Powerhouse raises A$10.2 mln in ASX listing, debuts at offer price
By Paul McBeth Oct. 12 (BusinessDesk) - Powerhouse Ventures, the Christchurch-based technology incubator, raised A$10.2 million in an initial public offering, with the shares debuting on the ASX at the offer price of A$1.07. The company sold about 9.5 million shares at A$1...
Appeal court knocks back Feltex shareholder suit
By Paul McBeth Oct. 12 (BusinessDesk) - The Court of Appeal has dismissed former Feltex Carpets shareholder Eric Houghton's long-running suit against the promoters and directors of the failed carpet-maker, saying the only conduct that could be deemed misleading or deceptive wa...
NZ dollar soars to new decades-high vs. British pound as Bank of England notes currency risk
By Paul McBeth Oct. 12 (BusinessDesk) - The New Zealand dollar climbed above 58 British pence as the sterling's weakness continued on fears the Brexit will see the UK step back from Europe's single market, with Bank of England policymakers noting further downside risk for the...
NZ dollar drops below 71 US cts as RBNZ's McDermott keeps rate cut plan intact
By Paul McBeth Oct. 11 (BusinessDesk) - The New Zealand dollar fell below 71 US cents for the first time in two months as Reserve Bank assistant governor John McDermott reaffirmed the bank's intention to cut interest rates further. The kiwi dropped to 70.69 US cents at 5pm...
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