AGP Executive Report
Last update: 10 hours agoJobs and Markets: New Zealand’s unemployment rate climbed to 5.7%, its highest in 11 years. The weak jobs report helped lift the NZX 50 as traders pared back expectations of a December rate hike. Banking: BNZ’s full-year profit fell to about $1.2 billion despite lending growth. Revolut has launched as New Zealand’s first fully digital-only bank, offering an introductory 3.5% savings rate. Retail: David Jones has entered voluntary administration after rent talks collapsed. Its stores will keep trading while receivers review the business; the chain has one store in Auckland. Trade: New Zealand, South Korea and Singapore have reviewed progress on a green trade pact aimed at helping businesses respond to climate-related trade measures and expand sustainable industry links. Regional Connections: The Government has approved a $475,000 loan for Air Napier to fund fleet upgrades and refinance debt, supporting regional air links.
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