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New Zealand shares fell, with trading muted as some Australian states celebrated Labour Day and with no sign politicians in Washington can break their budget standoff. Fletcher Building paced the decline and Sky Network Television gained. The NZX 50 Index fell 3.34 points, or 0.1 percent, to 4756.044. Within the index, 19 stocks fell, 19 rose and 12 were unchanged. …

Bay of Plenty iwi Te Arawa has appointed one-time joint chief executive at Fletcher Forests, Ian Boyd, to head its commercial entity, Te Arawa Group Holdings. Te Arawa settled its Treaty claims in 2009 with a $34 million cash settlement and established TAGH to undertake its commercial operations, which include forest and farm ownership, as well as the recently purchased …

The New Zealand dollar drifted lower, while remaining within its recent range, as the stalled budget talks in the US kept traders from taking big positions, while a business confidence survey tomorrow is expected to affirm the strength of the local economy. The kiwi traded at 82.82 US cents at 5pm in Wellington, from 83.12 US cents at the start …

The New Zealand government posted a smaller operating deficit than forecast in the May budget on a bigger corporate tax take and less spending on the Canterbury earthquake than expected, and is sticking to its target to reach a surplus by the 2015 financial year. The operating balance before gains and losses (obegal) was $4.41 billion in the 12 months …

Port of Tauranga, New Zealand’s largest export port, may increase its dividend payout ratio and make additional capital payments to investors as cash flows return to normal levels after a period of higher spending, according to brokerage Craigs Investment Partners. The port company will probably spend an average $48 million a year over 2012-16 to complete its current expansion and …

Telecom Corp, the country’s biggest telecommunications operator, is looking to latch on to rapidly growing data usage with the launch of its 4G mobile services next month. The Auckland-based company will open its long-term evolution mobile network, as the technology is known, on Nov. 12 to customers in Auckland, Wellington and Christchurch on 4G-capable devices at no entry cost, it …

Infratil stock is about 20 percent undervalued given the performance of its investment in Z Energy, the likely avoidance of regulation for Wellington International Airport and a foreign exchange gain, according to First NZ Capital. The brokerage resumed coverage of Infratil with an ‘outperform’ rating following the end of a research restriction due to its role in the sale of …

The New Zealand dollar may be range-bound this week, ending largely unchanged, as investors wait on the sidelines for the US government to end its deadlock. The local currency may trade between 81.50 US cents and 84.50 cents this week, according to a BusinessDesk survey of 10 traders and strategists. Six expect the currency to be largely unchanged with only …

The New Zealand dollar is little changed as investors await the outcome of stalled budget talks in the US. The kiwi traded at 83.12 US cents at 8am in Wellington, from 83.22 cents at the New York close and 82.89 cents in Wellington Friday. The trade-weighted index advanced to 77.26 from 76.77 on Friday. Financial markets are awaiting the resolution …

Nobody has blinked yet in the US budget standoff and lawmakers seem further from rather than closer to reaching an accord, bolstering concern about another political hot potato-the need to raise the federal government’s debt ceiling to avoid default. The partial shutdown of the government as a result of the budget stalemate is now headed into its second week. A …