New Zealand's Latest Breaking News, Business, Sport, Weather, Entertainment, Politics

Latest FromTamsyn Parker

People who have life insurance with AIA New Zealand will be able to join its Vitality programme from June. Photo / Getty Images

BUSINESS

$4000 reward: Insurer cuts rates for 'healthy' lifestyles

20 Apr, 2019 8:40am
6 minutes to read

NZ's largest life insurer is hoping to shake-up the market with a new health programme.

AIG has been a major sponsor of the All Blacks and it uses Richie McCaw in its marketing material Photo/Norrie Montgomery.

BUSINESS

Insurer's parent hoovers up higher dividend

17 Apr, 2019 11:06am
2 minutes to read

The local arm of insurer AIG paid a higher dividend to its parent last year.

Kiwis are among some of the worst savers in the developed world. Photo/file.

BUSINESS

Kiwis among world's worst savers

17 Apr, 2019 9:52am
3 minutes to read

Kiwis are among some of the worst savers in the developed world.

The Inland Revenue has cut 770 full time equivalent roles since 2016. Photo/Janna Dixon.

BUSINESS

IRD half way through 1500 job cull

15 Apr, 2019 11:08am
2 minutes to read

The tax department will cut 1500 jobs by 2021.

More than 1.5 million Kiwis are due a tax refund this year while 240,000 people are likely to owe money to Inland Revenue. Photo / 123rf

BUSINESS

1.6 million Kiwis set for tax refunds: Are you one of them?

15 Apr, 2019 7:43am
5 minutes to read

The Inland Revenue is shutting down its online services from Thursday for a week.

Cindy Hook, Asia Pacific chief executive for Deloitte, says men need to push for more women at the top. Photo/Supplied.

BUSINESS

Men need to take the lead on gender equality: top accounting boss

14 Apr, 2019 4:17pm
4 minutes to read

A top boss at Deloitte says men need to push for gender equality, not just women.

Chorus chief executive Kate McKenzie says it needed to do more to mitigate the risks around breaches in employment law for sub-contracted migrant workers. Photo/Peter Meecham.

BUSINESS

Chorus black-lists 22 companies from UFB work

13 Apr, 2019 8:30am
5 minutes to read

Chorus implement new measures aimed at stopping migrant worker exploitation.

An independent report on Chorus and its subcontractors has found more could have been done to prevent worker exploitation. Photo/Peter de Graaf.

BUSINESS

Chorus should have done more to mitigate worker exploitation risk: report

12 Apr, 2019 8:58am
4 minutes to read

A report into Chorus and its subcontractors has been released.

Kiwibank and NZ Post are ditching their co-location model. Photo / Sadie Beckman

BUSINESS

Kiwibank to close two Auckland branches as shake-up continues

11 Apr, 2019 8:12am
4 minutes to read

Kiwibank is to close two branches in Ellerslie and Otahuhu as it splits from NZ Post.

Saving 10pc of an average salary and investing in growth fund could add up to $1.5m. Photo / 123RF

BUSINESS

How the average earner could save $1.5m in KiwiSaver

11 Apr, 2019 5:00am
5 minutes to read

Saving 10pc of an average salary and investing in growth fund could add up to $1.5m.

Gina Dellabarca, head of human resources and corporate affairs at Westpac New Zealand. Photo/Phil Walter.

BUSINESS

Why flexible working doesn't work in practice

8 Apr, 2019 12:30pm
3 minutes to read

Flexible working sounds good but many still aren't comfortable leaving the office loudly.

ANZ says it will resume advertising on Facebook in the coming weeks. Photo/Dean Purcell.

BUSINESS

NZ's biggest bank set to return to social media advertising

8 Apr, 2019 10:18am
4 minutes to read

The return of the bank will bring the industry-wide stand-off to an end.

Sir Stephen Tindall's investment arm K1W1 is supporting KiwiSaver provider Simplicity, set up by Sam Stubbs, through a $1.5m loan.

BUSINESS

Sir Stephen Tindall's K1W1 to back KiwiSaver start-up Simplicity

8 Apr, 2019 6:53am
2 minutes to read

Sir Stephen Tindall's investment fund has given a loan to Simplicity.

ASB and BNZ have launched three year fixed term mortgage rates of 3.95 per cent. Photo/Michael Craig.

BUSINESS

Mortgage wars: 3 year rates now below 4%

6 Apr, 2019 9:20am
5 minutes to read

Two major banks are now offering sub-4 per cent rates over three years.

Susan Taylor, chief executive of Financial Services Complaints, says it is the first time it has terminated a membership because a company didn't pay an award.

BUSINESS

Finance company blocked from offering consumer loans after dispute

5 Apr, 2019 5:00am
6 minutes to read

Finance company had its membership of dispute scheme cancelled after it didn't pay award.

AMP New Zealand saw its funds under management drop last year, according to figures from Strategic Insight. Photo/Scott Barbour.

BUSINESS

AMP NZ loses funds under management while rivals gain

4 Apr, 2019 9:08am
2 minutes to read

AMP's funds under management have fallen while other major providers gained.

Ian Narev, a Kiwi and former chief executive of Commonwealth Bank of Australia has resurfaced in a new role at recruitment firm Seek. Photo/Supplied.

BUSINESS

CBA's former Kiwi boss recruited by Seek

2 Apr, 2019 2:19pm
2 minutes to read

Kiwi Ian Narev is to take up a role at Seek a year after leaving Commonwealth Bank.

Tax Working Group chairman Sir Michael Cullen has been paid more than $84k for his work so far. Photo/Mark Mitchell.

BUSINESS

Tax windfall: Michael Cullen paid $84,000 for 'part-time' role

2 Apr, 2019 9:44am
2 minutes to read

Sir Michael Cullen has earned more than $84k as chair of the Tax Working Group.

Inland Revenue says payday filing is designed to make the tax system more accurate. Photo/Supplied.

BUSINESS

Up to half of SME employers not ready for biggest payday change in 20 years - MYOB research

1 Apr, 2019 10:43am
3 minutes to read

Many employers still aren't ready for the changes that come into effect today.

People can increase their KiwiSaver contributions easily now but experts say it should be a considered decision. Photo / File

BUSINESS

KiwiSaver: Should you increase your contribution rate?

1 Apr, 2019 5:00am
4 minutes to read

KiwiSaver members now have the option to contribute at 6pc and 10pc but should they?

BUSINESS

Employers brace for big tax shake-up

30 Mar, 2019 8:19am
5 minutes to read

Some business owners are worried payday filing will add time and increase payroll costs.

Administration and legal costs are adding up for investors in failed companies Halifax and CBL Corporation. Photo/Duncan Brown.

BUSINESS

$576 an hour for administration work on failed Halifax

29 Mar, 2019 2:10pm
2 minutes to read

Administration and legal costs are taking a hefty toll on two failed companies.

All current retirees are spending more than what they get in NZ Super. Photo / Getty Images

BUSINESS

The magic amount you need for a comfortable retirement

28 Mar, 2019 11:10am
4 minutes to read

All current retirees are spending more than what they get in NZ Super.

One problem is the proposals do not treat all investors the same. Photo / 123RF

BUSINESS

Capital Gains Tax: What it means for KiwiSaver

27 Mar, 2019 5:00am
8 minutes to read

One problem is the proposals do not treat all investors the same.

Arms and ammunition continue to feature on some investment portfolios. Photo/Getty Images.

BUSINESS

Does your KiwiSaver invest in guns?

25 Mar, 2019 8:44am
6 minutes to read

What KiwiSaver providers are doing about gun-related investments.

Kiwi investors confront the online giants. Photo / 123RF

BUSINESS

Guns, Facebook and Google - fund managers' dilemma

23 Mar, 2019 5:00am
8 minutes to read

KiwiSaver providers say they are talking to Facebook about concerns over the terror video.

A woman has been compensated by ASB after discovering the bank did not claim for her KiwiSaver government contributions. Photo/Richard Robinson.

BUSINESS

Woman shocked by funding error from Kiwisaver provider

21 Mar, 2019 3:20pm
5 minutes to read

A KiwiSaver provider didn't apply for a woman's government contributions.

A sea captain has lost his long-running tax battle. Photo/Getty Images.

BUSINESS

Globe-trotting sea captain loses NZ tax battle

20 Mar, 2019 4:18pm
4 minutes to read

A globe-trotting sea captain has lost a battle against the New Zealand tax department.

First home buyers are borrowing an average of $400k to get on the property ladder, analysis by KPMG shows. Photo/Michael Craig.

BUSINESS

Average first-home buyer signs on for $400k mortgage

20 Mar, 2019 8:05am
3 minutes to read

There a concerns about first home buyer's reliance on KiwiSaver for home deposits.

Inland Revenue says it has identified an isolated issue with KiwiSaver and working to fix it as soon as possible. Photo / File

BUSINESS

KiwiSaver cash 'mistakenly' sent to IRD

18 Mar, 2019 5:00am
3 minutes to read

A man's KiwiSaver contributions were mistakenly sent back to the Inland Revenue.

The offer period for Restaurant Brands - owner of the KFC franchise in New Zealand - has been extended. Photo/Bevan Conley.

BUSINESS

Longer wait for Restaurant Brands' payout

14 Mar, 2019 12:38pm
2 minutes to read

Shareholders who sold into the Finaccess offer will now have a longer wait for payment.

Spark chief executive Simon Moutter is the largest big company boss to come under fire from MP Shane Jones. Photo/Dean Purcell.

BUSINESS

Comment: Moutter attack the perfect distraction by Jones

14 Mar, 2019 11:52am
2 minutes to read

More angst at corporate NZ or just a useful distraction for Shane Jones?

Westapac has started lending on pre-fab homes. Photo/123RF.

BUSINESS

How to cut $50k off the cost of building a new home

14 Mar, 2019 5:00am
4 minutes to read

First bank to offer pre-fabricated home lending from the start.

BUSINESS

IAG responds to claims it's stopped taking on new Wellington clients

13 Mar, 2019 4:50pm
3 minutes to read

Home insurer IAG says it is still open for new business in Wellington.

Investors will have to wait at least 12 months to get their money back. Photo/File.

BUSINESS

Accounting 'irregularities': Halifax investors face long wait to get money back

13 Mar, 2019 10:27am
3 minutes to read

Administrators paint bleak picture.

Around 570,000 people in KiwiSaver may be worse off under proposed capital gains taxes. Photo / Getty Images

BUSINESS

One in five KiwiSaver members may be worse off under CGT proposals

12 Mar, 2019 5:00am
5 minutes to read

Around 20 per cent of people in KiwiSaver maybe worse off under capital gains proposals.

Martin Stearne, chairman of Capital Markets 2029, is leading an industry review of the capital markets. Photo/Doug Sherring.

BUSINESS

The interview: Martin Stearne

9 Mar, 2019 5:00am
8 minutes to read

Martin Stearne says the capital markets aren't broken but there is work to be done.

New Reserve Bank assistant governor Christian Hawkesby was given an axe-throwing send off party by his former colleagues at Harbour Asset Management. Photo/Warren Buck.

BUSINESS

Axe-throwing send off for new RBNZ assistant governor

8 Mar, 2019 12:47pm
2 minutes to read

Fund manager gives axe-throwing send-off for new Reserve Bank assistant governor.

George Carter, managing director of Nikko Asset Management in New Zealand. Photo/Supplied.

BUSINESS

New tech gives small investors access to big fund manager

6 Mar, 2019 1:56pm
3 minutes to read

A new tool will give retail investors direct access to a big fund manager.

Blair Harrison has been appointed senior manager listings and issuer services New Zealand, for the ASX.

BUSINESS

ASX appoints first man on the ground

5 Mar, 2019 6:51am
2 minutes to read

The Australian Securities Exchange has hired its first NZ-based employee.

Naomi Ballantyne, managing director of Partners Life says cutting commissions won't fix behaviour issues of financial advisers. Photo/Greg Bowker.

BUSINESS

Life insurer boss hits back over incentives

5 Mar, 2019 5:00am
4 minutes to read

A life insurer has hit back at calls by the regulator that commissions need to change.

Clive Fernandes, founder and owner of National Capital - a new online financial advice service for KiwiSaver. Photo/Supplied.

BUSINESS

New fin-tech to give KiwiSaver advice

4 Mar, 2019 5:00am
4 minutes to read

New online service uses algorithms to help customers choose the right fund.

The reception area was cordoned off after maggots began falling from the ceiling. Photo/Supplied.

BUSINESS

Vodafone receptionist was 'forced to work' as maggots fell from ceiling

1 Mar, 2019 5:40pm
5 minutes to read

A former Vodafone receptionist claims she was bullied into working under falling maggots.

Big listed companies have reduced their reliance on bank debt in the last year. Photo/Michael Craig

BUSINESS

Big companies wean off bank debt

1 Mar, 2019 12:31pm
2 minutes to read

NZ's biggest listed companies have moved away from bank debt.

Could BNZ chief executive Angela Mentis be heading back over the ditch to lead its parent National Australia Bank? Photo/Supplied.

BUSINESS

Could BNZ boss be next NAB chief?

1 Mar, 2019 12:29pm
2 minutes to read

Bank of New Zealand chief executive Angela Mentis is a contender.

Sky City's promise of a $50 million share buy back wasn't enough to win over analysts. Photo/Peter Meecham.

BUSINESS

NZ reporting season: Who were the winners and losers?

1 Mar, 2019 12:26pm
2 minutes to read

The reporting season is nearly at an end so which company did best and worst?

Banks have loosened up lending a little but still remain well below the Reserve Bank's cap. Photo/Chris Loufte.

BUSINESS

Banks loosen up on low deposit lending

28 Feb, 2019 12:17pm
3 minutes to read

But it still remains well below the Reserve Bank's newly adjusted cap.

The Warehouse has stopped accepting cheques after a decline in their use. Photo/Paul Taylor.

BUSINESS

Big NZ retailer stops accepting cheques

28 Feb, 2019 5:00am
2 minutes to read

A drop in the use of cheques has prompted a Kiwi retailer to stop accepting them.

More money for some, less for others in KiwiSaver tax proposals. Photo/123RF

BUSINESS

Warnings over proposed tax changes to KiwiSaver

28 Feb, 2019 5:00am
5 minutes to read

Taking tax on investments and giving back on other taxes - who wins and who loses?

Embattled Fuji Xerox is now facing strike action by its engineers. Photo/Artists impression, supplied.

BUSINESS

Fuji Xerox workers strike over pay issues

25 Feb, 2019 11:55am
4 minutes to read

Fuji Xerox engineers have gone on strike today.

Banking Ombudsman Nicola Sladden has increased the claim cap from $200k to $350k. Photo / File

BUSINESS

Ombudsman ups bank claim limit to $350k

25 Feb, 2019 5:00am
2 minutes to read

Out of pocket banking customers will now be able to claim for up to $350k.

Investment scammers who set up companies and bank accounts are targeting high achieving New Zealanders. Photo / 123RF

BUSINESS

Be warned: Scammers targeting high-achieving Kiwis

23 Feb, 2019 5:00am
6 minutes to read

High achieving New Zealanders are being targeted by investment scammers.

Sir Michael Cullen's Tax Working Group has called for KiwiSaver to be tweaked. Photo / File

BUSINESS

Cullen's bob each way on KiwiSaver

21 Feb, 2019 6:20pm
3 minutes to read

The government's contribution to KiwiSaver should be paid to people on parental leave.

A property expert predicts the changes will cause overcrowding. Photo/File.

BUSINESS

Expert's warning: tax changes will increase 'overcrowding'

21 Feb, 2019 1:50pm
4 minutes to read

Higher rent, rental shortages and overcrowding, property experts' CGT warning.

A new online tool will allow KiwiSaver investors to see exactly what companies their money is being invested into. Photo/File.

BUSINESS

Does your KiwiSaver invest in nuclear weapons? Now you can find out

21 Feb, 2019 6:56am
2 minutes to read

KiwiSaver funds aren't always squeaky clean.

Contact Energy is looking to raise another $100 million to fund its renewable energy plans. Photo/supplied.

BUSINESS

Contact Energy's interest rate so low it's on par with bank offers

20 Feb, 2019 11:48am
2 minutes to read

A bond issue which has got some scratching their heads.

The AA already has a joint venture with Suncorp in the form of AA Insurance. Photo/Marcus Bailey.

BUSINESS

AA ditches Kiwi bank for Oz insurer

20 Feb, 2019 11:44am
Quick Read

The AA has entered into a third joint venture with Australian insurer Suncorp.

Kiwibank chief executive Steve Jurkovich. Photo/Doug Sherring.

BUSINESS

Kiwibank shareholders may have to tip in more money

20 Feb, 2019 10:00am
4 minutes to read

Kiwibank's result has been boosted by strong growth in its loan and deposit book.

Roger Beaumont, new chief executive of the New Zealand Bankers Association. Photo/Dean Purcell.

BUSINESS

Bank's cheerleader says there' s work to do

16 Feb, 2019 5:00am
7 minutes to read

New banking industry boss Roger Beaumont says banks still have a lot to offer people.

Napier Port's hopes for an IPO this year has more chance of success because it had been subject to public consultation. Photo / Warren Buckland

BUSINESS

Stock Takes: SkyCity warned over debt blowout risk

15 Feb, 2019 5:00am
4 minutes to read

SkyCity's credit rating could come under pressure if its debt ratios blow out.

ANZ - the country's largest bank by assets - made the biggest cut-backs reducing its branch numbers by 12 to 179. Photo / File

BUSINESS

NZ banks slash branch numbers

14 Feb, 2019 4:50pm
4 minutes to read

Which banks cut back on branches and ATMs last year?

Casino operator SkyCity Entertainment Group has been put on notice over its credit rating. Photo/Peter Meecham.

BUSINESS

SkyCity's debt blow-out warning

14 Feb, 2019 11:24am
2 minutes to read

An agency has warned SkyCity that its credit rating could be lowered if debt rises.