Reserve Bank Governor Alan Bollard said: "The global economy is currently experiencing significant increases in oil and food prices.

Leaders in the financial services industry were surprised to find in the Budget that the industry would be paying millions of dollars for the regulation of the sector.

The government is going to have one last attempt at trying to reach an agreement with its Australian counterpart over the use of franking credits.

Geneva Finance says that it has made its first capital repayment on schedule, following the conclusion of its capital reconstruction plan.

Planet Financial Services has appointed three new directors to its board of Directors.

SSgA achieves ETF milestone; Sirius Wealth launches specialist portfolio; Guardians of NZ Super receive Auditor General's approval; Macquarie Reflexion Trust is 'sound'; GPG not to extent partial offer for Tower; St Laurence net profit up 21.9%

The biggest story this week, I think, is the one about the government's stance on cash PIEs. There have been fears since the government didn't design the PIE regime with cash and income funds in mind, that it would change the rules.

The collapse of Belgrave Finance this week alongside reports on Capital + Merchant and Lombard are likely to impact on reinvestment rates with other finance companies.

Auckland

Bronwyn Shanks has been lured back to New Zealand to head a national financial advisory focused on maximising consolidation moves in the sector.

Investors in failed finance company Capital + Merchant may get back less than 10 cents in the dollar, the receivers say.

Belgrave Finance has chosen to go into receivership, rather than seek a moratorium like other companies have done.

UPDATED: General Electric is considering selling or changing the model of its franchised Wizard Home Loan operation in New Zealand.