The New Zealand dollar is heading for an 11 percent slump in the September quarter as global demand for the greenback has rallied on the prospect of rising US interest rates next year, and as the Reserve Bank of New Zealand confirmed it had been active in the currency market, having jawboned the kiwi since July. The local currency fell to 78 …

Vitaco Health Group, the food supplements business majority owned by Australian private equity firm Next Capital, has cut a deal with the Inland Revenue Department which will see it give up $29.9 million of tax losses generated from mandatory convertible notes, which it has also pledged to unwind. The Auckland-based company entered into a settlement deed with New Zealand’s tax department …

Air New Zealand chief executive Christopher Luxon has defended its pricing on domestic regional routes, saying it’s one of only a few airlines in the world servicing as many smaller towns as it does, and that such routes are often considered uneconomic. Speaking at the airline’s annual meeting in Christchurch, Luxon told shareholders regional airline economics are “very challenging” and will …