The New Zealand dollar held gains against the euro and pound as investors await central bank meetings in Europe and the UK with that region struggling to recover from its sovereign debt crisis. The kiwi rose to 65.60 euro cents at 5pm in Wellington from 65.30 cents yesterday and held near a record at 55.69 British pence from 55.10 pence. …

Contact Energy and Australian parent Origin Energy are mulling whether to redeem some $2.03 billion of hybrid notes after Standard & Poor’s changed its criteria for assessing the equity content of such instruments. Hybrid securities typically have characteristics of both debt and equity and S&P’s revisions relate specifically to those currently eligible to be classified as having high (up to …

Television New Zealand and Sky Network Television may have to wait up to six years before their Igloo budget pay-TV service gets into the black, according to the state-owned broadcaster. The Auckland-based broadcaster doesn’t have any specific sales targets for the first 12 months, and Igloo will take “a number of years to build a subscriber base and to reach …