Business

Illustration: John Shakespeare

'Pompous old farts' get better of Fletcher chief

There has been carnage across the ditch where New Zealand's biggest construction group, Fletcher Building, announced its second profit downgrade in a matter of months despite the country experiencing a building boom.

Illustration: John Shakespeare

Harvey wins as Tinkler's horse empire sold

The last patch of Nathan Tinkler's thoroughbred racing empire has now been sold, but it is not clear whether there will be any beneficiaries other than retail billionaire Gerry Harvey.