The New Zealand dollar edged up in local trading as the lowest annual pace of inflation in 14 years gives the Reserve Bank room to keep interest rates on hold, as rising construction costs stay contained. The kiwi rose to 78.28 US cents at 5pm in Wellington from 78.08 cents at 8am and 78.14 cents yesterday. The trade-weighted index traded …

– Renaissance Corp, the retailer of Apple products and operator of a design school, said annual earnings will be another disappointing result due to its ailing retail unit, and it’s shutting four of nine stores in a bid to restore profitability. The Christchurch-based company today closed Apple reseller stores in Albany, Britomart, Sylvia Parka and Dunedin as part of a …

New Zealand’s services sector slipped from a six-year high in June while remaining broadly in expansion mode, led by new orders and sales. The BNZ-Business New Zealand Performance of Services Index fell to 55 last month, from 56.2 in May, still the highest for the month of June since 2007. A reading above 50 indicates expansion in activity. The PSI …