Business
Finance
Bank executive incentives a key focus for regulators
By Paul McBeth June 24 (BusinessDesk) - The Financial Markets Authority and Reserve Bank want a better grasp of how bank executive incentives have evolved and what controls are in place to avoid conflicts with sales practices. The regulators today said all banks have outli...
Finance
Appeal Court puts ANZ back in the gun over interest rate swaps
By Paul McBeth June 24 (BusinessDesk) - The Court of Appeal has overturned a ruling that ANZ Bank New Zealand doesn't have to compensate a Taranaki farming family for the way it had represented the risk attached to interest rate swaps. The High Court turned down a bid by S...
Retail
Meridian to supply Australian online retailer Kogan.com
By Gavin Evans June 24 (BusinessDesk) - Meridian Energy’s Australian business has agreed to supply power and gas to a new energy service being started by online retailer Kogan.com. The multi-year agreement is expected to take effect before the end of 2019. Powershop will su...
Finance
RBNZ demands assurance ANZ New Zealand is operating prudently
By Rebecca Howard June 24 (BusinessDesk) - The Reserve Bank is demanding ANZ Bank New Zealand provide assurance it is operating in a prudent manner after it was censured in May and the bank says it will work with the regulator. The central bank is using powers under sectio...
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