18h ago
ANZ raises mortgage and term deposit rates, citing “global uncertainty”
ANZ, New Zealand’s largest bank, raised a range of retail interest rates, lifting its six-month term deposit rate to 3.55% and increasing its 18-month and two-year rates by 30 basis points to 4.2% and 4.3%. The bank also increased fixed mortgage rates by 10 to 26 basis points across terms from six months to three years. ANZ attributed the move to “global uncertainty,” pointing to persistently tight local monetary policy.
18h ago
19h ago
BurgerBurger enters liquidation with $2.75m net liabilities as buyer search continues
BurgerBurger Limited has entered liquidation with total assets of $2.98 million and total liabilities of $5.74m. Several items in its asset schedule are misstated or no longer valid, including a historic York Street Mechanics investment that no longer exists and Alo Hospitality shares that were realised before administrators were appointed. About $241,000 held in the company’s lawyers’ trust account at the date administrators were appointed was recovered during the administration. The case concerns a private hospitality business and does not involve publicly traded traditional financial assets.
19h ago
7-15
US Commerce Department preliminarily sets 105% anti-dumping duty on Korea Aluminium exports
The US Commerce Department issued a preliminary finding that would impose a 105% anti-dumping duty on Korea Aluminium’s exports, nearly four times the current rate. The decision stems from an ongoing trade investigation and has not taken effect as a final ruling. A Trump-owned company previously received a US$3.4 million payment from a South Korea-linked party, though the article says there is no evidence Trump or his family intervened in the probe.
7-15
7-8
Global dairy prices slide 4.9% in biggest drop in two years as milk supply surges
Global dairy prices fell 4.9% over the week, marking the biggest decline in two years, as output in major milk-producing regions rose sharply year on year, excluding China. Prices broadly weakened across whole milk powder (WMP), skim milk powder (SMP), anhydrous milk fat, butter and cheddar, with cheddar down more than 12.3%. Buttermilk powder and mozzarella posted modest gains, but the overall picture pointed to clear oversupply pressure. The move is set to feed directly into dairy commodity pricing as a tradable spot supply-demand shock.
7-8