The Commerce Commission intends to approve Transpower’s application to spend $1.13b replacing submarine electricity cables linking the North and South Islands.

The regulator published a draft decision proposing to approve

The New Zealand Banking Association says ANZ NZ chief executive Antonia Watson has been elected as its new chair, taking up the role today.

Westpac NZ chief executive Catherine McGrath has been elected as deputy chair.

Open banking will be extended to business banking channels from June 2027, Commerce and Consumer Affairs Minister Scott Simpson says.

From that date, most major banks would extend regulated open banking via channels, such as mobile apps and websites, that businesses used for banking, he said in a statement.

Businesses are trying to figure out how to price future work, including having hard conversations with customers about raising prices. 

All of this is happening before a major potential supply gap hits New Zealand in late