Latest news with #CRL
RNZ News
a day ago
- Business
- RNZ News
CRL awards NZ$152m to Māori and Pasifika businesses but ‘true equity' remains elusive
Photo: RNZ/Calvin Samuel By Mary Afemata, Local Democracy Reporter, PMN Auckland City Rail Link (CRL) must deliver for Māori and Pacific communities that rely heavily on public transport, the Whātua Ōrākei says. This comes as City Rail Link awards contracts worth $152 million to Māori and Pasifika businesses, according to CRL's latest social outcomes report. But Ngarimu Blair, the deputy chairman of Ngāti Whātua Ōrākei, says genuine partnerships and equity are still out of reach, emphasising the importance of CRL delivering benefits for Pacific and Māori communities. As Auckland's $5.5 billion project nears completion in 2026 , Blair highlights the need for fair access, cultural visibility, and lasting economic benefits for all. He says Auckland is still a long way from achieving true partnership in this major transport project. At an exclusive event on Friday, politicians, mana whenua, and project partners boarded the first test train at Maungawhau Station to travel through New Zealand's 3.45-kilometre underground tunnels. Blair described the ride as "an auspicious event" after decades of planning, political effort, and technical work. He says infrastructure projects like the CRL can help lift Auckland following a slow post-Covid recovery. "This station's looking really cool. It's got subtle reflections of our Polynesian Māori design, so people, when they come here, know they're in Tāmaki Makaurau and Te Moana-nui-a-Kiwa in the South Pacific. "We hope it will kickstart Auckland again. Infrastructure like this is a key plank for the economy to move people around." CRL chief executive Patrick Brockie says the project has exceeded its procurement targets for Māori and Pasifika suppliers. "We've been very passionate around procurement using Māori and Pasifika businesses, and with our graduate programme, we're building career paths for rangatahi," Brockie says. "We've procured over $155 million from Māori and Pasifika businesses, and that doesn't include the subcontracts they've been involved in with our lead contractors. Even when we reached some of the targets that we had for procurement, the contractors went beyond that." Blair says more Māori and Pacific firms are positioning themselves for major contracts, but ownership of the biggest assets remains a challenge. He says equity also means providing people with genuine transportation options. "We're not where we need to be. We don't own the tunnel-boring company, we don't own the trains, we don't own the companies that have all the diggers. More money in our pockets as 'aiga, as families and as individuals makes life easier at home. We're still not there, but that's where we've got to get to. "The more we have projects like this, the busways, cycleways and so on, the equity comes with that. Those are much more choices than just having to buy a car, maintain it, pay the road user charges and the mechanics' fees." Prime Minister Christopher Luxon says the CRL will facilitate more frequent journeys from the south and west into the city, supported by a $50 weekly fare cap. "That makes it affordable, accessible, frequent, all those things that we want people in Auckland to enjoy, including in the south." Auckland Mayor Wayne Brown, who claims he introduced the fare cap, says it coincides with rising driving costs. "The costs of public transport are coming down. From an equitable point of view, it's going to be good news for those people who use more and more public transport." Dean Kimpton, the chief executive of Auckland Transport, says the CRL will create a more reliable and connected network. "This is a game-changer. It's about unlocking the potential of the rail network so people can travel more directly, more often, and with greater confidence." Blair believes the CRL will make a major difference in daily life. "My local station's Glen Eden out west. Currently it's 55 minutes. After this opens, that ride will go from 55 minutes to 25 minutes. More time means more time for family, more time for thinking on the train about the day ahead." Brockie says South Auckland passengers will gain direct access to central destinations without the need for transfers. "If you're coming from South Auckland, you can go straight through to Karangahape, Maungawhau or Waitematā without having to transfer. "Go to the rugby, a restaurant or a concert without getting off and walking. It's going to save time and make these areas more accessible, both for work and socially." Brockie says mana whenua have had "a massive influence" on the design and storytelling at CRL stations. "It's not just a building. Each site has its own story, and they're all very special." Albert-Eden-Puketāpapa ward councillor Christine Fletcher says the station's cultural elements, including artwork and the presence of mana whenua, reflect "the sensitivity to the maunga", which she finds beautiful. When asked about the significance of the CRL, especially concerning public transport's connections to affordability, reliability, and safety, Fletcher says: "Well, we often think of public transport in terms of function, but it's also about people. While you're on the train, you take in your surroundings. When I take my moko's, they notice this too. It's part of who they are, where they're going, and their life journey. "This is an emotional day for me. Although there are still 16,000 tests to complete before opening, I believe Pasifika can feel proud of this. During the design phase, Pauline Winter from the Pasifika community helped define what Auckland might be. This project truly lives and breathes that spirit, and I think it's fantastic for the future." Blair encourages Aucklanders to be patient as the city develops its transport network. "We're building the network still as a city. There's been years of underinvestment. There's just not enough infrastructure. A lot of our people have relied on public transport over the years. I'd say hang in there, stick with it. Projects like this will, on the surface anyway, look like a new era and a new standard of service. What's the alternative? Sitting in a car for an hour or more at times. We're getting there, but there is a long way to go. Acknowledge that." Brown believes the new Maungawhau Station should become a hub for urban living. "The big project here is to create almost a city of people right here at Maungawhau, we want entertainment, food, groceries. So there's a little town here, so these people don't have to jump in cars. They're right on top of a place to get around." Luxon says the Government is already working to attract overseas partners to invest in infrastructure and development along the CRL corridor. "We held the Infrastructure Investment Summit here in Auckland, we were able to bring in people from all around the world with capital that actually want to partner with us to build out that infrastructure." - PMN
Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
Faruqi & Faruqi Reminds Replimune Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of September 22, 2025
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Replimune To Contact Him Directly To Discuss Their Options If you purchased or acquired securities in Replimune between November 22, 2024 and July 21, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, Aug. 9, 2025 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Replimune Group, Inc. ('Replimune' or the 'Company') (NASDAQ: REPL) and reminds investors of the September 22, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Defendants recklessly overstated the IGNYTE trial's prospects, given material issues that defendants knew or should have known of, which resulted in the FDA deeming the IGNYTE trial inadequate and not well-controlled; and (2) as a result, defendants' statements about Replimune's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages. On July 22, 2025, before the market opened, Replimune issued a press release entitled 'Replimune Receives Complete Response Letter from FDA for RP1 Biologics License Application for the Treatment of Advanced Melanoma.' The press release stated that Replimune had received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding the Biologics License Application (BLA) for RP1 (vusolimogene oderparepvec) in combination with nivolumab for the treatment of advanced melanoma.' The press release stated that the CRL 'indicates that the FDA is unable to approve the application in its present form. The FDA has indicated that the IGNYTE trial is not considered to be an adequate and well-controlled clinical investigation that provides substantial evidence of effectiveness.' On this news, Replimune common stock plummeted over 73% during intraday trading on July 22, 2025. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Replimune's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Replimune class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Capricor Therapeutics
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Capricor To Contact Him Directly To Discuss Their Options If you purchased or acquired securities in Capricor between October 9, 2024 and July 10, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, Aug. 8, 2025 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Capricor Therapeutics, Inc. ('Capricor' or the 'Company') (NASDAQ: CAPR) and reminds investors of the September 15, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that defendants provided investors with material information concerning Capricor's lead cell therapy candidate drug deramiocel for the treatment of cardiomyopathy associated with Duchenne muscular dystrophy (DMD). Defendants' statements included, among other things, Capricor's ability to obtain a Biologics License Application (BLA) for deramiocel from the U.S. Food and Drug Administration (FDA). Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating false and misleading statements and/or concealing material adverse facts concerning its four-year safety and efficacy data from its Phase 2 HOPE-2 trial study of deramiocel. On July 11, 2025, Capricor issued a press release announcing it received a Complete Response Letter (CRL) from the FDA denying the BLA specifically citing it did not meet the statutory requirement for substantial evidence of effectiveness and the need for additional clinical data. Further, the CRL referenced outstanding items in the Chemistry, Manufacturing, and Controls section of the application. Following this news, the price of Capricor stock declined from $11.40 per share on July 10, 2025 to $7.64 per share on July 11, 2025. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Capricor's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Capricor Therapeutics class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
1News
5 days ago
- Business
- 1News
'A bit like Star Trek': Politicians take City Rail Link test run
There's been another milestone in Auckland's City Rail Link with people from outside the project allowed on an underground test run for the first time. Prime Minister Christopher Luxon was aboard along with senior ministers, city leaders and other officials. The train journey started at the revamped Maungawhau Station and headed into a tunnel to arrive at Waitematā or Britomart Station. "We were just saying it's a bit like Star Trek, warp speed up there the way the tunnel is lit," Luxon said after standing with the driver. City Rail Link's first test train. (Source: ADVERTISEMENT Auckland Mayor Wayne Brown stayed seated and chatting with the Finance Minister during the trip and maybe didn't see the warp speed lighting. "We don't really see exactly what we've got here just yet, but it's good, this is a good step in the direction," he told RNZ. In a speech before getting on the train, Brown said getting to today had not been cheap or easy, with Auckland enduring a decade of construction that has been tough. He warned future projects needed to be done better and faster and could not be done on what costs were now. There have been more than 1600 test train runs in the new City Rail Link tunnels so far. Vince Ahkuoi was the driver. "I haven't driven a train that is that important, I don't think," he said. ADVERTISEMENT Today showed just how far the City Rail Link had come, another driver Grant Dowie said. He said test trains had run more than 5000km since February and 50 drivers had been trained. "And if you think that the tunnel is only 3.5km long, to get over 5000km of test running we've been running backwards and forwards multiple times," he told RNZ. He said the VIP test train on Friday showed that testing had done its job, but there was still much more to do. "We started at walking pace, and then we went to 3km [an hour] and then we went to 10km and then we went to 25 and then 40," he said. Prime Minister Christopher Luxon at the City Rail Link's first test train. (Source: Trains now run at 70km/h and a key test was making sure the trains actually fit. ADVERTISEMENT "I know it's a silly thing but in other parts of the world there have been situations where they've built a tunnel and then the trains didn't fit," Dowie said. "I know people are thinking 'well why aren't we opening the tunnel' but it's a journey that we have to go through to make sure it's safe before we open." City Rail Link officials are hailing Friday's VIP test run as a milestone but say there is still a long way to go before the public can have its turn. CRL chief executive Patrick Brockie said testing and commissioning was the most complex part of the $5.5 billion project. "There is still a lot of work to do before we know when exactly passengers will ride," he said. Several politicians attended City Rail Link's first test train. (Source: Another on the train, Finance Minister Nicola Willis was happy with what she saw. "The feeling I have is it looks like when you're overseas and you go in a proper underground subway and that's an experience many New Zealanders have had and now they can have it here in Auckland," she said.
Scoop
5 days ago
- Business
- Scoop
Ministers And Mayor Ride CRL Train Under Auckland
Press Release – City Rail Link The train travelled beneath the city centre through the twin 3.45 kilometre-long tunnels, starting at the new Maungawhau Station and passing through Karanga-a-Hape and Te Waihorotiu underground Stations and Waitemat Station (Britomart) before … Auckland's City Rail Link (CRL) celebrated an exciting milestone today, welcoming Prime Minister Christopher Luxon, Auckland Mayor Wayne Brown, Government Ministers, civic leaders and project partners as passengers on the transformational railway under the central city. 'The Government and Auckland Council are joint funders of the $5.5 billion project, and we're delighted to have been able to show off the progress we are making and offer a preview of the benefits thousands of Aucklanders will enjoy when CRL opens next year,' says City Rail Link Ltd's Chief Executive, Patrick Brockie. The train travelled beneath the city centre through the twin 3.45 kilometre-long tunnels, starting at the new Maungawhau Station and passing through Karanga-a-Hape and Te Waihorotiu underground Stations and Waitematā Station (Britomart) before returning to Maungawhau. Mr Brockie says with heavy construction complete, work is focused on commissioning and testing all the tunnel and station systems necessary to operate the CRL safely. 'While the finish line is getting closer, there is still a lot of work to be done before the CRL can open to passengers in 2026,' he says. The trip was organised under strict safety protocols as part of the CRL's rigorous train testing phase. Since the first test train ran in February this year, more than 1,600 individual test train journeys have already taken place inside the tunnels and Mr Brockie says there is a lot more to do to ensure the CRL and future train services are safe and reliable. 'We know from lessons learned overseas, this is our most challenging and complex phase and getting this right for Aucklanders is our utmost priority.' All project partners are working together to complete and open the CRL as quickly as possible to deliver the largest ever change to Auckland's public transport network. 'We can't wait to show more people just how transformational City Rail Link will be for Auckland's wider rail network. It allows for a rethink of our train lines giving customers more choice in how they travel and ways get to where they're going faster,' says Auckland Transport Chief Executive Dean Kimpton. 'There's still a long 'to-do list' before we can open in 2026 and together with our partners, we are working hard to be ready for day one. We're hiring front line staff, procuring new trains, updating bus routes, improving streets, paths and bus stops around our new stations and removing level crossings from our rail network,' says Dean Kimpton. KiwiRail Chief Executive Peter Reidy says KiwiRail continues to deliver significant upgrades to the metro network to support the increased services City Rail Link will bring. 'In Auckland we are carrying out work which would normally take a decade but is being delivered in three to four years. 'While working closely with our partners to ensure rigorous testing and commissioning of the City Rail Link, KiwiRail is also modernising our older rail assets so they can support significantly more trains and passengers. 'We have delivered large new infrastructure projects to support this – Pukekohe to Papakura electrification, Third Main Line and Wiri to Quay Park, Western Power Feed – and continue at pace with the final stages of our Rail Network Rebuild and constructing three new stations in southern Auckland.' CRL is New Zealand's first underground railway.
