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Troubled American bank CIT Group has cut a deal with its key bondholders for $US3 billion in financing that will allow the 101-year-old lender to avoid bankruptcy, according to the Wall Street…

Leading US investment bank Goldman Sachs has announced a surge in profits and quarterly earnings, and has set aside more than $US6 billion for salary, bonuses and benefits in the quarter.

British Prime Minister Gordon Brown has insisted his government has the right strategy in Afghanistan, after British military deaths surpassed the number of dead in the Iraq war.

A US judge has rejected a last minute request to delay the sale of the profitable parts of General Motors.

Computer systems of several government departments in the United States have been disrupted by a concerted cyber attack.

The US Treasury Department is warning the financial services industry that it will not back down from its proposal to create a new consumer protection agency.

Plan to replace courtrooms with video links; thousands of calls to helpline after swine flu-linked deaths; Treasury says there's no proof proposed boy racer laws will work.

Treasury officials advised the National-led Government that stopping contributions to the Superannuation Fund would not help the country's credit rating.

The National-led Government considered effectively cutting entitlements to the Working for Families tax credit and paid parental leave, according to official papers released on Friday.

Improved returns on investment funds have helped to bolster the Government's books, but the recession is keeping the accounts firmly in the red.

Friday's papers: ACC plans to hit owners of old cars with higher levies; private nine hole golf course for Russell Coutts reportedly built without proper consents; schoolboy completes Rubik's Cube in…

Official papers from the Ministry of Transport reveal it has concerns about the Government's involvement in developing rail in Auckland. Audio

The British economy contracted 2.4% in the first quarter of 2009. The decline is the worst in 51 years and is more severe than expected. Britain has now been in recession for a whole year.

A Northland Maori forestry scheme is being hailed as a success, despite needing a Government bail-out.

Treasury officials say the extra $35 million in the budget for private schools won't improve choice or educational outcomes.

Prime Minister John Key has rejected Treasury criticism of the Tourism Ministry for failing to find cuts to spending, saying he is likely to increase funding for this sector in coming months.

Government vetoed plan for $300 gift to every New Zealander; homes get 'dumb' electricity meters; Otago prison upgrade revealed.