APN News & Media chairman Peter Hunt has this evening formally announced his resignation and that of CEO and Managing Director Brett Chenoweth and three other directors – John Maasland, Melinda Conrad and John Harvey –  to the ASX. The five resignations take effect from 9am tomorrow morning (Australian Eastern Seaboard time). A further director, Kevin Luscombe, will retire in …

The government will wait for the Supreme Court to rule on the Maori Council appeal against the partial privatisation of state-owned electricity company MightyRiverPower, even though it needed a decision by today to meet its own sales timetable. Prime Minister John Key told his post-Cabinet press conference that the Cabinet could have passed an Order in Council today to proceed …

Bank of New Zealand first-quarter profit sank 56 percent after the local unit of National Australia Bank took bigger impairment charges on its loan book and wrote down the value of financial instruments. Loan growth bolstered underlying earnings. Net profit fell to $126 million in the three months ended Dec. 31 from $289 million a year earlier, according to the …