Latest from Banking and finance

FMA chases estate of dead finance man
The market watchdog is targeting the estate of deceased director Terry Butler in its lawsuit against the former board of Dominion Finance.

PayTag use on rise as ASB joins trend
ASB has joined Westpac in offering the new PayTag service, which involves stickers attached to smartphones to speed up payments.

FMA targets estate of deceased director
The FMA is targeting the estate of deceased director Terry Butler in its lawsuit against the former board of Dominion Finance.

House values rise at 'eyewatering' pace
Auckland property values are picking up speed at an "eyewatering" pace, with some areas up 5pc in only three months, according to QV.

ANZ admits misleading conduct, settles for $18.5m
ANZ has admitted misleading conduct over interest rate swaps and up to 178 farmers will now have to decide whether to accept their share of $18.5 million from the bank.

ANZ pays out $19m to settle case
ANZ will pay $18.5m to some of its rural customers who complained about interest rate swaps after reaching a settling with the Commerce Commission.

Cake iced 'with my feelings'
A woman who baked a cake and iced it with foul language directed toward her old bosses says they are using the frosty dessert to end her career.

FMA prefers Hanover deal to trial
The FMA says it would prefer to settle its civil action against six businessmen associated with Hanover Finance, and its chief executive says he is "still hopeful" a deal can be reached.

Inflation right target: bank
Inflation is the right target for monetary policy, says Reserve Bank governor Graeme Wheeler, and has served the country well over the past 25 years.

Dairy payout below $5 a kg picked
Tomorrow will see the last GlobalDairyTrade auction before Fonterra releases its revised farmgate milk price forecast for 2014/15.

Police target more assets of jailed finance director
Police are targeting more assets associated with a businessman serving the longest prison sentence given to any failed finance company director.

RBNZ constrained in influencing long-term rates
The Reserve Bank's influence over long-term interest rates is limited by global investor activity, according to governor Graeme Wheeler.

Finance law reform focuses on investors
A once-in-a-generation overhaul of securities law will put the focus firmly back on investors.

Bridgecorp insurance bid rejected by court
A multi-million dollar insurance claim by Bridgecorp's receivers against Lloyd's Underwriters in London has been dismissed by the Court of Appeal.

Valuation jump paying for do up's
Auckland homeowners made wealthy by their latest Auckland Council valuations are borrowing to do up their houses.

FMA lawsuit a sign of things to come
New Zealand's market watchdog has for the first time stood in the shoes of out-of-pocket investors and exercised its right to sue for them.

Rates cut to help small firms - China bank
China's central bank said its surprise move to cut interest rates for the first time since 2012 is designed to help small firms.

China challenge tipped for big Aussie banks
Reserve Bank deputy governor Grant Spencer says the arrival of Asian banking giants is a watershed event that will boost competition and keep the dominant lenders "on their toes".

Beef prices continue to set records
Global dairy markets have plummeted but New Zealand beef prices have continued to hit record highs, while sheepmeat prices have stayed firm, Rabobank says.