Air New Zealand, the only one of 11 airlines not to settle an antitrust suit over cargo with the Commerce Commission, has withdrawn a court challenge to the settlement deal. Air NZ has agreed to pay as yet unspecified costs to the regulator and the two sides have sought a penalty hearing, according to a joint statement from the airline …

Diligent Board Member Services plans to offer an additional US$6.7 million of performance-related cash, shares and options to its chief executive after its earlier bonus scheme fell afoul of regulations. CEO Alessandro Sodi will be offered 4.1 million units over five years, worth an estimated US$29.1 million, replacing an earlier package worth US$22.4 million, the New York based company said …

Heartland New Zealand shares rose to a two-year high and its credit rating was affirmed by Standard & Poor’s after the lender decided to take over the management of distressed assets and wear the cost upfront. The shares jumped 7.6 percent to 85 cents, the highest level since February 2011, after the Christchurch-based bank cut its annual profit guidance to …