NZ shares subdued as China trade tensions weigh; Sky TV falls

New Zealand shares edged lower in subdued trading as fears over the country's trade relations with China unnerved investors. Property For Industry fell after its earnings missed expectations, while Port of Tauranga hit a new record when upgrading its annual earnings guidance.

The S&P/NZX 50 index decreased 0.21 points, or 0.002 percent, to 9,245.44. Within the index, 29 stocks fell, 16 gained, and five were unchanged. Turnover was $89.8 million, with just five companies trading on volumes of more than a million shares.

New Zealand's benchmark index was one of the few to decline across Asia, with most markets buoyed by the progress made in the US-China trade talks ...MORE»

Adviser training institutes positive about education shake-up Monday, February 18th, 6:00AM A shake-up for New Zealand’s vocational training systems could have an impact on the financial advice sector – but it’s expected to be a positive one. MORE»

[The Wrap] It's time for industry leaders to step up and support advisers Friday, February 15th, 2:09PM  9 comments Advisers are, unfairly, bearing the brunt of the fallout from recent reports. It's time industry leaders stepped up and articulated to the public, regulators and politicians the value of good advice. MORE»

AMP profit slashed by Aussie scandals

AMP’s New Zealand profit might have looked a bit grim – but things were much worse on the other side of the Tasman.

The group released its financial results for the year to December 31 on Thursday.

Overall profit for the year was A$28 million ($29.15m), a dramatic drop from the A$848m a year earlier.

That was due to money spent on “advice remediation”, in which it had to repay customers it had charged unjustified fees, and subdued performance in its wealth protection division.

AMP spent A$496m on ...MORE»

AMP puts off listing Thursday, February 14th, 10:30AM AMP is deferring a planned initial public offering (IPO) of its wealth management business until after it has separated off its insurance operations. MORE»

Is FSC taking adviser mantle? Thursday, February 14th, 6:00AM  2 comments Is the Financial Services Council dabbling in a space that should be left to financial adviser associations? MORE»

News Bites

Sovereign rating reaffirmed

Sovereign has had its financial strength rating reaffirmed by AM Best. MORE»

GoodReturns TV

[GRTV] Great advice from the best

In our second show from the Financial Advice NZ conference Good Returns talks with popular keynote speakers Don Connelly and Michael Harrison. MORE»

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Claims hit nib's bottom line

nib New Zealand says the $69 million it paid in claims in the latter six months of last year was a record. MORE»

TMM Online

Mortgage price war heats up with TSB

TSB has hit the market with an aggressive price offer, promising to match any one year home loan rate offered by an "Australian-owned" lender.   MORE»

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Mercer appoints investment boss

Mercer says it has reinforced its commitment to grow its investment consulting capabilities for the benefit of clients with its latest appointment. MORE»

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AFA offers digital KiwiSaver solution

An authorised financial adviser who has been granted an exemption to offer personalised roboadvice says the process was an involved one. MORE»