http://www.nzherald.co.nz/ Latest Personal Finance headlines from nzherald.co.nz en-nz Copyright 2010 APN HOLDINGS NZ Fri, 03 Sep 2010 18:00:03 +1200 http://blogs.law.harvard.edu/tech/rss APN RSS Generator webnews@nzherald.co.nz webmaster@nzherald.co.nz http://www.nzherald.co.nz/images/nz_little_logo.gif http://www.nzherald.co.nz/personal-finance/news/headlines.cfm?c_id=12 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670867&ref=rss The average New Zealander is spending $45 less a week than they were before the recession in a bid to wipe out debt and inject equity back into their homes - a move which is hurting retailers.NZIER principal economist Shamubeel... newsfeeds@nzherald.co.nz Fri, 03 Sep 2010 13:43:52 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670686&ref=rss Questions need to be asked of the former management of failed company South Canterbury Finance, says the Shareholders Association.Des Hunt, Shareholders Association corporate liaison director, said there was concern with activities... newsfeeds@nzherald.co.nz Fri, 03 Sep 2010 05:30:20 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670681&ref=rss Bad loans to bars, hotels, furniture makers, property investors and even a state house builder wiped out at least $100 million from South Canterbury Finance.Companies Office records show a group of failed companies owe SCF but... newsfeeds@nzherald.co.nz Fri, 03 Sep 2010 05:30:00 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670649&ref=rss Prices in dairy co-operative Fonterra's online auction bounced back strongly yesterday with the world feeling the effect of a Russian wheat export ban.The average price of a basket of products increased by 16.9 per cent, having... newsfeeds@nzherald.co.nz Fri, 03 Sep 2010 05:30:00 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670611&ref=rss Customer satisfaction with the big five banks improved during the year to June, but smaller rivals Kiwibank and TSB remain at the head of the pack, a survey shows.TSB led the field with a satisfaction level of 89.4 per cent in... newsfeeds@nzherald.co.nz Thu, 02 Sep 2010 14:27:50 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670513&ref=rss Never mind the cow cockies - South Canterbury and Allan Hubbard were sunk by glitzy property investments including some in upmarket Auckland bars and nightclubs.New information shows Auckland's nightlife cost the failed finance... newsfeeds@nzherald.co.nz Thu, 02 Sep 2010 05:30:20 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670519&ref=rss A notoriously shrewd businessman has emerged as the frontrunner to buy South Canterbury Finance after the failed finance company's chief executive, Sandy Maier, was spotted on an Air New Zealand flight leafing through a sale and purchase... newsfeeds@nzherald.co.nz Thu, 02 Sep 2010 05:30:00 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670516&ref=rss South Canterbury is reeling after the finance company of the same name collapsed into receivership, but there are hopes that the flipside will be a mini-boom for the local economy.With South Canterbury Finance in the hands of... newsfeeds@nzherald.co.nz Thu, 02 Sep 2010 05:30:00 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670510&ref=rss The Government's $1.78 billion payout to South Canterbury investors is more than it spends each year on police or the ACC.But Finance Minister Bill English doesn't expect further big calls on the Government's retail deposit guarantee... newsfeeds@nzherald.co.nz Thu, 02 Sep 2010 05:30:00 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670482&ref=rss South Canterbury Finance's "bad bank" was in a desperate last-ditch race for cash, tumbling a string of property and business empires as it entered its death throes.SCF's receivership pitched at least 20 other companies into receivership... newsfeeds@nzherald.co.nz Thu, 02 Sep 2010 05:30:00 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670478&ref=rss While debenture investors in South Canterbury Finance will be breathing a sigh of relief with both their principal and interest guaranteed the shareholders of the failed company are likely to lose everything.The finance company... newsfeeds@nzherald.co.nz Thu, 02 Sep 2010 05:30:00 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670461&ref=rss Retail banks could be the winners as $1.6 billion in South Canterbury Finance funds flow back to debenture investors.Hamilton Hindin Greene client adviser James Smalley said for those investors for whom South Canterbury Finance... newsfeeds@nzherald.co.nz Thu, 02 Sep 2010 05:30:00 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670386&ref=rss Could South Canterbury Finance (SCF) investors use their NZ$1.6 billion of immediate cash repayments from the government to invest in property?Real estate agency First National has suggested many investors may choose to invest... newsfeeds@nzherald.co.nz Wed, 01 Sep 2010 12:57:00 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670276&ref=rss The Government yesterday paid $1.775 billion - or $405 for every man woman and child in New Zealand - to take control of failed moneylender South Canterbury Finance's assets.It has bought out all its investors and debenture holders.South... newsfeeds@nzherald.co.nz Wed, 01 Sep 2010 05:30:20 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670285&ref=rss South Canterbury Finance ramped up its risky real estate loans after it signed up to the Government's scheme that protected its investors' money, the company's chief executive Sandy Maier said last night.SCF went into receivership... newsfeeds@nzherald.co.nz Wed, 01 Sep 2010 05:30:18 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670282&ref=rss Watching John Key and Bill English dispose of South Canterbury Finance yesterday was a bit like watching a python swallowing an antelope.Except it all happened a lot quicker.The Prime Minister and the Minister of Finance must... newsfeeds@nzherald.co.nz Wed, 01 Sep 2010 05:30:00 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670273&ref=rss For most New Zealanders, only one question about South Canterbury Finance matters - why am I liable for this mess?This was a big question in April when the Government bent over backwards to ensure the company was allowed into... newsfeeds@nzherald.co.nz Wed, 01 Sep 2010 05:30:00 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670247&ref=rss A private equity fund associated with rich-lister businessman George Kerr is to receive a $100 million taxpayer-funded payout from the Government in order to make the receivership of South Canterbury Finance run more smoothly.Kerr's... newsfeeds@nzherald.co.nz Wed, 01 Sep 2010 05:30:00 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670245&ref=rss News of South Canterbury Finance going into receivership failed to put a serious dampener on the New Zealand stock exchange yesterday, with it outperforming markets overseas.The NZX 50 closed down 0.7 points at 3026.10, recovering... newsfeeds@nzherald.co.nz Wed, 01 Sep 2010 05:30:00 +1200 http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10670242&ref=rss Minimising disruption to the economy is one of the Government's declared objectives in the South Canterbury Finance affair.Finance Minister Bill English was at pains to stress yesterday the need to avoid a fire sale of assets.It... newsfeeds@nzherald.co.nz Wed, 01 Sep 2010 05:30:00 +1200