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While you were sleeping: US holiday sales disappoint

Shares of retailers including Sears and Saks led Wall Street lower as shoppers kept a lid on spending amid concern about the impact of the so-called fiscal cliff as the year-end deadline draws ever closer. A measure of American holiday sales showed consumers are reluctant to take advantage of the holiday sales. Data from MasterCard Advisors SpendingPulse showed that holiday-related …

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Antitrust regulator cuts deal with Bluestone over early repayment fees

he Commerce Commission has cut a deal with Australian lender Bluestone Mortgages NZ over the fees charged on early repayments after a High Court ruling this year narrowed the regulator’s scope to pursue a claim. The regulator settled with Bluestone, Trustees Executors and TEA Custodians (Bluestone) over deferred establishment fees, which were charged when a client repaid a loan within …

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