New Zealand’s terms of trade, which measure the quantity of imports the country can buy with a set amount of exports, climbed to its highest level since December 1973 as dairy prices surged in the quarter, while cheaper electrical machinery kept a lid on increases in import prices. The terms of trade rose 7.5 percent in the three months ended …

Guinness Peat Group, which has exited more than 50 investments to focus on UK threadmaker Coats, said the UK’s Pensions Regulator won’t meet a Dec. 31 target to decide on whether to issue a warning notice over its pension plans. The regulator has found the Coats Pension Plan and Brunel Holdings Pension Scheme were insufficiently resourced and this could lead …

MightyRiverPower is shutting down its largest geothermal power station, the 140 Megawatt Nga Awa Purua installation, to perform temporary repairs after finding geothermal fluids have damaged the three-year-old unit. Commissioned in 2010, Nga Awa Purua is the largest of MRP’s five geothermal power stations, representing close to 30 percent of its 469MW of rated output from steamfields in the central …

Rangatira, which bought a cornerstone stake in beer company Tuatara Brewing this year, reported a tenfold surge in first-half profit after selling its stake in engineering service firm Contract Resources and its direct holding in accounting software developer Xero. Net profit jumped to $30.8 million in the six months ended Sept. 30 from $3 million a year earlier, the Wellington-based …

The New Zealand dollar rose against the euro after higher European inflation dented expectations that the European Central Bank may have to ease monetary conditions further to stimulate growth. The kiwi touched 60.02 euro cents over the weekend and was trading at 59.82 cents at 8am in Wellington from 59.47 cents at the 5pm market close on Friday. The local …

Trading desks will be back to full staff this week after the Thanksgiving break in the US and investors are expected to be in a mood to buy — at least that’s what traders are hoping. While stocks ended little changed in thin trading on Friday, Wall Street posted another strong month of gains. For all of November, the Dow …

New Zealand shares fell, led by telecommunications network operator Chorus, as investors become wary that increased regulation heading in to an election year may crimp earnings. The NZX 50 Index fell 14.505 points, or 0.3 percent, to 4,794.95. Within the index, 32 stocks fell, 11 rose and seven were unchanged. Turnover was $104 million. Trading was lighter than normal for …

The former Crafar family farms controversially bought by China’s Shanghai Pengxin last year reported an operating loss in their first year of new ownership due to the widespread drought last summer. Pengxin New Zealand Farm Management reported an operating loss of $1 million in the year ended June 30 on revenue of $10.5 million, according to its first annual report …

The Bank of New Zealand is angling for a bigger slice of burgeoning Maori economic activity, establishing a $50 million fund to bridge financial gaps that can delay the payment of Treaty of Waitangi settlement funds to claimants. Around $1.5 billion in funds from existing Treaty claims are yet to be paid out, with the processes surrounding payouts sometimes taking …

The government is still committed to the partial privatisation of Genesis Energy, despite a rocky performance in both the asset sales so far undertaken, Prime Minister John Key has confirmed. However, he ruled out the possibility of a break-up or trade sale of the smallest of the three state-controlled electricity companies, despite work being done on those options in recent …