High Court freezes assets of Securities Commission

Hanover-Finance-Mark-HotchinThe Securities Commission got for itself a High Court order which has frozen assets linked to the ex-boss of Hanover Finance, Mark Hotchin.

The application of the regulator got granted without any notice being given to Hotchin on Friday, when he has the intention to apply for revocation of the order, according to a statement made by the commission.

NZ's Fletcher Building offers $740mln to buy Crane

Fletcher-BuildingFletcher Building, the largest company listed in New Zealand, has offered money worth about $740 million for purchasing the Crane Group, an Australian firm for the purpose of plumbing and building supplies, and is apparently out to diversify and broaden its business.

Fyfe hopeful for an alliance with Virgin Blue

Rob-FyfeThe head of Air New Zealand, Rob Fyfe is looking to hear from regulators this week regarding the airline's alliance deal with Virgin Blue.

The suggested trans-Tasman alliance with Virgin Blue includes a collaboration on the upcoming route and product planning, code sharing and the often flyer programme advantages.

Two new hotels to be projected by Hilton

Hilton-Hotels-ResortsThere has been an announcement made by Hilton Worldwide that the management has signed agreements for two new Hilton Hotels & Resorts properties. This was done at the embattled $1 billion Kawarau Falls development and resort.

Receivers- not ready to take care of ruined mines

Pike-RiverReceivers of Pike River Coal Ltd have stated in clear cut terms that they are not able to own up responsibility to take care of destructed coal mine. Few days back series of mine explosions occurred near Greymouth which lies on the West Coast. It was severe explosion which claimed huge casualties and financial loss.

Drought in Waikato is still severe

David-CarterTill now the whole area in Waikato and Ruapehu District has been declared drought affected regions. Farmers suffer from water scarcity and shortage of fund to reconstruct their home and tack care of agricultural products.

They suffer from malnutrition and depression as well. A speck of bread and few drops of drinkable water can bring back smile to dried faces of young children of these farmland owners and needy farmers.

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