Regulators launch urgent inquisition into big four Australian-owned banks, demanding results of internal inquiries into problems seen in Australia. Bernard Hickey introduces the full letter demanding results within 2 weeks.
Rod Oram looks at a new report on the economic benefits of taking climate change action and finds plenty of reasons for taking action earlier rather than later.
Two of the country’s big four banks say proposed legislation to prevent foreign companies from gaming our tax system could inadvertently criminalise bank directors, Thomas Coughlan reports
Former Finance Minister Bill English has described the influence of Australia's big four banks as more pervasive in New Zealand than that of China.
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.
Borrowers hoping (and savers fearing) that this Thursday's OCR cut might push retail interest rates lower may be left hanging by banks who have taken their foot off the mortgage lending accelerator and are instead keener on term deposits.
Hello all after the release of the March quarter labour force figures on jobs and wages, which everyone is scrutinising for signs on how the economy is travelling and what the Reserve Bank might do next.
Good morning all
Good morning all.
For the convenience of email-avoiding subscribers and samplers, here's the email sent earlier on Friday morning, including news of David Cunliffe's circling of the wagons around his leadership and the Government's attempts to turn the screws on Cunliffe's letter to Donghua Liu.