Finance
Explore the latest finance news by BusinessDesk's team of reporters around New Zealand.
Property
Owner-occupier debt-to-income ratios trending down
By Jenny Ruth Aug. 12 (BusinessDesk) - The number of mortgage borrowers with debt-to-income ratios greater than five has fallen to 31 percent in June from 37 percent two years earlier, according to new data the Reserve Bank is collecting. A slightly higher percentage, 33 pe...
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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.
Law & Regulation
Liquidators file bankruptcy application against Mainzeal’s Yan
By Victoria Young Aug. 12 (BusinessDesk) - The liquidators for Mainzeal say they have been forced to use bankruptcy proceedings to get $18 million out of former director Richard Yan. While both sides are appealing the $36 million in damages awarded against several former d...
Retail
Cautious consumers go easy on the plastic as card spending dips in July
By Victoria Young Aug. 12 (BusinessDesk) - Seasonally-adjusted electronic card spending dipped in July by 0.1 percent after being flat in June, according to Stats NZ. Economists had expected a 0.5 percent lift, according to the median in a Bloomberg poll. In the same month...
Policy
RBNZ isn’t here to surprise, deputy governor says.
By Victoria Young Aug. 9 (BusinessDesk) - Reserve Bank deputy governor Geoff Bascand has told an audience of businesspeople the central bank won’t keep surprising as it did when it slashed the official cash rate on Wednesday. RBNZ's monetary policy committee shocked financ...
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