South Island mining OceanaGold Corp is refusing to pay for diesel it bought from Z Energy, which charged for the fuel based on a higher cost of the emissions trading scheme than the New Zealand-owned company actually pays. Z’s lawyers agreed in court the company had charged more than it paid for carbon costs under the ETS, but that there …

The New Zealand gained against its Australian counterpart after the Reserve Bank of Australia kept interest rates on hold, while leaving a future cut on the table if slowing growth and inflation get out of hand. The kiwi rose to 80.88 Australian cents at 5pm in Wellington from 80.66 cents immediately before the announcement, and down from 81.10 cents yesterday. …

Golden State Foods, the biggest US supplier of ingredients to fast-food giant McDonald’s, has bought Wellington-based Groenz Group, adding sauces and condiments to a range that includes the original Big Mac sauce. No price or financials were disclosed in the statement from Irvine, California-based Golden State, which services more than 25,000 fast-food outlets around the world for some 50 companies. …