Business

SBS Bank has struck a technology partnership that will make it the first New Zealand bank to use a core banking platform powering millions of customers worldwide. The Invercargill-based bank announced a long-term deal with Engine by Starling, the cloud-native platform developed by UK digital bank Starling Bank. The technology

TSB is selling itself to Heartland Bank for $620 million in a deal that would create New Zealand's largest regional bank. The conditional agreement would see Heartland Group buy all of TSB's shares from the Toi Foundation to create TSB Heartland Bank. The combined bank would

New Zealand will return to budget surplus a year earlier than expected, with Finance Minister Nicola Willis delivering a disciplined Budget 2026 focused on getting the books back in order. Treasury now forecasts a $2.6 billion surplus in 2028-29 under the government's preferred measure, compared to a

Fonterra has lifted its profit forecast and narrowed next season's milk price range as strong demand offset global shipping disruption. The dairy co-operative posted year-to-date operating profit of $1.8 billion, up $103 million on last year. Underlying earnings per share rose to 57 cents from 53 cents.

Charities and not-for-profits can earn $10,000 tax-free instead of $1,000 under new Government rules. Revenue Minister Simon Watts and Community and Voluntary Sector Minister Louise Upston announced the changes after Inland Revenue's review found existing tax rules lacked clarity and could undermine credibility. "Last year,

Rio Tinto will restart a mothballed production line at Tiwai Point aluminium smelter, backed by a new wind farm deal with Contact Energy. The companies signed a letter of intent for a power purchase agreement to support restarting Line 4, which has been idle since 2020. The arrangement would see

New World is dumping its Clubcard for a new rewards scheme that works across three supermarket chains. Club+ launches June 15, combining New World, PAK'nSAVE and Four Square into a single customer platform for the first time. The move reflects how most people already shop — bouncing between different

South Port has a new chief executive. Derek Nind will take over as CEO on July 27, replacing Nigel Gear who steps down at the end of May after 8.5 years leading the Bluff port company. Nind brings deep port experience to the role. He previously served as chief