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New Zealand shares fell with Australian shares ahead of the federal election and after that nation unexpectedly posted a trade deficit. Telecom and Fletcher Building paced the decline, along with Australia & New Zealand Banking Group and Westpac Banking Corp. The NZX 50 Index fell 5.955 points, or 0.1 percent, from a four-month high to 4604.351. Within the index, 26 …

The New Zealand dollar held its gain in local trading after investors got more optimistic over global growth on the strength of Chinese services data, and ahead of US employment figures. The kiwi traded at 78.98 US cents at 5pm from 79.07 cents at 8am, up from 78.08 cents yesterday. The trade-weighted index advanced to 74.68 from 74 yesterday. Risk-sensitive …

Trade Me Group’s earnings growth may to slow to about 8 percent in the coming year as New Zealand’s largest online auction site reinvests in its business, from a 12 percent pace last year, before picking up again in 2015 as its investments pay off. Trade Me chief executive Jon Macdonald said he is comfortable with analyst estimates in a …

Fundamental changes to the Resource Management Act will produce no more certainty than the current law and will introduce new conflicts that the courts will have to untangle, says top law firm DLA Phillips Fox. In an opinion prepared for the Environmental Defence Society, the firm warns that merging Sections 6 and 7 of the RMA, which deal with the …

Andrew Robinson, who was struck off as an authorised financial adviser in December, and Mark Turnock have been charged following an investigation into Strategic Planning Group and SPG Investment Company No. 1. Robinson, a former director of Strategic Planning and current director of SPG Investment, appeared in the Auckland District Court today to face five charges laid by the Serious …

The Australian Competition and Consumer Commission won’t stop national carrier Air New Zealand from lifting its stake in Virgin Australia, two days after extending their airlines’ trans-Tasman alliance. The Australian antitrust regulator said it won’t oppose Air NZ’s proposal to lift its investment in Virgin to as much as 26 percent, the ACCC said in a statement. The New Zealand …

Mobile phone operator 2degrees is questioning the government’s minimum reserve price of $198 million for new fourth generation (4G) mobile spectrum, saying it’s well above prices being paid for existing spectrum. Communications Minister Amy Adams announced the auction of spectrum in the 700 Megahertz range from Oct. 29, after spending $157 million clearing the spectrum of analogue television broadcasting to …

Derma Sciences, the Nasdaq-listed company with exclusive global rights to Comvita’s Medhoney wound care products, has taken a 7.3 percent stake in the Te Puke-based Manuka honey products firm via a discounted placement. Comvita raised about $9 million selling about 2.3 million new shares to Derma at $3.90 apiece, a 3.7 percent discount to the stock’s closing price on the …

Rural Equities, the farming group controlled by the Cushing family, reported a 31 percent drop in annual profit as property revaluations lagged behind those from a year earlier, and as the North Island’s worst drought in seven years ate into operating earnings. Net profit fell to $10.9 million in the 12 months ended June 30, from $15.8 million a year …

The New Zealand dollar surged on optimism global economic growth is recovering and as safe haven currencies declined in light of no imminent western military action in Syria. The kiwi jumped to 79.07 US cents at 8am in Wellington from 78.08 cents at 5pm yesterday. The trade-weighted index advanced to 74.70 from 74 yesterday. Growth-sensitive currencies such as the kiwi …