The New Zealand dollar extended its decline against its trans-Tasman counterpart after faster-than-expected second-quarter growth in Australia dulled expectations that country’s Reserve Bank will have to cut interest rates further. The kiwi fell to 85.81 Australian cents at 5pm in Wellington from 86.11 cents immediately before the gross domestic product figures were released, and down from 86.63 cents yesterday. The …

The government plans to begin its auction of fourth generation mobile broadband radio spectrum on Oct. 29 and will be seeking a minimum of $198 million for the rights, which are expected to be fought over by Telecom, Vodafone, and 2degrees. However, potential operators who have yet to build their own mobile network will also be able to bid. The …

State-owned broadcaster Television New Zealand is still ironing out the details of its dividend relief with its shareholding ministers, which will be linked to the cost of upgrading its Victoria St West building and won’t go beyond 2016. The Auckland-based broadcaster today announced the sale of two plots of prime Auckland real estate to SkyCity Entertainment Group for $10.6 million, …