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The New Zealand dollar, which has advanced 3.4 percent so far this year, is unchanged ahead of the Reserve Bank meeting today where governor Graeme Wheeler is widely expected to increase interest rates by a quarter point. The kiwi was unchanged at 84.67 US cents at 8am in Wellington, from 5pm yesterday and 81.91 cents at the start of the …

With the Standard & Poor’s 500 Index near record highs, investors are trying to weigh the positive outlook for the US economy with concern about signs of economic trouble in China and the ongoing Ukrainian crisis. In afternoon trading in New York, the Dow Jones Industrial Average dropped 0.21 percent, as did the Standard & Poor’s 500 Index. The Nasdaq …

The New Zealand unit of Australia’s GTL Energy posted a wider loss last year, reflecting its share of costs to develop Solid Energy’s now-idled Mataura briquette plant. GTL Energy (New Zealand) had a loss of $761,289 in the year ended June 30, from a loss of $205,431 a year earlier, according to its annual report. It garnered no revenue while …

The receiver for Bridgecorp has reached a deal with the former directors and insurer of the failed lender, which will boost the payout to investors by 4 cents in the dollar. PwC’s Colin McCloy reached an $18.9 million settlement over a civil claim against the directors that they had breached their duties under the Companies Act, he said in a …

New Zealand guest nights spent in short term commercial accommodation barely budged in January as an increase in hotel stays was offset by a drop for motels, backpacker and holiday park stays. Adjusted national guest nights, which strip out seasonal and irregular movements, rose 0.1 percent in January, after slipping 0.2 percent the previous month, according to Statistics New Zealand. …

Trade Me Group will probably succeed in forcing real estate agents to accept higher fees, adding $22.5 million of property advertising revenue by 2017 as it pushes back on a challenge from smaller, industry-owned rival realestate.co.nz. Property is seen as the key growth engine for Trade Me’s classified advertising business as it faces flat revenues in its other main general auctions …

The trade-weighted index, which measures the New Zealand dollar relative to the currencies of major trading partners, rose to a post-float record, prompting speculation Reserve Bank governor Graeme Wheeler will try to talk down its value when he announces an interest rate hike tomorrow. The trade-weighted index jumped as high as 79.68 overnight, up from 79.50 yesterday and surpassing its …

Skellerup, the industrial rubber goods maker, has reached a $32.3 million settlement with insurers over claims from the Canterbury earthquakes in 2010 and 2011 which prompted the relocation of its Christchurch manufacturing facility. The Auckland-based company will receive some $22.3 million this month on top of the $10 million it’s already been paid to cover includes costs that have been …

Wall Street slid amid ongoing concern about an international standoff in Ukraine, while copper continued its slump because of worries about the slowing pace of growth and more corporate bond defaults in China. Increasing tension between the US, the European Union and Russia about Ukraine remains a concern for investors. While that has weighed on equities, it increased the appeal …

New Zealanders spent more on their credit and debit cards in February, fuelled by spending on hospitality, while durables and apparel rebounded from declines in January. The value of electronic card spending on retail rose 0.9 percent to a seasonally adjusted $4.58 billion in February, according to Statistics New Zealand. Core retailing, which excludes spending on fuel and auto-related items, …