The New Zealand and Australian dollars have tumbled against the yen as Japan's currency broke through key resistance levels to reach a record high against the greenback.

The Southern Steel bounced back from a dire opening quarter last nigth to run down the Central Pulse.

Speculation that a major bank would shift into a new 26-level high-rise office tower in Auckland has been dashed.

BNZ and Kiwibank have joined the other banks and cut mortgage rates.

The New Zealand dollar will probably hold around 75 US cents until next Thursday as traders wait for the Reserve Bank to say whether it will cut the OCR.

Sister banks ANZ and National have cut mortgage interest rates.

The New Zealand dollar may extend its losses this week as the cost of the Christchurch earthquake becomes clearer.

ANZ New Zealand says its plans to put the ANZ and National Banks onto one IT platform and restructure management by laying off 45 staff and establishing a new structure will cost it a total of $220m.

The New Zealand dollar has fallen to a near six-month low on a trade-weighted basis.

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

Several appeals have been launched to help Cantabrians following today's devastating earthquake. ANZ launched an appeal and announced it would make the first donation, $1 million.