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Summerset Group, whose shares have made more than three times the gains of the NZX 50 Index in the past 12 months, said sales of occupation rights jumped 50 percent in the fourth quarter from a year earlier. The retirement village operator had 60 new sales and 51 resales in the final three months of 2013, up from 43 and …

OceanaGold Corp, the Melbourne-based mining group, plans to scale back its operations and shed staff at the Macraes goldfield in Otago in response to a falling gold price, and has flagged smaller production and an impairment charge in 2014. The mining group’s board has signed off on a plan to cut costs at Macraes, which has been operating for 23 …

The New Zealand dollar rose to a three-week high against the Australian dollar overnight as investors bet the fundamentals for the kiwi are more favourable than for its Australian counterpart this year. The kiwi touched 92.98 Australian cents overnight and was trading at 92.76 cents at 8am in Wellington, from 92.50 cents at 5pm yesterday. The local currency edged up …

Equities and bonds advanced as a larger-than-expected drop in the US trade deficit bolstered optimism about the accelerating pace of growth in the world’s largest economy, while a Federal Reserve official recommended maintaining a high level of stimulus. The US trade deficit narrowed more than expected in November, shrinking 12.9 percent to US$34.3 billion, Commerce Department data showed. “The report …

Dairy product prices fell in the first GlobalDairyTrade auction for 2014, led by skim milk powder while rennet casein made a new record high. academic essay service The GDT Price Index dropped 0.8 percent compared to the last sale two weeks ago. The average winning price was US$4,943 a tonne, still an elevated level, from US$4,990 a tonne. Skim milk …

New Zealand shares fell, paced by Fletcher Building, while Diligent Board member Services and Wynyard Group led gains among companies favoured for their growth outlook. The NZX 50 Index fell 5.693 points, or 0.1 percent, to 4759.625. Within the index, 21 stocks fell, 22 rose and seven were unchanged. Turnover was $76 million, the most since before the Christmas-New Year …

The New Zealand dollar pared gains in local trading after figures showed Australian exports were flat in November, disappointing investors who were hoping for growth. The kiwi traded at 82.60 US cents at 5pm in Wellington from 83 cents at 8am and little changed from 82.56 cents yesterday. The trade-weighted index was little changed at 78.18 from 78.14. Australia’s trade …

Shell New Zealand and its joint venture partners OMV New Zealand and Mitsui E&P Australia are to drill an exploration well in the Great South Basin, off the South Island’s southeast coast, in a move the energy industry hopes will create ‘the next Taranaki.’ Shell, the operating partner, may begin drilling in 2016. The partners have an interest in two …

Wynyard Group shares climbed to a record after the intelligence software developer announced its latest contract win in the Middle East. The stock rose as high as $1.38 and recently traded at $1.36, up 14 percent on the day. It’s rated a ‘hold’ by two analyst recommendations compiled by Reuters, with a median target price of $1.40. United Arab Emirates …

The Court of Appeal has tossed out a bid by a group of former Reserve Bank senior managers, including ex-assistant governor David Archer, to top-up their pensions, and upheld an earlier Employment Court ruling. In a Dec. 17 judgment, Justices Rhys Harrison, Douglas White and Forrest Miller dismissed an appeal by the former RBNZ senior staffers which would have forced …