Carter Holt Harvey, owned by Graeme Hart’s Rank Group, and Fletcher Building, the country’s biggest listed company, admitted to the Commerce Commission that they agreed to fix prices for structural timber for some commercial customers in Auckland in late 2012 and early 2013. The Wellington-based anti-trust regulator today filed proceedings in the High Court against Carter Holt and its manager …

Conservation Minister Nick Smith has ordered an independent financial review of the controversial Fiordland Experience monorail project, ahead of a final decision on whether to allow the project to proceed over DoC land in the Fiordland World Heritage area. Smith is due to deliver a decision early next year on the application by Riverstone Holdings, backed by Wanaka property developer …

The cost of labour in Christchurch is increasing, especially in the construction industry, driven by a tight labour market with low unemployment and strong demand due to the earthquake rebuild, according to the latest September quarter Canterbury Rebuild Report by the Ministry of Business, Innovation & Employment. The mismatch between supply and demand saw salary and wages in the Canterbury …