The New Zealand Superannuation Fund, which invests to fund the country’s universal state pension, will place $40 million in a new $150 million venture capital fund to finance fast-growing small to medium-sized businesses with global potential. The funds will be placed with Auckland-based Pioneer Capital, which already holds stakes in recently listed software company SLI Systems, boutique brewer Moa beer, …

All trading on New Zealand’s stock market has been halted due to technical issues in the second major outage this year. A spokeswoman for the NZX confirmed the stock exchange has halted trading, and is investigating the problem. Reuters reported the stock exchange operator said it had connectivity issues and suspended trading on all markets while it looked at the …

The New Zealand dollar may decline this week on speculation about the removal of asset purchasing stimulus in the US and on concern Chinese growth may be faltering. The local currency may trade between 75 US cents and 80 cents this week, with a lower bias, according to a BusinessDesk survey of nine traders and strategists. Five expect the kiwi …

The New Zealand government and SkyCity Entertainment Group are taking another five days to finish up a deal for the casino and hotel operator to build a $402 million convention centre in Auckland in exchange for regulatory concessions. The parties have extended their negotiations for a second time, and expect the deal to be wrapped up by 11pm on July …

US labour data will be the focus of investors desperately trying to get a handle on the likelihood and timing of a Federal Reserve easing back of its bond-buying program, after a week of comments by central bank officials failed to provide further clarity. While last week’s slew of speeches helped stem the steep slide of both equity and bond …

The government looks set to receive a windfall whopper dividend from Meridian Energy following the sale of its 50 percent stake in the A$1 billion Macarthur wind farm in Victoria. The sale, which valued state-owned Meridian’s holding at A$659 million, comes right on balance date for what is likely to be Meridian’s last financial year under 100 percent state ownership, …

Restaurant Brands, New Zealand’s largest fast food operator by sales, is betting on new brands such as burger chain Carl’s Jr to drive future earnings growth in the nation’s $2 billion fast food market and remains keen on adding new offerings such as Taco Bell. The company opened its first two Carl’s Jr stores targeting “hungry young guys” last financial …

Pumpkin Patch, the children’s clothing chain, said full-year profit may drop as much as 35 percent in the face of intense competition in Australia, becoming the second local retailer this month to cite tough times across the Tasman. The shares tumbled to a 16-month low. Profit after tax, excluding reorganisation costs, is expected to be $7.5 million to $9 million …

New Zealand’s new building consents rose in May, adding to a surge in April, as construction intentions Auckland and Christchurch underpinned growth in the sector. New building permits rose 1.3 percent to a seasonally adjusted 1,818 last month, with a big build up in Auckland apartments, Statistics New Zealand said. The rose 21 percent in April. Stripping out apartments, seasonally …

Restaurant Brands, which operates four fast-food chains, expects 2014 annual profit to be “a little ahead” of the previous year as sales rise in a challenging economic environment and costs remain under control. The latest forecast reiterates the company’s comment on April 4 that profit would be higher than the $16.2 million for the 2013 financial year. No further details …