Business
Infrastructure
Downer, Visionstream win $450M of Chorus maintenance contracts
By Paul McBeth May 14 (BusinessDesk) - Chorus has hired Downer EDI and Cimic Group's Visionstream to maintain its copper and fibre telecommunications network for the next three years at a cost of about $450 million. The new contracts cut out Broadspectrum, which along with...
Infrastructure
UPDATE: Infratil, Brookfield purchase values Vodafone NZ at $3.4 billion
(Updates to add detail, financials in paragraph seven) By Rebecca Howard May 14 (BusinessDesk) - Vodafone Group has sold Vodafone New Zealand to a consortium comprising Infratil and Canada's Brookfield Asset Management for an enterprise value of $3.4 billion, it said in a...
Economy
Jones defiant, apologetic over Provincial Growth Fund politics
By Pattrick Smellie May 13 (BusinessDesk) - Regional Economic Development Minister Shane Jones mixed defiance with apology for his handling of the Provincial Growth Fund during a briefing intended to demystify the process by which funds from the $3 billion fund are managed....
Finance
Reserve Bank warns consultation on bank capital ends this week
By Jenny Ruth May 13 (BusinessDesk) - The Reserve Bank says it has received 90 formal submissions on its proposal to near double the minimum amount of tier 1 capital banks have to hold and is warning that submissions close this Friday. Meanwhile, ASB Bank’s Australian paren...
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