Podcasts about tibshraeny

The Commerce Commission has detailed several potential changes in a new 389-page report designed to improve competition in the banking sector.  One change involves establishing a deposit compensation scheme that insures the first $100,000 of an individual or business's savings at a bank, credit union, building society or finance company. NZ Herald Wellington business editor Jenee Tibshraeny examines whether or not this is the way forward. LISTEN ABOVE  See omnystudio.com/listener for privacy information.

The Commerce Commission's final report into New Zealand's banking sector is out.    It says competition isn't working as it should be in the banking sector, and consumers are missing out as a result.  The Commission says in a well-functioning market with strong competition, they'd expect to see more aggressive strategies to win customers from other banks.  Part of its answer is giving Kiwibank greater access to capital, to make it a stronger competitor to the Australian-owned banks.  Also part of the equation is rolling out open banking faster and making changes so it's easier for smaller banks to compete and for consumers to compare and switch banks.  NZ Herald Wellington Business Editor Jenée Tibshraeny told Francesca Rudkin that the issue is that for Kiwibank to grow, it needs more capital, but the Government's finances are tight at the moment.  She said that in order for Kiwibank to grow, the Government would need to dilute its ownership and allow in capital from the private sector.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's shock and excitement across the nation, as the Reserve Bank makes cuts to the OCR for the first time since 2020. The Bank's slashed the cash rate by 25 basis points to 5.25 percent. NZ Herald Wellington business editor Jenee Tibshraeny unpacks what brought this change on - and what caused Governor Adrian Orr to announce this. LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's shock and excitement across the nation, as the Reserve Bank makes cuts to the OCR for the first time since 2020. The Bank's slashed the cash rate by 25 basis points to 5.25 percent. NZ Herald Wellington business editor Jenee Tibshraeny unpacks what brought this change on - and what caused Governor Adrian Orr to announce this. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Around 40,000 McDonald's staff are likely to be compensated, as the fast-food chain corrects a widespread payroll issue dating back 15 years. McDonald's is contacting those employed between November 1, 2009, and December 6, 2020, asking them to check a portal on its website to see if they're eligible for reimbursement. The company is one of countless employers, including government departments, that miscalculated leave entitlements outlined in what's proven to be a very confusing Holidays Act 2003. NZ Herald Wellington business editor Jenee Tibshraeny explains who stands to benefit from this. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Around 40,000 McDonald's staff are likely to be compensated, as the fast-food chain corrects a widespread payroll issue dating back 15 years. McDonald's is contacting those employed between November 1, 2009, and December 6, 2020, asking them to check a portal on its website to see if they're eligible for reimbursement. The company is one of countless employers, including government departments, that miscalculated leave entitlements outlined in what's proven to be a very confusing Holidays Act 2003. NZ Herald Wellington business editor Jenee Tibshraeny explains who stands to benefit from this. LISTEN ABOVESee omnystudio.com/listener for privacy information.

One expert has claimed there are upsides and downsides to the Government's changes to finance laws. From today, the Government is dropping prescriptive affordability regulations from the Credit Contracts and Consumer Finance Act. NZ Herald Wellington business editor explains whether these changes will make it easier on Kiwis looking to buy their first home. LISTEN ABOVESee omnystudio.com/listener for privacy information.

One expert has claimed there are upsides and downsides to the Government's changes to finance laws. From today, the Government is dropping prescriptive affordability regulations from the Credit Contracts and Consumer Finance Act. NZ Herald Wellington business editor explains whether these changes will make it easier on Kiwis looking to buy their first home. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Government has dropped further hints it isn't opposed to diluting its 100% ownership of Kiwibank to enable it to grow. While Kiwibank is expanding, it needs a lot more capital to be the disrupter it was set up to be to challenge the big four Australian-owned banks. NZ Herald Wellington business editor Jenee Tibshraeny speculates about the Government's next steps. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Government has dropped further hints it isn't opposed to diluting its 100% ownership of Kiwibank to enable it to grow. While Kiwibank is expanding, it needs a lot more capital to be the disrupter it was set up to be to challenge the big four Australian-owned banks. NZ Herald Wellington business editor Jenee Tibshraeny speculates about the Government's next steps. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The light at the end of the tunnel could be in sight for mortgage holders after today's OCR update. The Reserve Bank left rates unchanged at 5.5 percent - but the bank has hinted cuts could be coming sooner than initially predicted.  NZ Herald Wellington business editor Jenee Tibshraeny explains how the Reserve Bank's change in tone could impact borrowers.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

The light at the end of the tunnel could be in sight for mortgage holders after today's OCR update. The Reserve Bank left rates unchanged at 5.5 percent - but the bank has hinted cuts could be coming sooner than initially predicted.  NZ Herald Wellington business editor Jenee Tibshraeny explains how the Reserve Bank's change in tone could impact borrowers.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Finance Minister Nicola Willis isn't receptive to calls for the establishment of an independent unit to check Treasury's forecasts and ensure Government spending is sustainable. The International Budget Partnership and Organisation for Economic Co-operation and Development (OECD) are among the organisations that believe New Zealand needs an institution that both costs policies and keeps tabs on the Government's finances. They argue it would provide more accountability and align New Zealand with the 80% of OECD countries that have such institutions. NZ Herald Wellington business editor Jenee Tibshraeny explains why Nicola Willis has her doubts. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Finance Minister Nicola Willis isn't receptive to calls for the establishment of an independent unit to check Treasury's forecasts and ensure Government spending is sustainable. The International Budget Partnership and Organisation for Economic Co-operation and Development (OECD) are among the organisations that believe New Zealand needs an institution that both costs policies and keeps tabs on the Government's finances. They argue it would provide more accountability and align New Zealand with the 80% of OECD countries that have such institutions. NZ Herald Wellington business editor Jenee Tibshraeny explains why Nicola Willis has her doubts. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Gloriavale has taken a knock in its battle to maintain access to banking services. BNZ has been trying to close Gloriavale's accounts for the last two years, and the Court of Appeal is allowing BNZ to challenge that injunction. NZ Herald Wellington business editor Jenee Tibshraeny explains what comes next in this case. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Gloriavale has taken a knock in its battle to maintain access to banking services. BNZ has been trying to close Gloriavale's accounts for the last two years, and the Court of Appeal is allowing BNZ to challenge that injunction. NZ Herald Wellington business editor Jenee Tibshraeny explains what comes next in this case. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Prime Minister Luxon's managed to find himself in hot water after some off-colour comments about previous business delegations. Ahead of his trip to Japan, the Prime Minister said the calibre was lacking in earlier delegations, labelling prior groups 'C-list'. NZ Herald Wellington business editor Jenee Tibshraeny explains why Luxon's comments seemed particularly awkward. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Prime Minister Luxon's managed to find himself in hot water after some off-colour comments about previous business delegations. Ahead of his trip to Japan, the Prime Minister said the calibre was lacking in earlier delegations, labelling prior groups 'C-list'. NZ Herald Wellington business editor Jenee Tibshraeny explains why Luxon's comments seemed particularly awkward. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The top brass at the country's banks, as well as their regulators, are due to be publicly questioned by politicians about the level of competition in the banking sector. Finance Minister Nicola Willis has asked Parliament's Finance and Expenditure Committee to lead an inquiry into competition in the banking sector. The inquiry will draw on the draft findings of the Commerce Commission's big market study into retail banking, which is due for completion by August 20. NZ Herald Wellington business editor Jenee Tibshraeny explains the possible outcomes of this inquiry. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Government's tax take has surpassed Treasury's expectations for the first time in a while. This positive result was found to have come from efforts to minimise the amount of tax trustees pay.  NZ Herald Wellington business editor Jenee Tibshraeny says this shows how hard companies worked to flush out their retained earnings.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Government's tax take has surpassed Treasury's expectations for the first time in a while. This positive result was found to have come from efforts to minimise the amount of tax trustees pay.  NZ Herald Wellington business editor Jenee Tibshraeny says this shows how hard companies worked to flush out their retained earnings.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Reserve Bank governor Adrian Orr has stepped up his verbal war against the big four banks. It's been revealed Orr sent a letter using 'colourful' language to defend the amount of capital the Reserve Bank requires these banks to hold. NZ Herald Wellington business editor Jenee Tibshraeny explains the issue further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Reserve Bank governor Adrian Orr has stepped up his verbal war against the big four banks. It's been revealed Orr sent a letter using 'colourful' language to defend the amount of capital the Reserve Bank requires these banks to hold. NZ Herald Wellington business editor Jenee Tibshraeny explains the issue further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Reserve Bank left the OCR unchanged today - but people may have to hold out for rate cuts. RBNZ Governor Adrian Orr revealed the bank considered hiking rates past 5.5 percent, and there's still scope for a potential hike this year. The committee also pushed out its projected timeframe for its first OCR cut from mid-2025 to around September 2025. NZ Herald Wellington business editor Jenee Tibshraeny says today's update marked a change of tone from the bank. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Reserve Bank left the OCR unchanged today - but people may have to hold out for rate cuts. RBNZ Governor Adrian Orr revealed the bank considered hiking rates past 5.5 percent, and there's still scope for a potential hike this year. The committee also pushed out its projected timeframe for its first OCR cut from mid-2025 to around September 2025. NZ Herald Wellington business editor Jenee Tibshraeny says today's update marked a change of tone from the bank. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Ahead of the May Budget, experts have noticed the Reserve Bank's balance sheet has grown over the years. The value of assets held by the RBNZ has has quadrupled since 2019, peaking at $104 billion in February 2023. NZ Herald Wellington business editor Jenee Tibshraeny explains what's causing all this. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Ahead of the May Budget, experts have noticed the Reserve Bank's balance sheet has grown over the years. The value of assets held by the RBNZ has has quadrupled since 2019, peaking at $104 billion in February 2023. NZ Herald Wellington business editor Jenee Tibshraeny explains what's causing all this. LISTEN ABOVESee omnystudio.com/listener for privacy information.

One expert has noticed New Zealand's biggest banks don't seem to be rushing to get more information about the insurability of the properties they lend against. The Reserve Bank wants banks to keep a closer eye on the long-term insurability of properties they lend against, amid concerns about natural risks. NZ Herald Wellington business editor Jenee Tibshraeny explains the moves the banks could take to address these issues. LISTEN ABOVESee omnystudio.com/listener for privacy information.

One expert has noticed New Zealand's biggest banks don't seem to be rushing to get more information about the insurability of the properties they lend against. The Reserve Bank wants banks to keep a closer eye on the long-term insurability of properties they lend against, amid concerns about natural risks. Jenee Tibshraeny explains the moves the banks could take to address these issues. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The OECD has released its detailed biennial report on New Zealand's economy, ahead of the 2024 Budget. It lays out suggestions to improve productivity - highlighting competition. NZ Herald Wellington business editor Jenee Tibshraeny says the OECD thinks the Government could more aggressively break up monopolies and duopolies, like supermarkets. "It did recognise that, in a small country like New Zealand, we have some of these big players dominating key sectors. They have such control over the market - that does stymie the innovation." LISTEN ABOVESee omnystudio.com/listener for privacy information.

The OECD has released its detailed biennial report on New Zealand's economy, ahead of the 2024 Budget. It lays out suggestions to improve productivity - highlighting competition. NZ Herald Wellington business editor Jenee Tibshraeny says the OECD thinks the Government could more aggressively break up monopolies and duopolies, like supermarkets. "It did recognise that, in a small country like New Zealand, we have some of these big players dominating key sectors. They have such control over the market - that does stymie the innovation." LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Government plans to tax commercial property owners an extra $575 million a year in order to fund residential property and income tax cuts.  Finance Minister Nicola Willis is standing by her decision to remove ability for commercial and industrial owners to deduct depreciation as an expense going forward. NZ Herald Wellington business editor Jenee Tibshraeny explains the impact of these changes. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Government plans to tax commercial property owners an extra $575 million a year in order to fund residential property and income tax cuts.  Finance Minister Nicola Willis is standing by her decision to remove ability for commercial and industrial owners to deduct depreciation as an expense going forward. NZ Herald Wellington business editor Jenee Tibshraeny explains the impact of these changes. LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's been more light shined on the conflicting coverage of public sector job growth. Labour's Chris Hipkins has justified the growth of the public sector under the previous Government- does he have a point? NZ Herald Wellington business editor Jenee Tibshraeny explains both sides of the issue. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Reserve Bank held the OCR steady at 5.5 percent, but warned people about the risk that came with increased rates. Governor Adrian Orr says rates will need to stay high for a sustained period- and warned this could lead to more unemployment and financial stress 'than expected'. NZ Herald Wellington business editor Jenee Tibshraeny says the RBNZ's 'engineered recession' came with risks- and we're seeing the results. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The country's biggest banks are pushing back against measures to share their data and increase competition through open banking. The Commerce Commission wants financial technology firms to link up with the banks- and have urged the Government to crack the whip. NZ Herald Wellington business editor Jenee Tibshraeny says this issue has been going on in the background for several years. LISTEN ABOVESee omnystudio.com/listener for privacy information.

One expert has labelled the Government's Budget Policy Statement a 'sobering reality check' with no surprises. The Finance Minister says a surplus is unlikely to happen by 2026/27 and Treasury has warned the economy will slow down- forcing the Government to borrow more. NZ Herald Wellington business editor Jenee Tibshraeny unpacks what this could mean for the proposed tax cuts. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Everybody's looking forward to extra tax cuts- but some people will have to take a hit to pay for them. The Government has confirmed new changes to the income tax system are coming from April 1, and commercial and industrial building owners are uniquely affected for the worse. NZ Herald Wellington business editor explains why they won't be able to deduct depreciation as an expense under these rules. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Reserve Bank and Treasury are designing a new deposit insurance scheme. However, Credit unions, building societies and finance companies have voiced concern that these measures could impact their bottom lines. NZ Herald Wellington business editor Jenee Tibshraeny explains the risks and benefits involved in this scheme. LISTEN ABOVESee omnystudio.com/listener for privacy information.

BNZ is following other banks in cutting some mortgage rates, following ANZ and ASB. This comes off the back of last week's Reserve Bank decision to keep the Official Cash Rate unchanged at 5.5 percent. NZ Herald Wellington business editor Jenee Tibshraeny says higher interest rates are driving prospective home buyers away- and the banks need to win people back. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Finance Minister Nicola Willis wants to exempt some trusts from paying the new 39 percent trustee tax rate. She hinted the Government planned to modify the bill aimed at lifting the trustee tax rate from 33 percent to 39 percent from April 1. NZ Herald Wellington business editor Jenee Tibshraeny explains how Nicola Willis plans to determine these exemtions. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The New Zealand Transport Agency is warning some proposed transport projects could cost more than the Government bargained for. NZTA has estimated the roads and public transport schemes National campaigned on could leave a fiscal hole of $24 billion. NZ Herald Wellington business editor Jenee Tibshraeny says the transport agency recognises several factors will drive up the cost of these projects. LISTEN ABOVESee omnystudio.com/listener for privacy information.

ASB has warned mortgage holders to be prepared for 'any eventuality' when it comes to interest rates. Chief executive Vittoria Shortt says borrowers shouldn't bank on one particular scenario when it comes to future rate hikes. This follows ANZ economists issuing a 'hawkish' prediction that the OCR could go up two more times in the near future. NZ Herald Wellington business editor Jenee Tibshraeny explains further. LISTEN ABOVE  See omnystudio.com/listener for privacy information.

The Reserve Bank of New Zealand has requested more money from the Government to cover the cost of their vault refurbishments. NZ Herald Wellington business editor Jenee Tibshraeny explains that these underground vaults are quite old and need 'significant' repair. "The Reserve Bank has warned the new Finance Minister, Nicola Willis, that it's going to need quite a bit of money to upgrade the vaults." LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Government has decided against scrapping a new regime aimed at preventing banks, insurers and non-bank deposit takers from mistreating customers. This Code of Conduct was established following a 2018 Royal Commission exposing questionable behaviour by Australian banks. NZ Herald Wellington business editor Jenee Tibshraeny explains why institutions were surprised by this 'inevitable' announcement. LISTEN ABOVE  See omnystudio.com/listener for privacy information.

Questions are being raised over what incoming restrictions from the Reserve Bank mean for first home buyers. The banking regulator proposed debt-to-income restrictions for owner-occupiers, to be introduced mid-2024. NZ Herald Wellington business editor Jenee Tibshraeny says this is unlikely to set off alarms for prospective buyers, as interest rates are a bigger issue. LISTEN ABOVESee omnystudio.com/listener for privacy information.

New Zealand's current account deficit remains stubbornly high, according to the latest data. A new report shows the country spent $30.6 billion more on imports than it earned from exports in the year to September, the equivalent to 7.6 percent of GDP. NZ Herald Wellington business editor Jenee Tibshraeny explains what this data means for Kiwi spending habits. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Reserve Bank is downplaying the impact of new mortgage lending rules they might impose on banks. It's given the banks until April 2024 to prepare for debt-to-income ratio restrictions to be imposed- but has indicated new changes will be too restrictive. NZ Herald Wellington business editor Jenee Tibshraeny says DTI restrictions are unlikely to have too much of an impact on prospective borrowers. LISTEN ABOVESee omnystudio.com/listener for privacy information.

With Chris Bishop, Dr Erik Monasterio, Liam Hehir, Jenée Tibshraeny, and Josephine Bartley

The incoming Government has agreed to disestablish the Productivity Commission, as ACT requested. Staff are disappointed, yet unsurprised, as many were concerned the agency had become too politicised. NZ Herald Wellington business editor Jenee Tibshraeny says there were already tensions between chair Ganesh Nana and former staffers. LISTEN ABOVESee omnystudio.com/listener for privacy information.