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Cullen Delivers One Of His Last Political Aces -- Tax Cuts

By NZPA Political Reporters Wellington, May 22 NZPA - Finance Minister Michael Cullen has played what could be one of his last political aces and delivered tax cuts in his ninth budget today.

Dalziel Acts To Speed Up Finance Company Prosecutions

Criminal prosecutions against finance companies that have misled investors will be funded from the Securities Commission's litigation fund, Commerce Minister Lianne Dalziel said today.

Minister Moves To Speed Up Finance Company Prosecutions

Wellington, May 21 NZPA - Criminal prosecutions against finance companies that have misled investors will be funded from the Securities Commission's litigation fund, Commerce Minister Lianne Dalziel said today.

90-year-old Faces Losing Her Home Over Blue Chip Investment

Wellington, May 21 NZPA - Commerce Minister Lianne Dalziel this morning gave an impassioned plea for lenders owed money by people who invested in failed Blue Chip companies not to make demands until investigations are complete.

IMF Says NZ Faces Risks Over Addiction To Offshore Funding

Wellington, May 20 NZPA - The International Monetary Fund (IMF) has raised concerns about disruptions to New Zealand's access to offshore funding, but says its sound banking system and focus on inflation would help cushion the economy.

Expectations Of Lower House Prices Rise Dramatically: Survey

Wellington, May 20 NZPA - Expectations of lower house prices in the next year have increased dramatically, the latest ASB housing confidence survey shows.

National Yawns At `Re-Announcement' Of Shared Equity Scheme

Wellington, May 16 NZPA - National says the Government's shared equity housing scheme has been announced several times before, while ACT has dismissed it as an election-year bribe.

Budget To Put $35m Into Shared Equity Pilot

Wellington, May 16 NZPA - The Government will spend $35 million on a two-year shared equity pilot to assist up to 700 households into starter homes, Housing Minister Maryan Street said in a pre-budget announcement this morning.

Kiwibank Cuts Two-year Rate To Below 9pc

By Simon Louisson of NZPA Wellington, May 16 NZPA - Kiwibank today cut its key two-year mortgage lending rate for the second time in under a month. The state-owned bank cut its rate to 8.99 percent from 9.29 percent.

Cullen Says Budget Will Provide Economic Tonic

Next week's budget will deliver a mix of mild tax relief with investment and social spending as a tonic for the economic chills, Finance Minister Michael Cullen said today. Dr Cullen said his ninth budget would deliver a "real response" to the economic situation.

ASB Lowers Mortgage Lending Rates

Wellington, May 9 NZPA - ASB Bank today lowered some its key fixed mortgage lending rates after wholesale rates plunged yesterday following shock jobs data.

Another Retailer Feeling The Economic Squeeze

Wellington, May 9 NZPA - The Warehouse became the second major retailer this week to announce falling sales. While it is blaming at least part of its downturn on a warm start to autumn, like Briscoe Group on Wednesday it is also feeling the pinch from tight economic conditions.

Alarm Bells At Briscoes May Be General Warning For Economy

By Simon Louisson of NZPA Wellington, May 7 NZPA - Alarm bells ringing at bellwether stock Briscoe Group may be a general warning for the economy.

Even RB Getting Nervous As Economic Alarm Bells Ring

By Simon Louisson of NZPA Wellington, May 7 NZPA - Economists said today even the Reserve Bank is getting nervous as economic alarm bells start to clang louder.

Reserve Bank Moves To Shore Up Financial System Liquidity

Wellington, May 7 NZPA - The Reserve Bank is taking steps to shore up financial system liquidity in case of fresh turmoil on world markets, even though its latest measures may never be used.

Australian Budget Released

Mr Rudd attacked Opposition Leader Brendan Nelson and his treasury spokesman Malcolm Turnbull for downplaying the inflation challenge. Dr Nelson yesterday called the inflation challenge a "charade".

Alarm Bells At Briscoes May Be General Warning For Economy

By Simon Louisson of NZPA Wellington, May 7 NZPA - Alarm bells ringing at bellwether stock Briscoe Group may be a general warning for the economy.

Westpac NZ First Half Profit Rises 12 Pct Despite Market Wobbles

Wellington, May 1 NZPA - Westpac's first half net profit in New Zealand rose 12 percent to $244 million despite market volatility, but the bank predicted a decline in lending growth as the housing market slows.

NZF Profit Down But Revenue Up

Wellington, April 30 NZPA - NZF Group has reported a 44 percent drop in annual net profit to March. The finance company, which recently changed its name from New Zealand Finance Holdings, increased revenue by 17 percent to $45.8m.

Cutting GST On Food Would Be Complicated To Administer -- PM

Wellington, April 28 NZPA - Removing GST on food would make the system complicated to administer, Prime Minister Helen Clark says. She also said today that lowering GST across the board was not an idea that has been floated in discussions on tax relief.

Blue Chip Liquidator Says No Forced Mortgagee Sales Yet

Wellington, April 24 NZPA - The liquidator for Blue Chip property investment companies said that funders of investors' loans had not forced any mortgagee sales, although some letters of default had been sent out.

How Significant Is Dr Bollard's Use Of The Word `Significant'?

By Michael Daly of NZPA Wellington, April 24 NZPA - Just how significant is the word "significant"?

Kiwibank Slashes Two-Year Lending Rate After RB Statement

Wellington, April 24 NZPA - Kiwibank stole a march on its overseas-owned rivals today by slashing a key lending rate within an hour of the Reserve Bank saying it was keeping official interest rates unchanged.

RB Leaves Rates Unchanged But Bollard's Stance Seen As Softer

Wellington, April 24 NZPA - Reserve Bank Governor Alan Bollard left official interest rates unchanged today as expected, but his statement was seen as a softening of his hardline anti-inflation stance as he acknowledged the economy had slowed faster than anticipated.

OCR Left Unchanged Despite Economy Slowing Faster Than Expected

Wellington, April 24 NZPA - Reserve Bank Governor Alan Bollard has left the official cash rate (OCR) unchanged at 8.25 percent, as widely predicted, while acknowledging the economy has slowed faster than he expected.

Website For Personal Finance Launched

Wellington, April 22 NZPA - A news website on personal finance news has been rolled out by Wellington-based online publisher Digital Advance.

Credit Crunch Will Sock New Zealanders With Double Punch - KPMG

By Simon Louisson of NZPA

No Early Tax Cut, Cullen Indicates

Finance Minister Michael Cullen has given a strong indication that the Government's tax cuts won't start until April next year.

NZ Will Have To Swallow Sub-Prime Medicine -- KPMG Bank Survey

Wellington, April 22 NZPA - New Zealanders will feel the effects of the US sub-prime mortgage crisis as banks curtail lending, accounting firm KPMG said in its annual survey of the banking industry today.

Westpac Increases Bank Market Share In NZ But At A Cost - Survey

Wellington, April 22 NZPA - Westpac was the most active bank in this country in lending to the housing sector last year, but it sacrificed interest margin for market share, a survey out today showed.

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