RBNZ's warning to general insurers
The governor of the Reserve Bank of New Zealand has warned the wider insurance industry that regulators will be back for them following a damning report into the conduct of life insurers. Speaking at an industry event, Adrian Orr urged general insurers to have a look at themselve...
Feltex claimants not ready to start stage two today
Aggrieved Feltex investors have sought a last-minute delay to the second part of a decade-long claim scheduled to start in the High Court at Wellington this morning. Eric Houghton's $185 million claim on behalf of more than 3,000 Feltex Carpets shareholders is now at the valuati...
MARKET CLOSE: Shares fall as power companies still plagued by smelter; property rises
New Zealand shares fell, as investors continued to assess the impact of Rio Tinto’s threat to close the Tiwai Point smelter. However, property stocks had a strong day, led by Vital Healthcare Property Trust. The S&P/NZX50 50 Index declined 26.13 points, or 0.2 percent, to 10,7...
Ngai Tahu launches review after poor year for honey and dairy units
A 76 percent plunge in annual profit for its commercial arm and challenging economic conditions has seen Ngai Tahu launch a wide-ranging review of its businesses. The South Island iwi posted a net profit of $37.5 million for the year ended June from $153.7 million the previou...
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