ANZ is weighing up whether to launch action in Korea to try to get $8 million from property investor Danny Chung and his wife.

Australian home loan approvals have fallen for the first time this year, but economists expect the housing sector to strengthen in the months to come.

Westpac has confirmed it is withdrawing mortgage pre-approvals for some customers following the introduction of the Reserve Bank's new lending restrictions.

ANZ Bank has defended its penalty fees as fair, saying they reflect extra services provided to customers whose accounts require attention over and above their banking contract.

National property prices rose by $10,000 in September, taking the median house price back to a record high reached earlier this year.

The number of first home buyers in the market since the introduction of new Reserve Bank mortgage restrictions last month has plummeted, real estate agents are reporting.

Kiwibank has apologised to all customers affected by a privacy breach at the Greymouth branch.

New Zealand property values rose at an 8.4 per cent annual pace last month ahead of the introduction of low-equity home lending restrictions,

A bankrupt property developer allegedly used fronts and false information to borrow more than he otherwise could have as part of a $50 million loan scheme, a court has heard.

US Treasury Secretary Jacob Lew has issued a categorical warning that the United States will default on its US$16.7 trillion debt.

The Government's deficit shrank to $4.4 billion in the year to June, the smallest it has been for four years.

After having its "for sale" sign removed when it almost collapsed this year, state-owned coalminer Solid Energy will be partially privatised in a restructuring deal.

Property asking prices around the country have reached a record high, with a shortage of houses on the market helping to fuel demand.

First-home buyers in the provinces will be given a subsidy of up to $20,000 to move into vacant state houses, Housing Minister Nick Smith announced today.

"The plan is hatched and sounds sensible,'' New Zealand's Darrell Read told Tokyo trader Tom Hayes - an alleged co-conspirator in the Libor rates rigging scandal

The Reserve Bank's new mortgage lending restrictions come into force today, restricting the number of high loan-to-value ratio mortgages banks can lend.