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LATEST MONEY NEWS

Watch: The Finance Minister modified the wage subsidy scheme to protect workers amid the COVID-19 lockdown.
Coronavirus

Covid-19: Woman says employer applied for wage subsidy after making her redundant

"How can people just manipulate the law and government policy like this?"

30 minutes ago
Watch: Grant Robertson predicts 'quantum economic shock' greater than Global Financial Crisis.
Coronavirus

Poverty groups appeal for end of disconnections, debt collection during pandemic

"This is a time when we all need to support each other."
Lotto balls.
Lotto

One lucky first division winner takes home $1m

Powerball has rolled over and will be worth a cool $10m on Wednesday.

Young family
Coronavirus

The message for existing life insurance policyholders

Leading insurers say that if cover was in place before COVID-19, terms remain the same.

SkyCity says without Government help, hundreds more jobs would have been lost.
Coronavirus

'Maybe more to come': SkyCity makes 200 staff redundant, widespread pay cuts

It's the latest New Zealand business impacted by the COVID-19 crisis.
Watch the Prime Minister's press conference.
Coronavirus

Coronavirus: Ministry of Social Development confirms email process for wage subsidy

'Applications for wage subsidy will now receive acknowledgement via email'
A union is outraged about the proposed pay cuts.
Coronavirus

'Unbelievable': Fletcher proposes 70 pct staff pay cuts as execs keep earning 'megabucks' - union

E tū union members are in shock.
Piggy bank along tightrope
Coronavirus

Coronavirus: Banks take loan applications under Business Finance Guarantee Scheme

A staggering $6.25b of Government-backed loans are open for business.

Bauer Media's Auckland offices.
Updated
Coronavirus

Government 'put a bullet' in Bauer Media, forcing 'tragic' closure - industry expert

Some of New Zealand's biggest magazines will no longer be published.

Money
Finance

Life insurance and COVID-19

Just what are you entitled to?

Eaqub, Sweetman and Shoebridge on The AM Show.
Coronavirus

More Kiwis worried about jobs than COVID-19 itself - survey

There are fears the longer the lockdown goes on, Kiwis' mental health will deteriorate with it.
Watch: Bauer Media, the publisher of many popular Kiwi magazines, has been forced to close.
Coronavirus

The end of Woman's Weekly - Bauer Media announces closure

The COVID-19 pandemic has forced the publisher to shut up shop.

Wall Street
Coronavirus

COVID-19 forecast death toll 'putting a negative tone on the market'

World markets have fallen as the coronavirus threat ensured an ugly start to the second quarter.
Package at door
Coronavirus

Coronavirus: 'Essential' items you didn't know you could get

Retailers offer health, beauty and pet products, and audio sunglasses during lockdown.

Related video: Watch the Finance Minister's presentation to the Epidemic Response Committee.
Economy

Economist's bleak coronavirus warning for New Zealand

Cameron Bagrie says COVID-19 will result in "tectonic changes" to our economy.
Mediaworks' Flower St building.
Business

MediaWorks asks all staff to take pay cuts ahead of 'fight for survival'

CEO Michael Anderson says it's doing everything it can to remain operational.
Vanessa Taylor of Realestate.co.nz was on The AM Show.
Housing

Housing prices: How the market performed pre-lockdown

There was growth in all 16 major centres.
Store checkout
Coronavirus

Coronavirus: Paymark figures show 50 percent increase in spending in days before lockdown

Kiwis stocked up on liquor, hardware, homeware and recreational goods.
One woman says it took her six days of calling to get $200.
Coronavirus

Coronavirus: Kiwis desperate for support spending 'days' on the phone to Work and Income

One woman says it took six days of calling to secure $200.
Empty wallet
Coronavirus

Coronavirus: Banks put up options for customers facing hardship

Kiwibank and ANZ are among the banks providing options to help with mortgages.

Watch: The Prime Minister's full press conference on Monday.
Coronavirus

Retailers welcome broadening of essential goods sold in lockdown

People can now buy whiteware, heaters, blankets and devices during the lockdown through online or phone orders that will be delivered in a contactless way.
Air NZ plane.
Coronavirus

Air New Zealand to start cutting staff after revenue slashed

Air New Zealand says COVID-19 has slashed its revenue by more than $5 billion.

Watch: Jessica Wilson, from Consumer NZ, spoke to The Am Show.
Coronavirus

Law change needed to curb lockdown price-gouging - Consumer NZ

Anyone who suspects their local supermarket is unfairly hiking up prices can dob them in by email.

Reserve Bank Governor Adrian Orr
Coronavirus

Coronavirus: Reserve Bank announces new facility to support corporate funding

Banks will have another channel to fund corporate clients.

Watch the Prime Minister and Finance Minister's full press conference. Video - Newshub, Image - Getty
Coronavirus

'Very very simple': Businesses describe applying for wage subsidy

"One of the businesses received the money within hours."
Cameron Bagrie on The AM Show.
Coronavirus

Massive Govt borrowing will drive up interest rates - economist

The next generation are going to end up paying for this rainy day, says Cameron Bagrie.
Related video: Watch Sunday's COVID-19 press conference.
Coronavirus

Foodstuffs announces lockdown bonus, payments for vulnerable workers

"Some stores might not have got the position around paying their staff right."
Related video: The latest on the coronavirus' spread in New Zealand.
Coronavirus

NZ drops tariffs on medical imports to battle COVID-19

They'll be removed from diagnostic reagents, testing kits and soap first.
Watch: 200,000 Kiwis could be laid off as a result of COVID-19, economist says.
Coronavirus

Lotto draws to continue during COVID-19 lockdown

A computer will draw the winning numbers.
Watch: The latest on the coronavirus' spread in New Zealand.
Coronavirus

Working from home could lead to productivity boost - tech expert

Companies are having to experiment with working remotely amid the COVID-19 lockdown.
House sale documentation.
Coronavirus

Coronavirus: 'Total panic' - Vendor describes having house settlement delayed

Property settlements aren't going ahead under level 4 lockdown.
Wallet with padlock.
Coronavirus

Consumer confidence plummets in March amidst COVID-19 crisis

Even if consumers wanted to spend, their ability is severely curtailed."

Rob Fyfe on The AM Show.
Coronavirus

No international tourism industry until COVID-19 vaccine ready - business leader

A recent highly influential report predicted restrictions could last years, rather than weeks.

There had been widespread confusion over what an "essential service" was.
Coronavirus

Butchers forced to give away, throw out piles of meat after 'essential business' mixed messages

"I don't know if I'm open or closed or closed or open."
Watch: The essential businesses that will stay open during lockdown.
Coronavirus

Petone cigarette factory remains open despite lockdown

MBIE is yet to make a ruling on whether it's allowed.
Watch: Finance Minister Grant Robertson speaks to media. Credits: Video - Newshub, Image - Getty.
Coronavirus

Coronavirus: Six-month mortgage holiday 'a problem delayed rather than a problem solved' - mortgage expert

The loan will be bigger when the holiday ends.
Watch: The essential businesses that will stay open during lockdown.
Coronavirus

'It was in good faith': Warehouse thought it was 'expected to trade' during lockdown

"[It was] our strong belief... that Red Sheds met the criteria of an essential service".
Watch: Director of Civil Defence Emergency Management Sarah Stuart Black speaks on Wednesday.
Coronavirus

'No justification' for price-gouging - Consumer NZ

Newshub has had multiple reports of price spikes in various supermarkets and dairies across the country.
Money
Sponsored

Is the housing market over?

Sponsored: Property Apprentice

Watch: Mental health advocate warns Kiwis not to drink too much during the COVID-19 lockdown.
Coronavirus

PM's warning to supermarkets after accusations of price gouging

"This is not a time to be thinking about profiteering."