Former Hanover Finance directors Mark Hotchin and Eric Watson have settled their defamation suit against the New Zealand Shareholders Association and continue to pursue its former chairman Bruce Sheppard. The association awarded its 2010 Golden Glob award to the two businessmen in 2010, a gong it gives out for “appalling corporate practise.” Sheppard gave media interviews in 2009 where he …

Warehouse Group, which reports its first-half profit this week, will spend up to $33 million buying online retailer Torpedo7, just months after buying consumer electronics chain Noel Leeming Group. The country’s biggest listed retailer will pay $20 million upon settlement, and up to a further $13 million over the next three years if earn-out targets are met, for a 51 …

 Rupert Murdoch’s News Ltd is quitting its stake in pay-TV operator Sky Network Television in what’s expected to be a discounted sale, ahead of the global media group’s split along print and broadcasting lines later this year. Sky TV’s shares were halted after News said it will sell its 44 percent stake in the New Zealand firm in a placement …