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TrustPower in tax battle over treatment of resource consents
June 27 (BusinessDesk) - TrustPower may have to record a tax expense of as much as $3.3 million in its income statements if a dispute with the Inland Revenue Department (IRD) goes against it, according to shareholder Infratil. The contingent liabilities section of the Infratil a...
UPDATED: KiwiRail writedown to add $1.8 bln to government operating deficit
By Jonathan Underhill June 27 (BusinessDesk) - KiwiRail is to be restructured, with its land holdings shifted to another entity, with a writedown of some $6.7 billion that will result in $1.8 billion being added to the government’s operating deficit this financial year. As par...
Holden NZ recalls 629 Cruzes for modification
By Pam Graham June 27 (BusinessDesk) - Holden New Zealand is recalling 629 Cruze vehicles in New Zealand after a potential fire hazard was identified with the cars in other markets. The lower air deflector, which is also known as the belly pan, can catch oil that might drip fro...
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