In a history-making selection, US President Barack Obama nominated Janet Yellen to be chairman of the Federal Reserve.

More than 30pc of New Zealand businesses have reported optimism in the latest Quarterly Survey of Business Opinion - the highers level since March 2010.

On Oct 17 the US faces its first-ever default on its $16.7 trillion debt - something that could plunge the nation - and the world - into a crisis worse than 2008.

A two-week US govt shutdown could cut 0.25 percentage points off fourth-quarter economic expansion, says one top Federal Reserve official.

Real estate companies are at odds over whether the introduction of lending restrictions has affected the property market.

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

Will new low deposit loan rules make it tougher for people to buy, grow and fund small business?