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Todd Corp, the investment company of New Zealand’s wealthiest family, has acquired a 19.9 percent stake in Wolf Minerals as part of a placement to help fund the ASX-listed company’s development of a Tungsten mine in southwest England. TTI (NZ), a unit of Todd, subscribed for 39.4 million shares in Wolf at 27 cents apiece, a 12 percent premium to …

The New Zealand dollar fell to a three-week low against the greenback after equities weakened and doubts grew on the ability of US Republicans and Democrats to reach agreement on averting the fiscal cliff. The kiwi dollar slipped to 82.32 US cents from 82.37 cents in New York on Friday and from 83.02 cents in Wellington at 5pm on Friday. …

Diligent Board Member Services will have a look at its executives’ incentive schemes after a New York law firm raised a flag over some compensation plans. The NZX-listed company’s board has appointed a special committee to review the options and shares granted to some executives after it was questioned whether they had all been issued in “strict compliance with the …

PwC’s John Fisk and David Bridgman have found another pitfall as they try to untangle the mess surrounding Ross Asset Management which may make it more difficult to try and recovery the missing investor funds. The High Court in Wellington appointed Fisk and Bridgman as liquidators of Ross Asset Management last week, and the pair have found that about 40 …

Two more candidates for the top World Trade Organisation job tossed their hats into the ring yesterday joining NZ’s Tim Groser and candidates from Costa Rica and Ghana. Groser’s candidacy – first revealed by this journalist in the NZ Herald in August – was expected. After four years as trade minister, Groser has polished his political skills and developed a …

Singapore Airlines Cargo has been fined $4.1 million for its role in colluding to fix prices for air cargo in the latest settlement with the Commerce Commission. In the High Court in Auckland, Justice Chris Allan today ordered the airline to pay the third-biggest fine out the seven settlements to date, taking the running tally to $24.48 million. SIA Cargo, …

Prime Minister John Key said the Government has nominated Trade Minister Tim Groser for the position of Director-General of the World Trade Organisation. “Nominations have been called for by the end of December, and I can confirm that Mr Groser’s name has been put forward, with the New Zealand Government’s blessing,” says  Key. “Given Tim Groser’s experience in trade, and …

A 38 percent jump in the annual number of Chinese touching down in New Zealand has seen the world’s most populous nation topple the UK as NZ’s second-biggest pool for visitors, though still well behind Australia. There were some 194,752 short-term Chinese arrivals in the 12 months ended Nov. 30, up from 141,289 a year earlier and 1200,222 in 2010, …

The James Bertram Scholarship at Victoria University has been established by the Wigram Foundation to encourage a broader understanding by young New Zealanders of Asia, and particularly of China, in the contemporary world.  The scholarship aims to address deficiencies in knowledge not only in Chinese language, but also in Chinese culture, history, society, government and business. The scholarship is for …

Emulex’s cash offer of 500 pence per share announced on December 5, 2012 has been officially dispatched to shareholders and optionholders, under the terms of the NZ Takeovers Code. Using the current exchange rate of 1.62 USD to the pound sterling, this represents a transaction value of approximately $131 million, a 65 per cent premium to the mid-market closing price …