The departure of ANZ New Zealand chief executive after an expenses review raises serious doubts about the board’s ability to run a bank, a former BNZ chair says.

Huawei founder and CEO Ren Zhengfei said the impact of a US ban was more severe than expected and warned that revenue would dip to around $US100 billion this year and the next.

ANZ chairman Sir John Key says the departing chief executive believed he was given permission to spend bank money on cellaring wine in Australia and chauffeured cars.

David Hisco has left after an investigation into his expenses.

Dennis Barnes has been the chief executive of New Zealand’s largest power company since 2011.

A commercial pilot academy based at Whanganui Airport has struck a $50 million deal with India’s largest passenger airline to train hundreds of pilots.

In today’s business news – Infratil raises enough money to buy its share of Vodafone and Auckland Airport passenger numbers continue to rise.

The liquidators of Ebert Construction are taking legal action to claw back a portion of the $7.3 million paid to a company controlled by Ebert’s directors while the company was technically insolvent.

The latest study of New Zealand’s primary sector shows booming exports for the second year in a row, despite regions affected by drought, fires, and biosecurity responses like Mycoplasma bovis and fruit flies.

In today’s business news – Arrow International liquidators lose its battle with the Chow brothers, house price inflation is on track to accelerate next year and Chorus confident it will meet demand during the Rugby World Cup.