Finance
Explore the latest finance news by BusinessDesk's team of reporters around New Zealand.
Law & Regulation
FMA cage-rattling sees Westpac pledge to cut KiwiSaver fees
The Financial Markets Authority is broadening its focus to consider whether KiwiSaver investors are getting value for money but it still believes the cost of managing that money should be cheaper. In its annual KiwiSaver report, the market watchdog reiterated concerns that ma...
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Law & Regulation
OPINION: The elephant in RBNZ's bank capital room
The most surprising thing about the Reserve Bank's proposed new bank capital rules remains that nobody has attempted to explain why we shouldn't believe the results of the RBNZ's own stress-testing of the major banks. One would think that if RBNZ was planning to force the big...
Policy
UPDATE: Sage defeated in new Waihi mine decision
(Updates to add comment from OceanaGold, the Employers and Manufacturers Association and BusinessNZ, beginning in paragraph 12). In a surprise turnaround, the government has given OceanaGold a greenlight to buy land to expand its Waihi mine after the application was previousl...
ANZ ups Aussie bank inquiry cost to A$682m
ANZ Bank, the Australia-based parent of New Zealand's largest bank, says its annual results will be hit by an A$559 million after-tax charge to cover the costs of remediating over-charging and mis-selling products to its customers.The bank is also warning there may be ongoing cos...
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