Andrew Robinson, who was struck off as an authorised financial adviser in December, and Mark Turnock have been charged following an investigation into Strategic Planning Group and SPG Investment Company No. 1. Robinson, a former director of Strategic Planning and current director of SPG Investment, appeared in the Auckland District Court today to face five charges laid by the Serious …

The Australian Competition and Consumer Commission won’t stop national carrier Air New Zealand from lifting its stake in Virgin Australia, two days after extending their airlines’ trans-Tasman alliance. The Australian antitrust regulator said it won’t oppose Air NZ’s proposal to lift its investment in Virgin to as much as 26 percent, the ACCC said in a statement. The New Zealand …

Mobile phone operator 2degrees is questioning the government’s minimum reserve price of $198 million for new fourth generation (4G) mobile spectrum, saying it’s well above prices being paid for existing spectrum. Communications Minister Amy Adams announced the auction of spectrum in the 700 Megahertz range from Oct. 29, after spending $157 million clearing the spectrum of analogue television broadcasting to …

Derma Sciences, the Nasdaq-listed company with exclusive global rights to Comvita’s Medhoney wound care products, has taken a 7.3 percent stake in the Te Puke-based Manuka honey products firm via a discounted placement. Comvita raised about $9 million selling about 2.3 million new shares to Derma at $3.90 apiece, a 3.7 percent discount to the stock’s closing price on the …

Rural Equities, the farming group controlled by the Cushing family, reported a 31 percent drop in annual profit as property revaluations lagged behind those from a year earlier, and as the North Island’s worst drought in seven years ate into operating earnings. Net profit fell to $10.9 million in the 12 months ended June 30, from $15.8 million a year …

The New Zealand dollar surged on optimism global economic growth is recovering and as safe haven currencies declined in light of no imminent western military action in Syria. The kiwi jumped to 79.07 US cents at 8am in Wellington from 78.08 cents at 5pm yesterday. The trade-weighted index advanced to 74.70 from 74 yesterday. Growth-sensitive currencies such as the kiwi …

New Zealand shares rose, as Fletcher Building gained to a 7-month high on signs of life in the Australian economy and amid perceptions the local market offers reasonably attractive dividend yields in a world of low interest rates. The NZX 50 Index rose 3.595 points, or 0.1 percent, to 4610.306, the highest close in four months. Within the index, 18 …

Flamboyant internet entrepreneur Kim Dotcom has resigned as a director of his Mega data storage empire to focus on his efforts on fighting extradition to the United States and other projects. Dotcom resigned as a director of Mega on Aug. 29, and was replaced by Hong Kong-based Bonnie Lam the same day, according to filings to the Companies Office. Dotcom …

The New Zealand dollar extended its decline against its trans-Tasman counterpart after faster-than-expected second-quarter growth in Australia dulled expectations that country’s Reserve Bank will have to cut interest rates further. The kiwi fell to 85.81 Australian cents at 5pm in Wellington from 86.11 cents immediately before the gross domestic product figures were released, and down from 86.63 cents yesterday. The …

The government plans to begin its auction of fourth generation mobile broadband radio spectrum on Oct. 29 and will be seeking a minimum of $198 million for the rights, which are expected to be fought over by Telecom, Vodafone, and 2degrees. However, potential operators who have yet to build their own mobile network will also be able to bid. The …