UPDATE: Westpac NZ delivers 15% lift in first-half net profit
(Updates with comment from David McLean from 5th par) By Jenny Ruth May 6 (BusinessDesk) - Westpac New Zealand will have brought a note of cheer to its parent’s dismal results as fixing problems revealed by the royal commission into financial services continue to dog the Au...
Goodman trust won't adopt new NZX rules for managed funds
By Jenny Ruth May 6 (BusinessDesk) - Goodman Property Trust’s manager says that it won’t be adopting new NZX rules for managed investment schemes but will remain subject to the rules applying to most other equity securities. That leaves the manager of the only other NZX-lis...
Jenny Ruth: CORRECT: The story behind the collapse of Allan Hubbard's financial empire
(Corrects details of Humphry Rolleston's sale of his company to Southbury in par 13) By Jenny Ruth May 6 (BusinessDesk) - Government officials wrongly decided after a flying visit to his Timaru headquarters that financier Allan Hubbard had stolen money from Aorangi Securiti...
Class action against Southern Response gains Aussie funder
By Jenny Ruth May 6 (BusinessDesk) - About 3,000 Canterbury residents who believe they were short-changed in their insurance settlements with Southern Response now have the backing of an Australian litigation funder for their roughly $300 million claim. Lawyer Grant Cameron...
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