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The annual deficit in New Zealand’s dealings with the rest of the world fell, in line with consensus forecasts, to 2.5 percent of gross domestic product in the year to June 30, hitting what economists expect will prove to be a cyclical lowpoint. Falling prices for key export commodities, especially dairy products, and a weaker New Zealand dollar are expected …

Restaurant Brands New Zealand, the nation’s largest fast-food operator, increased second quarter revenue 5.8 percent as it benefited from increased sales at its largest KFC fried chicken chain and ramped up expansion at its newest Car’s Jr burger chain. Sales rose to $108 million in the 16 weeks ended Sept. 8, from $102 million in the year earlier quarter, the …

Standard & Poor’s affirmed New Zealand Post’s issuer credit and related debt rating at A+/A-1 with a long term negative outlook, while cutting its hybrid notes to ‘junk’ status. NZ Post would receive a “very high level of extraordinary support” from the government in times of financial stress, but this wouldn’t be extended to the $200 million of hybrid notes the national …

The anti-corruption campaign which has swept across China in the last two years has gone global, as Beijing seeks to enlist the help of western democratic governments in pursuing officials who flee overseas. Underlining Beijing’s rising economic and political clout, Communist party officials have already launched an investigation into assets and individuals based in New Zealand, a country that counts China as …

Dairy product prices rose in the latest GlobalDairyTrade auction, inching higher from the lowest level since July 2012, as declines in butter milk powder and cheddar were offset by gains in rennet casein and skim milk powder. The GDT average winning price crept higher to US$2,795, up from US$2,787 two weeks ago. Some 50,801 tonnes of product was sold, down …

The New Zealand dollar advanced as investors pulled back expectations for the Federal Reserve to signal a rise in interest rates at this week’s meeting and on reports China is adding liquidity to its banks to bolster economic growth. The kiwi rose to 81.97 US cents at 8am in Wellington, from 81.61 cents at 5pm yesterday. The trade-weighted index gained to …

NZAX-listed Snakk Media is considering offering employees shares in the company as part of their remuneration package. At the annual meeting in Auckland yesterday, chairman and major shareholder Derek Handley said the board would consider extending the current Employee Share Options plan to include a mix of equity and options. That comes as the company, which helps brands find and …

Wall Street advanced as a report showed a gauge of US inflation was unchanged in August, which helped fuel expectations Federal Reserve policy makers might hold on to their plan to keep interest rates low for a “considerable time.” Fed policy makers began their two-day gathering on Tuesday. Fed Chair Janet Yellen, who will hold a press conference at the …

Would-be Kiwi politician Kim Dotcom’s “moment of truth” passed with some concerning (but not unexpected) revelations about government spying activity in New Zealand. Despite the heavy press presence and the rather dramatic way in which the “evidence” was unveiled, there didn’t appear to be much that would have surprised the Prime Minister, or which will hurt him in the last …

Dairy product prices rose in the latest GlobalDairyTrade auction, inching higher from the lowest level since July 2012, as declines in butter milk powder and cheddar were offset by gains in rennet casein and skim milk powder. The GDT price index crept higher to US$2,795, up from US$2,787 two weeks ago. Some 50,801 tonnes of product was sold, down from …