Latest news with #Bridge
Otago Daily Times
5 hours ago
- Business
- Otago Daily Times
Quake-damaged hotel to become five-star Sheraton
By Adam Burns of RNZ A Christchurch hotel building that has sat empty in the central city since the earthquakes will soon become a five-star Sheraton hotel as a result of a $150 million rebuild. Mainland Capital and Russell Property Group have struck a deal with global hotel giant Marriott International to develop the former Rydges Hotel on Oxford Terrace. First established as Noahs in the 1970s, the building was badly damaged in the 2011 earthquake. Plans to restore the building stalled because of a long-standing legal dispute between building owners and insurers that ended up in the Supreme Court. Mainland Capital director Ben Bridge told RNZ the Sheraton hotel plans were a major milestone for the city's post-quake recovery. "This has been a building that's been a bit of a blight on the landscape for the 15 years since the earthquake. It's been identified by the council and the public as something they would like to see resolved. "To be able to bring that to fruition with our partners, I think it's a pretty significant step for solving one of the problematic sites in the city." The 14-storey building would include 240 rooms or suites, a restaurant, a rooftop bar, event spaces and a gym when it opened in mid-2027. The original building was established before the 1974 Christchurch Commonwealth Games and has had a number of high-profile guests over the years, including the Shah of Persia, Princess Diana, King Charles and Sir Elton John. "It has a long 50-year history and I think that's what's really engaged the public," Bridge said. "I think there's a really strong support for it from the public to have something done. If that could be the restoration of what was quite an iconic hotel in its day then all the better." An under-supply of hotels in Christchurch had also been identified during planning talks. Bridge said an opportunity was identified by virtue of the neighbouring Te Pae Convention Centre having its busiest period during the slower winter months for the hospitality sector. He said opening of One New Zealand Stadium and Parakiore Recreation and Sport Centre were also factors around forecast increases in accommodation demand. "We've been waiting a long time to see that a hotel would come out of the ground in Christchurch. To be able to do this and hopefully set the bar relatively high, we hope others will follow," he said. Te Pae general manager Ross Steele said the hotel would be "a game changer". "[The convention centre] has led the way for New Zealand's re-entry into the international convention market, this five star Sheraton hotel, opening in 2027, will take us to the next level."
Otago Daily Times
21 hours ago
- Business
- Otago Daily Times
Quake-damaged Christchurch hotel to become five-star Sheraton
By Adam Burns of RNZ A Christchurch hotel building that has sat empty in the central city since the earthquakes will soon become a five-star Sheraton hotel as a result of a $150 million rebuild. Mainland Capital and Russell Property Group have struck a deal with global hotel giant Marriott International to develop the former Rydges Hotel on Oxford Terrace. First established as Noahs in the 1970s, the building was badly damaged in the 2011 earthquake. Plans to restore the building stalled because of a long-standing legal dispute between building owners and insurers that ended up in the Supreme Court. Mainland Capital director Ben Bridge told RNZ the Sheraton hotel plans were a major milestone for the city's post-quake recovery. "This has been a building that's been a bit of a blight on the landscape for the 15 years since the earthquake. It's been identified by the council and the public as something they would like to see resolved. "To be able to bring that to fruition with our partners, I think it's a pretty significant step for solving one of the problematic sites in the city." The 14-storey building would include 240 rooms or suites, a restaurant, a rooftop bar, event spaces and a gym when it opened in mid-2027. The original building was established before the 1974 Christchurch Commonwealth Games and has had a number of high-profile guests over the years, including the Shah of Persia, Princess Diana, King Charles and Sir Elton John. "It has a long 50-year history and I think that's what's really engaged the public," Bridge said. "I think there's a really strong support for it from the public to have something done. If that could be the restoration of what was quite an iconic hotel in its day then all the better." An under-supply of hotels in Christchurch had also been identified during planning talks. Bridge said an opportunity was identified by virtue of the neighbouring Te Pae Convention Centre having its busiest period during the slower winter months for the hospitality sector. He said opening of One New Zealand Stadium and Parakiore Recreation and Sport Centre were also factors around forecast increases in accommodation demand. "We've been waiting a long time to see that a hotel would come out of the ground in Christchurch. To be able to do this and hopefully set the bar relatively high, we hope others will follow," he said. Te Pae general manager Ross Steele said the hotel would be "a game changer". "[The convention centre] has led the way for New Zealand's re-entry into the international convention market, this five star Sheraton hotel, opening in 2027, will take us to the next level."
Yahoo
6 days ago
- Business
- Yahoo
U.S Neobank Slash Debuts Stablecoin with Stripe's Bridge for Global Business Payments
Slash, a San Francisco-based neobank for businesses, launched a payments and treasury platform powered by a new U.S. dollar stablecoin issued by Stripe's Bridge on Tuesday. The product, called the Global USD Account, is aimed at companies seeking U.S. dollar access and cross-border payments without a U.S. bank account. It introduces Slash's own stablecoin, USDSL, which lets users store, send and receive dollars or stablecoins in one account, the company announced. The setup aims to shorten settlement times and remove foreign exchange fees for cross-border payments to U.S. suppliers, the company said in an interview with CoinDesk. Stablecoins, a type of cryptocurrencies pegged to external assets like the U.S. dollar, have grown into a $250 billion market, often touted as a faster, cheaper option for international payments. Interest in the sector has accelerated since U.S. President Donald Trump signed the GENIUS Act into law, setting new federal standards for stablecoin issuers. Global banks and retailers including Amazon and Walmart are reportedly exploring stablecoin products, and payments firms like PayPal and Stripe have made significant moves in the space. Stripe acquired stablecoin infrastructure firm Bridge last year for $1.1 billion. Slash's first foray into stablecoins allowed customers to send and receive USDC (USDC) and USDT (USDT) payments on the platform without having to hold the tokens, converting them automatically to U.S. dollars. "It's super interesting because we were very much not a crypto company," Cardenas said, adding that he personally didn't know much about blockchain technology. "But then we had these wholesalers and marketing agencies telling us we need to have stablecoin payments to accept money from customers at lower cost." "So we shipped it for them," he said. Launched in December, that feature now already processes nearly $1 billion annualized volume and inspired the firm to go bigger with stablecoins, Cardenas said. The firm now targets crypto companies that want to consolidate their treasury management that previously needed separate accounts at traditional banks, exchanges and custody providers. With the new slate of products, clients can convert between stablecoins, manage balances and off-ramp to U.S. bank accounts through ACH, wire or SWIFT transfers. They can also earn yield on their balances without triggering securities rules, the company said. Future plans include launching a card that lets businesses spend their stablecoin balances and potentially a wallet for holding other crypto assets, Cardenas said. In May, Slash raised $41 million in a Series B round led by Goodwater Capital, valuing the company at $370 million.
The Star
05-08-2025
- Sport
- The Star
Rugby-Former All Blacks winger Bridge signs with Western Force
MELBOURNE (Reuters) -Former New Zealand winger George Bridge has signed a two-year deal with Western Force and will return to Super Rugby next season, ending a three-year stint in French rugby. Bridge scored 12 tries in 19 tests for the All Blacks and played in the 2019 World Cup in Japan before heading abroad to play for Top 14 side Montpellier in 2022. The 30-year-old will replace Wallabies winger Harry Potter who left the Perth-based Force to join the New South Wales Waratahs. Bridge, who can also play fullback, was part of Scott Robertson's powerful Canterbury Crusaders from 2017-22, helping the South Island team win four Super Rugby titles and the domestic Super Rugby Aotearoa championship twice. "George is well known to a number of people on our staff and they can't speak highly enough of his professionalism, approach to the game and his rugby knowledge," Force coach Simon Cron said in a statement on Tuesday. "He's got a massive left foot kick. He can play multiple positions. He's a brilliant player. An amazing talent. He'll add to the guys that we have in the squad." The Force, who have never made the playoffs in any variant of Super Rugby since joining in 2006, managed only four wins last season and finished ninth in the 11-team competition. Bridge's former team, the Crusaders, won a record-extending 15th Super Rugby title. (Reporting by Ian Ransom in Melbourne; Editing by Christopher Cushing)
Straits Times
05-08-2025
- Sport
- Straits Times
Former All Blacks winger Bridge signs with Western Force
Sign up now: Get ST's newsletters delivered to your inbox MELBOURNE - Former New Zealand winger George Bridge has signed a two-year deal with Western Force and will return to Super Rugby next season, ending a three-year stint in French rugby. Bridge scored 12 tries in 19 tests for the All Blacks and played in the 2019 World Cup in Japan before heading abroad to play for Top 14 side Montpellier in 2022. The 30-year-old will replace Wallabies winger Harry Potter who left the Perth-based Force to join the New South Wales Waratahs. Bridge, who can also play fullback, was part of Scott Robertson's powerful Canterbury Crusaders from 2017-22, helping the South Island team win four Super Rugby titles and the domestic Super Rugby Aotearoa championship twice. "George is well known to a number of people on our staff and they can't speak highly enough of his professionalism, approach to the game and his rugby knowledge," Force coach Simon Cron said in a statement on Tuesday. "He's got a massive left foot kick. He can play multiple positions. He's a brilliant player. An amazing talent. He'll add to the guys that we have in the squad." The Force, who have never made the playoffs in any variant of Super Rugby since joining in 2006, managed only four wins last season and finished ninth in the 11-team competition. Top stories Swipe. Select. Stay informed. World Israel to decide next steps in Gaza after ceasefire talks collapse Asia What's it like to deal with brutal US tariffs? Ask Malaysia Singapore Singapore launches review of economic strategy to stay ahead of global shifts Singapore A look at the five committees reviewing Singapore's economic strategy Opinion Keeping it alive: How Chinese opera in Singapore is adapting to the age of TikTok Life Glamping in Mandai: Is a luxury stay at Colugo Camp worth the $550 price tag? Sport World Aquatics C'ships in S'pore deemed a success by athletes, fans and officials Bridge's former team, the Crusaders, won a record-extending 15th Super Rugby title. REUTERS
