APN News & Media, the publisher of the New Zealand Herald newspaper has shaken up its management structure, leaving out head of digital Matt Crockett, who was reportedly in the running for the top job. The Sydney-based media group has made chief development officer Crockett, a former head of Telecom New Zealand’s wholesale unit, redundant and replaced regional media division …

Air New Zealand’s shares jumped 5.6 percent after the national carrier flagged its annual earnings will more than double this year. The Auckland-based airline expects normalised annual pre-tax earnings, which strips outs unrealised movements in derivatives used to hedge its exposures, to be between $235 million and $260 million in the 12 months ended June 30. That compares to the …

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.5 percent, talking down the threat of soft inflation in recent months and reiterating his view the New Zealand dollar is “overvalued”. The kiwi jumped after the statement. “The high New Zealand dollar continues to be a significant headwind for the tradables sector, restricting export earnings and encouraging demand …