Convicted Ponzi scheme perpetrator David Ross is to appeal against his sentence of 10 years and 10 months, claiming it is “manifestly excessive”. Fairfax Media reports confirmation of the appeal from Ross’s Wellington barrister, Gary Turkington, who did not immediately return calls for confirmation. Wellington-based Ross built up a private investment service by word of mouth, producing regular reports for …

The government has sweetened its incentive scheme for blockbuster movies as a means to win over Lightsource Entertainment and Twentieth Century Fox Film Corp to make the next three instalments of the Avatar series in New Zealand. Economic Development Minister Steven Joyce and Arts, Culture and Heritage Minister Chris Finlayson today signed a memorandum with 20th Century Fox and Lightstorm …

Insurance Australia Group has agreed to buy the New Zealand and Australian underwriting businesses of Wesfarmers for A$1.85 billion, to bolster its position in the two markets. IAG would acquire Wesfarmers’ WFI and Lumley Insurance brands as well as a 10-year distribution agreement with Coles, it said in a statement today. The insurer will fund the transaction via a fully-underwritten …