News releases

Clients expect more from brokers in new risk era

[02 October 2014]

Brokers need to take on a wider risk advisor role in the market or face losing profitable business to special risk advisors, according to PwC’s new report ‘Broking 2020: Leading from the front in a new era of risk’.

The report, which draws on a survey of risk buyers from multinational organisations, reveals that organisations think the evolving and challenging risk environment can no longer be managed solely through traditional approaches and are beginning to engage a wider set of advisors to get the specialty advice they need. 

 

New Zealand organisations lag behind global counterparts in managing security and privacy risk

[02 October 2014]

New Zealand organisations are trailing behind their global counterparts in managing their security and privacy risk, according to findings from The Global State of Information Security® Survey 2015 by PwC, in conjunction with CIO and CSO magazines.

 

OECD tax reform - impact for New Zealand business

[17 September 2014]

The OECD set out final recommendations from the first half of its tax reform programme to tackle Base Erosion and Profit Shifting (BEPS) yesterday.

PwC New Zealand Tax and Private Business Leader Geof Nightingale says, “The BEPS project marks the most significant change to international tax in modern times. This announcement will have a big impact on global companies, whether through greater compliance demands or impacting how they are structured

 

Executives rely on experience and advice, over data

[11 September 2014]

Business leaders around the world – 94% – say management of their company is prepared to make significant decisions about the strategic direction of their business, but barely one-third relied primarily on data and analytics when they made their last big decision.

 

Customers set to take more control in power switch up

[28 August 2014]

Electricity consumers want more control over their energy supply, usage, service standards and costs, according to findings from a PwC report, Utility of the future – a New Zealand context.

 

Better forecasting for farmers

[20 August 2014]

With a forecast 2015 farm gate milk price of $6.00 per kilogram of milk solids, the concern facing dairy farmers is whether their cost structures can sustain a payout at this level, or at an even lower level, as some commentators are predicting. 

 

Employees to open up social media access for better work deal

[19 August 2014]

Data profiling could soon become commonplace in the workplace, according to PwC’s report, The future of work: A journey to 2022, with nearly a third of workers happy for their employer to have access to personal data, such as their social media profiles.

 

Strategic Finance settlement proceeds to first distribution

[12 August 2014]

In June this year PwC Partners John Fisk and Colin McCloy, as Receivers of Strategic, together with the Financial Markets Authority, announced they had finalised a $22 million settlement agreement with the former directors and auditors of Strategic.

 

Work and personal lives to blur

[30 July 2014]

The boundaries between work and personal life may disappear as companies assume greater responsibility for the social welfare of their employees, according to PwC’s report, The future of work: A journey to 2022.

This is just one outcome that may evolve in the workplace of the future, driven by radical changes in technology and social and demographics of the workforce within the next eight years.

 

Postie Plus Group Limited (Administrators Appointed)

[18 July 2014]

David Bridgman and Colin McCloy, as Administrators of Postie Plus, have today announced they have completed the sale of the Postie Plus business to Roan Limited, a wholly owned subsidiary of Pepkor Limited.

 

‘Traditional’ banks may not exist by 2025

[11 July 2014]

A new report from PwC suggests that by as soon as 2025 to 2030, New Zealand could exist without banks of the traditional kind. The report, The Future Shape of Banking, says that as barriers to entry for non-banks to provide formerly ‘core’ banking services continues to decline, the business models of today’s banks will be challenged.

 

The rise and rise of the NZ dollar exchange rate – implications for the New Zealand economy

[11 July 2014]

Over recent weeks there has been much commentary and analysis of what factors have driven the NZ dollar currency value to record post-1985 float highs.

 

Customers go digital and prepared to get personal with insurers for best offer

[08 July 2014]

Increasing digital engagement with customers is essential to gain attention and ensure products and services stand out, according to PwC’s latest global report - Insurance 2020: The digital prize – Taking customer connection to a new level. Seventy per cent of insurance consumers now use a digital platform (price comparison websites, insurance sites and social media) to research before buying products or services.

 

PwC welcomes tax pooling amendments

[03 July 2014]

PwC Tax and Private Business Leader Geof Nightingale says that the Government’s announcement of its intention to introduce legislation to correct the operation of the current tax pooling rules is welcome as a sensible fix.

 

Postie Plus Group Limited (Administrators Appointed)

[30 June 2014]

David Bridgman and Colin McCloy, as Administrators of Postie Plus, have today announced that they expect it will be another two to three weeks before the current conditional agreement concerning the sale of the Postie Plus business becomes unconditional and can be completed. The intended purchaser, an international retail group, is continuing its due diligence.

 

PwC New Zealand acquires user experience design consultancy Optimal Experience

[23 June 2014]

PwC New Zealand is growing the digital side of its consulting practice with the acquisition of market leading user experience and design consultancy Optimal Experience, the professional services firm announced today.

 

Postie Plus Group Limited (Administrators Appointed)

[18 June 2014]

David Bridgman and Colin McCloy, as the Administrators of Postie Plus Group Limited (Administrators Appointed) announced today the Company’s decision to close 12 Postie Plus stores, affecting 64 Postie Plus staff.

 

PwC welcomes the signing of FATCA agreement with the US

[12 June 2014]

Revenue Minister Todd McClay and United States Chargé d’Affaires a.i., Marie Damour today signed an inter-governmental agreement (IGA) for the implementation of the Foreign Account Tax Compliance Act (FATCA) in New Zealand, providing certainty to New Zealand financial institutions preparing for the rules going live on 1 July 2014.

PwC Partner Mark Russell says the signing of the IGA allows New Zealand financial institutions to proceed with implementing the systems required for FATCA.

 

Investing in Christchurch – the new PwC Centre

[6 June 2014]

PwC is delighted to confirm our role as anchor tenants for the new CBD development in the heart of Christchurch’s CBD. The new building will be known as The PwC Centre, and at 56-64 Cashel Street, will be ideally located on the Avon River, overlooking the Bridge of Remembrance, and central to the developing business centre, retail and justice precincts, as well as to transport links.

 

Settlement reached for Strategic Finance claims

[5 June 2014]

PwC Partners John Fisk and Colin McCloy, as Receivers of Strategic Finance Limited (In Receivership and Liquidation) (Strategic), and the Financial Markets Authority (FMA), have announced today that they have finalised a settlement agreement with the former directors and auditors of Strategic for $22 million.

 

The digital money maker

[5 June 2014]

It’s digital to the rescue with more dollars from online consumer and advertising revenue forecast to offset a declining spend on traditional entertainment and media content. This is one finding from PwC’s Global entertainment and media outlook 2014-2018.

 

Postie Plus Group Limited Conditional agreement to sell the assets and business of the Company

[4 June 2014]

David Bridgman and Colin McCloy, as the Administrators of Postie Plus Group Limited (Administrators Appointed) are pleased to announce a conditional agreement to sell the assets and business of the Company as a going concern to an international retail group.

 

PwC predicts Brazil to win World Cup

[3 Jun 2014]

As hosts Brazil prepare to kick off the FIFA World Cup in Sao Paulo on Thursday June 12th, we have turned to ‘econometrics’ in a bid to determine success and failure at this major sporting event. PwC Director and economics expert Chris Money says, “If we were to apply our model to New Zealand's run in the last World Cup in South Africa, it successfully predicts the outcome.

 

Postie Plus Group Limited in voluntary administration

[3 Jun 2014]

Colin McCloy and David Bridgman, Partners from PwC, today have been appointed Administrators to Postie Plus Group Limited (PPGL). The business is now in voluntary administration.

Skills gap hampering business recruitment efforts and threatening growth

[26 May 2014]

More New Zealand organisations are planning a hiring spree over the next 12 months as their growth prospects improve, but four out of five CEOs are concerned they won’t be able to find the people with the skills needed to fill these positions.

Budget 2014: Australia vs. New Zealand

[15 May 2014]

“Comparing New Zealand Budget today with Australia’s on Tuesday makes an interesting contrast,” PwC Partner Richard Forgan says.

“Both governments focused on expanding the economic capacity of the nations with support for innovation, science, R&D, defence and infrastructure. But about there the similarities end.”

Budget 2014: Good news for business

[15 May 2014]

“Budget 2014 delivers a range of good news for New Zealand business,” PwC Corporate Tax Leader Geof Nightingale says.

“The return to surplus and the forecast reduction in debt relative to GDP delivers a stable fiscal platform that will give business the confidence to invest. It’s that business investment will drive economic growth and employment.

Budget 2014: Where’s the magic?

[15 May 2014]

Forecast economic growth rising as high as 4% in 2016, and strongly growing tax revenues has allowed the Government to present a Budget that achieves a surplus, while increasing Government spending significantly, and still reduces the size of the Government relative to GDP.

So where’s the magic?

“The magic in Budget 2014 is the forecast growth of the economy, the trick is making sure the magic is real,” PwC Corporate Tax Leader, Geof Nightingale says.

Budget 2014: Ready to Rise

[15 May 2014]

Despite carefully managed pre-budget expectations, Budget 2014 has delivered two surprises; a surplus of $372m in 2015, appreciably higher than the wafer thin surplus expected; and when taken over a four period, higher planned new spending in health, education and welfare than was expected.

Record bank earnings but margins near all-time low

[8 May 2014]

Australia’s four major banks delivered combined underlying cash earnings of $14.8 billion for the first half - up 6 per cent on the previous half and up 10 per cent on the same time last year - according to PwC’s biannual Major Banks analysis.

Innovation: a key growth driver for China’s CEOs

[6 May 2014]

With the global economy starting to show signs of recovery, CEOs around the world are focusing further on growth. Yet, for China’s CEOs, who have been in growth mode for much of the last three decades, the question top of mind is, “How can growth be sustained?”

Revealing Australian and New Zealand banks greatest fears for 2014

[29 April 2014]

Australian and Kiwi banks hold greater fears than their overseas colleagues for their sales and business practices and the potential concern social media poses to their reputations, according to the London-based Centre for the Study of Financial Innovation and PwC.

 

Family business: Taking control without breaking it

[16 April 2014]

Passing control from one generation to the next can make or break a family business; and as New Zealand’s ‘baby boomers’ hand over to ‘millennials’, the risks of getting it wrong have never been greater.

 

PwC named a leader in Four IDC MarketScape Reports for Business Consulting Services

[11 April 2014]

PwC US today announced the firm was selected as a leader in four IDC MarketScape reports on Business Consulting Services in the following regions: Worldwide, Americas, EMEA and Asia/Pacific.

PwC New Zealand Partner and Advisory Leader Craig Rice says, "These findings recognise that our Advisory services continue to head in the right direction.

PwC welcomes progress on FATCA agreement with the US Treasury

[3 April 2014]

The US Treasury today announced it has reached an ‘agreement in substance’ with New Zealand on the terms of an inter-government agreement (IGA) for the implementation of the Foreign Account Tax Compliance Act (FATCA) rules. This will provide greater certainty to New Zealand financial institutions preparing for the rules going live on 1 July 2014.

Chasing hard to keep pace with Kiwis’ digital needs

[28 March 2014]

Digitisation is the biggest transforming trend impacting New Zealand business, yet PwC’s 6th Annual Digital IQ Survey suggests New Zealand companies’ technology investments may not be paying off.

Settlement reached for Bridgecorp claims

[12 March 2014]

PwC Partner Colin McCloy, Receiver of Bridgecorp Limited (In Receivership and In Liquidation), has announced an $18.9 million settlement with the Bridgecorp directors and their liability insurers.

Eight expectations of the global shopper

[26 February 2014]

With consumers increasingly shopping via tablet and smartphone, over half (55%) of internet shoppers globally say they now buy online because they get better deals than in-store, according to new research from PwC.

The report Achieving Total Retail: Consumer expectations driving the next retail business model shows how retailers need to develop a new, customer-focused business model to deliver on expectations for the store of the future.

The performance of New Zealand’s banks indicate a confident and growing economy

[26 February 2014]

New Zealand’s five major banks (ANZ Bank New Zealand, ASB, Bank of New Zealand, Kiwibank and Westpac) have continued to show good growth in the second half of their 2013 financial years (2H13).

Settlement reached for Lombard (In Receivership) claims

[24 February 2014]

PwC Partners John Fisk and Colin McCloy as Receivers of Lombard Finance & Investments Limited (In Receivership) (Lombard) today have announced they have reached a settlement agreement with the Directors of Lombard, their insurers, and a third party for $10 million.

Economic crime: what you don’t know can hurt you

[20 February 2014]

One third of New Zealand respondents report their workplaces being victimised by economic crime in the past two years (33%), lower than the global average at 37% and significantly below our neighbours in Australia at 57%.

While business confidence is high and the economic outlook looks bright, fraud is an unfortunate downside for businesses, finds PwC’s 2014 Global Economic Crime Survey.

Survey finds New Zealand CEOs more positive than global peers

[14 February 2014]

New Zealand CEOs are significantly more positive about the outlook for the global economy over the next 12 months than their global peers: this is one of the key findings from PwC’s Annual Global CEO Survey.

PwC is calling for NZ & Chinese businesses to harness the Year of the Horse

[31 January 2014] | View this page in:简体中文版

Today marks the start of the Chinese New Year. We are entering the Year of the Horse which is characterised by its grace, hard work and dedication. PwC New Zealand is calling for New Zealand and Chinese businesses to harness these qualities and enhance their business relationships and develop stronger engagement between the two countries.