Latest News
All the latest NZ & Australian financial news
Business & Markets (NZX)
NZMercury Commits up to $1 Billion for Geothermal Energy Expansion
Mercury NZ Limited has announced a phased $1 billion investment plan to expand its geothermal energy platform near Taupō, aiming to power 125,000 additional homes by 2030.
Scams & Fraud
AUMillions of Australians Urged to Change Passwords After Major Super Fund Hack
Regulators have issued urgent warnings to the A$4.2 trillion superannuation sector to bolster cyber resilience following historical breaches and new AI-powered threats. The move follows the 2025 credential stuffing attacks where A$500,000 was stolen from member accounts.
Government & Policy
NZNew Zealand Government Introduces Legislation to Raise Fair Trading Penalties to $5 Million
The New Zealand Government has introduced the Fair Trading Amendment Bill, proposing to raise corporate penalties for misleading pricing to $5 million or three times the commercial gain. The legislation aims to deter deceptive practices and protect consumers from pricing errors that cost tens of millions of dollars annually.
Business & Markets (NZX)
NZAir New Zealand Revises FY26 Outlook Downward Following Surge in Jet Fuel Costs
Air New Zealand has significantly downgraded its FY26 outlook, forecasting a pre-tax loss of $340 million to $390 million due to a $240 million surge in jet fuel costs. The airline is responding with fare increases and capacity cuts while maintaining a strong liquidity position.
Housing & Property
NZNew Zealand Housing Market Softens as Sales Volumes and Prices Retreat in April
New Zealand's housing market slowed significantly in April 2026, with national sales volumes falling 7.9% annually and the median price dropping to $775,000. Rising inventory levels and anticipated interest rate hikes are contributing to a shift in market dynamics.
Economy
AUAustralian Federal Budget 2026-27 Unveils Major Tax and Spending Package
The 2026-27 Australian Federal Budget introduces major reforms to negative gearing and capital gains tax while providing a new $250 tax offset for workers. Treasurer Jim Chalmers aims to address housing affordability and intergenerational equity through a $31.5 billion deficit plan.
RBNZ & Rates
NZRBNZ Survey Shows Significant Rise in Short-Term Inflation Expectations
The Reserve Bank of New Zealand's latest survey shows one-year inflation expectations have surged to 3.41%, the highest in years, signaling a likely OCR hike in July.
Economy
AUAustralian Wage Growth Remains Steady as Annual Rate Moderates to 3.3 Per Cent
The Australian Wage Price Index rose by 0.8% in the March quarter 2026, bringing annual wage growth to 3.3%. This steady growth comes as the Reserve Bank of Australia maintains a high cash rate of 4.35% to combat persistent inflation.
Business & Markets (NZX)
NZPacific Edge Secures NZ$25.4 Million in Upsized Capital Placement
Pacific Edge Limited has successfully raised NZ$25.4 million through an upsized placement to fund its Cxbladder operations and efforts to regain US Medicare coverage. The company will now launch a NZ$6 million retail offer to existing shareholders.
Business & Markets (ASX)
AUCommonwealth Bank reports Q3 2026 cash profit dip to $2.7 billion amid rising technology expenses
Commonwealth Bank reported a $2.7 billion cash profit for the March quarter 2026, a 1% decline from its first-half average as technology investments and loan provisions rose.
Government & Policy
AUAustralian Federal Budget 2026-27 introduces major reforms to negative gearing and capital gains tax
The 2026-27 Federal Budget introduces major changes to negative gearing and capital gains tax, aiming to help 75,000 more Australians own homes while generating $3.6 billion in revenue.
Business & Markets (NZX)
NZJ.P. Morgan Re-establishes Substantial Holding in The a2 Milk Company
J.P. Morgan Chase & Co. has disclosed a 5.14% stake in The a2 Milk Company, re-establishing its status as a substantial holder with 37.27 million shares. The move follows a period of stock price volatility and a recent infant formula recall in the United States.
Business & Markets (ASX)
AUDroneShield Shares Plummet 16% Following ASIC Investigation into Past Disclosures
DroneShield Ltd is assisting ASIC with an investigation into market announcements and director share trading from November 2025, leading to a 16% share price drop.
RBA & Rates
bothAustralian Dollar Weakens as Global Markets Diverge Amid Geopolitical Tensions
The Australian dollar has weakened to 0.72415 as Middle East tensions drive oil prices above $100 per barrel. Domestically, the RBA has raised interest rates to 4.35% while consumer confidence has plummeted to near 50-year lows.
Consumer Finance
AUAustralian Consumer Confidence Falls to 64.1 Following RBA Rate Hike
Australian consumer confidence has plunged to 64.1 points, marking its fourth-lowest level since 1973. The 3.1-point drop follows the Reserve Bank of Australia's decision to raise the cash rate to 4.35%.
Government & Policy
NZFourth Petroleum Exploration Permit Application Enters Competitive Process in New Zealand
Resources Minister Shane Jones has announced that a fourth petroleum exploration permit application, covering onshore and offshore Waikato, has entered the competitive process. The application by a three-company joint venture follows the 2025 lifting of the exploration ban.
RBNZ & Rates
NZFinancial Markets Anticipate RBNZ Rate Hikes Amid Divergent Economic Forecasts
New Zealand financial markets are pricing in several 25 basis point OCR hikes as inflation remains at 3.10%, despite a significant divide among major bank economists regarding the timing of future increases.
Business & Markets (ASX)
AUMetcash upgrades profit guidance following strong second half performance
Metcash Ltd has upgraded its FY26 underlying NPAT forecast to between $268 million and $270 million, leading to a 10% share price surge. The upgrade follows strong performance in Food, Liquor, and Hardware divisions alongside effective cost-saving measures.
Scams & Fraud
AUCustomer Owned Banking Association Issues Warning Over Fuel Crisis Phishing Scams
The Customer Owned Banking Association has warned Australians of sophisticated phishing scams exploiting the fuel crisis to steal credit card information.
Housing & Property
NZNew Zealand housing market faces renewed price pressure as sentiment weakens
New Zealand house prices are forecast to fall by 2% in 2026 as consumer confidence reaches a three-year low. Despite a marginal monthly rise in April, high inflation expectations and a retreat by property investors continue to weigh on the market.