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The New Zealand dollar may decline toward the end of the year, helping exporters such as fishing company Sanford who see the value of their overseas sales eroded when the currency rises. The kiwi, which recently traded at 83.16 US cents, is likely to decline to 79.50 US cents by the end of 2013 as the US starts trimming back …

New Zealand shares fell, paced by Telecom and MightyRiverPower, ahead of a possible US budget stalemate and as the government scheduled a referendum on state asset sales for after the selldown of Meridian Energy that went on sale today. The NZX 50 Index fell 46.292 points, or about 1 percent, to 4736.387. Within the index, 37 stocks fell, four rose …

Global telecommunications giant Samsung of Korea has taken a stake in Kiwi wireless power system innovator PowerbyProxi, investing $4 million in a deal to start licencing the firm’s consumer electronics and home appliance wireless power technology. The strategic partnership is a huge win for PowerbyProxi, a spin-out company from University of Auckland’s School of Engineering, based in the city’s Freeman’s …

The New Zealand dollar may decline this week as investors shun growth sensitive currencies amid a possible US government shutdown. The local currency may trade between 81 US cents and 84.05 cents this week, according to a BusinessDesk survey of nine traders and strategists. Five expect the currency to decline while two expect it to advance and two say it …

New Zealand business confidence climbed to a new five-year high, with construction firms still the most upbeat on profits, hiring and investments. A net 54 percent of firms expect general business conditions to improve in the year ahead, up from 48.1 percent in August and the highest since March 1999, according to the ANZ Business Outlook survey. Firms seeing a …

The main elements of the Labour and Green parties’ policies to reform the electricity market could be in place within a year or two, although ironing out the detail would take considerably longer, says First NZ Capital in a report on the Meridian Energy share float. The report values Meridian at $2 a share on a discounted cashflow basis, but …

Guinness Peat Group has sold its stake in Tower for about $118 million leaving the UK threadmaker Coats as its sole investment and signalling the end of its portfolio divestment. GPG sold about 69.6 million shares at $1.70 apiece, the company said in a statement to the NZX. That’s 5.6 percent below the level they traded On Friday. Today the …

The New Zealand dollar weakened as investors favoured less risky currencies amid rising political uncertainty ahead of a potential US government shutdown as Congress fails to reach agreement on the budget. The kiwi slipped to 82.61 US cents from 82.80 cents at the New York close and 82.90 cents at the 5pm Wellington close on Friday. The trade-weighted index fell …

All eyes are on the partisan political brinkmanship in the US Congress as the deadline for a budget deal to avert a government shutdown at midnight on Monday in Washington is closing in rapidly. While there is still optimism for an agreement, investors realise that it ain’t over till the fat lady sings. Last week, the Standard & Poor’s 500 …

New Zealand shares advanced, pushing the NZX 50 Index to a new record, led by children’s clothing retailer Pumpkin Patch which posted a return to annual profit following a loss the previous year as it restructures its business. The NZX 50 rose 17.206 points, or 0.361 percent, to 4,782.679. Within the index, 22 stocks rose, 20 fell and eight were …