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NZ resident fights rates charges
New Zealand resident Darrell Read is fighting charges from Britain's Serious Fraud Office that allege he was part of an international rates rigging scheme.
New Zealand resident Darrell Read is fighting charges from Britain's Serious Fraud Office that allege he was part of an international rates rigging scheme.
The New Zealand dollar rebounded after touching a fresh two-and-a-half year low as investors sold US dollars
Commonwealth Bank of Australia and its three main rivals may need as much as A$30 billion ($32.4 billion) in fresh capital.
Australian banks should be forced to hold more capital to minimise their risk of failure and improve competition, the Financial System Inquiry has found.
Middle-aged home buyers face being locked out of the property market because banks are worried they are too old to pay off their mortgage before they retire.
The contrast in fortunes this week between two parts of New Zealand could not have been starker.
Auckland property values are picking up speed at an "eyewatering" pace, with some areas up 5pc in only three months, according to QV.
ANZ has admitted misleading conduct over interest rate swaps and up to 178 farmers will now have to decide whether to accept their share of $18.5 million from the bank.
ANZ will pay $18.5m to some of its rural customers who complained about interest rate swaps after reaching a settling with the Commerce Commission.
A woman who baked a cake and iced it with foul language directed toward her old bosses says they are using the frosty dessert to end her career.
The Reserve Bank's influence over long-term interest rates is limited by global investor activity, according to governor Graeme Wheeler.
Auckland homeowners made wealthy by their latest Auckland Council valuations are borrowing to do up their houses.
China's central bank said its surprise move to cut interest rates for the first time since 2012 is designed to help small firms.
Reserve Bank deputy governor Grant Spencer says the arrival of Asian banking giants is a watershed event that will boost competition and keep the dominant lenders "on their toes".
Global dairy markets have plummeted but New Zealand beef prices have continued to hit record highs, while sheepmeat prices have stayed firm, Rabobank says.