UPDATE: Xero posts small net profit as customers pass 2 million
By Jenny Ruth | Thu, 07 Nov 2019
(Updates first and second pars to add share price reaction) Xero shares jumped more than 6.6 percent after it announced better-than-expected first-half results including a small net profit, positiv...
BNZ's net profit falls slightly as bad debts rise
By Jenny Ruth | Thu, 07 Nov 2019
Bank of New Zealand's annual net profit fell marginally as operating expenses rose faster than net interest income and as charges against profit for bad debts jumped 39 percent, although they remain l...
Questions over NZ govt proposal to fund foreign venture capital managers
By Jenny Ruth | Wed, 06 Nov 2019
Another of New Zealand's home-grown venture capitalists is questioning why the New Zealand government is proposing to provide funding to foreign managers."With no disrespect to the managers currently...
Construction provisions remain contained despite SkyCity disaster: Fletcher
By Jenny Ruth | Wed, 06 Nov 2019
Fletcher Building says it remains within the construction provisions announced in February 2018 despite the impact of the SkyCity International Conference Centre project fire."Fletcher Building is wor...
Sharesies adds another tailwind to surging NZX volumes
By Paul McBeth | Wed, 06 Nov 2019
The entrance of micro-investment platform Sharesies to direct NZX share trading helped more than double volumes on the exchange last month. Share trading had already been on the rise in recent mont...
RBNZ's warning to general insurers
By Victoria Young | Tue, 05 Nov 2019
The governor of the Reserve Bank of New Zealand has warned the wider insurance industry that regulators will be back for them following a damning report into the conduct of life insurers. Speakin...
Westpac's stressed dairy loans tick up
By Jenny Ruth | Tue, 05 Nov 2019
Some heavily indebted dairy farmers are barely covering their interest payments despite relatively strong prices for several seasons, Westpac NZ chief executive David McLean says."The ones who've got...
Westpac NZ profit rises 3%; RBNZ releases it from capital purgatory
By Jenny Ruth | Mon, 04 Nov 2019
Westpac New Zealand lifted annual net profit 3 percent, a bright spot in its Australian parent's "disappointing" year with group profit falling 16 percent.The parent bank is also seeking to raise A$2....
Australia's Kirwood Capital gets seat at Harmoney board
By Paul McBeth | Mon, 04 Nov 2019
Boutique Australian private equity firm Kirwood Capital will play a hands-on role at Harmoney Corp after paying $15 million for a 13.4 percent stake in the peer-to-peer lender and getting a seat on th...
Fiscal pros and cons of baby boomers
By Jenny Ruth | Fri, 01 Nov 2019
Baby boomers are usually considered a huge fiscal problem as they retire and start drawing ever more superannuation and health spending just as the working-age population available to support them dwi...
ANZ grapples with New Zealand capital question
By Paul McBeth | Thu, 31 Oct 2019
Australia & New Zealand Banking Group has the vexed New Zealand question top of mind, with the capital proposals of trans-Tasman regulators a particular focus for the lender. Its New Zealand...
No legal shield for company directors who say climate change 'doesn't exist'
By Pattrick Smellie | Thu, 31 Oct 2019
Company directors and fund managers who fail to manage investment risks associated with climate change are failing in their legal duties under the Companies Act, according to a legal opinion commissio...