Soaring wholesale power prices last week have prompted complaints from 14 organisations, including ASB bank, Telecom, Vodafone and the owner of the Marsden Point oil refinery.

Affinity Equity Partners, the private equity firm that owned the now in-receivership retailer Colorado Group, has been given clearance to buy Tegel Foods.

The New Zealand dollar may fall this week, after Federal Reserve board members hinted that the US economy is recovering enough to end extraordinary support measures.

ASB has announced a $250 million package to help stimulate the city's economy, local businesses and community groups, the bank's chief executive Barbara Chapman said.

A $250 million investment programme by ASB to support businesses and people in Christchurch is to be announced this morning.

New Zealand avoided a double-dip recession last year, with latest GDP figures showing economic growth of 0.2pc in the December 2010 quarter. Manufacturing activity drove the expansion, up 2.5 per cent.

The number of house sales in Auckland bounced back from January's slump, with new listings returning to more normal levels.

BNZ and Kiwibank have joined the other banks and cut mortgage rates.

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.

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.

Just 6 per cent of investors think shares offer the best rate of return, while rental property is still a popular investment, according to a survey by ASB.

Think it's all good down on the farm? Think again. Property values are plunging, and the crisis could yet hit the cities too, reports Karyn Scherer.