As per the media reports, Redpaths Furniture, the furniture store with shops in Auckland and Hamilton, has been fined a sum of $28,000 and instructed to pay court costs of $3640 at a hearing at Manukau District Court.

It has been learnt that the well known furniture store company was found guilty to 28 charges of breaching the Fair Trading Act by providing misleading information to customers.

The Commerce Commission brought the charges, which relate to the information Redpaths supplied customers about savings they would make by buying goods on sale.

Large amount of disappointment is going to come in the lap of thousands of investors in two frozen ING funds, who were expecting the Securities Commission might investigate what some claim was misleading marketing of the funds a few years ago. 

A minor decrease in the flat interest rates and in the median house price aided in reducing the proportion of after-tax pay needed to service a mortgage on a median home to 55.9 percent in May from 56.4 percent in April

The latest BNZ home loan affordability survey complied by Interest.co.nz presents the above mentioned fact.

In the month of March last year, home loans were most unaffordable when they took 83.4% of after-tax pay to service.

If adhered to the boss of telecom major Orcon then soon the days of improving broadband price, speed and service may be a long lost call after the release of conditions for sub-loop unbundling.

Scott Bartlett, chief executive of Orcon confirmed that a sub-loop determination from the Commerce Commission today failed to protect the interests of broadband consumers. 

As an alternate, it took for a pricing structure that inevitably would lead to market domination by a single player.

On Monday, New Zealand's biggest electricity and gas distributor Vector Ltd, announced that it hoped to see full year operating earnings and profit to match or better the expectations of market.

The company confirmed that it was cautiously optimistic that it would be "comfortably" in or above the range of most analysts' forecasts, in spite of the challenging economic conditions.

The latest reports confirm that retailers have purchased a record low number of goods, and for lower prices from the Wholesalers.

Statistics New Zealand figures show, seasonally adjusted wholesale trade sales declined in the March quarter a record of 5.9%, in the December quarter more than double the previous largest fall of 2.5%.

All wholesaling industries witnessed drop, with the largest decrease in sales coming from petroleum products, which plunged a record 17%.