Building consents sink in September as growth stalls
New Zealand building consents stalled in September with its first monthly decline in five eroding gains over the past two months.
New Zealand building consents stalled in September with its first monthly decline in five eroding gains over the past two months.
Fletcher Building, the biggest company on the NZX 50 Index, said first-half profit will fall 10 per cent.
Fletcher Building says its first-half earnings are likely to be about 10 per cent down on the $166 million earned in the same period last year.
Questions are being raised about the strength of Stadium Southland's now collapsed roof.
Global re-insurance companies will probably take the bulk of losses for claims from the Christchurch earthquake not covered by EQC, says Moody's.
The Auckland City Council is offering the services of its property enterprise board to help dig Ponsonby's failed $250 million Soho project out of a hole.
Analysts predict Fletcher Building will head back to profitability despite this year's disastrous loss.