Pushpay Holdings, the mobile payments app developer, boosted revenue 39 percent in the first quarter as growth in its US faith-based merchants offset a decline in its SMS business. Total annualised committed monthly revenue was $12.8 million at June 30, up from $9.2 million three months earlier, the Redmond-based company said in a statement. Merchant ACMR, which tracks its clients who use the PushPay …

New Zealand shares fell in a widespread selloff as China’s stock market extended its tumble.  Xero, Trade Me Group, SkyCity Entertainment Group and Westpac Banking Corp declined. The S&P/NZX 50 Index fell 35.47 points, or 0.6 percent, to 5767.7. Within the index, 30 stocks fell, nine rose and 11 were unchanged. Turnover was $177 million. The Shanghai SE Composite Index was down 3.8 percent …

NZX  NZX, which is New Zealand’s only registered stock market operator, “strongly opposes” a bid by share trading platform Unlisted to be exempted from new licensing requirements, saying its lack of basic shareholder protections could tarnish the reputation of the country’s capital markets. Unlisted is petitioning Commerce Minister Paul Goldsmith for an exemption from being licensed by the Financial Markets Authority, as …

Murray Radford will retire as chairman of Mowbray Collectibles as the auction house prepares to rename as Bethunes after selling units and repaying debt. Radford will end 15 years on the Mowbray board and Christopher Swasbrook will act as chairman until a replacement is found, the Wellington-based collectibles company said in a statement. Mowbray settled the sale of subsidiaries Mowbray Bethunes and …

Beingmate Baby & Child Food Co shares have halved in value on the Shenzen stock exchange over the past three weeks, pushing their price 12 percent below what Fonterra Cooperative Group paid for its 18.8 percent stake in the Chinese infant formula maker. Beingmate shares closed at 15.82 yuan yesterday, below the 18 yuan apiece, or 3.46 billion yuan that the Auckland-based dairy cooperative paid …

MightyRiverPower’s Metrix metering business has walked away from a deal with Infratil-controlled Trustpower that would have supplied the power company’s 242,000 electricity customers with smart meters. The Auckland-based company decided not to proceed with the contract after reviewing the systems development to date and ongoing requirements, it said in a statement. The contract was expected to start this year, before scaling …

The New Zealand dollar touched a fresh five-year low after dairy prices fell to a six-year low in the GlobalDairyTrade auction overnight, paced by whole milk powder, the nation’s key export commodity. The kiwi touched 67.27 US cents and was trading at 67.41 cents at 8am in Wellington, from 67.95 cents at 5pm yesterday. The trade-weighted index dropped to 70.73 from …

Marlborough Lines has bought an 80 percent stake in Yealands Wine Group, New Zealand’s sixth-largest wine exporter, for $89 million. The South Island electricity lines company took control from founder Peter Yealands, who wanted to keep the winery fully New Zealand owned, the companies said in a joint statement. Marlborough Lines is debt free and had realised $100 million in cash from …

The New Zealand dollar touched a fresh five-year low after dairy prices fell to a six-year low in the GlobalDairyTrade auction overnight, paced by whole milk powder, the nation’s key export commodity. The kiwi touched 67.27 US cents and was trading at 67.41 cents at 8am in Wellington, from 67.95 cents at 5pm yesterday. The trade-weighted index dropped to 70.73 from …

Dairy product prices continued their slide, paced by whole milk power, in the latest GlobalDairyTrade auction, weakening to the lowest level in six years. The GDT average winning prices dropped 5.9 percent to US$2,276 from US$2,409 at the previous auction two weeks ago. It was the lowest level since July 2009. Some 33,200 tonnes of product was sold, the highest …