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David Ross, the Ponzi-accused former manager of Ross Asset Management, appeared in the District Court in Wellington this morning for substantive hearings on eight Crimes and Financial Advisers Act charges. He was remanded until Aug. 29. All aspects of today’s hearing were supressed. Ross faces charges relating to $384.8 million of assets recorded in the accounts of a Ross vehicle, …

Port of Tauranga, the country’s biggest export port, has reported a record profit bang on expectations as it readies a dredging project to prepare for larger ships. Net profit of $112.1 million in the year ended June 30 was up 52 percent on the previous year and in line with First NZ Capital’s expectation of $112.9 million. After a $38.2 …

Neill Williams, a key manager of failed Five Star Consumer Finance, will spend longer in jail after appearing in the Auckland High Court this morning for final sentencing in the long-running case. The 78-year-old is currently serving three years, seven months’ imprisonment on charges previously laid by the Financial Markets Authority. Today’s sentencing on charges laid by the Serious Fraud …

David Ross, the Ponzi-accused former manager of Ross Asset Management, appeared in the District Court in Wellington this morning for substantive hearings on eight Crimes and Financial Advisers Act charges. He was remanded until Aug. 29. All aspects of today’s hearing were supressed. Ross faces charges relating to $384.8 million of assets recorded in the accounts of a Ross vehicle, …

By Pam Graham Rakon, a maker of crystal oscillators used in smart phones and navigation systems, will liquidate its two-year-old Chinese factory if a plan to sell it does not go through. iphone sms spy Shenzhen Stock Exchange-listed ZheJiang East Crystal Electronic Co is buying 80 percent of Rakon Crystal (Chengdu) Co (RCC) for $US18.8 million. Rakon, which will retain …

?David Shearer has resigned as leader of the New Zealand’s opposition Labour Party, having failed to make a dent in the popularity of the ruling National Party and Prime Minister John Key. “There needs to be a Labour-led government and the ambitions of one person should never be larger than that purpose,” Shearer told reporters at a media conference in …

Fairfax Media Group’s New Zealand unit, which includes the Dominion Post, Press and Sunday Star Times newspapers, reported a 15 percent decline in annual earnings, outperforming the company’s papers In Australian. New Zealand earnings before interest, tax, depreciation and amortisation fell to $77.8 million in the 12 months ended June 30, from $91.7 million a year earlier, the Sydney-based company …

Punakaiki Fund, set up by Pacific Fibre co-founder and internet commentator Lance Wiggs, is seeking to raise up to $50 million to invest in early stage New Zealand technology, internet and design companies. spy to mobile The fund registered a prospectus for an initial public offering of $20 million of shares at $1 apiece with oversubscriptions for a further $30 …

?Fonterra Cooperative Group, beset by food standards issues after the bacteria that can cause botulism was found in its supply chain, had another stumble in China in May when 42 tonnes of milk powder were held up over elevated nitrate levels. cell phone hacking The milk powder was among 163 batches of foods and cosmetics prevented from entering China by …

Skellerup, the industrial rubber goods manufacturer, beat its guidance with a 23 percent decline in annual profit following a pickup in the last two months of the financial year. Skellerup made a profit of $19 million in the year ended June 30, ahead of its May 2 forecast of $17 million, but below the year earlier $24.7 million, the Auckland-based …