The Financial Markets Authority says directors of the failed Blue Chip property investment group may yet face criminal charges as the regulator awaits the outcome of two lawsuits brought by investors. The FMA has been reviewing the case after a Supreme Court decision last year agreed with a group of investors that Blue Chip’s investment scheme marketing between 2005 and …

The government is “not interested in subsidising a foreign multinational in the long term,” State-Owned Enterprises Minister Tony Ryall told Parliament in response to opposition taunts about his intervention in electricity price negotiations for supply to the Bluff aluminium smelter. Ryall also indicated Meridian Energy is no longer leading negotiations with Rio Tinto-owned Pacific Aluminium, majority owner of New Zealand …

King Country Energy, which is majority owned by Todd Energy, has cut its annual earnings expectations as the worst drought in the North Island for seven decades has cut its hydro-electricity output and forced it to buy electricity on the spot market. The Taumarunui-based company expects earnings before interest, tax, depreciation, amortisation and fair value adjustments to between $12.75 million …