SBS Bank already required a 20% deposit on its home mortgage lending and was unlikely to be affected by new measures outlined yesterday by the Reserve Bank, chief executive Ross Smith said.
Buying a first home looks likely become much harder as the Reserve Bank steps up its warning the current overheated property market is a threat to future financial stability.
A strong South Island rural sector helped retailer Smiths City report a 22.7% increase in profit to $5.4 million for the year ended April 30.
The Dunedin economy has been dealt another blow with the announcement yesterday 73 jobs will go when New Zealand Post closes its Dunedin mail centre next year.
Workers at the Dunedin mail centre are devastated their jobs will go in a major restructure of New Zealand Post, union representative Mike Kirwood says.
An extension to Canterbury earthquake relief through tax measures has been welcomed as recognising the rebuild is taking longer to start than expected, Deloitte Dunedin tax partner Peter Truman says.
New Zealand Post's Rural Delivery service emerged unscathed from the latest restructuring of the postal company.
The music of the late Glenn Miller continues to entertain and enthral, as evidenced last night by the audience which packed out Dunedin's Regent Theatre.
Shanghai and Tokyo will be key long-haul destinations for Air New Zealand's new 787-9 aircraft, which the national carrier says will be a game-changer.
Queenstown Airport is feeling the benefits of having Auckland International Airport as a stakeholder as passenger movements through the airport continued to increase, Craigs Investment Partners broker Chris Timms says.
The Canterbury rebuild and an improving New Zealand labour market are prompting fewer people to leave for Australia, Statistics New Zealand figures out yesterday show.
Further turmoil is expected in financial markets this week but BNZ senior economist Craig Ebert says the turmoil is just a healthy correction which is helping make the case for higher interest rates.
The Dunedin City Council is being urged to take a common-sense approach as it starts this week on a consultation process for the city's energy plan.
New Zealand's unemployment rate is forecast to push back up to around 7% within the next six months as job advertisements carried in newspapers and online sites fall.
The ANZ Job Ads series, which combines newspaper and online job advertisements, fell 1.7% in May, more than undoing the gains of the past two months.
Financial markets have overreacted to recent talk by the United Federal Reserve of tapering its money-printing programme and sharemarkets and currencies have all suffered from investor uncertainty.
United States Federal Reserve chairman Ben Bernanke has indicated the central bank is likely to slow its bond-buying programme later this year and end it next year because the economy is strengthening.
Coliseum Sports Media and Television New Zealand will be partners in a step back in time from August 1, when a ''match of the week'' football game will be shown each Sunday, from noon to 2pm.
The annual current account deficit has edged lower, largely because of a stronger goods surplus and a smaller services deficit.
Sky Network TV shareholders were struggling yesterday to understand how the news the company had lost the rights to broadcast the English Premier League would affect their investments.
Companies or regulatory authorities whose faulty processes resulted in death or catastrophic failure should be called to account, Labour Party justice spokesman Andrew Little said in Dunedin yesterday.
