Power prices could be expected to rise if the Labour and Green parties’ electricity policy is adopted using the high historic cost of building some of the country’s largest hydro dams, a research paper prepared for Business New Zealand claims. Produced by the Wellington consultancy Sapere, which advised on the government’s 2010 electricity reforms, the paper also doubts the Labour-Greens …

US hedge fund Libra Advisors will take a $12 million stake in Rubicon in a private placement to shore up the company’s funding position and support its future commitments to forestry biotech firm ArborGen. The New York-based investor will buy 29.3 million shares at 41.29 cents per share, the volume weighted average price over the last 10 trading days, Rubicon …

The New Zealand dollar advanced after a key US employment report pointed to a weaker economy than expected and as risk appetite returned to the market. The kiwi touched 84.95 yen over the weekend, its highest level this year, and was trading at 84.81 yen at 8am in Wellington from 83.89 yen at 5pm on Friday. The local currency was …