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The New Zealand dollar was little changed against its Australian counterpart as sluggish consumer spending across the Tasman stoked speculation the Reserve Bank of Australia may cut interest rates deeper than initially anticipated. The kiwi traded at 78.68 Australian cents from 78.65 cents on Friday in New York. The currency was little changed at 81.95 US cents at 5pm in …

Israeli private equity group Fortissimo Capital paid US$8 million for award-winning Wellington-based microwave radio products developer 4RF, allowing the receivers to repay creditors and settle with noteholders. The former parent company, 4RF Communications, was put in receivership in April after failing to reach agreement on restructuring some $5.5 million of convertible notes. To ensure the business, which had $20.4 million …

President of the New Zealand – Canada Business Association and co-founder of Kim Crawford Wines – Erica Crawford, spoke out in favor of TPP calling the agreement a potentially significant one for winemakers. ” New Zealand wine exports to TPP markets are currently nearing $400m, but with TPP we see know reason for that not to double” “TPP will benefit the …

TPP critic Jane Kelsey  has alleged the NZ Government has imposed unprecedented restrictions on registered stakeholders as it hosts the Trans-Pacific Partnership negotiations in Auckland this week. “We turned up this morning and found we are locked out of the entire Sky City Convention Centre for all 10 days except the so-called stakeholder day on Friday,” according to Professor Jane …

A new website www.tradeworks.org.nz has been launched today to help Kiwis better understand the benefits of trade and investment for New Zealand, and understand the potential benefits of TPP.

An unnamed bidder for the Harbour City Centre building owned by upscale Wellington retailer Kirkcaldie & Stains has missed a deadline for confirming it was satisfied with due diligence and the agreement could be terminated if an extension isn’t sought. The Harbour City Centre building is valued at $46.55 million, according to the company’s 2012 annual report published last month, …

Ministry for Primary Industries Director-General Wayne McNee has approved co-funding from the Primary Growth Partnership (PGP) for the new Foodplus programme which will look at how more value can be generated from beef carcases. The PGP Fund is committing $43.5 million over seven years for the programme, which is worth $87 million in total and is being run by ANZCO …

Fiscal policy receives insufficient attention and will be a major drag on growth over the coming few years. Local government spending is also set to be sharply curtailed. These dynamics are compensated by the rebuild until 2014, but the net impact is monetary policy lower for longer. The DecemberMonetary Policy Statement is expected to be accompanied by a no change decision, …

Glass Earth Gold is raising as much as C$3 million in a private placement in Canada to raise funds to develop its Neavesville and WKP projects in the Hauraki region. The placement follows Glass Earth’s announcement last month that it had gained rights to take over the Neavesville gold and silver prospect from Canadian resource developer Eurasian Minerals. The WKP …

Chorus, the telecommunications network operator, won’t have to cut its prices for copper-line services as deeply as initially feared after the antitrust regulator set pricing over the unbundled copper local loop. The Commerce Commission has set the new geographically averaged price at $23.52 per month per line from Dec. 1, 2014, a 3.9 percent reduction to the prices set in …