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The New Zealand dollar may fall this week, extending its decline in New York on Friday when US employment data added to signs the world’s largest economy is reviving. The New Zealand dollar recently traded at 82.06 US cents from 82.11 cents in New York on Friday, when it traded above 82.86 cents before the non-farm payrolls report. It may …

Wellington Drive Technologies, the unprofitable manufacturer of energy efficient motors, raised $4 million in a placement to institutions, managers and existing investors such as SuperLife Investments. The stock jumped when it came off trading halt following the statement. The Auckland-based company said it is making the placement in two tranches – 16 million shares in a private placement to institutions …

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QBE Insurance (International), a unit of Australia’s biggest insurer, has settled its battle with former executive Craig Anderson over a $1.5 million liability the firm feared would arise from underwriting business to the failed Herbert Insurance Group. The Employment Court has signed off on a confidential settlement “which disposes of all the issues in these proceedings” and sealed the file, …

New Zealand banks face what’s expected to be the biggest class suit the country’s seen over $1 billion in default fees claimed by lenders over the past six years. Three of Australasia’s biggest law firms will announce the class suit to reclaim the fees, according to a statement. The fees are charged when customers overdraw their accounts, pay credit card …

Prime Minister John Key has welcomed the Chilean Government’s move to extend its “Penguins Without Borders” scheme, which sees high-achieving Chilean students travelling to New Zealand for six-monthly study visits.  “Penguins Without Borders enables some of Chile’s most ambitious and brightest high school students to experience the best our education system has to offer,” says Key. “Chile’s Economy Minister, Pablo Longueira, …

New Zealand shares rose, extending the NZX 50 Index’s gain to a new record, as investors piled into Diligent Board Members Services and rewarded Warehouse Group earnings growth and bigger dividend. The NZX 50 rose 20.54 points, or 0.5 percent, to 4354.02, the highest since the index it was created in 2003. Within the index, 25 shares rose, 15 fell …

Chile and New Zealand will continue to strengthen their trade and economic ties, particularly though education, agriculture and energy, Prime Minister John Key announced today. Key today held bilateral talks with Chilean President Sebastian Piñera, where the two leaders discussed the on-going Trans Pacific Partnership negotiations and the warm relationship between the two countries. “New Zealand’s relationship with Chile is …

Infrastructure investor Infratil is seeking to fill its coffers for new, earlier stage investments through the part-sale of its 50 percent shareholding in Z Energy, the possible part-sale of an Australian windfarm, and the potential to issue a low-interest 10 year bond. The strong potential for a float of between 40 percent and 60 percent of Z was announced as …

New Zealand manufacturing volumes continued to grow in the final three months of 2012, and a rundown in stocks outside food and beverage bodes well for the sector this year as construction gets underway in Canterbury and Auckland. Total manufacturing sales volumes rose a seasonally adjusted 1.5 percent in the three months ended Dec. 31, slowing from a 2.5 percent …