Fletcher Building chief executive Mark Adamson, in the job for just four months, has embarked on a review of the company’s business model aiming to find $70 million a year in additional earnings from centralising operations. Adamson got approval from his board yesterday for the plan that is likely to see hundreds of jobs cut across Australia and New Zealand. …

New Zealand producers’ input and output prices both fell in the fourth quarter, with falling prices for electricity cited as the biggest contributor. Producers’ output prices fell 0.1 percent in the final three months of 2012, to be 0.8 percent lower than in the fourth quarter of 2011, according to Statistics New Zealand. Input prices fell 0.3 percent and were …

National Australia Bank is calling in $449.7 million of BNZ Income Securities perpetual shares which pay a coupon of 9.89 percent, the highest of any hybrid security traded on the NZX Debt Market. The perpetual non-cumulative shares were issued on March 28, 2008, when prevailing interest rates were much higher. For example, New Zealand two-year swaps have tumbled more than …