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Equities declined on both sides of the Atlantic, continuing the trend of January, as data showed that China’s manufacturing fell last month, while US manufacturing activity grew at the slowest pace in eight months, fuelling concern about global growth. The US Institute for Supply Management’s factory index dropped to 51.3 in January, from 56.5 in December. China’s purchasing managers’ index …

New Zealand stocks fell today, joining a global sell-off as disappointing Chinese manufacturing data stoked concerns the global economic recovery may falter. Xero, Chorus and SkyCity Entertainment Group led the decline. The NZX 50 Index fell 25.081 points, or 0.5 percent to 4849.502. Within the index, 23 stocks fell, 19 rose and eight were unchanged. Total turnover for the day …

The government has received advice saying the partial privatisation of Genesis Energy is achievable in current market conditions and a decision on timing is expected “soon,” Prime Minister John Key says. The largest of the ‘big four’ electricity company by customer numbers, but the smallest by asset value, Genesis is the last to be lined up for sale of up …

NZX, New Zealand’s market operator, has taken another step towards expanding its dairy derivatives market into the US with approval to allow direct access for American customers. NZX is now a registered Foreign Board of Trade under the US Commodity Exchange Act, allowing US investors’ direct access to trade in New Zealand dairy derivatives. Whole milk powder options and futures, …

The Ministry for Primary Industries will impose a controlled area in Whangarei and is contacting international partners after finding a Queensland fruit fly in the country’s northernmost city. The ministry plans to restrict the movement of fruit and vegetables out of a defined area in Whangarei as it looks to minimise the risk to the local horticultural industry after discovering …

New Zealand manufacturing activity expanded for a 15th straight month in December, with more production likely in the coming year on strong new orders and dwindling inventories. The BNZ-BusinessNZ seasonally adjusted performance of manufacturing index slipped to 56.4 from 56.7 in November, but was up from 50.7 in December 2012. A reading above 50 indicates expansion in the sector. New …

Meridian Energy sold more electricity in the first six months of the current financial year than in the previous year, but prices achieved were significantly lower, despite what the company says are signs that growth in demand emerging after a long period of weakness. In its monthly operating report for December, the government-controlled power company, whose instalment receipts covering 49 …

Michael Hill International, the jewellery chain that bears the name of its founder, expects first-half earnings to rise after reporting a 10 percent lift in sales over the period. Earnings before interest and tax were between A$29 million and A$30 million in the six months ended Dec. 31 from A$28.6 million a year earlier, the Brisbane based jeweller said in …

Budget retailer Warehouse Group is warning its first-half profit will fall by as much as 13 percent after strong Christmas sales failed to compensate for a margin squeeze in the first quarter, higher funding costs, and reduced rental income. Adjusted net profit will be between $46 million and $48 million in the first six months of the retailer’s financial year, …

The New Zealand dollar fell against the greenback amid speculation the Federal Reserve will further trim its bond buying programme when it reviews policy next week. The kiwi fell to 83.06 US cents at 8am in Wellington from 83.22 cents yesterday. The trade-weighted index was little changed at 78.81 from 78.86. The Dollar Index, a measure of the greenback against …