Author: Press Room

ASB has dropped some of its fixed term mortgage rates, as well as some term deposit rates for savers.It has lowered its six-month home loan rate 10 basis points to 5.79%, its four-year rate 20 basis points to 5.59% and five-year rates 10 basis points to 5.69%.The bank said it is the fifth time it had lowered fixed mortgage rates this year.”We’re seeing a growing number of customers splitting their mortgages across different terms to hedge their bets in the current climate, and we’re pleased to be able to offer a range of lending options to suit homeowners’ and homebuyers’…

Car theft numbers from the start of the year suggests thieves are becoming more sophisticated, an insurer says.AMI Insurance has received almost 700 claims relating to vehicle theft and attempted theft since the start of the year for Auckland alone.Twenty-two of the stolen vehicles had keyless entry and were locked at the time.AMI executive general manager of claims Wayne Tippet said while the proportion of keyless cars stolen was small, thieves were adapting to new technology.”Now, keyless entry is, you know, super common,” he said.”So no surprise that, as technology changes, people looking to access those vehicles are also thinking…

A New Zealand digital fin-tech company is making a significant splash in India – and has signalled its excitement about future opportunities while travelling on the Prime Minister’s business delegation this week.Founded by Carmen Vicelich, Valocity Global first started in New Zealand, then expanded to Australia and eventually on to India.“They pretty much say, ‘if you can do it India you can do it anywhere,’” Vicelich said.Valocity combines digital workflows with advanced data insights on property valuations ultimately allowing banks to review and approve lending for customers.Valocity is currently working with over 20 banks in India.1News’ Maiki Sherman reports from…

First, it was eggs. Then, it was olive oil. Now, it’s butter.Last week, Stats NZ said butter prices had climbed 60% in 12 months. That’s presented a dilemma for everyone from pastry chefs to home cooks who rely on it to bring distinctive flavour, texture and function to all kinds of culinary creations.”Well, to be honest, it’s been hard for a long time and it’s only getting harder and harder,” says Suzannah Bath, an Auckland-based pastry chef.Turning to made-for-vegan options, such as olive oil spread Olivani, isn’t easy either because they are often just as expensive, she says.But that doesn’t…

Zelenskyy said releasing all prisoners of war and captured civilians would be an important step toward peace. ADVERTISEMENTRussia and Ukraine each swapped 175 prisoners of war on Wednesday in one of the largest exchanges since the start of Russia’s full-scale invasion of Ukraine three years ago.The released servicemen were captured in multiple regions, including Mariupol, the Azovstal steel plant, Donetsk, Luhansk, Kherson, Kharkiv, Mykolaiv, Zaporizhzhia, Sumy, and even Kursk.After prisoners were released at the northern border of the two countries, they were then taken to a hospital in Ukraine’s Chernihiv, where family members awaited their arrival. “All of them will…

By Shelley Topp From the adversity of a devastating fire, one of the most modern and sophisticated small drill manufacturing plants in the world has risen in Canterbury. Sutton Tools New Zealand will officially open its new factory today on Todds Rd, Southbrook. It will replace the company’s former Kaiapoi factory, which was damaged beyond repair in an early morning fire in January 2022. General manager Kevin Donovan says the new site allows for diversification and further development ‘‘when we are ready’’. ‘‘First and foremost though the new building is a safe, modern workspace for our team, something they deserve…

Aucklanders are being asked to reduce their outdoor water usage as the city prepares for more dry weather. Water dam levels have dropped below a trigger point which sees the city in the “preparing for drought” level in its Drought Management Plan. Watercare’s chief operations officer Mark Bourne said Auckland’s water usage is higher than usual for this time of year which he suggests is due to people watering their gardens. “We’re not asking people to stop watering their gardens – we just want everyone to be more mindful of their water use, particularly outdoors. “Most gardens don’t need to…

The New Zealand economy has climbed out of recession after GDP rose by 0.7% in figures released today.The economy had previously met the widely accepted definition of recession, with two successive quarters of contraction.It fell 1% in the September quarter after being down 1.1% in the three months to June.Today’s numbers showed 11 of the 16 industries surveyed experienced an increase this quarter, from October to December last year. The largest rises were from rental, hiring and real estate services as well as retail trade and accommodation, Stats NZ said.Healthcare and social assistance also grew. At the other end of…

By Susan Edmunds of RNZ ASB has cut a number of its fixed home loan rates. It said it was the fifth fixed mortgage rate drop this year. The six-month rate drops by 10 basis points to 5.79 percent, and the four and five-year rates by 20 and 10 basis points, respectively, to 5.59 percent and 5.69 percent. ASB executive general manger personal banking Adam Boyd said a growing number of customers were splitting their mortgages across different terms. The drops take effect immediately. Earlier, Squirrel chief executive David Cunningham said borrowers were frequently choosing a one- and two-year split or a…

A second person has appeared in court charged with inappropriate handling of human remains and obtaining more than $18,000 by deception.The 53-year-old denied all charges and has elected trial by jury when he made his his first appearance in Auckland District Court today.Court documents show the Auckland man faces two charges of obtaining money by deception, amounting to more than $18,000, between 2015 and 2022.He also faces a charge of neglecting to properly seal and line a casket.The appearance comes as police continue to investigate allegations of mishandled burials at Auckland’s Waikumete Cemetery under Operation Lola.Police have been examining complaints…