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Latest from Banking and finance
China leaves Australia drowning in lake of unsold wine
FT: With 2b litres in storage the industry hopes tariff resolution will boost trade.
The sledgehammer needed to smash unemployment and inflation
A lagging pain from the sting of central bank hikes could start to set in.
Former Wirecard executive linked to alleged Russian spying ring
Financial Times: Former COO named as connection to Bulgarian nationals accused of spying.
KPMG baffled by National’s pledge to ditch financial services conduct law
The law is meant to regulate banks and insurers over how they treat customers.
Martin Wolf: How China can avoid the Japan trap
Financial Times: Has China’s period of relatively rapid economic growth come to an end?
Sharesies users get new instant pay wallet refill option with two big banks
Bigger wallet top-ups cheaper with open banking than using credit card, Apple or Google.
Royal carpet maker Victoria’s shares tumble on auditor’s fraud risk warning
Financial Times: Kiwi financier Geoff Wilding took helm, presided over share price surge.
Western companies take slow steps towards China ‘de-risking’
Financial Times: Strategies focus on ways to insulate China operations, not reduce them.
Opinion: Bosses won’t like it but WFH is a happier way to work
Financial Times: Employees will continue to prize remote work even as the market shifts.
Kiwibank lifts mortgage rates as all eyes go on next OCR move
Last week's strong GDP raised expectations mortgage rates would continue to climb.
‘Milestone’ moment: Why economists think the global cycle of rate rises is over
Financial Times: Evidence mounts that inflationary pressures are easing.
Car industry recovery has favoured investors and bosses over workers
Financial Times: Carmakers return almost $143b to shareholders and raise CEO pay.
Consumer confidence plummets further
The big concern for New Zealand households is the pressure on their finances.
Why nobody invites the boss to dinner any more
Financial Times: When I told colleagues about the evening, they were all aghast.
The Costco effect: One year on from giant US retailer's NZ launch
More than 150,000 Kiwis have signed up.
NZ no longer in recession, GDP result exceeds expectations
Strong exports, IT services, manufacturing helped drive growth in second quarter.
Federal Reserve signals fresh rate rise this year and fewer cuts in 2024
Financial Times: Treasury yield hits highest level since 2006 after hawkish projections.
He offered to buy an Auckland house - when he couldn't pay, it cost him $429,000
Would-be buyer argued vendors should have accepted his lower offer, but he failed.
Why don’t people leave bad jobs?
Financial Times: More work security might make the labour market more flexible, not less.
Cost-of-living crisis sees KiwiSaver put on the back burner
KiwiSaver hardship withdrawals spike to levels not seen since the height of the pandemic.
Under-reporting: Netsafe says online fraud actually costs Kiwis $470m per year
The cost has doubled since a 2018 report; Netsafe funding and oversight changes are eyed.
Saudi Arabia’s energy minister says oil cuts not about ‘jacking up prices’
Financial Times: Prince Abdulaziz bin Salman defends lower output as crude nears US$95.
GST debt prompts Inland Revenue to liquidate clothing retailer
Problems included ill health, credit facility withdrawal, economic conditions, overheads.
Opinion: Stakes of the US car worker strike could not be higher
Financial Times: If Biden can’t bridge gap between bosses and labour, Trump could win.
How geopolitics threatens Apple’s dependence on China
Financial Times: Beijing's restrictions on government use of Apple products pose problems.
The plight of the hidden carers in your workforce
Financial Times: Millions of staff secretly juggle busy jobs with demanding caring duties.
Forged FMA document: Fake financial adviser pleads guilty
He falsely held himself out as a financial adviser in an email to clients.
Are we out of recession? Economists make their picks
After two quarters of contraction, has the economy rebounded - and can it last?
Opinion: Sex, lies and magical thinking about CEO behaviour
Financial Times: BP is another example of how boards are stepping up their scrutiny.
Arm IPO delivers US$84m fees bonanza for its advisers
Financial Times: Costs of flotation are the highest Wall Street has seen for five years.
Credit Suisse bond investors plot lawsuit against Switzerland
Financial Times: Group plans to sue Swiss government in US courts.
Diana Clement: How much are you paying in 'lazy tax'?
OPINION: Banks make money from our complacency.
The incredible resilience of the music industry
Financial Times: How the major labels have remade themselves throughout the digital era.