Datacom Group, the Wellington-based IT services firm, doesn’t envisage any change in its direction after 35 percent shareholder New Zealand Post sold its stake to the New Zealand Superannuation Fund. State-owned postal service NZ Post has sold its share for $142 million, reaping a net gain of $76.4 million. The sale of shares in Datacom “is a move out of …

New Zealand’s services sector growth slowed last month after a surge in activity in October, and is another indicator underlining what’s been a tepid economic recovery. The BNZ-Business New Zealand performance of services index fell 4 points to 54.1 in November. A reading above 50 indicates a sector is growing and a reading below 50 indicates contraction. The survey comes …

The New Zealand dollar looks set to breach 85 US cents for the first time in 15 months provided third-quarter growth figures don’t disappoint and Washington remains stalled on fiscal cliff talks. The kiwi dollar recently traded at 84.60 US cents from 84.56 cents in New York on Friday. The trade-weighted index rose to 75.45 from 75.31. The local currency …