The advisory states that the promotion process has coincided with a spike in Covid-19 cases across the country along with localised lockdowns. The finance ministry has asked public sector banks (PSBs) to postpone the annual exercise of promoting and transferring their staff in the wake of the Covid-19 pandemic. The advisory issued by the Department of Financial Services (DFS) states […]

This Tuesday is one of the biggest freebie days of the year – and the goodies are not only for teachers. May 4 is Teacher Appreciation Day, also called National Teachers Day, and coincidently McDonald’s and Taco Bell are also offering up free food to teachers and non-teachers alike. McDonald’s offers its new Caramel Brownie McFlurry for free through its mobile […]

ASB is repaying $8.1 million to customers after admitting lending failures in a settlement with New Zealand’s consumer watchdog. The bank reached the deal with the Commerce Commission, following an investigation, accepting it failed to ensure its systems and processes were sufficient so required information was disclosed to more than 73,000 home and personal loan customers. According to the settlement, […]

A round of new Chinese government food safety audits which have spooked New Zealand’s economic lifeblood primary export sectors have been completed on apple exporters with formal findings expected within a few weeks. The video, or live, audits on processing operations approved to export food to China have already resulted in some seafood exports being halted by Chinese officials. The […]

It's a ride-hailing head-to-head. Lyft and Uber are set to report first-quarter earnings this Tuesday and Wednesday, respectively. Lyft's stock is beating Uber's by almost double year to date, up 16% versus Uber's 7.5% gain. However, Uber looked like the better bet to two technical analysts, they told CNBC's "Trading Nation" on Monday. Though she wasn't keen to add exposure […]

Bank of America’s Cathy Bessant highlighted the importance of 5G mobile broadband and 3D printing. Fellow BofA tech exec David Reilly also spoke to the importance of 5G for edge cloud computing. The comments were made at a Bank of America summit on digital banking on Monday. See more stories on Insider’s business page. Much of the focus across Wall […]

Mike Pero is aiming to get his airline flying between New Zealand and the Cook Islands later this year. The Christchurch businessman delayed a start for the airline, Pasifika Air, after quarantine-free travel was put on hold but the plan is back on track now that the travel bubble with the Cook Islands is due to start on May 17. […]

In a Monday speech, Jerome Powell discussed data on inequities from an upcoming Federal Reserve survey. Black and Hispanic workers disproportionately suffered in the pandemic, especially mothers, he said. A K-shaped recovery has taken shape, with higher-earning workers seeing job and income growth. See more stories on Insider’s business page. Low-wage workers and workers of color have seen a slower […]