Ryman Healthcare, which last week reported a 43 percent boost in annual profit, has secured a site for its second retirement village in Melbourne, which it expects to spend more than $100 million to build. The Christchurch-based company purchased a 5.5 hectare property in Melbourne’s eastern suburbs from the Victorian government as part of the state’s surplus land programme, it …

A company seeking permission to mine ironsands off the coast of Patea in New Zealand’s Exclusive Economic Zone says it is “confident” the project “can proceed.” The statement from Trans-Tasman Resources follows today’s formal closing of the marine consent hearings by the Decision-Making Committee appointed by the Environmental Protection Authority to consider the application. The DMC unexpectedly adjourned rather than …

New Zealand shares fell, paced by companies with exposure to a weaker Australian economy such as SkyCity Entertainment Group, Kathmandu Holdings and Michael Hill International. Trade Me Group slid after an analyst downgraded the stock. The NZX 50 Index fell 18.409 points, or 0.4 percent, to 5167.780. Within the index, 24 shares fell, 15 rose and 11 were unchanged. Turnover …