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Synlait Milk, which twice cut its earnings forecast, posted earnings growth that met revised guidance and said it plans to take a 25 percent stake Sichuan New Hope Nutritional Foods Co to gain a direct interest in a Chinese infant formula brand. Profit rose 70 percent to $19.6 million in the 12 months ended July 31, from $11.5 million a year earlier, …

The New Zealand dollar advanced after the incumbent centre-right National Party won an outright election victory at the weekend, reassuring investors that current economic policies would continue.  The kiwi gained to 81.49 US cents at 8am in Wellington, from 81.24 cents at the New York close and 81.36 cents at 5pm on Friday. The trade-weighted index rose to 78.84 from 78.44 …

The ruling National Party has been very comfortably re-elected at the weekend’s election in New Zealand, delivering Prime Minister John Key a third three year term as the countries leader. Mr Key’s personal popularity with the electorate was a crucial feature during the election, and despite the various late attempts to throw the campaign off track National were actually able …

New Zealand consumer confidence fell in the third quarter amid signs rising interest rates and a slower pace of economic growth are dimming the outlook and kiwis’ spending plans. The Westpac McDermott Miller Consumer Confidence Index fell to 116.7 in the September quarter, from 121.2 three months earlier and from a nine-year high of 121.7 in the March survey. A …

Pumpkin Patch has continued to refresh its board, with chair Jane Freeman the latest to announce her departure, as the childrenswear chain tries to revive falling sales in a changing retail environment. Peter Schuyt, who has been an independent non-executive director since 2012, will take over from Freeman at the start of next month, while former Warehouse Group executive Luke Bunt will …

Pyne Gould Corp’s managing director George Kerr will dilute his stake in the financial services firm if it goes ahead with a planned share issue, which will increase its stake in Equity Partners Infrastructure Co No 1, the so-called EPIC fund, which holds a minority stake in a UK motorway operator, Moto. The Guernsey-based firm wants to lift its stake in the EPIC,  fund to …

New Zealand shares rose in a global rally as Wall Street climbed to records overnight, while a falling New Zealand dollar further supported local stocks. Kathmandu Holdings rose, paced by Fletcher Building and A2 Milk Co. The NZX 50 Index gained 27.163 points, or 0.5 percent, to 5181.345. Within the index, 32 stock rose, nine fell and nine were unchanged. Turnover was $153 million. …

The New Zealand dollar is heading for a 0.2 percent weekly decline against the greenback, after the prospect for higher US interest rates pushed the local currency to a seven-month low. The local currency traded at 81.37 US cents at 5pm in Wellington from 81.51 cents on Friday in New York last week. It traded at 81.43 cents at 8am, up …

Queenstown Airport Corp, the nation’s fourth busiest airport, handled a record number of passengers this winter as it benefited from increased flights and capacity, prompting it to install a $450,000 ‘pop-up’ tent structure for international passengers as it finalises plans for expanding its terminal. Trans-Tasman flights were 25 percent ahead of last winter, with the airport hitting a record 20 international flights on …

Pacific Edge, the non-invasive bladder cancer test maker, has appointed former McKinsey & Co consultant Charles Sitch to its board. Sitch will join the Dunedin-based company’s board on Nov. 1 as an independent director, Pacific Edge said in a statement. Sitch is also a director of Spark New Zealand, and was previously a senior director at McKinsey, working with executives …