Regulated telecommunications network operator Chorus had a small win in its long-running stoush with the Commerce Commission over the prices it can charge for access to the traditional copper lines network for broadband internet services. However, Chorus chief executive Mark Ratcliffe says the draft new rates, proposed today, will still knock an $80 million hole in annual operating earnings. “This compares …

The New Zealand dollar jumped against the yen after credit ratings agency Moody’s Investors Service cut Japan’s credit rating, The kiwi touched 93.45 yen, its highest level since Nov. 21 when it reached a seven-year high of 93.68 yen. The local currency was trading at 93.32 yen at 8am in Wellington, from 92.87 yen at 5pm yesterday. The New Zealand …

Wall Street fell amid disappointing manufacturing data from China as well as Europe and after a report showed that the start of the US holiday sales season was weaker than expected. China’s manufacturing industry cooled in November, as the official purchasing managers index fell to 50.3, while the HSBC manufacturing PMI weakened to 50, a six-month low. “Today’s data suggest …