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David Ross, the Ponzi-accused former manager of Ross Asset Management, appeared in the District Court in Wellington this morning for substantive hearings on eight Crimes and Financial Advisers Act charges. He was remanded until Aug. 29. All aspects of today’s hearing were supressed. Ross faces charges relating to $384.8 million of assets recorded in the accounts of a Ross vehicle, …

?David Shearer has resigned as leader of the New Zealand’s opposition Labour Party, having failed to make a dent in the popularity of the ruling National Party and Prime Minister John Key. “There needs to be a Labour-led government and the ambitions of one person should never be larger than that purpose,” Shearer told reporters at a media conference in …

Fairfax Media Group’s New Zealand unit, which includes the Dominion Post, Press and Sunday Star Times newspapers, reported a 15 percent decline in annual earnings, outperforming the company’s papers In Australian. New Zealand earnings before interest, tax, depreciation and amortisation fell to $77.8 million in the 12 months ended June 30, from $91.7 million a year earlier, the Sydney-based company …

Punakaiki Fund, set up by Pacific Fibre co-founder and internet commentator Lance Wiggs, is seeking to raise up to $50 million to invest in early stage New Zealand technology, internet and design companies. spy to mobile The fund registered a prospectus for an initial public offering of $20 million of shares at $1 apiece with oversubscriptions for a further $30 …

?Fonterra Cooperative Group, beset by food standards issues after the bacteria that can cause botulism was found in its supply chain, had another stumble in China in May when 42 tonnes of milk powder were held up over elevated nitrate levels. cell phone hacking The milk powder was among 163 batches of foods and cosmetics prevented from entering China by …

Skellerup, the industrial rubber goods manufacturer, beat its guidance with a 23 percent decline in annual profit following a pickup in the last two months of the financial year. Skellerup made a profit of $19 million in the year ended June 30, ahead of its May 2 forecast of $17 million, but below the year earlier $24.7 million, the Auckland-based …

Vector, the Auckland-based electricity, gas and telecommunications network operator, lifted net profit 2.3 percent, missing estimates, as its technology unit bolstered sagging earnings from traditional energy revenue streams. Net profit rose to $203.3 million, or 20.4 cents per share, in the 12 months ended June 30, from $198.8 million, or 20 cents, a year earlier, the company said in a …

Auckland International Airport aims to grow earnings by up to 11 percent next year in a four-pronged plan that includes a coordinated effort to attract Asian visitors to New Zealand and develop the gateway’s land bank into the country’s “greatest” business hub. android teen spy app The airport is forecasting underlying earnings of between $160 million and $170 million in …

Fletcher Building posted a bounce back in annual profit, led by growth in its New Zealand operations and an absence of the year-earlier charges in Australia, where trading is expected to remain weak. Net profit jumped to $326 million in the 12 months ended June 30, from $185 million a year earlier, when the Auckland-based company took $132 million of …

Chinese officials have responded constructively to the discovery of excessive nitrate levels in milk products from Westland Milk Products that were shipped to China, Prime Minister John Key said. cell phone spy tracker The Ministry for Primary Industries today announced it had revoked export certificates for four consignments of lactoferrin made by Westland Milk after unacceptable levels of nitrates were …