Fairfax has completed a sell-down of its 51 per cent stake in Trade Me, the online shopping site confirmed this evening.

Trade Me shares are in a trading halt, as announcements confirm Fairfax is selling its 51 per cent stake in the company.

A new website launching today reverses the usual auction process, with retailers making the offers instead of the consumers.

Just days after tickets went on sale for British rock band Radiohead's Vector Arena date next month, Trade Me is being swamped with people flogging the tickets off at inflated prices.

New auction website Wheedle is to shut down indefinitely as its management team carry out improvements to its failing systems.

Newly-listed online trading platform Trade Me said its first annual net profit as a listed public company came in at $75.6 million

Rents in Christchurch have sky-rocketed 26 per cent in the past year, according to Trade Me Property's analysis.

What are our top CEO's getting paid? Last year pay for NZ's bosses fell for the first time in eight years. See the full list here.