Convicted Capital + Merchant fraudsters Wayne Douglas and Neal Nicholls have pleaded guilty to Securities Act charges of making untrue statements in offer documents laid by the Financial Markets Authority. The guilty pleas by the former directors of the failed finance company follow those of fellow directors Robert Sutherland and Colin Ryan, who are to be sentenced in Auckland next …

Steel & Tube Holdings, the building products firm whose majority shareholder exited its holding in October, posted a 14 percent gain in first-half profit and expects second half results to exceed those in the first six months of the year. Profit rose to $7.29 million, or 8.3 cents a share, in the six months ended Dec. 31, from $6.37 million, …

ANZ New Zealand, the country’s biggest lender, reported a 25 percent fall in first-quarter profit as the local unit of Australia & New Zealand Banking Group recorded softer margins, even as it grabbed more market share. Net profit dropped to $300 million in the three months ended Dec. 31, from $400 million a year earlier, according to ANZ New Zealand’s …