The euro weakened against the US dollar and the yen after European Central Bank President Mario Draghi said the euro-zone was expected to stay in recession next year, reversing an earlier forecast for a recovery in economic growth. The downgrade to the outlook for gross domestic product came as the ECB left its benchmark interest rate at a record low …

Wynyard Group, the security and risk management software firm owned by Jade Software, has got a toehold in the US, partnering with Virginia-based Northrop Grumman Corp. The deal gives Wynyard access to a US$2 billion market, which accounts for about half the global market in security and risk management software, and will give the New Zealand firm a foot in …

Wynyard Group, the security and risk management software firm owned by Jade Software, has got a toehold in the US, partnering with Virginia-based Northrop Grumman Corp. The deal gives Wyndham access to a US$2 billion market, which accounts for about half the global market in security and risk management software, and will give the New Zealand firm a foot in …

The euro weakened against the US dollar and the yen after European Central Bank President Mario Draghi said the euro-zone was expected to stay in recession next year, reversing an earlier forecast for a recovery in economic growth. The downgrade to the outlook for gross domestic product came as the ECB left its benchmark interest rate at a record low …

New Zealand shares rose, snapping a three-day slide as equity markets across the Asia-Pacific region generally gained. Xero resumed its climb after two US funds gave the company equity capital and Chorus clawed back from its regulator-induced plunge. The NZX 50 Index rose 16.11 points, or 0.4 percent, to 4023.36. Within the index, 23 stocks rose, 14 fell and 13 …

The New Zealand dollar rose to a nine-month high on a trade-weighted basis after Reserve Bank governor Graeme Wheeler kept the benchmark interest rate unchanged and warned about the threat of inflation in the housing market. The trade-weighted index rose as high as 74.15, the highest since Feb. 20, and traded at 74.03 at 5pm in Wellington from 73.52 yesterday. …

Workers who have relocated to Christchurch at their employers’ expense risk having their accommodation costs treated as income under a new tax department ruling described by one major accounting firm as “a significant and unwelcome change in approach”. The Inland Revenue Department issued a special “Commissioner’s Statement” on the issue today, saying employers will be required to count accommodation costs …

Postie Plus Group has again avoided a breach of its banking covenants and gained a 12-monthextension on its facilities. Bank of New Zealand completed its annual review of the banking facilities,” the Christchurch-based company said in a statement. Postie Plus yesterday flagged potential breaches of its banking covenants for the months of November 2012, January and April 2013. That came …

Energy Minister Phil Heatley is set to announce the results of this year’s block offer for oil and gas exploration permits on Tuesday next week, and government officials are confident more activity will follow in the coming years. General manager of New Zealand Petroleum and Minerals David Binnie told Parliament’s commerce committee the 2012 ‘block offer’ will be announced next …

Nufarm, the agricultural chemicals manufacturer, said first half earnings will rise at least 15 percent on improved trading in South America and Europe, and foreign exchange gains. A strong performance in South America and an improved outcome in Europe “will more than offset what is likely to be a weaker first half result in Australia,” managing director Doug Rathbone told …