Finance
Explore the latest finance news by BusinessDesk's team of reporters around New Zealand.
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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Law & Regulation
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David Chaplin: DAVID CHAPLIN: Shining a torch on the dark art of KiwiSaver performance forecasts
Like cigarettes and painkillers, all retail investment products must carry a standard health warning.Somewhere in every KiwiSaver or other investment product disclosure statement, fund update or ad you will find words to the effect of ‘past performance is not indicative of future...
Law & Regulation
RBNZ bank capital proposals slammed in advice to minister
The Reserve Bank's proposals, now policy, to increase bank capital requirements were unnecessarily risky, out of whack with international standards and informed by low quality information. That's according to independent advice sought last year by then Economic Development Min...
Law & Regulation
Regulator sues ANZ over credit card insurance
The Financial Markets Authority has filed High Court proceedings against ANZ Bank New Zealand, alleging it charged some customers for credit card repayment insurance policies that offered those customers no cover. The FMA claims the bank issued duplicate policies to some custo...
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