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The Commerce Commission has filed court proceedings against PGG Wrightson, Elders New Zealand and five individuals it claims fixed fees charged during the introduction of a national livestock tagging scheme. The regulator is in discussions with a third company, Rural Livestock. The commission alleges the companies and individuals breached the Commerce Act by establishing three pricing agreements prior to the NAIT Act coming into force …

The New Zealand dollar is expected to decline this week, weighed down by further weakness in the country’s key dairy industry and by a strengthening US dollar. A BusinessDesk survey of 10 currency analysts puts a possible trading range for the kiwi at between 64.50 US cents and 67.50 cents this week. Six expect a decline while four say it may remain largely …

By Jonathan Underhill July 31 (BusinessDesk) – Blis Technologies, the NZX-listed biotech company, said sales will rise as much as 75 percent, helped by demand in Europe, North America and in New Zealand. Sales in the year ending March 31, 2016, are expected to “comfortably exceed $4.5 million,” chief executive Barry Richardson told shareholders at their annual meeting. Blis would likely report  “a …

Reserve Bank governor Graeme Wheeler says some market commentators are predicting further declines in interest rates that would only make sense for an economy in recession, although some easing is likely to be needed to maintain New Zealand’s economic growth. Wheeler gave a balanced view of the economy in a speech to an ExportNZ/Tauranga Chamber of Commerce meeting. While repeating …

New Zealand has been a hot topic for international TPP discussion as negotiation’s end draws near. ForeignPolicy.com has a tidy summary of what’s standing in the way of TPP as negotiations head toward their final stages, with coverage of Canada’s standoff with the United States and New Zealand over dairy. Here are the Remaining Hurdles to Obama’s Massive Asia Trade …

The New Zealand dollar rose ahead of a speech by Reserve Bank governor Graeme Wheeler, on speculation he may soften his language about an easing bias, and after stocks rebounded and commodities gained. The kiwi dollar rose to 66.77 US cents as at 8am in Wellington, having earlier gained to as high as 67.08 cents, from 66.61 cents late yesterday. The trade-weighted index rose to …

The New Zealand dollar rose after Beijing said it was continuing efforts to support the ailing Chinese stock market, slowing their decline, while locally traders await a speech by the Reserve Bank governor tomorrow. The kiwi dollar advanced to 66.61 US cents as at 5pm in Wellington, from 65.88 cents yesterday. The trade-weighted index gained to 70.90 from 70.22. China‘s Shanghai Composite index …

Maori businesses are more optimistic and recording stronger profit growth than non-Maori firms as the focus of the sector shifts from righting historical grievances to looking to the future, ANZ Bank’s 2015 Maori business report says. The ANZ Privately-Owned Business Barometer found 72 percent of Maori businesses surveyed were upbeat about the next three years, up from a reading of 70 percent …

By Jonathan Underhill July 28 (BusinessDesk) – NZX, the stock market operator, said advertising in its portfolio of agricultural publications dropped 17 percent in the first half, reflecting the slump in dairy prices and the impact of drought. The company’s agricultural titles include New Zealand Farmers Weekly, the nation’s biggest newspaper for farmers, Country-Wide and New Zealand Dairy Exporter. Agricultural information accounted for …

The Labour Party is giving conditional support for the controversial Trans-Pacific Partnership, with party leader Andrew Little saying Labour is “pro-free trade” but will only support TPP if it contains “key protections” for New Zealanders. “Labour supports free trade,” he said. “However, we will not support a TPP agreement that undermines New Zealand’s sovereignty.” The Labour caucus had agreed five ‘bottom line’ …