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The New Zealand dollar is continuing its strong rise, prompting concerns that it may endanger the economy's recovery. The currency peaked at just under 66 US cents overnight on Tuesday. Audio

Official papers reveal the Government proceeded with plans to appoint purchase advisers - some being paid as much as $2,000 a day - despite the misgivings of the State Services Commission. Audio

Cabinet papers about a decision to put the NZ Aid back under Foreign Affairs Ministry control, show the Treasury believed it would be less risky to instead change the agency's objectives.

General Motors and the US Treasury have improved their offer to GM's bondholders, as they prepare for the company's move into bankruptcy protection.

All-night talks in Berlin about the future of Opel and Vauxhall have broken down without reaching a decision about who should buy GM's European unit.

Markets around the world were mixed in the day's trading, with the US, Australia and New Zealand down but European and Japanese equities up.

Germany has hit out at the attitude of the US government and of General Motors over the plight of its German unit Opel after all-night talks in Berlin on saving the car maker.

Treasury has changed its rules for identifying fiscal risks.

A ministerial adviser hired to find savings in Government spending is dismissing criticisms of his daily pay rate as political posturing. Audio

The Public Service Association says there is a growing trend for the Government to bypass the public service for advice.

Prime Minister John Key hinted on Monday that the Budget will include greater-than-expected spending cuts. He is confident New Zealand's credit rating will not be downgraded.

The American Samoa quarter coin is set to be publicly released in late July in a ceremony to be held in Pago Pago. Governor Togiola Tulafono says he has been...

The US Treasury is to give $US7.5 billion in further state aid to GMAC, to help the finance group offer loans to potential Chrysler and GM car buyers.

Stocks in the United States fell for a fourth day on Friday amid persistent worries about the US budget deficit. Volume was light on the NYSE due to the Memorial Day holiday weekend.

Britain's economy shrank at its sharpest quarterly rate since 1979 in the first three months of the year, with household spending falling at its fastest rate since 1980.

A Senator in the United States is trying to find a way to give Chrysler car dealers more time to unload their inventories before they have to close.

Financial institutions in the United States are to repay $US25 billion of bail-out funds over the next year.

Treasury Secretary John Whitehead has urged the Government to show in next week's Budget how debt will be reduced over time, otherwise the country risks a downgrade by ratings agencies.

US President Barack Obama has named the Republican governor of Utah to be the next US ambassador to China, a pivotal post in relations between the United States and a major emerging economic power.

The head of the Treasury on Friday warned of lurking threats to economic recovery and emphasised the need to bring rising debt under control - or risk a costly credit downgrade.