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Brookfield Multiplex, the Australian firm whose New Zealand developments included the Sylvia Park Shopping Centre and the Pegasus Town development, says a lack of new projects in a tough market drove the decision to liquidate its local unit. Brookfield Multiplex Constructions (NZ) appointed liquidators on Dec. 4 though it had largely ceased operating in 2011, when it made most of …

writing services Qantas Airways, Australia’s dominant airline, has ring-fenced $10.3 million of tax losses to cover any penalties in its disputed tax case with the Inland Revenue Department over interest deductions claimed on convertible notes. The airline’s New Zealand subsidiary Jetconnect, which manages the group’s trans-Tasman passenger schedule, elected to use “tax losses within the Qantas Group against the shortfall …

The New Zealand dollar rose against the greenback, even as US stocks fell, in what may be a run of safe-haven buying that’s also lifted the Australian dollar. The kiwi rose to 83.55 US cents from 82.94 cents at 5pm in Wellington yesterday. The trade-weighted index climbed to 75.19 from 74.82. Stocks on Wall Street fell ahead of the US …

Wall Street retreated, pushing the Standard & Poor’s 500 Index from its five-year high, as investors gear up for the fourth-quarter earnings season. Profits at S&P 500 companies increased an average 2.9 percent in the fourth quarter, according to data compiled by Bloomberg. Excluding financial companies, earnings rose 0.5 percent. Alcoa is the first company to report after the market …

New Zealand shares rose, pushing the NZX 50 Index to a new five-year high as investors cheered Ryman Healthcare’s performance by pushing the retirement village operator to a record close. Rival Metlifecare also advanced. The NZX 50 rose 9.803 points, or 0.2 percent, to 4084.84, the highest since December 2007. Within the index, 28 stocks rose, 10 fell and 12 …

he New Zealand dollar may extend its decline against its trans-Tasman counterpart as Australia’s currency rallies on rising commodity prices and the prospect of a stronger Chinese economy. The kiwi fell to 79.17 Australian cents at 5pm in Wellington from 79.35 cents on Friday in New York. It traded at 82.94 US cents from 83.02 cents at 8am and 83.13 …

New Zealand’s ministers and officials have been given a new set of rules outlining how they can talk about listed companies as the government gets ready to kick off its partial privatisation programme this year. Public service bosses, government ministers and their staff, and state sector spin doctors and legal teams have been told they need to treat information about …

Trading on the NZX’s cash markets jumped by a quarter in December, led by a surge in turnover of stocks as the NZX 50 Index rounded out its best year since 2004. Total trades rose 24.3 percent to 78,408 last month from a year earlier, while the value of trading soared 61 percent to $3.6 billion. Equity transactions climbed 27 …

The New Zealand dollar was little changed above 83 US cents as the US debt ceiling remains in focus and with little local data to drive the currency forward. The New Zealand dollar traded at 83.08 US cents from 83.18 cents in New York on Friday. The trade-weighted index eased to 74.88 from 74.99. On Saturday, US President Barack Obama …

Fletcher Building, the country’s biggest listed company, sold its CSP Coating galvanised steel unit to Hamilton-based Perry Group as it looks to replace some of its treated metal products with imports. cigars for sale online Perry Metal Protection, a subsidiary of the family-owned group, has lodged an application with the Commerce Commission to buy the Fletcher unit for an undisclosed …