Shell New Zealand and its joint venture partners OMV New Zealand and Mitsui E&P Australia are to drill an exploration well in the Great South Basin, off the South Island’s southeast coast, in a move the energy industry hopes will create ‘the next Taranaki.’ Shell, the operating partner, may begin drilling in 2016. The partners have an interest in two …

Wynyard Group shares climbed to a record after the intelligence software developer announced its latest contract win in the Middle East. The stock rose as high as $1.38 and recently traded at $1.36, up 14 percent on the day. It’s rated a ‘hold’ by two analyst recommendations compiled by Reuters, with a median target price of $1.40. United Arab Emirates …

The Court of Appeal has tossed out a bid by a group of former Reserve Bank senior managers, including ex-assistant governor David Archer, to top-up their pensions, and upheld an earlier Employment Court ruling. In a Dec. 17 judgment, Justices Rhys Harrison, Douglas White and Forrest Miller dismissed an appeal by the former RBNZ senior staffers which would have forced …