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Property for Industry, the listed industrial property investor, reported a 7.5 percent fall in annual earnings as the company rejigged its portfolio with some asset sales and dealt with vacancies in the year, though management is optimistic about the coming year. Distributable profit, the favoured measure for property companies because it strips out unrealised changes in the fair value of …

The New Zealand dollar fell from record highs on a trade-weighted basis and against the pound on speculation it may have run too hard after a string of strong economic figures. The kiwi dollar traded at 54.40 British pence, little changed from late New York trading on Friday and down from a post-float high of 55.08 pence at the end …

Economic growth worldwide, deemed “still too weak”, remained a key concern at a two-day meeting of Group of 20 finance ministers and central bank governors, which stopped short of asking countries to refrain from targeting exchange rates. As central banks of the US, Europe and Japan have stepped in to help revive their economies by effectively weakening their currencies, other …

Financial Times: A boardroom battle has broken out at APN News & Media following a decision by the company’s largest shareholder to push for the removal of its chief executive and oppose a rights issue. Shares in the Australasian media group APN were suspended on Friday when Ireland’s Independent News & Media said it wanted the removal of Brett Chenoweth as a director and …

Infratil and its manager Morrison & Co say no decision has been made to sell specific assets such as Z Energy of its NZ Bus unit. how to increase penis size The NZ Herald reported today that Infratil has been reviewing its capital structure and both Z Energy and NZ Bus could be sold to free up capital for it …

State-owned electricity company MightyRiverPower is dissolving a five-year-old investment partnership in American and German geothermal developments, taking 100 percent control of development opportunities in Chile and a 20 percent interest in a Californian geothermal producer. The move comes ahead of next Thursday’s half-year profit announcement for the company, which is slated for partial privatisation by mid-year, although those plans may …

Investors in the frozen Hubbard Management Funds will get all of their capital back, though anyone who’s already been paid more than what they put in won’t get anything more. how to write a college essay Statutory managers Graeme McGlinn, Richard Simpson and Trevor Thornton of Grant Thornton said 208 of the 300 investors who faced a potential loss will …

New Zealand retail sales recorded the fastest growth in six years in the fourth quarter, adding to signs of a rebound in consumer spending and sentiment, and sending the New Zealand dollar to its highest level in five years. The total volume of retail sales rose 2.1 percent, seasonally adjusted, in the final three months of 2012 and rose 2.9 …

OceanaGold Corp’s after-tax profit for the 2012 calendar year more than halved from the previous year despite a 55 percent increase in gold production in the fourth quarter compared to the previous three months to Sept. 30. The Melbourne-based New Zealand and Filipino gold miner declared a tax-paid profit of US$20.67 million, down from US$44.17 million the previous year, reflecting …

Convicted Capital + Merchant fraudsters Wayne Douglas and Neal Nicholls have pleaded guilty to Securities Act charges of making untrue statements in offer documents laid by the Financial Markets Authority. The guilty pleas by the former directors of the failed finance company follow those of fellow directors Robert Sutherland and Colin Ryan, who are to be sentenced in Auckland next …