Supplied Content The Financial Markets Authority (FMA) and Reserve Bank of New Zealand (RBNZ) have completed their joint review into the conduct and culture of 11 New Zealand banks. The review is the first of its kind in New Zealand. Significant weakness The regulators identified significant weaknesses in the governance and management of conduct risks. These weaknesses have resulted in…
Read More
Thomas Coughlan Crown accounts for the Government show a $343 million deficit in the first three months of the 2019 Financial Year, which was broadly in line with the May Budget forecasts and on track to end with a surplus of $3.7 billion for the full year. They also show the Government’s debt rose to 20.9% of GDP from 19.9%…
Read More
Supplied Content Recognition that New Zealand continues to have the most business-friendly environment in the world is another real example of the strength of our underlying economic and business fundamentals, Finance Minister Grant Robertson said. New Zealand maintained top spot in the Doing Business 2019 Report released by the World Bank on November 1, 2018. Mr Roberson issued the following…
Read More
Phil Smith (RNZ) The Criminal Cases Review Commission Bill has been sent to the Justice Committee for consideration. This is when Parliament asks the public for feedback and suggestions on a law which would create a new Permanent Independent Commission to investigate potential miscarriages of justices. With the Committee due to ask for ideas, it is worth getting a look-see at what is up for comment. We sat down with Minister of Justice Andrew Little and the…
Read MoreSupplied Content Cigna New Zealand has announced that final regulatory approval has been granted from the Reserve Bank of New Zealand and the Overseas Investment Office for the acquisition of ANZ’s OnePath Insurance business. Earlier this year, Cigna entered into negotiations with ANZ to purchase OnePath. Once completed, this acquisition will make Cigna New Zealand’s third largest life insurance provider.…
Read More
Teuila Fuatai Identification of widespread employment breaches among some Chorus subcontractors has prompted the telecommunications infrastructure company to investigate its own systems. Complicated exercise Rolling out ultra-fast broadband in New Zealand has been complicated. The government enlisted Chorus, which was spun out of the old Telecom, to carry out the bulk of the work. Chorus subcontracted the job to four…
Read More
Kieran Madden Famously elusive about her political leanings, pop sensation Taylor Swift recently went beyond her usual neutral get-out-and-vote message to endorse a Democrat candidate in her home state of Tennessee. This is a big deal, because Swift’s post made a splash with her 112 million Instagram followers, contributing to a huge spike in electoral registrations—over 100,000 new sign-ups by…
Read More
Alex Penk I was born at the tail-end of Gen X, so I grew up with a pop culture saturated by “Fear of Commitment,” perhaps best characterised by Joey and Chandler on Friends. So, when I heard the Child Poverty Reduction Bill described by one expert as a “Commitment Device” intended to cement an unrelenting focus on child poverty into…
Read More
Lucy Wyndham Big businesses across New Zealand have taken to smart environments with aplomb. According to an influential study by consultants IDC, business smart device usage doubled throughout 2017. For digitally-native professionals in the country, this is great news, as work environments will become suitable for a high level of smart integration. However, given the disruptive nature of smart tech and…
Read More
Supplied Content The Employment Court has ruled that three migrant employees working in remote New Zealand will receive $10,000 from an employer-couple who persistently breached their employment rights. Labour Inspectorate Retail Sector Lead Loua Ward said that the workers came to New Zealand on student visas and upon completion of their studies, secured work visas to allow them to work…
Read More