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The New Zealand dollar fell after the Federal Reserve signalled rates hikes were on the cards in the coming year, fuelling demand for the greenback, and as the looming Scottish independence referendum and the local general election keep an element of uncertainty in the air for investors. The kiwi traded at 81.05 US cents at 5pm in Wellington from 80.96 cents …

Commercially troubled state coal miner Solid Energy requires an extension of a government guarantee to meet the $103 million future cost of returning mined land to its pre-mined condition in order to maintain positive equity in its balance sheet. The extension of the company’s remediation indemnity extends a similar deal made in 1987, when the then Labour government corporatised state coal mines …

Accounting firm PwC has taken the rare step of chastising another member of its own industry, ASX-listed Crowe Horwath, for understating by half the value of a settlement reached over the auditing of OPI Finance in the failed finance company’s receivership and breaking a confidentiality agreement on the deal. PwC, receivers for OPI Finance, said the settlement with Crowe Horwath was for …

PrimePort Timaru, the South Island hub which has aligned itself with Port of Tauranga, expects a turnaround in its fortunes as it benefits from its tie up with the country’s busiest export port. The Timaru port posted a 12 percent increase in profit to $1.9 million in the year ended June 30. It expects profit to rise further in 2015 as it benefits …

Trilogy International, the skincare and scented candle company, expects to return to profit in the first half of its financial year as Australian sales pick up. Net profit is expected to be $860,000 in the six months ending Sept. 30, from a loss of $269,000 a year earlier, the Auckland-based company said in a statement. Sales will rise 11 percent to …

Investors in listed power companies appear to be betting the National Party will retain the government benches at Saturday’s general election, leaving the sector’s existing regulatory structure intact. The NZX Energy Index has gained 6.8 percent over the past 30 days, outpacing the 2.1 percent increase on the benchmark NZX 50 Index, as polling shows a National-led administration is more likely to …

NZF Group, the financial services company, has entered into a non-binding agreement with an unidentified business for a possible reverse listing, and expects to acquire it by the end of the month. The Auckland-based finance company sought to liquidate itself earlier this year, but was blocked when a major noteholder asked for a special meeting to try and squeeze more …

New Zealand’s economy grew just ahead of expectations in the second three months of the year as the fastest growth in the services sector for seven-and-a-half years offset shrinking activity in the primary sector when global commodity prices were coming of highs. Gross domestic product expanded 0.7 percent in the three months ended June 30, ahead of the 0.6 percent …

The New Zealand dollar dropped to a seven-month low after the Federal Reserve raised its expectation for the level of interest rates by the end of next year, boosting the lure of the greenback.  The kiwi touched 80.73 US cents, and was trading at 80.96 cents at 8am in Wellington, from 81.84 cents at 5pm yesterday. The trade-weighted index fell to 78.09 from …

The hunt for the Islamic State killers of British and American hostages has been hampered by Edward Snowden’s leaks about western spycraft according to claims reported in The Times on September 6. The Times report says intelligence officials, MPs and academics said revelations about the ability of GCHQ, the government’s eavesdropping centre, and America’s National Security Agency to intercept emails, …