Solid Energy says it will cut 105 jobs, adding to 440 already shed as the unprofitable state-owned coal miner shrinks its focus back to coal after piling on debt as part of a grandiose expansion strategy. Solid Energy has been in talks with its banks and Treasury officials as part of a wide-ranging review of the business, which posted a …

The Reserve Bank has confirmed it intervened in foreign exchange markets in an attempt to push the kiwi lower, without giving any details on the size of its action, having already given a serve to the counter-balancing strength in the housing market earlier today. “That intervention will not materially change the level of the exchange rate but could take potentially …

Following a bookbuild with the country’s major institutional investors today, Finance Minister Bill English has announced that Mighty River Power will be priced at $2.50 a share. The government is set to net $1.7billion from the partial privatisation whilst retaining a controlling 51% stake in the company. More than 400,000 New Zealanders registered their interest in the issue, with 113,000 …