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Budget retailer Warehouse Group is warning its first-half profit will fall by as much as 13 percent after strong Christmas sales failed to compensate for a margin squeeze in the first quarter, higher funding costs, and reduced rental income. Adjusted net profit will be between $46 million and $48 million in the first six months of the retailer’s financial year, …

The New Zealand dollar fell against the greenback amid speculation the Federal Reserve will further trim its bond buying programme when it reviews policy next week. The kiwi fell to 83.06 US cents at 8am in Wellington from 83.22 cents yesterday. The trade-weighted index was little changed at 78.81 from 78.86. The Dollar Index, a measure of the greenback against …

Wall Street was mixed as disappointing results from companies including IBM and Coach left investors uneasy about stock valuations. “It will be easier to unnerve a market with less earnings confidence, and you are seeing companies like IBM and Coach that have come out and leave the investor looking for something substantial to bite into,” Andre Bakhos, managing director at …

New Zealand shares rose for a second day to a two-month high, led by OceanaGold, which exceeded its gold production forecasts, and paced by Fisher & Paykel Healthcare as it reached seven-year highs. The NZX50 advanced 28.668 points or about 0.6 percent to 4950.339. Within the index 26 stock rose, 15 fell and nine were unchanged. Turnover was $107.9 million. …

The New Zealand dollar rose after an unexpected lift in inflation in the December quarter raised the chance of the Reserve Bank hiking interest rates as early as next week. The kiwi rose to 83.21 US cents at 5pm in Wellington from 82.61 cents at 8am and 82.43 cents yesterday. The trade-weighted index advanced to 79.09 from 78.37 yesterday. New …

MyRepublic, a Singapore-based internet service provider, plans to enter the New Zealand market in the middle of this year, targeting services provided over the government-sponsored ultrafast broadband fibre network. The company’s local unit, headed by former Regional Fibre Group chief Vaughan Baker, is pitching itself as a fibre-only ISP and plans to deliver products and services specifically designed for the …

Telecom Corp, the country’s biggest telecommunications company, paid $83 million to win the final lot of 700 megahertz spectrum, flagged for fourth-generation mobile phone use. The Auckland-based company secured the fourth 2×5 MHz lot, having spent $66 million on three lots of 2×15 MHz spectrum in the first auction, it said in a statement. Telecom and Vodafone were bidding for …

Shares in Fisher & Paykel Healthcare are near a seven-year high as the maker of breathing masks and respirators continued an 18-month trend of “winning back favour” with investors, according to an analyst The stock rose 3 percent to $4.09 today, and has steadily climbed 77 percent over the last two years, as it recovered from loss of market share, …

Shares in energy efficient light bulb maker Energy Mad have doubled today, touching a two-year high of 68 cents, after a string of positive announcements about the company’s US market growth. Over the past two years the Christchurch based company has suffered a series of setbacks since its IPO in late 2011, consistently missing prospectus forecasts. Last year it wrote …

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