Auckland

Westpac faces a tax bill of close to $1 billion after losing one of New Zealand's largest ever tax avoidance cases.

In a year that has seen two KiwiSaver providers close up shop, the big bank brands were again dominating fund flows, the second annual Good Returns KiwiSaver survey has found.

Former ING New Zealand managing director Paul Fyfe says ANZ's proposal to buy the remainder of ING is a good deal.

Stephen Sinclair has joined fellow Business Bakery founder Geoff Baker on the board of Dorchester Pacific as a non-executive director.

Wellington

Mark Cassidy has been appointed Public Trust's senior relationship manager, based in Wellington.

Close but no Knockout; New redundancy product on the market; Ecodiesel $4.5m notes offer; Unlisted welcomes property fund; Sirius' sister wins awards

Marac looks to Heartland New Zealand; Macquarie Fortress Notes climb back to 24.8 cents; National Finance 2000 secured investors get last payment.

Investment in a real asset such as shares (which entitle the owner to all future cashflow generated by a brand or asset), property (representing a scarce and physical asset) or commodities (representing an economic input into the factors of production) is far more likely to preserve investors' capital than holding any form of IOU (be it bank deposit, foreign currency or government bond) when the monetarisation of the world's current debt stock pile begins.