New Zealand

New Zealand banks face what’s expected to be the biggest class suit the country’s seen over $1 billion in default fees claimed by lenders over the past six years. Three of Australasia’s biggest law firms will announce the class suit to reclaim the fees, according to a statement. The fees are charged when customers overdraw their accounts, pay credit card …

If Hugo Chavez was in John Key ‘s place he’d bellow ‘Vete al inferno’ if asked if he planned to go to the funeral of a political leader who was his polar opposite. He’s not of course. Chavez is dead. Finally. Succumbed to cancer. Poisoned by the Americans says Vice President Nicolás Maduro. As he would. Let’s face it the …

The value of cash market trading on New Zealand’s stock exchange jumped 58 percent in February from the same month a year earlier as low interest rates keep investors looking for better returns. Total trades increased 4.8 percent to 81,624 last month from February 2011 with the total value traded at $3.5 billion, according to the NZX’s monthly metrics. Average …

The death of Venezuelan President Hugo Chavez had the Prime Minister’s staff burning the midnight oil at a humid hotel on the Colombian coast to recalibrate the Chilean part of his four country Latin American swing to accommodate the wish of Chilean President Sebastian Pinera to attend Chavez’s state funeral. The state funeral is due to take place in Caracas …

Primary Industries Minister Nathan Guy has extended the official drought areas across the North Island, meaning government support programmes can be rolled out to those areas. A state of drought has been officially declared in South Auckland, Waikato, Bay of Plenty and Hawkes Bay, Guy said in a statement. That covers Auckland Council area south of the Harbour Bridge, all …

Blue Star Group, the revitalised printing operation under new ownership, has bought a New Zealand labels unit from the receivers of ailing rival Geon Group. The sale was completed yesterday and will see the transfer of 38 Geon employees and their entitlements to Blue Star, receivers Andrew Greenfell and William Black of McGrathNicol said in a statement. No price was …

Prime Minister John Key says he and Mexican President Enrique Peña Nieto have committed to strengthening the trade relationship between New Zealand and Mexico, following bilateral talks in Mexico City. “Mexico and New Zealand have shared a friendly relationship for 40 years. President Peña Nieto and I agreed the trade relationship between our two countries, while healthy, could be strengthened …

Prices of dairy products surged to the highest since June 2011 in Fonterra’s latest GlobalDairyTrade auction with the prospect of New Zealand production curtailed by drought in the North Island. The GDT-TWI Price Index rose 10.4 percent compared to the last sale two weeks ago, the biggest increase since the June 5, 2012, sale and the sixth straight gain. The …

Ladies and Gentlemen, it’s a pleasure to be here in Mexico. I’ve been here once before and have wanted to come back for some time, so it’s great to be here in this vibrant and energetic city. I’m looking forward to my first meeting with President Peña Nieto later today. And I’m pleased to be leading a delegation of some …

  Primary Industries Minister Nathan Guy kicked off New Zealand’s profile-raising event in Mexico City early this morning (NZ time) with a strong pitch on what NZ has to offer Mexico’s agriculture sector and the importance of TPP to both countries. Guy – who had been up at 6am for an early morning run with NZTE’s Peter Chrisp and other keen …