Top business stories from nzherald.co.nz for Tue, May 19:
Hilton picks Taupo for its second NZ hotel
The upmarket Hilton hotel chain has delivered some welcome news to New Zealand's slumping tourism industry, announcing this morning it has chosen Taupo as the site for its second hotel in this country.
$60b wiped from house values
The property downturn wiped $60 billion off the value of our national housing stock and $25 billion from Auckland last year, says an industry commentator.
APN launches $A99m rights issue to strengthen balance sheet
Transtasman radio and newspaper group APN News & Media Ltd has launched an equity raising of up to A$99 million ($129.20 million) to help reduce debt.
Nuplex confirms full year forecast
Resins maker Nuplex Industries confirmed it continues to expect full year earnings before interest, tax, depreciation and amortisation (ebitda) of $87 million.