The Government has abandoned controversial plans to impose a tax on employee- paid carparks in Wellington and Auckland after a backlash that rallied opponents ranging from unions to business lobbies. Finance Minister Bill English said today in a statement that while the proposed tax was made as a matter of fairness, the government needed to be pragmatic in a situation …

The New Zealand dollar may fall this week, with the US Federal Reserve’s statement on Thursday and fallout over Cyprus’s bailout likely to trump local economic growth and balance of payments data. The kiwi dollar recently traded at 82.23 US cents, down from 82.72 cents in New York trading on Friday. It may trade in a range of 81 cents …

Dunedin-based bladder cancer detection test inventor Pacific Edge believes it could be turning over $100 million a year in the United States within five years, following the registration of its own diagnostic laboratory in Pennsylvania. The closely held, NZX-listed company announced the registration milestone today, saying its Hershey, Pennsylvania laboratory had received CLIA (Clinical Labour Improvement Amendment) registration, allowing it …