The former directors of Feltex Carpets have been found not liable for alleged disclosure failings in the failed carpet-maker’s 2004 prospectus in a representative lawsuit on behalf of 3,639 former shareholders.     In a reserved judgment in the Wellington High Court, Justice Robert Dobson  said while there was “some justification” for a number of the criticisms of the content of the prospectus, …

New Zealand service sector activity expanded in August, with employment at its highest level since the survey began in 2007, though retail trade was subdued in the month.     The BNZ-BusinessNZ performance of services index slipped 0.5 points to 57.9 in August, and was up from 53.7 in the same month a year earlier. The service sector, which accounts …

THE reported beheading of British aid worker David Haines by so-called Islamic State terrorists was, as British Prime Minister David Cameron said, “an act of pure evil’’. After months of murderous atrocities in northern Iraq and Syria, including the beheadings of US journalists James Foley and Steven Sotloff, a broad coalition of Western and Arab nations will take on an …