A rogue exec working for a Chinese company part owned by the Millennium & Copthorne Hotels has escaped prosecution for unauthorised property sales which appear likely to leave the NZX-listed hotelier out of pocket.

The New Zealand sharemarket posted modest gains in quiet trading yesterday ahead of the Christmas holiday break.

Telecom won't face regulatory intervention over its premium copper-based VDSL2 broadband service which guarantees speeds of 15Mb/s up, 5Mb/s down.