Corporate owners of forestry estates with lax health and safety standards leading to serious injury or death will be easier to target under the new regulatory regime, according to Ministry of Business, Innovation and Employment chief executive David Smol. The forestry sector has come under scrutiny in recent months, with nine deaths in the workplace this year, a level Smol …

SkyCity Entertainment Group, New Zealand’s only listed casino operator, faces a “benign earnings outlook” until the benefits show through from the redevelopment of its Adelaide casino complex in the 2017 financial year, according to Deutsche Bank/Craigs Investment Partners. SkyCity is betting on a redevelopment of its Adelaide casino, which would enable higher spending limits for some of its gaming machines …

The Serious Fraud Office completed 28 investigations last year, amounting to just 6 percent of complaints received though the state agency says its ability to pursue important cases isn’t compromised by a lean budget. Newly appointed chief executive Julie Read appeared before the law and order select committee yesterday for the SFO’s annual financial review. The corporate crime investigator is …

Postie Plus Group, the worst performer on the New Zealand stock exchange this year, has agreed to sell its school uniform business SchoolTex for $9 million to reduce debt in an attempt to return the company to profitability. Postie Plus will seek agreement from shareholders for the sale at its annual meeting on Dec. 20, the Auckland-based company said in …

Telecommunications network operator Chorus won’t meet its contractual obligations to build the bulk of the country’s broadband network if regulated cuts to the wholesale price it charges on its ageing copper lines go ahead, Communications Minister Amy Adams says. Accounting firm Ernst & Young Australia has verbally briefed Adams on whether the Wellington-based company can deliver on its contracts, and …

Brokerage First NZ Capital has been tapped to buy up to 24.8 million Infratil shares for as much as $2.60 apiece for the investment company’s on-market buyback. Infratil’s shares last traded at $2.38 and have gained 4.9 percent this year. The stock is rated a ‘buy’ based on six analysts polled by Reuters, with a median price target of $2.81 …

The New Zealand dollar touched a fresh five-year high against its trans-Tasman counterpart overnight as economic data strengthens expectations Australia may cut interest rates further, increasing the yield appeal of New Zealand’s currency where interest rates are set to rise. The kiwi touched 90.86 Australian cents overnight, and was trading at 90.61 cents at 8am in Wellington, from 90.34 cents …

Wall Street fell after stronger-than-expected US private jobs data raised concern the Federal Reserve might begin tapering its bond-buying programme sooner than anticipated. An ADP report showed private employers added 215,000 new jobs to their payrolls in November, the largest increase in a year and comfortably exceeding economists’ expectations. Meanwhile, October’s rise was revised to 184,000, up from 130,000. “The …

The New Zealand dollar reached a fresh five-year high against its trans-Tasman counterpart after figures showed Australia’s economy grew less than expected in the third quarter. The kiwi rose as high as 90.54 Australian cents in the local session, and traded at 90.31 cents at 5pm in Wellington from 90.01 cents yesterday. It fell to 81.85 US cents at 5pm …

Richina Pacific, the parent of failed construction firm Mainzeal Property & Construction, is in provisional liquidation since quitting the NZX five years ago, and has handed over its financial statements to the Companies Registrar for the financial years leading up to its demise. The registrar was looking into the financial reporting obligations the Mainzeal and Richina group of companies, which …