Latest News
All the latest NZ & Australian financial news
Banking & Finance
NZFinance Minister Defends New $209 Million Prudential Levy, Dismissing Pass-Through Concerns
New Zealand Finance Minister Nicola Willis has defended a new $209 million prudential levy introduced in Budget 2026. Willis expressed confidence that major banks will absorb the regulatory costs rather than pass them on to consumers.
Business & Markets (ASX)
AULeading Brokers Upgrade Three Prominent ASX Shares Following Key Corporate Updates
Leading brokers have upgraded key ASX shares including Guzman Y Gomez, Life360, and Web Travel Group. These recommendations highlight strong target prices, strategic capital management initiatives, and robust financial projections for the upcoming week.
Business & Markets (ASX)
AUASX 200 Rebounds on Friday's Close as Geopolitical Hopes Ease Inflation Fears
The S&P/ASX 200 index experienced a significant 1.62% rebound to close at 8,731.70 points on Friday, May 29, 2026. This surge, driven by mining and banking gains, was fueled by hopes of a tentative 60-day US-Iran ceasefire extension.
Business & Markets (NZX)
NZNZX Market Mixed: Tourism Holdings Soars on Takeover Offer as Taiko Reports Loss
New Zealand's sharemarket closed mixed as a massive 24% surge in Tourism Holdings, sparked by a revised NZ$3.10 takeover offer from BGH Capital, offset a widened annual loss of $8.7 million from newly listed Taiko Critical Minerals.
Economy
AUAustralia's Unemployment Rate Climbs to 4.5% as Job Market Shows Softening Trend
Australia's unemployment rate climbed to 4.5% in April 2026, representing its highest level since late 2021. The softening of the job market has prompted expectations that the Reserve Bank of Australia will hold interest rates steady.
Government & Policy
NZNew Zealand Budget 2026 Projects Return to Operating Surplus by 2028/29
New Zealand's Budget Economic and Fiscal Update 2026 projects an operating surplus by the 2028/29 fiscal year, one year earlier than previously forecast. The improved outlook is driven by increased tax revenue and spending restraint.
RBA & Rates
AURBA Analysis Decodes the Complex Link Between Corporate Margins and Inflation
A study by the Reserve Bank of Australia dissects the relationship between profit margins, business mark-ups, and consumer prices. The findings challenge simplistic narratives about inflation, showing how margin adjustments are driven by complex shifts in costs and demand.
Government & Policy
NZNew Zealand Budget 2026 Delivers $7 Billion Capital Investment Boost for Infrastructure
Finance Minister Nicola Willis has delivered Budget 2026, committing $7 billion in capital funding for key transport, health, and housing projects. The package balances infrastructure catch-up with fiscal prudence amid trimmed growth forecasts.
Consumer Finance
AUYounger Generations Driving Growth in Australian ETF Investment
A major generational shift is underway in Australia as 45% of Gen Z and Millennials actively invest in financial products. Driven by barriers to home ownership, younger investors are fueling record-breaking inflows into exchange-traded funds.
RBNZ & Rates
NZRBNZ Holds Official Cash Rate at 2.25% as Split Vote Signals Imminent Hikes
The Reserve Bank of New Zealand has held the Official Cash Rate at 2.25% after an evenly split committee vote. However, a highly hawkish forward guidance track points to multiple rate hikes starting as early as July.
RBNZ & Rates
NZNZ Mortgage Holders Warned of Rising Costs Despite Stable OCR
New Zealand mortgage holders face rising costs over the next six to 12 months, despite the RBNZ maintaining the OCR at 2.25%. Wholesale interest rates are climbing, prompting a significant shift toward two-year fixed rates as borrowers seek repayment certainty.
Scams & Fraud
AUASIC Warns of AI-Powered Crypto Investment Scams Targeting Young Australians on Messaging Platforms
The Australian Securities and Investments Commission has issued an alert warning consumers about sophisticated, AI-driven crypto-asset investment scams. Operating on popular messaging apps like WhatsApp, these schemes use deepfakes and fake trading data to deceive younger investors.
Banking & Finance
AUWestpac Fined $26 Million for Failures in Handling Financial Hardship Requests
The Federal Court of Australia has ordered Westpac Banking Corporation to pay a $26 million civil penalty. The fine follows systemic failures to respond to over 200 online financial hardship requests between 2017 and 2023.
Housing & Property
AUSydney Property Owners Abandon Renovations as Rising Costs and Interest Rates Bite
Sydney's property market is experiencing a rise in unfinished homes listed for sale as homeowners abandon renovation projects. Driven by escalating material costs, labour shortages, and rising interest rates, many are choosing to sell partially completed projects to cut their losses.
Consumer Finance
AUAustralian Households and Businesses Set for Significant Electricity Bill Reductions
Australian households and small businesses will benefit from lower electricity bills from July 1, 2026, as final regulatory determinations confirm price drops of up to 10.7% for residential standing offers and over 20% for commercial plans.
Business & Markets (ASX)
AUASX 200 Eyes Gains as Goodman Group Q3 Results and Wesfarmers Upgrade Take Centre Stage
The Australian share market is set for a positive open today following strong overnight gains in Europe. Investors are highly focused on Goodman Group's upcoming third-quarter operational update and a key broker upgrade for retail giant Wesfarmers.
Business & Markets (NZX)
NZNZX50 Starts Week Modestly Higher Amid Major Corporate Transactions and Headwinds
The New Zealand Exchange's benchmark NZX50 index gained 0.4% on Monday, driven by positive performances from Auckland Airport, Air New Zealand, and Contact Energy. The lift comes amid broader economic challenges, including elevated inflation and high fuel costs.
Government & Policy
NZNew Zealand Details NZ$1.58 Billion Maritime Security Package Ahead of Budget 2026
New Zealand has announced a pre-Budget 2026 investment of NZ$1.58 billion to boost maritime security. The package funds crucial naval fleet maintenance, long-range drone procurement, and a new technology accelerator program.
Consumer Finance
NZKiwiSaver Early Withdrawals Reach $229.6 Million in April as Hardship Claims Remain Elevated
KiwiSaver early withdrawals reached $229.6 million in April 2026. While first-home buyers made up the bulk of the total value, 4,410 New Zealanders withdrew $38.5 million due to severe financial hardship.
Housing & Property
AUAustralian Federal Budget Introduces Major Tax Reforms to Negative Gearing and CGT
The Australian Government has announced major structural tax reforms to negative gearing and Capital Gains Tax in the Federal Budget. While aimed at supporting first-home buyers, industry experts warn the changes could severely impact the tight rental market.