BusinessDesk - Latest News [Page 2]

Memo to Oz-owned banks: resistance on IRB models is futile

Thursday, 10 October 2019, 2:54 pm | BusinessDesk

The big four Australian-owned banks ought to have realised in February that it was futile to resist the Reserve Bank's intention to severely restrict the competitive advantage they gain from using their own internal models to calculate capital. More >>

Sky shares plunge as Spark steals cricket rights

Thursday, 10 October 2019, 2:01 pm | BusinessDesk

Sky Network Television shares plunged below $1 for the first time in its 21 years as a listed company after Spark New Zealand pulled the rug out from under the pay-TV operator in securing cricket broadcasting rights. More >>

Risk frameworks need 'fundamental rethink' on climate

Thursday, 10 October 2019, 1:49 pm | BusinessDesk

New Zealand’s risk and resilience frameworks need a “fundamental rethink” if communities are going to adapt to the greater potential risks arising from climate change, Local Government New Zealand says. More >>

NZ dollar dips on easing US-China tensions

Thursday, 10 October 2019, 11:10 am | BusinessDesk

The New Zealand dollar was slightly weaker as the greenback benefited from reduced tensions between the US and China ahead of tomorrow’s trade talks. More >>

FMA cage-rattling sees Westpac pledge to cut KiwiSaver fees

Thursday, 10 October 2019, 10:27 am | BusinessDesk

The Financial Markets Authority is broadening its focus to consider whether KiwiSaver investors are getting value for money but it still believes the cost of managing that money should be cheaper. More >>

MARKET CLOSE: NZ shares fall as trade concerns resurface

Wednesday, 9 October 2019, 8:47 pm | BusinessDesk

New Zealand shares fell as fears over the US-China trade war re-emerged and weighed on investor confidence across the region. The Fonterra Shareholders' Fund's recent rally also took a breather. More >>

NZ dollar firms as hopes for US-China trade talks sour

Wednesday, 9 October 2019, 8:45 pm | BusinessDesk

The New Zealand dollar was slightly stronger as hopes sour for a positive outcome from this week's trade negotiations between China and the United States. More >>

Chorus appoints former NBN exec JB Rousselot as new CEO

Wednesday, 9 October 2019, 12:24 pm | BusinessDesk

Chorus has looked across the Tasman for someone to take over the reins, hiring former NBN executive JB Rousselot as chief executive effective from Nov. 20. More >>

OPINION: The elephant in RBNZ's bank capital room

Wednesday, 9 October 2019, 11:55 am | BusinessDesk

The most surprising thing about the Reserve Bank's proposed new bank capital rules remains that nobody has attempted to explain why we shouldn't believe the results of the RBNZ's own stress-testing of the major banks. More >>

National Party open to higher methane targets

Wednesday, 9 October 2019, 11:54 am | BusinessDesk

Methane reduction targets proposed as part of the country’s climate change response should be determined by the Climate Commission, even if that results in higher thresholds than those proposed now, National Party climate change spokesman Scott Simpson says. More >>

Stanley-Tallwood liquidator plans director deal

Wednesday, 9 October 2019, 11:29 am | BusinessDesk

The liquidator for Stanley Group, Tallwood Holdings and associated companies wants to cut a deal with its directors and get them to pay subbies to make up for the lack of retentions held. More >>

NZ dollar lifts against British pound on Brexit jitters

Wednesday, 9 October 2019, 11:06 am | BusinessDesk

The New Zealand dollar gained against the British pound on growing concerns about the likelihood of a no-deal Brexit. More >>

MARKET CLOSE: NZ shares join Asian rally

Tuesday, 8 October 2019, 9:29 pm | BusinessDesk

New Zealand shares joined a rally across Asia as investors were more optimistic about the upcoming trade negotiations between the US and China. More >>

NZ dollar rises on better-than-expected govt surplus

Tuesday, 8 October 2019, 8:23 pm | BusinessDesk

The New Zealand dollar clawed its way back over the 63 US cent mark after the government's larger-than-expected budget surplus cheered investors. More >>

Transmission Gully contractor suing NZTA for $352m

Tuesday, 8 October 2019, 7:43 pm | BusinessDesk

Transmission Gully contractor Wellington Gateway Partnership is seeking $352 million from the New Zealand Transport Agency over delays in starting the work. More >>

NZ to go Dutch to battle climate change

Tuesday, 8 October 2019, 7:42 pm | BusinessDesk

Dutch and Kiwi farmers must innovate together, the Prime Minister of the Netherlands Mark Rutte said, announcing a joint cooperation statement on climate change with New Zealand today. More >>

UPDATE: Sage defeated in new Waihi mine decision

Tuesday, 8 October 2019, 7:41 pm | BusinessDesk

(Updates to add comment from OceanaGold, the Employers and Manufacturers Association and BusinessNZ, beginning in paragraph 12). More >>

Small end of town needs to chip in on climate change - Carr

Tuesday, 8 October 2019, 4:44 pm | BusinessDesk

Corporate New Zealand is increasingly engaged on the real challenges of climate change but the nation’s efforts will need to be much broader based to be effective, the new head of the Climate Change Commission says. More >>

Rail revaluation bolsters Crown 2019 accounts

Tuesday, 8 October 2019, 4:16 pm | BusinessDesk

The government's annual accounts were healthier than predicted, due in large part to a $2.6 billion reversal in earlier writedowns to the value of the rail network, and a bigger tax take. More >>

ANZ Bank raises Australian remediation costs for 2019

Tuesday, 8 October 2019, 3:19 pm | BusinessDesk

ANZ Bank, the Australia-based parent of New Zealand's largest bank, says its annual results will be hit by an A$559 million after-tax charge to cover the costs of remediating over-charging and mis-selling products to its customers. More >>