CORRECT: NAB's Henry and Thorburn fall on their swords
(Corrects 9th paragraph to show it wasn't Thorburn's decision to cease using mortgage brokers) By Jenny Ruth Feb. 8 (BusinessDesk) - National Australia Bank’s chair Ken Henry and chief executive Andrew Thorburn have fallen on their swords in the wake of Kenneth Hayne’s fina...
NZ dollar dives after weaker than expected jobs data
By Jenny Ruth Feb. 7 (BusinessDesk) - The New Zealand dollar fell an Australian cent and three-quarters of a US cent after weaker than expected employment figures revived the possibility that the Reserve Bank may cut interest rates. The kiwi was trading at 67.54 US cents at...
IAG's NZ premium growth and margins outpace Australia
By Jenny Ruth Feb. 7 (BusinessDesk) - Australian insurance giant IAG’s premium growth from its New Zealand operations was nearly twice as brisk as in its home market in the six months ended December, although down 42 percent from a year earlier. IAG, which claims about 45 p...
CBA delivers good news for ASB perpetual preference shares investors
By Jenny Ruth Feb. 7 (BusinessDesk) - Investors in ASB perpetual preference shares are likely ecstatic that Commonwealth Bank of Australia has decided to redeem them on May 15. CBA says the two tranches of preference shares, issued in 2002 and 2004 with face values of $200...
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