ASB relaunches school savings programme; NZ Funds sets record straight on fund; COF and EYF to be wound up; Tower retains right to sell policies to ANZ National customers; EUFA petitions for inquiry into industry; Plan for stricter global framework.

HBS rated BB; Petricevic Porsche sold; Babcock and Brown down; NZ Post and Kiwibank ratings affirmed; NZX partners with ANZ to create indices.

Two key trends are happening in the home loan market this week; floating rates are actually sinking and some long-term rates are rising.

On a few occasions in 2008, colleagues pointed out the “recklessness” and “inappropriateness” of commentators mentioning the possibility of the global economy slipping into a “depression”.

Andrew Hunt, international economist for Tyndall takes an in-depth look at the issues around global unemployment.

Sovereign has said it will let customers put their term life insurance on hold for up to a year if the life covered is made redundant.

Advisers are being urged to upgrade their educational training and qualifications this year so they will meet competency standards when they are introduced in 2010.

Donal Curtin has stepped down as the deputy chairman of the Commerce Commission but will remain on the commission.

Wellington

The Reserve Bank today reduced the official cash rate (OCR) by 50 basis points to 3%.

ANZ advisers have been found wanting in the advice they have given customers around investments in the ING Diversified Yield Fund and Regular Income Fund.

Auckland

Kiwibank has launched its new wealth advisory channel with five experienced advisers.

ANZ's bill for ING funds revealed; Moodys has negative outlook for structured credit; TNP and Adviser Link form alliance