The receivers have been called in to deal with the collapse of an eighth finance company.

The board of LDC Finance is having trouble attracting new funds, while existing customers are also pulling their cash out.

LDC Finance says the collapse of other finance companies has led to an unsustainable level of demand for repayment of on-call deposits.

About 1,000 people have debentures or other investments with LDC, worth around $19 million. However it says it has assets of nearly $24 million.

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TV3's Target programme is standing by its testing for formaldehyde in clothes.

The results of the tests broadcast in July revealed the chemical was present at high levels.

However the Retailers Association has since done its own tests and found no traces of formaldehyde.

It claims Target used the wrong tests and didn't apply accepted standards.

But Executive Producer Laurie Clarke says at the time of the testing there were no standards in place in New Zealand.

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The CTU is paying tribute to Syd Jackson's contribution to the union movement.

Spokeswoman Sharon Clair says Mr Jackson's commitment came from his family connections with the freezing works in the Hawke's Bay.

She says as secretary of the Clerical Workers Union in Auckland for more than a decade, he became a driver for modernising the union.

Ms Clair is also praising Mr Jackson's contribution to Maori self-determination and his early involvement in the establishment of the Runanga through the Federation of Labour.

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To the markets where the NZX50 is up 12 points to 4138.

Auckland Airport is up two to $3.09 while Telecom's up four to $4.42.

The dollar is worth 70.19 US cents, 85.43 Australian cents, 81.26 yen, 34.78 pence and 51.53 euro cents.

The 90 day rate is 8.75 percent and the TWI is on 67.69.