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Shares in private hospital group Acurity Health jumped to an 11-month high in early trading today as almost 3.3 percent of the company’s shares on issue changed hands. The stock climbed 36 percent $5.50, the highest since November last year, on turnover of about $3.3 million. That’s a 3 percent premium to Acurity’s net tangible assets, valued at $5.34 according …

New Zealand’s central bank is expected to keep interest rates on hold next week as new lending restrictions and a higher New Zealand dollar take some pressure off the need to hike early next year in the face of a resurgent local economy. The Reserve Bank will keep the benchmark interest rate at a record low 2.5 percent when it …

Auckland’s 45 year-old maximum security prison at Paremoremo is to get a makeover under a public-private partnership contract that is expected to be worth more than $200 million. Corrections Minister Anne Tolley announced the planned upgrade today, saying the facility needed to be modernised to improve the ability to manage difficult prisoners, provide better mental health care, and to take …

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Infrastructure investor Infratil and the New Zealand Superannuation Fund have taken cornerstone stakes in retirement village operator and developer Metlifecare, announcing purchases equivalent to 36.9 percent of the company and taking their joint holdings to 39.8 percent. Infratil took the larger stake, 19.9 percent, while the Super Fund topped up its existing holding by a further 17 percent to 19.9 …

Kirkcaldie & Stains, Wellington’s upscale department store, has abandoned plans to split its retail and property businesses and reported a widening of its annual pre-tax loss. The Wellington-based company’s pre-tax loss more than doubled to $2.38 million in the 12 months ended Aug. 31 from $1.08 million a year earlier, it said in a statement. Still, the company posted a …

Hellaby Holdings, the conglomerate with interests ranging from footwear to oil and gas services, is still hungry for acquisitions after making two new investments this year, and sees future earnings growth in its rejigged portfolio. Chief executive John Williamson told shareholders at today’s annual meeting in Auckland that the company kicked off a reshaping of its investment portfolio in 2013 …

Port of Tauranga, the country’s biggest export port, expects annual earnings to be broadly in line with a year earlier, and has seen a lag in dairy shipments after the false botulism scare in August. The company forecasts annual earnings of between $77 million and $80 million in the 12 months ending June 30 2014, chief executive Mark Cairns told …

Bathurst Resources has finally secured resource consents for its contentious Escarpment coal mine on the West Coast’s Denniston Plateau. The Environment Court today granted consents for the project, ending a projected battle with environmentalists opposing the proposed coal mine, Bathurst said in a statement. The shares rose 1.8 percent to 17.4 cents in trading after the announcement. “We are pleased …

Metlifecare, whose cornerstone shareholder Retirement Villages Group is in the process of selling its stake, sees the upper North Island as its focus for new development opportunities. Managing director Alan Edwards told shareholders at today’s annual meeting in Auckland that the 2014 financial year will be one of consolidation after last year’s merger with Vision Senior Living and RVG’s Private …