Telecommunications network operator Chorus won’t meet its contractual obligations to build the bulk of the country’s broadband network if regulated cuts to the wholesale price it charges on its ageing copper lines go ahead, Communications Minister Amy Adams says. Accounting firm Ernst & Young Australia has verbally briefed Adams on whether the Wellington-based company can deliver on its contracts, and …

Brokerage First NZ Capital has been tapped to buy up to 24.8 million Infratil shares for as much as $2.60 apiece for the investment company’s on-market buyback. Infratil’s shares last traded at $2.38 and have gained 4.9 percent this year. The stock is rated a ‘buy’ based on six analysts polled by Reuters, with a median price target of $2.81 …

The New Zealand dollar touched a fresh five-year high against its trans-Tasman counterpart overnight as economic data strengthens expectations Australia may cut interest rates further, increasing the yield appeal of New Zealand’s currency where interest rates are set to rise. The kiwi touched 90.86 Australian cents overnight, and was trading at 90.61 cents at 8am in Wellington, from 90.34 cents …