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PowerbyProxi, the wireless power developer spun out of Auckland University, has agreed to license its technology to Texas Instruments, allowing the world’s largest analogue chipmaker to add new wireless power and charging products. “Texas Instruments is recognised as the leading supplier of wired and wireless power solutions and respected across consumer electronics devices, industrial systems and battery management,” PowerbyProxi chief …

The value of equities on the NZX rose 24 percent in December from a year earlier to reach 37.8 percent of gross domestic product helped by the listing of $7.5 billion of new capital and a rally in prices that extended from 2012. The market value of equity on the NZX rose to $82.2 billion last month while the value …

The New Zealand dollar advanced after weaker-than-expected economic data in the US tempered expectations over how fast the Federal Reserve may start unwinding its monetary stimulus programme. The kiwi rose to 83 US cents at 8am in Wellington, from 82.56 cents at 5pm yesterday. The trade-weighted index increased to 78.41 from 78.14 yesterday. The US dollar index, which measures the …

Wall Street dropped after disappointing data for the US services industry illustrated that the road to recovery in the world’s largest economy has some potholes. The Institute for Supply Management’s non-manufacturing index slid to 53 in December from 53.9 in November, surprising economists, who had called for an acceleration in the rate of growth. “We think the economy is on …

Pernod Ricard’s New Zealand unit posted its smallest annual loss since 2009 after ending three years of substantial writedowns. The New Zealand holding company, Millstream Equities, narrowed its loss to $9.6 million in the 12 months ended June 30, from $182.3 million, making it the smallest deficit in four years. The Pernod Ricard unit wrote off about $270 million of …

NZ Thoroughbred Holdings, the horse breeding business owned by Australian retailing billionaire Gerry Harvey, narrowed its full-year loss after recognising a gain on the value of its animals. The net loss was $3.97 million in the 12 months ended June 30, 2013, from a loss of $5.28 million a year earlier, according to the company’s annual report. Revenue fell to …

Australian airline Qantas Airways lost ground on trans-Tasman routes last year, though its New Zealand unit still managed to send some $156.2 million back to its parent. The airline’s subsidiary Jetconnect, which manages the group’s trans-Tasman passenger schedule, reported a 17 percent drop in profit to $8.8 million in the 12 months ended June 30, on an 11 percent drop …

The New Zealand dollar will probably continue its upward momentum this week on the back of a positive economic outlook. The local currency may trade between 81.20 US cents and 84.50 cents this week, according to a BusinessDesk survey of 10 traders and strategists. Eight expect the currency to rise while one says it will be unchanged and one expects …

Allied Foods (NZ), whose products include Tip Top bread and Big Ben pies, posted sales that were little changed in 2013, while making its first dividend payment in three years. Revenue was $275.5 million in the year ended Sept. 1, 2013, from $276.6 million a year earlier, according to the company’s annual report filed with the Companies Office. A small …

Michael Hill International, the jewellery chain named for its founder, has appointed Icebreaker executive chairman and former Air New Zealand boss Rob Fyfe as a new director. The appointment takes the retailer’s board to eight directors, of which four, including Fyfe, are independent, the company said in a statement. Fyfe was chief executive of the national carrier between 2005 and …