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Our investments section covers wealth management, investing and KiwiSaver. Investments editor Frances Cook hosts New Zealand's number one business podcast, Cooking the Books, as well as writing news a
fma takes asb bank to court for overcharging customers
The Financial Markets Authority has filed civil proceedings against ASB Bank for alleged misrepresentation regarding insurance and banking services, which resulted in nearly $4 million in overcharging
stuff exits fibre electricity investments
Stuff has sold its fledgling broadband business, Stuff Fibre, to Australian-owned telco Vocus and confirmed the sale of its stake in power retailer Energyclubnz to management as it turns its atten
asb showgrounds owe about 48m
The ASB Showgrounds went into liquidation on June 22 owing more than $4.8 million, the first liquidator's report shows. Liquidator Paul Vlasic of Rodgers Reidy said the showground's custodians, the Au
asb sells aegis investment administrator to mmc
ASB Bank says it has sold its investment administration and custody business Aegis to MMC, a specialist outsourcing and investment administration business based in Auckland, for an undisclosed sum. Th
still waiting for business lending revival asb
Business sentiment is improving but it hasn't yet tipped over into appetite for borrowing, according to ASB Bank chief executive Vittoria Shortt. "I think the sentiment is changing but we haven't yet.
asb hikes fixed mortgage rates
ASB is hiking mortgage rates again, targeting terms proving popular among borrowers. The bank is lifting its one-year and 18-month rates by 20 basis points to 7.45% and 7.15% respectively. Meanwhile,.
asb grows lending and fattens margins
ASB Bank grew both its business and mortgage lending faster than total bank lending in the year ended June and its net interest margin (NIM) fattened by 18 basis points in the second half of the year.
asb is keeping some covid caution
Most of ASB Bank's 39% jump in annual net profit reflected writebacks of covid-related provisioning but the bank is keeping provisioning at elevated levels in case there's further disruption ahead. "W
asb launches 500m accelerated housing fund
ASB has created a $500 million housing fund to support lending to affordable, social and Māori housing developments. In a statement released on Friday, the bank said the Accelerated Housing Fund woul
asb fans housing market flames
ASB Bank's chief executive is walking a fine line between crowing about how many first-home buyers it helped in the second half of 2020 while stressing her bank had tried to "moderate" the raging hous
transport investments ltd to list via bethunes backdoor
By Paul McBeth Oct. 27 (BusinessDesk) - New Plymouth-based freight and logistics group Transport Investments Ltd plans to join the NZX through a backdoor listing via Bethunes Investment in a deal valu
alliance group pauses farmer shareholder capital raise
Alliance Group has hit the pause button on its farmer-shareholder capital raise. “The board's preference is for Alliance to remain a 100% farmer-owned co-operative. However, raising the desired ca
cdl investments
CDL Investments New Zealand Limited is an Auckland-headquartered land development company which undertakes development of land into residential subdivisions.The company has its origins in the former c
lakefront investments liquidated by ird over 13m tax bill
The Inland Revenue Department has succeeded in liquidating the owner of a multimillion-dollar Takapuna property over a $1.3m tax bill. Lakefront Investments is a Haven-related company and part of a wi
asb to integrate cmc markets trading tech into platforms
ASB Bank has entered into “a long-term strategic partnership” with UK-based CMC Markets to give its customers more tools. The “white label” partnership, announced on Monday, will give the bank
asb director robert jesudason resigns
By Suze Metherell Nov. 3 (BusinessDesk) - Robert Jesudason, an executive at Commonwealth Bank Australia, has resigned from the board of the Australian bank's New Zealand arm, ASB Bank. Jesudason resig
oregon group turns a profit on higher revenue and favourable carbon credit and forest asset valuations
Forestry and construction conglomerate Oregon Group turned the company’s $107.3 million loss last year into a $921,804 profit in the year to June 30 2024, buoyed by 14.5 % higher revenue of $605.
impact hit and miss for asb
When it launched the so-called Positive Impact Fund in 2019, ASB took a bit of stick. At the time, several KiwiSaver competitors and others in the then-nascent environmental, social, and governance (E
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 a
agrizeronz fights for nz access for its investments
AgriZeroNZ has committed $191 million to reduce agricultural emissions but is pushing hard to allow those solutions to be used in New Zealand. AgriZeroNZ was established in February 2023. Its newly re
nz auto investments
NZ Automotive Investments Limited Ordinary Shares Company Details Registered Office: 102 Mays Road, Onehunga, Auckland 1061 Postal Address: 102 Mays Road, Onehunga, Auckland 1061 Telephone: 09-869-333
ngapuhi settlement fund to accelerate investments
The investment fund set up to help prepay the eventual Treaty of Waitangi settlement with Ngāpuhi, Tupu Tonu, has committed almost a third of its $150 million as it approaches its second anniversary.
new zealanders are feeling more confident about housing asb
New Zealanders are feeling more positive about the housing market but aren't expecting a swift recovery, ASB's latest Housing Confidence Survey shows. It indicated 24% of respondents expect gains co
asb ups dairy price forecast despite weak chinese demand
Surprisingly strong global prices for dairy products have prompted ASB economists to push their forecast milk price to $7.85 per kilogram of milk solids, compared to Fonterra’s current forecast of a
Finance News
Finance
$400m Christmas bonus for Cryptopia victims
This is the first big payout since a hack and theft in 2019.
Finance
Auditing the Auditors
Audit fee rise is NZ playing ‘catch up’
Auditors have relied on importing talent, says NZSA's Oliver Mander.
Finance
HYEFU: Big bump to bond programme
Looser than expected fiscal policy drives a much bigger bond programme.
*All returns are per annum, after fees and before taxes. Data updated at 1:07am 22 December 2024 (NZT)
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