News

Don't expect interest rates to drop as low as they have in past decade - economist

Cameron Bagrie feels COVID-19 and pre-pandemic interest rate lows are a thing of the past.

2024-04-22T22:17:58Z

Financial advisor welcomes Govt's home loan and lending changes, says it allows banks to use 'common sense'

The Government said it would update the Credit Contracts and Consumer Finance Act (CCCFA).

2024-04-21T22:29:41Z

Ryman Healthcare CEO Richard Umbers resigns

The company's performance has been below expectations in recent times, Ryman's chairperson says.

2024-04-22T02:33:05Z

Interest deductibility for landlords unlikely to see rents fall

From 1 April, landlords will be again be able to claim tax deductions for interest on residential investment properties from, but will that mean lower rents?

2024-03-31T02:11:54Z

New Zealand economy shrinks, country in technical recession

Gross Domestic Product fell by 0.1 percent.

2024-03-20T22:08:01Z

Synlait investors crossing fingers as troubled milk producer releases first-half results

Investors will be looking for a resolution to Synlait's debt situation when it releases its first-half result Tuesday morning.

2024-03-31T17:43:27Z

Major insurance company accused of misleading customers, thousands overcharged

The FMA said the insurers failed to correctly apply advertised discounts to affected customers' invoices, resulting in overcharged premiums.

2024-03-26T00:44:53Z

Fonterra profit up 23% with higher margins and sales volumes

Underlying profit from the ingredients, foodservice and consumer businesses fell, but were more than offset by a gain the global markets business.

2024-03-20T21:37:59Z

Complaints over bank accounts being shut down have soared 44 per cent

Britons made 4,000 complaints about their bank accounts being shut down, figures show. The row broke out last summer when Mr Farage's account with private bank Coutts was closed.

2024-04-21T21:44:00Z

Sharesies acquires equity management service Orchestra

Orchestra offers employee share ownership plans and share registry services to private companies in New Zealand and Australia.

2024-04-12T00:28:40Z

Sharesies to host online trading of Fonterra shares

Co-chief executive Leighton Roberts said the agreement offered a new line of business and should improve liquidity in Fonterra shares.

2024-04-18T05:56:55Z

Breathe slow, never start too low: Former crisis negotiator's top tips for securing a deal

Lance Burdett knows how to talk criminals down - and says when asking for a raise or buying a house, many of the same principles can be applied.

2024-04-01T04:29:29Z

Crowdfunding service Equitise loses licence to operate

Crowdfunding investment service Equitise has lost its licence to operate.

2024-04-17T03:26:08Z

More houses for sale, high interest rates keep price gains low

The run of three softer results in a row for the House Price Index was expected, according to CoreLogic NZ's chief property economist.

2024-04-03T16:40:39Z

Four simple ways to save up to £700 on your mobile contract

Cost-of-living champion Greg Marsh, CEO of Nous.co has issued four simple tips that have saved people as much as £700 a year on their mobile phone deals.

2024-04-21T14:57:44Z

Te Taumata to promote wāhine Māori in tech opportunities in the UK and European markets

'We are committed to supporting the growth of wāhine Māori in technology.'

2024-04-01T18:17:58Z

Banking sector lacks competition - Commerce Commission draft report

The banking sector lacks competition and disruptive forces to drive change and deliver benefits to consumers, a Commerce Commission draft report says.

2024-03-20T20:07:56Z

'Challenging economic conditions': Air NZ announces yet another profit drop

The airline is blaming competition and cost of living pressures.

2024-04-21T22:44:47Z

Economy slips into recession as GDP falls 0.1%

The economy shrank 0.1 percent at the end of last year, new official figures show.

2024-03-20T21:53:01Z

Why Australia's housing crisis is expected to get even worse

The troubling state of the housing market has home-building industry groups, social welfare advocates and federal independents crying out for more action before the May 14 budget.

2024-04-23T00:32:15Z

Mining firm Chatham Rock Phosphate sees share boost after making fast-track consents claim

it is second company in less than a week which the Infrastructure Minister has accused of being "misleading".

2024-04-11T07:32:19Z

Washing machine have energy-use ratings, will some homes get them too?

Energy efficiency ratings for buildings are on hold, while the government decides whether to intervene to improve the country's housing.

2024-04-16T18:40:14Z

All about index funds: How BlackRock, Vanguard became passively powerful

Cheap index funds: “It’s not much of a margin but it’s a heck of a volume.”

2024-03-03T18:09:52Z

Suncorp sells Asteron Life for $140m

The Australian financial services is selling its New Zealand life insurance business in a deal spanning months.

2024-04-03T22:41:06Z

'Too early to declare victory': Inflation data probably not enough to bring forward rate cuts

Inflation is predicted to drop to the lowest level in three years, but not enough to change the dial on interest rate cuts.

2024-04-15T18:10:43Z

Financial mentoring services sound warning over wind-back of lending regulations

The government is reforming the Credit Contracts and Consumer Finance Act (CCCFA), which it says has created unnecessary compliance costs, and blown out the timeframes for accessing a loan.

2024-04-21T19:02:08Z

Elevated inflation will likely delay rate cuts this year, says Fed chair Jerome Powell

Jerome Powell opens the door to a period of higher-for-longer rates.

2024-04-17T00:06:39Z

More optimism by busineses on economy - survey

More than half of business leaders are feeling more optimistic about economic outlook over the next 12 months.

2024-04-21T22:17:35Z

Reserve Bank holds OCR at 5.5 percent

The Reserve Bank has left the official cash rate unchanged for a sixth consecutive meeting.

2024-04-10T02:14:25Z

Why the latest inflation figures aren't all good news

The easing of the annual inflation to its lowest level in three years might be met with applause, but economists are cautious to celebrate.

2024-04-17T05:11:15Z

Vendor financing of business sales skyrockets

There are still plenty of would-be business buyers in the market, but prices are under pressure says the managing director of a business brokerage.

2024-04-21T19:02:07Z

Five-bed beachfront mansion to become most expensive sold on Sandbanks

A luxury house is set to become the most expensive property ever sold on Sandbanks, Dorset, after a £15m deal was struck to buy it.

2024-04-22T16:31:15Z

Spark tight-lipped over job cuts after restructure meeting

Telecommunications giant Spark is remaining tight-lipped over how many jobs it plans to cut after a restructure meeting with its staff on Thursday morning.

2024-03-14T04:10:08Z

Jacqui Lambie's radical overhaul call to rewrite real estate rules

The cross bench senators are pushing the Labor government to implement changes to negative gearing and to reduce investment property tax concessions.

2024-04-23T05:03:00Z

Profit squeeze on the cards for New Zealand's big four banks - rating agency

The country's subdued economy will be felt in the performance of ASB, ANZ, BNZ, and Westpac, Fitch Ratings says.

2024-04-21T18:47:07Z

Kiwis take advantage of record gold prices, cash in investments

Gold has historically held up well in times of high inflation, market volatility and geopolitical uncertainty.

2024-04-02T00:01:20Z

WorkSafe interim chief executive Steve Haszard resigns months into job

Steve Haszard is stepping down just months after taking the job at the beleaguered Crown agency.

2024-04-04T20:38:26Z

Employment confidence rises, job search toughens - report

Employment confidence has turned positive for the first time since mid-2023, but workers say it is getting harder to find a job.

2024-03-25T22:15:05Z

Budget Policy Statement: Willis promises cuts despite late return to surplus

The government's books are in worse shape than thought but the Finance Minister says she will deliver.

2024-03-27T00:17:23Z

Why breaking your home loan contract might not be worth it: What you need to know

Explainer - As big banks reduce home loan interest rates, people might be tempted to shop around. But break fees can end up costing as much or even more than potential savings.

2024-03-14T05:10:15Z

'Soft landing': Why global recession fears are being put to rest

"Pretty much everywhere you look over the last three months was positive."

2024-04-03T20:35:31Z

How to get $110 off your power bill through little-known scheme

Kiwis facing higher power charges could be eligible for help.

2024-04-17T22:43:59Z

Major tax change for landlords confirmed - here's when it comes into force

David Seymour says it will ease pressure on rents.

2024-03-10T00:09:38Z

Former CBL boss cuts deal with Financial Markets Authority to settle case

The FMA said CBL managing director Peter Harris will admit keeping information from investors and issuing a deceptive statement to the stock exchange.

2024-03-25T00:57:56Z

Interest rates: Borrowers try to second guess Reserve Bank

New data shows borrowers seem to have decided mortgage rates have peaked .

2024-04-17T18:11:31Z

Trump's net worth plunges $1 billion

Some experts warn Trump Media's multibillion-dollar valuation defies logic and is reminiscent of the meme stock craze.

2024-04-02T01:31:10Z

'It's a skill-based market' - employment website

The fall in job advertisements has slowed, but competition is getting tougher.

2024-04-22T18:05:18Z

PGW cuts earnings forecast by $7m

Weaker agricultural market conditions have forced the rural services company to cut its full-year earnings forecast.

2024-04-18T00:26:41Z

Consumer confidence slides with confirmation of recession - ANZ survey

Consumer confidence has been knocked down putting an end to a steady improvement in sentiment over recent months.

2024-03-27T22:19:30Z

Lower interest rates getting closer - Reserve Bank Governor Adrian Orr

The tide is turning on inflation, and RBNZ governor Adrian Orr says "we're now in a much happier space".

2024-03-27T20:19:19Z

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