A new kind of international pact to ensure taxes and customs duties are collected on goods bought online is proposed in new research by Victoria University’s New Zealand Institute for the Study of Competition and Regulation. Commissioned by Booksellers New Zealand, which has been battling falling local sales of books because of the onslaught of imported books which are ordered …

Rob Flannagan is to step down as managing director of Tower following the completion of the listed insurer’s strategic review and sale of its health and investment units. Flannagan will work out the 12 months of his notice, the company said in a statement. He has led Tower for seven years. “Tower now has a refreshed board with a clear …

The New Zealand dollar was little changed against the greenback ahead of figures forecast to show the economy picked up pace in the fourth quarter. It dropped against the euro on speculation may provide aid as an alternative to an EU bailout. The New Zealand dollar traded at 82.31 US cents from 82.27 cents at 5pm in Wellington yesterday. The …