Contact Energy needs to raise its return on capital closer to international norms, but sees little capacity to do so by raising electricity prices in the next two or three years, says chief executive Dennis Barnes. In a briefing following the announcement of an $88 million tax-paid profit for the six months to Dec. 31, up 29 percent on the …

The New Zealand dollar fell in local trading after reports China’s quarantine administration destroyed three different brands of locally-produced milk powder, reigniting fears about the quality of the country’s biggest export. The kiwi shed half a US cent in the local session on the initial reports, recovering by 5pm to trade at 84.30 US cents from 84.51 cents this morning …

Shares in APN News & Media plunged to a record low in New Zealand trading after the media group’s chief executive, chairman and three independent directors walked over strong-arm tactics by its two biggest shareholders to stop a capital raising. The shares dropped 14 percent to a record-low 31 cents, with just 12,000 shares changing hands before trading opens in …