Herald deputy business editor Grant Bradley, who has visited the Pike River mine and covered the company for the Business Herald, on why today's receivership move by Pike River was inevitable.

As the West Coast struggles with the emotional cost of the Pike River tragedy, chairman John Dow has reassured the community there is still a future for the mine and the company.

The New Zealand dollar slowly recovered yesterday after it fell to its lowest level against the greenback in nearly four weeks overnight after a shelling exchange on the Korean peninsula added to the US currency's appeal as a safe haven.

Kiwibank has cut its 2 year fixed mortgage rate to 6.59pc, to try and spice up housing demand.

New property developers are finding it harder to get bank funding.