Obama nominates Janet Yellen to lead Fed

US President Barack Obama has nominated respected economist Janet Yellen to lead the Federal Reserve, replacing outgoing Chairman Ben Bernanke, who carried the central bank through the financial crisis.

• 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.