ANZ New Zealand boosts FY profit 17% on home loan growth

Article – BusinessDesk

Oct. 31 (BusinessDesk) – ANZ New Zealand boosted annual earnings 17 percent as the local unit of Australia & New Zealand Banking Group benefited from home loan lending growth and bedded down savings from the integration of the National Bank … Read more »

Credit Union Association’s High Court victory

Press Release – NZ Association of Credit Unions

New Zealand Association of Credit Unions (NZACU) High Court victory to change its name to ‘Co-op Money NZ’ is a win for all co-operatives. The Co-operative Bank filed for a temporary injunction against the NZACU in June after NZACU announced it intended … Read more »

Focused ANZ New Zealand lifts performance

Press Release – ANZ Bank

Continued benefits from its brand and systems merger and improvements in the economy have underpinned a strong financial performance for ANZ New Zealand, the bank said in announcing its 2014 full year results today. Read more »

NZ dollar gains as investors pare back bets on greenback

Article – BusinessDesk

NZ dollar gains as investors shy away placing more bets for the US dollar to gain Read more »

TOWER: full replacement cover for homes lost to fire

Press Release – Tower Insurance

TOWER is today (October 30) bringing back full replacement cover for New Zealand houses destroyed by fire, one of the main reasons for the total loss of a home. TOWER is the only major insurer focusing on all New Zealanders to offer any form of full … Read more »

NZ, Aust working on differences in depositor protection

Article – BusinessDesk

Oct. 30 (BusinessDesk) – New Zealand and Australia are continuing work to iron out differences between their respective depositor protections, which operate under difference regulatory regimes, Finance Minister Bill English says. Read more »

Mayor proposes to penalise business with quick rates fix

Press Release – Employers And Manufacturers Association

Business is disappointed the Auckland Mayor proposes that the Council should keep an unfair rates burden on business, says Kim Campbell, Chief Executive of the Employers and Manufacturers Association. Read more »

Insurance rates in Wellington more than double 2010 rates

Press Release – Property Council Of New Zealand

Property Councils annual Operating Expenses Benchmarks (Opex) shows insurance premiums for commercial property in Wellington CBD have more than doubled since 2010. Read more »

Interactive storyteller app wins business kick-start

Press Release – ANZ Bank

A Wellington firm that has developed a mobile storyteller guide to visitor attractions has taken out one of New Zealands top business awards after pitching its business plan to a panel of expert judges in the capital today. Read more »

High Court bars Buddle Findlay from acting against Kerr

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Buddle Findlay, one of New Zealand’s leading commercial and public law firms, has been barred from acting against interest associated with George Kerr, a high profile client of 14 years who generated some $10 million in … Read more »

RBNZ refrains from FX intervention in September

Article – BusinessDesk

RBNZ keeps out of FX markets in September, may have another go pushing kiwi lower Read more »

Chatham Rock to delay exercise of options

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Chatham Rock Phosphate, which is seeking to mine phosphate nodules from the seabed on the Chatham Rise, will push out the date to exercise its listed options until 12 months after it receives marine consent to allow it share … Read more »

CORRECT: NZ dollar drops 2% in 2 hours on Fed, RBNZ

Article – BusinessDesk

Oct. 30 (BusinessDesk) – The New Zealand dollar dropped about 2 percent in just two hours this morning after the Federal Reserve gave a more upbeat than expected assessment of the US economy and New Zealand’s Reserve Bank gave no signal it would need to … Read more »

BNZ chief Healy sees growth in rural, business lending

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Bank of New Zealand chief executive Anthony Healy expects the broader rural sector to continue to grow with greater investment along the value-chain, and anticipates increased business lending after a period of low credit expansion. Read more »

Fletcher Building Announces New Organisation Structure

Press Release – Fletcher Building

Fletcher Building Limited announced today a new organisation structure and changes in several executive leadership roles. The changes follow an ongoing review of the business portfolio and business performance management. Read more »

HB meth operation nets cash and firearms

Press Release – New Zealand Police

Hawkes Bay Police have seized $175,000 worth of methamphetamine and $310,000 in cash after the termination of a major drug operation this week. The two and half month operation focussed on the supply of methamphetamine in the Eastern District. Read more »

Reserve Bank should reduce interest rate

Press Release – Council of Trade Unions

The Reserve Bank should be reducing its policy interest rate, the OCR, says CTU Economist Bill Rosenberg in response to the Banks announcement today that it is not increasing it. Read more »

New research on innovation in residential construction

Press Release – Joint Press Release

A report by the New Zealand Institute of Economic Research (NZIER) on the impact of the demand for individually tailored (bespoke) houses on innovation in the residential construction sector was released today. Read more »

BNZ annual earnings rise 2.4% on lending growth

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Bank of New Zealand, the local unit of National Australia Bank, lifted annual earnings 2.4 percent as the lender lifted lending to businesses and households and reported smaller charges on bad debts. Read more »

RBNZ drops bias on higher rates; kiwi falls

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent, and toned down the prospect of higher interest rates as inflation remains unexpectedly low. The New Zealand dollar fell. Read more »

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