Latest - The liquidators of the failed construction company Arrow International have lost a bid to scrap a bond claimed by Wellington property developers John and Michael Chow.
The site of an Arrow International development in Wellington. Photo: RNZ / Phil Pennington
The Chow Brothers have claimed a $900,000 bond, payable by the insurer Vero, over a Wellington hotel development that Arrow didn't complete.
Arrow's liquidators disputed the claim and sought a High Court injunction to halt the claim.
The liquidators will now ask the Chow Brothers to justify the size of the losses and the bond, but say the issue may end up back in court.
House price inflation on track to accelerate next year
Westpac's chief economist Dominick Stephens forecasts house price inflation of 7 percent next year, from the current 2 percent level, with moderate price growth in Auckland and rapid rises elsewhere.
He says the foreign buyer ban and the upcoming ring-fencing of tax losses on investment properties will have an offsetting effect.
In any case, he says the upturn in inflation is likely to fizzle out beyond 2021.
NZME hits 10,000 subscribers for paywall
The media company says it has 10,000 paying digital subscribers willing to read what's behind the paywall.
Chief executive Michael Boggs has told the annual meeting it reached its 12 month target in fewer than six weeks.
He said about a third of the subscribers have signed up for 12 months and more than 20 percent of the existing daily print-subscribers are using their digital access.
Mr Boggs says advertising bookings are down 3 percent on the year to date, but are declining at a slower rate than last year, and there's still growth in radio advertising revenue.
The company's cost reductions have continued and it's on track to reduce debt in line with its management policy.
Chorus confident it will meet demand during the Rugby World Cup
The telecommunications lines company said its preparations allow for a 44 percent upsurge in traffic over the tournament period - the equivalent of bringing forward two years of network capacity growth.
Peak viewing is expected to happen during the quarter-finals in October.