The main elements of the Labour and Green parties’ policies to reform the electricity market could be in place within a year or two, although ironing out the detail would take considerably longer, says First NZ Capital in a report on the Meridian Energy share float. The report values Meridian at $2 a share on a discounted cashflow basis, but …

Guinness Peat Group has sold its stake in Tower for about $118 million leaving the UK threadmaker Coats as its sole investment and signalling the end of its portfolio divestment. GPG sold about 69.6 million shares at $1.70 apiece, the company said in a statement to the NZX. That’s 5.6 percent below the level they traded On Friday. Today the …

The New Zealand dollar weakened as investors favoured less risky currencies amid rising political uncertainty ahead of a potential US government shutdown as Congress fails to reach agreement on the budget. The kiwi slipped to 82.61 US cents from 82.80 cents at the New York close and 82.90 cents at the 5pm Wellington close on Friday. The trade-weighted index fell …