The New Zealand dollar rose to a nine-month high as it looks to break 84 US cents with the US Federal Reserve set to review monetary policy amid expectations it will roll out the printing presses for a fourth time. The kiwi traded at 83.89 US cents at 5pm in Wellington from 83.83 cents at 8.30am and up 83.43 cents …

Port of Tauranga, the country’s biggest export port, will spend $34 million on Mount Maunganui-based log marshalling and scaling business Quality Marshalling. The deal will take effect from February next year and immediately add to the port’s earnings, the company said in a statement. Quality Marshalling had revenue of $18 million in the 2012 year, and is privately owned by …

The Reserve Bank has rejected submissions by Australian-owned banks operating in New Zealand for relief from new rules to guard against bank failures which will see them pay around $25 million in extra tax annually in this country. The concerns of the Australian banks are reported in the RBNZ’s response to submissions on the impact of new capital adequacy rules, …

Smartpay, which provides retailers with payments and transactions services, has agreed to buy eftpos terminal provider Viaduct for $16.3 million in cash and shares, a transaction representing almost a third of Smartpay’s value. The Auckland-based company will pay $14 million in cash and $2.3 million in shares for Wellington-based Viaduct’s eftpos terminal fleet, making Smartpay the biggest operator in terms …

The New Zealand dollar rose to a nine-month high as hopes Germany will avoid recession and optimism the Federal Reserve will enact more easing measures helped stocks rally and lift risk sentiment. The kiwi dollar climbed to 83.83 US cents from 83.43 cents at 5pm in Wellington yesterday. The trade-weighted index rose to 74.84 from 74.66. The euro gained and …

New Zealand shares fell, led by Warehouse Group on concern its decision to buy appliance and electronics retailer Noel Leeming puts it in the toughest part of the market. Fletcher Building rose to a 17-month high. The NZX 50 Index fell 4.59 points, or 0.1 percent, to 4026.18. Within the index, 23 stocks fell, 13 gained and 14 were unchanged. …

The New Zealand dollar rose to a five-week high against the Australian dollar, extending its gains of the past week on expectations the New Zealand central bank is more inclined to raise interest rates while its counterpart could be looking at a cut. The kiwi dollar rose to 79.66 Australian cents at 5pm in Wellington from 79.52 cents at the …

The New Zealand Maori Council’s case to stop the partial privatisation of MightyRiverPower while tribal claims to water rights are outstanding has failed at the High Court and is now almost certainly heading for appeal. The key question now is whether it will go to the Court of Appeal, or whether grounds may be found to take it straight to …

The Reserve Bank has settled on what it thinks are appropriate capital ratio requirements for the nation’s lenders which are set to kick in from next month. The bank regulator hasn’t moved on its view that banks should be holding a ratio of 4.5 percent of common equity Tier 1 capital in relation to their risk-weighted assets, a Tier 1 …

Jevic New Zealand, a company that pre-vets imported used vehicles, offered to buy all the shares of Vehicle Inspection New Zealand, valuing the target at $4.1 million. Jevic is offering $1.65 a share for VINZ, the vehicle inspection company that trades on the Unlisted platform. The offer represents a 10 percent premium to VINZ’s last trading price of $1.50. Jevic …