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Banking and Finance – ASB drops mortgage rates

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Source: ASB 

ASB has today reduced four of its fixed home lending rates, including some of its most popular terms.

ASB’s Executive General Manager Personal Banking Adam Boyd says “We’ve got tens of thousands of customers due to refix onto lower rates in 2025, and we know any rate reduction is going to help these households, with savings they can put towards other important things. By Christmas, around 90% of customers holding a fixed home loan are likely to be on a rate less than 6%.”

 ASB also reduced some term deposit rates by between 5 and 15 basis points.

All rate decreases are effective immediately.

 

  Fixed home lending term

Previous rate

New rate

Rate decrease

6-month

5.29%

5.12%

– 17 bps

1-year

4.89%

4.79%

– 10 bps

18-months

4.89%

4.79%

– 10 bps

2-year

4.95%

4.89%

– 6 bps

 

 

MIL OSI

Drainage works and road rebuild planned for State Highway 1 at Kuku

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Source: New Zealand Transport Agency

Improvements and road repairs are coming for State Highway 1 between Manakau and Ōhau later this month.

Nightworks will be underway south of Kuku East Road, on Sunday to Thursday nights 8 pm to 4:30 am, from Sunday, 24 August to Thursday, 18 September.

Roxanne Hilliard, Wellington Alliance Manager, says contractors will be completing a road rebuild and drainage improvements. 

“This section of State Highway 1 is heavily used and carries around 18,000 vehicles daily. It is now at the stage where it needs a full rebuild.”

“This will mean that contractors will have to excavate around half a kilometre of the highway. This will be disruptive, but the result will be a much improved and more durable stretch of road that will need less maintenance and repairs in the future,” Ms Hilliard says.

The work is being done at night under stop/go traffic management when there are fewer vehicles on the road, and Ms Hilliard says the highway will be open to traffic during the day

“Because there are no local road detours, we have to keep the highway open while we complete this work. It will mean drivers will experience some delays travelling through the area. Outside of work hours, there will also be a reduced speed limit in place during the day.”

“We apologise for any inconvenience this may cause. However, this is essential state highway maintenance, and it is critical it be completed,” Ms Hilliard says.

She says contractors will make the most of the rebuild and also complete drainage works.

“They will be installing a soak pit and sub-soil drains. This helps keep water away from the highway, which is vital for preventing road and pothole damage.”

“It is important drivers take care when driving through this work site. While the rebuild is underway, the highway will have a rough surface. Please, keep yourself and our workers safe, and avoid damaging your vehicle by following the temporary speed limit in place and all traffic management instructions,” Ms Hilliard says.

Works schedule and location map:  

  • Sunday, 24 August to Thursday, 18 September, Sunday to Thursday nights, 8 pm to 4:30 am
  • Stop/Go traffic management and 30 km/h temporary speed limit.
  • SH1 open to two lanes outside work hours under a reduced speed limit

MIL OSI

A new approach for road maintenance and night closures on State Highway 58

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Source: New Zealand Transport Agency

A new way of managing road maintenance is about to be trialled on one of Wellington’s key state highways – State Highway 58, between Hutt Valley and Transmission Gully.

Roxanne Hilliard, Wellington Alliance Manager, says the highway carries around 20,000 vehicles daily, and is currently the site of ongoing works for the State Highway 58 Safety Improvements project.

“What we want to do is ensure we carry out other planned state highway maintenance on this route in a way that causes the least disruption and inconvenience for drivers and the community.”

“That’s why we will trial the approach we currently use on State Highway 2 Remutaka Hill  – regularly scheduled nighttime maintenance closures,” Ms Hilliard says.

Benefits

Ms Hilliard says night closures are the most efficient and low-impact way of getting maintenance work done.

“Our traffic data shows that while State Highway 58 carries, on average, 20 thousand vehicles every day between the Hutt Valley and Pāuatahanui, traffic volumes between 10 pm and 4 am are far, far lower – around 330 to 450 vehicles only.”

“It makes sense to do our road maintenance when fewer people use the route, and the most efficient, low-impact way is a night closure,” Ms Hilliard says.

She says they also mean essential safety barrier repairs can be completed faster.

“The wire rope barriers on State Highway 58 are a vital safety feature. They significantly reduce the risk of head-on collisions and deaths and serious injuries when people have a crash.”

“When they are hit, it is important we repair them as soon as possible so they can continue protecting drivers,” Ms Hilliard says.

Resident and business access

Ms Hilliard says residents, business owners, business customers, and emergency services will have access through the closures at all times. 

“They will be supported and have access when they need it. We are working on pilot vehicle solutions and will provide more details before the first planned closure in mid-September.”

She says, unlike the State Highway 2 Remutaka Hill closures, there will not be nightly escorts for other traffic through the work sites.

“People in the Hutt Valley needing to access Porirua or State Highway 1 Transmission Gully will have to travel via State Highway 2 to Ngauranga and then use State Highway 1. People heading to the Hutt Valley will have to use State Highway 1, then State Highway 2.”

“This is a longer trip, and people will need to allow for extra travel time when the closures are in place,” Ms Hilliard says.

Next steps

The new approach will be trialled for three months, with the first night closure scheduled for the night of Sunday, 14 September.

State Highway 58 will be closed between the State Highway 2 Haywards interchange and the State Highway 58 Pāuatahanui interchange.

The closure will run from 10 pm on Sunday night until 4 am Monday morning. Contractors will repair safety barriers, maintain vegetation, complete culvert inspections and compete other general maintenance work.

Ms Hilliard says once the trial is completed in November, a full review will be done.

“We need to take the time to check the approach, make sure it works, and make a call on whether it should be put in place permanently.

These planned closures apply to planned maintenance and are separate from the ongoing State Highway 58 Safety Improvements project.

Date

Closure start

Closure end

Sunday 14 September

Sunday 14 September, 10pm

Monday 15 September, 4am

Sunday 5 October

Sunday 5 October, 10pm

Monday 6 October, 4am

Sunday 9 November

Sunday 9 November, 10pm

Monday 10 November, 4am

MIL OSI

Burglars caught out on the job

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Source: New Zealand Police

Two alleged burglars who broke into a vacant restaurant have bitten off more than they could chew after being caught in the act.

At about 2.47am, Police were alerted to a possible break-in at a commercial premises on Beach Road.

Senior Sergeant Tony Turner, Auckland City Police, says a nearby security guard had witnessed two people inside the building and raised the alarm.

“Officers quickly arrived and located one man carrying a black suitcase filled with property.

“A search of the building then located another man, attempting to hide from Police,” he says.

“I commend our Police staff who flooded the area quickly and located these offenders.

“I also want to extend our thanks to the security guard who observed suspicious behaviour and reported it to Police on 111 straight away, enabling the quick apprehension of the two men.”

Two men, aged 58 and 46, will appear in Auckland District Court today charged with burglary.

ENDS.

Holly McKay/NZ Police

MIL OSI

Woman charged in relation to death in Awakeri

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Source: New Zealand Police

Attribute to Detective Inspector Lew Warner, District Manager Criminal Investigations.

A homicide investigation has been launched following the death of a woman in Awakeri yesterday afternoon.

Emergency services were called to a property on State Highway 30 at around 4:30pm after reports of a serious assault.

Despite medical attention, sadly the injured woman died at the scene.

Another woman was taken into custody. The 25-year-old is due to appear in Whakatane District Court today, charged with murder. Police are not currently seeking anyone else in relation to this matter.

Police are now working to establish the full circumstances around what has occurred.

A scene examination continues at the property today and the community can expect to see an increased Police presence while we work in the area.

ENDS

Issued by Police Media Centre

MIL OSI

Ngamotu Road closed following crash

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Source: New Zealand Police

Ngamotu Road, Rerewhakaaitu, Rotorua, will be closed for some time following a single vehicle crash that occurred around 5.30am.

Indications are that there are serious injuries.

Ngamoto Road is closed between Gavin and Okahu Roads, and motorists are asked to avoid the area.

ENDS

MIL OSI

Update: Fatal Police shooting, Bryndwr, Christchurch

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Source: New Zealand Police

Please attribute to Superintendent Tony Hill, Canterbury District Commander:

A scene examination is ongoing after Police shot two people at a Christchurch address on Wednesday night.

A man remains in a critical but stable condition in hospital following the shooting on Clyde Road in Christchurch.

He underwent surgery yesterday afternoon.

In the coming days, a post-mortem is expected to be carried out on the woman who died at the scene.

Cordons and a scene guard will remain in place at the property while the scene examination is completed.

Incidents such as this are complex and a range of investigations are already underway.

As such, we are limited in the detail we can provide at this stage.

Police are supporting the family of both the man and woman, as well as our own people.

Officers involved in critical incidents such as fatal shootings are provided full welfare and wellness support.  

ENDS

Issued by Police Media Centre

MIL OSI

Fatal crash, SH 5, Whakarewarewa

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Source: New Zealand Police

One person has died after a petrol tanker rolled on State Highway 5 near Whakarewarewa around 2 am this morning.

The highway remains closed with diversions in place at the northern and southern ends of SH5.

The Serious Crash Unit is examining the scene and contractors will be clearing debris and spilt fuel across the highway.

Motorists should factor extra time in their journey when using the diversion.

ENDS

MIL OSI

Pay Equity – More pay equity specialist expertise to be lost in further betrayal on pay equity

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Source: PSA

The Public Service Association Te Pūkenga Here Tikanga Mahi says the Ministry of Education’s proposal to disestablish its specialised pay equity team is yet another betrayal of women who need pay equity and goes to show how unworkable the current Government’s changes are.
The Ministry of Education proposal would disestablish 28 roles, citing the Government’s changes to pay equity legislation in May and what it describes as “evolving government priorities.”
“By disbanding the very team whose job it is to identify and fix this discrimination, the Government is sending a clear message that contrary to its assurances, addressing gender pay discrimination is simply not possible in New Zealand.
The PSA is calling on the Government to abandon the proposal and genuinely commit to ending gender-based pay under-valuation of work done by women.
“The Ministry’s pay equity team are specialist professionals with important expertise in supporting New Zealand women to resolve pay equity claims. The Government’s new unworkable pay equity regime has prohibited the workers covered by those cancelled claims from re-raising their claims and the direct impact on the pay equity team is they can no longer do their job.”
The pay equity team was actively working on critical claims affecting thousands of education workers, including specialist residential school workers represented by the PSA, teachers represented by NZEI and PPTA, and Ministry of Education employees in three separate NZEI claims.
“These cases represented genuine instances where predominantly female workforces have been systematically undervalued and underpaid compared to male-dominated roles of equivalent skill and responsibility.
“Gender-based under valuation doesn’t vanish simply because the Government has stripped away workers’ legal rights to pursue pay equity claims,” PSA national secretary Fitzsimons said. “The inequities that drove these claims remain as urgent today as they were before this Government changed the law.
“Specialist residential school workers, teachers, and Ministry employees are still doing the same valuable work they were before, and they still deserve fair pay that reflects the true value of their contributions. The Government should be working to resolve these inequities, not pretending they don’t exist by dismantling the teams designed to address them.”

MIL OSI

NZ-AU: IREN to Release FY25 Results on August 28, 2025

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Source: GlobeNewswire (MIL-NZ-AU)

NEW YORK, Aug. 14, 2025 (GLOBE NEWSWIRE) — IREN Limited (NASDAQ: IREN) (“IREN”) today announced that it will release its financial results for the fiscal year ended June 30, 2025, on Thursday, August 28, 2025 and host a conference call beginning at 5:00 p.m. Eastern Time.

The webcast will be recorded, and the replay will be accessible shortly after the event at https://iren.com/investor/events-and-presentations

 
Webcast and Conference Call Details
Time & Date: 5:00 p.m. Eastern Time, Thursday, August 28, 2025  
  Participant Registration Link  
  Live Webcast Use this link  
  Phone Dial-In with Live Q&A Use this link  
       

Participants joining the conference call via the phone dial-in option will receive their dial-in number, passcode and PIN following registration using the link above. It would be appreciated if all callers could dial in approximately 5 minutes prior to the scheduled start time.

There will be a Q&A session after IREN delivers its financial results. Those dialling in via phone can elect to ask a question via the moderator. Participants on the live webcast have the ability to pre-submit a question upon registering to join the webcast or can submit a question during the live webcast.

About IREN

IREN is a vertically integrated data center business powering the future of Bitcoin, AI and beyond utilizing 100% renewable energy including through the purchase of RECs. Strategically located in renewable-rich, fiber-connected regions across the U.S. and Canada, IREN’s large-scale, grid-connected facilities are purpose-built for the next generation of power-dense computing applications.

  • Power & Land Portfolio: 2,910MW of grid-connected power secured across >2,000 acres in the U.S. and Canada, with an additional multi-gigawatt development pipeline.
  • Next-Generation Data Centers: 810MW of operating data centers underpinning three verticals: Bitcoin Mining, AI Cloud Services and AI Data Centers.
  • Bitcoin Mining: one of the world’s largest and lowest-cost Bitcoin producers with 50 EH/s of installed self-mining capacity.
  • AI Cloud Services: delivering high performance cloud compute to AI customers with next-generation NVIDIA GPUs.
  • AI Data Centers: end-to-end design, construction and operation of data center infrastructure tailored for AI workloads.

Contacts

Media Investors
Megan Boles
Aircover Communications
+1 562 537 7131
megan.boles@aircoverpr.com
Mike Power
IREN
mike.power@iren.com
   
Jon Snowball
Sodali & Co
+61 477 946 068
+61 423 136 761
 
   

To keep updated on IREN’s news releases and SEC filings, please subscribe to email alerts at https://iren.com/investor/ir-resources/email-alerts.

– Published by The MIL Network