Wellington

Auckland

Auckland

PFS abandons bid for building societies, but another player steps up.

Australian research firm PIR has hit back at critics of researchers following the collapse of a number of finance companies.

UPDATED: Nathans Finance falls over, PFS abandons bid for building societies. Comment (+ responses): Commission disclosure back on the agenda.

Deposit rate news briefs: Westpac increases special rates by 1.70%, Global Credit says its notes are unaffected by turmoil, meanwhile Basis Capital outlook poor.

The past couple of weeks have had a lot of news about the credit crisis and its negative impacts on markets. Clearly reading the mainstream papers there is still plenty of action in this space and the sub-prime market in the US.

The news may be bad for people holding Bridgecorp debentures, but its worse for those with capital notes.

Financial advisers have copped a lot of blame for the failure of Bridgecorp. In the cover story of ASSET this month, editor David Chaplin discovers why the group collapsed and how advisers and the finance company industry will change in the aftermath.

The Treasury says some of its work on savings policy has been misrepresented and it is time to set the record straight on what its approach to savings really is.

Dunedin

Loan Market mortgage brokers could be cross-selling up to 70% of their lending clients into insurance products, according to the group's CEO, John Tanner.