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Westpac spins off management of $650 million of equities to firm owned by former staff
By Tina Morrison May 10 (BusinessDesk) -Westpac Banking Corp's New Zealand fund management arm contracted out the management of more than $650 million of its listed New Zealand stocks and property holdings to a new firm started by its employees. BT Funds Management (NZ), which...
Auckland City, government agree to 3-year plan to fast-track city home building
May 10 (BusinessDesk) – Auckland City and the government have agreed a three-year plan to fast-track housing in New Zealand’s most-populous city, with a target of 39,000 new homes by 2016. The Auckland Housing Accord is aiming to alleviate housing pressures in Auckland after a...
Regulator sticks its guns in air cargo cartel dispute with Air NZ
By Paul McBeth May 10 (BusinessDesk) - The Commerce Commission is sticking to its guns in the long-running air cargo cartel case against Air New Zealand, which yesterday renewed its bid to have the case dropped after what it says was key evidence was withdrawn. The regulator’...
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