RBNZ can't say if or when it may approve AMP Life sale

Jenny Ruth
Thu, 19 Mar 2020

The Reserve Bank said it won't approve AMP Life's sale of its New Zealand life insurance business if it is "not comfortable" with it and said it can't provide a time frame for a decision.The central bank also hinted that it hasn't yet received all the information it needs to make such a decision.AMP announced the sale of its life businesses on both sides of the Tasman to Bermuda-based Resolution Life for A$3.3 billion in October 2018.In July last year, the Reserve Bank kyboshed that deal.AMP had expected the prudential regulator would allow Res...
Policy
Auckland Council needs to fill $750m shortfall
Brent Melville | Wed, 15 Jul 2020

Auckland Council is facing a "larger than expected" fiscal hole of $750 million this year, including a provision of $224 million to shore up its creaking water infrastructure. In announcing its dec...

Retail
Ardern hints at mandatory contact tracing for businesses
Victoria Young | Wed, 15 Jul 2020

Prime Minister Jacinda Ardern today warned businesses to encourage contact tracing or she might force it upon them. “My message to businesses is to put that poster up. We’ve always said it was volu...

Economy
GAVIN EVANS: Southland jobs sacrificed to confused energy policy
Gavin Evans | Wed, 15 Jul 2020

The 2,600 jobs to be sacrificed in Southland next year are a high price to pay for confused energy policy and a multi-decade decline in this country’s economic ambitions. Despite the writing being...