The Reserve Bank should have waited for more data on the true impact of the earthquake and put a bit more faith in the resilience of the New Zealand economy.

A pale and exhausted Kara Hurring last night spoke of her isolation as she faces up to her fugitive past.

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

Sister banks ANZ and National have cut mortgage interest rates.

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.

Credit rating companies say there is no immediate need to change the credit ratings of insurers because of the Christchurch earthquake but Moody's Investors Service said ratings pressure may develop over time on the banking sector.

Kiwibank says half year profits fell 41 per cent as bad debt provisions more than doubled.

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

Nuplex Industries will pay $3m to shareholders as part of a settlement with the Securities Commission after failing to disclose it breached a debt covenant in 2008.

Decision to let banks go under looks smarter by the day, in contrast to Ireland's costly bailout, reports Yalman Onaran.

Stocks on Wall Street were mixed as investors awaited a fresh reason to extend the rally, while commodities including oil, gold and copper were boosted on hopes that Chinese demand would remain strong.

Is selling to foreigners the only way out?

Cellphone entrepreneur tries again, with venture targeting emerging markets.

Lending to customers at New Zealand's banks grew by a meagre 0.7 per cent in the second half of their financial year, a new report shows.