Rakon’s founding Robinson family, which has the biggest stake in the company and three seats at the board, bought almost 367,000 shares in the ailing GPS components maker last week for about $81,500. The two on-market purchases on July 9 and 11 were at an average price of 22.2 cents per share, and came after the Auckland-based firm said it’s …

The New Zealand dollar will probably take its lead from the US this week, where traders will be looking for guidance from Federal Reserve chairman Ben Bernanke on future monetary stimulus. The local currency may trade between 76 US cents and 79.50 cents this week, according to a BusinessDesk survey of 10 traders and strategists. Four expect the New Zealand …

Would-be West Coast coking coal miner Bathurst Resources has taken another small step closer to open cast mining on the Denniston Plateau following the High Court’s rejection of an appeal on a side issue from the Royal Forest & Bird Protection Society of New Zealand. Justice John Fogarty’s judgment, issued July 11, finds no merit in Forest & Bird’s attempt …