Articles tagged ANZ

Newsroom Business Editor Nikki Mandow has taken a detailed look at the Overseas Investment Office's decision to block the takeover of ANZ's UDC by China's HNA. She found ANZ and UDC customers and funders dodged a huge bullet, thanks to the OIO's due diligence. One question stands out: why went wrong with ANZ's own due diligence?

Kerry McDonald, a former chair of the BNZ and former National Australia Bank director, argues the current system designed to protect depositors in New Zealand’s big four banks is fundamentally flawed. He cites weak local governance by both the banks' boards and the Reserve Bank, and an unfair system that penalises local savers in any crisis. Like the IMF, McDonald is calling for tougher Reserve Bank regulation and reform of protections for savers.

Bill English's downplaying of the scale of the national housing shortage was challenged yesterday in another sign that housing will be the major topic of debate in the election, alongside migration. He also opened himself up to accusations of going soft on the drive for extra housing supply when he pointed to prices having stopped rising in Auckland -- a tactic John Key used to take the focus off housing supply from 2009 to 2012.