Three years after taking over Shell New Zealand’s petrol refining, transport and retail operations, Infratil and the New Zealand Superannuation Fund are looking to float between 40 percent and 60 percent of Z Energy on the NZX in the third quarter of this year. The announcement comes at the start of an Infratil investors’ day, and reflects in part the …

The New Zealand dollar declined against the euro after European Central bank chief Mario Draghi was less gloomy than some in the market had expected, forcing traders to cover their short positions. The kiwi fell to 63.13 euro cents from 63.70 cents at 5pm in Wellington yesterday. The local currency traded at 82.79 US cents from 82.76 cents. The ECB …

Better-than-expected American labour data propelled the Dow Jones Industrial Average to another intraday record high. Jobless claims posted a surprise drop to 340,000 last week, Labor Department data showed, while the four-week average fell to the lowest level in five years. “There’s an underlying element of support for the labour market and it’s really driven by housing and potentially construction …