Another week of many changes. As expected lenders kept bumping up their floating rates by 25 basis points in response to the latest increase in the OCR by the Reserve Bank.

Managed fund research house FundSource says forget all the hype about property, New Zealand shares are a better investment.

Tower New Zealand managing director Paul Bevin has sounded a strong note of scepticism about the government’s workplace savings group recommendations.

Auckland

The Australian government is following New Zealand’s lead, and is planning to establish a multi-billion fund to help the state meet its future pension costs.

Instant Finance has been given a B3 credit rating and a tick as investment grade by ratings agency Rapid Ratings.

Instant Finance has been given a B3 credit rating and a tick as investment grade by ratings agency Rapid Ratings.

Wellington

United Future revenue spokesman Gordon Copeland believes that there is a straightforward solution to the current over-taxation of superannuation fund earnings.

Premiums paid for life insurance grew by 5% from $1.04 billion to $1.09 billion in the year ended 30 June 2004.

Marathon Asset Management founding director Jeremy Hosking says the global sharemarket has been under pressure from what he calls the “three bears” but there are signs things are improving.

Strategic Finance has reported an after tax profit of $18.9 million for the year ending June 30.

The past week has been busy with lots of rate changes – as could be expected.