Credit Union Auckland will seek a credit rating to protect its reputation, despite falling outside the criteria for the central bank's non-bank deposit takers' prudential regime.

Hawkins' Cynotech foregoes interim dividend; Dorchester Pacific makes fourth payment to investors; PGG Wrightson Finance ups ante across the board, Savings & Loans looks long.

ANZ National Bank's eight gauges of the property market found house affordability is back to "fair" levels, and the turnaround in sentiment has seen borrowers lock in longer mortgages as the prospect of rate hikes begins to grow.

Securities Commission chairman Jane Diplock has lamented investors' unwillingness to cut their losses and walk away from failed ventures, resulting in a number of finance companies going into moratorium when receivership would have been a better option.

A new fund launched by AXA Global Investors will target wider global themes with its investment strategy as it looks to leverage gains from potential high-growth sectors that are attracting investor attention.

Central bank liquidity requirements will probably have the last say in the deposit rate war as the cost of wholesale funds begins to ease, according to the chief executive of New Zealand's largest bank.

A High Court decision in Napier ordering VPFS Financial Planning to pay some $260,000 to a widow for recommending she buy into Blue Chip property investment has highlighted the ongoing problem clients trying to get redress face when things go pear-shaped.

Commerce Minister Simon Power and his Labour Party opposite Lianne Dalziel reaffirmed their commitment to ensuring pending regulation will not stifle risks inherent in attracting capital to the New Zealand economy.

OPI Pacific Finance, formerly MFS Pacific Finance, has been dealt the death blow. After 16 months sitting on moratorium row, the receivers have finally been called in.

Credit rating agency Standard & Poor's expects Equitable Mortgages will meet the central bank's capital requirement when it finally announces its prudential regime for non-bank deposit takers, and has reaffirmed the finance company's BB rating.

PSIS has launched its first PIE fund as competition for deposit funding remains tight.

New Zealand house prices edged higher and properties were sold in a shorter amount of time last month as strong demand amid rising net migration and low interest rates continue to show signs of stabilisation in the property market.

Deposit funding costs have soared above the price of wholesale funds as banks look for more secure sources of funding following the credit crunch last year, according to the Reserve Bank.

Reserve Bank Governor Alan Bollard held the official cash rate at 2.50% today, as expected, and reiterated his view that the rates will stay low until the end of next year.

Gold is still a safe bet and part of a good portfolio after prices topped US$1,000 an ounce yesterday.

The Reserve Bank has talked down the prospect of another housing boom, saying the recent gains in house prices have been driven by “an unusually low number” of residential properties for sale, and this should ease as more building consents are issued to meet a surge in demand from a growing number of migrants.