Investors in Hubbard Management Funds are likely to get their initial distributions in the first three months of next year after the High Court settled on how to split the funds. Justice Lester Chisholm has directed statutory managers Trevor Thornton, Richard Simpson and Graeme McGlinn of Grant Thornton to split HMF into two pools, the first being the principal amount …

The New Zealand dollar held its overnight gains in the local trading session as traders prepare for Reserve Bank governor Graeme Wheeler’s maiden monetary policy statement, where he’s expected to keep interest rates on hold. The kiwi traded at 82.47 US cents at 5pm in Wellington from 82.43 cents at 8am, up from 82.29 cents yesterday. The trade-weighted index increased …

A2 Corp, which markets milk products with a protein variant claimed to have health benefits, plans to raise $20 million in a placement in a bid to accelerate growth in its UK joint venture and Chinese infant formula businesses. The capital raise coincides with its three major shareholders selling down their stakes to boost liquidity to allow a shift to …

The volume of building activity recorded its biggest gain in 10 years in the third quarter, led by construction work in Canterbury and the upper North Island. Building activity rose 9.6 percent in the third quarter and was valued at $2.9 billion in unadjusted terms, according to Statistics New Zealand. Residential building work made up 56 percent of the total. …

Fletcher Building, the country’s biggest listed company, isn’t abusing its position as the Earthquake Commission’s go-to guy for home repairs in Canterbury, and is providing “satisfactory value for money.” EQC chairman Michael Wintringham told Parliament’s finance and expenditure committee that Fletcher’s role managing the repair programme has met the government-backed natural disaster insurer’s criteria around cost, quality, timeliness and safety. …

Synlait Milk’s Chinese and New Zealand shareholders still want to list the company’s shares on the NZX, but there will be no float in the near future, says the Dunsandel milk processor’s chief executive, John Penno. “At some stage, it (a share float) is on the agenda in that both shareholders believe long term it’s the best place to have …

Synlait Milk’s Chinese and New Zealand shareholders still want to list the company’s shares on the NZX, but there will be no float in the near future, says the Dunsandel milk processor’s chief executive, John Penno. “At some stage, it (a share float) is on the agenda in that both shareholders believe long term it’s the best place to have …

The New Zealand dollar followed its Australian counterpart higher after the Reserve Bank of Australia cut interest rates in line with expectations and soothing fears the world’s 12th biggest economy could be in for a big fall as its mining boom peaks. The kiwi increased to 82.243 US cents at 8am in Wellington from 82.29 cents yesterday, following the Australian …

 US House Speaker John Boehner tabled a plan to avert the fiscal cliff that left out tax increases for the wealthy and was rejected within an hour by the Whitehouse The plan also highlighted divisions among factions of the Republican Party. Boehner’s plan partly entails targeting US$800 billion in revenue over a decade from overhauling the tax code, closing loopholes …