Cynotech Holdings is being liquidated following a takeover by 1980s high-flyer Allan Hawkins. Hawkins, the former head of Equiticorp which collapsed after the 1987 share-market crash, began winding down the listed company after taking control in 2010. Interim liquidators have now been appointed to the company by the Auckland High Court, following an application by Hawkins, the company said in …

New Zealand new home building consents fell in June though the decline wasn’t enough to prevent growth in the second quarter from reaching a five-year high, government figures show. New dwelling consents fell 4 percent, seasonally adjusted, in June from May, when they gained 1 percent, according to Statistics New Zealand. The latest two months followed a 21 percent surge …

The New Zealand dollar may extend this year’s 10 percent gain against the Australian dollar should Reserve Bank of Australia governor Glenn Stevens today affirm that a slowing economy justifies further interest rate cuts. The kiwi recently traded at 87.20 Australian cents, little changed from 87.27 cents at the 5pm market close in Wellington yesterday. The local currency weakened to …