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Initial shareholders of SLI Systems, the search engine developer, have sold 6.8 percent of the company at the end of a 16-month lock-up period at 23 percent below last year’s offer price. The shareholders sold some 4.2 million of the 40.1 million locked-up shares at $1.15 apiece yesterday, the Christchurch-based software developer said in a statement. That’s below the $1.50 price the shares sold at …

New Zealand Refining, the nation’s only oil refinery, said two unions representing 160 of its workers, or about half its workforce, have served notice of a two-day strike next month, a move that could result in $8 million to $9 million of lost processing fees. First Union and the New Zealand Engineering, Printing and Manufacturing Union gave notice of strike action covering …

Investors in OPI Pacific Finance are still in the dark over the value of a potential deal with the failed lender’s former auditor after ASX-listed Crowe Horwath rejected the OPI receiver’s version of the settlement. Last week, Crowe Horwath, which became liable for the settlement through its acquisition of Lower Hutt-based accounting firm Sherwin Chan & Walshe, said it had reached a deal …

The New Zealand dollar fell alongside the Australian and Canadian dollars on concern slowing growth in China would reduce demand for the countries’ commodities. The kiwi slipped to 81.28 US cents at 8am in Wellington, from 81.56 cents at 5pm yesterday, while the Australian dollar fell to 88.75 US cents from 89.35 cents, and the Canadian dollar dropped to 90.64 US cents …

Equities on both sides of the Atlantic declined, along with commodities including nickel, copper, and oil after an unexpected drop in US existing home sales and comments by China suggesting it might not aim to bolster economic growth as much as expected. In late afternoon trading in New York, the Dow Jones Industrial Average fell 0.43 percent, the Standard & …

New Zealand shares jumped, led by MightyRiverPower, after the National Party’s convincing election victory on the weekend wiped out any regulatory fears for the power companies. Meridian Energy, Genesis Energy and Contact Energy paced gains. The NZX 50 Index advanced 54.947 points, or 1.1 percent, to 5236.292. Within the index, 27 stocks rose, 13 fell and 10 were unchanged. Turnover …

New Zealand shares jumped, led by MightyRiverPower, after the National Party’s convincing election victory on the weekend wiped out any regulatory fears for the power companies. Meridian Energy, Genesis Energy and Contact Energy paced gains. The NZX 50 Index advanced 54.947 points, or 1.1 percent, to 5236.292. Within the index, 27 stocks rose, 13 fell and 10 were unchanged. Turnover was $144.2 million. During the …

The New Zealand dollar gained after the incumbent National Party won a convincing election victory on the weekend, instilling confidence in the administration’s ability to continue pursuing its policy programme. The kiwi rose to 81.53 US cents at 5pm in Wellington from 81.49 cents at 8am, and was up from 81.24 cents on Friday in New York. The trade-weighted index advanced to 78.78 …

The New Zealand dollar is lacking strong drivers this week after volatile trading last week on the back of several major events The kiwi will probably trade between 80.50 US cents and 82.50 cents this week, according to a BusinessDesk survey of 10 currency traders and strategists. Three pick the local currency to decline, four expect a gain and three say it will probably …

 Shares of electricity generators and retailers soared, lifting the benchmark NZX 50 Index, after the National Party’s convincing election victory on the weekend wiped out any regulatory fears for the power companies.  The NZX 50 rose 69.288 points, or 1.3 percent, to 5,250.633 at the open today after the Sept. 20 general election delivered the incumbent National Party the ability …