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News From Other News Outlets

25 September 2023

1. Banks
• 'How bad does it have to get?' BNZ record profit prompts call for inquiry
• ANZ posts half-year profit of more than $1 billion, up 14%
• Westpac announces big fall in profits
• ANZ, ASB, BNZ and Westpac given until late 2024 to be ready for open banking
• Commerce Commission to probe retail banking competition
• Rising threat of bad loans pushes bank profits down for first time in almost two years
• Treasury dubbed big four bank profits 'supernormal' in advice on windfall taxtax
• ASB reports record full-year profit of $1.56b
• Westpac strike: 'Capitalist pig' at Britomart, union says bank HQ aggravating staff
2. Bluff Aluminium Smelter
• Rio Tinto books $122 million profit from NZ aluminium smelter
• Rio Tinto signals no election games over aluminium smelter
• Contaminated waste from Tiwai smelter found at disused Southland coal mine
3. Digital Transnationals
• Google NZ pays $870m fee to US parent, books $78m local revenue
• NZ left off Google's global anti-scam plan while victims lose millions
• Government dusts off plan for new revenue tax on multinational technology giants
• Election 2023: Grant Robertson's digital services tax on Big Tech 'a drop in the ocean'
• Revealed: Amazon's efforts to work its way into the NZ healthcare system Te Whatu Ora
4. Waste-To-Energy Plant
• Submissions filed against proposed incinerator with Overseas Investment Office
• Waste-To-Energy plants - who's behind the proposal and where is the money coming from?
5. Land Sales
• 13-year-old consent to sell Bay of Islands lots to overseas investors deemed valid
• $97,500 fine for Hong Kong controlled partnership that bought 'sensitive' Hamilton land without permission
6. Corporate Welfare
• Corporate welfare or co-investment? Role of state back in play for election
7. Black Rock
• $2 billion fund can't solve the problem in getting to 100% renewables
8. Glenbrook Steel Mill
• Steel mill's move to electricity cleans up its act. Could there be dirty repercussions?
9. PwC
• Government has no plans to investigate PwC despite Australian senator warning
10. Insurance
• Country's largest insurer IAG posts profit increase of 138% despite cyclone and flood claims
11. Undertakers
• Death of the independents: Australian funeral giant pushes further into NZ, snapping up more funeral homes
12. TAB
• TAB outsourcing deal risks putting wolf in sheep's clothing
13. Forestry
• Dutch forestry giants linked to Ikea cleared to buy 1600ha more NZ land
14. US Transnational 3M Cuts NZ Jobs
• American multinational 3M confirms NZ job cuts
15. One NZ Cops Record Fine
• One NZ cops biggest Fair Trading Act breach fine for misleading customers
16. DJ Software Firm
• US firm InMusic questions Serato's $113m offshore sale, Overseas Investment Office again delays decision

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P.O. Box 2258
Christchurch.