Latest Finance Headlines

'Under pressure' Weldon froze funding for Grain Exchange

Thu, 5 May 2016 16:55:39 +1200 | BusinessDesk

May 5 (BusinessDesk) - Former NZX chief executive Mark Weldon was under pressure from his board over the performance of acquisitions and over his own performance when he stopped funding for Clear Grain Exchange, Wellington's High Court has heard.More >>

Govt’s Inaction Continues to Oblige Foreign Corporates

Thu, 5 May 2016 16:48:34 +1200 | New Zealand First Party

The government is dragging its feet over tackling the issue of multinationals ripping off New Zealand with their avoidance of tax, says New Zealand First. More >>

Rewards the most-sought credit card feature

Thu, 5 May 2016 14:13:42 +1200 | Canstar

CANSTAR releases Credit Card Rewards Star Ratings, reporting on 45 credit cards from 10 financial institutions. More >>

Warehouse Money Purple Visa Card Receives 5-star Rating

Thu, 5 May 2016 12:14:31 +1200 | The Warehouse Group

The Warehouse Money Purple Visa Card has been awarded a 5-star rating in the latest Canstar Credit Card Rewards star ratings report – just six months after launching. More >>

Bank of NZ bad debt provision jumps 83%

Thu, 5 May 2016 12:10:21 +1200 | BusinessDesk

May 5 (BusinessDesk) - Bank of New Zealand's charge for bad and doubtful debts jumped 83 percent in the first half as the local unit of National Australia Bank doubled its provision against its dairy book in the face of a sustained downturn.More >>

Strategies for growth help to secure momentum for BNZ

Thu, 5 May 2016 11:01:53 +1200 | BNZ

Strong underlying performance has seen the Bank of New Zealand (BNZ) report a statutory net profit for its banking group1 of NZ$451 million for the half year to 31 March, 2016. More >>

HiFX Morning Update, May 5 2016

Thu, 5 May 2016 08:43:41 +1200 | HiFX

The NZDUSD opens at 0.6878 (mid-rate) this morning. The NZD has fallen further along with other commodity-linked currencies, as risk appetite continues to wane. More >>

Weldon's bet was 'highest-risk strategy'

Wed, 4 May 2016 14:43:42 +1200 | BusinessDesk

May 4 (BusinessDesk) - NZX's acquisition of Clear Grain Exchange in 2009 was a high-risk strategy that assumed it could add value to the barely profitable Australian business even though former chief executive Mark Weldon had been told it could take five to ...More >>

Unemployment rise demands Budget response

Wed, 4 May 2016 12:14:49 +1200 | New Zealand Labour Party

The rise in unemployment shows the Budget must contain concrete plans for job growth that deliver for all New Zealanders, not just the few at the top, says Labour’s Finance spokesperson Grant Robertson.More >>

HiFX Morning Update, May 4 2016

Wed, 4 May 2016 09:17:28 +1200 | HiFX

The NZDUSD opens at 0.6915 (mid-rate) this morning. The NZD along with other commodity-linked currencies has fallen over the past 24hrs. Ongoing concerns about global growth following yesterday’s RBA rate cut and disappointing manufacturing data out of both China ...More >>

Weldon saw 'Agri-Bloomberg' in Grain Exchange: Ralec counsel

Tue, 3 May 2016 19:44:29 +1200 | BusinessDesk

May 3 (BusinessDesk) - Former NZX chief Mark Weldon regarded the Clear Grain Exchange as an 'Agri-Bloomberg' and was uninterested in previous owner Ralec's view of its prospects, Ralec's counsel told the Wellington High Court in opening submissions.More >>

Positive outlook for remainder of 2016

Tue, 3 May 2016 14:24:14 +1200 | ASB Bank

Gross Domestic Product growth is tipped to near the 4% mark for 2016, according to the latest ASB Quarterly Economic Forecasts. More >>

ANZ New Zealand first-half cash profit falls 11%

Tue, 3 May 2016 11:52:43 +1200 | BusinessDesk

ANZ New Zealand first-half cash profit falls 11% on software charge, while net interest income rises More >>

FMA issues formal warning to Craigs

Tue, 3 May 2016 11:33:33 +1200 | Financial Markets Authority

The Financial Markets Authority (FMA) has today issued a formal warning to Craigs Investment Partners Limited (Craigs) under section 80 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the AML/CFT Act). More >>

FMA warns Craigs breaching anti-money laundering rules

Tue, 3 May 2016 11:02:08 +1200 | BusinessDesk

May 3 (BusinessDesk) - The Financial Markets Authority has opted for a formal warning rather than taking legal action against sharebroking firm Craigs Investment Partners for breaching a section of the Anti-Money Laundering and Countering Financing of ...More >>

ANZ New Zealand builds strength and efficiency

Tue, 3 May 2016 10:59:01 +1200 | ANZ Bank

Australia and New Zealand Banking Group Limited (ANZ) 2016 half year results were released today, with ANZ New Zealand ANZ New Zealand represents all of ANZ’s operations in New Zealand, including ANZ Bank New Zealand Limited, its parent company ANZ Holdings ...More >>

Westpac NZ seeks more agriculture market share

Mon, 2 May 2016 17:04:10 +1200 | BusinessDesk

May 2 (BusinessDesk) - Westpac New Zealand says it wants to lift its market share of agricultural lending over time to 20 percent from the current 12.6 percent. More >>

Westpac New Zealand: sound performance, strong investment

Mon, 2 May 2016 14:40:48 +1200 | Westpac New Zealand

Westpac New Zealand1 has delivered cash earnings2 of $445 million for the six months ended 31 March 2016, up 2% on the same period last year. The bank has also further strengthened its funding position and increased investment to transform the customer ...More >>

Call for more care setting up joint accounts

Mon, 2 May 2016 13:23:21 +1200 | Banking Ombudsman

The Banking Ombudsman Scheme is urging people setting up shared accounts to think carefully about how they allow users to operate such accounts after continuing to see a steady stream of complaints about “account mandates”.More >>

Commission recoups money for New Zealand trade mark holders

Mon, 2 May 2016 12:27:06 +1200 | Commerce Commission

The Commission has reached an interim agreement with TM Publisher, an overseas company who sent invoices for unsolicited services to New Zealand trade mark holders. More >>

 

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