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Wellington property investor Caniwi Capital has bought and leased back seven of  nine New Zealand properties housing Inghams Enterprises chicken farming operations in a $57 million deal that releases capital for Texas Pacific Group, the US private equity firm that paid A$880 million for the Australasian Inghams operation in March last year. The transaction represents the New Zealand leg of TPG’s …

Struck off financial adviser Andrew Robinson, who is separately accused of stealing investor funds, has been ordered to pay $2.56 million in damages plus costs to an investor over a series of negligent and misleading deals. In the Auckland High Court, Justice John Fogarty made the order against Robinson, a former Sunday Star-Times columnist and adviser to Neville Mace and his family trust, over “six disastrous …

ERoad, which provides electronic fleet tracking and road user pays management services, would look at acquisitions in Australia and the US to boost its market share once it completes an initial public offer of up to $49.5 million next month. The Auckland-based company wants to raise $40 million in new capital to spend on expanding its US operations and Australian base. Of that, $3 million …

Prices of dairy products may extend this year’s 34 percent slump, economists say, adding to pressure on Fonterra Cooperative Group to lower its milk payout forecast and taking some of the steam out of New Zealand’s economic expansion. The GDT Price Index dropped 8.9 percent to the lowest level since December 2012 in the latest GlobalDairyTrade auction, the 10th decline in past …

New Zealand inflation held steady in the second quarter compared to the first-quarter pace as gains in prices of electricity, home rentals and new houses were partly offset by cheaper package holidays, vehicles and liquor. The New Zealand dollar fell as traders mull the future interest rate track.  The consumers price index was unchanged at 0.3 percent, for an annual …

 Dairy product prices fell to the lowest level since December 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and anhydrous milk fat. The GDT price index dropped 8.9 percent to US$3,309 a tonne, from US$3,595 a tonne two weeks ago. Some 36,656 tonnes of product was sold, down from 41,513 tonnes two weeks ago. ‘New Zealand’s regional …

LanzaTech New Zealand, which counts US billionaire clean-tech investor Vinod Khosla as its biggest shareholder, posted a wider full-year loss as the company scales up technology that uses microbes to convert industrial waste gases into fuel-grade ethanol and other useful chemicals.  The Chicago-based biotech firm reported a loss of $40.5 million in calender 2013, from a loss of $35.1 million a year …

New Zealand house sales fell in June from a year earlier, led by properties of $400,000 or less, indicating the Reserve Bank’s restrictions on low-equity loans are curbing demand at the cheaper end of the market. Sales fell 6.1 percent in June from the same month of 2013 to 5,763 and were down 12.3 percent from May, according to the Real Estate Institute. …

The New Zealand dollar held above 88 US cents and may test its post-float high this week as traders prepare for testimony from US Federal Reserve chair Janet Yellen and local data that’s expected to confirm inflation is accelerating. The kiwi traded at 88.03 USA cents at 8am in Wellington, little changed from the New York and Wellington closes on Friday last week. The …

US Federal Reserve Chair Janet Yellen’s testimony to Congress will offer a key focus in the coming days, while investors will also try to gauge whether earnings support the improved outlook for the world’s biggest economy. On Tuesday, Yellen is scheduled to deliver her semi-annual policy testimony to the Senate Banking Committee, and the next day to the House Financial …