Would-be ironsands miner TransTasman Resources has been instructed by the High Court to come up with a far shorter, more focused appeal against the rejection of its application to mine the seabed in the Exclusive Economic Zone. At a chambers hearing on Tuesday, which media were allowed to attend, Justice Denis Clifford gave TTR’s counsel, Hugh Rennie QC, until Friday, …

Westpac Banking Corp and Kiwibank led earnings growth among New Zealand’s banks in the second quarter, as increased lending and wider margins propped up profits. Net profit across New Zealand’s banks edged down to $1.125 billion in the three months ended June 30 from $1.15 billion in the March quarter, though stripping out a one-off insurance settlement by Australia & New …

The New Zealand dollar jumped against the European common currency overnight after a report signalled further weakness in the European economy, fuelling bets the European Central Bank may add further stimulus. The kiwi rose to 63.14 euro cents at 8am in Wellington, from 62.85 cents at 5pm yesterday. The local currency slipped to 80.73 US cents from 80.80 cents yesterday as the …