Westpac ordered to pay $ 918m -
Westpac has been ordered to pay $918 million after the Auckland High Court dismissed its challenge against the Commissioner of Inland Revenue over a tax avoidance bill.
ANZ Bank reviews after Westpac loss -
Australia & New Zealand Banking Group is reviewing its legal strategy in light of yesterday’s High Court decision against Westpac Banking Corp.
Listed property up 10% -
The listed property sector gained 9.8% in September, resulting in a more than 55% gain since the sector hit its low in May this year.
Aus unemployment falls -
The jobless rate across the Tasman fell to 5.7% in September, according to latest reading from the Australian Bureau of Statistics (ABS).
Baby boomers hardest hit by GFC -
The recession is continuing to hit the Baby-Boomer generation hard with latest statistics from New Zealand’s largest credit bureau showing a significant 19.37% increase in defaults for those aged 44 to 62 years.
EUFA calls for BlueChip legal fund -
The group championing Blue Chip victims, Exposing Unacceptable Financial Activities (EUFA), has written to the Minister of Commerce and Justice calling for a legal fund to be set up for BlueChip victims.
RBA lifts rates -
Australia has become the first developed nation to reverse the cycle of cuts since the Global Financial Crisis hit. RBA yesterday announced a 25 basis points rise, taking the OCR to 3.25%.
Firms see good times ahead -
NZIER’s October 2009 Quarterly Survey of Business Opinion provides strong evidence that the worst of the recession is over and that the economy is on the mend. Business confidence surged into positive territory in the September quarter (+27% from -14% on a seasonally-adjusted basis), the highest level in a decade.
Confidence on the rise: BNZ -
A net 50% of 20,000 respondents surveyed for the latest BNZ Confidence Survey feel the economy will get better over the coming year.
Houses more affordable -
Houses became more affordable in the three months to 31 August, thanks to lower interest rates, according to Massey University’s latest Home Affordability Report. Home affordability improved by 2.3% in the quarter, albeit less than the 8.5% improvement between February and May.
