Sumerset CEO Cook says govt funding key for care giver wages
By Paul McBeth Aug. 15 (BusinessDesk) - Rest home hospitals nationwide will have to close if the government doesn't pony up more money to cover rising wage costs in the sector, says Summerset Group chief executive Julian Cook. A landmark court ruling last year that female...
Summerset lifts first-half earnings 44%, beating estimates, on record 2nd-quarter sales
By Paul McBeth Aug. 15 (BusinessDesk) - Summerset Group, the retirement village operator and developer, lifted first-half earnings 44 percent, beating expectations, and will pay a larger dividend than anticipated after enjoying a record second quarter of unit sales. Underly...
Vector wins again in tax dispute over $53 mln payment by Transpower
By Paul McBeth Aug. 12 (BusinessDesk) - Vector has won for a second time against the Inland Revenue Department over its tax treatment for a $53 million payment made by grid operator Transpower. The Auckland-based electricity and gas distribution company said the Court of A...
Banks get an extra month to meet new lending restrictions after playing ball with RBNZ
By Paul McBeth Aug. 12 (BusinessDesk) - The Reserve Bank won't impose new lending restrictions for highly-leveraged investment purchases until the start of October, giving lenders an extra month to clear their backlog of pre-approvals. The central bank plans to extend mort...
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