Investors in the frozen Hubbard Management Funds will get all of their capital back, though anyone who’s already been paid more than what they put in won’t get anything more. how to write a college essay Statutory managers Graeme McGlinn, Richard Simpson and Trevor Thornton of Grant Thornton said 208 of the 300 investors who faced a potential loss will …

New Zealand retail sales recorded the fastest growth in six years in the fourth quarter, adding to signs of a rebound in consumer spending and sentiment, and sending the New Zealand dollar to its highest level in five years. The total volume of retail sales rose 2.1 percent, seasonally adjusted, in the final three months of 2012 and rose 2.9 …

OceanaGold Corp’s after-tax profit for the 2012 calendar year more than halved from the previous year despite a 55 percent increase in gold production in the fourth quarter compared to the previous three months to Sept. 30. The Melbourne-based New Zealand and Filipino gold miner declared a tax-paid profit of US$20.67 million, down from US$44.17 million the previous year, reflecting …

Convicted Capital + Merchant fraudsters Wayne Douglas and Neal Nicholls have pleaded guilty to Securities Act charges of making untrue statements in offer documents laid by the Financial Markets Authority. The guilty pleas by the former directors of the failed finance company follow those of fellow directors Robert Sutherland and Colin Ryan, who are to be sentenced in Auckland next …

Steel & Tube Holdings, the building products firm whose majority shareholder exited its holding in October, posted a 14 percent gain in first-half profit and expects second half results to exceed those in the first six months of the year. Profit rose to $7.29 million, or 8.3 cents a share, in the six months ended Dec. 31, from $6.37 million, …

ANZ New Zealand, the country’s biggest lender, reported a 25 percent fall in first-quarter profit as the local unit of Australia & New Zealand Banking Group recorded softer margins, even as it grabbed more market share. Net profit dropped to $300 million in the three months ended Dec. 31, from $400 million a year earlier, according to ANZ New Zealand’s …

Hallenstein Glasson, which runs the clothing chains that make up its name, lifted first-half profit 15 percent with a “robust” sales period in New Zealand. The Auckland-based company said net profit will be between $10.3 million and $10.5 million in the six months ended Feb. 1, from $9 million a year earlier. That’s just ahead of Forsyth Barr’s forecast of …

Michael Hill International, the jewellery chain that bears its founder’s name, posted a 5.9 percent gain in first-half profit on Australian sales growth and said it is still battling tax departments on both sides of the Tasman over its 2008 restructuring. Net profit rose to $27.8 million, or 7.23 cents per share, in the six months ended Dec. 31, from …

The New Zealand Superannuation Fund sold 7.6 percent of Auckland International Airport for a 6 percent discount, raising $276 million and benefiting from a share price near a five-year high. The selldown was initiated by Morrison & Co Funds Management, which managed the investment for the fund. The sale was managed and underwritten by UBS New Zealand. The shares were …

Optimism about equity valuations following a surprise takeover of HJ Heinz was tempered by reports showing economies in Europe and Japan were weaker than expected. Shares of HJ Heinz soared, last up 19.8 percent to US$72.4,5 as Warren Buffett’s Berkshire Hathaway and 3G Capital agreed to buy the ketchup maker for US$72.50 a share, or US$28 billion including debt. The …