Standard & Poor's has lowered New Zealand's credit rating one notch to AA. The ratings agency says it's because of the country's high external debts and the cost of rebuilding after the Christ Church earthquake. In a statement, Standard & Poor's says the move follows an assessment of the likelihood that New Zealand's external position will deteriorate further. It came just hours after the Fitch Ratings Agency issued a similar downgrade. 

 

Shoppers are being warned they could be charged a new fee when using eftpos at the cash register from today. Retailers will have to pay a small fee for every purchase of 15 dollars plus paid with a credit card. Consumer group Choice says the cost is so small that there is no need for retailers to pass it onto consumers. 

 

To the market numbers, local shares finished flat, marking the biggest quarterly falls since the Lehman Brothers collapse three years ago. Japan's Nikkei also finished the season flat, elsewhere in the region, markets are weaker. European stocks have slid on doubts about the effectiveness of another eurozone bailout fund. In the US markets ended down. The Dow Jones lost 241 points.