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A second unnamed NZX adviser has been fined over a rule breach related to auction site Trade Me’s $363.5 million initial public offering last December. The adviser must pay $16,000 to the NZX Discipline Fund plus costs, the regulator said in a statement. The breaches relate to both the Trade Me and Summerset IPOs last year. NZX regulation said the …

Jim Delegat, managing director of winemaker Delegat’s Group, has failed in a High Court attempt to recover payments on an incomplete yacht from a director of failed luxury yacht maker Salthouse Marine. Justice Mark Woolford ruled that Perth-based naval architect Christopher Norman didn’t breach his director’s duties under the Companies Act while a director of Salthouse between December 2008 and …

The Serious Fraud Office has lost the first round in it its bid to appeal a ruling clearing Capital + Merchant Finance directors Wayne Douglas and Neal Nicholls over the so-called ‘Hub loans’. In the High Court in Auckland, Justice Edwin Wylie turned down the Crown’s application for the judge to revisit three questions of law surrounding the Palmerston North …

Insurance Australia Group, whose ASX-listed shares have surged 63 percent this year, is selling its unprofitable UK operations, taking a loss of about $240 million on them in the 2013 year. The Sydney-based insurer, which runs the NZI, State and AMI insurance bands in New Zealand, will sell its Equity Red Star motor insurance business in the UK to buyout …

The New Zealand dollar fell from a nine-month high amid concerns politicians in Washington are making no progress in talks to avert the fiscal cliff, countering the impetus growth assets got from the Federal Reserve’s further quantitative easing and weighing on stocks. The kiwi dollar fell to 84.23 US cents from 84.40 cents at 5pm in Wellington yesterday. The trade-weighted …

Hot Gossip around the China traps is that Pat English will be named the inaugural director of the NZ China Council. It was openly discussed at another of those many banquets to celebrate 40 years of official relations between China and NZ this week. Chinese businesspeople praised English who is NZ’s consul in Guangzhou as well as Trade Commissioner. law coursework …

BACK TO THE FISCAL FRONT.  With the dust settling after the FOMC tweaks, market attention invariably returns to budget negotiations.  For an understanding as to how negotiations might pan out we need to look beyond macroeconomics (which tells us to simply get a deal done: sooner as opposed to later) and into game theory. “Games” like the Prisoner’s Dilemma are examples of self …

The New Zealand dollar fell from a nine-month high amid concerns politicians in Washington are making no progress in talks to avert the fiscal cliff, countering the impetus growth assets got from the Federal Reserve’s further quantitative easing and weighing on stocks. The kiwi dollar fell to 84.23 US cents from 84.40 cents at 5pm in Wellington yesterday. The trade-weighted …

Wall Street declined as US House Speaker John Boehner renewed concern about the lack of progress in talks aimed at preventing US$600 billion in tax increases and spending cuts taking effect on January 1. “Unfortunately, the White House is so unserious about cutting spending that it appears willing to slow-walk our economy right up to the ‘fiscal cliff,'” Boehner told a …

Chief US Negotiator Barbara Weisel confronted charges that the TPP negotiations are not transparent during Wednesday’s TPP press conference. write my paper “We all have done as much as we can to meet with the stakeholders and this includes not just meetings at the round, but regularly in our own capitals to try to ensure that the agreement we have achieved responds …