The New Zealand dollar was volatile following the release of the Federal Reserve minutes to its last meeting this morning, as the minutes failed to outline plans for likely interest rate hikes in the world’s largest economy. In the hour following the publication of the minutes at 8am New Zealand time, the kiwi traded between 78.39 US cents 78.93 cents, from 78.71 cents immediately …

Wall Street slipped, pushing the Dow and the S&P 500 down from their record-high closes the previous day, as investors awaited guidance on the timing of an interest rate increase by the US Federal Reserve. The Fed is set to release minutes from its October meeting at 2 pm in Washington “Investors will screen the minutes for any fresh hints …

New Zealand shares rose, paced by Meridian Energy and MightyRiverPower, as investors chased stocks with relatively attractive yields. Fonterra Shareholders’ Fund gained after dairy prices fell. The NZX 50 Index rose 17.028 points, or 0.3 percent, to a record close of 5522.056. Within the index, 23 stocks rose, 16 fell and 11 were unchanged. Turnover was $121 million. The benchmark index has gained …

The New Zealand dollar fell more than a US cent against the US dollar as traders absorbed the knock-on effect of weaker dairy prices on the domestic economy and the greenback strengthened in the wake of Japanese prime minister Shinzo Abe’s confirmation of a snap election and a delay in a sales tax hike. The New Zealand dollar fell to 78.70 US cents at …

AWF Group, the contract labour firm that last year took on debt to acquire white-collar recruiter Madison, will probably launch a $12 million rights offer next year to reduce its borrowings and put some money in the kitty for potential future acquisitions. The Auckland-based company used debt to fund the $30 million purchase of Madison a year ago and expects to borrow a …

Moa Group posted a wider first-half loss after the unprofitable boutique beer maker restructured its fledgling business and changed distribution and brewing arrangements to underpin future growth. The Auckland-based company posted a loss of $3.21 million, or 9.5 cents a share, in the six months ended Sept. 30, from a loss of $3.04 million, or 10.1 cents, a year earlier, it said in …

ASB has trimmed its milk price forecast to $4.70 per kilogram of milk solids following dairy product prices in the latest GlobalDairyTrade auction falling to the lowest level in more than five years. The GDT average winning price slid 3.1 percent to US$2,561 overnight, the lowest level since August 2009, and down from US$2,649 two weeks ago. Some 39,613 tonnes of …

SeaDragon, which manufactures fish oil for health supplements, has reported a $574,000 half-year loss, 362 percent down on the same period last year after difficulties securing raw material saw its factory underused. The Nelson-based company reported strong sales growth of 23 per cent to $2.6 million in the six months ending Sept. 30, ahead of the $2.4 million the company …

The New Zealand dollar touched a fresh seven-year high against the yen after Japanese prime minister Shinzo Abe called a snap election and said he would delay plans to hike sales tax to seek a mandate for economic reform after the country fell into recession. The kiwi reached 93.22 yen, its highest since July 2007, and was trading at 92.75 yen …

Australia and China have completed free-trade agreement negotiations, in a deal which Australian government sources say secures better access for the country’s dairy exports than New Zealand’s.  Australian trade and investment minister Andrew Robb and Chinese commerce minister Gao Hucheng will sign a declaration of intent this afternoon, after Prime Minister Tony Abbott and President Xi Jinping concluded talks in Canberra, the Australian …