A review of things you need to know before you go home on Monday: Retail spending up, Chinese company grabs slice of T&G, CEOs resign at Southern Cross Healthcare and Pengxin NZ Farm, Geneva Finance ups profit - announces dividend

Here are the key things you need to know before you leave work today.

TODAY'S MORTGAGE RATE CHANGES
There were no mortgage rate changes today.

TODAY'S DEPOSIT RATE CHANGES
TSB has reduced a range of term deposit rates by 10 basis points. It's new 6 month rates are 3% for amounts over $10,000 and 2.9% for amounts between $5000 and $10,000; the new 9 month rates are 3.05% for amounts over $10,000 and 2.95% for amounts between $5000 and $10,000; the new 1 year rate is 3.1% for amounts over $10,000, and 3.0% for amounts between $5000 and $10,000. Kiwibank has increased some rates and cut others. Its 1 year rate is down 5 basis points across all deposit amounts and its 1 year term PIE has also dropped by 5 basis points to 3.3%; its 6 month PIE term rate is up 30 basis points to 3.4%. Kiwibank has also introduced a 6 month special rate of 3.4%.

RETAIL SPENDING UP IN JUNE 
Retail spending rose 1.2% in June compared to May on a seasonally adjusted basis, according to Statistics NZ. That latest rise comes after a 0.3% decline in retail sales in May. Statistics NZ said June was the first month since March last year when all six retail industries had increases in spending. The biggest increases were in durables (including furniture, appliances and hardware) up 1.4%, fuel up 2.8% and hospitality up 1.5%. The total value of electronic card spending was up 1% in June, following a 0.6% decline in May. 

WESTPAC CUTS INTEREST-ONLY BORROWING TERMS BY TWO-THIRDS
Westpac is reducing interest-only borrowing terms to a maximum of five years, down from 15 years, BusinessDesk reports. Simon Power, the general manager of Westpac's consumer bank and wealth, said the change was to make sure the bank's lending and risk profile reflects what's happening in the market, and to make sure borrowers are comfortable with their own repayment capacity.

CHINESE FRUIT EXPORTER TAKES NEAR 20% STAKE IN T&G GLOBAL
Chinese company Golden Wing Mau Agricultural Produce has built up a 19.99% stake in fruit exporter T&G Global. That makes the Chinese firm the second biggest shareholder in T&G, behind Germany's BayWa with 73%. Golden Wing paid an 18% premium for the shares, buying them at $2.95 each compared to their market value of $2.50.

GEOOP SHARES JUMP AS IT BEATS FORECAST 
Shares in NZAX-listed app maker GeoOp jumped 11% after the company announced it's annual revenue had beaten the forecasts in the independent adviser's report on its merger with Australian app developer InterfaceIT.

CEOs RESIGN AT SOUTHERN CROSS HEALTHCARE AND PENGXIN NZ FARM GROUP
Southern Cross Health Society CEO Peter Tynan has resigned after 12 years in the role. He will remain in the role until a replacement is found. And Andy MacLeod has resigned as chief executive of Pengxin NZ Farm Group, the Chinese-owned company that owns the 16 North Island farms that were known as the Crafar farms, as well as 13 farms in the South Island that were previously owned by Synlait. MacLeod had been in the role since April 2013.

GENEVA FINANCE TO PAY SPECIAL DIVIDEND AFTER 61% PROFIT INCREASE
Geneva Finance said it would pay a special dividend of 1.5 cents per share, after revenue was up 23% in the year to March and profit was up 61%. The company has recently completed a 7:1 share consolidation.

MAORI KIWISAVER SCHEME TO CLOSE 
IWISaver, the country's only Maori controlled KiwiSaver scheme will close shortly after failing to attract sufficient funds to warrant licensing under the Financial Markets Conduct Act. 

SWAP RATES RISE
NZ Swap rates are up 1 basis point across the entire curve today. US 10-year treasury yields jumped on the non-farm payroll release but then fell back to finish 3 basis points lower than the previous day's close at 1.36%.

NZ DOLLAR FLAT
The Kiwi traded sideways against the USD for most the day but remained at elevated levels against the AUD following Malcolm Turnbill's election victory announcement. 

You can now see an animation of this chart. Click on it, or click here.