Costamare told investors it purchased secondhand container ships, including the Rena, at a good time and is making a yield of 32 per cent on them.

New Zealand needs to avoid a costly regulatory over-reaction to the Christchurch earthquakes, says Reserve Bank Governor Alan Bollard.

Stocks and the euro sank as comments by Germany's finance minister doused hopes a summit later this month would resolve Europe's debt crisis.

Support will be needed from tech firms to bring this unique, ambitious project alive.

Anyone hoping for a weekend fix to the global banking sector will have to wait a little longer - perhaps a lot longer.