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The New Zealand dollar slipped as the US dollar edged up following better-than-expected US economic data which lifted optimism about a recovery in the world’s largest economy. The kiwi weakened to 83.82 US cents at 8am in Wellington, from 83.91 cents at 5pm yesterday. The trade-weighted index was at 79.01 from 79.06 yesterday. The US dollar index, which measures the greenback against …

Stocks fell, while US Treasuries rose, as concern about intensifying tension in Ukraine outweighed further evidence that the American economy is gathering strength. In late afternoon trading in New York, the Dow Jones Industrial Average fell 0.21 percent, the Standard & Poor’s 500 index slipped 0.11 percent, while the Nasdaq Composite Index gave up 0.18 percent. Declines in shares of …

Air New Zealand, the government-controlled national carrier, boosted annual profit 45 percent as increased passenger numbers and capacity lifted earnings, and will pay a special dividend after reviewing its capital structure. Net profit rose to $262 million, or 23.6 cents per share, in the 12 months ended June 30, from $181 million, or 16.4 cents, a year earlier, the Auckland-based company …

The first poll to test voter reaction to last week’s publication of the “Dirty Politics” book shows the government maintaining its lead over the Labour Party, rising 2 percentage points to 48 percent, while Labour has dropped 2.5 percent to 27.5 percent.Political party support again suggests that New Zealand First will be in a “king-maker” position after the election, but only …

A member of Prime Minister John Key’s press office, Jason Ede, hacked into Labour Party computers and stole donor and membership information, according to a new book by political journalist and activist Nicky Hager.  Ede then bragged to right-wing Auckland blogger Cameron Slater, known as “Whaleoil”, about using transient internet addresses to hide his tracks, it says.  Hager’s book, “Dirty Politics”, is at …

New Zealand shares were mixed, with the NZX 50 Index edging higher while more stocks fell. A2 Milk Co rose after securing a licence to export infant formula to China, while other so-called growth companies Pacific Edge and Diligent Board Member Services fell. The NZX 50 rose 6.967 points, or 0.1 percent, to 5133.866. Within the index, 16 stocks rose, 22 fell and 12 were unchanged. Turnover …

The New Zealand dollar fell before the release of US consumer prices for June, amid speculation inflation in the world’s biggest economy may have accelerated enough to bring forward the timing of interest rate hikes. The kiwi traded at 86.74 US cents at 5pm in Wellington, from 86.89 cents at the start of the day and from 87.12 cents yesterday. The trade-weighted index declined to …

Shares in A2 Milk Co jumped 9.8 percent from a 15-month low on news the milk marketer has won Chinese regulatory approval to export its a2 Platinum infant formula. Milk processor Synlait Milk is still waiting for registration. The Auckland-based company has been included in the list of approved imported brands issued by the China General Administration of Quality Inspection and Quarantine, it said in a statement. The …

Electricity and gas consumers will be about $33 million a year better off if a draft decision by the Commerce Commission to reduce the returns allowable to monopoly electricity and gas network owners and national grid operator Transpower is upheld, although the impact at the household level will be tiny. The commission released a draft decision on the long-running battle over the appropriate weighted average cost …