Telecom, which is aiming to cut its workforce by as much as 16 percent this year, said annual earnings will be at the low end of guidance because of competition in fixed-line sales and a margin squeeze at its Gen-i unit. Adjusted earnings before interest, tax, depreciation and amortisation would be between $1.04 billion and $1.06 billion, the company said …

Momentum helped lift Wall Street to records earlier in the day, even as US and European economic data disappointed some investors about the pace of the recovery. The Dow Jones Industrial Average climbed to a record high of 15,301.34, while the Standard & Poor’s 500 Index hit a record 1,661.49 in morning trading before giving up some of those gains …

With the 2013 Pacific Partnership Forum just days away from opening, new research has been released reinforcing the importance of the United States as a trading partner for New Zealand. The research, commissioned by the NZ US Council was conducted by the New Zealand Institute of Economic Research and analyses the economic and trade relations between the US and NZ. …