The New Zealand dollar may gain against its Australian counterpart if the Reserve Bank of Australia cuts interest rates as expected, as the resources boom slows across the Tasman and forces the regulator to reduce its yield advantage. The kiwi dollar increased to 78.78 Australian cents at 8am in Wellington from 78.68 cents yesterday, and advanced to 82.10 US cents …

Chorus’s Baa2 credit rating may be cut by Moody’s Investors Service after the Commerce Commission released a draft plan to curb prices the company can charge retailers to access its network. The review affects US$2 billion of debt. The regulator yesterday released a draft determination that would cut the price of Chorus’s basic service relating to the unbundled local copper …

Chorus’ annual earnings would be slashed by as much as 40 percent if the competition regulator goes ahead with draft plans to steeply cut what the telecommunications network operator can charge for access to electronic switchgear on its ageing copper lines. The telecommunications network operator has slammed the Commerce Commission’s draft regime on pricing for unbundled bitstream access (UBA) services, …

The Telecommunications Commissioner’s draft decision on access to switchgear on the copper telecommunications network is “very problematic” and the government won’t rule out legislating to get the outcome it wants, says Prime Minister John Key. His comments came as shares in the copper network owner, Chorus, fell 14 percent to $2.91, three cents lower than its listing price when it …

The euro rose to a six-week high against the dollar after Greece offered to buy back 10 billion euros of bonds in what’s seen as a sign of progress in tackling its debt mountain. As talks in Washington aimed at averting the fiscal cliff appear stalled, a chink of light has flowed into markets from Europe. The euro traded recently …

The New Zealand dollar was little changed against its Australian counterpart as sluggish consumer spending across the Tasman stoked speculation the Reserve Bank of Australia may cut interest rates deeper than initially anticipated. The kiwi traded at 78.68 Australian cents from 78.65 cents on Friday in New York. The currency was little changed at 81.95 US cents at 5pm in …

Chorus, the telecommunications network operator, won’t have to cut its prices for copper-line services as deeply as initially feared after the antitrust regulator set pricing over the unbundled copper local loop. The Commerce Commission has set the new geographically averaged price at $23.52 per month per line from Dec. 1, 2014, a 3.9 percent reduction to the prices set in …

The historic listing of Fonterra units on the NZX caused mammoth volumes by New Zealand market standards and the biggest listing day stag that investors have seen for years. The non-voting units, which launched at midday today, surged as high as $6.95, a 26 percent stag before closing at $6.85 from an offer price of $5.50. The fund’s turnover was …

The New Zealand dollar is set to end the month virtually unchanged against the greenback as US politicians try to navigate away from the fiscal cliff and trans-Tasman central banks prepare to review monetary policy next week. The kiwi traded at 82.23 US cents at 5pm in Wellington from 82.24 cents at 8am, and down from 82.41 cents yesterday. The …

The chief executive of Industrial Research Limited, the Crown Research Institute being folded into the new advanced technology institute, has announced his resignation after six and a half years spent restoring the once-ailing science body’s financial performance. Shaun Coffey said he was leaving “after careful consideration”, and following IRL’s acknowledgement in the last week through a series of awards and …