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The country's registered banks have been accused of overcharging 1 million kiwis to the tune of $1 billion in default fees claimed by lenders over the past six years and face what's being billed as New Zealand's biggest class action. A fixed float is where a country's governing body sets its currency's relative value to other currencies, often by pegging it to some standard. The investment firm has flagged earnings before interest, tax, depreciation, amortisation and changes in fair value (ebitdaf) will be between $530 million and $560 million in the 2013 financial year, up from $520.2 million a year earlier.

The Wellington-based firm wrote down the carrying value of the Glasgow Prestwick and Kent airports by 22.2 million pounds, which will be reflected in the first-half net profit, the company said in a statement. Auckland-based lawyer Andrew Hooker, Australian consumer law firm Slater & Gordon and Litigation Lending Services, a litigation funding firm, are seeking plaintiffs to join a class suit against New Zealand's registered banks to reclaim fees charged when customers overdraw their accounts, pay credit card bills too late, or bounce a cheque.

The New Zealand action comes after a similar suit across the Tasman, where Australia & New Zealand Banking Group is being treated as test case NZCity gives users the following options for removing their information from our database to not receive future communications or to no longer receive our service. The most important information to look for in this description is the currency pair involved, the time of the event, and the expected impact on the market.

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