A former ASB investment adviser who stole nearly $18 million is likely to repay just $3m to $5m to the bank.

Details of how a former investment banker stole nearly $18 million in NZ's largest employee theft will stay secret until the man is sentenced next month.

John Key wants New Zealand to become an international financial hub specialising in the administration of overseas pension funds.

The pace at which the sharemarket recovered from losses after the global financial crisis has raised questions about how sustainable the gains are.

John Key has defended a proposed rise in GST after a Herald video revealed he had ruled it out in 2008.

ASB Bank has taken $209 million of a $264 million tax and interest bill from tax avoidance settlements onto its books.

Big personal tax cuts for middle and high-income earners are likely to be announced in the May Budget and take effect from October this year.

State-owned Kiwibank has cut its variable mortgage rate to 5.65 per cent.

The New Zealand dollar touched a new five-month low of 68.17 US cents overnight.

John Key has vowed to stick with his goal of closing the income gap with Australia, despite the Reserve Bank Governor saying there is no chance of it happening.