New Zealand shares were mixed, with Goodman Fielder and NZ Refining down ahead of their exit from the NZX 50 Index, while Ryman Healthcare, rated ‘outperform’ in a Reuters poll, led gainers. The NZX 50 rose 4.44 points, or 0.1 percent, to 3979.17. Within the index, 18 stocks rose, 26 fell and six were unchanged. Turnover was $156 million. The …

The New Zealand dollar is headed for a 3.1 percent gain against the yen this week as Japanese voters prepare to go to the polls in an election that’s expected to install a new government that backs unlimited monetary easing. The kiwi traded at 70.75 yen at 5pm in Wellington from 70.52 yen yesterday. The currency was little changed at …

A second unnamed NZX adviser has been fined over a rule breach related to auction site Trade Me’s $363.5 million initial public offering last December. The adviser must pay $16,000 to the NZX Discipline Fund plus costs, the regulator said in a statement. The breaches relate to both the Trade Me and Summerset IPOs last year. NZX regulation said the …

Jim Delegat, managing director of winemaker Delegat’s Group, has failed in a High Court attempt to recover payments on an incomplete yacht from a director of failed luxury yacht maker Salthouse Marine. Justice Mark Woolford ruled that Perth-based naval architect Christopher Norman didn’t breach his director’s duties under the Companies Act while a director of Salthouse between December 2008 and …

The Serious Fraud Office has lost the first round in it its bid to appeal a ruling clearing Capital + Merchant Finance directors Wayne Douglas and Neal Nicholls over the so-called ‘Hub loans’. In the High Court in Auckland, Justice Edwin Wylie turned down the Crown’s application for the judge to revisit three questions of law surrounding the Palmerston North …

Insurance Australia Group, whose ASX-listed shares have surged 63 percent this year, is selling its unprofitable UK operations, taking a loss of about $240 million on them in the 2013 year. The Sydney-based insurer, which runs the NZI, State and AMI insurance bands in New Zealand, will sell its Equity Red Star motor insurance business in the UK to buyout …

The New Zealand dollar fell from a nine-month high amid concerns politicians in Washington are making no progress in talks to avert the fiscal cliff, countering the impetus growth assets got from the Federal Reserve’s further quantitative easing and weighing on stocks. The kiwi dollar fell to 84.23 US cents from 84.40 cents at 5pm in Wellington yesterday. The trade-weighted …

The New Zealand dollar fell from a nine-month high amid concerns politicians in Washington are making no progress in talks to avert the fiscal cliff, countering the impetus growth assets got from the Federal Reserve’s further quantitative easing and weighing on stocks. The kiwi dollar fell to 84.23 US cents from 84.40 cents at 5pm in Wellington yesterday. The trade-weighted …

Wall Street declined as US House Speaker John Boehner renewed concern about the lack of progress in talks aimed at preventing US$600 billion in tax increases and spending cuts taking effect on January 1. “Unfortunately, the White House is so unserious about cutting spending that it appears willing to slow-walk our economy right up to the ‘fiscal cliff,'” Boehner told a …

New Zealand shares fell as investors continued to take profits, foundation investors in Infratil reduced their holdings, and previously top 50 stocks prepared to leave the index. The NZX 50 fell 20.53 points, or 0.5 percent, to 3974.72. Within the index, 30 stocks fell, 11 rose and nine were unchanged. Turnover was $147.5 million. However, the newly tradable non-voting Fonterra …