The latest Business News: breaking personal finance, company, financial and economic news, plus insight and analysis into UK and global markets.

New Zealand’s delayed vaccine rollout threatens early Covid success

New Zealand’s “go hard, go early” strategy to combat Covid-19 attracted global praise and eliminated local transmission of the virus. But the country’s slow rollout of vaccines is putting people at unnecessary risk and threatens to delay its economic recovery, critics warned. Wellington plans to start vaccinating frontline workers in April and the general public from July under a cautious […]

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Fintechs' bids for Indonesian banks will raise competition: Fitch

Recent moves by tech firms to acquire small Indonesian banks will add more colour to Asean’s financing landscape, but are unlikely to pose a material challenge to the biggest incumbent lenders in the near term, said Fitch Ratings. This comes as the tech firms are first likely to target underserved or niche segments of the market which traditional banks tend […]

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Apartments or supermarket: $40m Herne Bay Countdown project sparks debate

Property investor Ben Cook’s construction of a $40 million supermarket in New Zealand’s richest suburb has sparked strong debate, with critics saying they would far prefer apartments there instead. Yesterday, the Cook Property chief said work had begun demolishing The Gables pub on the Herne Bay site where a 1800sq/m metro-sized Countdown will be built. “Urgh, this was consented for […]

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Broker goes back to the drawing board after Rio Tinto keeps Tiwai open

Rio Tinto’s decision to extend the life of the Tiwai Point aluminium smelter to at least the end of 2024 is seen as a significant positive for New Zealand’s power generators, but some are expected to benefit more than others. The Anglo-Australian metals and mining giant last week said it had reached a deal with NZ Aluminium Smelters’ (NZAS) biggest […]

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Struggling Local Governments May Get Help From the Private Sector

As their fiscal woes become worse, some government officials are looking more closely at public-private partnerships as a way to jump-start their economies. By Miranda S. Spivack For state and local governments, the pandemic has brought financial gloom: Tax collections are down, public health expenses are up, and their infrastructure backlog is growing. Hope for swift relief from Congress was […]

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Biden picks Chopra, Gensler for financial oversight roles

WASHINGTON (AP) — President-elect Joe Biden has chosen Rohit Chopra to be the director of the Consumer Financial Protection Bureau, tapping a progressive ally of Sen. Elizabeth Warren to helm the agency whose creation she championed. Chopra, now a commissioner at the Federal Trade Commission, helped launch the consumer agency after the 2008-09 financial crisis and served as deputy director, […]

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Asia shares look to China for recovery lead, earnings in focus

SYDNEY (Reuters) – Asian share markets edged ahead on Tuesday as investors wagered China’s economic strength would help underpin growth in the region, even as pandemic lockdowns threatened to lengthen the road to recovery in the West.FILE PHOTO: Investors sit in front of a board showing stock information at a brokerage house on the first day of trade in China […]

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China’s College Graduates Can’t Find Jobs. The Solution: Grad School.

Graduation was fast approaching, but Yang Xiaomin, a 21-year-old college student in northeastern China, skipped her university’s job fair. Nor did she look for positions on her own. She didn’t think she had a chance of landing one. “Some jobs won’t even take résumés from people with bachelor’s degrees,” said Ms. Yang, who, along with a record 3.77 million of her […]

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