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New Zealand tractor sales hit their highest level in a decade in the third quarter as farmers benefiting from this year’s record milk payout and the high local currency bought new equipment. Tractor registrations rose 8.8 percent to 925 in the three months through September, from the same quarter a year earlier, according to Land Transport Safety Authority figures published by Statistics …

Spark New Zealand, formerly Telecom Corp, is reviewing its prices, saying today’s Commerce Commission draft decision on wholesale copper line pricing threatens to push up the telecommunications company’s costs. The shares fell. Auckland-based Spark anticipates input costs will rise by an annual $60 million as a result of Telecommunications Commissioner Stephen Gale’s proposal to raise the monthly total charge allowable for the unbundled …

Shares of Chorus, the regulated telecommunications network operator, jumped as much as 17 percent after the Commerce Commission lifted the prices it can charge for access to the traditional copper lines network for broadband internet services. The shares rose as high as $2.50, the highest the shares have traded since October last year, when the antitrust regulator priced its copper …

Dorchester Pacific says it’s still in the hunt for acquisitions after completing the $82 million cash, scrip and bonds-funded purchase of Turners Auctions and refining its guidance for earnings. Dorchester has invited Turners chairman Michael Dossor to join its board and his investment arm, Bartel Holdings, has ended up with 7 per cent of the finance company. Bartel owned about 20 percent …

Tony Falkenstein, founder and majority owner of Just Water International, will take over as head of the water cooler and supplies business after chief executive Ian Ormiston resigned. Falkenstein will take up the role of managing director to replace the outgoing Ormiston, as the Auckland-based company makes plans to de-list from the NZX once the founder’s takeover is complete, it said in a statement. Through …

Regulated telecommunications network operator Chorus had a small win in its long-running stoush with the Commerce Commission over the prices it can charge for access to the traditional copper lines network for broadband internet services. However, Chorus chief executive Mark Ratcliffe says the draft new rates, proposed today, will still knock an $80 million hole in annual operating earnings. “This compares …

The New Zealand dollar jumped against the yen after credit ratings agency Moody’s Investors Service cut Japan’s credit rating, The kiwi touched 93.45 yen, its highest level since Nov. 21 when it reached a seven-year high of 93.68 yen. The local currency was trading at 93.32 yen at 8am in Wellington, from 92.87 yen at 5pm yesterday. The New Zealand …

Wall Street fell amid disappointing manufacturing data from China as well as Europe and after a report showed that the start of the US holiday sales season was weaker than expected. China’s manufacturing industry cooled in November, as the official purchasing managers index fell to 50.3, while the HSBC manufacturing PMI weakened to 50, a six-month low. “Today’s data suggest …

This report features in-depth coverage of the Deloitte Top 200 Award 2014 winners including NZ’s top company, chief executive and chairman. We looked at dynamic trends affecting New Zealand business and how leading business executives were driving their companies in new directions through dynamic change. We also updated the diversity trends in the New Zealand workforce and looked at ‘best …

Westland Milk Products, the Hokitika-based dairy cooperative, has cut its forecast milk payout for the second time in four months, saying a global over-supply of dairy products and a relatively high kiwi dollar had crimped cash flows. Westland cut its forecast for the 2014/2015 season by 40 cents to a range of $5 to $5.40 per kilogram of milk solids, from a …