Steel & Tube confirms guilty plea on steel mesh misrepresentation charges
Nov. 29 (BusinessDesk) - Steel & Tube Holdings has confirmed that it pleaded guilty to 24 charges laid against it by the Commerce Commission for making false and misleading representations about its steel mesh products. Interim chief executive Mark Malpass said in a statement...
Anadarko to leave NZ as cheap oil undermines case for 'frontier' investments
By Paul McBeth Nov. 28 (BusinessDesk) - Texas-based energy explorer and producer Anadarko plans to leave New Zealand, with persistently low oil prices making marginal investments in distant areas less appealing. The company's local branch has already scaled back its exposu...
ASB restates capital ratios after miscalculation puts it out of compliance
By Paul McBeth Nov. 28 (BusinessDesk) - ASB Bank, the local arm of Commonwealth Bank of Australia, has restated its reported capital ratios after a miscalculation meant it fell short of compliance for the better part of a year. In September, the Auckland-based lender disco...
Augusta lifts offer in revised bid for NPT management contract
By Paul McBeth Nov. 28 (BusinessDesk) - Augusta Capital has hiked its offer to buy the management contract for NPT in a revised offer to run the listed property owner, having been rebuffed last year and forced to win over its fellow NPT shareholders to install a new board. ...
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