Standard and Poor's has cut the credit rating of the Suncorp’s Group’s life insurance business amidst market speculation that the business will be sold.
New Zealand | February 17th, 2017 | Continue reading »
Technology innovation, the New Payments Platform and regulatory change will loosen the grip of the big four on the payments industry, says expert.
New Zealand | February 15th, 2017 | Continue reading »
The RBNZ has left the cash rate at 1.75 per cent, with the Kiwi central bank implying the OCR across the ditch could be treading water until mid-2019.
New Zealand | February 10th, 2017 | Continue reading »
The seeding this week of New Zealand's first fintech lobby group may ultimately lead to a greater Asia-Pacific fintech federation, according to NZTech chair.
New Zealand | February 8th, 2017 | Continue reading »
An annual rise in bond issues shows greater confidence in non-bank debt financing yet when it comes to the non-financial corporate bond market, the Kiwis are beating us hands down.
New Zealand | January 20th, 2017 | Continue reading »
Americans choke on $1 coin stockpile
The UK newspaper The Telegraph reported recently that a mountain of 1.2 billion dollar coins is sitting unused in US government vaults because the American public is so attached to the traditional dollar bill. The US Mint has been producing vast numbers of the gold-coloured coins after being ordered to do so by Congress in 2005.
American taxpayers could save $500 million (A$524m) a year if they switched from paper dollars, which wear out quickly and must be replaced, to the more durable metal version, according to the US government accountability office.
Yet demand from banks for the coins has been so low that US$1.2 billion worth – which cost US$300 million to manufacture – are sitting in storage, an investigation by National Public Radio found.
According to The Telegraph, opinion polls show that three-quarters of the American public say they would prefer to carry on using the paper dollar bill, affectionately known as the “greenback”, which celebrates its 150th birthday next year.
Comment: AB+F Blog
Two early for reform celebration: The one-year anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act passing into law rolled quietly by last month... [more]
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