ASB is facing a fine of around $6 million for breaching anti-money laundering rules. 

Banks are required to do their due diligence with their money, in order to comply with existing legislation - but ASB hasn't followed the right systems. 

NZ Herald Wellington business editor Jenee Tibshraeny explained further.

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ASB is facing a fine of around $6 million for breaching anti-money laundering rules.&nbsp;
Banks are required to do their due diligence with their money, in order to comply with existing legislation - but ASB hasn't followed the right systems.&nbsp;
NZ Herald Wellington business editor Jenee Tibshraeny explained further.
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Jenee Tibshraeny: NZ Herald Wellington business editor on ASB facing a $6 million dollar fine for breaching anti-money laundering rules

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/b17d60b5-18a6-4d98-a1a3-b41f0075944a/transcript

After multiple delays, Kathmandu’s parent KMD Brands filed its half-year results, revealing details of a discounted capital raise and news that chairman David Kirk is stepping down.

The company, which owns outdoor brands Kathmandu, Rip Curl and Oboz, reported a net loss of $13.1 million, sparking concerns among investors. 

Milford Asset Management expert Jeremy Hutton explained further.

LISTEN ABOVE

After multiple delays, Kathmandu’s parent KMD Brands filed its half-year results, revealing details of a discounted capital raise and news that chairman David Kirk is stepping down.
The company, which owns outdoor brands Kathmandu, Rip Curl and Oboz, reported a net loss of $13.1 million, sparking concerns among investors.&nbsp;
Milford Asset Management expert Jeremy Hutton explained further.
LISTEN ABOVE

Jeremy Hutton: Milford Asset Management expert on KMD Brands announcing an equity raise drive following multimillion-dollar loss

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/8306734a-02e9-4eaa-87aa-b41f00730ec2/transcript

Allbirds, the eco-chic footwear brand co-founded by former All White Tim Brown, has agreed to sell its 'intellectual property and certain other assets' to American Exchange Group.

The brand will be sold for an estimated value of $68 million NZD - a fraction of the company's original net worth.

NZ Herald senior business writer Chris Keall says the company's been in decline for years - with too many key factors going wrong. 

"The overarching thing is that it's never been able to make a profit, but it's making sustainable shoes from New Zealand merino wool and recycled materials - but not at a sustainable price."

LISTEN ABOVE

Allbirds, the eco-chic footwear brand co-founded by former All White Tim Brown, has agreed to sell its 'intellectual property and certain other assets' to American Exchange Group.
The brand will be sold for an estimated value of $68 million NZD - a fraction of the company's original net worth.
NZ Herald senior business writer Chris Keall says the company's been in decline for years - with too many key factors going wrong.&nbsp;
"The overarching thing is that it's never been able to make a profit, but it's making sustainable shoes from New Zealand merino wool and recycled materials - but not at a sustainable price."
LISTEN ABOVE

Chris Keall: NZ Herald senior business writer on the rise and fall of Allbirds

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/3209feba-5e28-491a-8c9c-b41f006faae6/transcript

Labour MP Kieran McAnulty says his member's bill to loosen liquor regulations on key public holidays will clear up confusion.

It would allow hospitality venues to sell alcohol on Good Friday, Easter Sunday, Anzac Day morning and Christmas Day - without needing to serve a meal.

The bill could be in place by this Easter weekend, with its final reading underway in Parliament.

McAnulty says venues currently have to operate under different rules than the rest of the year, which doesn't make any sense.

"All I'm proposing is that on these days, the businesses that are already operating and the workers that are already working anyway can just do so under normal conditions." 

LISTEN ABOVE

Labour MP Kieran McAnulty says his member's bill to loosen liquor regulations on key public holidays will clear up confusion.
It would allow hospitality venues to sell alcohol on Good Friday, Easter Sunday, Anzac Day morning and Christmas Day - without needing to serve a meal.
The bill could be in place by this Easter weekend, with its final reading underway in Parliament.
McAnulty says venues currently have to operate under different rules than the rest of the year, which doesn't make any sense.
"All I'm proposing is that on these days, the businesses that are already operating and the workers that are already working anyway can just do so under normal conditions."&nbsp;
LISTEN ABOVE

Kieran McAnulty: Labour MP on his member's bill designed to loosen liquor regulations on public holidays

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/909563cc-1956-4ed3-8737-b41f0051110d/transcript

Jenee Tibshraeny: NZ Herald Wellington business editor on ASB facing a $6 million dollar fine for breaching anti-money laundering rules

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