Banks are slashing their long-term mortgage rates, with customers tied up for longer periods likely to save thousands.

Claims that late Timaru businessman Allan Hubbard misled investors came as no surprise to those still waiting for money out of his collapsed financial empire.

Economists expect next to no inflation when the December quarter consumer price index is released on Friday.

The local market has been hotter than the mid-January sun for the past few weeks, writes Liam Dann. Market reports have been noting fresh five-year highs nearly every day.

The decline in mortgagee sales of residential properties has been interpreted by a bank economist as a welcome sign of an improvement in the economy.

The face of New Zealand business changed over 2012 with a series of senior appointments made to some of the country's top jobs.

Swiss banking giant UBS has agreed to pay $1.5b in fines for its role in trying to manipulate the key LIBOR interest rate.

Catriona MacLennan writes: "The Government will be making a serious mistake and missing a major opportunity if it disregards one of the key recommendations of the Expert Advisory Group on Solutions to Child Poverty."

Optimism among mid-sized Australian businesses has hit record highs in the lead-up to Christmas, a quarterly survey has found.

ANZ New Zealand - the country's biggest bank - has sold its eftpos terminal leasing unit, EFTPOS New Zealand, for an undisclosed sum.