Standard and Poor's has downgraded the credit ratings of the big four Australian banks and their New Zealand units by one notch, as part of its global review of bank ratings.

Standard & Poor's has cut the credit ratings of 15 of the world's biggest banks - mostly in Europe and the United States - in the first wave of actions under its new, tougher, ratings criteria.

Chorus, now officially demerged from Telecom, has just secured a $1.35b bank facility. Photo / Supplied

Optional feature on Air NZ's new Airpoints cards could revolutionise the travel industry.

The world is really struggling to deal with the consequences of 30 years of debt profligacy...

A poll for the Michael Fay-led consortium trying to buy the Crafar farms shows an "overwhelming desire for the govt to stop in and stop the sale" to the would-be Chinese buyer, Pengxin International.

"Believe it or not there's a lot of money out there," an authorised financial adviser (AFA) told me in a carpark conversation last week...

Start-up aims to make it easier and cheaper to move money.

Kerry Stokes is among the foreigners backing a giant Chinese bank. Whether that bet pays off matters not just for him, but for the global economy.