State-owned Meridian Energy sold its Energy for Industry subsidiary to Central Otago-based Pioneer Generation in a transaction worth more than $50 million. Energy for Industry, which was established in 2000, provides energy management services to companies, according to its website. The sale is part of Meridian’s plan to divest non-core subsidiaries, it said. Meridian is one of the state-owned power …

Rakon, which makes crystal oscillators used in mobile phones and navigation systems, cut its full-year earnings guidance because of sales delays and thinner margins. Earnings before interest, tax, depreciation and amortisation would be $8 million to $12 million in the year ending March 31, down from its August guidance of $14 million to $16 million. The downgrade is “due to …

Sam Morgan, who made his fortune when Trade Me was sold to Fairfax Media, has trimmed his holding in Xero, taking advantage of a share price that has soared by 179 percent this year. mac os x 10.4 download Morgan, a director of Xero, sold 1 million shares at $7.40 apiece in an off-market transaction to New Zealand institutions. The …

The New Zealand economy grew at a slower pace than expected in the September quarter as increased building activity provided a buffer from deteriorating mining, agricultural and manufacturing sectors. The kiwi dollar fell on the report. Gross domestic product grew 0.2 percent to $36.28 billion in the three months ended Sept. 30, from a 0.3 percent pace in the June …

Guinness Peat Group founder Ron Brierley has sold another 5 million tranche of shares in the investment firm, even as it’s rated an average ‘outperform’ by analysts. autocad 2014 for sale The veteran corporate raider sold the shares yesterday at 47 Australian cents apiece for some A$2.35 million, or $2.95 million in New Zealand dollar terms, according to a statement …

SkyCity Entertainment Group, which operates hotels and casinos across Australia and New Zealand, has sold its half-share of Christchurch casino and taken full ownership of Queenstown’s gaming centre. cheap custom essay The Auckland-based company sold its 50 percent share in Christchurch casino for $80 million to tourism operator Skyline Enterprises and bought Skyline’s 40 percent stake in the Queenstown operation …

The New Zealand dollar fell as global risk sentiment abated and ahead of figures expected to show the economy slowed in the third quarter. The kiwi dollar fell to 83.62 US cents from 83.91 cents at 5pm in Wellington yesterday. The trade-weighted index fell to 74.56 from 74.75. Gross domestic product probably rose 0.4 percent in the three months ended …

The New Zealand dollar fell below 84 US cents as investors flocked the euro and Swiss franc after Standard & Poor’s upgraded its Greek credit rating and as optimism was stoked on the prospect US legislators will cut a deal on the fiscal cliff. The kiwi fell to 83.88 US cents at 5pm in Wellington from 84.15 cents at 8.30am …

anada’s Public Sector Pension Investment Board is looking to capitalise on favourable growing conditions and access to Asian markets having taken a 30 percent stake in the central North Island’s Kaingaroa forestry estate. The Canadian fund sees the 178,000 hectare Kaingaroa estate as an “attractive asset” that has been “very successfully” managed by Timberlands for many years, spokesman Mark Boutet …

New Zealand’s annual current account deficit narrowed as expected in the third quarter, driven by a decline in the trade surplus and as overseas investors earned less from their local investments. The current account gap was $9.89 billion in the year ended Sept. 30, from a deficit of $10.09 billion three months earlier, according to Statistics New Zealand. An annual …