The manager of Kiwi Income Property Trust didn’t give investors any more clues on a proposal to bring its contract inhouse, but did share growing optimism about state of retail and Auckland office space. Kiwi Income Properties Ltd chairman Mark Ford told today’s annual meeting the proposal by Commonwealth Bank of Australia to internalise the management of the property trust …

Xero, the cloud-based accounting firm, burned through more cash last quarter as the company’s rapid expansion saw wages, advertising and marketing payments run ahead of sales. The Wellington-based company’s cash flow statement shows it was sitting on $68.8 million of cash as at June 30, down $9.4 million from three months earlier. It used $6.57 million in the first quarter …

Auckland International Airport, the country’s main gateway, isn’t extracting excessive profits as its expected earnings fall just within the regulator’s tolerance. The Commerce Commission found information disclosure regulations have had a positive influence on the airport’s behaviour and have been effective in limiting its ability to extract excessive profits, deputy chair Sue Begg said in a statement. The antitrust regulator …