Author: Press Room

Bank rules designed to stop money laundering, and the withdrawal of physical branches, may be making it harder for people to open bank accounts, Reserve Bank research has shown.It has found a third of frontline staff said they were unable to open a bank account for a customer either on a monthly or weekly basis.The main barriers were customer due diligence requirements, which are used to meet anti-money laundering laws, and the way those laws are implemented.Problems included people who did not have proof of address or photo identification, language barriers, or lack of access to a bank branch.The Reserve…

European Commissioner Maroš Šefčovič is heading to China as the country’s companies come under the EU’s investigatory lens. But with a trade war with the United States intensifying, what’s he after in a rapprochement between the EU and China? ADVERTISEMENTFor the first time since taking office, EU Trade Commissioner Maroš Šefčovič will travel to China on 27 and  28 March to meet China’s vice premier He Lifeng, Minister for Customs Sun Meijun and Minister of Commerce Wang Wentao. Maroš Šefčovič’s visit to the Asian giant, against a backdrop of tense trade negotiations with the Americans, will be closely scrutinised. Here are…

A New Zealand woman who found her biological father with the help of a genetic testing company is alarmed at news of the company’s bankruptcy and is warning the security of highly personal data may be at risk.23andMe announced it had filed for bankruptcy on Monday and is looking for a buyer.Although it promised to protect customer data throughout the process, California’s attorney-general has advised users to consider deleting their information.Rebecca Hamilton said the genetic testing company was an “absolute lifeline” for her when she was searching for her biological father.”I tried every possible avenue. It was the only place…

The claims appear to have sprung from reports that the Nordic countries have started advising citizens to keep a supply of cash at home in the case of a digital banking crisis. ADVERTISEMENTA false narrative spreading online claims that Norway and Sweden are doing away with e-money and are returning to a fully cash-based society.For example, one post circulating on social media says the countries are now going back to paying in cash because they’ve supposedly realised that it’s the most secure payment method, as digital accounts allow the authorities to block your transactions.Another popular post says that Sweden is…

A former Invercargill councillor has been ordered to clear her gorse-covered section after losing a battle with the council she once represented.But Karen Arnold says she is giving no regard to the outcome and blames the gorse on neighbouring land which is co-owned by Invercargill City Council.The vacant section in question at Theodore St, Bluff, has failed eight inspections since 2022.On March 4, it was the subject of a hearing after Arnold took exception with a December notice which requested it be cleared of long grass and noxious plants within 60 days.Arnold is adamant the cause of gorse and broom…

The meeting takes place as the United States announced that it had brokered a truce between Russia and Ukraine in the Black Sea. ADVERTISEMENTWorld leaders will gather in Paris on Thursday for a high-stakes summit on Ukraine’s security and to lay the groundwork for long-term security guarantees. According to the Élysée Palace, 31 countries, including NATO and EU members such as the United Kingdom, Canada and Norway are expected to attend.On Wednesday evening, Macron will host Ukrainian President Volodymyr Zelenskyy in Paris for a working dinner ahead of the summit. “France will make the pursuit and reinforcement of military and…

Water Safety New Zealand is calling for portable pools under 1.2 metres to be withdrawn from sale.It also agrees with the coroner’s recommendation temporary pools 1.2 metres and higher need to have a gated entry, after an investigation into child drownings.Since 2015, 54 children aged five and under have drowned in New Zealand – 19 of which were in pools.But it was the summer of 2021 to 2022 which prompted an investigation by the coroner, when eight children under the age of six drowned.Water Safety NZ’s Gavin Walker said the tragedies “highlight some lessons that must be taken seriously and…

Recent developments in the Turkish political landscape hint the country’s shift to what critics may call an even more authoritarian rule ADVERTISEMENTTurkey has witnessed waves of protests following the detention of Istanbul Mayor Ekrem Imamoglu, a key political rival to President Recep Tayyip Erdogan on corruption charges. With the arrest of more than a thousand demonstrators, critics fear a slide towards authoritarianism.On Monday last week, a European Commission spokesperson urged Turkey to “uphold democratic values”. However, neither Commission President Ursula von der Leyen nor her European Council counterpart Antonio Costa have publicly addressed the issue.The underlying reason seems to be…

Siblings Faith Sinclair and Daniel Peach’s lives are overshadowed by a rare and devastating disease many people have likely never heard of.Sialidosis is a metabolic disorder caused by a defective gene – NEU1 – which leads to irreversible symptoms.There are only around 55 people diagnosed worldwide.“Sialidosis is a progressive disorder, so you start off with symptoms, for me and my siblings we were aged 18 and as we get older it obviously gets worse,” Sinclair told Breakfast.”So day to day it gets harder because of the symptoms that we have.”The symptoms look different for every person.Faith Sinclair and Daniel Peach…

Changes planned for the Resource Management Act (RMA) should reduce house prices and improve supply – provided they are able to be enacted, economists say.The Government announced on Monday that it plans to introduce two new pieces of legislation to replace the Act by the end of this year.It will streamline planning systems between councils, lift the number of “permitted activities” and set environmental limits.It said this should reduce administrative and compliance costs by 45%.RMA Reform Minister Chris Bishop and Undersecretary Simon Court said replacing the RMA with law based on property rights would grow the economy and lift living…