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Callaghan Innovation has suspended a research and development growth grant to Trends Publishing International Ltd, the first time it’s done so, following an audit of its funding claims and referred the matter to the Serious Fraud Office. Trends got approval for a three-year Growth Grant in March this year and had received $332,966 before the grant was put on hold. Callaghan Innovation …

New Zealand shares rose, paced by Argosy Property and Spark New Zealand, as investors sought safer equities in globally choppy markets. Intueri Education Group dropped after upping its ownership in an Australia education group. The NZX 50 Index rose 0.833 points, or 0.02 percent, to 5496.585. Within the index, 21 stocks rose, 21 fell and eight were unchanged. Turnover was $144 million. Overnight US and …

New Zealand shares rose, paced by Argosy Property and Spark New Zealand, as investors sought safer equities in globally choppy markets. Intueri Education Group dropped after upping its ownership in an Australia education group. The NZX 50 Index rose 0.833 points, or 0.02 percent, to 5496.585. Within the index, 21 stocks rose, 21 fell and eight were unchanged. Turnover was $xx million. Overnight US …

The New Zealand dollar pared overnight gains in local trading as investors look to the outcome, tomorrow morning, local time, of the last US Federal Reserve policy meeting of the year, which may provide guidance on the US central bank’s plans to start lifting American interest rates. The kiwi fell to 77.36 US cents at 5pm in Wellington from 77.85 cents at 8am, little changed from …

Paul Brewerton, chief operating officer of IkeGPS Group, has left the remote measuring devices and software company and will not be replaced. Brewerton left on Nov. 7, the Wellington-based company said in a brief statement. He had been with the company as operations manager since January 2012, according to a LinkedIn profile. His presence has been removed from the website, but …

Pyne Gould Corp, which is controlled by managing director George Kerr, will keep on buying back shares as it looks to narrow the shortfall from its net tangible asset value, and said it expects the audit of its Torchlight investment should be done before it releases its first-half earnings. Chairman Bryan Mogridge told shareholders in Auckland the firm will continue with …

The Financial Markets Authority won’t chase South Canterbury Finance in a civil claim, saying it can’t justify the cost of doing so and leaving it to Crown Asset Management (CAML) to pursue the failed lender’s directors. The market watchdog today closed its inquiries into a potential civil claim against SCF, two days after former director Ed Sullivan was this week sentenced to …

Zespri International, the grower-owned kiwifruit marketing company, said it expects record per-hectare returns for green and green organic kiwifruit this season following supply constraints, favourable market conditions and strong end-of-season sales. Pre-hectare returns for green kiwifruit growers are forecast at $52,987 and green organic at $42,207. The increased grower returns are across all categories and Zespri chief executive Lain Jager …

The one-year delay forecast in the New Zealand government’s return to surplus doesn’t have any implications for its Aaa credit rating, with everything else going in the right direction, according to Moody’s Investors Service Yesterday’s half-year economic and fiscal update pushed out the Treasury’s expectation for a return to surplus, projecting the Crown’s operating balance before gains and losses to be …

The Australian Competition and Consumer Commission is appealing am Australian Federal Court ruling clearing carriers Air New Zealand and PT Garuda Indonesia of fixing prices for international air freight services. The competition regulator’s appeal is focusing solely on the court’s finding that the activities did not occur in the Australian market, it said in a statement. In October, Justice Nye Perram dismissed the …