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Shares in telecommunications network operator Chorus jumped 12 percent after Communications Minister Amy Adams shunted out threatened price controls until the end of 2015 in a reprieve for the taxpayer-subsidised investors in the national fibre network. spy app for android The stock climbed to $3.20 in early trading on the NZX on turnover of $3.2 million from $2.86, recovering much …

Wellington International Airport, which is co-owned by Infratil and Wellington City Council, is extracting excessive profits by targeting higher returns than it should, according to the Commerce Commission. The transport hub is likely to recover between $38 million and $69 million more than it needs to for a reasonable return between 2012 and 2017, the antitrust regulator said in a …

Guinness Peat Group, the investment firm winding itself down, netted A$48.4 million from the exit of two Australian investments this week. The company sold its 47 percent stake in aluminium fabrication group Capral and its 7.7 percent holding in property group AV Jennings in on-market sales, it said. The Capral investment was sold for A$40.4 million at 22 Australian cents …

European Central Bank president Mario Draghi sent equities and the euro lower with comments that he’s concerned about the recent strength of the region’s common currency, signalling a potential rate cut. Draghi made the comments after policy makers of the ECB decided, as was widely expected, to keep the central bank’s benchmark interest rate steady at a record low 0.75 …

The Financial Markets Authority is preparing to file civil actions against the six directors of the failed finance company, Strategic Finance, saying it’s concluded they are “likely to have breached the Securities Act”. The apparent breaches were in a prospectus, advertisement and investment statement issued between March and August 2008. Strategic went into receivership in March 2010 owing approximately 11,000 …

New Zealand’s unemployment rate fell from a 13-year high in the last three months of 2012 as people stopped looking for work and the participation rate shrank to its lowest level in almost nine years. The unemployment rate fell 0.4 of a percentage point to 6.9 percent in the December quarter, as the number of people leaving the workforce fell …

Chorus’ executive in charge of building its tax-payer funded broadband programmes will leave the telecommunications network operator at the end April. General manager of network build Chris Dhyrberg decided to resign from Chorus over Christmas, and will stay on for another three months, the company said in a statement. Dhyrberg has been responsible for the roll-out of the ultra-fast broadband …

One of New Zealand’s best-known commercial construction firms, Mainzeal, placed its operating business in receivership as a combination of leaky homes suits and a botched supply chain from China combined to take the company down. sms spy android In a dramatic afternoon on New Zealand’s national day, Waitangi Day, Mainzeal Property and Construction (MPC) was placed in the hands of …

Equities advanced on both sides of the pond as a deal led by Michael Dell to take Dell private and a potential bid by Liberty Global for Virgin Media underpinned confidence in stock valuations. Shares of Dell rose, last up 0.9 percent to US$13.395, after founder and CEO Michael Dell announced a US$24.4 billion leveraged buyout. The transaction will be …

Prices of dairy products rose in Fonterra’s latest GlobalDairyTrade auction, the first since news emerged last month that small traces of a nitrate inhibitor had been found in some of the company’s milk powder. The GDT-TWI Price Index rose 2.4 percent compared to the last sale two weeks ago, the fourth straight gain. The average winning price rose to US$3,598 …