Xero, the cloud-based accounting firm, burned through more cash last quarter as the company’s rapid expansion saw wages, advertising and marketing payments run ahead of sales. The Wellington-based company’s cash flow statement shows it was sitting on $68.8 million of cash as at June 30, down $9.4 million from three months earlier. It used $6.57 million in the first quarter …

Auckland International Airport, the country’s main gateway, isn’t extracting excessive profits as its expected earnings fall just within the regulator’s tolerance. The Commerce Commission found information disclosure regulations have had a positive influence on the airport’s behaviour and have been effective in limiting its ability to extract excessive profits, deputy chair Sue Begg said in a statement. The antitrust regulator …

The New Zealand dollar is little changed after Fonterra Cooperative Group hiked its 2014 forecast payout and ahead of a statement today which may provide further clues on when the US Federal Reserve is likely to pare back monetary policy stimulus. The kiwi was little changed at 79.85 US cents, from 79.92 cents at the 5pm market close in Wellington …