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Tale of two cities for Precinct as Auckland rentals rise, Wellington lags
By Suze Metherell Feb. 18 (BusinessDesk) – Precinct Properties New Zealand, formerly known as AMP NZ Office, boosted half-year profit by 67 percent as rising returns from Auckland office towers made up for stalled growth in Wellington. Net profit was $39.5 million in the six mo...
Lines companies stifling power company innovation, says Contact Energy
By Pattrick Smellie Feb. 18 (BusinessDesk) – The biggest barrier to electricity retailers introducing new, more competitive products is the complexity created by 29 separate monopolies owning the country’s electricity networks and all charging for them differently, says Contact...
Bankrupt Auckland property developer Mayer sentenced to 6 years’ prison for $47M mortgage fraud
Feb. 18 (BusinessDesk) – Bankrupt Auckland property developer Malcolm Mayer was today sentenced in the Auckland District Court to six years’ prison for orchestrating a $47 million mortgage fraud. The sentence follows a prosecution by the Serious Fraud Office which resulted in M...
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