Finance
Explore the latest finance news by BusinessDesk's team of reporters around New Zealand.
Policy
No Team NZ wrongdoing, but record-keeping poor: report
Emirates Team New Zealand and America’s Cup Events Ltd have been cleared of any financial wrongdoing, but could have kept better records, according to a report commissioned by the Ministry of Business, Innovation and Employment. MBIE and Auckland Council sought the investigati...
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First Mortgage Trust
First Mortgage Trust is an investment manager that specialises in property lending. For nearly 30 years we’ve been helping New Zealanders protect and grow their wealth.
Low interest rates kill Bonus Bonds - bye boomers
ANZ has announced it will kill off its Bonus Bonds Scheme and stop taking new money. What finally put the nail in the coffin for this outdated scheme? Low interest rates. In a statement on Wednesday morning, ANZ Investment Services (a subsidiary of ANZ Bank) said low intere...
Services
Cautious banks slow mortgage applications
Banks are taking five times longer to process mortgage applications than before the coronavirus crisis started and are seeking far more information on borrowers, mortgage brokers say. Bruce Patten at Loan Market said his service level agreement with one bank was that it would...
Suncorp NZ remediation bill mounts
Suncorp Group’s New Zealand division expects to spend three times as much to remediate historic discounting issues, but still managed to maintain its profitability.The Australian insurer is a major player in NZ with a suite of New Zealand brands including Vero Insurance, the AA I...
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