Auckland International Airport says it is spending $166m on a 24.55pc stake in the company that owns two airports in Queensland.

NZ's big four Australian-owned banks and the IRD have announced a settlement of their disputes over structured finance deals.

The economists at Westpac have spotted a clear downward trend in expenditure on gifts.

Some of the tax changes under consideration would reduce house prices and raise rents, says Westpac.

Westpac's runaway millionaires are a step closer to keeping the cash after the bank bungled an attempt to recover it.

In a move that reverses changes during the 1990s, Westpac is opening 10 new community branches in Auckland.