Prudential has abandoned its plan to buy AIG's Asian life unit, which includes AIA New Zealand, for $35.5 billion.

AXA appoints new Aussie manager; Marac-led bank could get investment grade rating

It's been quiet on the regulation front for a couple of weeks, but I suspect that will change soon. In many ways it's been a little unsettling how quiet it has been which may be a precursor to some major upheaval. My sources around the place tend to indicate that there may well be some major changes coming up.

Borrowers could still toss a coin between floating or fixing, however BNZ economist Tony Alexander says he likes certainty, so if pressed he would probably fix two years knowing nothing he could do would stop him being hit at some stage by high floating and later, slightly higher fixed rates.

A "staggering 20%" of New Zealanders are prepared to skip a mortgage repayment over the next year if they run short of cash according to a new study.

Auckland

Auckland

AXA Asia Pacific, and its parent AXA SA, have agreed to give National Australia Bank until July 15 to convince the Australian regulator its acquisition of the trans-Tasman wealth management businesses will not hinder competition.

South Canterbury Finance has rolled over a block of debentures coming due in the coming months, helping ease its looming liquidity crisis, making a significant improvement in the ailing finance company's reinvestment rate and maturity profile.

At its meeting today, the Board decided to leave the cash rate unchanged at 4.5 per cent.