Bank improves household wealth statistics

Press Release – Reserve Bank

The Reserve Bank is publishing a new set of household balance sheet statistics compiled using international standards. The new statistics cover a wider range of household assets including households currency holdings, the equity owned in unlisted businesses … Read more »

NZX launches three new ETFs

Article – BusinessDesk

March 27 (BusinessDesk) – NZX’s Smartshares unit, which is being combined with new acquisition Superlife next year, is launching three more exchange traded funds, giving investors exposure to Australia’s resource and financial sector and dividend-paying … Read more »

ComCom likely to allow Cavalier, NZ Wool Services merger

Article – BusinessDesk

March 26 (BusinessDesk) – The Commerce Commission is likely to allow Cavalier Wool Holdings and New Zealand Wool Services International to merge their two wool scouring operations, which would ultimately make a monopoly of wool scouring services in New … Read more »

KiwiSaver HomeStart Bill passes

Press Release – New Zealand Government

Hon Todd McClay Minister of Revenue 26 March 2015 Media Statement KiwiSaver HomeStart Bill passes Read more »

Update: Hotchin settles with Perpetual before appeal

Article – BusinessDesk

March 26 (BusinessDesk) – Mark Hotchin, principal of failed finance company Hanover, has reached a confidential settlement with one of Hanover’s trustees, Perpetual Trust, leaving only Guardian Trust as a party to his Supreme Court bid to have the trustees … Read more »

NZ commercial property lending less risky now: RBNZ

Article – BusinessDesk

March 26 (BusinessDesk) – The Reserve Bank said New Zealands $180 billion commercial property sector has become less risky since the global financial crisis because a reduced amount of debt is being used to fund new developments and purchases. Read more »

Hotchin settles with Perpetual before Supreme Court hearing

Article – BusinessDesk

March 26 (BusinessDesk) – Mark Hotchin, principal of failed finance company Hanover, has reached a confidential settlement with one of Hanover’s trustees, Perpetual Trust, leaving only Guardian Trust Co as a party to his Supreme Court bid to have the trustees … Read more »

Reserve Bank Bulletin articles published

Press Release – Reserve Bank

The Reserve Bank today published two articles in the Reserve Bank Bulletin . The Bulletins first article discusses the risks created by high and rapidly rising levels of household debt. It notes that high debt levels increase the sensitivity … Read more »

Hotchin drops Perpetual in appeal case

Article – BusinessDesk

March 26 (BusinessDesk) – Mark Hotchin, principal of failed finance company Hanover, has abandoned his appeal against Perpetual Trust to include them in the Financial Markets Authoritys civil case against the former lenders directors and promoters. Read more »

FastPay update strengthens ANZ’s role

Press Release – ANZ Bank

ANZ is to become the first New Zealand bank to enable merchants to process EFTPOS payments using both iPhone and Android smartphones. Read more »

Better credit information for borrowers

Press Release – New Zealand Government

Commerce and Consumer Affairs Minister Paul Goldsmith today announced new consumer credit regulations aimed at giving consumers information they need to make informed credit decisions. The regulations will mean New Zealand borrowers can access information … Read more »

ANZ to launch mobile wallet in NZ’s top banking app

Press Release – ANZ Bank

ANZ will release a mobile wallet later this year within ANZ goMoney, New Zealands most popular mobile banking app. Read more »

Vawtrak Banking Tojan Harvesting Passwords Worldwide

Press Release – AVG

A new wave of the Vawtrak banking Trojan is spreading worldwide. AVG Technologies researcher Jakub Kroustek provides detailed analysis and advice below. Read more »

Optimistic start to year for New Zealand farmers

Press Release – Rabobank

New Zealand farmer confidence registered a significant increase in the first quarter, buoyed by a revival of sentiment among the dairy sector Sheep and beef farmer confidence remains stable, but expectations for their business performance are down … Read more »

Proximity Payments Inching Closer to Mass Market

Opinion – Ovum

Wait and see approach to technology will leave some telecoms, merchants and payment providers behind in 2015 Read more »

Deputy Governor appointed chair of OECD Committee

Press Release – Reserve Bank

Reserve Bank Deputy Governor Grant Spencer has been appointed chair of the Organisation for Economic Co-operation and Development (OECD)s Committee on Financial Markets (CMF). The membership of the CMF includes representatives of the OECDs 34 member … Read more »

ASB Farmshed Economics Report

Press Release – ASB

The NZ dairy production outlook is not as bad as first feared according to the latest ASB Farmshed Economics Report. Prices have moved to reflect this changing view up sharply in February on the plunging production fears, and then down by a lesser … Read more »

Nikko largest fund manager to receive MIS licence

Press Release – Nikko Asset Management

The Financial Markets Authority (FMA) has awarded Nikko Asset Management a Managed Investment Scheme (MIS) Manager Licence, which is granted to asset managers who are able to demonstrate adherence to industry standards and best practices, the asset … Read more »

Rabobank NZ profit rises 31% to record

Article – BusinessDesk

March 23 (BusinessDesk) – Rabobank New Zealand said profit rose 31 percent to a record in 2014 as the local unit of Netherlands-based Rabobank Group increased rural sector lending and kept costs under control. Read more »

Ross Asset liquidators in first test case to claw back funds

Article – BusinessDesk

March 23 (BusinessDesk) – Liquidators of the Ross Asset Management group of companies, found to be a ponzi scheme, are looking to claw back $954,000 one investor withdrew before the scheme collapsed, in the first of three test cases. Read more »

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