The New Zealand dollar was little changed after figures showed Australia’s economy got a boost from increased consumer spending, offsetting the decline in its resources sector. The kiwi traded at 75.55 US cents from 75.58 cents at 8am, up from 75.26 cents yesterday. The local currency increased to 96.59 Australian cents from 96.35 cents yesterday. Australian Bureau of Statistics figures showed the country’s economy …

Woolworths has taken a near $28.3 million haircut on its investment in Warehouse Group after James Pascoe, the retail group owned by David and Anne Norman, bought the Australian supermarket chain’s stake in New Zealand’s largest listed retailer. James Pascoe paid $87.1 million to acquire Woolworths 30.55 million Warehouse shares at $2.85 a piece in an off-market sale, substantial shareholder notices lodged with NZX yesterday show. That’s …

Carter Holt Harvey’s cladding sheets and systems used through 880 school buildings were “inherently defective” and the Ministry of Education is entitled to sue the building products maker, the Court of Appeal heard today. In the second day of a three-day hearing, the ministry’s counsel, Jim Farmer QC, told Justices Tony Randerson, Lynton Stevens, and Mark Cooper that the product …