Online auction site Trade Me, which is on the prowl for more acquisitions, has sold its group-buying Treat Me website for an undisclosed sum in a management buyout. The Wellington-based company expects to complete the sale to a consortium led by Treat Me head James Macavoy in the next month, two years after launching the website, it said in a …

New Zealand shares rose on a day dominated by New Corp’s sales of its Sky Network Television stake, with Warehouse Group leading gainers ahead of its earnings on Friday. The NZX 50 rose 15.55 points, or 0.4 percent, to 4269.16. Within the index, 24 stocks rose, 18 fell and eight were unchanged. Turnover was about $1.03 billion, of which about …

The Reserve Bank of Australia kept its cash rate unchanged at 3 percent as expected, while saying it has room to ease further if needed in the face of tame inflation and noting more stability in the global economy. “The inflation outlook, as assessed at present, would afford scope to ease policy further, should that be necessary to support demand,” …