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

Latest FromTamsyn Parker

Travel through Hong Kong airport has been disrupted for days. Photo / Bloomberg

BUSINESS

Insurers cut off cover for Kiwis travelling to Hong Kong

15 Aug, 2019 6:20pm
4 minutes to read

Travel insurers have a different cut-off date from when they will cover Hong Kong claims.

Mobile Shop was put into liquidation after it received a record fine for a truck shop. Photo/Doug Sherring

BUSINESS

A truck shop targeting families went bust. The liquidator says associates are still at it.

15 Aug, 2019 6:05pm
6 minutes to read

The liquidator of a mobile truck shop has had challenges trying to realise its assets.

BUSINESS

Thousands of businesses yet to meet IRD's payday filing change

15 Aug, 2019 5:00am
3 minutes to read

Some businesses are still struggling to meet payday filing requirements.

Investors of the failed Ross Asset Management scheme are taking a class action suit against the ANZ. Photo/Christine McKay.

BUSINESS

Ponzi investors given deadline to join case against ANZ

14 Aug, 2019 6:10pm
3 minutes to read

ANZ has denied the claims.

Anna Rawlings new chair of the Commerce Commission. Photo/Dean Purcell.

BUSINESS

Commerce Commission boss Anna Rawlings on making a fair playing field

10 Aug, 2019 9:05am
8 minutes to read

New chair of the Commerce Commission talks about what drives her.

ASB bank has beefed up its compliance and risk staff and says more will be hired. Photo / 123RF

BUSINESS

ASB ramps up compliance and risk staff numbers

8 Aug, 2019 6:10pm
4 minutes to read

ASB bank has beefed up its compliance and risk staff and says more will be hired.

ASB has dropped its two year fixed mortgage rate to a new low. Photo/Glenn Jeffrey.

BUSINESS

First bank cuts rates in wake of cash rate cut

8 Aug, 2019 2:53pm
2 minutes to read

ASB has moved to cut both its home loan and on call savings rates.

BUSINESS

AMP NZ wealth management arm up for sale

8 Aug, 2019 9:39am
4 minutes to read

AMP puts its New Zealand wealth management business back up for sale.

ASB chief executive Vittoria Shortt has announced her second full year result as the bank's boss. Photo/Doug Sherring.

BUSINESS

$1.275 billion bonanza - ASB's ninth record profit in a row

7 Aug, 2019 10:11am
3 minutes to read

ASB bank has announced its full year profit.

The parent companies of New Zealand's major banks continue to finance companies involved in nuclear weapons. Photo/Supplied.

BUSINESS

Is your bank funding nuclear weapon-makers?

3 Aug, 2019 2:00pm
7 minutes to read

Banks are funding nuclear weapon makers to the tune of more than $4 billion.

KiwiSaver funds had a strong run in the last quarter. Photo / 123RF NZH 28

BUSINESS

Strong markets help bolster KiwiSaver funds to $57b

1 Aug, 2019 7:57am
2 minutes to read

Strong markets across the board helped boost KiwiSaver funds.

The Kiwi dollar fell in reaction to the US Federal Reserve rate cut. Photo/Brett Phibbs.

BUSINESS

NZ dollar falls on US rate cut

1 Aug, 2019 7:11am
2 minutes to read

NZ dollar fell against the US this morning in reaction to the Federal Reserve rate cut.

Hayden Wilson, a partner at Kensington Swan, said its combination with Dentons would give the firm global reach. Photo/supplied.

BUSINESS

NZ law firm to join with global giant

31 Jul, 2019 7:45am
3 minutes to read

The deal will give Kensington Swan global reach.

Commonwealth Vault which trades in gold and silver bullion and is New Zealand's largest safe deposit box supplier has been warned over anti-money laundering law breaches. Photo/Duncan Chard.

BUSINESS

NZ's largest safe deposit box supplier has 'little regard for money laundering risks': regulator

29 Jul, 2019 5:59pm
4 minutes to read

Commonwealth Vault hit with warning but says it is taking steps to comply with rules

Investors in failed ponzi scheme Ross Asset Management have filed a legal claim against the ANZ bank. Photo / Steven McNicholl

BUSINESS

More ponzi investors jump on board legal claim against ANZ

29 Jul, 2019 3:30pm
4 minutes to read

More than half of eligible RAM investors have now signed up to the claim against ANZ bank.

Punters can use a credit card to top up their MyLotto account but there are spending caps. Photo/Dean Purcell.`

BUSINESS

Regulator considers credit card ban for online gambling

29 Jul, 2019 5:00am
6 minutes to read

How would a ban on using credit cards affect businesses?

Andy Hamilton is to step down from his role as chief executive of The Icehouse . Photo/Supplied.

BUSINESS

Icehouse boss to depart after 18 years

26 Jul, 2019 10:30am
2 minutes to read

Who wants to be the next boss of the Icehouse?

Cove Insurance co-founders Andy Coon (left), Rob Coon and Brett Wilson want to use chat-bot technology to help speed up insurance claims. Photo / Supplied

BUSINESS

Insurance start-up attracts NYSE-listed investor

26 Jul, 2019 5:00am
3 minutes to read

Government funded New Zealand Venture Investment Fund also threw in more money.

Payday loans can charge as much as 500 per cent interest per annum.

BUSINESS

'Spirals of debt': Payday lenders face heat over loans with 100%-plus interest

23 Jul, 2019 6:14pm
6 minutes to read

Some parts of the finance sector want tougher rules to apply to Payday lenders.

ANZ bank is facing legal action by investors in failed Ross Asset Management. Photo/Steven McNicholl

BUSINESS

Ponzi scheme claim against ANZ could top $50m

22 Jul, 2019 7:00pm
5 minutes to read

The bank says it is also a victim of the Ross Asset Management collapse.

Households with a mortgage have more than three times their disposable income in debt. Photo/Michael Craig.

BUSINESS

It's on the house: Our $265bn mortgage debt monster

20 Jul, 2019 12:30pm
10 minutes to read

Mortgage debt is still rising faster than incomes.

There are concerns that nefarious companies may try to trade on New Zealand's good reputation. Photo / File

BUSINESS

Virtual office provider warned over anti-money laundering law breach

17 Jul, 2019 7:30am
3 minutes to read

Virtual office provider failed to meet anti-money laundering requirements.

BUSINESS

$3.3 billion deal at death's door: Reserve Bank's tough line on life insurance sale

16 Jul, 2019 6:15pm
6 minutes to read

AMP says its life insurance deal is unlikely to go ahead in its current form.

AMP says the deal to sell its life insurance arm is unlikely to go ahead. Photo/Dean Purcell.

BUSINESS

'Exceptionally disappointing': NZ regulator scuppers AMP Life sale

15 Jul, 2019 10:26am
4 minutes to read

AMP says it is exceptionally disappointed life insurance sale now unlikely to go ahead.

A man is unhappy about how the regulator has handled his complaint about a foreign exchange company. Photo / Greg Bowker

BUSINESS

Finance regulator accused of conflict of interest failure

14 Jul, 2019 6:00pm
3 minutes to read

The finance regulator has been accused of failing to manage a conflict of interest.

Peter Harris, managing director of CBL Corporation, says he is not to blame for the company's demise. Photo / File

BUSINESS

Boss of failed insurer CBL on why the Govt should step in

13 Jul, 2019 10:03am
6 minutes to read

Boss of failed insurer CBL says he doesn't want a fight but believes he must speak out.

Investors in Ross Asset Management have filed legal action against ANZ bank. Photo / File

BUSINESS

Ponzi scheme victims sue ANZ bank for tens of millions

12 Jul, 2019 6:10pm
5 minutes to read

Investors in Ross Asset Management have filed legal action against ANZ bank.

Ownership of Craigs Investment Partners is up in the air after Deutsche Bank announced a big shake-up of its operations this week. Photo / Joel Ford

BUSINESS

Continuous Disclosure: Ownership shake-up for big broker

12 Jul, 2019 6:06pm
6 minutes to read

An ownership shake up at a big broker and tighter ownership predicted for port float.

Investors are searching for funds which exclude fossil fuel investments. Photo/Nick Reed.

BUSINESS

Ethical mismatch between what consumers want and investment funds

10 Jul, 2019 8:15am
4 minutes to read

Consumers want to avoid fossil fuel and human rights violation.

Moola is facing action from the Commerce Commission. File photo / 123RF

BUSINESS

Payday lender charging 500pc interest faces legal action

8 Jul, 2019 11:54am
4 minutes to read

The Commerce Commission is taking action against Moola.

Banks say they are looking into restrictions around credit cards and gambling. Photo/Michael Craig.

BUSINESS

Gambling on the bank: Call for more credit card restrictions

8 Jul, 2019 5:00am
6 minutes to read

Are banks doing enough to stop Kiwis from getting into trouble with gambling?

Reserve Bank Governor Adrian Orr, right, and Deputy Governor Geoff Bascand, second right, with Mary Scholtens QC and John Trowbridge. Photo / Mark Mitchell

BUSINESS

Reserve Bank too lenient on CBL: Report

4 Jul, 2019 6:13pm
6 minutes to read

Central Bank says failure was CBL's fault as investors question disclosure.

Shareholders in the ANZ bank are worried about the controls in place at the bank in the wake of its expenses scandal. Photo/Christine McKay.

BUSINESS

What ANZ shareholders should be worried about

30 Jun, 2019 11:00am
6 minutes to read

What the ANZ shareholders think of the Hisco fiasco.

Access to KiwiSaver will be opened up to over 65 year olds to join from July 1. Photo / Lewis Gardner

BUSINESS

Unlocking KiwiSaver: Why 500,000 Kiwis will now be able to join

29 Jun, 2019 8:39am
4 minutes to read

A handful of law changes which take effect on July 1.

David Hisco, former chief executive of ANZ New Zealand. Photo / Sarah Ivey

BUSINESS

$10.75m home that sold for $6.9m: Hisco house sale raises tax issues for IRD

27 Jun, 2019 5:00am
3 minutes to read

Bank says it took advice at time of sale but won't say whether tax was paid.

Reserve Bank Governor Adrian Orr says ANZ remains sound and well capitalised. Photo/Mark Mitchell.

BUSINESS

Regulator asks ANZ to prove it's operating in 'prudent manner'

24 Jun, 2019 10:03am
3 minutes to read

ANZ will work with the Reserve Bank and a third party to review its capital model.

Ousted ANZ New Zealand boss David Hisco. Photo / Getty Images

BUSINESS

ANZ fiasco serves as wake-up call to employers

21 Jun, 2019 6:05pm
4 minutes to read

Employers are being urged to make sure their expenses policies are up to scratch.

Westpac New Zealand chief executive David McLean has made changes at the bank to boost women in leadership roles. Photo/Brett Phibbs.

BUSINESS

Why Westpac won't be asking what job candidates are paid

21 Jun, 2019 5:44pm
5 minutes to read

Westpac is taking steps to close the gender pay gap.

The private sector is lagging behind the state sector when it comes to women on boards. Photo/Getty Images.

BUSINESS

Pressure mounts on lack of women on private sector boards

21 Jun, 2019 8:38am
4 minutes to read

The state sector has hit a new record number of women on boards.

The Inland Revenue has found 1.5 million Kiwis paid the wrong tax on their investments in the last tax year. Photo / 123RF

BUSINESS

IRD 'morally wrong' for not paying $42m tax back, says financial adviser

20 Jun, 2019 6:30pm
7 minutes to read

When the tax department takes but does not give back.

Former ANZ New Zealand boss David Hisco. Photo / Getty Images

BUSINESS

How the major banks are responding to the Hisco expenses fiasco

20 Jun, 2019 6:12pm
6 minutes to read

Major bank reacts to the expenses dispute ANZ had with its now departed CEO.

New Zealanders have over-paid a huge sum of tax. Photo/Getty Images.

BUSINESS

Kiwis overpay $42m - and they won't get it back

19 Jun, 2019 11:19am
3 minutes to read

Nearly one million Kiwis have overpaid tax on their investments.

In a note to staff David Hisco said he accept accountability for

BUSINESS

Legal action predicted after top bank boss departs ANZ

17 Jun, 2019 7:00pm
6 minutes to read

Losing $6.4 million in equity will hurt former ANZ boss David Hisco.

Outgoing ANZ boss David Hisco had a long road to travel to the top. Photo/File

BUSINESS

Car park sweeper to bank boss: David Hisco's unlikely rise to the top

17 Jun, 2019 12:30pm
4 minutes to read

A look at the unlikely rise of car park sweeper.

Retirement Commissioner Diane Maxwell says the government needs to do some serious soul-searching.

BUSINESS

The interview: Diane Maxwell - why she won't be leaving quietly

15 Jun, 2019 2:20pm
9 minutes to read

Maxwell says the Government left her hanging for three years.

False hope? Kiwibuild's marketing under fire.

BUSINESS

Kiwibuild marketing giving 'false hope' to first home buyers

13 Jun, 2019 6:45pm
4 minutes to read

KiwiBuild accused of giving "false hope" to first home buyers.

Housing and Urban Development Minister Phil Twyford denied through a spokesman the Government was encouraging people to borrow $500k. Photo / Jason Oxenham

BUSINESS

KiwiBuild grilled over questionable mortgage marketing

13 Jun, 2019 5:00am
5 minutes to read

Is KiwiBuild encouraging people to take on too much debt?

The Government was warned a year ago about the over-taxing of KiwiSaver members. Photo / Kenny Rodger

BUSINESS

IRD says it will take action to stop KiwiSaver over-taxing

11 Jun, 2019 7:31am
6 minutes to read

The Government was warned about the over-taxing of KiwiSaver members last year.

Just one in five people have thought about protecting their income should they have an illness or accident. Photo / Supplied

BUSINESS

Why we insure our cars but not our income

10 Jun, 2019 8:00pm
3 minutes to read

Kiwis insure their cars and homes but not their income.

Bank of New Zealand says it won't make any regional branch closures for next three years. Photo/Lin Ferguson.

BUSINESS

Bank puts hold on regional branch closures until 2022

10 Jun, 2019 9:00am
2 minutes to read

BNZ has made a promise not to close regional branches for the next three years.

The Insurance Council claims Wellington's insurance market is not broken despite the rising cost of premiums. Photo / NZPA

BUSINESS

Is Wellington's insurance market broken?

10 Jun, 2019 8:46am
5 minutes to read

Insurance body says Wellington market is cheaper than other quake-risk cities overseas.

KiwiSaver providers are divided over investing in privately-owned New Zealand companies. Photo/Steven McNicholl.

BUSINESS

The 'massive issue with very lazy KiwiSaver managers'

4 Jun, 2019 11:34am
5 minutes to read

KiwiSaver providers are divided over the value of investing directly into NZ inc.

Diane Maxwell will finish as Retirement Commissioner at the end of the month.

BUSINESS

Diane Maxwell's exit heralds new Retirement Commissioner

4 Jun, 2019 5:00am
3 minutes to read

Retirement Commissioner Diane Maxwell will finish up her job at the end of June.

BUSINESS

How venture capital boost could help 100 start-ups

31 May, 2019 5:00am
5 minutes to read

Venture capital boost welcomed but the devil will be in the detail.

People are already questioning what they can insure, for how much and how long, says Reserve Bank governor Adrian Orr.

BUSINESS

Reserve Bank warns of insurance risk to house values

30 May, 2019 5:00am
5 minutes to read

Reserve Bank's insurance warning to high-risk property owners.

Reserve Bank governor Adrian Orr says risks to the financial system remain elevated. Photo/Mark Mitchell.

BUSINESS

Reserve Bank warning: household debts too high

29 May, 2019 8:12am
4 minutes to read

The Reserve Bank has released it latest report on the banking and finance sector.

The Auckland property market is flat to falling but experts don't expert the Reserve Bank to ease lending restrictions this week. Photo / Chris Loufte

BUSINESS

Could securing a mortgage get easier?

28 May, 2019 7:00pm
6 minutes to read

New data shows bank lending is well below the cap.

Retirement Commissioner Diane Maxwell has been cleared of bullying allegations. Photo/ Supplied

BUSINESS

Retirement Commissioner investigation handled 'shockingly'

27 May, 2019 3:10pm
5 minutes to read

Maxwell considers her next step as cost of bullying investigation revealed.

Hop Revolution's hop garden at Tapawera. Photo / Supplied

BUSINESS

New fund to invest in horticulture land

27 May, 2019 5:00am
4 minutes to read

A new fund will invest in a range of horticultural land opportunities.

Capital proposals will add $6000 a year to the cost of an average Auckland mortgage. Photo / Doug Sherring

BUSINESS

Westpac warning: Changes to add $6K a year to mortgages

24 May, 2019 7:30am
5 minutes to read

Westpac Bank says capital proposals will hit mortgage holders in the pocket.

TSB Bank has joined with three other NZ-owned banks in warning Reserve Bank capital proposals could make it harder for the smaller banks to compete. Photo/Supplied.

BUSINESS

NZ-owned banks speak out: proposals will make it harder to compete

23 May, 2019 6:20pm
4 minutes to read

Smaller Kiwi-owned banks warn capital proposals will make it harder to compete.

Medical Cannabis researchers (from left) Mark Lucas, Nic Foreman and PhD student Daniel Reason of Cannasouth Plant Research in their Hamilton research laboratory. Photo / File

BUSINESS

Green light on first sharemarket listing in two years

18 May, 2019 10:24am
6 minutes to read

A cannabis research company is hoping to raise up to $10 million to list on the NZX.