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Sky Network Television has been let off with a warning for allegedly anti-competitive clauses in its contracts with resellers of its broadcast content because the Commerce Commission says it would cost too much to prosecute for breaches that are not relevant to future behaviour. However, Sky TV will face no prohibition on including the same clauses in future contracts, as …

nfratil chairman David Newman has stepped down from the board of the infrastructure investor for a period of medical leave. Newman, who has been chair since 2004, will also take a leave of absence of Wellington International Airport, where he is also chairman, and from his director’s role at Infratil Airports Europe, the company said in a statement. He has …

Abano Healthcare, the specialist medical investor, is calling on a consortium mounting a hostile takeover bid to put a price on the audiology unit it plans to dump for a nominal value if the acquisition succeeds. The healthcare firm’s board has requested the bidders, made up of the company’s biggest shareholder and former director Peter Hutson, Australian private equity firm …

The New Zealand dollar advanced against its Australian counterpart ahead of business confidence surveys in both countries today which may show the divergent paths of the two economies. The kiwi rose to 88.22 Australian cents at 8am in Wellington from 87.95 cents at the 5pm market close yesterday. The local currency advanced to 83.30 US cents from 82.85 yesterday. The …

US stocks fell, while Treasuries rose, amid continuing concern about the ongoing impasse over US federal government funding and the potential risk of a debt default. In afternoon trading in New York, the Dow Jones Industrial Average dropped 0.57 percent, the Standard & Poor’s 500 Index shed 0.49 percent, and the Nasdaq Composite Index fell 0.68 percent. Declines in Visa, …

New Zealand shares fell, with trading muted as some Australian states celebrated Labour Day and with no sign politicians in Washington can break their budget standoff. Fletcher Building paced the decline and Sky Network Television gained. The NZX 50 Index fell 3.34 points, or 0.1 percent, to 4756.044. Within the index, 19 stocks fell, 19 rose and 12 were unchanged. …

Bay of Plenty iwi Te Arawa has appointed one-time joint chief executive at Fletcher Forests, Ian Boyd, to head its commercial entity, Te Arawa Group Holdings. Te Arawa settled its Treaty claims in 2009 with a $34 million cash settlement and established TAGH to undertake its commercial operations, which include forest and farm ownership, as well as the recently purchased …

The New Zealand dollar drifted lower, while remaining within its recent range, as the stalled budget talks in the US kept traders from taking big positions, while a business confidence survey tomorrow is expected to affirm the strength of the local economy. The kiwi traded at 82.82 US cents at 5pm in Wellington, from 83.12 US cents at the start …

The New Zealand government posted a smaller operating deficit than forecast in the May budget on a bigger corporate tax take and less spending on the Canterbury earthquake than expected, and is sticking to its target to reach a surplus by the 2015 financial year. The operating balance before gains and losses (obegal) was $4.41 billion in the 12 months …

Port of Tauranga, New Zealand’s largest export port, may increase its dividend payout ratio and make additional capital payments to investors as cash flows return to normal levels after a period of higher spending, according to brokerage Craigs Investment Partners. The port company will probably spend an average $48 million a year over 2012-16 to complete its current expansion and …