The New Zealand dollar dropped to an eight-and-a-half-month low on optimism an improving economic outlook in the US may prompt that nation’s central bank to end its quantitative easing policy. The kiwi fell to 80.62 US cents from 80.68 cents on Friday in New York and 81.10 at 5pm in Wellington. It touched 80.58 cents late Friday, its lowest level …

Wall Street seems destined to push to fresh highs again this week as investors continue to bet on both an improving economic outlook and a solid commitment from the US Federal Reserve to counter any weakness. On Friday, the Dow Jones industrial average rose 0.80 percent to close at a record 15,354.40, while the Standard & Poor’s 500 Index added …

Nuplex Industries cut the range for its full-year earnings guidance by about $11 million, saying Australia’s manufacturing slump has dented demand for its resins, specialty chemicals and plastic additive products. The shares dropped about 9 percent. Earnings before interest, tax, depreciation and amortisation are expected to be in the range of $124 million to $129 million in the year ending …

The ambitious growth strategy that has imperilled Solid Energy was developed on a far more optimistic outlook for oil and coal prices than its industry peers, but it had no analysis to back those views, Treasury papers released today under the Official Information Act show. The plans, which included converting low grade Southland coal to fertiliser and diesel, first appeared …

Summerset Group shareholder Quadrant Private Equity is selling down its 37.2 percent stake in the retirement village operator, taking advantage of the stock’s 34 percent advance this year. QPE Funds Management, the Quadrant unit that holds the shares, “is in the process of selling part of its shareholding,” Summerset said in a statement. QPE has asked Summerset to seek a …

Vodafone New Zealand’s general counsel David Kreider has won a bid to keep his $541,000 a year job after the phone company’s acquisition of TelstraClear last year would have made him redundant in the subsequent restructure. They were at odds as to whether the disestablishment of his position as general counsel and the creation of a legal director role were …

New Zealand producers’ input and output prices posted the biggest gains in almost two years in the first quarter, driven by a rebound in electricity prices and higher prices for dairy manufacturers. Producer input prices, which are a measure of wholesale inflation, rose 0.8 percent in the first quarter from three months earlier, according to Statistics New Zealand. Output prices …

The New Zealand dollar slumped to its lowest this year on expectations an improving US economy may prompt its central bank to end its quantitative easing policy this year. The kiwi fell to 81.58 US cents from 82.48 cents at 5pm yesterday. The local currency earlier touched 81.37 cents, its lowest level since Nov. 21 when it traded at 81.08 …

Standard & Poor’s, the global credit rating agency, has put eight local banks on notice over the rising risk of a housing bubble bursting in New Zealand. Smaller lenders Cooperative Bank, Heartland Bank, TSB Bank, Credit Union Baywide, Credit Union South, First Credit Union, New Zealand Association of Credit Unions and Police and Families Credit Union have all had their …

The latest reports on the US economy pointed to weakness, or at the least slower forward momentum, leading investors to press the brakes on Wall Street’s record run. The Philadelphia Federal Reserve Bank said its gauge of factory activity in the mid-Atlantic region dropped to minus 5.2 in May, while the Commerce Department said housing starts sank 16.5 percent to …