Todd Corp, the investment company of New Zealand’s wealthiest family, has acquired a 19.9 percent stake in Wolf Minerals as part of a placement to help fund the ASX-listed company’s development of a Tungsten mine in southwest England. TTI (NZ), a unit of Todd, subscribed for 39.4 million shares in Wolf at 27 cents apiece, a 12 percent premium to …

The New Zealand dollar fell to a three-week low against the greenback after equities weakened and doubts grew on the ability of US Republicans and Democrats to reach agreement on averting the fiscal cliff. The kiwi dollar slipped to 82.32 US cents from 82.37 cents in New York on Friday and from 83.02 cents in Wellington at 5pm on Friday. …

Diligent Board Member Services will have a look at its executives’ incentive schemes after a New York law firm raised a flag over some compensation plans. The NZX-listed company’s board has appointed a special committee to review the options and shares granted to some executives after it was questioned whether they had all been issued in “strict compliance with the …

PwC’s John Fisk and David Bridgman have found another pitfall as they try to untangle the mess surrounding Ross Asset Management which may make it more difficult to try and recovery the missing investor funds. The High Court in Wellington appointed Fisk and Bridgman as liquidators of Ross Asset Management last week, and the pair have found that about 40 …

Singapore Airlines Cargo has been fined $4.1 million for its role in colluding to fix prices for air cargo in the latest settlement with the Commerce Commission. In the High Court in Auckland, Justice Chris Allan today ordered the airline to pay the third-biggest fine out the seven settlements to date, taking the running tally to $24.48 million. SIA Cargo, …

A 38 percent jump in the annual number of Chinese touching down in New Zealand has seen the world’s most populous nation topple the UK as NZ’s second-biggest pool for visitors, though still well behind Australia. There were some 194,752 short-term Chinese arrivals in the 12 months ended Nov. 30, up from 141,289 a year earlier and 1200,222 in 2010, …

Momentum stalled on Wall Street as did budget talks between Democrats and Republicans aimed at preventing the US from falling over a fiscal cliff at the end of the month. Today Republicans in Congress will vote on House Speaker John Boehner’s plan to raise taxes on incomes over US$1 million, a plan President Barack Obama would veto as he’s now …

Smiths City Group, the Christchurch-based department store operator, posted a 2.6 percent gain in first-half profit saying retail conditions are difficult, especially for consumer electronics. Profit was $1.69 million in the six months ended Oct. 31, from $1.64 million a year earlier, the company said in a statement. Sales fell 0.2 percent to $109.7 million. Trading conditions “have been difficult,” …

buy snow leopard online Veritas Investments, the shell company listed on the NZX after Salvus Strategic Investments was wound up, has agreed to buy the Mad Butcher franchisor business in a $40 million cash and scrip deal, and will seek more funding from the public early next year. The NZX-listed firm will pay $20 million in cash and $20 million …

New Zealand business confidence fell this month, while holding at reasonably upbeat levels, continuing a monthly see-saw in the sentiment in an economy that’s only recording tepid growth. A net 23 percent of respondents in the ANZ Bank Business Outlook expect general business conditions to improve in the year ahead, down from 26 percent in the previous month’s survey. Those …