Credit rating companies say there is no immediate need to change the credit ratings of insurers because of the Christchurch earthquake but Moody's Investors Service said ratings pressure may develop over time on the banking sector.

An ASB Bank economist says she expects Reserve Bank governor Alan Bollard to cut the official cash rate by 50 basis points to 2.5 per cent in part due to the economic impact of the Christchurch earthquake.

Kiwibank says half year profits fell 41 per cent as bad debt provisions more than doubled.

Nuplex Industries will pay $3m to shareholders as part of a settlement with the Securities Commission after failing to disclose it breached a debt covenant in 2008.

The kiwi dollar plunged nearly one US cent after today's Christchurch earthquake.

Decision to let banks go under looks smarter by the day, in contrast to Ireland's costly bailout, reports Yalman Onaran.

No one likes to hear the name of his bank and the phrase "possible credit rating downgrade" in the same sentence.

Stocks on Wall Street were mixed as investors awaited a fresh reason to extend the rally, while commodities including oil, gold and copper were boosted on hopes that Chinese demand would remain strong.

Cellphone entrepreneur tries again, with venture targeting emerging markets.

Lending to customers at New Zealand's banks grew by a meagre 0.7 per cent in the second half of their financial year, a new report shows.