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New Zealanders increased spending on debit and credit cards in February, led by gains in hospitality and apparel as low inflation makes households more relaxed about their consumption. The value of core retail spending, which strips out spending on fuel and vehicle related items, rose 1.2 percent to a seasonally adjusted $3.94 billion last month, accelerating from January’s revised 1 percent gain, …

The New Zealand dollar fell to its lowest in more than three weeks as the greenback soared after better-than-expected US jobs data boosted speculation the US Federal Reserve may raise interest rates as early as June. The kiwi fell to 73.40 US cents and was trading at 73.47 cents at 8am in Wellington, from 73.60 cents at the New York …

Apple’s new watch, a report on US retail sales, and the European Central Bank’s new quantitative easing programme will take centre stage this week. On Friday, a much better-than-expected US payrolls report fuelled expectations the US Federal Reserve will raise interest rates as early as June. Employers added 295,000 jobs in February, while the unemployment rate dropped to 5.5 percent, …

Fliway Group, the independent transport and logistics provider, is seeking to raise between $27.3million and $44.5 million through the first initial public offering on the NZX this year. The prospectus to be registered this afternoon is expected to value the company at around $70 million to $75 million. The 18-year-old company is owned by Duncan Hawkesby, the son of former …

New Zealand’s wholesale trade grew for a third quarter in the final three months of 2014, with increased activity for apparel, pharmaceuticals and furniture leading the expansion. Seasonally adjusted sales rose 0.3 percent in the three months ended Dec. 31, slowing from the 0.6 percent pace in September, and rounding out a third quarter of growth, according to Statistics New …

Fulton Hogan, the privately held construction firm, says first-half pre-tax earnings dropped 10 percent as Australia’s economic woes kept a lid on spending in the resources and state sectors, while the strong kiwi dollar eroded profit earned across the Tasman. Pre-tax net profit fell to $83.4 million in the six months ended Dec. 31 from $92.8 million a year earlier, the …

Warehouse Group lowered its forecasts for annual profit and dividends after New Zealand’s largest listed retailer posted weaker first-half earnings as its Red Sheds and Noel Leeming units missed expectations. Full-year adjusted net profit, which excludes one-time items and is the basis for dividend payments, will be between $52 million and $56 million, down from $60.7 million a year earlier, …

Air New Zealand, the national carrier, will scrap its pre-selected travel insurance option after receiving a formal warning from the Commerce Commission, which is cracking down on businesses misleading consumers with ‘opt out’ additional products. The Auckland-based airline has agreed to no longer pre-tick travel insurance on its online ticketing system from April after a warning from the anti-trust regulator, the commission said in a …

New Zealand shares fell, led by Meridian Energy ahead of its second instalment receipt coming due in May. Spark New Zealand and Fletcher Building declined. The NZX 50 Index fell 17.31 points, or 0.3 percent, to 5856.772. Within the index, 25 stocks fell, 19 rose and six were unchanged. Turnover was $141 million. Meridian dropped 4.9 percent to $2.025. The partially privatised energy company listed on …

The New Zealand dollar dropped after the Reserve Bank said it’s looking at ways to restrict lending on residential property investments, stoking speculation it would then have more room to cut interest rates. The kiwi fell to 75.52 US cents at 5pm in Wellington from 75.88 cents immediately before the release, to be little changed from 75.55 cents yesterday. The trade-weighted index was at …