Insurance Australia Group, whose ASX-listed shares have surged 63 percent this year, is selling its unprofitable UK operations, taking a loss of about $240 million on them in the 2013 year. The Sydney-based insurer, which runs the NZI, State and AMI insurance bands in New Zealand, will sell its Equity Red Star motor insurance business in the UK to buyout …

The New Zealand dollar fell from a nine-month high amid concerns politicians in Washington are making no progress in talks to avert the fiscal cliff, countering the impetus growth assets got from the Federal Reserve’s further quantitative easing and weighing on stocks. The kiwi dollar fell to 84.23 US cents from 84.40 cents at 5pm in Wellington yesterday. The trade-weighted …

Hot Gossip around the China traps is that Pat English will be named the inaugural director of the NZ China Council. It was openly discussed at another of those many banquets to celebrate 40 years of official relations between China and NZ this week. Chinese businesspeople praised English who is NZ’s consul in Guangzhou as well as Trade Commissioner. law coursework …