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New Zealand shares rose to a new record close, led by Restaurant Brands New Zealand after the country’s biggest fast-food operator boosted its annual earnings guidance. Spark New Zealand pace gains as investors sought defensive stocks with reliable dividends The NZX 50 Index rose 13.126 points, or 0.2 percent, to 5292.825. Within the index, 20 stocks rose, 15 fell and 15 were unchanged. Turnover was $130.7 …

Fonterra Co-operative Group, the world’s biggest dairy exporter, has begun a consultation process prior to lodging consent applications to build two new high-efficiency milk powder driers at its Studholme site in South Canterbury. The Auckland-based dairy company said the proposed investment would add about 9 million litres of capacity to its milk processing in South Canterbury, one of the country’s fastest-growing dairy …

The New Zealand dollar fell after figures showed inflation in the third quarter was slower than the Reserve Bank had forecast, giving it less reason to resume raising interest rates after pausing its tightening cycle in July. The kiwi fell to 79.52 US cents as at 5 pm in Wellington, down from 79.09 cents immediately before the inflation data was released and …

CarbonScape, which makes “green” coking charcoal, wants to raise as much as $1.5 million from equity crowd funding to commercialise its product for the steel manufacturing market. The Christchurch-based company has a minimum target of $400,000 on the Snowball Effect platform, with a funding cap of $1.5 million, and is hoping to lure investors offering shares at 20 cents apiece with …

Port of Tauranga, the country’s biggest coastal export hub, sees annual earnings growth of up to 6.1 percent and expects to finish plans to enable big ships to dock at its wharves over the coming year. The port operator forecasts annual profit of between $78 million and $83 million in the year ending June 30, 2015, compared to earnings of $78.2 …

Bank of New Zealand chief executive Anthony Healy has challenged other Kiwi business leaders to think what they can do to contribute to five key issues the country faces. The five issues include upskilling business owner-managers so they grow faster, capturing more opportunities from Asian economic growth, responding to environmental issues such as the degradation of our lowland waterways, getting …

Auckland International Airport, the country’s main gateway, has confirmed it’s likely to deliver an underlying net profit of between $160 million and $170 million this financial year, in line with the guidance it gave in August. Chairman Henry van der Heyden said at the annual meeting in Auckland today, his first address to shareholders, that the result would be broadly in …

NZ Yarn, a joint venture between Elders Primary Wool and Primary Wool Cooperative, have bought Christchurch Yarns NZ out of receivership for an undisclosed amount. The Christchurch-based wool spinning company was tipped into receivership in April, owing $7.2 million to general security agreement creditors including Westpac Banking Corp, while preferential creditors were owed $1.2 million, according to the first receivers report on June …

Pyne Gould Corp, the asset management firm controlled by managing director George Kerr, has sold its 27 percent stake in Equity Partners Infrastructure Co No 1 after failing to take control of the investment company and oust its board. The Gurnsey-based sold its entire 41.89 million shares of Epic, at 30 British pence per share netting 12.6 million British pounds, it said in …

The New Zealand dollar fell about half a US cent after tepid local inflation pushed out the likely timeline for future interest rate hikes and cleared the way for a lower currency. The kiwi fell as low as 78.63 US cents from 79.09 cents immediately before the inflation data was released, and was recently trading at 78.71 cents. Statistics New …