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Primary Industries Minister Nathan Guy has officially declared the a drought to be across the whole of the North Island, opening up access to welfare for farmers stricken by the arid conditions. The extension to the declaration means the rest of the North Island joins Northland, North Auckland, South Auckland, Waikato, Bay of Plenty and Hawkes Bay as being official …

Wall Street advanced, pushing the Dow Jones Industrial Average to another record, as jobless claims posted a surprise drop last week, offering the latest clue that the labour market is gathering strength along with the rest of the economy. Initial claims for state unemployment benefits declined 10,000 to a seasonally adjusted 332,000, according to Labor Department data. Economists had expected …

Chief negotiators report that they had achieved the goal set for the round: to put the negotiations on an accelerated track toward conclusion of a next-generation, comprehensive agreement in the 2013 time frame envisioned by President Obama and the leaders of the ten other TPP countries. Through the TPP, the United States is seeking to help establish a trade and …

  Face-to-Face is a new feature from newzealandinc.com where we sit down for a chat with young business leaders from around the globe. We’ll be running a special series of these from China where we talk to young New Zealanders doing big things on the ground here. Shifting lenses and taking a look at China from the perspective of a …

The government’s flagship innovation vehicle, Callaghan Innovation, will be led by Mary Quin. Described by Business, Innovation and Employment Minister Steven Joyce as “an exceptional New Zealander with an impressive track record of working in the US engineering and technology sector,” Quin trained as a material scientist, with a doctorate from Northwestern University, Illinois. A graduate of Canterbury University’s engineering …

Solid Energy opposed the government’s pressure to load more debt on its balance sheet in 2009, but the biggest driver of the $389 million debt that has driven the company into crisis were decisions of its own to invest in the open-cast Stockton and underground Spring Creek mines. The financially distressed state coal miner’s former chairman and chief executive, John …

New Zealand shares rose after the Reserve Bank sparked a drop in the kiwi dollar, lifting prospects for companies with export sales such as Fisher & Paykel Healthcare. Xero rose to a record again, hitting $10 for the first time. The NZX 50 Index rose 39.95 points, or 0.9 percent, to 4381.09. Within the index, 26 stocks rose, 14 fell …

The New Zealand dollar sank to a four-month low against the greenback after the Reserve Bank threatened to cut interest rates if the currency appreciates unreasonably, and tumbled to a two-month low versus the Australian dollar after better than expected jobs figures across the Tasman. The kiwi fell to 81.74 US cents at 5pm in Wellington from 82.60 cents immediately …

The Reserve Bank’s prospective new toolkit to iron out asset bubbles won’t be able to stop a rampant Auckland housing market when it comes into play later this year, and would have a smaller impact than a rate hike. Deputy Governor Grant Spencer told Parliament’s finance and expenditure committee the macro-prudential tools currently being consulted on won’t stop Auckland’s “housing …

The New Zealand dollar dropped by about 1 US cent and swap rates fell after the Reserve Bank warned a surging kiwi for no good reason may force a rate cut, and said it doesn’t plan to budge on the official cash rate this year. The kiwi dollar sank as low as 81.63 US cents from 82.60 cents immediately before …