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The New Zealand dollar fell to a two-month low against its trans-Tasman counterpart after the Reserve Bank of Australia moved away from further rate cuts after inflation came in higher than expected and Australian consumer spending shows signs of life. The kiwi fell to 91.45 Australian cents at 5pm in Wellington from 92.33 cents immediately before the release, and down …

New Zealanders are following the global trend of abandoning landlines in favour of mobile phones and online communication, leaving telecommunication companies racing to find new revenue streams, said Paul Brislen CEO of Telecommunications Users Association of New Zealand. The 2013 census shows that 81 percent, or 1.3 million New Zealand households had access to a fixed-line telephone, down from 88 …

Personal income statistics from the 2013 national census show the annual median income in Canterbury was the second highest in the country, overtaking Auckland since the last census in 2006, in a trend that appears to reflect strong dairying growth overcoming earthquake impacts. The census shows that Wellingtonians’ median income remains the highest in the country, at $32,700, although the …

New Zealand commodity prices rose to a record in January, led by gains in butter. The ANZ Commodity Price Index advanced 1.2 percent to 334.3 from December. The index is 23 percent above January 2013. International prices for 10 of New Zealand’s main commodities increased in the month, three fell and four were unchanged. Butter prices led the gains, up …

Calibre Group, an ASX-listed mining and rail consultancy, has acquired New Zealand engineering and survey advisors Spiire Group from Downer EDI Group for $1.9 million. Perth-based Calibre said the acquisition by its Brown Consulting unit would add to earnings immediately and extend its reach in civil and urban infrastructure. Spiire, which has about 120 workers, is expected to generate $19 …

The Environmental Defence Society is calling for the government to scrap its draft regulations governing deep sea oil exploration on the same day as Texan oil explorer Anadarko said it was plugging and abandoning the first of the two deepwater wells it’s drilling this summer. While there were some oil and gas shows in the Romney-1 well, drilled in 1.5 …

The New Zealand sharemarket dropped to a four-week low, tracking a decline on Wall Street, after a report showed US manufacturing activity grew at the slowest pace in eight months, fuelling concern about global growth. New Zealand’s benchmark NZX 50 Index fell 58.331 points, or 1.2 percent, to 4,791.171 in morning trading. In the US, the Dow Jones Industrial Average …

Landcorp Farming, which manages 137 farms, more than tripled first-half profit as record milk prices drove up dairy income and said earnings will hold up for the rest of the year. Separately, chairman Bill Baylis announced plans to resign from the board. Operating profit rose to $12.2 million in the six months ended Dec. 31 from $2.5 million a year …

The New Zealand dollar fell to its lowest in more than three weeks against its trans-Tasman counterpart ahead of a Reserve Bank of Australia decision on interest rates today. The kiwi touched 91.85 Australian cents early this morning, its lowest since Jan. 10. The local currency was trading at 92.37 Australian cents at 8am in Wellington from 92.70 cents at …

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