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Global markets continued to see-saw after the Federal Reserve's massive bailout of insurance giant AIG failed to calm a crisis of confidence, leaving banks scared to lend to each other.

Global stocks tumbled and oil prices plunged on Monday as United States investment bank Lehman Brothers filed for bankruptcy. Investors bailed out of risky assets, fearing the credit crunch may…

A Housing Relocation Committee member in Solomon Islands' Gizo, says MP, Gordon Darcey Lilo, is withholding funds earmarked for the 2004 tsunami victims. It's estimated that eighty percent, or…

The Papua New Guinea Government is seeking interest around the world as it tries to secure funding for its share of the ten billion dollar liquefied natural gas project. An...

Global shares rallied on Monday after the United States government announced on Sunday it is taking over the Freddie Mac and Fannie Mae mortgage lenders. Audio

The New Zealand dollar has fallen against the United States dollar after a takeover of the Freddie Mac and Fannie Mae mortgage companies by the US Treasury.

The Treasury says the New Zealand economy faces a third quarter of contraction, but maintains growth will return by the end of the year.

Markets in Asia and the Pacific reacted positively on Monday to news that the United States government will bail out troubled mortgage giants Fannie Mae and Freddie Mac. The federal takeover is one of…

Freddie Mac and Fannie Mae reportedly face being put under federal government control in an attempt to rescue them. The two agencies lost a combined $US3.1 billion between April - June.

Wall Street had its steepest fall in more than two months on Thursday, as more signs of weakness in the US labor market and increasingly sluggish growth overseas fueled a fierce sell-off.

The National Party's deputy leader Bill English has told a business election forum it will be difficult to slow the increase in government spending.

In American Samoa, four employees of the Attorney General's Office have been arrested and charged with a number of offences including stealing, forgery, embezzlement conspiracy to commit stealing and…

Auckland Mayor John Banks says the Government needs to act faster to get New Zealand's most expensive roading project built.

A Papua New Guinea politician has criticised an Australian company for flying out an employee involved in a car crash which seriously injured a young girl. The Morobe Governor, Luther...

Shares in US mortgage finance agencies Freddie Mac and Fannie Mae are at their lowest levels in nearly two decades. A federal bailout is feared.

US stocks sank on Monday as the prospect of more losses from the mortgage crisis hurt the shares of banks and the two biggest home finance providers.

New Zealand is in recession, but economic activity should pick up at the end of the year, according to the Treasury.

DNA blunder forced the abandonment of double murder "cold case" in Victoria; Treasury chief urges cuts in company taxes and capital gains taxes; false media reports over health of Prince Phillip.

Turkey's highest court has rejected an attempt to shut down the governing AK Party but imposed financial penalties on it for anti-secular activities.

Finance Minister Michael Cullen says the Government's deficits are expected to rise. Cash deficits of around $3.5 billion a year over the next four years were forecast in the Budget.