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CORRECT: Professional service firms gain $475k of $18 million Hanover Finance settlement
(Fixes ASIC budget in final paragraph) By Fiona Rotherham Oct. 11 (BusinessDesk) - Professional service fees of $475,000, the bulk of which went to Deloitte, has been paid out to help distribute the $18 million settlement reached last year between the Financial Markets Auth...
NZ dollar drops below 71 US cts as RBNZ's McDermott keeps rate cut plan intact
By Paul McBeth Oct. 11 (BusinessDesk) - The New Zealand dollar fell below 71 US cents for the first time in two months as Reserve Bank assistant governor John McDermott reaffirmed the bank's intention to cut interest rates further. The kiwi dropped to 70.69 US cents at 5pm...
RBNZ's McDermott affirms rate cut bias to stoke moribund inflation
By Paul McBeth Oct. 11 (BusinessDesk) - The Reserve Bank still expects to cut interest rates further to try and stir inflation that's been kept low by a weak global economy, though the bank isn't concerned that consumer prices will start falling, says assistant governor John M...
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