Is the first home scheme too good to be true?

On Tuesday the Government announced an initiative called "first home", aimed at provincial first home buyers.

• Sustainable City Showcase kicks off

  The Sustainable City Showcase kicks off today at the Cloud on Auckland's Queens Wharf.

• Mobile security going ignored - report

  A new report on cybercrime shows there's generally a lack of security awareness when we go online on the move.

• Wall Street slips as debt deal falters

  The White House has rejected a proposal from Republicans to raise the debt ceiling and reopen the federal government.

• Experts warn Kiwis can't ignore Chinese language

  A China expert is warning New Zealanders that they are ignoring the Chinese language at their own peril.

• Strong recovery in UK, Europe

  Europe is showing signs of recovery, especially the UK.

• Wall Street waits on debt ceiling decision

  Wall Street continues to drift aimlessly as investors keep hoping for a positive outcome from the talks going on in Washington.

• Former Lane Walker Rudkin boss admits fraud charges

  The man whose company kitted out the country's top rugby stars could face more than a decade in jail after admitting fraud charges.

• Tax system punishes KiwiSaver users a FSC

  A group representing the retirement industry is calling on the Government to lower taxes on KiwiSaver earnings.

• Labour: First-home buyers 'hammered' by loan changes

  A new report has revealed the first-home buyer market has collapsed as a result of strict new rules around low-deposit loans.

• Dire consequences loom if debt deal fails

  It could be a volatile week ahead for world markets, with US lawmakers still trying to come up with a deal to lift the US debt ceiling.

• Rich students flock to central London

  The financial crisis has seen the number of financial workers renting in central London diminish.

• NZ flower growers squeezed by foreign imports

  There are growing calls to label cut flowers with their country of origin.

• Haast landslide affects Wanaka tourism

  Wanaka tourism operators are counting the cost of massive slips, which have closed the road between Haast and Otago for much of the past month.

• World wants solution as US deadlock continues

  There are urgent talks going on but no solution to the budget deadlock and looming American debt crisis.

• UK's Royal Mail valued at A3.3bn

  Britain's Royal Mail will be valued at STG3.3 billion ($NZ6.4 billion) when it launches on the stock market in a controversial part-privatisation.

• Independent Fisheries to lay off hundreds

  As many as 200 jobs could be axed as Independent Fisheries looks to close its Woolston processing plant.

• MRP shares up on buyback plan

  Mighty River Power shares have lifted after the company announced it will buy back up to $50 million of its own shares.

• DC thaw sees Wall St rebound

  The thaw in relations between the two sides In Washington DC has seen stocks rise on Wall Street.

• Mighty River buys back its shares

  The Government sell-off of Mighty River Power took yet another twist today.

• Reserve Bank changes may impact building rates

  The Reserve Bank has revealed that more than 4000 fewer houses could be sold a year as a result of its new mortgage lending limits.