Tower, which has hived off its health insurance and investment units, is in talks with the Reserve Bank over proposed conditions as part of its licence and may have to lift its minimum solvency requirements. The Auckland-based insurer has a provisional licence under relatively new prudential supervision laws and is in talks with the regulator as part of the licensing …

SkyCity Entertainment Group, which this month agreed to build a $402 million convention centre in Auckland in exchange for regulatory concessions, has been granted approval to buy Queenstown’s Wharf Casino for $5 million. The Commerce Commission cleared the Auckland-based casino and hotel operator to buy Lasseters International-owned Otago Casinos, which will add 74 electronic gaming machines and six gaming tables …

Prices of dairy products posted their biggest gain since early April in Fonterra Cooperative Group’s latest GlobalDairyTrade auction, led by a jump in whole milk powder, the biggest product by volume. The GDT-TWI Price Index rose 4.9 percent compared to the last sale two weeks ago. The average winning price rose to US$4,828 a tonne, the biggest gain since April …