The Financial Markets Authority's says its patience with businesses in the sector resisting change is wearing thin.

The dairy cooperative, Fonterra, is set to take further hefty losses in the Chinese infant formula manufacturer Beingmate as it moves to reduce its stake.

The country's number three retail bank, ASB, has posted its ninth consecutive record profit as its margins have shrunk and it's finding business more subdued.

A brief update of movements in the financial sector.

News from the business sector, including a market report.

A brief update of movements in the financial sector.

News from the business sector, including a market report.

For the latest from the markets we're joined by Kyle Edmonds from Jarden Securities.

Television's days may be numbered as the catchall word for catching up on the latest in news, entertainment and sport in the home.

Westpac Bank will refund 1-point-3-million-dollars to around 60-thousand customers, after identifying another issue with its discounting.