The New Zealand dollar jumped 1 US cent overnight as investors gained back some confidence in economic growth, favouring riskier assets such as equities and higher yielding currencies. The kiwi touched a week-high of 82.25 US cents and was trading at 82.16 cents at 8am in Wellington from 80.94 cents at 5pm yesterday. The trade-weighted index advanced to 77.57 from …

Dairy product prices rose in the second GlobalDairyTrade auction in a row, led by butter and whole milk powder, while volumes continued to retreat. The GDT Price Index increased 0.5 percent from the last sale two weeks ago. The average winning price was US$5,042 a tonne from US$5,025 per tonne at the last auction. Some 35,399 tonnes of product was …

New Zealand stocks fell, tracking a global decline, as investors’ fears of faltering economic recovery were exacerbated by poor manufacturing data in the US, and China. Xero led the market lower, with Trade Me Group and Port of Tauranga pacing the decline. The NZX 50 Index dropped 46.883 points or about 1 percent to 4802.619, its lowest in three weeks. …

The Reserve Bank of Australia kept its benchmark interest rate at a record low 2.5 percent and dropped its reference to policy adjustments in favour of stability, a move seen as code for an end to its easing bias that sent its currency up about 1 US cent. “Monetary policy is appropriately configured to foster sustainable growth in demand and …

The New Zealand dollar fell to a two-month low against its trans-Tasman counterpart after the Reserve Bank of Australia moved away from further rate cuts after inflation came in higher than expected and Australian consumer spending shows signs of life. The kiwi fell to 91.45 Australian cents at 5pm in Wellington from 92.33 cents immediately before the release, and down …

New Zealanders are following the global trend of abandoning landlines in favour of mobile phones and online communication, leaving telecommunication companies racing to find new revenue streams, said Paul Brislen CEO of Telecommunications Users Association of New Zealand. The 2013 census shows that 81 percent, or 1.3 million New Zealand households had access to a fixed-line telephone, down from 88 …

Personal income statistics from the 2013 national census show the annual median income in Canterbury was the second highest in the country, overtaking Auckland since the last census in 2006, in a trend that appears to reflect strong dairying growth overcoming earthquake impacts. The census shows that Wellingtonians’ median income remains the highest in the country, at $32,700, although the …

New Zealand commodity prices rose to a record in January, led by gains in butter. The ANZ Commodity Price Index advanced 1.2 percent to 334.3 from December. The index is 23 percent above January 2013. International prices for 10 of New Zealand’s main commodities increased in the month, three fell and four were unchanged. Butter prices led the gains, up …

Calibre Group, an ASX-listed mining and rail consultancy, has acquired New Zealand engineering and survey advisors Spiire Group from Downer EDI Group for $1.9 million. Perth-based Calibre said the acquisition by its Brown Consulting unit would add to earnings immediately and extend its reach in civil and urban infrastructure. Spiire, which has about 120 workers, is expected to generate $19 …

The Environmental Defence Society is calling for the government to scrap its draft regulations governing deep sea oil exploration on the same day as Texan oil explorer Anadarko said it was plugging and abandoning the first of the two deepwater wells it’s drilling this summer. While there were some oil and gas shows in the Romney-1 well, drilled in 1.5 …