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The New Zealand dollar extended its decline in local trading after government figures showed the biggest monthly trade deficit in almost five years, and after rotten apple exports into China became the latest unsanitary food consignment to the country’s biggest trading partner. The kiwi fell to 82.27 US cents at 5pm in Wellington from 82.70 cents at 8am and 83.35 …

Kathmandu Holdings rose to an all-time high as analysts upgraded estimates following the outdoor equipment and clothing retailer record full-year earnings and bullish outlook statement. Shares in Kathmandu touched a record $3.40, and were recently up 5.4 percent to $3.35, taking their gain so far this year to 60 percent. The shares gained 12 percent yesterday after the company reported …

Hansells Food Group breached a lending covenant with ANZ Bank New Zealand because of a loss of earnings at its Australian subsidiary stemming from a customer’s trademark dispute with another company. The Hansells unit had been making products for the customer under a brand which became the subject of a dispute and subsequently had “significant lost sales,” according to its …

Trade Me, New Zealand’s largest online auction site, wants to increase the pool of fees for its directors by 23 percent to accommodate paying for two director positions which were previously funded by Fairfax Media. The company will ask shareholders at its annual meeting in Wellington next month to increase the fee pool for its directors to $800,000 from $650,000, …

The liquidator for the failed Mainzeal construction group is preparing to face off with several related entities over some “highly intermingled” transactions. BDO’s Brian Mayo-Smith, Andrew Bethell and Stephen Tubbs are chasing $46.6 million in related party debt in separate actions as they try to untangle the effects of two significant restructures two years prior to the collapse that had …

New Zealand’s monthly trade deficit was the biggest in almost five years in August as the one-off arrival of a drilling platform skewed imports, and export growth was minimal in a month where the country’s food safety was under heightened global scrutiny. The monthly deficit widened to $1.19 billion in August from $771 million in July and $812 million a …

Fonterra Cooperative Group posted full-year earnings that met its guidance as drought in the second half eroded returns from New Zealand Milk and rivalry eroded Australian margins, while sales grew in the rest of the world. Normalised earnings before interest and tax fell 3 percent to $1 billion, the Auckland-based company said in a statement. That meets the guidance it …

The New Zealand dollar weakened as investors sold off higher risk assets as they mull yet again the prospect of the US Federal Reserve pulling back its US$85 billion a month bond buying programme. The kiwi fell to 82.70 US cents at 8am in Wellington from 83.35 cents at the 5pm market close yesterday. The trade-weighted index slid to 77.10 …

Wall Street was mixed as investors weighed reports underpinning the recovery in the US housing market, with signs rising mortgage rates might curb home buyers’ appetites and consumer confidence remains weak. In late afternoon trading in New York, the Dow Jones Industrial Average slipped 0.11 percent. The Standard & Poor’s 500 Index rose 0.16 percent, and the Nasdaq Composite Index …

New Zealand shares snapped a two-day slide after Kathmandu delivered record earnings and Sky Network Television rose in continued heavier-than-average trading. Fletcher Building rose after falling from a five-year high reached last week. The NZX 50 Index, which touched a record high last week, rose 9.213 points, or 0.2 percent, to 4710.587 Within the index, 16 stocks rose, 24 rose …