News

Commerce Commission investigates Tower as the insurer refunds 23,000 customers after incorrectly calculating their multi-policy discounts

30 September 2016

Tower Insurance is refunding 23,000 of its customers, further to it mistakenly overcharging them over a 22-month period. It admits it has calculated some of its customers’ multi-policy discounts incorrectly due to a technical issue. Interest.co.nz. More> 

Nigel Latta Only Tells Half the Story on the Economy: Morgan Foundation

30 September 2016

"We’ve been a big fan of Latta in the past, particularly his documentaries on sugar and inequality. Last night’s documentary on the economy got a lot right, but when it came to the issue of poor investment he overlooked the elephant in the room; our obsession with housing. We need to invest in productive businesses, we simply can’t get rich by buying and selling houses off each other." Morgan Foundation. More> 

Kiws feel wealthier and spending more as property values increase

29 September 2016

A buoyant property market is making Kiwis feel wealthier, and giving consumers confidence to splurge on big-ticket items such as cars and holidays. Retail spending in New Zealand has increased by 4.5 per cent on last year and by 18 per cent since 2012, which retail analysts suggest is directly related to higher house valuations. Stuff.co.nz. More> 

Test your KiwiSaver knowledge

27 September 2016

As part of Stuff.co.nz's coverage leading up to this year's Workplace Savings New Zealand conference, we're testing New Zealanders' knowledge of KiwiSaver. A lot is riding on how you decide to invest, and how much attention you pay to your savings - a mistake can be very expensive. More> 

Emerging Markets a Bright Spot in the Third Quarter

27 September 2016

In the global financial markets, most of the developments that were in place halfway through this year remain intact as we head into the final quarter of 2016. As a result, the performance results in the Morningstar Categories for funds look much like they did at the end of the second quarter. Morningstar. More> 

Steep decline in investor lending

27 September 2016

New Reserve Bank mortgage lending data leaves little doubt that the new investor-targeted LVRs have had a significant impact on bank lending to investors - lending to Auckland landlords dropped by almost 20%. Goodreturns.co.nz. More> 

Milford fund manager faces 10 causes of action

27 September 2016

"Market manipulation strikes at the heart of the pricing system on which all investors rely," Justin Smith QC, counsel for the Financial Markets Authority, told the High Court at Auckland today at the start of the country's first such case to go to trial. NBR. More> 

Neil Quigley to chair RBNZ’s board of directors

27 September 2016

Neil Quigley has been elected chair of the Reserve Bank of New Zealand’s board of directors, replacing Rod Carr who is leaving early. Carr’s term was set to end next July, but he advised the board he would not seek re-election, so stood down, with Quigley’s term as chair officially beginning last Friday. BusinessDesk. More> 

Innovation key to shaping Bank’s past and future

27 September 2016

The Reserve Bank’s Annual Report 2015-16 demonstrates the Bank’s commitment to innovation as it continues to promote a sound and dynamic monetary and financial system, Governor Graeme Wheeler said today. RBNZ Press Release. More> 

The Government needs to get involved in helping to provide a level playing field for entrants into the housing market

26 September 2016

The latest calls by the Property Institute for first home buyers to be exempt from LVR restrictions fall into the usual category of such comments; well intended but naive and simplistic. Interest.co.nz. More>