News From Other News Outlets – 25 September 2023

Banks

• ‘How bad does it have to get?’ BNZ record profit prompts call for inquiry
• ANZ posts half-year profit of more than $1 billion, up 14%
• Westpac announces big fall in profits
• ANZ, ASB, BNZ and Westpac given until late 2024 to be ready for open banking
• Commerce Commission to probe retail banking competition
• Rising threat of bad loans pushes bank profits down for first time in almost two years
• Treasury dubbed big four bank profits ‘supernormal’ in advice on windfall taxtax
• ASB reports record full-year profit of $1.56b
• Westpac strike: ‘Capitalist pig’ at Britomart, union says bank HQ aggravating staff

1. Bluff Aluminium Smelter
   • Rio Tinto books $122 million profit from NZ aluminium smelter
   • Rio Tinto signals no election games over aluminium smelter
   • Contaminated waste from Tiwai smelter found at disused Southland coal mine
2. Digital Transnationals
   • Google NZ pays $870m fee to US parent, books $78m local revenue
   • NZ left off Google’s global anti-scam plan while victims lose millions
   • Government dusts off plan for new revenue tax on multinational technology giants
   • Election 2023: Grant Robertson’s digital services tax on Big Tech ‘a drop in the ocean’
   • Revealed: Amazon’s efforts to work its way into the NZ healthcare system Te Whatu Ora
3. Waste-To-Energy Plant
   • Submissions filed against proposed incinerator with Overseas Investment Office
   • Waste-To-Energy plants – who’s behind the proposal and where is the money coming from?
4. Land Sales
   • 13-year-old consent to sell Bay of Islands lots to overseas investors deemed valid
   • $97,500 fine for Hong Kong controlled partnership that bought ‘sensitive’ Hamilton land without permission
5. Corporate Welfare
   • Corporate welfare or co-investment? Role of state back in play for election
6. Black Rock
   • $2 billion fund can’t solve the problem in getting to 100% renewables
7. Glenbrook Steel Mill
   • Steel mill’s move to electricity cleans up its act. Could there be dirty repercussions?
8. PwC
   • Government has no plans to investigate PwC despite Australian senator warning
9. Insurance
   • Country’s largest insurer IAG posts profit increase of 138% despite cyclone and flood claims
10. Undertakers
    • Death of the independents: Australian funeral giant pushes further into NZ, snapping up more funeral homes
11. TAB
    • TAB outsourcing deal risks putting wolf in sheep’s clothing
12. Forestry
    • Dutch forestry giants linked to Ikea cleared to buy 1600ha more NZ land
13. US Transnational 3M Cuts NZ Jobs
    • American multinational 3M confirms NZ job cuts
14. One NZ Cops Record Fine
    • One NZ cops biggest Fair Trading Act breach fine for misleading customers
15. DJ Software Firm
    • US firm InMusic questions Serato’s $113m offshore sale, Overseas Investment Office again delays decision

Campaign Against Foreign Control of Aotearoa,
P.O. Box 2258
Christchurch.