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Cabletalk Says Loss Of Contract To Hit Profit

Wellington, March 18 NZPA - Cabletalk Group said a decision by TelstraClear to appoint another company for South Island field services would hurt profitability.

Meridian To Pay Govt Special $175m Dividend

Wellington, March 25 NZPA - State-owned power company Meridian Energy said today it would pay the Government a special dividend of $175 million. The special dividend is on top of a $60.9m interim dividend also announced.

VTL Says At Due Diligence Stage With Sthn California Business

Wellington, March 19 NZPA - Troubled vending machine franchise company VTL Group says it is at the due diligence stage in the sale of its 24seven vending busin ess system operation in southern California.

Most Of 60 Workers At Auckland Laminex Plant To Lose Jobs

Wellington, March 19 NZPA - Most of the 60 workers at an Auckland plant of Fletcher Building division Laminex Group are to be made redundant as production is moved to China.

Rent Rises, But Home Affordability Improves Slightly - Reports

Wellington, March 20 NZPA - Renting became more expensive at the start of the year, but home affordability has improved slightly, according to two reports.

Rock Going Ahead Despite Comments

Wellington, March 17 NZPA - Wellington airport owner Infratil acknowledges it got good and bad feedback on its "Rock" terminal design but said construction will begin soon regardless.

Windflow Technology Reports Loss

Wellington, March 17 NZPA - Windflow Technology Ltd has reported a $2.25 million loss in the six months to December 31 and is not paying a dividend.

Another 5c In $ Going To Provincial Finance Debenture Holders

Wellington, March 20 NZPA - A further 5c in the dollar is to be paid to debenture holders of collapsed lender Provincial Finance, receivers PricewaterhouseCoopers said.

Lelei Finance Fined $37,480 Over Act Breaches

Wellington, March 20 NZPA - A south Auckland consumer company generally lending to the Tongan community has been fined $37,480, partly for failing to provide enough information to debtors.

Lobby Groups Complain About Foreign Investment Rule Changes

Wellington, March 19 NZPA - The Business Roundtable and Wellington Regional Chamber of Commerce have complained to the Clerk of the House about the tightening of foreign investment regulations behind closed doors.

NZ Post Lifts Half Year Net Profit

Wellington, March 25 NZPA - New Zealand Post, owner of Kiwibank, said today it had lifted its December half year net profit to $52.9 million from $48.4m (restated under new accounting rules from $38.2m).

Port Of Tauranga To Lose Out As Shipping Giants Merge Service

Wellington, March 18 NZPA - Port of Tauranga said today shipping services would be cut by 78 visits a year after a decision by heavyweights Hamburg Sud Trident and Maersk to merge their East Coast North America services.

ComCom Declines Sumitomo Clearance To Buy CHH MDF Business

Wellington, March 20 NZPA - The Commerce Commission has not cleared Japan's Sumitomo Forestry to buy Carter Holt Harvey's medium density fibreboard (MDF) business in Rangiora.

Investor Thought To Have Bought 3.6 Pct Of Pumpkin Patch

Wellington, March 20 NZPA - A wealthy private investor is thought to have bought 3.6 percent of children's clothing retailer Pumpkin Patch.

Kingfish Warrants Due To Expire

Wellington, March 17 NZPA - Growth-stock investment fund manager Fisher Funds is reminding warrant holders in Kingfish that they have just a few days to exercise their warrants.

Market Speculating Reserve Bank Could Lower Interest Rates Early

Wellington, March 18 NZPA - The market is starting to price in the possibility of the Reserve Bank moving more quickly than expected to lower official interest rates.

Opus Extends Operations In Britain

Wellington, March 19 NZPA - New Zealand-based infrastructure consultancy Opus International has extended its position in Britain by acquiring British-based engineering consultancy, Joynes Pike Group Ltd.

Commerce Minister Rejects Calls For Blue Chip Statutory Mgmt

Wellington, March 20 NZPA - Commerce Minister Lianne Dalziel has rejected calls from distraught Blue Chip investors for the property investment group to be placed in statutory management.

Cynotech Pulls Out Of Findata Listing

Wellington, March 18 NZPA - Cynotech Holdings has pulled out of promoting the listing of Findata Ltd on the NZAX because of the cost and length of time in obtaining approvals.

Glass Earth Says Exploration Activities Funded Through Q1 2009

Wellington, March 19 NZPA - Gold exploration company Glass Earth Gold says it is budgeted to be fully funded for operating and exploration activities through the first quarter of 2009.

THL Sells Kelly Tarlton's To Village Roadshow

Wellington, March 19 NZPA - Village Roadshow has entered into a deal to buy Auckland's Kelly Tarlton's Underwater World from Tourism Holdings Ltd for $13 million.

Transpower Says Supply Interuptions Well Above Target

Wellington, March 25 NZPA - Transpower said today unplanned interuptions to supply were well above target due to aging systems.

Dominion Finance Total Assets Down About 10-15 Pct In 6 Months

Wellington, March 20 NZPA - Dominion Finance Holdings (DFH) says its total assets will fall by between about 10 percent and 15 percent by its March year end from around $500 million in September.

Freightways To Buys Now Couriers For $7.5m Plus Buyout

Wellington, March 25 NZPA - Freightways said today it had agreed to buy Momentum Management, trading as Now Couriers, for $7.5 million plus a buyout of up to $3.5m over two years.

NZ Greenhouse Gases From Electricity Down 10 Pct In Dec Quarter

Wellington, March 18 NZPA - New Zealand's production of greenhouse gases from electricity generation dropped 10 percent in the December quarter compared to a year earlier, new figures show. That was despite thermal generation rising 17 percent.

Air NZ To Increase Capacity Between Auckland And Australia

Wellington, March 25 NZPA - Air New Zealand is to increase by the end of the year the number of seats available for flights from Auckland to Melbourne and Sydney.

Heritage Gold To Scope Viability Of Talisman Mine Near Waihi

Wellington, March 18 NZPA - With the price of gold soaring to over $US1000 ($NZ1268) an ounce, Heritage Gold said today it is looking at further development of the Talisman gold mine near Waihi. The Talisman mine comprises the Maria, Crown/Welcome and Mystery veins.

Tui About To Produce 10 Millionth Barrel Of Oil

Wellington, March 19 NZPA - The Tui oilfields off the coast of Taranaki are about to produce their 10 millionth barrel of oil. The milestone was expected to be reached tomorrow or Friday, 12.5 percent stakeholders New Zealand Oil and Gas (NZOG) said.

Kermadec Shares Dive As Augusta Lines Up Property Sale

Wellington, March 18 NZPA - A subsidiary of Peter Francis's Augusta Group plans to sell the Finance Centre Podium development in Auckland to listed Kermadec Property Fund (KPF).

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