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DNZ annual earnings fall 14 percent, signals $80M capital raising for new acquisitions

DNZ Property Fund, a diversified property investor, reported a 14 percent fall in annual earnings and plans to raise $80 million in a placement to institutional investors and a share purchase plan to help pay for two new acquisitions. Distributable profit, property investors’ favoured measure of earnings which strips out unrealised movements in the value of their portfolios, fell to …

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NZ dollar weakens ahead of Federal Reserve comments on stimulus

The New Zealand dollar weakened against its US counterpart amid speculation growth in the world’s largest economy may spur the Federal Reserve to reduce stimulus, known as quantitative easing. The kiwi fell to 81.56 US cents from 81.82 cents at 5pm yesterday. The trade-weighted index was little changed at 77.15 from 77.10 yesterday. Investors are looking to Federal Reserve Chairman …

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While you were sleeping, Bullard lifts stocks

Wall Street gained, touching records, after Federal Reserve Bank of St. Louis President James Bullard said the central bank should maintain its current bond-buying program to help bolster growth. In a speech in Frankfurt, Germany, Bullard recommended the Fed “continue with the present quantitative easing program, adjusting the rate of purchases appropriately in view of incoming data on both real …

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Day 5: Searching for Venice

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Day 4: LA Bound

By Brierley Penn Boarding the bus to Andrew’s Air Base at 7am this morning was a notably jaded delegation. After three days of networking, conferencing, 6am starts and a little bit of sightseeing, the group was understandably looking forward to the relative luxury of a five hour sleep on the plane trip to LA. However, in Washington D.C. a trip …

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Day 3: Visiting Olympus

After both an interesting and thought provoking first day of the Partnership Forum, the second and final session of the program began with an address from our Trade Minister Tim Groser. He set the stage for a day of discussion focused more towards the public sector with trade, security and foreign policy atop the agenda. Two plenary sessions which incited …

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Huka lodge owner Alex van Heeren ‘misrepresented’ former partner Michael Kidd over an indemnity agreement – South African High Court judgment

The South African High Court has issued a damning judgment saying Huka Lodge owner Alex van Heeren made deliberate misrepresentations to his former business partner Michael Kidd inducing him to sign away his rights to a share in worldwide assets claimed to be worth $US25million – $US30 million. Judge Kathy Satchwell has declared void the January 18, 1991 indemnity agreement …

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