Author: Press Room

Major banks are continuing to jockey for rate advantages following last week’s OCR cut, with BNZ and Westpac the latest to cut some fixed rates.This morning, BNZ announced it had cut a number of its fixed rates, including its 18-month offering to 4.95%.It was also offering 5.49% p.a. for six months, and 4.99% p.a. for one and two years.Earlier this month, BNZ also said it was cutting a range of rates on its term deposits. The new fixed rates are available from today for both new customers and existing customers who are eligible to refix. This afternoon, Westpac also announced…

ADVERTISEMENTSurvivors of a deadly Russian missile attack and the doctors treating them have spoken of their horror at what unfolded in the northeast Ukrainian city of Sumy last week. Back-to-back missile strikes on Sunday morning killed 35 people and injured more than 100 others, making it the most fatal Russian attack on civilians in Ukraine so far this year. “I can’t understand these people, the people who send these missiles,” said Oleksandr Zaitsev, acting head of the local hospital’s intensive care unit. “In the 21st century, there are people who like to kill other people. I’m just shocked.”   The…

Air New Zealand expects to bank $20 million of unused creditsAir New Zealand is expecting to make $20 million in six months from travel credits that customers won’t use.The airline told the NZX on Wednesday it expects its full-year underlying profit to be down as much as a third compared to last year given a “substantial” drop in the compensation it expects to get from engine manufacturers for its grounded aircraft.The national carrier estimates earnings before taxation for the 2025 financial year to be within a range of $150m to $190 million, compared with $222m last year.Air New Zealand said…

Britain’s Financial Reporting Council is investigating EY over its audit of Post Office Ltd, amid the lingering fallout from one of the country’s worst miscarriages of justice. The FRC said in a statement on Wednesday it would focus on the audit firm’s role in approving the Post Office’s financial statements from 2015 to 2018, particularly the Horizon IT system which was at the heart of the scandal. “We have been notified of the FRC’s intention to open an investigation into the EY audits of Post Office Limited for the financial years ending March 2015 – March 2018,” a spokesperson for EY…

One person has died and three others taken to hospital following a crash that closed State Highway 2 north of Napier earlier this morning. The two-vehicle crash near Tangoio Settlement Rd closed State Highway 2, Tangoio just before 9am.”One person died at the scene, three others were transported to hospital, two with serious injuries and one with moderate injuries,” a police spokesperson said. The road remained closed, and diversions were in place. New Zealand Transport Agency Waka Kotahi warned motorists that investigations could take several hours to complete.

One of the world’s largest planes has landed at RNZAF Base Ohakea, delighting plane-spotting enthusiasts.An Antonov AN-124 touched down at the air base just before 12.40pm, after flying nearly five hours from American Samoa. The Air Force described the plane as a “colossal” in a post this afternoon.Landing at Ohakea, near Palmerston North, the plane was delivering components for a new P-8A Poseidon maritime surveillance aircraft training facility. The facility is part of the existing $2.3 billion project that delivered four Boeing P-8A Poseidon maritime patrol aircraft in 2023, along with mission systems, ground support equipment and spare parts.Planespotters watch…

One of Auckland’s southern suburbs, Takanini, has launched a new community patrolp branch.Driven by the Sikh community and some local volunteers, the initiative is being backed by Auckland Council and police.The grassroots effort aims to put more eyes and ears on the street as residents report growing concerns about crime.A new Community Patrols New Zealand (CPNZ) vehicle prepares to hit the streets of Takanini, part of a grassroots safety initiative led by the local Sikh community and volunteers. (Source: Local Democracy Reporting)Gurdwara Sri Kalgidhar Sahib hosted the launch on Monday, at which speakers described the community patrols as a turning…

The Reserve Bank’s operating budget for the coming year has been slashed by about 25 per cent. The reduction in spending, which appears to be driven by increased staffing levels, has been agreed to by both the central bank and the government. It follows Adrian Orr’s abrupt resignation as the Reserve Bank’s governor last month. Unlike most other agencies, which receive annual funding through the Budget process, the Reserve Bank’s board negotiates five-year funding agreements with the Minister of Finance, who receives advice from the Treasury. In a statement on Wednesday, Finance Minister Nicola Willis said the bank’s board and Treasury were of…

Authorities in northern New Mexico released police body camera video and other public records today in the investigation into the deaths of Gene Hackman and his wife, Betsy Arakawa. The two were found dead February 26 in their Santa Fe home.Hackman, 95, died of heart disease with complications from Alzheimer’s disease about a week after Arakawa, 65, died of hantavirus.The records detail some of Arakawa’s last emails, phone calls and internet searches that appear to show she was looking for information on flu-like symptoms and breathing techniques. The documents and video recordings were released after a court ruled that most…

A Christchurch man has been sentenced to more than three years in prison for his involvement in the illegal importation and manufacture of tobacco products.The raw ingredients were brought into New Zealand disguised as loose tea leaves from China. The 42-year-old was found guilty of nine charges, including the unlicensed manufacture of tobacco products, burglary, possession of uncustomed goods, removal of goods from a Customs Controlled Area, and defrauding Customs of $1.56 million in revenue.Today, he was sentenced in the Christchurch District Court to three years and four months in prison.The man was arrested on June 24, 2024, following a…