The clear focus this week is on the US Federal Reserve and any clues on its plans for the future of its monthly bond-buying program. The Federal Open Market Committee starts a two-day meeting on June 18. Fed Chairman Ben Bernanke last month suggested the central bank might reduce the pace of its buying. Bernanke will host a news conference …

Air New Zealand’s aviation maintenance unit Safe Air plans to cut 84 jobs, or about 30 percent of its workforce, citing its struggle to attract new international contracts in the face of a high kiwi dollar, according to a union statement. The airline confirmed Safe Air may cut about 80 jobs as some long-term contracts come to an end. “Since …

Ebos Group shareholders approved the company’s $1.1 billion purchase of the Symbion pharmaceutical wholesaler and distributer in Australia. All six resolutions were passed at the meeting in Christchurch, paving the way for Ebos to triple annual sales to more than $6 billion as it looks to become Australasia’s biggest pharmaceutical wholesaler and distributor. “The increased scale and complementary nature of …

Turners & Growers, New Zealand’s largest integrated fruit and vegetable marketer, named its international markets general manager Alastair Hulbert as new chief executive. He replaces Geoff Hipkins, who left the company in March after media reports of a breakdown in his working relationship with the group’s senior management. Hulbert and chief financial officer Harald Hamster-Egerer have led the company in …

The New Zealand dollar gained as signs of an improving US economy prompted investors to take on more risk, boosting equity markets and damping demand for gold and silver. The kiwi rose to 80.86 US cents from 79.20 cents at the 5pm market close in Wellington yesterday. The trade-weighted index advanced to 74.76 from 73.51 yesterday. Reports in the US …

The New Zealand government and SkyCity Entertainment Group are giving themselves another fortnight to cut a deal on the terms for the casino and hotel operator to build a $402 million convention centre in Auckland in exchange for regulatory concessions. Both parties agreed to extend the deadline to reach a final agreement until the end of the month, after initially …

Stocks climbed as the latest data on US retail sales and jobs bolstered hope that the world’s largest economy might be on track for a sustainable recovery. Retail sales rose a better-than-expected 0.6 percent last month after a 0.1 percent gain in April, data from the Commerce Department showed. Polls by Bloomberg News and Reuters had called for a 0.4 …

Pyne Gould, the asset management firm controlled by George Kerr, says it will return to profit this year on gains from assets sales after an impairment-driven loss in 2012. Profit will be about $30 million in the year ending June 30, from a loss of $47.7 million a year earlier, the Auckland-based company said in a statement. The profit gain …

Hallenstein Glasson Holdings, the clothing chain, said full-year profit may drop as much as 12 percent after a slow start to winter hurt returns from its Glasson stores in Australia, where rivals have cut prices aggressively. Profit may be $18.5 to $19.5 million in the 12 months ending August 1, from $21 million a year earlier, the Auckland-based retailer said …

The New Zealand dollar rose before the Reserve Bank’s policy statement as investors weighed the prospects for a gradual reduction in momentary stimulus in the US and the greenback dropped against most major currencies. The kiwi gained to 79.59 US cents, from 78.76 cents at 5pm yesterday. The trade-weighted index edged up to 74.06 from 73.45 yesterday. The dollar index, …