South Canterbury Finance was not as big a favourite among advisers as it had been in the past, though the government’s quick action to pay-out all debt holders will help quell too much uncertainty.

ANZ National sheds deposits in June quarter while Westpac adds to its book; Blue Star hopes to get bond interest payments up and running; NBDT regs push Fletcher Building out of market; Manukau City put up another retail bond; Dorchester looks to boost directors' fees, CEO pay.

The Reserve Bank will pause in raising interest rates until March 2011 given near term growth risks and distant inflationary pressures according to the New Zealand Institute of Economic Research (NZIER).

The Government is taking steps to swiftly repay investors, reduce the cost to taxpayers and ensure minimal disruption to the wider economy following the receivership of South Canterbury Finance, Finance Minister Bill English says.

First NZ Capital (FNZC) Investment Management has appointed Mark Brown as its head of fixed income.

South Canterbury Finance announced today that it has been unable to complete a recapitalisation and restructure.

Wellington

Lisa Winkle has been appointed managing principal ASB Securities after heading Operations and Technology at ASB Securities for the past seven years.

The enactment of the Insurance (Prudential Supervision) Bill provides increased certainty for New Zealand insurance policy holders says Finance Minister Bill English.

Three bidders vying for SC Finance; Strategic alliance creates new platform for advisers; Share develops end-to-end advice process.

Three private bidders are seeking to invest in South Canterbury Finance, the chief executive of the beleaguered Timaru finance company, Sandy Maier, says.

The fate of South Canterbury Finance hangs in the balance this weekend, with just four days until a waiver on its trust deed expires on Tuesday.

The statutory manager for Alan Hubbard and Hubbard Funds Management have released its second report and says investments in the funds business were over-valued by 25% (Full report attached)