Finance
Explore the latest finance news by Business Desk.
Law & Regulation
Insurers have leaned on actuaries – RBNZ review
Actuaries have quit rather than give in to pressure from insurance companies to change their advice and, in at least one case, an insurer sacked their actuary. That’s among the findings of the Reserve Bank’s review into the role of appointed actuaries, who are tasked with meas...
Retail
Cash loses currency in covid era
The Reserve Bank poured more than half a billion of extra cash into circulation expecting an “unprecedented” demand for physical currency in the lead up to the national lockdown. While it appears that the central bank was preparing for serious disruption to the cash supply dur...
Property
AMP Wealth addresses flexi work wish
AMP Wealth Management will exit its offices in both Auckland and Wellington, but has quietly taken the 'for sale' sign off its New Zealand business. The wealth manager, which has about $6 billion in funds under its KiwiSaver schemes and the same again across its corporate supe...
Property
Fletcher negotiates easier bank covenants but says it doesn't need them yet
Fletcher Building said it has negotiated easier covenants through to the end of 2021 with its bankers in case they become necessary as the company navigates through the coronavirus crisis. But if it does need the easier covenants, Fletcher has agreed not to pay a dividend unti...
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