Air New Zealand has begun hiring new cabin crew - but is not offering jobs to any of the flight attendants made redundant in last year's downturn.

The opening of Europe's financial markets tonight will unleash a battle that may decide the fate of the single currency.

The NZ sharemarket's benchmark index fell to a two-month low today as the escalating debt crisis in Europe stoked fears of a new credit crunch.

Almost half NZ's chief executives received pay rises last year despite the worldwide recession and many workers enduring salary freezes.

France's €5 billion rogue trader says his losses should be blamed on a world banking industry "disconnected from reality".