Financial Stocks

Binance, Houbi cease operations in China after crypto ban

 Binance, Houbi cease operations in China after crypto ban

Highlights  Binance as well as Houbi have cut back on China operations as Beijing stiffens its suppression of cryptocurrencies. Chinese central bank, the People’s Bank of China, announced on Friday that all crypto transactions would ...

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ANZ increases deposit requirements to 40% for residential property investors

ANZ increases deposit requirements to 40% for residential property investors

Summary ANZ will now need residential property investors to have at least 40% deposit while borrowing and is a step taken to bring back balance to the housing market. Surging property prices and present settings that pivot towards property inve...

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Reverse mortgages can fund ageing in place, cover retirement costs: Heartland

Reverse mortgages can fund ageing in place, cover retirement costs: Heartland

Even as the large majority of the older Australians want to stay in their homes for as long as possible, rising costs and limited superannuation are affecting these changes while providing for a comfortable living. However, the solution to the prob...

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What prompted KiwiSavers’ switch to lower risk funds in March 2020?

What prompted KiwiSavers’ switch to lower risk funds in March 2020?

The latest data from ASB has revealed that about 6% of the KiwiSaver customers of the bank had shifted to lower risk cash and conservative funds in March this year, the time when share markets plunged to record lows due to COVID-19 induced impact. ...

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Deutsche Bank, ANZ, Citi face trials in Australia’s biggest criminal case

Deutsche Bank, ANZ, Citi face trials in Australia’s biggest criminal case

  The three major banks, Australia and New Zealand (ANZ) Banking Group Ltd, Citigroup Inc, Deutsche Bank AG, and six of firms’ former staff were asked to face trial in Australia’s NSW Local Court on Tuesday after pleading not guil...

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Bank of New Zealand cautioned on Responsible Lending failures

Bank of New Zealand cautioned on Responsible Lending failures

Summary In latter part of 2018, fifteen potential breaches of the Credit Contracts and Consumer Finance Act 2003 were reported by the bank. Breaches are connected to a few home, personal and credit card loans, among others amid June 6, 2015 and...

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APRA identifies incorrect liquidity reporting at Westpac Banking Corporation (ASX:WBC)

APRA identifies incorrect liquidity reporting at Westpac Banking Corporation (ASX:WBC)

The Australian Prudential Regulation Authority (APRA) has launched an action against Westpac Banking Corporation (ASX:WBC). The enforcement action is over the material breaches of liquidity standards set by the regulator.  APRA became aware o...

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Westpac NZ (NZX:WBC) inks partnership with Forsyth Barr

Westpac NZ (NZX:WBC) inks partnership with Forsyth Barr

Earlier this month, Westpac NZ struck a strategic wealth management partnership with Forsyth Barr. The bank has sold part of its New Zealand Wealth Advisory business to Forsyth Barr. The parties involved in the partnership would benefit from it.&nb...

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One Investment Management Stock with Decent Outlook

One Investment Management Stock with Decent Outlook

The year 2020 has been a difficult one for the policymakers as well as general public. COVID-19 has been an extraordinary event affecting millions of people across the world, pushing governments to take rigorous actions. These actions include enforci...

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Rebekah Swan Appointed as MD & Head of Clients of AMP Capital’s New Zealand business

Rebekah Swan Appointed as MD & Head of Clients of AMP Capital’s New Zealand business

On 24 November 2020, AMP Capital disclosed the appointment of its new MD & Head of Clients Rebekah Swan for its NZ business. AMP Capital is a part of the AMP Group and is a global investment manager with a large presence in Australia. AMP Limi...

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Heartland Group Holdings (NZX:HGH) re-evaluates the investment valuation in Harmoney

Heartland Group Holdings (NZX:HGH) re-evaluates the investment valuation in Harmoney

On 19 November, Heartland Group Holdings Limited (NZX:HGH) advised that it is reassessing the valuation of its equity investment in Harmoney Corp Limited (ASX:HMY). On 20 November, Heartland Group last traded flat at NZ$1.39. Heartland owns 8,518...

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