A group is calling Bridgecorp investors to a meeting later this month in a step toward taking legal action against the failed company and financial advisers.

Standard and Poor's has downgraded its rating for Geneva Finance, as signalled, from B+ to B- at a time when the company is in talks with a major funder.

Hamilton

Auckland

The manager of the NZDX-listed PINs notes, Absolute Capital, has confirmed that this quarter's interest payments won't be made on time.

In the first three months of KiwiSaver the enrolment figures have already broken through the 200,000 mark, Finance Minister Michael Cullen and Revenue Minister Peter Dunne said today.
Press Release

The past week has been a good one for people looking to put money on deposit. Rabobank has set the rates on its perpetual notes at 9.48%, one finance company has set a new high water mark for the industry and another is offering an extra 0.85% to existing customers.

The government's major initiative to help first-time buyers, Welcome Home Loans, into their own home has reached 3000 loans.

Legal action over Bridgecorp, Further signs housing market cooling, AMP Intl shares strategy given rating, Fisher spawns new fund.

An Auckland-based law firm is looking to take legal action against advisers who recommended their clients put money into failed finance company Bridgecorp.

The PIE (Portfolio Investment Entities) tax changes came into effect on 1 October 2007 and relate to changes in the tax rates on investment returns from PIE compliant managed funds and the way this tax is paid by investors.

The New Zealand Superannuation Fund has produced a net return of 14.58% in the latest financial year.

More bad news has been delivered to fixed interest investors just when the finance company sector and credit markets looked to be settling down.