Latest - Rangatira has posted a lower profit and reduced earnings after the sale of a major asset and a weaker performance from some investments.
The private investment company, majority owned by charities, has reported a net profit for the year of $6.6 million, down from $11.1 million last year.
Operating earnings were down close to 20 percent.
Chief executive Mark Dossor puts the fall down to the sale of its share of small goods maker Hellers (completed in January) but notes that it's left the company with $75m in cash to invest elsewhere.
Contact to buy stake in Simply Energy
Contact Energy is to spend close to $11m over the next three years for just under 50 percent of the specialist energy management company.
The power company will use its existing credit facilities to buy Simply Energy over three years, with an option to take majority control over the next couple of years.
Simply Energy offers commercial and trade consumers services for the wholesale electricity supply, hedging and energy management and will continue to operate independently for its existing customers.
Contact says it expects Simply to start adding to group earnings from 2021.
Arrow liquidators brings legal action against Chow Brothers
An Arrow International construction site in Wellington. Photo: RNZ / Phil Pennington
The liquidators of the failed construction company have brought a legal case against Wellington property developers the Chow Brothers and the insurer Vero.
The High Court is being asked to rule on whether Arrow should pay back a bond of $900,000 for an uncompleted hotel development in Wellington's Courtenay Place.
The Chow Brothers and Vero have claimed Arrow should pay, which the liquidators dispute.
Arrow was put into voluntary administration in March - at that time the Chow Brothers said they were interested in buying it.
However, Arrow was liquidated last week, owing creditors $39m in May.
Russell Maher hit with fraud charges
The Serious Fraud Office has brought fraud charges against the foreign exchange dealer whose company is in liquidation.
Russell Maher has been charged in the Auckland District Court with 47 counts of using forged documents.
The charges relate to Forex Brokers which received foreign exchange services from the defendant.
The maximum penalty for each charge is 10 years in jail.
Consultation sought on dam safety
The Ministry of Business, Innovation and Employment is looking into the safety of the country's largest dams.
It's opened consultation on proposed new regulations, that would ensure safety checks are carried out with consistent best practice, under supervision by regional authorities.
At the moment, there's no dam safety scheme to ensure hydropower stations are well maintained - it's all voluntary.
The window for submissions on the proposed regulations closes on 6 August.
