Multi-national oil company Shell’s New Zealand arm and local energy giant Todd Energy have breached the new law governing New Zealand’s Exclusive Economic Zone, the Environmental Protection Authority says in an Oct. 10 document released this evening by the Green Party. The two companies’ joint venture, Shell Todd Oil Services (STOS), has been issued with a warning letter only, and no …

New Zealand shares rose to a record close, led by Xero, as investors returned to more risk-based equities after last week’s volatility. Nuplex gained after selling two of its Australasian assets, while Fletcher Building touched a 2014 low as analysts mulled yesterday’s earnings guidance. The NZX 50 Index rose 46.576 points, or 0.9 percent, to 5279.699. Within the index, 35 stocks rose, 11 fell and …

The New Zealand dollar rose after Australian inflation was a little higher than expected in the third quarter, supporting demand for the Australian dollar and dragging the kiwi with it. The kiwi rose to 79.76 US cents at 5pm in Wellington from 79.55 cents at 8am, though little changed from 79.85 cents yesterday. The local currency gained to 90.71 Australian cents from 90.57 cents …