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The White House says it is confident of Ben Bernanke's confirmation as Federal Reserve chairman for a second term.

The chairman of US bank Goldman Sachs has admitted to a hearing that financial innovation has put the US economy at risk.

China's city governments and ministries have been told to build more low cost housing and speed up construction to help ease property prices.

New Zealand could be pushed back into recession if banks move quickly to raise short-term or floating mortgage rates, an employer group believes. Audio

The US House of Representatives has approved what is described as the biggest overhaul of financial regulation since the 1930s Great Depression.

The US Federal Reserve chairman Ben Bernanke has defended the central bank's response to the global crisis, at a Senate committee sitting to consider his nomination for a second four-year term.

A report from the Organisation for Economic Cooperation and Development warns New Zealand's economic recovery could yet be hampered by private debt, the high dollar and rising unemployment.

The Marshall Islands government is considering how to reduce its spending. This comes as the Government tries to find another nine million US dollars a year to put into the...

Building products and construction firm Fletcher Building says it has yet to see a significant recovery in demand, and is unlikely to experience a major recovery in trading until 2011.

The Reserve Bank has warned it expects to see more finance companies go under as they struggle to cope with the consequences of the recession.

Companies in the United States that benefited from billions in government aid during the global financial crisis are being ordered to cut the pay of some of their top executives.

International Monetary Fund researchers think New Zealand banks have weathered the international economic storm well.

The US banking industry has delivered more positive earnings surprises, as Goldman Sachs and Citigroup posted better-than-expected results.

The Reserve Bank of Australia has increased the official cash rate for the first time in 19 months. The bank lifted the rate by 25 basis points to 3.25%.

American credit rating agencies are facing greater scrutiny from US Securities and Exchange Commission.

US President Barack Obama has warned bankers against complacency, saying that some in the industry are ignoring the lessons of the financial crisis.

The world's central bankers believe the worst of the global economic downturn is over, according to Reserve Bank Governor Alan Bollard, though the New Zealand economy remains in uncertain territory. Audio

The number of visitors from Australia rose 20% in July compared with the same month a year ago, helping offset a lower number of people from Europe and Asia choosing to visit the country. Audio

Central and local government are developing a comprehensive plan to deal with the leaky homes crisis in New Zealand.

US Federal Reserve chairman Ben Bernanke has cautioned that unemployment is likely to remain high even when the United States emerges from recession some time in the next few months.

Violent protests in South African townships spread on Wednesday, piling pressure on President Jacob Zuma to deliver on government promises of help for the poor three months after elections.

Westpac has begun advertising mortgages to homebuyers with deposits of less than 20%.

The chairman of the US Federal Reserve has been accused of using bullying tactics against executives of America's biggest bank. He has denied the Fed had put pressure on Bank of America to takeover…