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The New Zealand dollar rose as traders squared up their year-end positions as negotiations in the US to stave off legislated tax hikes and spending cuts that automatically kick in on Jan. 1 remain unresolved. That kiwi is heading for a 5.8 percent annual gain on its relative yield advantage. The kiwi rose to 82.33 US cents at 1.30pm in …

Fairfax Media Group will face another raid by activist shareholder and iron ore magnate Gina Rinehart after she enlisted Macquarie Radio Network’s John Singleton in her bid to exert control over the publisher of the Dominion Post, Sydney Morning Herald and Australian Financial Review. Rinehart’s Hancock Prospecting and Singleton’s Gutenberg Investments have pooled their Fairfax shareholding to hold 15.4 percent …

The New Zealand dollar was little changed against the greenback as traders awaited developments on US budget talks, with the fiscal cliff deadline now just two days away. The kiwi dollar traded at 81.94 US cents from 81.93 cents in New York on Friday. The trade-weighted index was at 73.53 from 73.55. President Barack Obama told NBC’s Meet the Press …

The New Zealand dollar gained in local trading on optimism US politicians will be able to set aside partisan differences and cut a deal on the US$600 billion in Federal tax increases and spending reductions with a vote set for Sunday. The kiwi rose to 82.11 US cents at 5pm in Wellington from 81.83 cents at 8.30am and 81.89 cents …

Fairfax Media, which publishes the Dominion Post, Press and Sunday Star Times newspapers, slashed the value of its New Zealand mastheads by more than 80 percent in a group-wide writedown of its traditional publishing assets. write my essay cheap The New Zealand holding company, Fairfax New Zealand Holdings, valued its local newspaper titles at $175.2 million as at June 30, …

atson, a NYSE-listed shipping company servicing the northern Pacific, has agreed to buy Reef Shipping from its receivers to extend its reach into the South Pacific. No price was disclosed for the deal in a statement from the Honolulu-based company. Matson will acquire four vessels and about 1,500 pieces of container equipment from Auckland-based Reef Shipping, which was placed in …

Wall Street sank as Senate Majority Leader Harry Reid warned the US appeared set to head over the so-called fiscal cliff as an agreement between Democrats and Republicans before the year-end deadline seems unlikely. “I don’t know time-wise how it can happen now,” Reid said in the Senate. He blamed Republicans for a lack of cooperation. Americans are worried too. …

New Zealand stocks rose in light holiday trading, helped by gains in Fletcher Building, with US fiscal cliff negotiations likely to be the focus through the year end. Hellaby Holdings rose after agreeing to buy a maintenance and industrial cleaning business. The NZX 50 Index rose 7.627 points, or 0.2 percent, to 4065.447. Within the index, 20 stocks rose, 18 …

The receiver for Strategic Finance and Lombard Finance & Investments, PwC’s John Fisk, is in talks to reach settlements with the directors of the two failed lenders in a bid to avoid the costs of taking legal action. The Strategic and Lombard Finance boards have each received draft statements of claim against them by their respective receiver and both boards …

NZF Group, the financial services firm at odds with receivers of its failed finance unit, has delayed a shareholder vote on whether to exit its stake in Mike Pero Mortgages after the buyer filed High Court papers to limit information that can be shared with investors. Australia’s Liberty Financial, which owns the other half of MPMH, has applied to “restrain …