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  • NZ Dollar Falls to 18-Month Low on TWI Basis

    25 October 2017 7:12 PM 17

    Oct. 26 (BusinessDesk) - The New Zealand dollar fell, reaching an 18-month low on a trade-weighted basis, as traders keep watch on emerging details of the new coalition government's fiscal policies. The kiwi dropped to 68.68 US cents as at 8am in Wellington from 68.88 cents late yesterday. The trade-weighted index fell to 72.77, and earlier touched 72.65, the lowest

  • Fletcher Building shares dive

    25 October 2017 4:06 PM 15

    Shares in New Zealand's largest construction company Fletcher Building fell 5 percent after it said it expects to lose another $160 million on two underperforming projects. The company's Building and Interiors Unit is responsible for both the Sky City Convention Centre and Christchurch's Justice Precinct. For the first time Fletcher Building has confirmed

  • Apology for Fletcher shareholders

    25 October 2017 4:06 PM 14

    Apologies and assurances by Fletcher Building's board to shareholders resounded at its annual meeting yesterday, as further losses of $160 million from its beleaguered Building + Interiors were disclosed. The seriousness of the Building + Interiors' (B+I) problems, and its impact on full-year 2018 financial guidance, prompted Fletcher to place its shares

  • Aucklanders to pay new regional fuel tax

    25 October 2017 4:00 PM 23

    The new Labour-led Government will introduce a regional fuel tax on Auckland motorists to help fund a multibillion-dollar investment in trams to the airport and West Auckland. Incoming Transport Minister Phil Twyford confirmed to the Herald last night that the coalition will make an immediate start on modern trams to Westgate as well as trams from the airport

  • Protesters shut down Fletcher annual general meeting

    25 October 2017 3:38 AM 11

    Fletcher chairman Sir Ralph Norris was forced to shut down the company's annual meeting after protests over its Stonefield development were raised. Around 50 people protested outside the meeting held at the Auckland museum this morning. Some were workers upset at pay conditions while others were protesting the hertage of the land and its ownership

  • UPDATE: Norris offers apology on Fletcher Building forecasts

    25 October 2017 1:46 AM 19

    (Updates to add share price in paragraph three and broker comment in paragraphs 7-9) Oct. 25 (BusinessDesk) - Fletcher Building has taken a further $125 million provision against problematic construction contracts including the Convention Centre and the Justice Precinct in Christchurch and said its B&I unit would report a full-year loss of $160 million

  • New footage reveals extent of brawl at Pak'n'Save

    25 October 2017 1:39 AM 18

    Shocking new footage has emerged of a fight at a Pak'nSave supermarket - revealing it was a vicious brawl involving several people. The initial videos, filmed at the Mangere Pak'nSave on Tuesday night, showed two men squaring off in an aisle, both throwing a flurry of punches and kicks that failed to connect before the pair are pulled apart

  • Smack'nSave: Customers brawl in supermarket

    25 October 2017 1:39 AM 12

    Blood ran cold in the meat section of Pak'nSave on Tuesday evening as customers squared off in a fist fight. The brawl was caught on camera as a crowd of shoppers watched on in the Mangere supermarket. One onlooker pushes a trolley between the last two standing but it's no match for the men, who step around it. Eventually, security steps in, pulling

  • Norris apology as Fletcher Building forecasts $160m loss

    24 October 2017 10:17 PM 20

    Fletcher Building has taken a further $125 million provision against problematic construction contracts including the Convention Centre and the Justice Precinct in Christchurch and said its B&I unit would report a full-year loss of $160 million, including $35 million of overhead costs. A trading halt was lifted on Fletcher's shares following the announcement

  • New regional fund welcomed by farmers

    24 October 2017 10:11 PM 10

    A billion dollar regional fund has been welcomed with open arms by farmers' representative body. New Zealand First secured a massive fund of $1billion a year for regional development projects, in its coalition deal with Labour. Federated Farmers president, Katie Milne told Rachel Smalley the money should benefit farmers across the sector. "It will flow right