Oil companies are forging ahead with a contingency plan to import more fuels into the country to minimise disruption if planned industrial action at New Zealand Refining goes ahead next month. BP external relations manager Jonathan Mills, speaking on behalf of the industry, said they were currently assessing how much fuel across all grades is being held in storage at the refinery, on …

The New Zealand dollar tumbled more than half a US cent after Reserve Bank governor Graeme Wheeler invoked two of the conditions for the bank to intervene in currency markets, saying its strength was “unjustified and unsustainable” given the decline in commodity prices. Wheeler repeated the words he used in the July 24 official cash rate review in a statement titled: …

The Financial Markets Authority received fewer complaints in its 2014 financial year after the David Ross Ponzi investigation sparked a flood on inquiries in 2013, and had just 30 open cases at the end of the period. The financial markets watchdog received 839 complaints in the 12 months ended June 30, down from 1,273 a year earlier when investors in …