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SkyCity Entertainment Group shares rose to the highest level in 5 ½ years after the Auckland-based casino and hotel company inked a deal to build a $402 million convention centre in exchange for increased gambling concessions. SkyCity shares rose 3.4 percent to $4.55, the highest since November 2007, after the deal was announced in Auckland by Economic Development Minister Steven …

The number of New Zealand house sales slipped from a six-year high last month, with prices deflating a little, though the national market is still being driven by the country’s two biggest cities, Auckland and Christchurch. Agents sold 7,104 houses in April, down 13 percent from March, though up by 25 percent from the same month last year, according to …

Jade Corp spin-off Wynyard Group has all but announced it will list on the NZX within the next two months, subject to the fast-growing intelligence software group’s shares being accepted by the local bourse. Chaired by former Treasury Secretary Murray Horn, Wynyard has appointed advisers and a broker to raise funds “to accelerate its international growth strategy and meet the …

Chorus, the telecommunications network operator carved out of Telecom, lifted its number of broadband connections in the first three months of the year, even as its fixed-line connections edged lower. The Wellington-based company increased its total broadband connections to 1.09 million in the three months ended March 31 from 1.08 million at the start of the quarter, with its biggest …

Chorus, the telecommunications network operator carved out of Telecom, lifted its number of broadband connections in the first three months of the year, even as its fixed-line connections edged lower. The Wellington-based company increased its total broadband connections to 1.09 million in the three months ended March 31 from 1.08 million at the start of the quarter, with its biggest …

Kiwi Income Property Trust, the owner of Auckland’s Sylvia Park Shopping Centre, reported a 15 percent fall in annual earnings due to a drop in rental income and expects to pay a smaller return to investors in 2014. Distributable earnings, the favoured profit measure for property investors which strips out unrealised movements in the value of the portfolio, fell to …

Kiwi Income Property Trust, the owner of Auckland’s Sylvia Park Shopping Centre, reported a 15 percent fall in annual earnings due to a drop in rental income and expects to pay a smaller return to investors in 2014. Distributable earnings, the favoured profit measure for property investors which strips out unrealised movements in the value of the portfolio, fell to …

The New Zealand dollar fell after a report that the US Federal Reserve is planning to slow its policy of quantitative easing, increasing the attractiveness of US dollar assets. The kiwi fell to 82.74 US cents from 82.98 cents in late New York trading on Friday. The trade-weighted index fell to 77.45 from 77.56. The US dollar rose against other …

SkyCity Entertainment Group has gained a 27-year extension to its Auckland casino licence and can add 230 slot machines and 40 gaming tables in exchange for meeting the $402 million construction, fit-out and land costs of a new convention centre in the city. The company is gaining concessions with a net present value of $316 million, according to a base …

The resiliency of Wall Street’s record run so far this calendar year has left investors comfortable that there is room to extend the gains. On Friday, the Standard & Poor’s 500 Index closed at a record 1,633.70, while the Dow Jones Industrial Average ended at a record 15,118.49. The Dow rose 1 percent, while the S&P 500 increased 1.2 percent …