James Hardie Industries, the Australian building materials firm, hasn’t made a provision for the New Zealand Ministry of Education’s $1.5 billion suit over 300 leaky buildings, saying it hasn’t worked out what loss, if any, it may face. The Australian company and its New Zealand subsidiaries are assessing the ministry’s claim with the intention of “vigorously” defending it, but haven’t …

Conservation Minister Nick Smith has approved access over conservation estate land for Bathurst Resources to develop an open cast coal mine on the Denniston Plateau, above Westport, to the dismay of environmental opponents. The timing for Smith’s move avoids Bathurst having to resubmit applications for access agreements under the revised Crown Minerals Act, which comes into force tomorrow and would …

Guinness Peat Group will have to keep on more staff than previously planned as it works with the UK regulator over its liability for the Coats pension schemes. Chairman Rob Campbell told shareholders in Auckland the investment firm will have to keep certain corporate functions at GPG for longer than it intended as it figures out what level of funding …