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Banking and Finance

U.S. military expert de-banked

Daily Telegraph NZ -

Scott Ritter, a former US Marine Corps intelligence officer and UN weapons inspector, says his bank abruptly terminated its relationship with him and emptied...

Manage My Health data breach raises risk of bank fraud

Daily Telegraph NZ -

A cybersecurity expert has warned that the Manage My Health data breach, which has affected about 125,000 users and exposed hundreds of thousands of...

Inside the mind of a market killer

Promoted Content -

The Trading Game: A Confession by Gary Stevenson is not your typical finance book. It’s raw, unsettling, and deeply personal—part memoir, part warning, and part...

German Communist Party de-banked

Daily Telegraph NZ -

Germany’s Communist Party has accused financial institutions of politically motivated repression after being informed that its bank accounts will be closed at the end...

FMA warns investors in Rangiora firm as interim liquidators appointed and assets restricted

Daily Telegraph NZ -

The Financial Markets Authority (FMA) has issued a warning to investors in Rangiora-based investment firm Chance Voight, urging them to carefully consider their position...

Banking Ombudsman rejects complaint over five-year fixed mortgage regret

Daily Telegraph NZ -

A couple who locked in a five-year fixed home loan in 2023 and later regretted the decision have failed in a complaint to the...

Major bank claims business confidence is at a ’30 year high’

Daily Telegraph NZ -

Business confidence has surged to its 'strongest level in three decades', pointing to a broad-based economic recovery driven by improving activity, employment and expectations. ANZ’s...

ANZ lifts fixed mortgage rates

Daily Telegraph NZ -

ANZ has raised several of its fixed home loan rates, becoming the latest bank to respond to rising wholesale funding costs even as the...

HSBC warns OpenAI may need over $200 billion just to stay afloat

Daily Telegraph NZ -

OpenAI could face a massive funding shortfall of more than USD $200 billion by 2030 as soaring computing costs threaten to eclipse its revenue...

Major NZ banks accused of enforcing “mandatory spyware” for online banking access

Daily Telegraph NZ -

Three of New Zealand’s largest banks are facing mounting scrutiny after claims they have introduced "mandatory behavioural and device-level tracking" as a condition of...

Reserve Bank cuts OCR to 2.25%

Daily Telegraph NZ -

The Reserve Bank has lowered the Official Cash Rate (OCR) to 2.25 percent, citing easing inflation pressures and spare capacity in the economy, while...

ANZ NZ profit rises 4% to $2.37 billion

Daily Telegraph NZ -

ANZ New Zealand has reported a cash net profit after tax of $2.37 billion for the year to 30 September 2025, up 4 percent...

Government advances credit law reforms to ease access to finance

Daily Telegraph NZ -

The Government is pressing ahead with reforms to "improve New Zealanders’ access to credit", following the Select Committee’s report on the Credit Contracts and...

Reserve Bank cuts OCR to 2.5%

Daily Telegraph NZ -

The Reserve Bank of New Zealand’s Monetary Policy Committee (MPC) has cut the Official Cash Rate (OCR) by 50 basis points to 2.5 percent,...

US dollar hits 30-year low in global foreign reserves – IMF

Daily Telegraph NZ -

The greenback’s share in central bank reserves has fallen to 56.3%, a report has said. The US dollar’s share of global foreign exchange reserves fell...

Fired ANZ trader confronted over ‘offensive’ messages as court battle resumes

Daily Telegraph NZ -

A long-running unfair dismissal case against ANZ in Australia has reignited in the Federal Court, with former senior trader Etienne Alexiou grilled over a...

New Reserve Bank Governor appointed

Daily Telegraph NZ -

Dr. Anna Breman, the First Deputy Governor of Sweden’s central bank, has been appointed as the new Governor of the Reserve Bank of New...

ATMs predicted to vanish by 2026 leaving Kiwis locked out of cash

Daily Telegraph NZ -

The familiar site of the automatic teller machine (ATM) could soon fade from New Zealand streets, with reports warning that ATMs may be virtually...

Banking Competition Inquiry response due in November

Daily Telegraph NZ -

The Finance and Expenditure Committee has released its inquiry into banking competition, examining business, rural, and Māori lending as part of efforts to strengthen...

Mortgage refinancing hits record high

Daily Telegraph NZ -

A record $2.5 billion in mortgage debt was refinanced in June as over 3,500 borrowers switched banks, the highest monthly amount since the Reserve...

Top lawyer calls for investigation into flawed data behind retrospective Banking Bill

Daily Telegraph NZ -

Rachael Reed KC has called for a formal investigation into serious process failures by the Ministry of Business, Innovation and Employment (MBIE) regarding retrospective...

In-store payment surcharges to be banned by 2026

Daily Telegraph NZ -

Commerce and Consumer Affairs Minister Scott Simpson has announced that in-store payment surcharges will be banned in New Zealand by May 2026 to eliminate...

Auckland man’s five-year legal ordeal over mistaken $11.5k transfer exposes gaps in NZ banking protections

Daily Telegraph NZ -

Auckland businessman Mark Graham has spent five years battling to recover $11,500 mistakenly transferred to the wrong bank account due to a post-concussion error. After...

Reserve Bank Board appointments announced

Daily Telegraph NZ -

Former Acting Governor Grant Spencer has been appointed to the Reserve Bank of New Zealand Board, Finance Minister Nicola Willis has announced. Board member Byron...

Hardship and business failures on the rise

Daily Telegraph NZ -

New data from Centrix shows a 14% year-on-year increase in financial hardship, with nearly 50,000 individuals struggling to pay bills—24,000 of whom are facing...

UK tribunal upholds ban for former Barclays Bank CEO over Epstein ties

Daily Telegraph NZ -

Former Barclays CEO Jes Staley lost his appeal against a lifetime ban from working in London’s financial sector due to his close relationship with...

Funding dispute with Willis prompted Orr’s resignation

Daily Telegraph NZ -

Reserve Bank documents released under the Official Information Act reveal that Governor Adrian Orr resigned due to a major funding dispute with Finance Minister...

Kiwibank cuts home loan and deposit rates following OCR drop

Daily Telegraph NZ -

Kiwibank has lowered several home loan and term deposit rates following last month’s 25bps cut to the Official Cash Rate. The bank’s six-month and one-year...

Kiwis losing out on $1.2b in interest by leaving ‘lazy money’ in zero-interest accounts

Daily Telegraph NZ -

Many New Zealanders are missing out on significant returns by keeping billions in transaction accounts that pay no interest, according to Squirrel CEO David...

RBNZ cuts OCR to 3.25% amid split vote

Daily Telegraph NZ -

The Reserve Bank has cut the official cash rate by 25 basis points to 3.25 percent, citing subdued inflation and spare economic capacity, though...

Major UK bank blames Westpac for lost $158K transfer

Daily Telegraph NZ -

Pensioner Andrew Che Sit Bong lost $158,000 after a digit error during an international transfer from Barclays to a Westpac account in Auckland. Che mistakenly...

Westpac fined $3+ million for misleading and overcharging thousands of customers

Daily Telegraph NZ -

Westpac has been fined $3.25 million by the High Court for breaches involving misleading conduct and overcharging nearly 25,000 customers a total of $6.35...

Banks could be extinct in 10 years – Eric Trump

Daily Telegraph NZ -

Blockchain technology can perform financial transactions more efficiently, the president’s son has said. Banks could face extinction within a decade if they fail to embrace...

Auckland woman may face charges after spending $158,000 mistakenly transferred to her account

Daily Telegraph NZ -

An Auckland woman who spent $158,000 mistakenly transferred to her bank account could face theft charges, according to a legal expert. The money, sent by...

Law firms lose millions in ANZ phone scam

Daily Telegraph NZ -

Several Wellington-based law firms have lost over $2 million in a sophisticated phone scam where criminals impersonated ANZ bank staff. Scammers, pretending to be from...

FMA files criminal charges against former investment advisor

Daily Telegraph NZ -

The Financial Markets Authority (FMA) has filed criminal charges against former financial adviser David McEwen, for failing to comply with an FMA stop order,...

‘Right time to leave’: Orr steps down as Reserve Bank Governor

Daily Telegraph NZ -

Reserve Bank Governor Adrian Orr has announced his resignation, with Chair Neil Quigley stating it was a personal decision made at a time Orr...

Major banks cut interest rates

Daily Telegraph NZ -

Following a 50 basis point cut to the official cash rate (OCR) by the Reserve Bank, all major banks have reduced their floating mortgage...

NZ First introduces Bill to curb ‘woke’ banking practices

Daily Telegraph NZ -

New Zealand First has introduced a Member’s Bill seeking to prevent banks from denying services to businesses based on Environmental, Social, and Governance (ESG)...

Consumer arrears rise

Daily Telegraph NZ -

Consumer arrears increased slightly in December as holiday spending drove higher borrowing, but the pace of growth has slowed, indicating households are managing debt...

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Watch: Ukrainian & Russian gamers scoop $1 MILLION prize in Stockholm final.. before star proposes to girlfriend live on stage

November 9, 2021

Banking and Finance

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Russia to launch rival to Elon Musk’s Starlink – space chief

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