The New Zealand dollar climbed after the Reserve Bank of Australia kept rates on hold amid an improving economic recovery, and after retail sales and current account data across the Tasman beat expectations. The kiwi climbed to 82.92 US cents at 5pm in Wellington from 82.38 cents at 8am and 82.11 cent cents yesterday. The trade-weighted index rose to 76.12 …

Strong interest in the partial privatisation of MightyRiverPower was apparent today, with some 35,000 people pre-registering their interest in buying shares in the state-owned power company. Despite State-Owned Enterprises Minister Tony Ryall’s saying yesterday he’d sought assurances the www.mightyrivershares.govt.nz website could handle heavy traffic, it crashed briefly in the course of the day. The website provides information to New Zealand investors keen …

Senior tax practitioners are in shock after the Inland Revenue Department won another key tax avoidance case in the Court of Appeal, with implications for at least 16 companies and some $300 million of back tax, interest and penalties at stake. The latest decision, issued this morning, throws out the appeal by Australian listed kitchenware maker Alesco Corp against Inland …