Latest News
All the latest NZ & Australian financial news
Housing & Property
NZNew Zealand National Median Rent Rises for First Time in 2026
New Zealand's national median weekly rent rose to $625 in April 2026, marking the first monthly increase since late 2025. While major centres like Auckland and Wellington saw declines, a 5% drop in available properties and an 8% surge in demand are pushing regional rents higher.
Banking & Finance
AUAustralianSuper Appoints First Head of AI and Automation to Drive Digital Transformation
AustralianSuper has appointed Sarah Carney as its first Head of AI and Automation as the fund targets a 5% productivity boost and launches new digital advice tools for its 3.6 million members.
Business & Markets (NZX)
NZNapier Port to Commence On-Market Share Buyback Programme Following Revenue Growth
Napier Port Holdings Limited has approved an on-market share buyback of approximately 312,000 shares to support employee ownership plans. The move follows strong half-year results, with revenue rising to $84.9 million.
Business & Markets (NZX)
NZAir New Zealand Announces Major International Route Expansion from Christchurch
Air New Zealand is set to launch three new non-stop international routes from Christchurch to Singapore, Tokyo, and Perth starting in late 2026, supported by the return of its Boeing 787 fleet.
RBNZ & Rates
NZRBNZ Faces Scrutiny as Markets Focus on Persistent Inflation Data
The Reserve Bank of New Zealand faces renewed scrutiny as Q1 2026 inflation data shows annual price growth holding at 3.10%, exceeding the bank's target band.
Business & Markets (ASX)
AUASX 200 Rebounds as Geopolitical Tensions Ease and Consumer Sentiment Improves
The S&P/ASX 200 index rose nearly one percent on Tuesday, recovering from a seven-week low following the de-escalation of geopolitical tensions. Strong performances from Woolworths and Tuas, combined with a slight rise in consumer sentiment, supported the market's much-needed bounce.
Business & Markets (NZX)
NZNZX50 Index Rebounds on Strength from Key Tech and Healthcare Stocks
The NZX50 index climbed 1.2% on Tuesday, recovering from recent losses. Significant gains in Gentrack and Fisher & Paykel Healthcare helped offset broader market declines seen earlier in the week.
Economy
NZNew Zealand Retail Spending Contracts as Electronic Card Transactions Fall 1.3 Percent
New Zealand retail spending via electronic cards dropped 1.3 percent in April 2026, as consumers cut back on consumables, hospitality, and fuel. The total value of electronic card transactions across all industries fell by $160 million.
Banking & Finance
AUAustralian Superannuation Funds Recover in April as Global Share Markets Rally
Australian median growth superannuation funds rebounded with a 2.6% return in April 2026, driven by a surge in global technology shares and a Middle East ceasefire. The recovery largely offsets a 3.2% decline in March, leaving the sector on track for a 6.4% return for the 2026 financial year.
Banking & Finance
AUWestpac Confirms 193 Job Cuts Across Various Departments
Westpac has confirmed the cutting of 193 roles across technology, HR, and retail divisions on May 19, 2026. This follows earlier reports of larger restructuring plans and ongoing digital transformation efforts within the bank.
Government & Policy
NZNew Zealand Government Announces Major Public Service Overhaul to Achieve $2.4 Billion in Savings
New Zealand Finance Minister Nicola Willis has announced a major public service overhaul targeting 8,700 job cuts and $2.4 billion in savings to fund priority areas like health and education.
Banking & Finance
NZBNZ Buyback Debate Reignites Calls for Major New Zealand Banking Reform
A proposal to buy back the Bank of New Zealand from National Australia Bank has reignited calls for structural reform in a sector where four banks control up to 85% of the market.
Business & Markets (ASX)
AUTechnology One Achieves 17th Consecutive Record Half-Year Profit as SaaS+ Adoption Grows
Technology One has delivered its 17th consecutive record first-half profit of $89.1 million, driven by a 17% surge in annual recurring revenue and strong SaaS+ adoption.
Economy
NZMiddle East Conflict Impacts New Zealand Fuel Prices and Economic Outlook
New Zealand officials are monitoring fuel supplies as petrol prices rise 33.6% and diesel 94.9% following conflict in the Middle East. Global oil prices hit US$102.40 per barrel as supply chain risks grow.
Economy
AUAustralian Consumer Confidence Recovers Slightly, Remains Historically Low
Australian consumer confidence rose by 2.3 points to 66.4 for the week ending May 18, 2026. Despite the modest recovery, the index remains near historical lows, with only 13% of households considering it a good time to buy major items.
Banking & Finance
NZCommerce Commission Identifies Weak Competitive Pressure in Financial and Insurance Services
The inaugural State of Competition report identifies financial and insurance services as industries with the weakest competitive pressure, highlighting a 916% rise in insurance premiums since 2000.
Economy
NZNew Zealand Population Growth Accelerates to 0.8% as Citizen Exodus Slows
New Zealand's population grew by 0.8% in the year to March 2026, reaching 5,361,300. The increase was driven by a net migration gain of 24,300 and a significant slowdown in the departure of New Zealand citizens.
Business & Markets (ASX)
AUASX 200 Wipes Out A$30 Billion in Value Amid Global Bond Sell-Off and Rising Oil
The Australian share market experienced a significant downturn on Monday, with the ASX 200 losing over A$30 billion in value. Rising oil prices and a global bond sell-off have intensified concerns over persistent inflation and high interest rates.
Scams & Fraud
AUAUSTRAC Warns of Surge in AI-Enabled Financial Fraud as Lenders Bolster Defences
AUSTRAC has issued a major warning regarding a 45% surge in AI-assisted illicit flows, prompting lenders to implement automated fraud detection. New AML/CTF regulations are set to take effect on July 1, 2026, to combat increasingly sophisticated financial crime.
Business & Markets (NZX)
bothGentrack Group Finalises NZ$24 Million Acquisition of Energy SaaS Provider Factor
Gentrack Group Limited has acquired New Zealand SaaS provider Factor for NZ$24 million to integrate machine learning-driven energy pricing into its global platform. The deal, funded by cash reserves, is expected to be EPS accretive by FY28.