The New Zealand dollar was little changed as activity ebbed in the lead-up to the Christmas-New Year break, when many local market participants tend to take holidays. The kiwi traded at 77.49 US cents at 5pm in Wellington from 77.58 cents at 8am and 77.47 cents on Friday in New York. The trade-weighted index declined to 78.53 from 78.83 last week. New Zealand’s currency …

NZ Directories Holdings, the owner of the Yellow directories service, is unlikely to be able to repay $500 million of notes next year and may be wound up, with the profitable operations poured into a new vehicle. The company recorded an operating profit of $48.6 million in the 12 months ended June 30, down from $56 million a year earlier. …

US start-up accelerator Y Combinator is investing in kiwi software start-up GlassJar which provides people an easy way of managing their flat finances.  Y Combinator president Sam Altman is currently in New Zealand with Scott Nolan, a partner in top Silicon Valley venture capital firm Founders Fund,  looking for potential investments and speaking at corporate events in Auckland and Wellington. Both …