New qualification for advisers, Tauranga firm goes bust.

Newpark owner Darren Gannon has scotched rumours that Professional Investment Services (PIS) is buying the group.

Dunedin

AIG Life says it has had one of the biggest 12-month periods in its 27-year history, propelled in part by a 150% increase in the group and employee benefits business.

UPDATED: Hanover Finance took a double hit yesterday with a ratings downgrade and news of a Commerce Commission investigation.

Christchurch

The Reserve Bank today reduced the official cash rate (OCR) from 8.25% to 8.00%.

The Reserve Bank today reduced the official cash rate (OCR) from 8.25% to 8.00%.

Hanover Finance has suspended acceptance of new investments and repayment of existing deposits as it worked with trustees on a plan to restructure the business going forward.

Wellington