The government’s plan to auction 4G spectrum in September or October faces delay, with Maori claimants to spectrum rights reactivating a dormant claim to the Waitangi Tribunal by seeking an urgent hearing on the claim. The tribunal’s chief judge Wilson Isaac issued a direction for an urgent remedies hearing yesterday after receiving an application on July 4 to reactivate the …

Energy Mad, whose shares have jumped more than 20 percent this week since it said first-quarter earnings were ahead of budget without giving details, has now released numbers showing it had only expected to earn $7,000. Unaudited earnings before interest, depreciation and amortisation were $120,000 in the three months ended June 30, of which $95,000 related to year-earlier depreciation and …

The New Zealand dollar gave up yesterday’s gains after traders decided comments by Federal Reserve chairman Ben Bernanke were not as dovish as initially thought and were more a reiteration of his previous stance. The kiwi fell to 78.54 US cents, from 79.52 cents at the 5pm market close in Wellington yesterday. The local currency is trading within its range …