But she also noted that New Zealand banks have less exposure to commercial real estate compared to their US counterparts, thanks to a robust residential lending market. “I don’t think in general that New Zealand banks have anything like the exposure to commercial real estate that some of the banks in the US have,” said Matthews. “Because of the very strong residential market and the very strong residential lending portion that New Zealand banks have, commercial isn’t as big a deal.”Matthews went on to note that the profitability of New Zealand banks has acted as a buffer against potential sector-specific shocks. “That’s partly why it’s important for them to be profitable, so if there is a sector that goes a bit haywire, they have the ability to cope with that,” she said. American banks stand to lose US$160 billion from the impact of elevated interest rates on commercial real estate and other asset classes, according to a study by the United States National Bureau of Economic Research.

Sharon Zollner, chief economist at ANZ New Zealand, says the Reserve Bank (RBNZ) may lift the Official Cash Rate (OCR) to 6% at its next meetings in February and April. Strong net migration, recovering commodity prices, and a decline in wholesale interest rates were also reasons the central bank might want to lift interest rates further. That November update signalled the RBNZ’s Monetary Policy Committee would likely hike interest rates again if there was any delay to inflation being back in the target band. Kelly Eckhold, chief economist at Westpac NZ, said he thought market predictions of another rate hike were "overdone". Zollner acknowledged she had “flip-flopped” on her previous forecast and that restarting interest rate hikes would be distressing for many households and businesses.

An abusive relationship has ended after a man who was "not getting the message" assaulted his partner a second time, a court has heard. The court heard that last year the defendant was convicted of two charges of assault with intent to injure, assault in a family relationship and assault which related to the same victim. He advocated for a short sentence of home detention as the defendant had spent three months in custody. On October 30 Tumaita and the victim were at a Mataura address, where he stood over the victim and verbally abused her. He sentenced the defendant to four months’ home detention with six months’ post-detention conditions.

Morgan announced that he would make the show YouTube-only, in a move that will raise questions about the future of Rupert Murdoch’s TalkTV. He said that the decision was his own, although Murdoch is said to have been equally displeased with Morgan’s ratings. ‘I just want to go full digital’“I’ve just decided that I no longer want to create my show for linear television. “People are watching the content on YouTube rather than conventional television and I have no problem with that.”The Piers Morgan Uncensored channel on YouTube has 2.35 million subscribers. The YouTube move would allow Morgan to do more expansive interviews and not be constrained by an hour-long running time, he said.

Covid-19 Inquiry updateWe are happy to announce that the terms of reference on the Royal Commission of Inquiry into the Covid-19 response have been expanded. This includes what we committed to in our coalition agreement, to:Ensure, as a matter of urgency in establishment and completion, a full scale,

Setting the stage for a broadband breakup this Valentine’s Day, Electric Kiwi has launched an integrated print and digital audio campaign across NZME’s NZ Herald, Weekend Herald and nationwide radio network. The campaign, created with the help of Lassoo Media & PR, empowers customers to take a stand against unethical notice periods and additional fees this Valentine’s Day with a ‘Dear John’ inspired breakup letter. Off the back of a recent complaint lodged with the Commerce Commission, Electric Kiwi declares it’s time for consumers to take charge and leave providers that are engaging in anti-competitive win-back strategies including what Electric Kiwi calls the “sneaky notice periods” used by some of New Zealand’s major broadband retailers. “In typical Electric Kiwi fashion, we’re championing our customers by highlighting the detrimental impacts of broadband notice periods on the industry and the massive pain that they are for consumers”, says Electric Kiwi CEO, Luke Blincoe. We’re encouraging consumers to part ways with their broadband providers who are using dirty tactics to lower competition, and it seems only fitting that we aligned this campaign with Valentine’s Day.

READ MORE: From wineries to the beach: Italy's best road tripsPlane cabins are feeling increasingly cramped. And increasingly cramped because, as you may have noticed, over the last century passengers have on average increased in length and mass. Obviously, there's an impact on your in-flight experience – everything from eating, to awkwardly getting up to go to the loo, to grabbing that all-important plane nap. Although some long-time flyers said in travel forums of the new (old) offering: "...expanded to 35 inches – Air NZ used to have 34 inches in the entire economy cabin!" Sounds like there's fat chance of getting airlines to allow for growing passengers without paying for the privilege.

I love this…David Seymour says he doesn’t ‘believe’ comment from Christopher Luxon on Treaty Principles BillACT leader David Seymour is refusing to back down on his controversial Treaty Principles Bill, saying he believes the Prime Minister’s opinion can be changed. Seymour believes Prime Minister Christopher Luxon was “nervous” after Waitangi and could still back his Treaty Principles Bill despite ruling out doing so. Verity Johnson’s column this week is merciless on this point…TDB Recommends NewzEngine.comHow is Christopher Luxon a bridesmaid in his own government? Here’s how David gets his Treaty Principles amputation through. David dumps the referendum element of his Bill making it a different Bill that Luxon can hand on heart claim isn’t the same Bill.

Laneway 2024: Dope Lemon gushes about RotoruaThe Herald caught up with the Dope Lemon leading man backstage, who seemed to be absolutely taken by Kiwi land. So much so, he opted to spend his summer here soaking up the rays and performing a string of shows across New Zealand. Video / Carson Bluck

Although the termination of the Clean Car Discount did not create as pronounced an impact as its inception, with over 29,000 gas-guzzling vehicles purchased in the month preceding the enforcement of fees in April 2022, its influence on consumer behaviour and fleet emissions was substantial throughout its short-lived existence. Transport Minister Simeon Brown defended the government’s decision, citing the Clean Car Discount’s unaffordability when it provided $339 million more in discounts than fees collected. Brown emphasized that the cost of new EVs had decreased, highlighting the government’s plan to invest $257 million in constructing 10,000 EV chargers. Officials acknowledged the Clean Car Discount’s role in accelerating the shift towards low-emission vehicles, while also recognizing other contributing factors, such as rising petrol prices, the influx of affordable Chinese EV brands, and heightened awareness of climate change. Despite its cancellation, the Clean Car Standard remains in place, urging car importers to balance high-emission vehicles with lower-emitting ones or face penalties.

A Dunedin man fuelled by jealousy and malice brandished a knife at his ex-partner while his three young children were in the house. After interrogating the woman about her dating habits, the defendant became increasingly jealous, the Dunedin District Court heard last week. He took the victim’s phone, keys and bank card before grabbing her by the collar and violently dragging her outside. He ordered her to get out of the house and threatened to slash her tyres. Walker told police he took the victim’s property "to be malicious", the court heard.

John Le BrunFairfieldHard to prove real-nessCongratulations to Jim Sullivan and Lois Galer (ODT 6.2.24) on your success in the RealMe battle. My first RealMe goes back in 2013 when I had to convince the government that I was my husband’s widow. Alan RoddickWaverleyMy sympathies lie with Lois Galer and her struggles with RealMe. As Jim Sullivan said "The RealMe website was (is) a nightmare for those lacking a degree in information technology". Carolyn RichardsonDunedinAddress Letters to the Editor to: Otago Daily Times, PO Box 517, 52-56 Lower Stuart St, Dunedin.

There were 4719 incidents of retail crime reported across Foodstuffs stores in the last quarter of 2023. Stock photo: Getty ImagesShopkeepers across the country are itching to use facial recognition technology and are keeping a close eye on a supermarket trial of the system starting today, Retail NZ says. Retail NZ Chief Executive Carolyn Young said the sector was watching the trial with keen interest. Foodstuffs North Island's general counsel Julian Benefield said the company had consulted with the Privacy Commissioner and made some changes accordingly. Webster said his office had the power to issue a compliance notice to an organisation directing it to stop using technology in some instances.

Written By: notices and features - Date published: 5:30 pm, February 8th, 2024 - 22 commentsCategories: Daily review - Tags:Daily review is also your post. This provides Standardistas the opportunity to review events of the day. The usual rules of good behaviour apply (see the Policy). Don’t forget to be kind to each other …Share this: FacebookLinkedInRedditPinterestMastodonTwitterPrintEmail

IQNA – Two mosques in Christchurch, New Zealand received a phone threat on Wednesday, prompting armed police to respond. Canterbury Police posted publicly on social media that the threat was made about specific premises. Police said they have visited the two mosques and, “at this time, not found anything of concern”. The Herald reported that the properties are the Al Noor Mosque and the old Linwood mosque, the sites of the Christchurch terror attack which saw 51 murdered in March 2019. In December, a seven week coronial inquest into the 2019 attack concluded after hearing from dozens of witnesses.