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Telecom Corp, the country’s biggest telecommunications operator, is looking to latch on to rapidly growing data usage with the launch of its 4G mobile services next month. The Auckland-based company will open its long-term evolution mobile network, as the technology is known, on Nov. 12 to customers in Auckland, Wellington and Christchurch on 4G-capable devices at no entry cost, it …

Infratil stock is about 20 percent undervalued given the performance of its investment in Z Energy, the likely avoidance of regulation for Wellington International Airport and a foreign exchange gain, according to First NZ Capital. The brokerage resumed coverage of Infratil with an ‘outperform’ rating following the end of a research restriction due to its role in the sale of …

The New Zealand dollar may be range-bound this week, ending largely unchanged, as investors wait on the sidelines for the US government to end its deadlock. The local currency may trade between 81.50 US cents and 84.50 cents this week, according to a BusinessDesk survey of 10 traders and strategists. Six expect the currency to be largely unchanged with only …

The New Zealand dollar is little changed as investors await the outcome of stalled budget talks in the US. The kiwi traded at 83.12 US cents at 8am in Wellington, from 83.22 cents at the New York close and 82.89 cents in Wellington Friday. The trade-weighted index advanced to 77.26 from 76.77 on Friday. Financial markets are awaiting the resolution …

Nobody has blinked yet in the US budget standoff and lawmakers seem further from rather than closer to reaching an accord, bolstering concern about another political hot potato-the need to raise the federal government’s debt ceiling to avoid default. The partial shutdown of the government as a result of the budget stalemate is now headed into its second week. A …

Z Energy is on track to beat its pre-float prospectus earnings forecasts and is rated a “buy” up to $4.21 a share, says Deutsche Bank, a lead manager in the mid-August Z listing whose research is now public after a statutory “black-out” period. Z shares closed yesterday at $3.81, compared with the issue price at listing on Aug 19 of …

AWF Group, New Zealand’s largest provider of temporary staff, has agreed to buy Madison Group for as much as $36 million to expand into the recruitment of professional workers from its core business of recruiting labourers. Madison Group had sales of more than $56 million in the year ended March 31, compared with AWF’s revenues of $131 million. AWF expects …

The New Zealand dollar weakened on the expectation the US government’s failure to reach agreement on its budget, partially shutting down government services, will only be temporary. The kiwi slipped to 82.66 US cents at 8am in Wellington from 83.05 cents at the 5pm market close yesterday. The trade-weighted index dropped to 76.81 from 77.32 yesterday. Investors are betting fallout …

Stocks gained, while US Treasuries and gold fell, amid expectations that the US government’s partial shutdown over lawmakers’ failure to agree on a federal budget will be short-lived and the impact on the economy limited. In late afternoon trading in New York, the Dow Jones Industrial Average rose 0.40 percent, the Standard & Poor’s 500 Index climbed 0.76 percent, and …