOs' confidence in future growth has returned to nearly pre-crisis levels, according to PwC's 14th Annual Global CEO Survey. In the worldwide poll of 1,201 CEOs, 48% said they were “very confident" of growth in the next 12 months. That's a major shift from the 31% last year who were "very confident" and approaches the 50% reached in 2008 before the onslaught of the economic crisis.

Receivers of Pike River Coal Limited (In Receivership) presents mine stabilisation plan to the Commissioner of Police

[17 January 2011]
On 13 January 2011, the New Zealand Police wrote to the Receivers – John Fisk, David Bridgman and Malcolm Hollis, partners from PricewaterhouseCoopers - requesting Pike River Coal Limited (PRC)’s plans with regard to the mine following cessation of the recovery operation.  

Pike River Coal Limited (In Receivership)

[14 January 2011]
Yesterday, Commissioner of Police Howard Broad announced the Police’s decision to cease efforts to re-enter the mine and the attempted recovery operation due to continuing difficulties with initiatives to stabilise the mine. The Police have committed to secure the mine in the interests of public safety.