Price cuts imposed by the Commerce Commission are negative for Vector though the gas distribution network owner has enough of a cushion to ensure its credit rating doesn’t need to be cut, says Moody’s Investors Service. The competition regulator yesterday confirmed Vector will have to cut its prices by 18 percent, and cut its wholesale gas transmission charges by 29.5 …

State-owned national electricity grid operator Transpower returned to a first-half profit after taking a smaller unrealised hit on its financial instruments than a year earlier, and its earnings margins are tracking ahead of its annual target. The Wellington-based company made a profit of $70.7 million in the six months ended Dec. 31 from a loss of $51.5 million a year …

The New Zealand dollar slipped back below 83 US cents after US growth figures came in lower than economists were expecting, weighing on commodities. The International Monetary Fund said it may cut its US forecast if spending cuts kick in on March 1. The kiwi dollar fell to 82.73 US cents from 83.15 cents at 5pm in Wellington yesterday. The …