Finance
Explore the latest finance news by BusinessDesk's team of reporters around New Zealand.
ASB reviews ownership of Aegis
By Gavin Evans May 21 (BusinessDesk) - Commonwealth Bank of Australia-owned ASB is considering selling its Aegis investment administration business. The firm, started by Sovereign Insurance and 1996 and part of ASB since 1998, administers about $15.2 billion local and offsh...
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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.
Law & Regulation
IRD should have doubled claim against Watson's Cullen Group - Professor
By Jenny Ruth May 21 (BusinessDesk) - Inland Revenue Commissioner Naomi Ferguson should have asked the courts for twice as much as it was awarded earlier this month against Eric Watson’s Cullen Group, according to a University of Auckland law professor. The High Court order...
Tower turns to 1H profit, lifts FY guidance
By Rebecca Howard May 21 (BusinessDesk) - Tower turned to a profit in the first half of the year and lifted its full-year guidance as gross written premiums rose and claims costs fell. The insurer reported a net profit of $11.9 million in the six months to March 31, up fr...
Investore FY profit falls 16% on smaller valuation gain, signals flat dividend for 2020
By Paul McBeth May 21 (BusinessDesk) - Investore Property posted a 16 percent decline in annual profit as it reaped a smaller valuation gain on its large-format retail property portfolio than a year earlier. Net profit fell to $38.6 million in the 12 months ended March 31...
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