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FIRST CUT: Contact Energy reports $116M half year loss on asset writedowns
By Pattrick Smellie Feb. 14 (BusinessDesk) - Electricity generator and retailer Contact Energy announced a $116 million net loss in the six months to Dec. 31, as it booked write downs of $257 million on its Otahuhu B power plant, which it closed last year, and a decision that...
Contact sells Otahuhu power station site to property developer
By Pattrick Smellie Feb. 15 (BusinessDesk) - Contact Energy has sold the site of its Otahuhu gas-fired power station to Auckland land developer Stonehill Property Trust for $30 million, following its closure last year. Once the jewel in the crown of Contact's generation por...
NZ dollar declines as greenback strengthens on US retail sales, oil gain
By Tina Morrison Feb. 15 (BusinessDesk) - The New Zealand dollar fell after the greenback strengthened as investor optimism was boosted by a gain in US retail sales and higher oil prices. The kiwi slid to 66.18 US cents at 8am in Wellington, from 66.29 cents at the New York...
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