Japanese financial giant Bank of Tokyo is opposing the debt restructuring deal announced on Oct. 1 to help get state-owned coal miner Solid Energy back on its feet, but may be forced to take the deal anyway, papers lodged with the Companies Office show. The Auckland branch of Bank of Tokyo-Mitsubishi UFJ is recorded as the second-largest lender to Solid …

The building boom looming in Christchurch and Auckland in the next three years will inevitably put upward pressure on wages and prices in the construction sector and could spill over into general inflation, driving up interest rates and the kiwi dollar, the Reserve Bank says. The Auckland Housing Accord aims to free up enough land for 39,000 homes in the …

Shares in Xero topped $20 apiece when trading opened today, valuing the cloud-based accounting software developer at $2.38 billion, more than casino and hotel operator SkyCity Entertainment Group and dominant pay-TV firm Sky Network Television. The shares rose 2.5 percent to $20.20, a new intraday record, after the Wellington-based company announced yesterday that it raised $180 million in new capital, …