Weekly Digest – 29 March 2023

Weekly Digest – 29 March 2023

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Foreign minister emphasizes importance of relationship with China after visit

New Zealand’s foreign minister, Nanaia Mahuta, has returned from a visit to China, stating that the relationship between the two countries is very important and complex, requiring continuous management to ensure that both countries do not lose sight of each other’s perspectives.

Why interest rates cause banks to collapse

In this episode of the Cooking the Books podcast, host Frances Cook dissects the collapse of SVB in the US – a bank that may sound like a minor player but was actually larger than ANZ.

New Zealand may face difficulty in attracting overseas investors if global banking confidence worsens

According to Westpac senior economist Michael Gordon, the recent global banking turmoil has spooked financial markets and may make overseas investors more reluctant to invest in New Zealand. Although New Zealand banks are well-capitalized, a loss of confidence among global investors could make things harder and more expensive.

Twitter source code posted on GitHub likely put there by ex-employee

Twitter is demanding that GitHub reveal the identity of the user who posted its source code on its platform and has filed a Digital Millennium Copyright Act (DMCA) takedown notice. The user with the username “FreeSpeechEnthusiast” posted the source code, which had been public for at least several months.

Changing attitudes: only a third of Gen Xers plan to retire at 65

A survey by Horizon Research of ANZ customers in the Gen X age group found that only a third of respondents planned to stop working when they turned 65. The remainder expected to continue working, which could indicate changing attitudes towards work and retirement.

New uniforms for Kiwibank employees to better reflect Aotearoa

Kiwibank has launched a new collection of 46 uniforms, the first update in 10 years, designed to better reflect modern Aotearoa, including consideration for all body types, gender neutrality, accessibility, and cultural and religious preferences. The uniform range includes lavalava, hijabs, suits, slacks, polo shirts, wraps, and full-length skirts.

First Citizens Bank to buy US$72bn of Silicon Valley Bank assets at a discount

First Citizens Bank will acquire US$72 billion in assets from the recently collapsed Silicon Valley Bank, resulting in a 47% rise in First Citizens Bank shares. The deal includes 17 former Silicon Valley Bank branches, which opened their doors as First Citizens Bank branches on Monday.

The reality of more people having to rent after age 65

Half of retirement-age New Zealanders could be renters by 2053, but options for over-65s who don’t own their own homes are limited. Many are worried about how they’ll pay market rent on just New Zealand Superannuation, while others have secured a place in social housing.

Emirates resumes daily Dubai to Christchurch route with A380 plane touchdown

Emirates has resumed its daily Dubai to Christchurch route, and for the first time since the pandemic, the double-decker Airbus A380 has returned to the city. The largest passenger aircraft was greeted with excitement by plane enthusiasts and received a ceremonial water arch from airport fire trucks.

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