Code of Responsible Borrowing and need of financial literacy

Press Release – NZ Federation of Family Budgeting Services

The Federation of Family Budgeting Services has today launched a Code of Responsible Borrowing, which encourages people to understand their financial situation before making a decision to borrow money. Read more »

UPDATE: Contact shares rocket up on capital return plans

Article – BusinessDesk

May 25 (BusinessDesk) – Contact Energy shares jumped more than 14 percent after the energy generator and retailer said it had ditched plans for now to invest in geothermal schemes offshore and will increase returns to shareholders, including a special dividend. Read more »

HiFX Morning Update, May 25

Press Release – HiFX

The USD closed out the week sharply higher against all its major competitors, after the U.S Core CPI m/m came in ahead of economists estimates 0.3% vs exp 0.2%, and comments from Fed Chair Yellen in a speech to the Chamber of Commerce. Read more »

KiwiSaver providing poor value for money, Treasury says

Article – BusinessDesk

May 25 (BusinessDesk) – The Treasury recommended a wider review of the KiwiSaver scheme than just axing the $1,000 kick-start payment, arguing it represents poor value for money for the government and has vague aims, according to its regulatory … Read more »

NZ dollar falls after US inflation repport, Yellen speech

Article – BusinessDesk

May 25 (BusinessDesk) – The New Zealand fell as the US dollar strengthened following signs of rising US inflation and after Federal Reserve chair Janet Yellen said interest rates were on track to increase this year. Read more »

Government kicks hardworking whanau

Press Release – New Zealand Labour Party

Government kicks hardworking whanau A major incentive to help young Kiwis and people on low incomes to start saving has been kicked out from under them with the National-led Government ramming through short-sighted legislation under Urgency today, Labours … Read more »

HIFX Morning Update, May 22

Press Release – HiFX

The NZD opens at similar levels to where we closed yesterday. The budget caused little movement reiterating more of the same to come. Net migration numbers were slightly more interesting showing just over 4,700 new Kiwis arrived at our shores during the … Read more »

NZ dollar drops to 4-year low vs. Sterling after upbeat data

Article – BusinessDesk

May 22 (BusinessDesk) – The New Zealand dollar fell to a four-year low against the British pound after UK retail sales rose more-than-expected in April, boosting optimism about the outlook for the economy. Read more »

Scutts found guilty of fraud after accepting kickbacks

Article – BusinessDesk

May 21 (BusinessDesk) – Peter Scutts, the former head of New Zealand Wine Co, was found guilty of 17 fraud charges laid by the Serious Fraud Office in the Auckland High Court today. Read more »

Axing Kiwisaver Kick Start Payment a Terrible Signal

Press Release – Financial Services Council

This is a terrible signal for younger New Zealanders starting out saving for the first home and a comfortable retirement using Kiwisaver against the background of an aging population. Read more »

NZ credit ratings unaffected by government’s 2015 budget

Article – BusinessDesk

May 21 (BusinessDesk) – New Zealand’s credit ratings were unaffected by the government’s 2015 budget, Standard & Poor’s and Moody’s Investors Service say. Read more »

Budget 2015 continues responsible economic direction

Press Release – New Zealand Bankers’ Association

Budget 2015 continues the governments responsible economic direction the New Zealand Bankers Association said today. Read more »

KiwiSaver $1,000 kick-start payment to cease

Press Release – New Zealand Government

People enrolling in KiwiSaver from 2pm today will no longer receive a $1,000 kick-start payment, Finance Minister Bill English says. The change does not affect existing KiwiSaver members. KiwiSaver has been successful in attracting members, with 2.5 … Read more »

NZDMO adds $1 bln to bond programme in 2015/16 year

Article – BusinessDesk

May 21 (BusinessDesk) – The New Zealand Debt Management Office will increase borrowing by an extra $1 billion in the 2016 financial year, a period where the Treasury anticipates a bigger cash deficit as capital spending is expected to exceed cash flows. Read more »

Low inflation, ACC changes slash $3.2B from Crown balance

Article – BusinessDesk

Low inflation, ACC changes slash $3.2B from Crown balance, as KiwiSaver perk axed to help kids Read more »

Heartland flags profit at top end of guidance

Article – BusinessDesk

May 21 (BusinessDesk) – Heartland New Zealand, the bank formed through the merger of Canterbury and Southern Cross building societies with Marac Finance, says it expects full year profit to be at the upper end of its guidance range. Read more »

HiFX Morning Update, May 21

Press Release – HiFX

The FOMC minutes released this morning have downplayed the possibility of a June rate hike. The Fed said that several members back in March believed that they were on track to raise rates in June, however following the recent run of disappointing … Read more »

Completion of institutional entitlement offer

Press Release – Kiwi Property

Kiwi Property advises that it has successfully completed the institutional entitlement offer component (Institutional Entitlement Offer) of its underwritten 1 for 9 entitlement offer (Offer). Read more »

LGFA extends bond terms as councils shift to 30-year plans

Article – BusinessDesk

May 20 (BusinessDesk) – The Local Government Funding Agency, New Zealand councils’ lender, now boasts the country’s second longest bond term, as the sector moves to a 30-year infrastructure planning regime. Read more »

Goodman Property lifts FY earnings 5.4% on revenue growth

Article – BusinessDesk

May 20 (BusinessDesk) – Goodman Property Trust, which has teamed up with Singapore government-owned GIC to develop the Auckland Viaduct Quarter, lifted annual earnings 5.4 percent as it reaped higher rental revenue while clamping down on costs. Read more »

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