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The receivers for failed Timaru lender South Canterbury Finance will wrap up their administration at the end of the month, having clawed back $774.4 million in the two-and-a-half year administration. McGrathNicol’s Kerryn Downey and William Black handed over the remnants of deceased business Allan Hubbard’s empire to Crown Asset Management last year, and remained in office to wind up one …

Jasons Travel Media, which announced the departures of its chief executive and a director in the past two months, is in talks with its banks after breaching lending covenants and forecasting an annual loss. The Auckland-based company is bracing for a pretax loss in the year ending March 31, which will breach its interest cover and debt to earnings before …

Snakk Media, the latest brainchild of Hyperfactory co-founder Derek Handley, accelerated sales in the third quarter and is planning to raise new funds from existing shareholders next month. Sales rose to $1.44 million in the three months ended Dec. 31, from $686,000 a year earlier, the Auckland-based company said in a statement. That exceeds the $1.22 million in revenue the …

Opus International Consultants, the engineering firm with one of four mandates to lead design the rebuild of Christchurch city, is asking shareholders to approve a joint venture with a sister firm to target the Middle East. The Wellington-based firm wants to set up a venture with Opus International (M) Bhd (OIMB), a sister company to Opus’ cornerstone shareholder Opus International …

The New Zealand dollar gained against the euro as Cyprus nears a deadline to secure a European Union bailout to avoid a collapse of its banks and the possible exit from the euro zone. The kiwi traded at 64.39 euro cents from 64.22 cents in late New York trading on Friday. It slipped to 83.38 US cents from 83.51 cents. …

The rally that has propelled the Standard & Poor’s 500 Index 9.2 percent higher so far this year may finally-this week-bring the benchmark index to a fresh record. The index is now about 10 points shy of its all-time high of 1,565.15 and it could get the boost it needs as traders position their holdings for the end of the …

Chilean Economy, Development and Tourism Minister Pablo Longueira is visiting New Zealand this week to carry out discussions on education, Māori economic development and tourism. Minister Longueira, who was invited to visit New Zealand by Prime Minister John Key during his recent Latin America trip, arrived today for a four-day visit. He is accompanied by a 21-strong delegation including the …

The New Zealand dollar gained against the euro as Cyprus nears a deadline to secure a European Union bailout to avoid a collapse of its banks and the possible exit from the euro zone. The kiwi traded at 64.39 euro cents from 64.22 cents in late New York trading on Friday. It slipped to 83.38 US cents from 83.51 cents. …

The rally that has propelled the Standard & Poor’s 500 Index 9.2 percent higher so far this year may finally-this week-bring the benchmark index to a fresh record. The index is now about 10 points shy of its all-time high of 1,565.15 and it could get the boost it needs as traders position their holdings for the end of the …

Pyne Gould Corp, the South Island asset management firm controlled by George Kerr, has sold the bulk of its Perpetual businesses to Australian research and management group van Eyk Research. The Christchurch-based group has sold Perpetual Asset Management and Perpetual Portfolio Management, though hasn’t included Perpetual Trust as previously indicated. The sale was flagged in January, and would see Pyne …