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The Commerce Commission has pushed out the timeline for a final decision on what price Chorus can charge on its copper line network as it deals with a large amount of complex information, and said its initial view is that the regulated price should be backdated no further than the start of December this year. The competition regulator expects to …

Equities extended Wednesday’s rally on Federal Reserve Chair Janet Yellen’s promise to “be patient” with interest rates, bolstered by data showing the US economy continues to accelerate. “Based on its current assessment, the committee judges that it can be patient in beginning to normalise the stance of monetary policy,” the Federal Open Market Committee said in a statement after a …

New Zealand shares rose, led by OceanaGold Corp and Air New Zealand following a global rally as a rebound in oil prices and positive statements from the US Federal Reserve gave investors hope for the international economy. Arvida Group was flat in its NZX debut. The NZX 50 Index rose 21.891 points, or 0.4 percent, to 5518.476. Within the index, 31 stocks rose, …

The New Zealand dollar dipped after the country’s pace of economic growth was revised down, though continued to beat expectations, and as the Federal Reserve gets closer to making a call on whether to hike interest rates. The kiwi fell to 77.13 US cents at 5pm in Wellington from 77.80 cents at 8.15am and 77.36 cents yesterday. The trade-weighted index increased …

Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband traffic between the neighbouring countries and the rest of the world. The new Tasman Global Access Cable will boost broadband connections between the two countries, with Spark investing US$32 million in the …

Shares of Arvida Group, the new retirement village operator, rose 2 percent on its NZX debut after its initial public offer raised $80 million in capital which will be used to reduce debt. The stock first traded at 97 cents, before dropping back to its offer price of 95 cents, valuing the company at $215 million. The Christchurch-based company is integrating 17 retirement villages and aged …

The New Zealand dollar tumbled about 1 US cent after US Federal Reserve chair Janet Yellen indicated higher US interest rates are coming, and was more upbeat about the state of the world’s biggest economy. The kiwi recently traded at 76.88 US cents, dropping from 77.90 cents before Yellen’s press conference after traders initially thought the Federal Open Market Committee …

The New Zealand dollar rallied after the US Federal Reserve’s policy statement disappointed investors who were expecting the central bank to have a stronger bias toward raising interest rates next year. The kiwi rose to 77.80 US cents at 8.15am in Wellington from 77.24 cents immediately before the release, and 77.36 cents yesterday. The trade-weighted index advanced to 77.89 from …

Wall Street rose as oil rebounded amid speculation it had fallen too far too fast and as investors positioned for the last policy statement of the year from the US central bank. In afternoon trading in New York, the Dow Jones Industrial Average climbed 0.93 percent, the Standard & Poor’s 500 Index strengthened 0.91 percent, while the Nasdaq Composite Index …

The three biggest shareholders of Wellington hospital owner Acurity Health Group have put a second application to the Commerce Commission, reducing one shareholder’s influence on the holding company, Connor Healthcare, in a bid to ease competition concerns created by a takeover. Connor needs the regulator’s tick of approval to take over the private hospital operator, to acquire the shares it doesn’t already own. Connor …