Business
Retail
Consumers may emerge with curtailed spending habits
Spending has lifted significantly as New Zealand has emerged from national lockdown but an Otago University professor warns any splurge won’t last.
Finance
SBS, Cooperative banks expect little impact from Fitch downgrade
SBS Bank and Cooperative Bank expect little immediate impact from Fitch Ratings downgrading their subordinated debt to below investment grade. Fitch affirmed both banks' main "BBB" ratings although it changed the outlook to negative because of the economic impact of the corona...
Infrastructure
Liquidity test to trigger protection for minnow power suppliers
Power retailers seeking relief from lines charges under the Electricity Authority’s new protection scheme will have to demonstrate a 25 percent increase in their overdue billings compared with pre-covid levels. To qualify firms must have been solvent at Dec. 31, but now face “...
Finance
Winners and losers of FMA levy hike
The financial services industry must cough up more cash for its watchdog because the government is cutting the amount it funds the Financial Markets Authority to 17 percent of its total budget by 2023. The government currently pays 25 percent of the Financial Markets Authority...
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