Insurers face $30b in claims from Christchurch quake
Insurers are expecting claims worth some $30 billion and counting from the Canterbury earthquakes...
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Billionaire banking on China
Kerry Stokes is among the foreigners backing a giant Chinese bank. Whether that bet pays off matters not just for him, but for the global economy.
ANZ reveal record $1b profit
ANZ Bank has reported a 25 per cent rise in annual profit in New Zealand, beating the $1 billion barrier with the help of a 59 per cent fall in bad debts.
Westpac posts 41pc rise in cash earnings
Westpac New Zealand has posted a 41 per cent rise in annual cash earnings after a big drop in impairment charges as rise in income as net interest margins rose.
Wages up, but private sector lags
Wage increases accelerated in the last quarter, but is still soft enough to keep the Reserve Bank from hiking interest rates anytime soon. The labour cost index rose 0.6 percent in the last...
Building consents sink in September as growth stalls
New Zealand building consents stalled in September with its first monthly decline in five eroding gains over the past two months.
World shares soar on Euro bank deal success
Shares soared in Europe overnight and are well up on Wall St after European leaders agreed on a Greek debt deal.
OCR: rates left on hold at 2.5pc
The Reserve Bank has this morning left the Official Cash Rate unchanged at a record low 2.5 per cent. The move was widely anticipated, with this week's inflation numbers coming in lower than predicted.