Tourism Holdings says it has resolved a banking covenants breach issue with its banks.

Nuplex Industries will pay $3m to shareholders as part of a settlement with the Securities Commission after failing to disclose it breached a debt covenant in 2008.

The kiwi dollar plunged nearly one US cent after today's Christchurch earthquake.

Decision to let banks go under looks smarter by the day, in contrast to Ireland's costly bailout, reports Yalman Onaran.

No one likes to hear the name of his bank and the phrase "possible credit rating downgrade" in the same sentence.

Foreign investors boosted their share of government debt on issue last month to just shy of $28b, as the Crown borrows $300m a week to maintain its spending programme.

Stocks on Wall Street were mixed as investors awaited a fresh reason to extend the rally, while commodities including oil, gold and copper were boosted on hopes that Chinese demand would remain strong.

Cellphone entrepreneur tries again, with venture targeting emerging markets.

Lending to customers at New Zealand's banks grew by a meagre 0.7 per cent in the second half of their financial year, a new report shows.

Tourism Holdings said it won't meet full-year profit guidance because forward bookings have been hit by the spate of floods and storms in Australia and softening tourism demand locally and in the UK.