Topics

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 …

Trade Minister Tim Groser heads off to Colombia this coming week to fast-track moves to open formal free trade talks with the fast-growing Latin American nation. A Colombian FTA was put on the agenda during Prime Minister John Key’s recent official visit. Groser high-lighted agricultural technology, services and niche manufacturing as the likely winners from moves to increase New Zealand’s …

MightyRiverPower shares rose 4.8 percent from their offer price in their first day of trading on the NZX as investors added to their holdings after receiving less stock than they asked for. Shares in the state-controlled power company edged up 12 cents to $2.62 from their $2.50 initial public offering price. Trading was within the offer range of $2.25 to …

Westpac Banking Corp’s New Zealand fund management arm contracted out the management of more than $650 million of its listed New Zealand stocks and property holdings to a new firm started by its employees. BT Funds Management (NZ), which has $4.6 billion of funds under management, will hand over its equity and property portfolios to Salt Funds Management, owned by …